Developing Australia’s first Social
Benefit Bond: the UnitingCare
Burnside experience
Presentation to the 2nd Annual Socia...
Coming together is a beginning;
keeping together is progress;
working together is success.
Henry Ford
About UnitingCare Burnside
• 102 years old - part of the UnitingCare Children,
Young People and Families service group
• O...
The Newpin motivation
• SBB will fund the continuation and expansion of
Burnside’s Newpin program
• Evidence-based family ...
The joint development phase (JDP)
• 12 months as opposed to the anticipated 6
• ‘Known unknowns’ → information gaps
establ...
JDP – the tricky bits
• Key FACS dataset not suited to (or designed for)
comparative outcomes analysis
• To derive a count...
JDP – the investor perspective
• SBBs only useful if they raise funds → must
understand how investors think through risks ...
What did we take to market?
The $7 million Newpin SBB is expected to:
• Allow expansion from 4 to 10 centres
• Work with o...
Meeting investors
A genuine partnership
• Genuine collaboration with government was ‘the’
key to the success of the SBB pilot process
• All ...
Measurement matters
• Once you’ve worked out which programs might be
compatible with SBBs or other forms of social
finance...
Building capacity
• What possibilities are opened up by the social
finance domain?
• How do we learn to think through thes...
Supporting innovation
• A track record made Newpin’s SBB life easier
• What are the options for innovation seed funding
to...
The SBB process - benefits to Burnside
• The SBB process has strengthened Newpin
practice and management
• Even before a s...
The full circle
Coming together is a beginning;
keeping together is progress;
working together is success.
Henry Ford
Questions or comments?
Contact details:
Claerwen Little
CEO
UnitingCare Children, Young People and Families
T: (02) 9768 6...
Claerwen Little
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Claerwen Little

  1. 1. Developing Australia’s first Social Benefit Bond: the UnitingCare Burnside experience Presentation to the 2nd Annual Social Finance Forum 8 August 2013 Claerwen Little, Director UnitingCare Children, Young People and Families
  2. 2. Coming together is a beginning; keeping together is progress; working together is success. Henry Ford
  3. 3. About UnitingCare Burnside • 102 years old - part of the UnitingCare Children, Young People and Families service group • One of the largest providers of support services to vulnerable children and families in NSW including intensive family services and OOHC • Sophisticated management, finance, innovation and research skills • No previous experience in the social finance world
  4. 4. The Newpin motivation • SBB will fund the continuation and expansion of Burnside’s Newpin program • Evidence-based family restoration and preservation model • Breaking intergenerational cycles of abuse and neglect • Key points of difference with other crisis interventions
  5. 5. The joint development phase (JDP) • 12 months as opposed to the anticipated 6 • ‘Known unknowns’ → information gaps established in the tender process • Development phase provided critical access to unpublished data • Not all ‘unknowns’ were readily ‘knowable’
  6. 6. JDP – the tricky bits • Key FACS dataset not suited to (or designed for) comparative outcomes analysis • To derive a counterfactual both SBBs will require the construction of a live control group • Significant administrative impost for all parties • Australia does cost-benefit analysis on social programs poorly
  7. 7. JDP – the investor perspective • SBBs only useful if they raise funds → must understand how investors think through risks v rewards in an unfamiliar domain (OOHC) and new finance instrument (SBBs) • Burnside’s partnership with Social Ventures Australia (SVA) built our understanding • JDP – negotiates how risk is apportioned between parties.
  8. 8. What did we take to market? The $7 million Newpin SBB is expected to: • Allow expansion from 4 to 10 centres • Work with over 700 families approximately 55% have at least 1 child under 5 years in OOHC • Restore over 400 children to their families and to prevent 60 children entering care • Provide investor returns of 10-12% pa • Generate long-term government savings of $95m
  9. 9. Meeting investors
  10. 10. A genuine partnership • Genuine collaboration with government was ‘the’ key to the success of the SBB pilot process • All parties demonstrated professionalism, commitment, openness and trust • This way of working will improve practice quality regardless of the funding and financial arrangements • Data should not be a one-way flow
  11. 11. Measurement matters • Once you’ve worked out which programs might be compatible with SBBs or other forms of social finance you need to ask: • Do our data systems enable measurement of: • Outcomes • The counterfactual • Direct and indirect savings? • If not, what system change is required?
  12. 12. Building capacity • What possibilities are opened up by the social finance domain? • How do we learn to think through these possibilities ? • There is no such thing as a ‘Classic SBB Model’ • Think outside the box and create tailored solutions • Establish efficient means to test the ground
  13. 13. Supporting innovation • A track record made Newpin’s SBB life easier • What are the options for innovation seed funding to: • ‘Road test’ effectiveness • Assess risks and returns for investors?
  14. 14. The SBB process - benefits to Burnside • The SBB process has strengthened Newpin practice and management • Even before a single SBB dollar was raised the SBB process offered us benefits in terms of: • Discipline • Learning to use information • Practice quality and communication • New strategic initiatives in performance improvement and innovation space
  15. 15. The full circle Coming together is a beginning; keeping together is progress; working together is success. Henry Ford
  16. 16. Questions or comments? Contact details: Claerwen Little CEO UnitingCare Children, Young People and Families T: (02) 9768 6866 E: clittle@unitingcarenswact.org.au
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