The F. B. Heron Foundation is using CoMetrics as the data platform underpinning its strategy to invest 100% of its assets for impact. The Foundation is accomplishing the following with CoMetrics:
- The ability to see financial results alongside social outcomes
- A reduction in the compliance burden for its investees
- Returning data back to investees in actionable form so that they can learn and adjust their own strategies for better results
The Heron Foundation appreciates how interacting around the data can contribute to better performance management of its investees. It has broken from the pack by investing in CoMetrics to create a common platform through which recipients of its newest investment product, Enterprise Capital, will report their results. EC is funding targeted to the growth of enterprises (nonprofit, for-profit, or other legal forms) and not to specific projects.
CoMetrics has created a common chart of accounts onto which each investee has been mapped. Each quarter, investees submit both financial and social impact data, which is standardized, reported to Heron through an interactive web interface, and then returned to investees for their own analysis.