Member Article

Social impact housing group delivers £13.5million value

The First Ark Group, which provides social housing, regeneration and facilities management services, has published its annual accounts.

The organisation has generated more than £13.5m of social value, helping to transform businesses and develop communities throughout the region.

The First Ark Group’s social accounts summarise and measure, in terms of finance, welfare and personal benefits, the effect that each activity or investment has generated in the last year.

Using tools such as HACT’s value calculator, an industry method to measure social value, the accounts show that in the past year, the Group has supported and mentored 14 organisations and has been instrumental in the creation of two new businesses, both of which now occupy local retail units.

The Group has also upgraded and improved the energy efficiency of over 750 homes enabling residents to save money on their energy bills.

Group CEO Bob Taylor said: “Taking a long-term view and approach to our social investment activity means we carefully consider how, and where, the money available today will be spent to allow it to return tomorrow; leaving us in a better position to deliver a bigger impact in the future.

“Our innovative and pioneering attitude means we have to challenge and evaluate every decision we make, one of the ways we do this is with the creation of our annual social accounts.

“The work we have undertaken this year has been critically evaluated in the social accounts, allowing us to appreciate the real impact that has been delivered, both locally and nationally, and to truly understand how this correlates against what we initially set out to do”.

The Group has also announced plans which prioritise growth and diversification and help to increase its social impact activity.

First Ark’s social investment charity, One Ark, aims to increase its investments in the latter part of 2015 and on into 2016 by a further 30 per cent, helping to establish new investment partnerships and collaborations which deliver real social impact and generate growth in the communities in which it operates.

Bob Taylor added: “Looking ahead, we are eager to build on the success of this year and will continue to work with inspiring partners to generate innovative collaborations and alliances which create success to change people’s lives.”

During the reported period, an economic impact of £2.03 for every £1 spent by the Group is recorded. Standout results drawn from data include the delivery of 433 weeks of staff training to aid personal and professional development, the creation of 33 new jobs and recruitment of 15 apprentices.

This was posted in Bdaily's Members' News section by Simon Malia .