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SROI Report Card: Year Six October 2007 – September 30 2008.

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Presentation on theme: "SROI Report Card: Year Six October 2007 – September 30 2008."— Presentation transcript:

1 SROI Report Card: Year Six October 2007 – September

2 TurnAround Couriers: Social Mission Overview SROI Report Card: Year End 2008 GoalsMethodsSuccess Metrics Hire couriers and office administrative staff from disadvantaged youth population Provide transitional work experience to enable youth to develop employability skills, a resume and a support network Enable youth to access the mainstream job market Enable youth to stabilize life situation, begin a career path and leave the shelter system Recruit youth from youth shelters and youth serving agencies across Toronto Provide a real job, not a job training experience Establish a supportive management environment Assist youth with planning and making next steps regarding housing and employment Youth are able to get out of shelter system and into independent housing Youth meet or exceed job expectations TurnAround helps youth secure next job and establish a career path Youth are able to get off and stay off government financial assistance

3 Enterprise: TurnAround Couriers Location: Toronto ONDate of Inception: October 2002 Overview of Target Population (sample group) 100% of new target hires recruited from youth employment service agencies 86% target hires are male Average age: 21 years 100% unemployed at time of hire 36% receiving social assistance at time of hire 29% did not complete high school Overview of Business Grew sales from 17% over last year Assisted over 100 youth since 2002 Well established courier provider in downtown core to over 500 companies and organizations including several prestigious firms such as RBC Started to work for first Big Four accounting firm – PwC Poised to become largest bike courier firm in Toronto measured by number of bikers SROI Report Card: Year End 2008 Financial Performance Total Sales Revenue:$354,405 Total Grants and Subsidies:$0 Total Sales Revenue and Grants (over 6 years): $354,405 Additional Social Support Infrastructure:$0 Annual Operating Profit (Loss)($7,021) Cumulative Operating Profit(Loss):($81,618) Total (cash) Investment required to date:$100,000 Social Return On Investment Average Change in Societal Contribution (Target Employees):$8,198 Average Number of Target Employees :10 Number fo Target Employees in Sample Group14 Current Year Cost Savings to Society$81,980 Cumulative Cost Savings (prior to Y6)$285,080 Total Cost Savings to Date:$367,060 Cumulative Societal Payback Period:3 years Cumulative SROI:2.02 or 200% Employment Outcomes (sample group) Increased target/non target staff ratio from 75% to 83% over 6 year period Grew average number target employees from 4.5 in year 1 to 10 in year 6 Grew target hire annual wage/salary pay out from $93,500 in year 1 to 210,547 in year 6 Average annual income of target employees by year 6 – $21,000 64% target hires continue to work at TurnAround Couriers 21% target hires left TurnAround Couriers this year went onto employment in the Canadian Forces, larger courier firm and organic farming 14% went onto further education Sustainable Livelihood Outcomes (sample group) Target youth reported they are able to save money, open bank accounts, eat healthier and move into better housing arrangements while working at TurnAround Couriers Target youth able to define and plan next employment and/or education steps while working at TurnAround Couriers with the help and support of the Founder and General Manager 80% receiving social assistance at time of hire able to eliminate need and replace with employment income

4 Definitions and Methodology Total Investment Required Represents all cash injections in the business + annual operational losses Average Change in Societal Contribution (Target Employees) Difference between the societal cost before hire (shelter, income assistance, employment services) vrs the societal benefit (taxes paid, eliminating need for government income and services) after hire Current Year Cost Savings to Society Dollars saved that year by employing target group and eliminating or lessening government financial assistance Cumulative Societal Payback Period The number of years it would take for the social returns to equal the financial investment made in Y1through Y6 combined Cumulative SROI Average social return on investment generated by year 1 through 6 change in target employee financial position Total cash injections + Cumulative operating losses = Total Investment Required $100,000 + $81,618 = 181,618 Total Annual Government Financial and/or Social Service Assistance Before Hire - Annual Income Tax Paid Before Hire + Annual Income Tax Paid After Hire / Number Target Employees in Sample = Average Change in Societal Contribution $114,772 / 14 = $8,198 Average Chance in Societal Contribution X Average Number of Target Employees $8,198 x 10 = $81,980 Total Investment (over 6 years) / Total Cost Savings to Society (over 6 years) x 6 years $181, 618/ 367,060 x 6 = 3 years Total Change in Societal Contribution or Cost Savings to Society (over 6 years) / Total Investment (over 6 years) $367,060 / $181,618 = 2.02 or 200% SROI Report Card: Year End 2008 Data Gathering Process The sample group was drawn from youth that worked at TurnAround Couriers for three months or more in Year 6 Target employees complete surveys and participate in telephone interviews to obtain socio-economic and sustainable livelihood data Only target employees who are employed for three months or more are considered for SROI calculations


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