Economic value of the McLeod for Tomorrow leadership program, 2017
Key findings for communities
Total benefits: Generated $197,805 of economic benefit in 2017. Programming cost $29,550. Thus, the net benefit of 2017 programming was $168,255.
Private benefits: Participation created a net of $33,240 in private benefit for 2017 participants. Private benefits are those that accrue primarily for program participants.
Public benefits: Created a net of $134,615 in public value for 2017 participants. Public benefits are those that accrue primarily for the community.
Cumulative benefits: Generated $555,400 of value between 2008 and 2018. This represents a 6.4 return over the program’s total investment. Public value constituted 76 percent of the program’s overall value.
Beyond economic value: In 2017, those involved with McLeod for Tomorrow invested 1,558 hours of volunteer time to implement the program and events. On average, each respondent reported creating 10.5 new connections with other individuals in the county and 8.8 new connections with individuals from their own community.
About this report
McLeod for Tomorrow’s mission is “bridging communication, education, and networking among individuals living and working in McLeod County.” Coordinated by a local board of directors, McLeod for Tomorrow’s activities include the McLeod for Tomorrow leadership program, Winterfest, the Glow Run, a student leadership program, and a student scholarship. The program launched in 2007.
Leaders in McLeod County feel the program creates an economic value. Thus, University of Minnesota Extension collaborated with McLeod for Tomorrow to quantify this value.
McLeod for Tomorrow contributes to the local economy in two ways. First, McLeod for Tomorrow builds the leadership capacity, skills, and knowledge of individual participants. This outcome is a private benefit. Second, McLeod for Tomorrow raises awareness of opportunities and businesses in the county. Evidence indicates increased community awareness resulting from the program translates to additional volunteer hours, increased local spending, and the development of new community events. This outcome from McLeod for Tomorrow is a public benefit.
Reviewed in 2019