The Mt. Carmel Veterans Service Center doubles every dollar invested in the nonprofit, according to independent research by the National Institute for Social Impact.
The Colorado Springs-based charity, which was founded in 2016 and has served more than 34,000 veterans, gives back every dollar donated to the community as two dollars.
The measure is called social return on investment and is the measure of the value of the efforts made by an organization to alleviate a social, environmental or community problem.
“Measuring social return on investment helps nonprofit and for-profit entities and their funders clearly articulate their social impact using the language of dollars and cents,” said Stacey Burns, Founder and Vice-President. president of the National Institute for Social Impact. “Similar to a traditional ROI calculation, describing the gain generated on a business investment, social ROI quantifies an organization’s contributions to building its community.”
Mt. Carmel works with community partners to provide programs and services in three areas: transition and employment services, connection to community resources, and behavioral health and wellness support.
The study can be viewed at Veteranscenter.org/sroi, and information on social return on investment is available at ni4si.org.
The study shows that the Mt. Carmel Veterans Service Center returned $2,266,309 in value to the community, establishing $1,521,277 in economic impact, $583,858 in social services and $161,224 in taxpayer savings, according to tax data 2019-2020.
According to a press release from the Mt. Carmel Veterans Service Center, the social return to the community has resulted in a significant increase in the number of veterans finding employment, as well as a reduction in unemployment and job turnover.
Mt. Carmel provided increased resources for veterans and families, including behavioral health, wellness support and treatment, according to the release.
The organization continues its efforts to reduce homelessness, arrests and incarceration of veterans.
“We are extremely proud of the progress made by our team and our community partners in the communities served by Mt. Carmel,” said Bob McLaughlin, COO and retired Colonel. “To think that we have been able to double the generous investment that our community partners have made over the past year amazes me. My team is very proud that our efforts are making a difference in our community and in the lives of the veterans and military families we proudly support every day.
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