Community Development Innovation Review
April 2013
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Past issues
Rikers Island: The First Social Impact Bond in the United States
In August 2012, Goldman Sachs Bank’s Urban Investment Group (UIG) announced the first social impact bond (SIB) in the United States, a $9.6 million loan it would make to support the delivery of therapeutic services to 16- to 18-year-olds incarcerated on Rikers Island. The loan will be repaid based on the actual and projected cost savings realized by the New York City Department of Correction as a result of the expected decrease in recidivism. This unique public-private partnership between the City of New York, MDRC, the Osborne Association, Bloomberg Philanthropies, and Goldman Sachs leverages high-quality nonprofit capacity, private-sector capital, and philanthropic support to address a pressing community challenge.
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Other articles in this issue
Community Reinvestment Act (CRA) Banks as Pioneer Investors in Pay for Success Financing
The Real Revolution of Pay for Success: Ending 40 Years of Stagnant Results for Communities
Pay for Success is Not a Panacea
The Promise of Pay for Success
Social Impact Bonds: Lessons Learned So Far
Pay for Success: Understanding the Risk Trade-offs
Learning from the Low Income Housing Tax Credit: Building a New Social Investment Model
Using Social Impact Bonds to Spur Innovation, Knowledge Building, and Accountability
Social Impact Bonds: Using Impact Investment to Expand Effective Social Programs
Innovation Needs Foundation Support: The Case of Social Impact Bonds
Pay for Success: Opportunities and Risks for Nonprofits
Success Begins with a Feasibility Study
Government’s Role in Pay for Success
Human Capital Performance Bonds
Pay for Success: Building On 25 Years of Experience with the Low Income Housing Tax Credit
Can Pay for Success Reduce Asthma Emergencies and Reset a Broken Health Care System?
Supporting At-Risk Youth: A Provider’s Perspective on Pay for Success
Bringing Success to Scale: Pay for Success and Housing Homeless Individuals in Massachusetts
Making Performance-Based Contracting Work for Kids and Families