Social Impact Bonds

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Kristina Costa

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Social Impact Bonds

  1. 1. Social Impact Bonds 26 September 2013
  2. 2. Issues facing governments • Program design problems • Fiscal challenges • Failures of political will
  3. 3. New York City: Rikers Island SIB Outcome: Reduce recidivism by 10% or more among a cohort of 3,000 adolescent males at Rikers Island prison over 4 years Cost of interventions: $9.6 million Maximum return to investors: $11.7 million (+$2.1 mil) Unique features: Investment guarantee
  4. 4. New York City: Rikers Island SIB
  5. 5. New York City: Rikers Island SIB How the guarantee works
  6. 6. New York City: Rikers Island SIB
  7. 7. CT Recipient of SIB Lab/Rock. Fdn TA; planning program to reduce recidivism IL Recipient of SIB Lab/Rock. Fdn TA to develop PFS contracts MA PFS projects to address homelessness, juvenile justice; SIB Lab/Rock. Fdn TA recipient CA First health-focused SIB; demo project to reduce rates of asthma among children NY First SIB bond in USA, program to reduce recidivism among adolescents in Rikers Island prison OH With DOJ, testing PFS model for prisoner reentry program; recipient of SIB Lab/Rock. Fdn TA SC Recipient of SIB Lab/Rock. Fdn TA; passed Senate Bill to establish Trust Fund to fund PFS contracts UT First early childhood ed.- focused SIB; preschool program for at-risk children HI House recommended bill to conduct study on SIBs for early learning NJ Bill in Senate to administer 5 year SIB pilot program and study on healthcare PA PFS legislation under consideration for pilot programs CO Denver City is recipient of SIB Lab/Rock. Fdn TA National Progress
  8. 8. Center for American Progress series: Social Impact Bonds http://www.americanprogress.org/series/social-impact- bonds/view/ Pay for Success Learning Hub http://payforsuccess.org/ Social Finance US http://www.socialfinanceus.org/ Additional Resources

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