“Social Impact Partnerships: Making a Difference” @ Huffington Post
Posted on September 4, 2012
Kenneth Thompson — September 4, 2012: “In the autumn of 2010, the first social impact partnership contract was launched by Social Finance, Ltd. in England as a means to reduce recidivism among offenders from the Peterborough Prison. Since then, Social Finance was launched in Boston to support the development of social impact partnerships in the United States, and numerous states and cities have efforts underway to implement these innovative financial instruments that connect the social sector to the capital markets and generate both beneficial social outcomes and financial returns. As Linda Gibbs, deputy mayor of New York City, describes:
Social impact bonds increase the opportunity for social policy to evolve because they are designed to raise private money to support programs and services that advance the public good and help move the government towards outcome-based contracts.
This novel approach to addressing complex social problems just may be the way to create real impact that has been illusive for many approaches in the past…………………………….”
Read more at Huffington Post.