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2014 2014. 11.

연구책임 문철우 ( 성균관대학교교수 ) 연구원 최희원 ( 성균관대학교연구원 ) 권성일 ( 성균관대학교연구원 ) 고연경 ( 성균관대학교연구원 ) 김은정 ( 성균관대학교연구원 ) 성미진 ( 성균관대학교연구원 ) 오윤식 ( 성균관대학교연구원 )

목 차 1 1 3 Ⅰ. 4 Ⅱ. 6 2 9 Ⅰ. 11 Ⅱ. 14 Ⅲ. 18 Ⅳ. 22 Ⅴ. 25 Ⅵ. SK 29 Ⅶ. Acumen Fund 32 Ⅷ. 34 3 43 Ⅰ. Framework 4 Ⅱ. Framework 47 Ⅲ. 49 4 52 Ⅰ. 53 Ⅱ. (1) - 85 Ⅲ. (2) - 36 Ⅳ. (3) - YMCA YMCA 2 7 Ⅴ. (4) - 97 Ⅵ. (5) - 58 Ⅶ. (6) - 29 Ⅷ. (7) - H&S 89 Ⅸ. (8) - 104 Ⅹ. (9) - 108 Ⅺ. (10) - 14 Ⅻ. (11) - 19

5 125 Ⅰ. 126 Ⅱ. 127 6 128 Ⅰ. 129 7 Pre-test 156 I. Pre-test 157 Ⅱ. Pre-test 160 Ⅲ. Pre-test 195 8 198 Ⅰ. 199 Ⅱ. 211 Ⅲ. 213 219

표목차 < 1 > 5 < 2 > 5 < 3 > 10 < 4 > SK SE BROI 03 < 5 > (2013) 63 < 6 > (2013) 73 < 7 > (2013) 93 < 8 > ; (2013) 04 < 9 > ; 41 < 10 > Framework 4 < 11 > (2014) 15 < 12 > 53 < 13 > 2014 54 < 14 > 5 < 15 > ( ) 58 < 16 > ( ) 63 < 17 > (YMCA YMCA) 2 7 < 18 > () 79 < 19 > () 85 < 20 > () 92 < 21 > (H&S) 89 < 22 > () 104 < 23 > () 108 < 24 > () 14 < 25 > () 19 < 26 > 126 < 27 > 1 () 131 < 28 > 1 () 13 < 29 > 1 (,, ) 136 < 30 > 2 138 < 31 > 3 140 < 32 > 143 < 33 > Pre-test 158 < 34 > 50 Pre-test 196 < 35 > (2011) -, 20 < 36 > (2014) - 201 < 37 > (IRIS) - (Education) 802 < 38 > 211

그림목차 < 1 > Shujog Sustainability Pyramid 2 1 < 2 > Social e-valuator 51 < 3 > BACO ratio 32 < 4 > BACO Ratio 3 < 5 > 39 < 6 > Framework 47 < 7 > 65 < 8 > 68 < 9 > 69 < 10 > YMCA 7 < 11 > YMCA 78 < 12 > 83 < 13 > 84 < 14 > 8 < 15 > 90 < 16 > 96 < 17 > H&S 10 < 18 > 106 < 19 > WA 121 < 20 > 122 < 21 > 211

요약문

2 요약문 요약문 - 18 2013 7 11-165, 448, 93 706 11 -, -, 50 ( 5%) Pre-test -, 1( ), 2 3( )

제 1 장 연구목적및개요

1 Ⅰ. 1. 2. 2014. 06. 13() ~ 2014. 11. 30 3. 2013 (,, ) - /, -,,

-,,,, 4. ( 1) 5. ( 2)

Ⅱ. 1. [Ⅰ] - 14 7.15-7.31 (0.5) -,, (), 1 -,, [Ⅱ] - 14 8.1-9.30 (2) - 1 11 [Ⅲ] - 14 9.1-9.30 (1) - [ IV] Pre-test - 14 10.1-11.15 (1.5)

- 18, 50 Pre-test ( 5%) - - 2013 7*2 =14-2014 10*3 + 2 = 32-4 [ V] - Pre-test (12 ) - - - 2. : 2014. 12. 11() 10:00 : ( 159 317) : : ()

: - : - :,, - ():,, - SK :,

제 2 장 사회가치측정기존연구의분석

Ⅰ. (,, 2012) 1. -, -, 2. -, - - SROI(Social Return On Investment) :,, - GIIRS(Global Impact Investing Rating System) : GIIRS - Impact Investment Shujog : Shujog Sustainability Pyramid

