The Corporation for National and Community Service has opened their 2016 Social Innovation Fund (SIF) Pay for Success (PFS) Grants Competition.
The Pay for Success (PFS) Grants Competition will provide up to $10.6 million in grants to organizations seeking to advance and evaluate emerging models that align payment for social services with verified social outcomes.
Consistent with the broader mission of the SIF, the PFS Competition intends to encourage the implementation of PFS projects in order to enhance the reach and impact of innovative community-based solutions in low-income communities.
Pay for Success offers innovative ways of partnering with philanthropic and private sector investors to create incentives for service providers to deliver better outcomes at lower cost—producing the highest return on taxpayer investments. The concept is simple: pay providers after they have demonstrated success, not based on the promise of success. Pay for Success financing is a mechanism for increasing investments in effective social interventions by changing the way government allocates and invests its resources – focusing on results and outcomes. This grant competition seeks to identify situations in which the Pay for Success model will be most effective. Overall, this will aid in advancing the emerging models that align payment for social services with verified social outcomes.
As part of the 2016 SIF PFS Competition, each grantee will be awarded between $350,000 and $1,800,000 each year over the three year project period. Every SIF grant dollar must be matched by the grantee with non federal dollars and services.