Third Sector is re-writing the book on how governments contract social services, by funding programs that work, saving taxpayer dollars, and measurably improving the lives of people most in need.
What is Pay for Success?
Pay for Success (PFS) is an innovative contracting model that drives government resources toward high-performing social programs in areas such as poverty, education, child welfare, recidivism, homelessness, and wellness. PFS contracts track the effectiveness of programs over time to ensure that funding is directed toward programs that succeed in measurably improving the lives of people most in need.
Third Sector's Expertise
Third Sector serves as a trusted advisor that leads governments, service providers, funders, and other stakeholders from the early exploration of Pay for Success through feasibility and project construction and to successful launch. Our team brings extensive public and private sector experience in developing innovative financing and contracting for the social sector.
Social Innovation Fund – Pay for Success Competitions
TIn 2014, Third Sector was awarded $1.9 million to deliver Pay for Success (PFS) technical assistance and feasibility assessments to governments interested in performance-based solutions. Third Sector has since held 2 PFS Competitions, selecting a total of 14 sub-recipients to receive feasibility and technical assistance.
Sub-recipients are receiving capacity building dollars and technical assistance to develop a blueprint for the construction of a pay-for-performance project.