- 3. -, -,,,, -,,

vs. - -, - - -, -

Ⅱ. (,, 2011) 1.., 2. () - () - SROI (KAIST, 2010) - SROI - BSC (, 2009) () - nef Guide - Social e-valuator; SROI - VOIS Database; The SROI network - IRIS(); Guide - -, - - -

- (testable), (replicable), (verifiable) - - - - (Blended Value) SROI 3. 2010, 2011, 2012 時 Master-plan

2010 KAIST Database,,.,,,,, ' 2012 Model, Model,,,,,,

Ⅲ. (, 2012) 1., 2. - :. - :,,, - SROI(Social Return on Investment):, REDF nef The SROI Network - IRIS(Impact Reporting and Investment Standards):,,, 2008 Acumen Fund, B Lab, Rockefeller Foundation, 2009 GIIN IRIS, IRIS,

-,, - (2011) - KAIST(2010) - (2010) - (2008) - - SROI REDF nef,, -, - 3. -, -, -

, -, - SROI - SROI TFT,. -, 2011 - - - - - - -,.,

- -, - -

Ⅳ. (, 2012) 1., 2. -, - - -

BC - 2 411 4,197 -,, 2009 2010 2011 6-411 230(60%), 48(11.7%), 45(11.0%), 36(8.8%), 8(2.0%), 2 44(10.7%) - : 1,649 767, 882 53.49% - : 1,206, 306, 724 29.37% - : 99 1 48 - : 99 9

1, 10% - 81, 49, 31 3. - - - -, / -,, - -

Ⅴ. (,, 2012) 1. 1 2 3 1 2 3 4 5 1 2 2. -, - Theory of Change and Logic Models

- Balanced Scorecard 1 2 3 4 5 - IRIS(Impact Reporting and Investment Standard): Template - Indicators Library - GIIRS(Global Impact Investing Rating System): GIIRS Analystic Platform, Reporting,, - SROI(Social Return On Investment):, - - Social e-valuator: SROI, SROI - TSP Dashboard(Third Sector Performance Dashboard): 6 8,, - - OASES(Outcome Assessment for Social Enterprises):

- AA1000(Account Ability 1000 Assurance Standard): Impact - Atkisson compass Assessment:,,, 4 5 Integration" - Local Multiplier 3: - ABCD Model:, - KSCPI(Key social and co-operative Performance Indicator): / Co-operatives UK, - Eco-mapping: 1 - Prove It!: - 1 2 3 4 5 6 7 3. -,, -

- SE/NPO - Impact Summit 3 10

Ⅵ. SK (, 2013) 1. SK / 39, 2. - SK / 39 - Framework - 1SE Framework 2 3 4 SK - - 2,663, -12-2012 6 1,411, 1,500, 16,540, 77, 8 SK - -

, - SK, - SE SV EROI SROI BROI - SK SE BROI - SK SE BROI, 2015 156% - SK SE, 1.6~4.8 - SE, EV SV S/H -

3. - SK SE Tool - Industry SV Indicator - SV - SE Social Mission - Social Impact - - Tool

Ⅶ. Acumen Fund (SK, 2012) 1. Acumen Fund 2. BACO: The Best Available Charitable Option -, - BACO ratio - Net cost : (financial leverage) - BACO,, Acumen Fund Net cost - Social impact : (enterprise efficiency) (product efficacy) BACO ratio - BACO Acumen Fund Acumen Fund

3. BACO ratio 3 BACO ratio - 1 : - 2 : - 3 : BACO ratio, Acumen Fund cost-effective

Ⅷ. (, 2013) 1. - / - - case study 2. - [ 1]: - 2010 J.P Morgan Rockefeller 3 2% - 2013 (J.P Morgan Rockefeller ) 52% 3 (IRIS) - - - [ 2]: - -

- (, - SROI, BACO ) (GIIRS, Pulse, Groupe SOS Rating ) - [ 3]: - -, IRIS 3 - Pilot Study 1-5-10 Working Group - [ 4]: - -,, - - - (Framework), 22

-,, () - - 10

: - () - () - ( ), 3 ( ) : - - () - ()., - () : -

-,,,

- ( )

제 3 장 연구수행방법론

44 3 - (Framework) - (Framework) - 22 Ⅰ. Framework, - ( ) IRIS(www.giin.org), Groupe SOS,

,,, -. ( ) - ( ) - ( ) - ( ),,,

46,, - ( ) - ( ) - ( ) - ( ) - ( ) - ( )

Ⅱ. Framework Framework, 1., (: ) 2.

