Impact Report for the academic year 2021-2022
With the aim of measuring the social impact of the activity performed by the Reina Sofía School of Music, from the 2021-2022 academic year, the School has started measuring different indicators which enable the assessment of our work and the degree of fulfilment of our objectives and that, in addition, may be helpful in decision-making and orientation of our activities.
The Impact Report is the result of the implementation of a methodology developed in collaboration with Management Solutions and in accordance with the principles of the Theory of Change and the materiality analysis undertaken with its main stakeholders to ensure maximum alignment of its strategy and objectives so that the School may contribute, to the extent of its possibilities, to the transformation of the current reality of the musical field.
Qualitative and quantitative metrics have been identified adapted to the characteristics of each one of the objectives to be measured. These impact objectives are grouped into three blocks: training musicians, bringing music closer to society, and developing a sustainable model. Finally, both the economic quantification of the School’s social impact and a rate of social return on investment (SROI) based on the Impact-Weighed Accounts Initiative methodology (IWAI), promoted by Harvard University.
This report has been produced for the 2021-2022 academic year and has provided the methodological basis to be applied in successive measurements.