The fourth prize in this category was won by the Our Future Foundation for systematizing methods and programs in the field of evaluating the social and economic effectiveness of social enterprises and impact investors. In 2022, the foundation conducted a sample study of the social impact of social entrepreneurs' projects in the Khanty-Mansi Autonomous Okrug-Yugra[26]. Three projects were selected for the study: X–Land computer club (Nizhnevartovsk), Seven Dwarfs kindergarten (Nefteyugansk) and Botanica Bar (Nizhnevartovsk). In 2016–2018, these companies participated in a pilot project to develop the social investment market in the region.
The method used by the experts is the Social Return on Investment, or SROI. The Our Future Foundation is adapting it to Russian conditions to evaluate the effectiveness of impact investments. The data from this study helps investors and project managers understand how effectively funds are spent to create a social result.
The foundation has been applying the social impact assessment approach for 15 years, making decisions to fund socially transformative projects in the form of interest-free loans[27].
Natalia Zvereva, director of the Our Future Foundation, notes that in 2022 the discussion of approaches to assessing the social impact intensified. First of all, this is related to the discussion of the specifics of social enterprises of various legal forms. Competencies in determining the approach to social impact assessment at the level of professional standards in the field of social entrepreneurship are important.
“Our experience shows that there is no universal methodology for assessing social impact, because there are differences in approaches for enterprises of different legal forms, different types of activities. For example, it is difficult to evaluate sports and social service projects using the same approach. As part of the Aksel.Sotszakaz accelerator, we saw confirmation of this thesis. The emphasis on industry specifics is one of the important trends in the development of this topic,” says Natalia Zvereva.
Another trend is the attempt to simplify the SROI method, to separate stakeholder approaches to determining the social impact. “Assessment of the social impact for the purpose of receiving state support and for the purpose of attracting investment may have different criteria. For example, in the first case, the principle of “social impact assessment in exchange for a measure of support” can be used. The topic of social impact assessment approaches is also relevant due to the fact that the quality of people's lives remains the number one priority in any initiative,” the expert explains.