48 (,,, ) -

Ⅲ. 1. () - (, ) - ( ) 2. [] - (20 ), (14 ) - [] - (33 ) (38 ) 2 [] - (52 ) (12 )

50 - [] - (34 ) (12 ) [] - (221, 35%) 59, 18 [,, ] - 3 (1) ( ) ( ), ( 2-3 ) 3. 18 ( 11) < > (:

) (:,,, (2011) 10 ( )

제 4 장 인터뷰수행결과

4 Ⅰ. 1. -,,, () -, - 1125,, (), 1, -,,, 11 ( 12) - 13

2. 9 1 11 20 3~4 ( 14) - - Follow-up

3. ( ), - () - () - ( ), 3 ( ) ( ) - () - () (, ) - () ( ) - - ( ) -,

- (, ) - (Construct Validity) - (:, ) (: ) - (, ) - ( ) - - - Working Group -, - - ERP ( )

Ⅱ. (1) - (), ( ) 1. 2.,.,, -, -,,

:,, - :, - - : Needs - : -,, - 3.,. (1), 5. 1 11() 2. 9,. ( ),.,.,., 1

. 2,. ( ),,,,...,... 2... 10 3,.,. 20......

... 4~5., ( 1 ) 2 (1 5 ).. ( ).. (, ) ( ) ( )..... 13 50:50.. ( 10~15 )... /. /.

,.. 2 + 1, 1:1..,,...,...,..,,,. (). 5 ( ).

Ⅲ. (2) - ( ), ( ) 1. 2. -,,, -,,

- - 29, 380,,, - ( ) - -,.,, 3. 1999. /,,, 2005 ( ) 2006. 2007 78,.,

. 2012 29..,, HACCP( ).,,,. 2008,,,. 3

.,,.. /.. SK, (,, ) / ( 2000~4000 ),,,.. 3,. 2006~2007 /. ( ).., (HACCP) (1 4).. 3. 1.,,,,. 13 6., (:

). 2006~2007,.,.,,. //...,, /. /,.,,.,,. 6 HACCP. HACCP.,,,,, /, 100.,,. ( ),

...., ( ). ////., (,, )..

,.,.

( + ). 2013,. 2012.,, 2012.. -,. -,. -,.... /,.,..

., HACCP.

Ⅳ. (3) - (), (YMCA YMCA) 1. 2.,, - : 20~ 1,2 - : 8~8(~), - : 2,500~5,000(1 ),, : - : 4~5 - : 20~3(~) - :,,,,,,,,, - :,,,,,

: - : 1,2 - : 12~7(~) / 10~7 ( ~) - :,,,,,, - :,,,,,, 3. 2006 YMCA YMCA, SK., YMCA 8,( 3, 2 ) YMCA,. (). YMCA,. (),...

, ( ).(),... YMCA........ YMCA., YMCA 2 (, ).. 4. 4.....

... YMCA. ().. () 120~130 (9~18,, ), 20%. YMCA 120~130... YMCA + + +.. 2. 1~20. YMCA... 1:1

...... 6 4. 1:1. 2:1 3:1, 10%...., ( ;, )...( ),... YMCA (7) (20;, ). 3~4.,. YMCA.

., ~. 3.. ( )..,..,.

.,..,.

Ⅴ. (4) - ( ), () 1. 2. 1994,,,,,,,,,,,,,

- (,, / /// /) - (/ / / ) - (/ / ) - 7-20 - -,,, -, - 0% - 3. -, (60%),,.. - (/Site). ( ).,.

- 99, 08. 94,. 99 2~3.,,. -... (/ ; 60 ).,. / -, /. -..... - / 1~2.

3~6.. - SLA()...,,.. / -. /... () - 370, (,,, :KTX). (,,, ), 150~160, 170~180. 130~140. -. 10~20 ( 1~2),..

-. 7~10% 1~2% 0%. - 100 4%.. 1~2. -. -,.,.

-.. 65 ( )... -.. 50%(70%),..

Ⅵ. (5) - (), () 1. 2.,, 2007 2010 1 - - - - Healing Music ( ) - :

- - - 30% - 3. () - (30%),. ( ) -.,. 2, 18 1. 2013 100, 30.. -.. - MOU,.

- ( ).... 1 40 2 20.. -. 1,.. -. 50 35. ( ).,. 5. 6, 90%. 5. 19 1, 3. 1. - 30%. /,..

