Case Study: ICA Fund
- Partner
- ICA Fund
- Open To Additional Investors
- No
ICA Fund, an innovative venture investor, accelerator, and CDFI committed to closing racial and gender wealth gaps, engaged Broadstreet to refine its impact management strategy and strengthen its data management systems. ICA aimed to align its impact management (IM) approach with leading industry practices and build the capacity of its staff responsible for impact measurement and reporting.
Broadstreet provided in-depth conceptual and technical training to ICA staff, covering key standards (e.g., OPIM, UN SDG Impact), frameworks (IMP five dimensions), tools (impact ratings), technology (databases), and processes used by Broadstreet and other impact management experts. The team developed an IM plan to operationalize ICA’s Theory of Change, sequencing and mapping the components of an IM system to integrate impact data insights into decision-making and accelerate progress toward ICA’s five-year plan.
"Working with the Broadstreet team has been great. What really stood out to me was the accessibility of multiple team members at different stages of the project. The ability to collaborate with various team members across different phases and adapt our work in real time to address new ideas and issues was crucial for us."
Equipped with knowledge from the trainings and close collaboration in phase I, ICA partnered with Broadstreet in operationalizing the IM plan in phase II of the project. Through this engagement, Broadstreet helped ICA build and implement tools to automate data consolidation, cleaning, and management. This included creating an Extract, Transform, Load (ETL) process to centralize data and connect it to Tableau, significantly reducing manual reporting efforts. Additionally, Broadstreet assisted ICA in refining tools to efficiently collect qualitative and quantitative data while ensuring compliance with investor and CDFI Fund reporting requirements.
"Working with impact measurement and management practitioners who apply these practices within their own organization was invaluable and made all the difference in our project.”