Presentation

Pay for Success and Social Impact Bonds: Funding the Infrastructure for Evidence-Based Change

This presentation provides an overview of how to use strategic planning upfront to develop PFS-financed projects that bring the most effective evidence-based programs to fruition. Once strategic planning is complete, jurisdictions should follow a five step process that uses cost-benefit analysis to price the transaction and a randomized control trial to evaluate impact.

Report

An Overview of Pay for Success: Funding the Infrastructure for Evidence-Based Change

Understanding existing research evidence informs the selection of rigorous interventions, the local capacity needs to provide services, the pricing and performance targets for the PFS transaction and the evaluation expectations. This general overview of the strategic planning and five-step process needed to support high-quality PFS projects discusses current opportunities in criminal justice and highlights the models advantages and disadvantages.

Brief

Five Steps to Pay for Success: Implementing Pay for Success Projects in the Juvenile and Criminal Justice Systems

This technical report provides an in-depth review of the PFS model, the state of the field, and the strategic planning and five-step process needed to execute high-performing projects. The report contextualizes the PFS framework within the model of existing state and federal legislation and notes key issues and obstacles that jurisdictions interested in pursuing the model will need to address.

Testimony

Social Impact Bonds: Testimony before the Committee of the Whole Council of the District of Columbia

Social impact bonds (SIBs) inject private-sector capital into public-sector activities for improved outcomes and innovation. Private investors fund interventions that are uncomfortably risky or expensive for the public sector. If established performance targets are met, investors are rewarded with the profits. Otherwise, the government does not pay for the services delivered. In the SIB model everybody may win: investors leverage resources for potential profit and provide a socially beneficial investment, while the government gets private-sector investment for a new intervention.