Social Finance

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Grantee Information 

Federal Award: $1,444,724 over 3 years
Focus Area: Economic Opportunity, Healthy Futures, Youth Development
Geographic Focus: Nationwide

Social Finance is a 501(c)(3) nonprofit organization dedicated to mobilizing capital to drive social progress. We believe that everyone deserves the opportunity to thrive, and that social impact financing can play a catalytic role in creating these opportunities. We design and manage public-private partnerships that tackle complex social challenges, such as achievement gaps, health disparities, and prisoner recidivism.

Core to our work is the development of Pay for Success financing, also referred to as Social Impact Bonds. An innovative funding model, Pay for Success helps to measurably improve the lives of people in need by driving government resources toward better, more effective programs.

Social Finance will have two open and fair competitions to select a total of up to six government or tribal entities as service recipients. Up to six Outcomes Rate Cards will be developed during the grant period and up to six rate card-based RFP procurement processes will be developed for each jurisdiction. Outcomes rate cards are a menu of outcomes that government seeks to achieve and the prices they are willing to pay for each outcome achievement. They are used as a procurement and contracting tool with the ability to standardize performance-based financing, through Pay for Success, and drastically reduce the time such deals take to get to market.  One rate card can result in multiple contracts with multiple providers, who must deliver against its pre-determined outcomes and prices, receiving payment only when the stated outcomes are achieved and participants’ lives are positively impacted.



 

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