PCV has been evaluating social impact metrics for years and knows that producing positive social benefits alongside financial gains doesn’t mean sacrificing business competitiveness.
We survey our small business network every year and reveal the social impact that these business owners might not even realize they are having. In 2012, our in-house impact evaluation team revealed that PCV-advised businesses supported 2,500 employees – 58% of which were residents of lower-income communities – and helped to create almost 200 new jobs that pay living wages, offer healthcare benefits and promote career advancement. These are the kinds of metrics that demonstrate businesses can have an impact on their community far beyond financial gains.
PCV evaluates its own impact and also the social impacts of some of the most prominent institutional investors and philanthropies in the world, including the California Public Employees’ Retirement System (CalPERS) and The Annie E. Casey Foundation. We offer customizable solutions for our clients, making it easy for them to report on the non-financial information that stakeholders and the public are increasingly demanding. The power of these non-financial metrics is evident in the case of PCV’s work with the California Department of Insurance’s California Organized Investment Network (COIN).
In 2013 PCV’s impact evaluation consulting practice advised COIN on an economic analysis of Assembly Bill 32. Introduced by Speaker John A. Pérez, AB 32 proposed increasing the annual cap on qualified investments under the COIN CDFI Tax Credit program from $10 million to $50 million, allowing investors to dedicate additional capital to underserved communities while receiving a 20% tax credit for their efforts. The increase in qualified investments seeks to direct more capital to California’s Community Development Financial Institutions (CDFIs), organizations like PCV that deploy financial and technical resources to underserved communities. With PCV’s help, COIN staff prepared and presented before the state legislature an economic analysis that estimated AB 32 would generate $460.4 million in total economic impact and 3,128 jobs statewide. PCV is pleased to have been able to assist the COIN team in their analysis and to have played a supporting role in the passage and adoption into law of AB 32.