Benevity sets a new standard for social impact reporting with the launch of Benevity Impact Reports
Through the company’s partnership with Impact Genome, the world’s only standardized impact registry, CSR leaders can now demonstrate outcomes from social impact programs
CALGARY, Alberta, June 18, 2024 (GLOBE NEWSWIRE) — Benevity Inc., the leading global provider of social impact software, today announced the launch of Benevity Impact Reports, powered by Impact Genome. Leveraging Impact Genome Standard outcomes data from an Impact Registry of 2.2 million programs, Benevity Impact Reports augment Benevity’s suite of reporting tools to provide in-depth reporting that translates employee giving and volunteering data into tangible social outcomes. The reports set a new bar for social impact reporting, with standardized, outcomes-based data that does not require effort from nonprofits.
Benevity’s 2024 State of Corporate Purpose Report revealed that 89% of social impact leaders are now being asked to show how their impact is measured and calculated. Benevity’s new Employee Giving Impact Report and Employee Volunteering Impact Report allow companies to gain a more fulsome view of their social impact by augmenting traditional metrics such as the number of donations or volunteer hours with Impact Genome outcomes such as the number of people with access to an affordable meal or quality healthcare. This gives business leaders the ability to demonstrate the value of their programs with benchmarked, data-backed storytelling to inspire their employees, communities and stakeholders and build brand trust.
This is the first time social impact reporting can be done without manual reporting effort from nonprofits – making it a groundbreaking new model. The State of Corporate Purpose report revealed that 92% of social impact leaders believe impact reporting shouldn’t put a burden on nonprofits.
“The tight economic environment is forcing every business to demonstrate value and return on investment. But the current approach to social impact measurement is manual, inefficient and lacks standardization,” said Kelly Schmitt, Benevity’s Chief Executive Officer. “Through our partnership with Impact Genome, we are bringing scale to an area of CSR that has been ripe for disruption for decades – without putting the onus onto nonprofits. With an increasingly purpose-driven workforce, Benevity Impact Reports enable companies to show their employees the real impact they are having for the first time.”
The Employee Giving and Employee Volunteering Impact Reports include five individual reports that offer a breadth of insights into employee programs:
- Impact Overview: Provides a view of the total estimated outcomes employees have supported, including high-level trends on top impact areas.
- United Nations Sustainable Development Goals (UN SDGs): Shows how companies’ giving and volunteering programs map to the UN SDGs.
- Geographical Impact: Insight into regional impact of employee giving and volunteering.
- Beneficiaries: Provides a view of specific populations that employees are supporting.
- Impact by Nonprofit and Outcomes Details: Companies can access a listing of the nonprofit organizations that employees supported along with a detailed explanation of the outcomes to help them communicate impact internally and externally.
“As companies double down on their social impact strategies, our mission to enable businesses to report on these initiatives has become even more critical,” said Jason Saul, CEO and Founder of Impact Genome Registry. “Through our partnership with Benevity, we’re empowering businesses to make giving and volunteering efforts more clear and tangible for participants and nonprofits, transforming social impact from a noble intention into quantifiable progress.”
“Using Impact Genome’s Impact Standard allows our team to understand the impact that we are creating globally across our employee giving and volunteering programs,” said Anthony Sanchez, Vice President & Global Head, Community Impact at Moody’s Foundation. “We knew that we were making an impact but didn’t have the tools to quantify dollars donated or hours volunteered. The Registry allows us to report the impact of our programs and anchors us to the outcomes that we achieve.”
For more information about Benevity, please visit https://benevity.com.
About Benevity
Benevity, a certified B Corporation, is the leading global provider of social impact software, providing the only integrated suite of community investment and employee, customer and nonprofit engagement solutions. Recognized as one of Fortune’s Impact 20, Benevity offers cloud solutions that power purpose for many iconic brands in ways that better attract, retain and engage today’s diverse workforce, embed social action into their customer experiences and positively impact their communities. With software that is available in 22 languages, Benevity has processed more than $15 billion in donations and 79 million hours of volunteering time to support 470,000 nonprofits worldwide. The company’s solutions have also facilitated 1.3 million micro-actions and managed 845,000 grants worth $16 billion. For more information, visit benevity.com.
About Impact Genome
The Impact Genome Registry® (IGR), is the world’s leading registry for standardizing and verifying the social impact of nonprofits, corporations and governments. Through over $5.2B represented in social spending and over 2.2M programs, IGR has developed benchmarks like cost-per-outcome, efficacy, outcomes achieved and more. The Registry uses universal Impact Standards for outcomes, program design, beneficiaries, context, and evidence quality to make impact reporting simple and intuitive. This enables more reliable data, benchmarking, independent verification, and reduced administrative burden for nonprofits and will ultimately level the playing field for all. Learn more at impactgenome.com.
Media Contact:
Zamira Tasneem│Media & Communications Manager│press@benevity.com
Impact Genome Media & Communications│news@impactgenome.org
