Social Benefit Bonds
Investing in Social Change
The Benevolent Society Experience
Introduction
• The Benevolent Society (TBS) along with our partners (CBA and
Westpac) have developed a Social Benefit Bond...
TBS History in Social Finance
• As Australia’s first charity TBS has a long history of social innovation:
• In the early d...
TBS History in Social Finance
• Proceeds from sale of hospital partitioned into an endowment
under separate governance mod...
Out of Home Care and Social Benefit Bonds
• I am sure no one in this room thinks NSW Out of Home Care numbers are ok
• 18,...
Resilient Families Service
• Working with over 300 families over a 5 year period
• Mix of existing and new practice and se...
Logistical Challenges
• Measurement framework and government savings:
• timeframes (can’t be too long)
• which Government?...
Sector Implications
• Social Benefit Bonds one type of social finance – not suitable for
all
• Ability of smaller and medi...
Conclusion
“It ain’t easy but it’s worth it”
Through our Social Benefit Bonds we want
• To deliver high quality services t...
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Intensive Family Support by The Benevolent Society under our Social Benefit Bond: Evidence-informed practice to promote resilience in children and families with complex needs

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Steve Hawkins, General Manager, Business Development, Benevolent Society delivered this presentation at the 2013 Social Finance Forum in Sydney/Australia. The two-day event reviewed the benefits of social service bonds, government opportunity and policy that supports the social finance market, the investor appetite for social impact bonds, calculating risk, measuring outcomes, as well as numerous case studies and international expertise.

In 2013 Informa will host the inaugural Social Finance Summit in the UK. The event will be held on the 12th and 13th November at the Hilton London West End. For more information on the outstanding speaker line-up, please visit www.socialfinancesummit.com

Published in: Economy & Finance, Business
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Intensive Family Support by The Benevolent Society under our Social Benefit Bond: Evidence-informed practice to promote resilience in children and families with complex needs

  1. 1. Social Benefit Bonds Investing in Social Change The Benevolent Society Experience
  2. 2. Introduction • The Benevolent Society (TBS) along with our partners (CBA and Westpac) have developed a Social Benefit Bond which we are currently marketing to investors. • Craig Parker of Westpac has already talked about the key financial and investment parameters and so I will focus on the service and sector outcomes from this important initiative. • This presentation covers the following: • TBS history in social finance and why we tendered to undertake a Social Benefit Bond • The OOHC issue and early intervention • Service design and the role of the Social Benefit Bond • Logistics • Sector implications
  3. 3. TBS History in Social Finance • As Australia’s first charity TBS has a long history of social innovation: • In the early days of the colony TBS campaigned against a mentality that poverty was “deserved” • Campaigned for old age pension • Founded the first maternity hospital that became Royal Women’s Hospital in Paddington • More recent initiatives have included: • Social Leadership Australia • SVA • GoodStart
  4. 4. TBS History in Social Finance • Proceeds from sale of hospital partitioned into an endowment under separate governance model from day to day operations • Investment in GoodStart • Testimony to Senate Inquiry into financing not-for-profit sector • Joint advocacy with Chris O’Brien Lifehouse on tax incentives for financing social infrastructure • Creation of new social enterprises, Taste Food Tours, Family Health and Mother Baby Hub and our largest and most successful social enterprise Social Leadership Australia • Investment in SVA Social Benefit Bond
  5. 5. Out of Home Care and Social Benefit Bonds • I am sure no one in this room thinks NSW Out of Home Care numbers are ok • 18,000 children in 2012 up from 12,700 in 2007 • Equivalent to 1.1% of all children living in NSW • BCG estimate of cost per child $66,000 p.a. (+ impact on child) • We estimate approximately 3% of families eligible for intensive family preservation services receive them • The Benevolent Society’s mantra, and I am sure many of you have seen and heard our CEO Anne Hollonds discuss this is we need more investment in prevention and early intervention • Social Benefit Bonds will allow us to provide intensive family preservation services to over 300 additional families with the aim of reducing entries into OOHC • However, we also recognise this is not the earliest we could work with these families – our wider hope is more finance for earlier and earlier intervention
  6. 6. Resilient Families Service • Working with over 300 families over a 5 year period • Mix of existing and new practice and service models based on evidence informed practice – for example Homebuilders© in US and our own Resilience Practice Framework • Service will involve intensive period followed by a “step down” support period • Key advantages • Outcomes not inputs measured • Evidence of impact over 5 year period (data access) • Control over service design – number and quality of staff, service provided to families • Ability to re-engage with families who have completed service • Ability to work with Government to refine service design
  7. 7. Logistical Challenges • Measurement framework and government savings: • timeframes (can’t be too long) • which Government? (who funds if savings across different levels) • cohort selection (ethics, appropriate matching) • Structural challenges • legal • finance • investors and marketing • Capacity • Issuer credit rating • Managing business as usual • Economic risk to provider (indemnities, co-investment)
  8. 8. Sector Implications • Social Benefit Bonds one type of social finance – not suitable for all • Ability of smaller and medium size players to participate • Bonds vs Pay for Performance contracts • Size of investor market / role of intermediaries
  9. 9. Conclusion “It ain’t easy but it’s worth it” Through our Social Benefit Bonds we want • To deliver high quality services to families • Create a new source of funding • Prove the value of investment in prevention • Allow Government’s to fund new services within fiscal constraints

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