The Right Metrics to Measure Impact
By Lanna Chan ’13
As we progress in a world with an increasing number of nonprofits starting each day, the audience — whether nonprofits, donors, or for-profit organizations — can’t help but wonder about the effects of nonprofits and how they can be measured. Coupled with the increase of social capital markets, it is important for nonprofits to move towards scale and impact — but is the solution as simple as it sounds, given the evolution of metrics measurement and availability of social capital?
In the past, metrics have been difficult to monitor and measure given the capacity of the nonprofit or the inability to measure effectiveness. While there is still significant progress to be made with metrics and measurement, organizations such as Citizen Schools have made developments with using metrics and monitoring them to make decisions and changes. In addition, the Global Impact Investing Network (GIIN) has focused on increasing the scale and effectiveness of impact investing, pairing the growth of social capital markets with metrics monitoring with the need to best leverage resources for scale and impact. Lastly, foundations such as The Edna McConnell Clark Foundation have used metrics to focus and monitor their grants in areas where scale and impact are possible.
What is the journey these nonprofits have made given the advancement of metrics and social capital markets, and how are they scaling the impact they are making with their investments? What challenges have they faced, and what benefits have been and do they expect to realize? Join us in October for a session focused on “The New Nonprofit” facilitated by Melissa Berman, CEO of Rockefeller Philanthropy Advisors, with speakers from Citizen Schools, The Edna McConnell Clark Foundation, and leading consulting firms.