A shift in global philanthropy to Impact Investing is evident while Missoula County, Montana is investigating SIB usage. Happy reading:
Missoula County Explores Innovative ‘Pay for Success’ Solution To Jail Overcrowding
Martin Kidston – Missoulian
Political leaders across Missoula have high hopes riding on a University of Utah grant designed to find innovative ways to address major societal issues, including jail overcrowding.
County commissioners this week applied for a $101,000 grant from the university’s Policy Innovation Lab to create a “Pay for Success” program that could, they believe, take pressure off the county’s 394-bed jail.
“This has never been done in Montana before,” said Commissioner Cola Rowley. “There are only four or five places in Montana with the capacity to do this. If you can get somebody in Montana to figure this out, they can help bring it to the entire state.”
The Policy Innovation Lab, funded by a $1.5 million grant from the White House and its Social Innovation Fund, issued a call for proposals from governments in 10 Western states to tackle issues in criminal justice, education and homelessness.
The lab will select three to five local governments to fund, and Missoula County hopes to be one of them. Despite new social programs and jail diversion efforts, overcrowding remains an issue at the county’s 16-year-old detention center.
Impact Investing Most Promising For Global Philanthropists
Pro Bono Australia
Impact investing is seen as the most promising trend by the majority of global philanthropists, according to new figures.
The BNP Paribas Individual Philanthropy Index 2015 revealed that 52 per cent of global philanthropists nominated impact investment as the top way to contribute to society in the future.
The Individual Philanthropy Index by Forbes Insights measured the commitment of philanthropists in four regions – Europe, Asia, the Middle East and the United States and was derived from a survey of some 400 high net worth individuals in the four regions, each with investable assets valued at $5 million or more.
“While not strictly philanthropy, impact investing, which prioritises social and environmental returns before financial returns, is exciting to many people who care about philanthropy and social change,” the report said.
“It offers the potential of unleashing a huge base of capital to fund sustainable market solutions. By investing in companies that actively contribute to society, impact investing is contrasted with socially responsible investing, which aims to avoid certain companies, sectors or regions.”