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New Study of STEM Partnerships Provides Suggestions for More Effective Collaboration and Measuring Social Return on Investment
Posted: Feb 06, 2014 – 11:40 AM EST
WASHINGTON, Feb. 06 /CSRwire/ - The U.S. Chamber of Commerce Foundation today released A Lesson Plan for Partnerships: Insights from STEM Nonprofits, a look at best practices related to business-nonprofit collaboration and communication. The study, developed by the Foundation’s Corporate Citizenship Center, examines the relationships between leading Science, Technology, Engineering, and Mathematics (STEM) nonprofits and their business partners and identifies several ways to improve relationship between nonprofits and businesses.
“Businesses today are looking to create long-term, strategic partnerships with the nonprofit community,” U.S. Chamber Foundation President John McKernan said. “This research not only showcases the traits of a successful strategic partnership, but also provides valuable suggestions for making business-nonprofit collaborations more fruitful.”
The study examined nonprofit recipients of the Department of Education’s Investing in Innovation Fund (i3) to demonstrate how leading nonprofits effectively partner with businesses, as well as how they measure their success and share that information with corporate donors. A Lesson Plan for Partnerships reveals five findings that highlight how business-nonprofit partnerships can be more strategic and shows how leading companies measure the “social return on investment” (SROI) for their donations. It also provides suggestions for nonprofits to improve SROI reporting.
“While STEM nonprofits were the focus of the study, we believe these findings can apply to public-private partnerships across numerous issue areas,” said Marc DeCourcey, executive director of the U.S. Chamber of Commerce Foundation Corporate Citizenship Center. “We are excited to see the benefits that will come from nonprofits and businesses applying these findings to their own partnerships.”
The full report is available here.
The U.S. Chamber of Commerce Foundation (USCCF) is a 501(c)(3) nonprofit affiliate of the U.S. Chamber of Commerce dedicated to strengthening America’s long-term competitiveness by addressing developments that affect our nation, our economy, and the global business environment.
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.
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For more from this organization:U.S. Chamber of Commerce Foundation Corporate Citizenship Center