Social and Sustainable Capital (SASC) unveils 2023 Impact Report: “No shortcuts to creating real social impact”
Social and Sustainable Capital (SASC) has published its 2023 Impact Report, titled “No shortcuts to creating real social impact,” which highlights SASC’s significant progress in the last two years, including 11 new investments totalling over £29 million.
The investments into charities and social enterprises engaged in supported housing have empowered these organisations to deliver more essential services to communities in need.
The report explores the impact of SASC’s investments in detail and includes compelling research findings among borrowers, revealing that 100% acknowledged the positive impact of the investment, with 88% stating their organisational resilience had also improved.
A decade of Impact:
Last year was a milestone year for SASC as it celebrated a decade in business. With a total investment of £167.7 million during this period, SASC remains steadfast in its commitment to helping its borrowers drive meaningful change across the UK.
The report explores the key achievements during this time and lessons learned about the contribution social investment can make when designed specifically for people, communities, and the voluntary sector organisations that support them.
10 Highlights:
- 2014: Our CIF and TSIF funds are born with support from Big Society Capital and Social Investment Business.
- 2015: Harrogate Skills for Living, our first borrower.
- 2016: Giroscope making good things happen in Hull.
- 2017: Hull Women’s Network, our lightbulb moment.
- 2018: Homes for Good, our first project in Scotland.
- 2019: The launch of supported housing fund SASH marks a pivotal moment for SASC.
- 2020: Rapid approval of £16.5 million in projects within 9 months to support the COVID response.
- 2021: Collaboration on the Gainsborough housing regeneration project with P3, marking the third joint project.
- 2022: Introduction of SASH II, building upon the success of SASH I.
- 2023: Approval of the first five projects totalling £15 million for SASH II, supporting exemplary, people-first charities.
Scott Greenhalgh, Chair of SASC, said: “Inequality and social need remain deeply entrenched in the UK, but we continue to be impressed by the tenacity and resilience of our voluntary sector borrowers in addressing areas of disadvantage.
We are proud to have supported 54 high performing charitable organisations since 2014 who have delivered significant impact across many sustainable development goal areas.”
Mark Bickford, CEO of SASC, reiterated SASC’s dedication to creating genuine social impact. “Through our SASH funds, we support social sector organisations expand their property portfolios. To date, we have supported 26 voluntary sector organisations, facilitating the housing of over 1,500 vulnerable individuals in 460 properties and we want to build on this. Our funds aim to enhance the well-being of individuals, families, and communities,” he stated.
Lessons learned:
The report highlights that lessons learned by SASC include the importance of listening to borrowers about what they need from an investment and acknowledging there are no shortcuts to creating lasting impact. Fundamentals like genuine social purpose, quality control and appropriate funding structures must always take precedence over rapid, financially driven growth.
Key highlights from the 2023 Impact Report:
- Approval of 11 new investments, totalling over £29 million, in 2022 and 2023.
- Continued dedication to addressing inequality and social need through strategic social investment.
- Total investments of £167.7 million.
