The Impact Genome Project® and MassMutual Foundation Announce New Research Measuring Social Capital - particularly critical in post-pandemic America
New research from The Impact Genome Project® and the MassMutual Foundation finds marginalized populations face barriers to higher paying jobs, healthcare, and financial stability. The research reveals a higher percentage of low-income Americans and marginalized groups have limited or no personal networks to help them benefit from the nation's post-COVID economic recovery.
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Social Capital, an individual's connectedness to others, is known to have a direct relationship to economic mobility. Differences in the size of trusted networks are especially acute by income, race, ethnicity, and education. White, college educated, and wealthier adults are more likely to have more people they can rely on for personal and professional support.
So, what can we do?
"This research quantifies what we've long known to be true. It's not what you know, it's who you know," says Jason Saul, CEO of the Impact Genome Project®. "With precision data we can design interventions that drive economic mobility and financial stability for those people with limited Social Capital. Using these insights, we will work with a coalition of leading corporate philanthropies and other funders to invest in solutions that close the gap."
The MassMutual Foundation is one of those leaders, partnering ith Impact Genome® over the last several years to fund and support data-driven solutions for communities. Most recently, this includes identifying the need to better understand what it takes to build Social Capital and funding the Social Capital Genome.
"The creation of the Social Capital Genome is a first and a potential game-changer. The concept of Social Capital is integral to the work of the MassMutual Foundation and the Live Mutual Project; it constitutes the building of critical connections that can lead to better overall outcomes for members of the community, notably in the areas of long-term financial health and general well-being. The Genome will help funders, nonprofits, residents, and other stakeholders chart strategies better suited to fostering this very vital community asset." - Dennis Duquette, President of the MassMutual Foundation
The findings of this research build off of and validate an earlier study from nearly four years ago that found nearly seven in ten said community involvement is important to their overall well-being and six in ten that put a premium on community involvement said they are confident in their financial future.
This Social Capital Genome announcement is the next phase of the Sentinel Outcomes Initiative, a multi-year effort to track and quantify the unmet urgent needs of all Americans, spanning Financial Health, Social Capital, Food Security, Housing, Employment, and Education. The Sentinel Outcomes Initiative is supported by leading corporate and private philanthropies, in partnership with NORC at the University of Chicago and the Associated Press (AP).
Sentinel Outcomes Initiative Briefings
Impact Genome's Sentinel Outcomes Initiative will feature a new topic every two months throughout 2021.
Jason Saul, CEO of The Impact Genome Project® and Dennis Duquette, President of the MassMutual Foundation, will convene for a live briefing, State of Impact: Social Capital, on Tuesday, June 29 at 3 p.m. ET. They will discuss the research findings as well as opportunities to build and maintain Social Capital to foster upward social and economic mobility for the most historically marginalized and oppressed. Impact Genome announced research on The Financial Health Genome in May. Additional research on Food Security, Housing, Employment, and Education are still to come later this year.
To learn more about this research and register for Impact Genome briefings click here.
Read more about the Social Capital Genome in our White Paper: Cracking the Code on Social Capital, What Works & Why
About The Impact Genome Project®
The Impact Genome Project® uses precision data to solve the world's most intractable social problems, including financial stability, employment, food security, housing, social capital and education. The Genome's power is built on two key innovations: data standardization and genomic analysis. Standardizing impact data makes it possible to synthesize knowledge across nonprofits and research studies, while genomic analysis enables more precise, fine-grained diagnostics of true beneficiary needs so that funders can invest in the most effective interventions.
About the MassMutual Foundation
The MassMutual Foundation, Inc. is a dedicated corporate foundation established by Massachusetts Mutual Life Insurance Company (MassMutual). The MassMutual Foundation activates connections and untapped opportunities within communities, so that all families can build their financial capability and thrive. In support of this mission, the Foundation develops partnerships and provides grants in support of our signature programs. The Foundation also supports anchor institutions in the communities where MassMutual operates. To learn more, visit the MassMutual Foundation.