Common Impact and Capital One Make the Business Case for Skills-Based Volunteering in New Report

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Common Impact, a nonprofit organization that engages global companies and local nonprofits in skills-based volunteering (SBV) partnerships, and Capital One Financial Corporation have announced the availability of “Measuring the Results: Making the Business Case for Skills-Based Volunteering,” the third and final report in Common Impact’s study of nonprofit operational efficiency and the role of SBV in addressing operational gaps.

Skills-based volunteering partnerships, the report finds, require a strategic approach that aligns the intended outcomes with both short-term and long-term organizational goals.

Common Impact, a nonprofit organization that engages global companies and local nonprofits in skills-based volunteering (SBV) partnerships, and Capital One Financial Corporation have announced the availability of “Measuring the Results: Making the Business Case for Skills-Based Volunteering,” the third and final report in Common Impact’s study of nonprofit operational efficiency and the role of SBV in addressing operational gaps.

The report, sponsored by Capital One, outlines the business case for skills-based volunteering by exploring in depth the key success factors and requirements for readiness that nonprofits must embrace before embarking on an SBV engagement. SBV partnerships, the report finds, require a strategic approach that aligns the intended outcomes of an SBV engagement with both short-term and long-term organizational goals.

Specifically, the report focuses on three key steps for success with SBV:

  •     Assessing readiness – mapping SBV goals to organizational goals and designing the framework for the engagement
  •     Getting “project ready” – scoping and matching potential projects to the needs of the organization
  •     Measuring impact – defining the criteria for success and then measuring the short- and long-term impacts of the engagement

To illustrate how companies and nonprofits have successfully partnered on skills-based volunteering projects, the report also contains case studies of organizations, including the Greater Boston Food Bank and YES (Youth Enrichment Services), both based in Boston; and Henrico Education Foundation, located in Henrico County, Virginia.

“Skills-based volunteering is emerging as a viable and valuable strategy for nonprofits who need creative solutions in order to grow, deliver new programs and serve communities in need,” said Theresa M. Ellis, CEO of Common Impact. “This multi-year project has been a massive undertaking, and the culmination of our work is a strong affirmation for our mission to build stronger communities through nonprofit-corporate skilled volunteering partnerships. Capital One has been instrumental in making this project a reality, and we are deeply grateful for their support.”

“We have a deep and sustained commitment to the communities in which our associates live and work, and pro-bono relationships with community-based nonprofits is a key part of that commitment,” said Matt Hines, Senior Manager, Corporate Volunteerism, Capital One. “In supporting projects like Common Impact’s study, we aim to both raise awareness of the operational challenges that nonprofits face and offer solutions, such as skills-based volunteering that will help make those nonprofits – and the communities they serve – stronger from within.”

About Common Impact
Common Impact is a nonprofit organization that connects skilled professionals from global companies to high-potential local nonprofits. Our employee engagement programs match employee-volunteers with nonprofits that need help overcoming key business challenges. This innovative approach to corporate community service enables companies to realize a positive return on their social investment while building stronger teams and developing employee skills. At the same time, this access to private sector talent enables nonprofits to amplify their impact on the constituents they serve. Ultimately, our work helps foster stronger communities wherever those companies operate.

Further information can be found at http://www.commonimpact.org/.

About Capital One
Capital One Financial Corporation (http://www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A. and Capital One Bank (USA), N. A., had $128.3 billion in deposits and $200.1 billion in total assets outstanding as of September 30, 2011. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One, N.A. has approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

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Meghan Gardner
Common Impact
(857) 222-2864
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