Under these agreements an organization will receive base funding but can receive more if performance targets are met or exceeded. Performance targets will vary based upon the specific needs of a region and may include any combination of measurable criteria such as employment, job retention, wage levels, or barriers faced such as: age, time spent out of the workforce, being indigenous, or being a newcomer. This approach will be used provincewide when new contracts for services are required.
This paper shows how Social Impact Bonds (SIBs) serve to expand privatization in areas of social reproduction and care work. SIBs extend neoliberalism and austerity in the social care sector through the financialization of care work. They open these domains as a new frontier for investment markets, creating inequity for already marginalized groups. The paper concludes with an overview of the SIB landscape in Canada and explores its possibilities for growth.
Social impact bonds funnel private capital into philanthropic projects. Investors receive a return based on whether the project saves public money by addressing the social issue it targets.
Goldman Sachs' move to buy San Francisco-based Imprint Capital has the small community of impact investment asset managers and dealmakers buzzing about who might next be asked to dance by a Wall Street suitor.
Results from the first generation of social impact bonds (also known as pay for success deals) are starting to come in. Today, the field has learned the results of the evaluation of the first social impact bond transaction in the United States.