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Pay for Success
Feds Put $76 Million in Play to Support ‘Pay-for-Success’ Projects
The U.S. Department of the Treasury has made $76 million available for projects that give state or local governments a free trial of promising programs in key social services areas, including child welfare and juvenile justice.
Social Impact Leader Tracy Palandjian on the State of Pay-For-Success
In August of 2012, former New York Mayor Michael Bloomberg announced a project through which his foundation and Goldman Sachs would pay for a project aimed at lowering the recidivism of adolescent males incarcerated at Rikers Island, New York’s massive and potentially doomed prison-plex.
Connecticut Substance Abuse/Child Welfare Project: State Will Pay for Success, But Hasn’t Defined It
Connecticut has announced it is underway with a pay-for-success venture that will reward private funders if they are successful in using a substance abuse treatment model to curb re-referrals to, and out-of-home placements made by, child protective services.
Pay for Success Watch: NCCD, San Diego Foundation Announce Juvenile Reentry Venture
The National Council on Crime and Delinquency (NCCD) already has an iron in the pay-for-success (PFS) fire in San Diego where it is working with The Children’s Initiative on a plan to provide county-wide alternatives to detention.
Lester: Evidence-Based Timeline of Families First Act Might Be Tough to Fulfill
Patrick Lester, who for years headed the public policy shop for the Alliance for Strong Families and Communities, now leads the Social Innovation Research Center. He’s pretty much a one-man show there as he builds the organization, and he has primarily focused the center’s attention on pay-for-success and social impact bonds.
Pay for Success Watch: Solving Government Uncertainty on Structure
The potential for Pay-for-Success (PFS) models in the human services field has captured the attention of the federal government, foundations and social impact investors. But two years after America’s pioneer PFS projects began, there are fewer than 10 ventures being implemented.
Pay-For-Success Watch: Q&A With Molly Baldwin of Roca, Inc.
There are dozens of potential pay-for-success (PFS) ventures that are being gauged for feasibility, or have moved into a planning stage. But few of these projects, in which funders assume risk and taxpayers only pay if certain benchmarks are met, have actually gotten off the ground.
Nonprofit Finance Fund Announces PFS Grantees
The Nonprofit Finance Fund has announced five sub-grantees that will receive technical assistance to develop Pay for Success (PFS) projects nationwide.
Pay for Success Watch: Univ. of Utah Looks to Ramp Up Western PFS
The University of Utah’s Policy Innovation Lab in the James Lee Sorenson Global Impact Investing Center has announced the selection of six government agencies to participate in Pay for Success initiatives in Colorado, Utah, Idaho, Montana and Nevada.
PFS Watch: Key Grantees Named for Federal Pay-for-Success Venture
The Corporation for National and Community Service (CNCS) has released a list of grantees that will work on pay-for-success projects with the lead entities selected by the agency last year. Pay-for-success (PFS) projects shift the burden of social investment off the government and onto private investors.