How much does internal involvements at your company impact your performance review? Does anyone actually care if i lead an employee resource group

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I don't think it makes a huge impact. But it could matter in some ways. If, for instance, you've been leading an employee resource group, that would indicate that you were motivated and perhaps possessed some leadership qualities. Leading the group itself would not get you a promotion, but it might put you in the basket of people who might seem more likely for a promotion.

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Generally speaking, I view internal involvement as a non promotable task. Is internal involvement going to be a dealbreaker for your promotion, no. Can it be viewed as the cherry on top for justifying a promotion, maybe.

That’s not to say that all internal involvement should be avoided.

I try to be strategic about the types of internal involvement that I sign up for. Organizing the annual Thanksgiving potluck and leading the development of an internal technical training program for new hires are two completely different types of internal involvement lol 😅

As sad as it is to say, it means more if it's for a leader with influence on your position / review. i.e. if it's a group someone above you and is relevant cares about

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