Massachusetts, like many other states and municipalities across the US, is grappling with a tremendous challenge: With increasingly strained budgets and growing social need, how can government funding be directed towards evidence-based programs that offer demonstrated cost-savings? Pay for Success and Social Impact Bonds (PFS/SIB) have emerged as potential mechanisms for making smart investments in effective social interventions by changing the way Government allocates and invests its resources -- focusing on results and outcomes. In short, funding what works.
In May 2011, Massachusetts issued a Request for Information (RFI) with the goal of helping the Commonwealth determine "the areas of government activity where success-based-contracting strategies have the potential to improve outcomes and/or reduce costs." The Justice System is one area of government activity with the potential to illustrate both improved outcomes and well-defined cost savings for the Commonwealth. In addition, Massachusetts has a variety of established service providers that offer preventative initiatives to populations involved with the Justice System, particularly young people. One of these successful and well-known providers, Roca, had worked with Third Sector Capital Partners (Third Sector) for a year and a half to prepare itself to be a successful candidate for this PFS/SIB opportunity.
This web page is marked up with Schema.org microdata. Much of the necessary microdata is embedded within the HTML that creates the display you see above. The data that shows below is formatted for machine-reading and rounds out the complete descriptive set for this resource. Want more info about all of this? Go here. You can also view the complete dataset for this resource the way a machine sees it here .
Title:: Preparing for a Pay for Success Opportunity
Publication date: 2013-04-10
Publication Year: 2013
Third Sector Capital Partners
North America / United States (Northeastern) / Massachusetts
, innovation financing
Resource provided by: IssueLab
IssueLab's Embeddable Widget
Use this super simple form to customize and generate the code you need to display this content in your own environment - no programming required. The feed will inherit more specific styles, like font face and font color, from your website.
Your widget code
Add to the Collection
Please use the form below to provide us with your recommendation, and we'll check it out. Include your name and email address along with your suggestion just in case we need to get in touch. Thank you for contacting us.