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Claerwen Little
Claerwen Little
Claerwen Little
Claerwen Little
Claerwen Little
Claerwen Little
Claerwen Little
Claerwen Little
Claerwen Little
Claerwen Little
Claerwen Little
Claerwen Little
Claerwen Little
Claerwen Little
Claerwen Little
Claerwen Little
Claerwen Little
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Claerwen Little

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  • 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. Coming together is a beginning; keeping together is progress; working together is success. Henry Ford
  • 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. 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. 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• ‘Known unknowns’ → information gaps established in the tender process • Development phase provided critical access to unpublished data • Not all ‘unknowns’ were readily ‘knowable’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. 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. 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. 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. Meeting investors
  • 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. 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. 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. 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. 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. The full circle Coming together is a beginning; keeping together is progress; working together is success. Henry Ford
  • 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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