The Allstate Foundation and five other leading corporations have announced that they are moving to a new reporting platform that, down the road, could generate a billion dollars in efficiencies for the nonprofit sector.
Creating customized reports for funders is one of the most time-consuming tasks nonprofits face. But a new open-sourced platform called the Impact Genome® Project (IGP) is determined to do something about that by turning unstructured data from academic studies, nonprofit programs, and expert opinion into a structured knowledge system. Allstate and its partners — AT&T, Intel, Moody's, T. Rowe Price, and the Albertsons Companies — will adopt the IGP platform as their standard for reporting on the results of their grantees, believing it has the potential to help funders, practitioners, researchers, and policy makers make data-driven social investments, design more effective programs, and, ultimately, solve social problems.
In the past, nonprofits have had to develop their own metrics and generate customized performance reports suited to the needs of individual funders. The IGP platform uses a universal survey that collects key data points in less than an hour to generate a single scorecard that summarizes a nonprofit's outcomes and provides benchmark data that can be used to compare their results with other organizations in the field.
"The Allstate Foundation empowers people with confidence and opportunities to live the life of their dreams," said Vicky Dinges, the company's senior vice president of corporate responsibility. "We funded the Impact Genome Project to help us understand what makes programs we support successful. But it's more than that. The insights from the IGP platform ensure that all of us are driving real and sustainable societal change, which is ultimately the end goal."