Social Impact Assessment Project Fund (SIA Fund) is founded by the Hong Kong Institute of Social Impact Analysts (the institute) with the funds donated by Xu Family Charitable Foundation, Yifang Foundation, and RS Group. The first fund aims to explore, research and practice social impact analysis. All of the funds money will be spent on the programs social impact assessment research and practice. The institute will proceed to implement the programs, and thus drive the growth of research talents in social enterprises.

Founded in 2013, HKI-SIA is a membership-based association of social impact analysts, and was registered as a company limited by guarantee under the Companies Ordinance in December of 2013. The objectives of the Institute are:
A. To educate, promote and diffuse knowledge to the public on social impact analysis by adopting, including, without limitation, social return on investment, an international framework for measuring and accounting for social, environmental and economic outcomes, which seeks to reduce inequality and environmental degradation and improve well-being;
B. To promote, educate and implement social impact analysis in a wide range of bodies, corporations, unincorporated associations, organizations, institutions or government within the public, private and voluntary sectors in Hong Kong or elsewhere; and
C. To organize a network of social impact analysts in Hong Kong and to promote the social impact and commercial interests within the network.

The SIA Fund will start several forward-looking research and practice programs in 2015, including, but not limited to: (1) Exploratory research on wellbeing valuation: Pioneered in the UK, wellbeing valuation is a methodology with a high level of rigor that could assist a wide range of social service operators to monetize their social outcomes. SIA engaged the Centre for Quality of Life at the Chinese University of Hong Kong to undertake an exploratory study to examine the feasibility of introducing the valuation methodology to both Hong Kong and Chinese mainland. (2) This study assesses the social impact of two work-integration social enterprises using both SROI and B Impact Assessment (BIA) . The research findings will show the two major impact assessment frameworks complements, strengths and weaknesses in the context of two social enterprises for employment creation.

We hope that our donation to SIA Fund and its programs will accelerate the development of the professional discipline of social value accounting and impact evaluation in Hong Kong, Chinese mainland and Southeast Asia.

The institute’s website: http://www.hkisia.org/
SIA Fund’s website: http://www.hkisia.org/sia-fund.html
The institute’s blog: https://hkisia.wordpress.com/

Note: RS Group is a family foundation headquartered in HongKong. With its mission to be a catalyst, RS Group strives to create a sustainable environment and human friendly economy by transforming public values and value priorities.