Measuring Social Impact of The Minhati Scholarship Program: An SROI-Based Evaluation of ZISWAF Fund Distribution at LAZISWAF UNIDA Gontor

Abstract

LAZISWAF UNIDA Gontor is a progressive ZISWAF institution that supports education through its flagship program, Minhati, which provides scholarships for underprivileged students. Despite continuous fund distribution, its broader impact has not been comprehensively measured. This study evaluates the program’s effectiveness using the Social Return on Investment (SROI) framework to quantify the social, economic, and environmental value generated. A mixed-methods design was employed, combining qualitative and quantitative techniques. Primary data were collected through in-depth interviews with 80% beneficiaries of the 2023–2024 recipients and six key stakeholders comprised of program managers, donors, family members, community representatives, academic affairs staff, and LAZISWAF management. Secondary data were drawn from the institution’s 2023–2024 annual financial report and relevant literature. The SROI analysis followed six structured stages, integrating stakeholder input with quantitative impact calculations, supported by Minitab statistical software. Results indicate an SROI ratio of 1.67, meaning every Rp 1 invested yields Rp 1.67 in social value. The program’s most significant impact lies in improved academic performance with recipients’ GPA rising from 3.12 to 3.65. Additional benefits include reduced family financial burdens, increased participation in community service, and strengthened religious engagement. This outcome demonstrates that the Minhati program significantly enhances students' welfare, benefits their families, and contributes to social and religious affairs.