Social Value US formally incorporates
APRIL 11, 2017
After operating through less formal collaboration among volunteers since 2014, Social Value US reached a milestone on April 11, 2017 by receiving formal recognition as a nonprofit corporation registered with the state of Arizona.
Our mission is to:
- Maximize the positive effects and minimize the negative effects of organized human action—in all sectors—on society
- Improve the ways organizations collect, analyze, and interpret data for the purpose of developing a complete understanding of their social impacts
- Ensure that intended and unintended social impacts reflect the values of the widest range of stakeholders, including those who typically do not have a strong voice in society
SV-US will connect individuals, serve its members, and support their learning, growth, and influence as we will build a movement to change the way society accounts for value.
Joining SV-US will be of interest to people with a broad range of perspectives who will work with us to put the organization’s guiding principles into practice, including but not limited to:
- Accountants
- Investors
- Non-profit organizations
- Environmental organizations
- Evaluators
At the core of our work are The Seven Principles of Social Value. The Principles provide the necessary building blocks for anyone who wants to make decisions that take a wider definition of value into account, in order to increase equality, improve wellbeing and increase environmental sustainability. They are generally accepted social accounting principles.
The Seven Principles:
- Involve stakeholders – Inform what gets measured and how this is measured and valued in an account of social value by involving stakeholders.
- Understand what changes – Articulate how change is created and evaluate this through evidence gathered, recognizing positive and negative changes as well as those that are intended and unintended.
- Value the things that matter – Making decisions about allocating resources between different options needs to recognize the values of stakeholders. Value refers to the relative importance of different outcomes. It is informed by stakeholders’ preferences.
- Only include what is material – Determine what information and evidence must be included in the accounts to give a true and fair picture, such that stakeholders can draw reasonable conclusions about impact.
- Do not over-claim – Only claim the value that activities are responsible for creating.
- Be transparent – Demonstrate the basis on which the analysis may be considered accurate and honest, and show that it will be reported to and discussed with stakeholders.
- Verify the result – Ensure appropriate independent assurance.
The first Board strategy retreat was held in Breckenridge, Colorado on Earth Day, April 22, 2017.