Measuring Social Value of a Community Water CSR Program through SROI: A Functionalist Case Study

Rindah Febriana Suryawati (Department of Accounting, Faculty of Economic and Business, Universitas Airlangga)
Sri Iswati (Department of Accounting, Faculty of Economic and Business, Universitas Airlangga)
Nonon Saribanon (Departemen Biologi, Fakultas Biologi dan Pertanian, Universitas Nasional)

SRIWIJAYA INTERNATIONAL JOURNAL OF DYNAMIC ECONOMICS AND BUSINESS
SIJDEB, Vol. 10, No. 3, September 2026

This study measures the social value created by HIPAM, a community water program funded through the corporate social responsibility (CSR) of PT Pertamina EP and managed by a village-owned enterprise (BUMDes) in Tuban, Indonesia, and examines how the program strengthens local governance. A functionalist, convergent mixed-methods case study combined a Social Return on Investment (SROI) analysis of 2017–2021 financial records and household data with a thematic analysis of interviews and focus groups. An investment of IDR 396.48 million generated a present value of IDR 691.99 million in household water savings and BUMDes income, yielding an SROI ratio of 1.75:1 that remains above 1:1 unless deadweight and attribution jointly exceed 43%. Qualitative evidence shows that formal bookkeeping, participatory tariff setting, and social trust sustain these monetized outcomes. The study contributes to sustainability accounting by making SROI’s paradigmatic assumptions explicit and linking monetized social value to institutional capacity.