Paper Title
Economic and Social Value of Cultural Engagements

Abstract
Economic valuation approaches include the classical ROI and value based approaches. Social valuation approaches include the social ROI, Social Reporting Standard, and Social Capital. Based on these theoretical concepts and empirical research, a new integrated approach is introduced. Both costs and benefits from a societal point of view (members, economy, society) are added up and juxtaposed. This way, the model shows whether the organization generates benefit for society. The integrated model is illustrated by applying it to a real case in Germany. Keywords - Economic Valuation, Social Valuation, Input, Output, Outcome, Impact, Performance Indicators