Ten years ago, we saw an opportunity to harness the impact investing movement and build new tools at the intersection of the capital markets and public policy to deliver better outcomes for our communities. We’ve made strong progress since, from launching our first Social Impact Bond and establishing our advisory practice, to exploring donor-advised funds, pioneering the Career Impact Bond, and creating new loan options for DREAMers.
In our impact investing work, we see finance as a means for improving lives. Building investments that achieve real impact compels us to focus on what matters: not the number of people served or the deals formed, but the lives transformed.
In our advisory work, we support all types of organizations who strive to strengthen the social infrastructure for the communities they serve. We’ve helped shine a light on how sophisticated evaluation, contracting, and funding can unleash the ingenuity of the public, private, and social sectors.
Of course, we couldn’t do this work without you. To our many colleagues and supporters from corporate, government, nonprofit, and philanthropy over the years, we’re thankful for your partnership.
We look forward to the next decade, as we continue to help build a world where our economic and social systems enable all people to thrive.
Congress passes Social Impact Partnerships to Pay for Results Act (SIPPRA)
First outcomes rate card in the U.S.
DREAMer Fund launches
Workforce Realigned is published with Federal Reserve Banks of Atlanta and Philadelphia
Washington D.C. office opens
Acuitus, Alchemy Code Lab, American Diesel Training Centers (ADTC), General Assembly, Blue Meridian Partners, John D. and Catherine T. MacArthur Foundation, Michael & Susan Dell Foundation, and Pershing Square Foundation.
Social Finance collaborated with impact investors to create the UP Fund, a $50 million portfolio of 8-12 Career Impact Bonds to provide financing and supportive services to help individuals achieve increased economic mobility.
1,000 people facing barriers to education and employment across the U.S. gained access to career training through partnerships with training providers.
The Commonwealth of Massachusetts, Jewish Vocational Service (JVS), and more than 40 impact investors.
Social Finance collaborated with partners to design and manage Massachusetts Pathways, a Pay for Success initiative to help immigrants and refugees in the Boston area access language and job training to move up the economic ladder.
1,800 people representing 90+ countries of origin and speaking 60+ native languages gained access to language and job training. Participants in the English for Advancement track, one of the initiative’s four programs, earned an average of $3,505 more annually versus the control group.
“Massachusetts Pathways is one of the programs that illustrates our administration's focus on making smart investments in promising evidence-supported programs coupled with rigorous evaluation of results.”
Charlie Baker, Governor, Commonwealth of Massachusetts
Six states and counting across the U.S., workforce training partners, and employers.
Social Finance is partnering with governors across the country to develop Pay It Forward Funds that align state economic development and workforce development agendas, and prepare workers for jobs of the future.
The project aims to help states better align public spending with worker outcomes; create stronger connections between employers, training providers, and students; and recycle funds to train future generations of workers.
“I would like to see Career Impact Bonds and other Social Finance tools be part of the ordinary course for governments, for employees, and for employers to use to have a greater impact on the work that they're doing today.”
Ed Shapiro, Trustee, The Shapiro Foundation
TheDream.US, Donald Graham, Ford Foundation, various grantors, and impact investors.
Social Finance is partnering with TheDream.US, a college access and success program for immigrant youth, to develop a $100 million graduate school loan program for students who want to pursue professional degrees but can’t access federal programs due to their immigration status.
The program aims to provide loans to over 1,000 students over the next five years.
“Our program helps DREAMers fulfill their life’s ambitions but that is not all. It will help diversify the medical, legal, and business professions. Thanks to Social Finance, thousands of DREAMer college graduates will have a chance to become doctors, lawyers, teachers, and much more.”
Donald Graham, Chairman of the Board, Graham Holdings Company
The Texas Department of Family and Protective Services (DFPS) and the Episcopal Health Foundation.
Social Finance designed and helped implement a quality incentive project in which service providers supporting DFPS’ Prevention and Early Intervention program can be rewarded for achieving priority outcomes.
Improved early childhood support services for more than 42,000 Texas families.
“The Social Finance team helped us operationalize tools to analyze and understand outcomes for our nine diverse programs that serve almost 60,000 children and youth every year. From design to implementation, they provided consultation and technical assistance that has been professional and specialized.”
Sarah Abrahams, Deputy Associate Commissioner, Prevention and Early Intervention, Texas Department of Family and Protective Services
Riverside County Children and Families Commission.
Social Finance worked with First 5 Riverside to increase access to home developmental screenings and behavioral health services for children, address program funding challenges, and incentivize better service provider performance.
Improved home visiting services for more than 1,400 parents and 650 children.
“First 5 Riverside has been amazing for my daughter and I—it’s setting us both up for success during a really important time.”
Piera Causley, Administrative Services Manager, First 5 Riverside
Connecticut Office of Early Childhood (OEC) and The Hartford Foundation for Public Giving.
Social Finance created an outcomes rate card to incentivize service provider performance through bonus payments for achieving full-term births, family stability, caregiver employment, and other positive outcomes.
Improved early childhood support services for more than 2,600 families in Connecticut.
“The partnership with Social Finance has provided OEC the opportunity to implement multiple iterations of the outcomes rate card, and realign and renew the agency's vision for the evidence-based home visiting program. OEC is grateful for Social Finance’s vision, collaboration, and support. We look forward to many more years of partnership.”
Ashley McAuliffe, Family Support Division Director, Connecticut Office of Early Childhood
Municipality of Anchorage, Alaska, and United Way of Anchorage.
Social Finance brought together United Way of Anchorage and 20+ government, nonprofit, and philanthropic organizations to launch and manage a Pay for Success project to help residents of Anchorage experiencing homelessness access permanent housing and supportive services.
The project aims to house 150 Anchorage residents experiencing homelessness, with a particular focus on Alaska Natives.
“The full consequences of extreme trauma, untreated severe mental illness, fetal alcohol spectrum disorder, physical disabilities, or addiction don’t develop overnight and won’t end overnight. Lasting improvement is a long journey. And the data we now have confirms we are on the right path.”
Mike Abbott, CEO, Alaska Mental Health Trust Authority
Ventura County, California; the City of Oxnard, California; and the City of Ventura, California.
Social Finance worked with public officials across 13 county and city departments to analyze public service usage data linked to persistent homelessness and examine existing costs and overlaps to shape future prevention efforts.
The analysis was used to design a supportive housing proposal and helped Ventura County win a $2.2 million grant from the U.S. Department of Justice and earn a finalist spot for a $3 million award from the U.S. Department of the Treasury.
“To meaningfully address persistent homelessness, we have to first understand its human and economic costs. Social Finance helped us do that in Ventura County, collecting and contextualizing key data to help us inform future discussions on ending homelessness.”
Christy Madden, HUD Program Manager, Ventura County, California