Why impact & financial performance reporting?
Inspired by the effective altruism philosophy, Norrsken Foundation continuously seeks the most effective ways to benefit our ecosystem of changemakers. We carry a huge responsibility in bringing about the greatest positive impact with the resources we have. While the self-cost of a Norrsken House member to Norrsken Foundation is currently at 6000 SEK, it costs the Against Malaria Foundation (AMF) approximately 26000 SEK to save a human life. In other words, the opportunity cost of one year of discounted membership at Norrsken House could be one human life or even more. We offer select entrepreneurs/intermediaries the subsidized impact membership instead of donating to AMF because we believe that the positive impact of entrepreneurial (tech) solutions will not save one, but millions of lives. We, therefore, view our impact tech members as investments that should have a growth trajectory leading them towards growing out of Norrsken House. In order to evaluate our investment decision in your organisation, we ask you to report on your impact and financial performance quarterly. It is compulsory to fill in this questionnaire if you wish to continue in the impact tech entrepreneur category.
There are additional benefits to this new reporting initiative:
- We believe that reporting on your impact data systematically and periodically will help your organisation focus on the right priority areas.
- By showing our impact, collectively we will be able to draw more attention from (impact) investors and attract other sources of funding to your organisation and the impact world in general.
- The Norrsken team will be able to assess the impact of Norrsken House on its ecosystem of entrepreneurs, intermediaries and investors, and understand how we can better equip ourselves to help you achieve your goals.
We are a non-profit organisation, we do not generate revenues or raise investments. How should we handle those questions?
Please put zero (“0”) to those questions that do not relate to your organization or skip them. You can treat income from your fundraising activities as “revenues”.
We do measure our impact annually, not quarterly. What should we report on if we do not have updated information every quarter?
It is advisable to collect & analyse data showing that you are progressing towards your impact goals in shorter time spans than annual. If you do not have the capacity to collect the data, please report on the same data in all quarters until you have updated information.