“Under Mayor Emanuel, $16.6 million in ‘social impact bonds’ from Goldman Sachs will cost taxpayers more than double the amount borrowed. The money used to pay the interest and multimillion-dollar fees will come from property tax dollars that would have otherwise gone to schools and further mortgage our children’s future,” Garcia said.
The commercial director of the children's charity says it's wrong to compel charities to sign up to social investment schemes as a condition in a contract or programme
The city is about to enter into a $30 million agreement with several Wall Street lenders to finance an early education program that will allow banks to profit off the educational success of children.
The University of Utah's James Lee Sorenson Center for Global Impact Investing has been awarded a $1.15 million grant by the Corporation for National and Community Service to create a "Pay for Success
We will launch a Social Impact Bond pilot program, allowing community groups to bid to make the greatest impact upon fighting poverty and to fuel sustainability of the organizations that work to improve people’s lives.There will be no financial consequences for the province.
The NFP Experience with Social Impact Bonds
Social Impact Bonds (SIBs) are a new funding tool that uses private capital to fund preventative social interventions. A new idea generating high levels of excitement and controversy, advocates see SIBs as a vehicle for innovation, while critics fear that they will be used by government to offload social spending. In fact, it is still early days and the evidence is not yet available to determine their success, failure, threat or promise. This Sector Signal looks at the early experiences of NFP service providers in SIBs and examines challenges and opportunities of the model.
In late July, the Social Innovation Fund, a new $50 million federal program aimed at financing the replication of nonprofit programs that work, made its first grants.
WASHINGTON (Reuters) - Republican U.S. Representative Paul Ryan proposed a new way to help poor Americans on Thursday with a plan to allow charities, community groups and even for-profit firms to compete
The latest from Mowat in our ongoing Shifting Gears research partnership with KPMG, this study looks at the growing global trend toward outcomes-based program funding in an era marked by fiscal restraint and rising expectations for accountability and effectiveness. The paper studies the challenges facing governments that seek to extend an outcomes-based model to highly complex program areas like criminal justice and child and family welfare.
Recently the Government announced that it was pulling the plug on the Peterborough Prison Social Impact Bond (SIB) pilot, despite an interim evaluation showing “promising results”.
Among some promoters of social impact bonds, one might find a tendency toward irrational exuberance. They’ll slip into language that suggests the market discipline purportedly inserted into social programming by private capital is much more broadly applicable to a range of social problems than experience so far bears out. We have some enthusiasm-tempering considerations that SIB advocates and critics might reflect upon.
This paper aims to provide an introduction to and overview of the social investment market for policy makers in OECD and non-OECD countries. Social investment
The third tranche of the pilot social impact bond project working with offenders at Peterborough Prison will be replaced with an “alternative funding arrangement”, the Ministry of Justice has decided.
Social Impact Bonds (SIBs) represent a new and particularly disruptive form of social service privatization that bears resemblance to the introduction of public private partnerships for the development of hard infrastructure. Social impact bonds pose a major risk to the preservation of valuable public services. Based on this detailed critique, unions and non-profit organizations involved in the delivery of services to people must oppose them.