Measuring Social Value
Matthew Brown, Finance Director of the Foundation for Art and Creative Technology, writes on how arts organisations can measure their social impact. Measuring social value allows you to see if you are fulfilling your organisation's purpose, and is now increasingly important for funders.
However, there's no accepted framework for measuring your social value. Brown takes us though how we can devise our own measurement framework, that aligns with our organisation's activities and goals, and how to measure social value in simple and practical ways.
"Any framework clearly needs to be objective in its approach and have a robust methodology underpinned by agreed principles that can be scrutinised and tested. But measures of success need to transcend simple volume metrics. Measures such as audience numbers and number of participants are output measures. They describe the reach of the organisation but not necessarily its impact."