Pay for Success Readiness and Opportunities for Social Enterprises: Third Sector and Year Up
What impact can Pay for Success contracting have on workforce development? What opportunities does the new Workforce Innovation and Opportunity Act (WIOA) present for Pay for Success projects? Earlier this month, Third Sector Capital Partners partnered with Year Up to explore these questions in the kick-off webinar of a series hosted by America Forward, Alternative Staffing Alliance, and SE4Jobs. Our discussion covered the basic stages of Pay for Success contracting, opportunities social enterprises can fit into performance-based contracting, and how Pay for Success can be applied within the workforce development space. Interested? Access a recording of the webinar below. The webinar was presented by Associate …
Co-President Caroline Whistler to Present at SOCAP15, Oct. 7-8th
What impact has PFS had on the United States social sector? As the model gains traction, what can PFS achieve in the future? Next week, TSCP Co-President and Co-Founder Caroline Whistler will be tackling these questions at SOCAP15, an annual conference of leading impact investors, social entrepreneurs, and cross-sector practitioners. On October 6th and 7th, Caroline will be presenting the PFS model, its development, and its ability to more efficiently drive government resources toward more effective social services. You can catch Caroline at SOCAP15 in San Francisco at: Social Sector Transformation through Pay for …
Santa Clara County Selects Telecare Corporation for Innovative “Pay for Success” Project
The Santa Clara County Board of Supervisors approved the selection of Telecare Corporation as the service provider for a Pay for Success project to improve stability and wellness of some of the County’s most severely mentally ill individuals through intensive outpatient treatment, case management, and supportive services. “Improving the stability and wellness of members of our community who suffer from acute mental illness is a high priority for the County,” said President Dave Cortese, County of Santa Clara. “We are hopeful that through this project, we’ll be able to offer …
Nonprofit Finance Fund Publishes PFS Blog Posts from Third Sector, Project Partners
Nonprofit Finance Fund has published blog posts interviewing Third Sector and its project partners in Salt Lake County and Illinois about their experiences developing PFS projects in both jurisdictions. Titled “Voices from PFS Pioneers”, both projects explain the genesis of project development, unique challenges, and innovations developed through project construction. Third Sector is working with the State of Illinois and Conscience Community Network on the Illinois Dually-Involved Youth Project, which seeks to improve outcomes for youth involved in both the foster care and juvenile justice systems. Third Sector is also …
Hillside Family of Agencies Publishes Juvenile Justice PFS Case Study with Third Sector
The Alliance for Children and Families launched Disruptive Forces in Action to showcase the innovative ways its members and others in the sector are harnessing the six forces introduced in its 2011 report, Disruptive Forces: Driving a Human Services Revolution. In its case study of Attracting Investors, Not Donors, Alliance member Hillside Family of Agencies and issue expert Third Sector Capital Partners, Inc. discuss Pay for Success, an emerging funding model that unites nonprofits, government, and philanthropic and corporate investors around achieving a social return on investment. Hillside has partnered with Third …
CommonWealth Magazine Features Interview with Third Sector
Third Sector Co-President & General Counsel, John Grossman, is interviewed by CommonWealth Magazine on the promise of Pay for Success and the Massachusetts Juvenile Justice Initiative. Man in the middle: John Grossman brings government, providers, and money together for pay-for-success projects “JOHN GROSSMAN calls himself an intermediary. It’s an unusual job description, but it’s one that captures what he does putting together complex deals that leverage money from the private sector to fund social service work for government. Grossman is the man in the middle, trying to address social ills by …
Third Sector Works with City of Boston to Release RFI on Pay for Success, Educational Outcomes
Mayor Martin Walsh announced on Monday an effort to identify ways to improve post-high school graduation outcomes for Boston Public Schools’ students. The City has worked with Third Sector to release a Request for Information (RFI) to identify effective programs and services that will increase access to higher education and training and would be funded through a Pay for Success model. The Office of the Chief of Education, along with the Boston Public Schools, have put forth efforts to improve outcomes for youth, including the High School Redesign effort and Success …
Third Sector Capital Partners Featured in Grantee Spotlight from the Social Innovation Fund
It’s graduation season, which means people across the country are thinking about entering the job market. Third Sector Capital Partners, a grantee of the Social Innovation Fund’s Pay for Success program, is currently working to improve employment outcomes for urban young adults by working with Year Up, a Boston-based organization that seeks to improve employment outcomes for urban young adults. Year Up’s Professional Training Corps (PTC) model is an intensive one-year program for 18-to-24-year-olds who are disconnected from both school and work. In 14 locations nationwide, Corps participants spend six months …
Third Sector Named 2015 Game Changer by the Boston Globe Magazine
Third Sector was named a 2015 Game Changer by the Boston Globe Magazine in this week’s issue, which featured CEO and Co-Founder George Overholser’s bet “that data will help make a difference solving some of the most intractable social problems, from juvenile delinquency to homelessness.” The article also cites Third Sector’s work on the Massachusetts Juvenile Justice PFS Initiative, where Roca, Inc. is working with over 900 young men in Boston, Chelsea and Springfield in order to reduce the days they spend in jail and increase their employment opportunities.