2. - 8. 2013 9 MOU.,,,, 4,,,.,. 30...,

.. 3. - 12.,,.. -.. -.,,. -, 2... / -.,. - 3~5... 2 5.

- 7 4~5, 2~3. - count. (2500).. (4000) 400 2,000. - 15.

., 10%.. -. -.. -., 1:2. - 1.

Ⅶ. (6) - (), () 1. 2. ()( ),,,, -,,, -,,,,

- - 25, 3. - ( ),. -., (: ). -. 6(). & ( ).,... pool.,.,..

.. //.., ( ) /...,.,.. ().. POOL. (:, )..... /.. 1 100%, 2 3.

.. /.., /.. (--). 9(1 ), 15.,. ()...,,.,..,,.

-,.,. - /.. -. -,. ( ) -.. -. -,.

-. -. 2 (1, 1) 20,. -. -,. -. -..

Ⅷ. (7) - ( ), (H&S) 1. 2.,,,,,, 2009 100%,, 146-4 () 1

, 30-9, 2, 130 3. H&S., (B2B).,. H()&S() () ( 3). 2010 (), 2011. 5( ), 11. 7~8,. (60 ),,, 4., H&S., 2 1

.,. / 7~80%.,. (),. 4,000, 2015 1. ( ), (). /,.,

., /., Selling Point. H&S.,., 7 14.., (, ). 2~3.,., -/----.,, (, ).,. 2010 (2).., 5 5.

,. (), 120( 5 ).,., (, 5, )..., 1 (),.. (),. (). ()..,.,.. (B2C), OEM. 2015 5, ().

/ 30~40%, 50%. H&S 1.,. 30%, 2. 4~500, 7~1000. 1.,.,..,, 4.,.. *( )., (1) (1).

Ⅸ. (8) - ( ), () 1. 2. -,. - -,.

- -,, -, - HACCP - HACCP HACCP - HACCP Hazard Analysis Critical Control Point '' '' -....,.. 3.,,,. (+) 70%. 1997,.

, (,, ).,, (). 99%., (),.,..,, ().,,,

. ()..,,,., 1+1. ( ).,,,.,.,,,. 3d,. 2004, ( ),. (2~3 ),,,. 1~2., (,,, ).

Ⅹ. (9) - (, ), () 1. 2. 2006 1 -,,,,, -

- : - -,, - : - - 2006. 10 < (Job)!> - 2010. 3 () < (Job)!> - < (Job)!>, - : 3. 13,,...,...,.

/.,., 2006-2008 -2011-2011., /. 5 ( 3~4, ) 8~10. 6,.,,.,,., ( -),. 2012 8 2013 11 8. ( ). 2 4, 3, 1. ().

,. (),. 2,., 18 11( 3 ), 1. : 6( 4), : 4( 3) + 2( ), : 4( 3) + 1, 1, 2014 2~3. 3,,.,. ( ).,.,., /., 40 35.,, /,.,.,...

. 3~4.,,...,,,., (2011 3) 22. 1/n, (,, )., () (,,, ).. (,, ).,,., ( ).,,.,..

Ⅺ. (10) - ( ), () 1. 2. () -, -, - - - -,,,,,,,

,,, - -,,,, - :,,,,, 3.,.,.. (, NH,, ),.,,.,..,.

2013 14,.. 4, 9. (),..,. 1~2 4.,.,.,.,.. 4, 4., 90% ( 10%)... ().,

...,.,,.,,,,. 2.,., (),. - 1) (). - 2).. 3 1.,. 1 10,.., 2010 2011 1/3...,

..,., 5.,.

Ⅻ. (11) - (), () 1. 2. (), 2006 WA, IT 2010 12 SI MOU,,

, 3. - ( ),. (), 5-6. ( ) 2,,.,. 2006, 1 1000. 90 (). 3~4 SI,, KT, SK C&C SI. ( ). WA(Web accessibility). 2007 WA. WA. 2009

. 2, 2011. 2012, 2013 60%, 25. 2013,. 2013, WA. /. 3 1,. 40-50% 20.,,.

.,,, (standard).,,. (software). (software ),. 2,. 1( ). 3.,,,., 23 13 50%..

., 200, 4000-5000.,. 20,.,,,,., ( )...,,. 3 (, )..,. 150. 2, 5000, 1. 2009,. ( 700 ), 500., 10% 1

. :,., ->.,,?..,. (affirmative action). 2 App().. 20 (niche ). () ///,. atm,.,,, IT.., (),.

