Measuring for Greater Social Impact:
President & CEO, Citi Foundation,
Director, Corporate Citizenship, Citi
November 28, 2011 -- CECP spoke with Pam Flaherty, President & CEO, Citi Foundation, and Director, Corporate Citizenship, Citi about the company’s Results-Oriented Measurement System. Now three years into the initiative, Pam Flaherty shares the impetus behind the creation of the system, the greatest challenges encountered along the way, and the impact the company is able to track through the system.
CECP: Can you tell us about the work of the Citi Foundation?
Citi: The Citi Foundation supports the economic empowerment and financial inclusion of low- to moderate-income people so that they can improve their standard of living in communities where Citi operates. We make grants utilizing a results-oriented measurement framework that assesses the impact of the programs we fund. Our focus areas and what we seek to measure include:
- Financial Capability and Asset Building – Increase the number of low- to moderate-income adults and/or youth who adopt positive financial behaviors and accumulate and preserve financial assets
- Microfinance – Increase the supply of financial products supplied by microfinance institutions that improve and accelerate the financial inclusion of low- to moderate-income individuals
- Enterprise Development – Increase the number of micro or small enterprises that provide new income generation and/or employment opportunities for low- to moderate-income individuals
- College Success (in the U.S.) – Increase the number of low- to moderate-income secondary school students who are meeting the academic, financial and social milestones to enroll and complete postsecondary education
- Youth Education and Livelihoods (outside the U.S.) – Increase the number of low-income youth, ages 13-25, who demonstrate the skills needed to complete secondary school, become employed in a living wage job, start their own income-generating business or obtain postsecondary education or training
- Neighborhood Revitalization (in the U.S.) – Increase the number of small businesses, affordable housing units or community facilities that contribute to the economic and/or environmental sustainability of low- to moderate-income communities
CECP: What was the impetus behind the creation of Citi’s results-oriented measurement system?