Friends,
At the Social Innovation Fund (SIF), we're all about finding and funding what works. Today, we announced yet another strategic investment along those lines: $12 million for eight organizations (see below) to advance and evaluate emerging models that align payment for social services with verified social outcomes.
The SIF's Pay for Success grant program is designed to help cities, states, and nonprofits develop projects where governments pay service providers only when they demonstrate results. All grantees are tackling challenges within the SIF’s key focus areas of economic opportunity, healthy futures, and youth development.
We announced the awards at an event co-hosted by the Beeck Center for Social Impact and Innovation at Georgetown University, the Corporation for National and Community Service, and the U.S. National Advisory Board on Impact Investing.
The inaugural class of Pay for Success grantees represents a diverse group of highly effective organizations at the cutting edge of social financing and innovation. Within the next few months, all of the new grantees will hold open competitions to select communities in need of services -- and we're so excited to see what they come up with.
In Service,
Michael Smith, Director Social Innovation Fund Corporation for National and Community Service
The Social Innovation Fund awarded Pay for Success funding to the following grantees:
-
Corporation for Supportive
Housing
With
a grant of $750,000, the Corporation for Supportive Housing will provide
technical assistance to government and nonprofit organizations, building
their capacity to pursue PFS pilots that improve outcomes and reduce costs
for high-cost vulnerable populations, namely homeless individuals, youth
and families, and disabled residents of health care institutions who
prefer to live in the community.
-
Green & Healthy Homes
Initiative, Coalition to End Childhood Lead Poisoning
With
a grant of $1.011 million, the program will assess the feasibility of
constructing asthma-related PFS projects and will provide technical
assistance to healthcare organizations and nonprofit service providers.
This program will be based on the asthma-focused PFS project that is being
explored in Baltimore by a partnership between GHHI, the Calvert
Foundation and Johns Hopkins HealthCare and the Johns Hopkins Health
System.
-
Institute For Child
Success, Inc.
With
a grant of $782,412, ICS will provide technical assistance to help
jurisdictions use PFS financing to improve outcomes for children and
families. ICS will provide technical assistance to jurisdictions for 9 to
12 months with a goal of yielding 5 early childhood PFS deals in 5 years.
Partnering with the Nonprofit Finance Fund, ICS will also build capacity
of early childhood service providers.
-
National Council on Crime
and Delinquency
With
a grant of $863,959, NCCD will assist three state or local governments or
nonprofit organizations to build their capacity to use PFS to promote
interventions addressing positive youth development, with a focus on
juvenile justice or child welfare system-involved youth or youth at risk
of entering or crossing over into these systems, and addressing high rates
of racial disparity in these systems.
-
Nonprofit Finance Fund
The
$3.6 million grant will fund technical assistance to support the
structuring of PFS deals. The program leverages NFF's recognized
roles as a leading thought leader and independent trusted advisor to PFS
stakeholders across a broad range of geographies and social issues.
The primary outcome will be the provision of $2.88 million in grant
funding to state and local governments, and nonprofit providers to
structure high-quality PFS transactions.
-
Third Sector Capital
Partners
With
$1.90 million, this project will tackle the most pressing challenge in the
PFS field today: how to develop multi-government-level (local, state,
federal) contracting and financing for outcomes-driven services. This
project will create a laboratory for testing promising PFS mechanisms by
providing technical assistance to governments and will convert lessons
learned from individual projects into scalable PFS blueprints.
-
University of Utah David
Eccles School of Business PFS Lab
With
$1,150,000, the PFS Lab will provide technical assistance to nonprofit
service providers to increase their capacity to participate in PFS deals.
The PFS lab will focus its activities on building the PFS field in the
Western United States with an initial focus on the intermountain west.
|