제 5 장 사회가치측정지표최종안

5 Ⅰ. 2014 (165) 11 (448) (93) 706-2013 7 (165), 18 (823), (150) 1,303 ( 26)

Ⅱ. 2014 (165) (448), (93) 1

제 6 장 사회적가치평가툴의개발

6 Ⅰ. 1. Pre-test - Pre-test - Pre-test 2., [ ] - (Indicators) (Variables) - [ ]

- - pre-test [ ] - 13, 85, 165( ) ( 27) -, [ ],,, - 27,, -, -,,,,,

- - Pre-test 32 3.,,, 27-32 () / /

() /, /

( ),,

4. 2 ( 1 ) ( 2 ) ( 30)

5. 3 ( 1 ) ( 3 ) ( 31)

제 7 장 Pre-test 수행

7 Pre-test I. Pre-test 1. Pre-test 50 pre-test 2. Pre-test Pre-test - 100 - Pre-test, 50 Pre-test - 50 Pre-test 33 Pre-test - 2013 2014-14 10.1-11.15 (1.5) - 5~6

Ⅱ. Pre-test Pre-test 50 1. (),, -, - (), - 2010,, - -,, () - /, /,,, /,, - -

2. 3. - - - - :

- : 4, - :, - :, - :,, - -,, 4. -,,, -,,,,

-,,,, 5. 2008 12 2010 10 6.., ' ',,, 7. ().,

-,, - -, / - - - - ( ), 8.,.,

, -, -,, :,, - :, - - : Needs - : -,, - 9. -Talk, Play, Learn 2010 7 //,,,

10. -,,, -,, - - 29, 380,,, - ( ) - -,.,,

11. 2006 YWCA 2008 7 2011 7 (), 2011 9, () - - - - - -,,, 12.

,,,, HACCP,, 13. & I'm Asia 1 () I'm Asia, (, ) 5, 10 &, NGO,,

14. 2007 - - / -,. - - () -, -,, 15.

, 16. YMCA YMCA,, - : 20~ 1,2 - : 8~8(~), - : 2,500~5,000(1 ),, : - : 4~5 - : 20~3(~) - :,,,,,,,,, - :,,,,, : - : 1,2 - : 12~7(~) / 10~7 (

~) - :,,,,,, - :,,,,,, 17.,,,,,,,,, (),

18. 2000, 2008 7, - :.,, - :, - : - :. - - :,,,, ㅇ - 8 - :,,, - :

,, - : - : 19. 6 (,,,,, ) - - -, - - (, ),,, 20.

-, 21. 2013 22. 1994,,,,,,,,,,,

,, - (,, / /// /) - (/ / / ) - (/ / ) - 7-20 - -,,, -, - 0% - 23. ( ),

2009 10 2012 4,,, (), -, :, - : () - : (), 24. + 2007 2010, 2011 -, : - :

- : -, : -, : -,,, -,, -, - 25. 1999,,,,, (5 18 ),,, ( ), (5 18 ) 22, 96 2010 19,,,,,,

,,,, 26. () 21 -, -, -, - - - - / - / / / - - 27.,, 2007

2010 1 - - - - Healing Music ( ) - : - - - 30% - 28.,,

-,, - 29.,,, - 30. ()( ),,,,

-,,, -,,,, - - 25, 31. < >,,, - : - :, - :,,,, - : R&D,, 32. :,,.

- - - - - Inbound Domestic Tour 100 - Outbound Tour 28 50 - Education Tour, - Tailor Made Tour,,, 33. 10, 6 10, 100, 90%, 10% 10 -,,,,, -,,,,, - :,,

, - :,, - :,, - :,, - :, / 34. '' (), 3,,, - 1, 35. H&S,,,,,, 2009

100%,, 146-4 () 1, 30-9, 2, 130 36. 2009,,,,,

37., 38.,,,,,,, -

- - () - -,,, 1-39., - - (2014) & (, HACCP,,, ) - (2015) (, ) - (2016) (,

,, ) 40. - HACCP -, cook (), ( ) 1 (,, )

41...., 2 - (),,,,,,,,, ( ),, ( ), ( ), ( ) -,,, &,,, (12~1), (2), (5) 42. '=' 74 154 72 151 '' 1

50 ' ' '' 43. 2006 1 -,,,,, - - : - -,, - : - - 2006. 10 < (Job)!>

- 2010. 3 () < (Job)!> - < (Job)!>, - : 44. - :,,,,, - :,,, - :,,,, - :,,, - :,,, - :,,,, - :,, - :,,, - C'I&B'I&H'I,,,,,,,,,,,,, 45.,,

2013 2003 (2010) 46. () -, -, - - - -,,,,,,,,,,

- -,,,, - :,,,,, 47. 2008 (),, 48.,,,,,,,,, QR, NFC

-,,, () - IT, (), 49. EAP 2005 EAP EAP(),,, EAP -,,,, - EAP -,, -,,, -,,,,,, 50.

