Social impacts are typically long-term, making it challenging to evaluate the success and effectiveness of initiatives in the short term. This can lead to misaligned expectations and difficulties in maintaining stakeholder support. Increased accountability and transparency in the grantmaking process is where SureImpact, a company demonstrating measurable tracking improvements in equity for underserved communities, is helping funders invest in the most effective programs and initiatives.
The Breakdown You Need To Know:
SureImpact helps organizations who are working to address many of the 17 United Nations Sustainable Development goals, specifically those related to social determinants of health. Thereby its impact measurement serves as a critical tool across various sectors, from nonprofits to public enterprises, ensuring their efforts are not only visible but also effectively contributing to societal goals.
Many organizations face a lack of expertise and resources necessary for effective social impact measurement. Grantmakers and donors have very little information on the collective impact of their funding. However, SureImpact’s platform is changing that through its consistent data collection and analysis.
“Our unique data model provides the flexibility for nonprofits to track the key outcome areas (hunger, poverty, well-being) important to them as well as seamlessly share those outcomes with funders so funders understand the overall impact of their funding,” said Sheri Chaney Jones, CEO of SureImpact to CultureBanx.
Measuring Real Impact:
Data collected through impact measurement allows for better strategic planning and resource allocation, ensuring that efforts are directed towards the most impactful initiatives. This structured approach not only underscores the importance of meticulous impact measurement but also highlights its role in fostering sustainable investments and community transformations.
For nonprofits, impact measurement is indispensable when demonstrating accountability and effectiveness, directly influencing their fundraising capabilities and operational transparency. Currently, SureImpact supports more than 400 government and nonprofit initiatives by providing the infrastructure to allow them to track and measure the impact they are having on underserved communities, according to the company.
Maximizing Underserved Communities Impact:
Research firm GIIN’s 2022 market sizing report estimates the current size of the global impact investing market to be $1.16 trillion. In order for organizations to get a large share of this market SureImpact robust platform tracks activities, outcomes and the relationship between the two allowing clients to better tell their story of how they are delivering and driving real change for underserved communities.
Combating the challenges in measuring social impact is where SureImpact’s product is a real game changer. “For the past three years, SureImpact has worked with a large national network of United Ways and service providers all funded by the Siemer Institute. … to power the network’s insights on how interventions across the country are helping families with school-age children achieve housing and income stability and, as a benefit, improve children’s educational outcomes… ultimately raising more money for these initiatives,” said Chaney Jones.
Situational Awareness: Assigning a monetary value for social benefits to support underserved communities remains a daunting challenge. Through effective measurement and accountability, companies like SureImpact are paving the way for sustainable change and enhanced outcomes across underserved communities.
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