Impact assessment is the measurement of social impact and nonprofit organizations’ effectiveness. Through this metric, funders and beneficiaries alike understand the benefits that the organization brings to the community and the world .
Although measuring an organization’s impact is an important aspect of the funding cycle and necessary for growth and scalability, the methodology of determining the right metrics, gathering these metrics, and showing these metrics is a challenge for many organizations. As there is currently no industry standard, significant capacity is needed from organizations to think through the process to determine the metrics, gather the information, and show the information to funders. Often, a non-profit does not have the resources to do so, all the while trying to execute programming for their beneficiaries.
Our initial service offering is an impact assessment tool that is designed to standardize the method of measuring impact and make it easier for organizations to survey, track, and analyze impact. There are two main features of the tool. The first feature is designed to provide organizations with a process to easily evaluate their work and determine their impact by:
- Providing Determining Questions
- Providing Tools for Measurement
- Providing Regional Demographic Data for Impact Assessment Design
The second feature of this tool will assist organizations with demonstrating their impact by:
- Compiling and Analyzing Data
- Showing impact metrics in real time through a dashboard
- Ability to automatically generate reports
Currently, this tool’s primary users will be social impact and non-profit organizations. Ultimately, we envision this tool to evolve into a digital platform. Building on top of the data that will be gathered from the IMPULSUM Assessment Tool, the IMPULSUM platform will serve beneficiaries and funders as well. The IMPULSUM platform will enhance and simplify the beneficiaries’ experience of providing feedback and data to the nonprofit organization. This will result in better impact measurements in general. The IMPULSUM platform will also allow funders to make investment and ROI decisions based on easily accessible, relevant data.
The beneficiaries of this product are nonprofits and social impact organizations seeking to assess the impact of their work, the beneficiaries of those organizations to report their impact, and funders who will be able to more easily see the impact that is a direct result of their investments.