Program Evaluation
ICIC offers a unique and personalized approach to impact investment evaluation, providing clients with comprehensive services tailored to their specific needs. With a small, adaptable, and highly effective research team, ICIC builds long-standing relationships with clients to deliver in-depth evaluations that go beyond traditional methods.
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ICIC’s Four Core Evaluation Principles:
Comprehensive Data Collection and Analysis
ICIC specializes in gathering both qualitative and quantitative data, utilizing custom surveys, in-depth interviews, and on-site visits to measure the direct impact of investments. This approach allows ICIC to assess the real-world outcomes of investments and ensure that they align with broader social missions, such as addressing economic inequality or improving community development. By placing a strong emphasis on personal and recurring relationships with both clients and the communities they impact, ICIC ensures that the evaluation process is thorough, transparent, and directly tied to on-the-ground realities.
On-the-Ground Impact Assessments
What makes ICIC’s services truly stand out is their ability to frame investment outcomes within broader societal contexts. For example, when evaluating investments in areas like affordable housing, ICIC looks at both the economic impact and how those investments help reduce racial inequality. This holistic approach provides clients with actionable insights to scale their investments for greater long-term impact.
Customized Deliverables for Client-Focused Results
ICIC’s team is skilled at producing deliverables that are customized to meet each client’s specific mission and audience. Whether it’s a comprehensive report, an interactive dashboard, or a presentation to potential partners, ICIC ensures that key findings are presented in a way that drives future growth and strengthens relationships.
Long-Standing Relationships for Sustainable Growth
With a focus on building strong, long-term partnerships, ICIC is uniquely positioned to help clients achieve their impact goals while fostering lasting change in the communities they serve. These long-term relationships facilitate our ability to measure outcomes over time.
Project Examples: Measuring and Enhancing Impact
Through our specialized evaluation services, ICIC has partnered with a variety of organizations to measure and enhance their impact across diverse communities, helping them better understand the outcomes of their investments and identify pathways for continued growth and success. Below are some examples of the organizations we’ve worked with, and the outcomes achieved.
Arctaris Impact Investors
ICIC embarked on an evaluation partnership to assess the social and economic outcomes of investments made by Arctaris Impact Investors in businesses operating within under-resourced communities. This evaluation helps Arctaris demonstrate the real-world impact of their investments, such as creating jobs for local residents, paying living wages, and fostering diversity by increasing opportunities for people of color and women in ownership, management, and employment. By analyzing survey data, public records, and interviews with business owners and community stakeholders, ICIC is helping Arctaris measure the effectiveness of its Qualified Opportunity Fund (QOF) and other investments, focusing on outcomes like sustainable business practices, racial equity, and economic opportunity.
JPMorgan Chase Small Business Forward Program
ICIC partnered with JPMorgan Chase on its five-year, $150 million Small Business Forward initiative, to assess the impact of its support for small businesses through incubators and accelerators. Our evaluation provided JPMorgan Chase with actionable insights by tracking the revenue, growth, and capital-raising success of businesses that received assistance. We also analyzed the inclusiveness of the incubators and accelerators, providing JPMorgan Chase with a clear picture of how well they were supporting diverse businesses, particularly those led by women and people of color. These insights helped guide future investments in small business development and innovation.
References available upon request.
Prison Entrepreneurship Program
ICIC evaluated the Texas-based Prison Entrepreneurship Program (PEP), which aims to reduce recidivism and increase economic opportunities for formerly incarcerated individuals. ICIC’s findings, based on surveys, interviews, and economic data, helped PEP quantify its success in driving meaningful change—such as helping graduates secure stable employment, improve income levels, and access necessary resources like housing, transportation, and business networks. This evaluation underscored PEP’s role in transforming lives, reducing recidivism, and generating positive economic impacts on the state and metropolitan areas.
Financial Solutions Lab
ICIC conducted a comprehensive evaluation of the Financial Solutions Lab (FinLab) to measure its success in supporting high-growth fintech companies aimed at improving consumer financial health. By analyzing survey data and conducting in-depth interviews, ICIC helped FinLab understand how its support impacted fintech companies’ growth and, more importantly, the financial health of the consumers they served. ICIC’s insights allowed FinLab to assess its contribution to the broader fintech ecosystem and adjust its approach to drive greater outcomes for both participating businesses and consumers.