Social Finance Inc
Social Finance Inc
Social Finance Inc
Programs
Program 1 [2020]
SOCIAL INVESTMENT - AS AN INTERMEDIARY, SFI WORKS IN COLLABORATION WITH ITS PARTNERS TO DESIGN, LAUNCH, AND MANAGE PFS PROJECTS, INCLUDING GOVERNMENT AND OTHER PAYORS OF OUTCOMES ("PAYORS"), SERVICE PROVIDERS, AND IMPACT INVESTORS. THE SOCIAL INVESTMENT PROGRAM IS FOCUSED ON A RANGE OF ACTIVITIES, INCLUDING IDENTIFYING HIGH-PERFORMING SERVICE PROVIDERS, DESIGNING PROJECTS ("PFS PROJECTS"), ANALYZING PROGRAM DATA, CONDUCTING COST-BENEFIT ANALYSIS, AND DRAFTING AND EXECUTING PFS CONTRACTS. WHEN OUTSIDE CAPITAL IS REQUIRED, SFI WORKS WITH PRIVATE IMPACT INVESTORS TO RAISE THE NECESSARY CAPITAL FOR PFS PROJECTS THROUGH EITHER EQUITY OR LOAN FINANCING STRUCTURES. SFI ESTABLISHES SEPARATE AFFILIATES OR SUBSIDIARIES FOR EACH PFS PROJECT TO HOLD THE VARIOUS CONTRACTS WITH THE APPLICABLE PAYORS ("PFS CONTRACTS") AND THE INVESTORS ("EQUITY DOCUMENTS OR CREDIT AGREEMENTS") AND SERVICE PROVIDERS. INVESTOR FUNDS ARE APPLIED OVER TIME TO SUPPORT THE SERVICE DELIVERY AND OTHER COSTS OF THE PFS PROJECT. OUTCOME PAYMENTS RECEIVED BY THE APPLICABLE SFI AFFILIATE OR SUBSIDIARY UPON ACHIEVEMENT OF OUTCOMES ARE THEN REMITTED TO THE INVESTORS IN ACCORDANCE WITH THE EQUITY DOCUMENTS OR CREDIT AGREEMENTS. IF A PFS PROJECT FAILS TO MEET ONE OR MORE OUTCOMES, THE PAYOR WILL NOT BE OBLIGATED TO MAKE THE CORRESPONDING OUTCOME PAYMENTS, AND THE INVESTORS WILL NOT BE REPAID ALL OR A PORTION OF THEIR INVESTMENT. TWO SOCIAL INVESTMENT STRATEGIES EMPLOYED TO DATE INCLUDE: - SOCIAL IMPACT BONDS ("SIB"), WHICH ENABLE GOVERNMENTS TO ACHIEVE RESULTS FOR COMMUNITIES BY PARTNERING WITH INVESTORS AND SERVICE PROVIDERS TO TACKLE PARTICULAR SOCIAL CHALLENGES. GOVERNMENT ONLY PAYS ONCE A PROGRAM ACHIEVES OUTCOMES THAT BENEFIT SERVICE RECIPIENTS AND GENERATE PUBLIC VALUE. SIBS TRANSFER RISK OF NON-PERFORMANCE FROM THE PUBLIC TO THE PRIVATE SECTOR AND ALIGN PROJECT PARTNERS ON THE ACHIEVEMENT OF MEANINGFUL IMPACT. - CAREER IMPACT BONDS ("CIBS"), A DISTINCT CONTRACTING STRUCTURE BASED ON DEFERRED TUITION AGREEMENTS LIKE INCOME SHARE AGREEMENTS IN WHICH IMPACT INVESTOR'S INVESTMENTS COVER UPFRONT PROGRAM COSTS AND CRITICAL WRAPAROUND SERVICES FOR LOW-INCOME, UNDER SKILLED, OR UNDER EMPLOYED STUDENTS IN ORDER TO ADVANCE THEIR ECONOMIC MOBILITY. UNLIKE TRADITIONAL STUDENT LOANS, DEFERRED TUITION AGREEMENTS UNDER THE CIB PROGRAMS DO NOT HAVE PRINCIPAL AND AN INTEREST