In the era of massive data collection and analysis, the subject of data transparency is often mentioned. ‘Data transparency’ refers to the practice of making inputs or data flows visible to donors, stakeholders, project partners, different departments, and possibly the public. In recent years, it has shifted from an abstract ideal to a necessary component of any successful social impact enterprise. In fact, nonprofit database Guidestar reported in 2019 that transparent nonprofits average 53% more in contributions and perform strongly across a range of dimensions. However, the benefits of transparency extend far beyond donor relations. Operational transparency can improve existing practices, connect organizations with partners in the same space, and maximize social impact by working hand in hand with partners and the community.
Investing has become synonymous with growing capital rapidly and efficiently. But with the uncharted growth of the new impact investing industry, social responsibility and impact are becoming key players in company ratings and development. Learn more about how GIIRS (The Global Impact Investing Rating System) can play a key role in facilitating this industry.
Over the last several months, government agencies across the US at the state, county, and city level have launched COVID-19 dashboards to provide up-to-date information about the pandemic in specific regions. However, there are notable differences in functionality, transparency, and overall effectiveness among dashboards.