What is the Assessment?
The Assessment is a report on a social enterprise. The Assessment report summarizes a comprehensive process of interviewing, fact gathering, verifying information, and scoring against other small and medium businesses in similar stages of business.
The report is delivered in an online format similar to this brochure and a downloadable PDF.
The full name of the report is the Initial Assessment & Point Valuation. It is a valuable tool for identifying strengths, resource gaps, strategies, and capacity. Additionally, social enterprise standards are set as criteria for quality sustainability standards.
We have taken the time to identify which stage of the business life cycle the social enterprise is currently in. But, we are careful not to penalize or reward for life cycle stages. This can be misleading. The intention of this Initial Assessment & Point Valuation is to identify elements of development that are promoting a likelihood of success in each stage.
The Initial Assessment & Point Valuation gives valuable information to the social enterprise as a standard of achievement and a path to that standard. This is intended to be used both internally by the social enterprise but also externally to help the social enterprise identify their organization as a high-quality organization.
For those who support social enterprises with all types of resources, the Initial Assessment & Point Valuation serves as a valuable resource outlining the best methods for support delivery and readiness.
Monetary supporters will find all of the traditional financial reporting along with verification of other important decision-making criteria.
Purpose of the Assessment
The Assessment was originated as a roadmap for the social enterprise for driving high-level sustainability and best practices.
The Assessment is designed to perform a focused discovery on the main "pain points" or "common failure points" of social enterprise; to highlight the areas of strength and potential failure ahead of time.
The Assessment also establishes a baseline score for future measurement metrics.
Scoring - The Secret Sauce
The secret sauce of the Assessment is the dynamic and data driven scoring. The scoring is truly the unique element of the Gingras Global Assessment that sets it apart from anything else in the marketplace today.
The collected elements are weighted into a scoring out of 100.
The most interesting aspect of the scoring methodology is the weighting formulas. The formulas are established by observing and tracking other small businesses best practices.
Data has been collected for more than 20 years to bench against for scoring. The robust database held by Gingras Global is dynamic and rich with information. Trends and outcomes have been identified for the business owner and the supporters. This has, in many cases, prevented large strategic planning mistakes and lost efficiency.
Uniquely, the scoring formulas are reset annually. A confidential set of persons is selected by Gingras Global to review the past year's collected data and compare it to previous data. Trends and best practices are identified, and the scoring formulas are reset. Effectively, the top performing entities that have been assessed set the bar for the rest. So, yes, the top 25% is a moving target. Let it be set by the best!
So, while we can't give away our secret sauce, we can tell you that teams must be aligned to vision, goals, and gaps. Financial accuracy is critical. Operations must demonstrate a knowledge of both the business of delivering products and services but, also, intertwined social impact procedures. We are looking for Olympic excellence.
Who Uses the Assessment
The primary user and client of the Assessment is the Impact Investor including:
Social Enterprise investors - individuals and funds
Family Offices/Financial Advisors/Wealth Management Offices
Sponsors of Social Enterprise
Accountants & Legal Professionals
Academics; Learning Institutions
Social Enterprise teams use it as an important and critical roadmap to building a sustainable operation. The report helps teach and coach to best practices.
Providing a social enterprise with an Assessment is an incredible capacity building gift.
The Social Enterprise Sustainability & Standards Award
Awards are available for business excellence if the assessed social enterprise scores a weighted average score of 75 or more out of 100.
The enterprise must be open for at least 6 months to be eligible
Look for this logo to identify the social entrepreneurs who are really set up for sustainability!
The social enterprises that go through the process but do not score high enough to win an award will be allowed to display a Participant Badge. This display shows others that the enterprise is taking steps toward high standards and sustainability.