(), 2006 WA, IT 2010 12 SI MOU,,,

Ⅲ. Pre-test 1. (Pre-test 50 ) 50 Pre-test, Pre-test, 50 - - 2. 50 Pre-test, Pre-test -,,, - pre-test 50 34, 2 34 ( 1) (2 3) - -

50 Pre-test 2

제 8 장 사회적가치측정지표활용방안및정책로드맵도출

8 (1) (2) (3) Ⅰ. 1.

(1) SROI (2) ( ), ( ). 2. 35 36,,

3. (: IRIS), - 37, IRIS(Impact Reporting & Investing Standards) -,, -

Ⅱ., ( 22) 38

Ⅲ. 1. 1 - - -, 2013 2014-2013-14 - - 2013-14. - 2. - 5. -

- - - - -, -,. - 3. - -,

- SROI, BACO GIIRS, PULSE -, 2014 Pre-test - - -. 4. 2015 - - 30 - -

- - - 2013-14 - 1-5. 2015-16 -,, -

-, 1-2015. - -. 2014 2014 2015-2015 6. - - - - -

- - 7. 3-2015 10-2015 - 2015-2015 50% - 2016

< >,,, 2012,,, 2012,,, 2011,, 2012,,, 2011, 3,,, 2011,, 2012, SK, 2013 SK, Acumen Fund, 2012 Carlo Borzaga, J. Defourny, Ⅰ( ), 2,, 2009 Ken Peattie, Adrian Morley, ( ), 2,, 2010 A. Dunn, C. A. Riley, Supporting the Not-for-Profit Sector: The Government's Review of Charitable and Social Enterprise, 2004 A. Neuhoff and R. Searle, Can non-profits get more bang for the buck?http://www.ssireview.org/images/articles/2008sp_feature_neuhoff_ searle.pdf Breen. The Responsibility Revolution: How the Next Generations of Businesses will Win, 2010 Bugg-Levine and Emerson, Impact Investing, 2011 B Corp website: http://www.bcorporation.net/about(bcorps) and http://www.bcorporation.net/publicpolicy(benefitcorporations) Clark and Emerson, A new world of metrics: trends in monitoring social return, in Investing for impact: How social entrepreneurship is redefining the meaning of return, 2012 George Foster, John Meehan, Management for Social Enterprise, SagePubns, 2008 GIIRS, Progress Report. 2011 Heinen, Summary of Low Profit Limited Liability Corporation (L3C)

Legislation, Impact Assets, Impact Assets, 2011 ImpactAssets Issue Brief #2, Risk, Return and Impact: Understanding Diversification and Performance Within an Impact Investing Portfolio, 2011 Janelle A. Kerlin, Social Enterprise: A Global Comparison, TuftsUniversity, 2009 Jeffrey Hollender and Bill, Preface and Chapter 1 (The Responsibility Revolution takes off) JP Morgan Global Research, Impact Investments: An Emerging Asset Class, 2010 Leamon, Community Development Venture Capital Alliance, Case: SJF Ventures & Ryla Teleservices, 2004 Nyssens Marthe, Adam Sophie, Johnson Toby, Social Enterprise, ROUTLEDGE, 2007 Nelarine Cornelius, Mathew Todres, Shaheena Janjuha-Jivraj, Adrian Woods, James Wallace, Corporate Social Responsibility and the Social Enterprise, 2008 Penguin Group, Introduction and Chapters 1-4 in Tom Szaky. Revolution in a Bottle, 2009 Sarah-Anne Munoz, Towards a geographical research agenda for social enterprise, 2010 SJF Ventures, Positive Impact Report, 2011. Social Enterprise Alliance, Succeeding at Social Enterprise, Taylor&Francis, 2012 Social Capital Fund, LP, Summary of Terms and Conditions, Good Capital- Better World Books Term Sheet, 2007 University of MichiganRossSchoolofBusiness, Acumen Fund: Valuing a Social Venture, 2009