We are delighted to now be able to share an evaluation of the £31.8m Scottish Investment Fund, launched by the Scottish Government in 2008/9 and making significant investments ever since in third sector organisations across Scotland. Now fully committed, almost 70 organisations have received social investment packages from the fund.
Our independent study has found that:
– 45% of projects would not have taken place at all had it not been for the SIF
– 100% of organisations report increased effectiveness, with 96% increasing their trading income as a proportion of total income and 95% reporting increased organisational capacity
– The SIF has already supported the creation of over 1100 FTE jobs; at least a further 400 are expected to be created over the next three years.
– The main outcome area of organisations supported by the SIF (from the SIS Outcomes Matrix) has been that of employment, training and education; on average 40% of the beneficiaries of the SIF live in Scotland’s most deprived communities.
Alongside these indicators, SIS are delighted to have been rated so highly by our SIF customers. Two-thirds awarded full marks when asked to score their relationship with SIS staff and an average mark of 9 out of 10 for our management of the fund overall.
The Scottish Investment Fund has had a crucial influence upon the development of the social investment marketplace in Scotland as well as a key driver of the whole social enterprise sector. We believe that this report is significant in highlighting the ‘Scottish’ approach to social investment. I am sure that you will receive the news release in due course however it would be wonderful if the report could be featured in some way in this week’s bulletin.
The final report, completed in the summer, is now available to download from our website at http://www.socialinvestmentscotland.com/about-us/our-social-impact/