Social Return on Investment Evaluation of the Mathupayas Faith Project: A Case Study of Cultivating Community Consciousnessfor Cultural Enhancement

Abstract

This study aims to (1) analyze the social impact pathway and (2) evaluate the social return on investment (SROI). The research adopts an action research approach within a mixed-methods design. Key informants were purposively selected, totaling 30 participants, including local wisdom holders, community leaders, and academics. Data were collected through in-depth interviews and document analysis. The analysis employed the Social Impact Assessment (SIA) framework to construct the logical chain from inputs, activities, outputs, outcomes, to impacts. In addition, the Social Return on Investment (SROI) framework was applied to monetize social outcomes into financial values. Financial proxies were derived from market prices, replacement costs, and data from public agencies. The values were adjusted using standard assumptions, including deadweight, attribution, displacement, drop-off, and a discount rate of approximately 3%. The findings reveal that the Mathupayas Faith Project, with a total investment of 130,000 baht, generated a present value of social benefits amounting to 400,627 baht, resulting in a net present value (NPV) of 270,627 baht. The social return on investment (SROI) ratio was 3.08, and the internal rate of return (IRR) was 70%, indicating a high level of cost-effectiveness. This implies that every 1 baht invested generated significantly greater social value returned to the community.