We are thrilled to announce the launch of the Commonwealth of Massachusetts’ Pay for Success initiative, which focuses on reducing recidivism and improving employment outcomes for over 900 at-risk young men in Massachusetts. For more information about this landmark initiative, please see our webpage on the project here.
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
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
Santa Clara County Hires Third Sector to Construct and Implement Pay for Success Pilot Project
Santa Clara County’s Board of Supervisors voted unanimously on August 27, 2013 to advance the County’s pursuit of Pay for Success (PFS). The Board’s vote allocated $75,000 in funding for Third Sector Capital Partners (Third Sector). The Sobrato Family Foundation and the Silicon Valley Community Foundation will match the County’s support.
The County’s funding is an important evolution in the PFS field and demonstrates government’s increasing interest in providing financial support for PFS exploration and project construction.
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