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Laurie Mook and Femida Handy

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Laurie Mook and Femida Handy

One challenge faced by nonprofit organizations is capturing and reporting the creation of social value. Social accounting is one way of doing this. The framework of social accounting can be applied to any type of organization, but is particularly relevant for organizations that prioritize their social objectives. This chapter outlines the development of social accounting, which grew out of a critique of traditional accounting, and focuses on models for nonprofit organizations. It details one particular model, the Expanded Value Added Statement (EVAS) which reports on the economic and social value added (or destroyed) by the organization and how that is distributed to multiple stakeholders. A case study is used to construct an EVAS for Literacy Volunteers of Rochester, and show how non-monetary items, for instance volunteer contributions, can be included in an accounting framework. Limitations and challenges to adopting social accounting are also addressed.

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Jack Quarter and Laurie Mook

In this chapter, Jack Quarter and Laurie Mook present a social economy framework for understanding the extraordinary variety of organizations that are guided by social objectives – non-profits, co-operatives, and social enterprises. The framework highlights the similarities and differences of social economy organizations, and how they interact with the other sectors of society. Prioritizing social objectives affects how these organizations function; it places constraints on the disposition of surplus earnings and who can benefit from the assets, which are used to create social wealth, not individual wealth. Social economy organizations also face common issues, including the need to build awareness of their role and impact, and to prepare a workforce to manage multiple bottom lines. In brief, the social economy – social economy businesses, community economic development organizations, public sector non-profits, and civil society organizations –is an integral part of a mixed economy and serves in many ways as its social infrastructure.