The Return on Investment analysis of the Raising Expectations program by Deloitte Access Economics is the winner of the 2020 Social Impact Measurement Network Australia (SIMNA) award in the ‘Effective Investment in Social Impact Measurement’ category.
This accolade recognises the positive ‘Return on Investment’ work undertaken earlier in the year by Deloitte Access Economics on the Raising Expectations program. Deloitte’s report shows the economic and social benefits to government and the wider community of investing in Raising Expectations to increase care leaver participation in higher education. The report found that for every dollar invested in the program, an estimated minimum of $1.80 is returned in economic and social benefits.
The Raising Expectations program, led by the Centre for Excellence in Child and Family Welfare (the Centre) and generously funded by the Victorian Government, works with its university partners Federation University Australia, La Trobe University, and Swinburne University of Technology to reach the many people who care for, support and work with young people living in care and who have left care. The program creates stronger, supported, and better understood post-secondary education pathways for young care leavers. Raising Expectations is actively changing a culture of low educational aspiration and expectation of young people in out-of-home care and increasing their participation in vocational and higher education.
“The economic and social analysis undertaken by Deloitte Access Economics has been invaluable in demonstrating the importance of the Raising Expectations program and the difference it can and is making to the lives of young people in care in pursuing post-secondary education. We are extremely grateful for this impressive work by Deloitte”, CEO of the Centre, Deb Tsorbaris said.
“We would also like to take this opportunity to recognise the Victorian government’s ongoing commitment to children and young people and the recent budget announcement to extend care to age 21 for all young people in care through Home Stretch and Better Futures. This policy change is profound for Victoria and a momentous achievement for children and their families, the community and aligned sectors and the broader community. It will be life changing for many young people and those who support them” Ms Tsorbaris said.
Luke Condon, Engagement Partner, Deloitte Access Economics noted its significance: “We are pleased to have had the opportunity to demonstrate the impact of Raising Expectations. We trust this will assist in the ongoing development and growth of the program which makes a tremendous contribution in assisting care leavers to access vocational and higher education.”
The Centre congratulates all the category winners and the strong field of finalists from across Australia in the 2020 national SIMNA awards.
We also acknowledge Our Community, sponsor of the Effective Investment Category, in supporting these awards. Without the incredible sponsors, these awards would not exist.
Our heartfelt thanks to SIMNA for all their work in advancing social impact measurement in Australia to set individuals and communities up for success.
Raising Expectations also acknowledges the generous 3-year philanthropic funding received from the Sidney Myer Fund in 2015.