RATE, BUT RATHER LINK REPAYMENT TO OUTCOMES: STUDENTS REPAY PROGRAM COSTS AS A PERCENTAGE OF THEIR INCOME ONLY ONCE THEY GAIN MEANINGFUL EMPLOYMENT AFTER GRADUATION AND ACHIEVE THE DESIGNATED INCOME THRESHOLD. REPAYMENTS ARE CAPPED AT A CERTAIN DOLLAR AMOUNT AND DURATION. THE SOCIAL INVESTMENT TEAM MAY REMAIN ENGAGED IN A PFS PROJECT ONCE IT IS LAUNCHED THROUGH AN ONGOING PROJECT MANAGEMENT AND ACTIVE PERFORMANCE MANAGEMENT ROLE TO SUPPORT ACHIEVEMENT OF THE PFS PROJECT GOALS AND OUTCOMES.GeographiesNot indicatedDatesJan 1, 2020 – Dec 31, 2020Source990No causes providedNo populations provided–$7.5MProgram 2 [2020]
ADVISORY SERVICES - THROUGH THE ADVISORY PROGRAM, SFI PARTNERS WITH GOVERNMENTS, FOUNDATIONS, AND SERVICE PROVIDERS TO TACKLE SOCIAL CHALLENGES USING THE FULL RANGE OF PAY FOR SUCCESS STRATEGIES. SFI IDENTIFIES BEST-IN-CLASS INVENTIONS, PERFORMS RIGOROUS ANALYSES, BUILDS ECONOMIC MODELS, AND DEVELOPS CUSTOMIZED CLIENT-CENTRIC SOLUTIONS TO DRIVE MEANINGFUL, MEASURABLE RESULTS FOR COMMUNITIES IN NEED. ADVISORY WORK TO DATE HAS INCLUDED LANDSCAPE ANALYSES, FEASIBILITY STUDIES, PERFORMANCE MANAGEMENT SERVICES, AND OUTCOMES RATE CARDS. OUTCOMES RATE CARDS ARE A MENU OF OUTCOMES THAT THE GOVERNMENT SEEKS TO ACHIEVE AND THE PRICES THEY ARE WILLING TO PAY FOR EACH OUTCOME ADJUSTMENT, EITHER AS A BONUS PAYMENT TO THE SERVICE PROVIDER OR AS A CONTINGENT PORTION OF THE FEE-FOR-SERVICE PAYMENT. THEY ARE USED AS A PROCUREMENT AND CONTRACTING TOOL WITH THE ABILITY TO STANDARDIZE PERFORMANCE-BASED CONTRACTING, 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 PROVIERS, WHICH MUST DELIVER AGAINST ITS PREDETERMINED OUTCOMES AND PRIZES, RECEIVING PAYMENT ONLY WHEN THE STATED OUTCOMES ARE ACHIEVED AND PARTICIPANTS' LIVES ARE POSITIVELY IMPACTED.GeographiesNot indicatedDatesJan 1, 2020 – Dec 31, 2020Source990No causes providedNo populations provided–$4.3MProgram 3 [2020]
MARKET EDUCATION - SFI WORKS TO BUILD THE PFS FIELD THROUGH RESEARCH AND PUBLICATIONS THAT SYNTHESIZE SFI'S LEARNINGS AS A PFS PRACTITIONER. THROUGH KEY MARKET EDUCATION EFFORTS, INCLUDING WHITE PAPERS, OP-EDS AND BLOG POSTS, SPEAKING OPPORTUNITIES, AND MEDIA ENGAGEMENTS, SFI CONTRIBUTES TO THE ADVANCEMENT OF EVIDENCE-BASED POLICY, EFFECTIVE PHILANTHROPY, AND IMPACT INVESTING.GeographiesNot indicatedDatesJan 1, 2020 – Dec 31, 2020Source990No causes providedNo populations provided–$821.8K
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