Third Sector Publications: Massachusetts PFS Project Brief and Lessons Learned
Massachusetts PFS Project Brief and Lessons Learned
Third Sector is proud to share two publications detailing lessons learned and innovations from our role as project intermediary for the Massachusetts Juvenile Justice Pay for Success Initiative, the fourth Pay for Success project implemented in the United States and the largest Social Impact Financing raised to-date. We are well aware that the excitement around Pay for Success and Social Impact Financing far exceeds the actual practice of implementing these projects on the ground. We have written these two documents in order to help practitioners understand the nuts and bolts of putting these projects together. These insights are not high-level or meant to be discussed theoretically: they are intended to provide practical insight for everyone interested in developing a PFS project.
The Project Brief takes a deep dive into the mechanics and structure of the Massachusetts’ PFS contract, including practical innovations that could be replicated in other projects and key insights.
In our Lessons Learned publication, we highlight five key lessons for all stakeholders interested in PFS, ranging from practical issues like development funding to thinking about stakeholders’ roles in contract negotiations.