The California Endowment Awards Grant for Pay for Success Collaboration Between NCCD & Third Sector Capital Partners
The California Endowment has awarded $250,000 in grant funding to the National Council on Crime and Delinquency (“NCCD”) and Third Sector Capital Partners (“Third Sector”) to lay the groundwork for two innovative outcome-based human services programs to serve California communities. The grant funding provided to the partnership will be used to complete feasibility studies on the viability of utilizing Pay for Success (“PFS”) programs to deliver social services in the areas of juvenile restorative
Third Sector recently participated at the Hong Kong Social Enterprise Summit, which took place from November 28-30, 2013. The government of Hong Kong has established a HK$500 million Social Innovation Fund and invited experts to speak about key impact investing issues. Rick Edwards, Partner at Third Sector, spoke about Pay for Success innovation at two sessions on social innovation and impact. Rick and other participants recommended that the HK government focus the planned Fund on innovative program research and capacity building. For more information on the Summit, please see their
Third Sector was pleased to respond to the U.S. Treasury Department’s Request for Information on strategies to accelerate the testing and adoption of Pay for Success financing models in the United States on December 2nd. President Obama’s 2014 budget included a request for a $300 million appropriation to create an Incentive Fund to help state and local governments implement PFS projects. The Treasury Department sought information to help develop functions and uses for a potential Incentive Fund.
Based on our experience implementing PFS projects, our response outlined our thoughts on how
Third Sector Capital Partners, with support from the Health Trust, has published a case study that documents Santa Clara County’s exploration of a Pay for Success initiative from its origins in community conversations through the County Board of Supervisors’ vote to fund the construction of one or more Pay for Success contracts. In the case study, Third Sector discusses the critical factors that advanced the project and key lessons learned by stakeholders. Click here to view the case study.
Massachusetts Awarded $11.67 Million U.S. Department of Labor Grant for Pay for Success Project Led by Third Sector Capital Partners
Massachusetts has been awarded an $11.67 million grant from the U.S. Department of Labor that will expand the Commonwealth’s Social Innovation Financing project by providing additional success payments tied to increases in employment and reductions in recidivism. Third Sector Capital Partners is the project intermediary for this juvenile justice project, in partnership with New Profit Inc.
“The Department of Labor’s grant award represents an important endorsement of the quality of the Commonwealth’s juvenile
