6 October 2009
Chance UK appeared in The Times this week, discussing the economic impact of its work via the Pro Bono Economics scheme.
Founded by the chief executive of a leading charity and a Bank of England economist, Pro Bono Economics seconds government economists to charities to evaluate the economic impact of their work, and has attracted support from the highest echelons of the private and public sectors. Chance UK is one of six pilot projects to benefit from the initiative.
Gracia McGrath OBE, Chief Executive of Chance UK, said: "We know that our work makes a difference in human terms. But stories are not always enough, so we need to be able to measure our impact in pound signs."
Sir Gus O'Donnell, head of the Civil Service and a patron of the charity, said: "A lot of economists in the GES and elsewhere are involved in helping to solve real-world problems and in studies trying to make projects work. This is a small step for us. Charities are full of passion but there are instances when data collection might make them better informed."
Chance UK also fully supports the "Backing the Future" report of its partner Action for Children, which shows that every £1 spent annually on early intervention services for children like that provided by Chance UK generates savings for the tax payer of between £7.60 and £9.20.
Chance UK provides volunteer mentors for primary-aged children with behavioural difficulties at risk of developing anti-social and criminal behaviour across the UK.
For more information, contact Gracia McGrath OBE, CEO of Chance UK, on 020 7281 5858 ext 209 (office) / 07872 665 267 (mobile) or ceo@chanceuk.com.