Recent racial justice movements, as well as the pandemic and the subsequent economic crisis, have sparked an interest in racial equity initiatives worldwide.
Companies are now incorporating racial equity into their existing philanthropic strategies and their plans for the future. According to a survey by the Association of Corporate Citizenship Professionals (ACCP)1, most CSR leaders view racial justice as a new long-term corporate citizenship priority. The survey found 62% of CSR leaders have added a “racial equity lens” to their philanthropic funding efforts, with more than half contributing to nonprofits with a racial equity mission and 43% increasing funding in this area.
Investing in racial equity programs demonstrates your company’s dedication to creating a more just and equitable world for communities of color. However, if you’re not tracking the impacts of your social equity investments, how do you know that you’re making a difference? Are your contributions meaningfully improving the lives of communities of color?
In our new guide, Measuring Inclusion: How to Quantify the Social Impact of Corporate Philanthropy on Racial Equity Initiatives, we’ve outlined a process to help you measure the social impact of your philanthropic efforts, regardless of the strategies you decide to invest in.
With our 4-step framework, you and your nonprofit partners will learn how to determine the following:
- Define your social impact goals and strategy
- Guide nonprofit partners to gather proper impact data
- Calculate your impact claim
- Revisit and refine your goals
Investing in social equity programs is just the start. By creating reporting protocols to determine the effectiveness of these investments, you’ll demonstrate just how committed you are to promoting racial equity and improving society for generations to come.
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Photo credit: Fabrice Florin CC BY-SA 2.0