Third Sector Authors Blog Post for Harvard Law and Policy Revew
John Grossman, Co-President and General Counsel, and Marcia Chong, Senior Analyst, have authored a blog post for the Harvard Law and Policy Review. Pay for Success: Pay for Success Calls for Innovation in Non-Profit, Contract and Securities Law focuses on how innovative thinking in nonprofit and tax law, government contracting, and securities law will be needed to support the growth of the PFS field. Both John and Marcia have been intimately involved in developing the PFS contracts and other legal agreements for the Massachusetts Juvenile Justice Initiative and the Cuyahoga County …
Feasibility Report on Restorative Community Conferencing Finds Impact and Potential to Scale
In December 2013, The California Endowment funded the National Council on Crime and Delinquency (NCCD) and Third Sector Capital Partners, Inc. (Third Sector) to conduct a feasibility study on restorative community conferencing (RCC) to better understand its potential to be used in a Pay for Success (PFS) project. RCC shows promise as an intervention that could be scaled through PFS given its preventive focus and the promising initial outcomes of youth served through RCC. NCCD and Third Sector focused their feasibility analysis on Alameda County, California, where the Community Works …
Salt Lake County Launches Request for Proposals for Criminal Justice, Child/Maternal Health PFS Projects
The Salt Lake County Pay for Success Initiative has released two Requests for Proposals from qualified non-profits to provide comprehensive services that can improve criminal and other relevant outcomes for high-need populations. The two proposals are focused on criminal justice/recidivism and child/maternal health. Since 2014, the County has been working to assess the viability of implementing Pay for Success projects in the County. In January, Mayor Ben McAdams announced the selection of three issue areas to move forward with Pay for Success contracting: child/maternal health, criminal justice recidivism, and homelessness. …
Santa Clara County Launches Request for Proposals for Mental Health PFS Project
Santa Clara County just launched a Request for Proposals for its Acute Mental Health: Frequent Users Care Coordination Pay for Success Project. The selected agency will enter into a Pay for Success (PFS) contract with the County, under which the County only pays for services if and when successful results are achieved. This PFS initiative is the first in the U.S. to target mental health and the second PFS project in the County and in California, positioning the County at the forefront of the national movement towards performance-based contracting for …
Third Sector Receives $1.9 Million PFS Grant From the Social Innovation Fund
Funding will support competition to develop the capacity of state and local governments to engage in Pay for Success contracts The Corporation for National and Community Service’s (CNCS) Social Innovation Fund (SIF) today announced a $1.9 million grant award to Third Sector Capital Partners, Inc. to accelerate the Pay for Success field. Third Sector will use the funding to hold an open competition for state and local governments to receive Pay for Success (PFS) technical advisory services. “We are honored to receive SIF funding to continue to drive America’s investment …
Video: “The Complex Anatomy of Social Impact Bonds” at SOCAP14
Caroline Whistler, Partner and Co-Founder at Third Sector, moderated a panel at SOCAP14 on “The Complex Anatomy of Social Impact Bonds.” The panelists, all with extensive experience in Pay for Success contracting, discussed the potential for a streamlined process that will bring this financing and performance-driven contracting to scale for governments and innovative service providers. Panelists included Gary Graves, COO of Santa Clara County; Eileen Neely, Director of Capital Innovation at Living Cities; Andi Phillips, Vice President at Goldman Sachs; Bill Heiser, Director of California for Center for Employment Opportunities; …
Third Sector and Ropes & Gray LLP Named As Boston Business Journal’s Partners of the Year
On Wednesday, September 10th, Third Sector Capital Partners, Inc. and Ropes & Gray LLP, were named Boston Business Journal’s Partners of the Year. On an annual basis, the Boston Business Journal honors the connections between businesses and nonprofits in the region. Third Sector’s Managing Partner, John Grossman, and Ropes & Gray’s Partner, Winthrop Minot, accepted the award at the Boston Business Journal’s Annual Corporate Citizenship Summit held in Boston. Ropes & Gray LLP is a global law firm with over 1,100 employees and has received numerous awards for its pro-bono …
George Overholser Testifies at House Ways and Means Hearing
Third Sector CEO George Overholser testified at the House Ways and Means Human Resources subcommittee hearing on September 9th. The hearing, titled “Social Impact Bonds: Can They Help Government Achieve Better Results for Families in Need?” included the participation and testimony from Pay for Success participants including service providers, service recipients, government partners and philanthropic funders. George’s testimony focused on the potential of Pay for Success contracting to help government allocate its resources more effectively and towards programs that truly work for families in need. Other participants noted several benefits …
$11.2 Million in Pay for Success Grants Available from the Social Innovation Fund
On June 26, 2014, the Corporation for National and Community Service (CNCS) announced a Notice of Funding Availability (Notice) of up to $11.2 million for the Social Innovation Fund (SIF) Pay for Success Grant Competition. The PFS competition is designed to examine when and how Pay for Success works best, strengthen and diversify the pipeline of state and local governments as well as nonprofit service providers that are ready to participate in PFS, attract much-needed capital to solutions that work, and collect and share knowledge about every step of the process. …
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 …
Cuyahoga County launches PFS pilot, introduces legislation for first County-level PFS program
Cuyahoga County Executive Ed FitzGerald announced that he will submit legislation to establish the nation’s first county-level Pay for Success program. County Councilman Dale Miller, District 2, will co-sponsor the legislation. The program has the potential to transform the way the County provides services for families who are both homeless and have children in foster care. The Pay for Success model will utilize private funding to pay for the program and only spend County taxpayer dollars to repay funders if the program is proven to be successful. “With our state …