Social Return on Investment
In everybody’s lives there are times when we have either individually or collectively made a difference. There is usually an immediate way of seeing the difference we make: as a donor we might see the purchase of a new minibus, as the provider of a legacy we might see the change we make possible by enabling something new to happen or as an individual it might be payment in smiles. We all want to know that the difference we make lasts for more than a moment, and makes a lasting difference to all those concerned. This can often be difficult to demonstrate or measure the next year, or the year after that.
At Nottinghamshire Hospice we are working to measure the impact your gift, support or investment makes to people at the end of their life by measuring social return on investment.
Social Return on Investment (SROI) is a framework for measuring and accounting for value rather than just money. It helps us understand what would have happened without the investment, what happened because of the investment and the impact on inequality and the environment. This is measured in the context of economic costs and benefits.
Sounds complicated? It is! We believe that investing in measuring our work and your investment in this way we are better able to demonstrate the real difference you make to the people Nottinghamshire Hospice supports.
We are working on our first SROI which will help us understand the difference the legacy from Lady Evelyn and Sir Joseph Pope has made to the people of Nottinghamshire 2011–2014.