Integration Builds Momentum for Sector-wide Common Applications, Benchmarking, and Reporting
CHICAGO and SAN FRANCISCO, May 19, 2022 /PRNewswire/ -- The Impact Genome Project® announced Fluxx will integrate with the Impact Genome's universal nonprofit impact registry. Fluxx joins SmartSimple in uniting philanthropy technology leaders in standardizing and quantifying social outcomes. Together, these grants platforms include more than 500 foundations and represent $23 billion in annual giving.
"This is a new day for philanthropy. A simple idea – creating a common, centralized registry for nonprofits to store their impact data – has the potential to revolutionize the social sector," said Jason Saul, CEO, the Impact Genome Project. "By integrating with the Impact Genome, Fluxx and SmartSimple are leading the field toward greater equity, transparency and accountability."
For funders, a common registry enables a new generation of functionality, including 'closest matching' searches, verified impact reporting, portfolio analysis, and benchmarking. For nonprofits, access to the Impact Genome's standardized and centralized registry will reduce administrative costs and avoid the need to continuously enter the same data into different grant systems.
"One of the key legacies of the global crises of the past two years is that we need shared infrastructure to ease nonprofit burden," said Chantal Forster, executive director, Technology Association of Grantmakers. "Increasingly, grantmakers have realized that investing in common data and shared technology tools across the sector reduces nonprofit overhead, improves equitable access to funding, and enables room for trust-building and collaboration."
For Grantmakers: A New Way to Invest in Social Impact
The Impact Genome provides an objective and efficient way to source, compare, and independently evaluate social impact, enabling grantmakers to operate more like investors. The system also offers grantmakers the ability to view individual grantee scorecards as well as aggregate impact reports, rolling up common data from across their entire grants portfolio. Even before they make a grant, funders can view standardized, comparable impact data on more than two million nonprofit organizations in the U.S. and Canada.
The impact registry's 'closest matching' search feature allows funders to find nonprofits that focus on specialized outcomes aligned to their strategic priorities. Organization matching can help to streamline an RFP process and reduce unqualified grant applications.
"Integrating with the Impact Genome's universal registry enables Fluxx to help our customers benchmark and act on their impact data," said Kerrin Mitchell, chief development officer and co-founder, Fluxx. "By standardizing on impact taxonomies, we can reduce the reporting burden on grantees and continue to forge relationships between givers and doers."
For Nonprofits: Accelerating Access to Funding
The Impact Genome's universal registry will automate grant applications and reports by allowing nonprofits to store and access organizational and program data from a centralized clearinghouse. Currently, nonprofits spend 15 hours or more on each grant report¹ amounting to billions of dollars spent on redundant administrative tasks each year. With a universal registry, nonprofits can store information on their program design, beneficiaries, theory of change, impacts, DEI, and evidence in one centralized location.
By using a registry, nonprofits can now be more discoverable by funders seeking to fund specific outcomes and beneficiaries. This new level of discoverability is intended to help nonprofits of all sizes be equally capable of competing for funding based on their ability to deliver results, instead of their marketing materials or connections.
Standardized data will also help nonprofits tell their impact stories in consistent and structured ways, using data on program efficacy and cost-per-outcome. The Impact Genome also helps nonprofits set quantifiable goals and provide outcomes-based reports to funders, increasing transparency between grantor and grantee.
"With the Impact Genome integration, we are now better able to help our grantmaking clients adopt more equitable practices and significantly elevate their social impact reporting," said Mike Reid, co-founder and chief operating officer, SmartSimple.
Nonprofits can join the registry at no cost by completing a profile here. Foundations, corporations, and other grantmaking organizations should contact their Fluxx and SmartSimple representatives for more information about how the Impact Genome integrates with their grants management systems.
About The Impact Genome Project
The Impact Genome Project is a universal registry that enables nonprofits and funders to standardize, verify and report social outcomes. The project is a public-private research initiative developed in collaboration with leading social scientists, economists, statisticians, and data entrepreneurs. With the Impact Genome's standardized data, nonprofits and funders can evaluate and report on more than 132 common social outcomes. The Impact Genome Project is an initiative of Mission Metrics, LLC.
Fluxx is the most trusted cloud-first grantmaking solution. Purpose-built by grantmakers for grants management, Fluxx is women-led, a DEI champion, and a Pledge 1% member organization. More than 350 world-class foundations and government organizations use Fluxx, including 10 of the top 20 foundations, granting more than $15 billion annually and impacting more than 150,000 non-profits. Find out more at www.fluxx.io and follow @fluxxlabs on Twitter.
Founded in 2002, SmartSimple Software has pioneered cloud-based workflow and collaboration solutions for two decades. SmartSimple's platform, SmartSimple Cloud, is award-winning and highly rated by organizations looking for flexibility, security, and advanced features. Trusted by 450+ clients globally, including prominent foundations, Fortune 500 companies, and government funders, the platform connected 1.8 million end-users to billions of dollars in critical grant funding last year alone. To learn why SmartSimple was recently rated highest in advanced features, visit smartsimple.com and follow them on LinkedIn.
SOURCE Impact Genome Project
© Copyright 2022 Feintuch Communications, Inc.
Site design by Bob Buchanan Design.
Photography and videography by Connor Leszczuk.
MediaRoom technology and hosting by PR Newswire.