In 2014 the Social Innovation Fund (SIF) reinforced its commitment to support innovative solutions and change how public and private sector investors allocate philanthropic resources by launching its SIF Pay For Success (PFS) program. This $30-plus million grantmaking initiative was designed to help cities, states, and nonprofits develop PFS projects, which tie funding for social services to its true impact in the community. As of March 2016, the SIF's PFS program has awarded $18.1 million to eight private sector funders. These funders have, in turn, awarded more than $12.3 million to 65 organizations across 25 states and the District of Columbia. This investment has the potential to lead to nearly 100 PFS models across the country.
Over the past two years the SIF PFS Grantees have released Requests for Proposals to select state and local government entities and nonprofit organizations to receive Pay for Success technical assistance and funding. The briefs: “Submitting Your Best Application to Social Innovation Fund Pay for Success Grantees” and “An Analysis of Non-Selected Applications to Social Innovation Fund Pay for Success Grantees” present an assessment of how SIF PFS Grantees scored applications, and findings from selected and non-selected applications. Applicants may review these briefs in order to submit a strong application for PFS technical assistance or funding from a SIF PFS Grantee.
SIF PFS grantees hold competitions for state and local governments and nonprofit organizations to receive subawards for either feasibility assessment and capacity building or transaction structuring support. Please review the descriptions below of PFS grantees’ upcoming competitions.
Open SIF PFS Subgrantee Competitions
- Nonprofit Finance Fund (transaction structuring)
- Local Initiatives Support Corporation, known as LISC (transaction structuring)
- Harvard Kennedy School Government Performance Lab
- Sorenson Impact Center at the University of Utah’s David Eccles School, in partnership with Social Finance, Inc.
Nonprofit Finance Fund (NFF) unlocks the potential of mission-driven organizations through tailored investments, strategic advice, and accessible insights.
About the Awards
- Applicants can apply for grant awards of $75,000 to $250,000 for a 12-month grant period to support transaction structuring efforts that result in PFS projects.
- NFF will award at least $1.6 million in subgrants through this final round of funding.
- Subgrantees will be responsible for raising a 1:1 match for their awards.
- In addition to grant awards, subgrantees will receive: support and coaching from NFF staff; access to a network of PFS practitioners; tools and resources to help move projects toward implementation; and will participate in collaborative, field-building opportunities.
- Until September 19, 2016: Letters of Intent are encouraged and will be accepted
- October 17, 2016 by 5:00 pm PST: Full proposals are due
- From October 18 - February 1, 2017: Proposals will be accepted on a rolling basis, as funds are available. Letters of Intent are strongly recommended at least two weeks prior to submission.
LISC equips struggling communities with the capital, strategy and know-how to become places where people can thrive.
Description of the Grantee’s SIF Pay for Success Activity
LISC will provide selected applicants with the tools and resources necessary for program launch and implementation, including participation in field-building and knowledge sharing activities with a network of PFS practitioners and access to investor capital.
About the Awards
LISC is seeking Request for Proposals for a first round of funding to support transaction structuring activities of Pay for Success (PFS) projects within the United States. The SIF and LISC will award approximately $300,000 to $635,000 in transaction structuring services for a 12-18 month period to qualified applicants.
- October 4, 2016: LISC will host an application webinar to provide an introduction and overview of the application process, timeline and available resources. Register for the webinar.
- October 21, 2016: Letters of Intent accepted via email to firstname.lastname@example.org
- November 10, 2016: Applications due by 5:00 p.m. PST/8:00 p.m. EST