個案總覽

Roberts Enterprise Development Fund (REDF) transformed its philanthropic practice into a social venture capital practice in 1997 with a portfolio of nonprofit enterprises in the San Francisco Bay Area. This case presents REDF's analysis of the changing needs of the nonprofit marketplace.

The executive director of the Asian Neighborhood Design (AND) attempts to quantify the potential financial and social return for investors in his nonprofit enterprise. AND seeks to raise $2.27 million. However, as a nonprofit organization, it cannot offer potential equity investors a share of future earnings, and it is not eligible for loans. The Roberts Enterprise Development Fund encourages AND to apply for a grant, but requires that the organization demonstrate that it is both operating efficiently and achieving its social goals. Using innovative tools including a true cost accounting framework and a social return on investment analysis, the director attempts to capture the fund's likely total return on investment. As the field of social enterprise continues to develop, such methods are increasingly important tools for managers and funders to measure real social and financial results.