Third Sector CEO and Co-Founder George Overholser participated in a webcast hosted by the Council of Development Finance Agencies and BNY Mellon that focused on the rise of social impact bonds. Overholser was joined during this webcast by Navjeet Bal from Nixon Peabody and Deborah Burand from the University of Michigan to discuss how these bonds are supporting cutting-edge social service programs. CDFA-BNY Mellon Development Finance Webcast Series: The Rise of Social Impact Bonds VIEW THE WEBCAST

Holder: New Anti-Crime Spending is “Investment” in Innovation by Ted Guest – The Crime Report – October 2, 2012 With government funds for new initiatives scarce as a few federal fiscal year begins, the Obama administration has announced some potentially innovative spending aimed at preventing repeat criminality. Describing what he called “investments […] designed to aid in the development, implementation, and expansion of proven strategies for intervention,” Attorney General Eric Holder told the International Association of Chiefs of Police convention in San Diego yesterday that the Justice Department is working “to improve …

Massachusetts Selects Third Sector Capital Partners for First-in-the-Nation “Pay for Success” Contracts Boston, MA (August 1, 2012) – The Commonwealth of Massachusetts announced today that it has selected Third Sector Capital Partners to develop its two groundbreaking Social Innovation Financing pilots, more commonly known as “Pay for Success” contracts. Massachusetts is the first state in the nation to issue a competitive process to obtain services using social innovation financing. Third Sector will serve as lead intermediary, in partnership with New Profit Inc., for a youth recidivism initiative and as partner to the Massachusetts …

“Mass. program ties nonprofits’ pay to success” by Dan Adams – The Boston Globe – August 1, 2012 Two groups of nonprofit social service providers have been selected by the state to tackle chronic problems with homeless people and juvenile criminals under an innovative new program that will reward the agencies if they can prove their techniques work, or pay them little or even no money if they fail. The program, called Social Innovation Financing, operates on a simple “pay for success” model, in which nonprofits must demonstrate that by keeping youth from …

Third Sector Capital Partners Advances Pay for Success in Cuyahoga County, OH READ THE PRESS RELEASE Third Sector Capital Partners held three public presentations July 9th through July 11th on advancing Pay For Success initiatives in Cuyahoga County, Ohio. The presentations advanced a strategy laid out in the Western Reserve Plan, Cuyahoga County Executive Ed FitzGerald’s vision for improving county services, lowering taxes and increasing government efficiency. The Pay for Success mechanism (also referred to as Social Impact Bonds) has emerged as an innovative procurement mechanism that increases investments in effective social interventions. It fundamentally …

“For Ambitious Nonprofits, Capital to Grow” by DAVID BORNSTEIN – New York Times – June 27, 2012 Imagine that you’re an entrepreneur running a chain of coffee bars and you want to raise capital to open up in new locations. You meet a potential investor, and he says, “I’d love to finance your business, but only the chai latte operation, not the coffee, and only to support drinks you sell in Cleveland next year.” It might sound absurd, but this is the kind of thing that people running nonprofit organizations hear all …

“Investors May Fund Social Programs: State Exploring ‘Pay For Success’; Profits Would Be Tied to Cost Savings” by TODD WALLACK – Boston Globe – June 27, 2011 Massachusetts could be among the first states in the country to raise money for social services by offering investors the chance to earn profits on programs they establish. The approach is known as “social impact bonds” or “pay for success.” It is based on the idea that if programs backed by investors succeed in reducing, for example, the number of inmates in prison or the homeless population, governments will realize big savings, which …

Pay for Success: Investing in What Works George Overholser, CEO and Co-Founder of Third Sector Capital Partners, Inc. speaks about Pay For Success and Social Impact Bonds at the White House. Pay for Success: Investing in What Works was hosted by The White House Office of Social Innovation and Civic Participation, in partnership with the Nonprofit Finance Fund, and brought together officials from federal, state and local governments, as well as nonprofits, philanthropists, academics and intermediaries to identify the potential of the Pay for Success concept and opportunities to pursue Pay for Success …