More discussion on the Rikers Island theme…
Putting Evidence First: Learning From The Rikers Island Social Impact Bond
John Roman, Ph.D. – Huffington Post
Results from the first generation of social impact bonds (also known as pay for success deals) are starting to come in. Today, the field has learned the results of the evaluation of the first social impact bond transaction in the United States.
The investment by Goldman Sachs and Bloomberg Philanthropies in a program to serve young men at the Rikers Island jail–the main processing and housing facility in New York City–did not show a sufficiently positive effect to warrant the continuation of this intervention. The program will terminate at the end of August.
While the results seem to be a defeat for this approach, we see them as a partial victory for this disruptive innovation.