National Service Blog

  • Posted on May 20, 2015

    As one of the first wave of federal Pay for Success (PFS) grantees, Third Sector Capital Partners prides itself on going the extra mile to support programs that help at-risk youth and young adults secure a living wage and the employment skills to gain self-sufficiency.

    With a $1.9 million grant from the Social Innovation Fund (SIF) in 2014, the Boston-based advisory firm is strengthening the ability of local governments and service providers to implement PFS, a new way of focusing on outcomes. Under a PFS-financed project, the government leverages philanthropic and private dollars so that government pays only after service providers generate tangible results.

    Through its federal award Third Sector is offering technical assistance to seven subrecipients across workforce development, education and social services, working with these agencies to develop their own capacity to implement PFS.

    But in addition to technical assistance, Third Sector is taking innovative steps to promote success of these efforts. Unique among the 2014 SIF PFS grantees, Third Sector is requiring subrecipients to provide matching funds so that these agencies also have a stake in developing effective pay-for-performance models.

    “It’s important for these agencies to have skin in the game,” said Tim Pennell, Third Sector associate director. The cash match may be small – a minimum of $25,000 – but it provides ample evidence of the organization’s commitment to the PFS concept.

    “It means they are putting...

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