SOCAP OPEN is now closed. Thank you to everyone for participating and helping build a great SOCAP13. See the 2013 winners below! The top 23 entries are all coming through to SOCAP.
Pay for Success from Theory to Practice: Live Updates from Massachusetts & California Health Developments
Caroline Whistler, Third Sector Capital Partners
Caroline will discuss key questions being considered in one the country’s first Pay for Success (PFS) contract negotiations, the Massachusetts Juvenile Justice Pilot. Key questions will address considerations for funders. Caroline will also provide live updates from health related PFS projects including the a) supportive housing PFS project in deal construction in Cuyahoga County, OH on mental & behavioral health and child welfare and the b) feasibility work in California exploring a variety of PFS options in health and other areas with Santa Clara County.
collaboration, Data, government, impact investing, innovation, investing, nonprofit, pay for success, philanthropy, social impact bonds, social innovation financing, sustainability
Panel
Intermediate
ABOUT OUR PANELIST
Caroline Whistler, Partner- Client Services, Third Sector Capital Partners
Caroline is a founding team member of Third Sector and experienced project manager. She is leading the PFS exploration work in California and Cuyahoga County, OH. Previously, she worked at Nonprofit Finance Fund Capital Partners, where she developed growth capital campaigns for high-performing nonprofits and supported over $300 million in nonprofit financing.
ORGANIZATION DESCRIPTION
Third Sector Capital Partners is a nonprofit advisory firm focused on the emerging Pay for Success and Social Innovation Finance industries. Our mission is to Accelerate America’s transition to a performance-driven social sector. We believe in the importance of bringing high-performing, evidence-based social innovations to scale, in a way that is financially sustainable.
Our strategy is to help social service providers, government officials, and investors pilot performance-based contracting structures that (a) link payments to rigorously measured social impact goals (Pay for Success) and (b) offer tangible financial and social returns (Social Innovation Finance).
Gary Graves, COO
Santa Clara County
Almaz Negash, Director
Step Up Silicon Valley
Catholic Charities
Todd Hansen, COO
Health Trust
San Francisco Federal Reserve Publication
Caroline Whistler's and George Overholser's recent publication on Pay for Success from the San Francisco Federal Reserve. The article is called "The Real Revolution of Pay for Success: Ending 40 Years of Stagnant Results for Communities" and it focuses on the potential of Pay for Success to transform how government measures impact and allocates resources to the social sector.
Link: http://www.frbsf.org/publications/community/review/vol9_issue1/index.html
Massachusetts Pay for Success Case Study Supported by the Rockefeller Foundation:
Additionally, we would like to share a newly released case study on the Massachusetts Pay for Success experiment with Third Sector Capital Partners, New Profit, and Roca. The study provides a detailed account of securing a Pay for Success contract from a concept phase to proposal.
Link: http://www.thirdsectorcap.org/wp-content/uploads/2013/04/Third-Sector_Roca_Preparing-for-Pay-for-Success-in-MA.pdf