Corporation for National and Community Service: Social Innovation Fund Pay for Success Cooperative Agreements
The Social Innovation Fund (SIF) Pay for Success (PFS) Grants Competition will provide grants to organizations seeking to advance and evaluate emerging models that align payment for social services with verified social outcomes. Consistent with the broader mission of the SIF, the PFS Competition intends to encourage the implementation of PFS projects in order to enhance the reach and impact of innovative community-based solutions in low-income communities.
Pay for Success offers ways of partnering with philanthropic and private sector investors to create incentives for service providers to deliver better outcomes at lower cost—producing the highest return on taxpayer investments. The concept is simple: pay providers after they have demonstrated success, not based on the promise of success. Pay for Success financing is a mechanism for increasing investments in effective social interventions by changing the way government allocates and invests its resources – focusing on results and outcomes. Pay for Success grantmaking efforts seek to identify situations in which the Pay for Success model will be most effective. Overall, this will aid in advancing the emerging models that align payment for social services with verified social outcomes.
The 2016 SIF PFS Competition seeks to advance PFS by providing funding for Transaction Structuring activities in order to move High-Quality PFS projects from the developmental stage to the implementation stage. Specifically, CNCS will award funds to recipients to support subrecipient and service recipient activities that structure and enable PFS projects. These activities may include, but are not limited to the following: providing overall PFS Project coordination and support; raising capital and developing capital structure; mediating and facilitating agreement between each of the parties to the PFS Project; closing the PFS Project and preparing for post-closing activities; and supporting “ramp-up” activities such as capacity building.
The SIF focus areas for this competition are:
- Youth Development: Preparing America’s youth for success in school, active citizenship, productive work, and healthy and safe lives, including crime reduction initiatives focused on juvenile delinquency and victimization prevention and response
- Economic Opportunity: Increasing economic opportunities for economically disadvantaged individuals
- Healthy Futures: Promoting healthy lifestyles and reducing the risk factors that can lead to illness
Amount: A total of $10,600,000 is available; grantees will be awarded between $350,000 to $1,800,000 each year over a three year period. There is a 1:1 match required.
Eligibility: Nonprofit organizations, including public or non-profit universities, faith-based organizations, and state and local governments (and other political subdivisions).
Note: Applicants are encouraged to send a Notice of Intent to Apply by January 13, 2016.
This post was filed under: