Social impact evaluation
Social impact is the net effect of an activity by a public, private or third sector organization on a community including the well-being of individuals and families. It is important to measure social impact to demonstrate to stakeholders and funders that a project or organization is making a difference.It is most commonly measured by considering the social return on investment (SROI). SROI measures change and tells the story of how change is being created by measuring social, environmental and economic outcomes and uses monetary values to represent them, enabling a ratio of benefits to costs to be calculated