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Category Archives: Social Impact Bonds / Pay for Success
House Holds Hearing on Social Impact Bonds
Legislation that would provide additional federal support for social impact bonds (SIBs) took a tentative step forward today when a House subcommittee held a hearing focused on their potential benefits and tradeoffs. The bill being considered, the Social Impact Bond … Continue reading
Posted in Social Impact Bonds / Pay for Success
Teen Pregnancy Prevention: Evidence Base Grows, New Social Impact Bond in DC
The Department of Health and Human Services (HHS) has announced that it has added four new programs to the list of evidence-based models evaluated by its Teen Pregnancy Prevention Evidence Review, bring the total number of effective programs on its … Continue reading
Early Results of Peterborough Social Impact Bond Experiment Spark Debate
The initial results of an internationally known experiment with social impact bonds being conducted in Peterborough, England are being hotly debated by critics and supporters who disagree over how successful it has been. The program was originally intended to reduce … Continue reading
Posted in Social Impact Bonds / Pay for Success
Social Impact Bond Bills Introduced in Congress
Two bills with bipartisan sponsorship have been introduced in Congress to expand social impact bonds. In the House, Reps. Todd Young (R-IN) and John Delaney (D-MD) introduced the Social Impact Bond Act (H.R. 4885) on June 18. A companion bill, … Continue reading
Posted in Social Impact Bonds / Pay for Success
New Workforce Law Provides $300 Million for Pay-for-Success Programs
On July 22, President Obama signed the Workforce Innovation and Opportunity Act (WIOA) into law. The law authorizes and reauthorizes a total $9.5 billion per year in federal funding for workforce programs. The new law eliminates 15 existing federal workforce … Continue reading
Social Innovation Fund Announces $11.2 Million for Pay-for-Success Grants
The Social Innovation Fund (SIF) has announced that will provide up to $11.2 million in grants for eligible nonprofit organizations and city and state governments for pay-for-success (PFS) programs in low-income communities. The grants will range from $200,000 to $1.8 … Continue reading
Workforce Innovation Fund Announces New Grant Competition
The U.S. Department of Labor today announced the availability of $53 million in new grants through its Workforce Innovation Fund (WIF). Eligible applicants include state workforce agencies and local workforce investment boards. According to the solicitation, as in previous WIF … Continue reading
Senate Panel Holds Hearing on Social Impact Bonds
On May 1, the Government Performance Task Force of the Senate Budget Committee held a hearing on social impact bonds. The panel invited four witnesses to testify, two of whom were supportive and two critical of social impact bonds (SIBs). … Continue reading
Posted in Social Impact Bonds / Pay for Success