Stock exchanges(NYSE)

Retail markets(Consumer Reports)

Investors

$

Dividends ($)

Products

$

EnterprisesCustomers

Investing

Foundations(?)

Community centers(?)

Donors /Volunteers

$ + effort

Stories / metrics

Services

Stories

NGOsBeneficiaries

Philanthropy

Good Capital markets(XIGI)

Community exchanges(UnaMesa)

Investors /Volunteers

$

Dividends ($) + stories

Products & services

$ + Stories

Social EnterprisesCommunities

Social Investing

This analogy helps frame the discussion, not intended to limit the discussion• $ represents the currency for financial transactions (buying shares, buying products, paying

dividends)– Measure by products sold and market share (ratio of # sold to total sold)

• Stories represent the currency for social interactions (sharing experiences, achieving common goals)

– Measure by positive stories told and ratio of positive experiences within community • Returns should be evaluated relative to investor expectations

– “Good” means that a return meets or exceeds expectations• Institutions (in gray) structure the exchanges

– Aggregate across individual transactions/interactions to provide dynamic feedback for participants

Notes

Quantifying the narrative

• Social value is best codified and transmitted in stories

• Financial value is best displayed in spreadsheets

Two views, but holistic value

• Both kinds of value are real, and they should be measured in the way that best displays their value.

How you quantify the narrative

• That’s something the StoryIndex project is about, figuring out how to encapsulate and measure narrative value along with numerical value

investment | philanthropy > social investing

social investing 2.0

Not making the heart hide behind a

spreadsheet but coming out front to

display narrative value

CommercialDebt

Grants

Infr

as

tru

ctu

re

Capital

SocialAngels

SocialVC

“PRI”Debt

PublicMarket SRI

LandscapeDefinition

Evaluation/Certification

Transactional(e.g. Funds)

ExchangePlatform

AA1000

GRI

RSF Social Finance

NFF Capital

Partners

Investors’Circle

Aspen Institute

Domini SocialInvestments

Underdog

Chicago ClimateExchange

SouthShore Bank

Calvert Special Equities - CF CI Notes - Calvert Mutual Funds

New Schools

BOVESPASocial

Stock Exchange

Origo

NFFLendingAcumen Fund Generation

Investments

GenerationFoundation

Ashoka

Deutsche Eye Fund

© Jay Coen Gilbert, Don Shaffer and John Katovich

The infrastructure for the Social Capital Market is emerging

CommercialDebt

Grants

Infr

as

tru

ctu

re

Capital

SocialAngels

SocialVC

“PRI”Debt

PublicMarket SRI

LandscapeDefinition

Evaluation/Certification

Transactional(e.g. Funds)

ExchangePlatform

CalvertPhilanthropicAssets/DAF

AA1000

GRI

RSF Social Finance

Local Exchange

NFF Capital

Partners

Investors’Circle

Aspen Institute

Domini SocialInvestments

Underdog

Chicago ClimateExchange

B Lab

Good Capital

SouthShore Bank

Calvert Special Equities - CF CI Notes - Calvert Mutual Funds

New Schools

Xigi.net

BOVESPASocial

Stock Exchange

UK SocialStock Exchange

Fourth Sector Network

Origo

NFFLendingAcumen Fund

Patient CapitalCollaborative Generation

Investments

GenerationFoundation

Ashoka

Deutsche Eye Fund

© Jay Coen Gilbert, Don Shaffer and John Katovich

More intermediaries a sign of new money in the Blended Value Market

Our focus:Mapping these nascent exchanges, composing

a glossary and

translation table of how

they define value in

other than monetary terms;

a Rosetta Stone of story value