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SROI Report Card: Year Four October 2005 - September 2006 COURIERS TURNAROUND.

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Presentation on theme: "SROI Report Card: Year Four October 2005 - September 2006 COURIERS TURNAROUND."— Presentation transcript:

1 SROI Report Card: Year Four October September 2006 COURIERS TURNAROUND

2 TurnAround Couriers: Social Mission Overview SROI Report Card: Year End 2006 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) Youth recruited from 6 different youth shelters and employment service agencies across Toronto 64% recruited directly from shelters 100% male Average age: 22 91% unemployed at time of hire 64% receiving social assistance at time of hire 73% had been involved with the justice system prior to hire 73% did not complete high school Overview of Business Did not require additional investment and was cash flow positive Officially launched on-line courier order service in December 2005 Grew sales 76% from Year 3 Royal Bank of Canada continues to be TurnAround’s biggest client 6 of Canada’s top law firms (by size) are TurnAround clients SROI Report Card: Year End 2006 Financial Performance Total Sales Revenue:$239,000 Total Grants and Subsidies:$0 Total Sales Revenue and Grants: $239,000 Additional Social Support Infrastructure:$0 Total Operating Profit (Loss):$16,000 Total Investment in Year Three:$0 Social Return On Investment Average Change in Societal Contribution (Target Employees):$7,874 Average Number of Target Employees:8 Number of Target Employees in Sample Group: Current Year Cost Savings to Society: 11 $62,992 Cumulative Cost Savings (prior to Y4):$128,178 Total Cost Savings to Date:$191,170 Cumulative Societal Payback Period:2.08 years Cumulative SROI:191% Employment Outcomes (sample group) More than doubled average number of target hires from Y3 to Y4 Increased target/non target staff ratio from 75% to 80% Paid out $141, in target hire wages and courier commissions 45% continue to work at TAC 27% moved onto mainstream employment in courier industry and office administration Sustainable Livelihoods Outcomes (sample group) 100% target population recruited from shelters able to get out of shelter system and secure independent housing 71% who relied on income support through social assistance at time of hire were able to get off and stay off Founding Manager encourages target hires interested in TAC operations to get engaged in business strategy and growth to position themselves for operations management roles in the future Founding Manager assists target hires to effectively deal with outstanding legal issues they have had in the past

4 Definitions and Methodology Total Investment Required for Year Three Represents all cash injections in the business Average Change in Societal Contribution (Target Employees) Difference between the direct societal “cost” or “benefit” contributed by the employee before hire versus after hire Current Year SROI Return on investment generated by the current year change in target employee financial position Current Year Cost Savings to Society Dollars saved that year by employing target group and eliminating or lessening government financial assistance Societal Payback Period The number of years it would take for the social returns to equal the financial investment Cumulative SROI Average social return on investment generated by year 1, 2, 3 and 4 change in target employee financial position Cumulative Societal Payback Period The number of years it would take for the social returns to equal the financial investment made in Y1, Y2, Y3 and Y4 combined Total operating losses + Grants and Subsidies + Additional Support Infrastructure = Total Investment Required Annual Government Financial and/or Social Service Assistance Before Hire - Annual Income Tax Paid Before Hire + Annual Income Tax Paid After Hire = Average Change in Societal Contribution Average Change in Societal Contribution / Total Investment Required =Current Year SROI Average Change in Societal Contribution x Average Number of Target Employees The calculation is the inverse of the Current Year SROI or: Total Investment Required/Total Change in Societal Contribution Y1 + Y2 + Y3 + Y4 Change in Societal Contribution / Y1+Y2 +Y3 + Y4 Total Investment = Cumulative SROI Y1+ Y2 + Y3 + Y4 Total Investment / Y1 + Y2 + Y3 +Y4 Total Change in Societal Contribution x 4 years SROI Report Card: Year End 2006 Data Gathering Process The sample group was drawn from youth that worked at TurnAround Couriers for two months or more in Year 4 Target employees complete surveys to obtain socio-economic and sustainable livelihood data A second survey is undertaken at six months or a year to determine changes for target employees Only target employees who are employed for two months or more are considered for SROI calculations


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