The recent Stanford Social Innovation Review article “Social Impact Bonds: More Than One Approach” highlights the work of Santa Clara’s Project Welcome Home and Los Angeles County’s Just-in-Reach project, both of which Third Sector has been deeply engaged. The article discusses how social impact bonds differ between projects and geographies, and how those differences impact implementation. More specifically, it points to Project Welcome Home as a great example of multiple funders working at difference risk levels and roles. And among the authors’ recommendations, they suggest that in the design of Pay for
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 services
The following is excerpted from Next Billion’s Impact Investing Insights series. You can watch Rick’s interview here.
Goldman Sachs recently made headlines by investing in Roca, a Massachusetts nonprofit that tries to keep young men out of jail. The investment was notable not just because Goldman was focusing on social impact, but because it also hopes to make a profit. Under the seven-year deal, Roca will try to help 1,000 young men – and if they spend 22 percent fewer days incarcerated than their peers, the state will save enough to pay back Goldman’s $9 million
The Commonwealth of Massachusetts, Roca, Inc. and Third Sector Capital Partners, Inc. launched the Massachusetts Juvenile Justice PFS Initiative in Springfield, Massachusetts on Tuesday. Local partners and supporters spoke at the event, including Sheriff Michael Ashe of Hampden County, Domenic Sarno, Mayor of Springfield and Alex Morse, Mayor of Holyoke. Jarne Jones, a participant in Roca’s Springfield program, also spoke about his experience.
Press coverage of the event included:
Roca to prepare 300 Western Massachusetts young men for work, avoidance of crime, through unique state-funded program – MassLive via The Republican
Massachusetts Begins Juvenile