{"id":385397,"date":"2020-11-19T12:03:44","date_gmt":"2020-11-19T17:03:44","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=385397"},"modified":"2020-11-19T12:03:44","modified_gmt":"2020-11-19T17:03:44","slug":"new-price-index-identifies-true-cost-of-social-outcomes-helps-philanthropy-and-government-make-every-dollar-count","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/new-price-index-identifies-true-cost-of-social-outcomes-helps-philanthropy-and-government-make-every-dollar-count\/","title":{"rendered":"New Price Index Identifies True Cost of Social Outcomes, Helps Philanthropy and Government Make Every Dollar Count"},"content":{"rendered":"
\n

Next generation approach to social investment unlocks power of standardized data for companies, government, individual donors to optimize societal impact<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n NEW YORK<\/span>, Nov. 19, 2020<\/span> \/PRNewswire\/ — As COVID-19 continues to inflict its toll, companies, governments, and individuals have stepped up their philanthropic investments to address the health, economic, and social fallout. Despite these efforts, one question persists in the minds of all types of donors: what does it really cost to make an impact on someone’s life?\u00a0 To date, the field has not had the ability to answer that question \u2013 until now. <\/p>\n

\n

\n
\n \"(PRNewsfoto\/The
\n <\/a>\n <\/p>\n<\/p><\/div>\n

Launched today by The Conference Board in collaboration with the Impact Genome Project\u00ae and with support from Moody’s, a new suite<\/a> of benchmarking tools will enable companies, governments and individuals to evaluate and optimize their societal investments. The goal is to help donors produce more efficient and effective outcomes. <\/p>\n

\n “<\/b>With philanthropic and government spending at unsustainable levels, now more than ever, we need a way to rationalize our resources and maximize our ‘bang for the buck’ so that we can help as many people as possible,” said Jason Saul<\/span>, CEO of the Impact Genome Project\u00ae<\/b>.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/p>\n

Anchoring the digital hub is the Price of Impact (POI) Index\u2122<\/b>. The tool, which was developed by the Impact Genome Project\u00ae, tracks how much it costs to solve problems in 100 different areas of social impact, including the arts, education, and the environment. Updated monthly, the POI Index\u2122 uses inputs from thousands of US-based nonprofits and social programs to create cost-per-outcome averages. For instance, last month, the POI Index\u2122 listed providing one person with a month of hunger relief at $533<\/span>, compared to $66<\/span> for reducing one person’s carbon footprint (such as increasing an individual’s short-term likelihood to recycle or purchase solar panels). <\/p>\n

The Conference Board’s flagship report,Data-Driven Corporate Philanthropy: The Revolutionary Potential to Change Lives<\/a><\/i>, was based on data from the POI Index\u2122. Findings from the report include the following:<\/p>\n

\n Higher costs-per-outcome (CPO) often address issues that disproportionately affect minorities.<\/b>\n <\/p>\n