Welcome to today’s SIB News bulletin, where, amongst others Social Finance US CEO Tracy Palandjian, is in the forefront of delivering the SIB message in our lead story while the application of the concept has gone about as far west as possible…before it becomes east: Winnipeg Mayoral candidate wants to use PFS/SIB models – hooray!
What SIBs Mean For Nonprofits And Performance Measurement
Andrew Wolk – root cause
Starting with the Obama administration including Social Impact Bonds in the FY12 budget to the Rockefeller Foundation’s recent $500,000 grant to Social Finance US, Social Impact Bonds (SIBs) have become the newest frontier of public innovation and an excellent way to further build social impact markets. To better understand SIBs as a form of public financing, I sat down with Harvard Kennedy School Professor Jeffrey Liebman, Social Finance US CEO Tracy Palandjian, MHSA President Joe Finn and MLMC Director Lisa Goldblatt-Grace for a panel discussion last month hosted by Root Cause’s SOCIAL INNOVATION FORUM. What is so promising about this approach is not the SIB itself, which as you will read is going to take quite a while to pilot and see results and may be very difficult to scale. Rather the emphasis being put on allocating resources based on performance could be a game changer to the relationship between government and nonprofit service providers. This relationship accounts for billions of taxpayer dollars.
Havixbeck Would Introduce Social Impact Bonds
Chris D
Mayoral candidate Paula Havixbeck says Winnipeg’s social issues can be addressed by introducing social impact bonds.
By involving council, other levels of government, the private sector and non-profit sector, Havixbeck says poverty, homelessness, and housing can receive a greater focus and increased chance of resolution.
“This is a new tool that other countries have had tremendous success with. Why not start in Canada right here in Winnipeg and be first?,” Havixbeck said.
She said by combining efforts and resources, tackling the problems can have a greater impact than separate organizations doing so independently.
Bonds would be paid to organizations when they have demonstrated success. Havixbeck says when the partnership is created, clear metrics and measurement tools are defined to ensure that both parties can clearly identify a successful program.
Shahnaz Wins Social Impact Award
Pro Bono Australia
The Founder and Chairperson of the Impact Investment Exchange Asia (IIX) and Impact Investment Shujog (Shujog) Professor Durreen Shahnaz has won the 2014 Joseph Wharton Award for Social Impact.
The Joseph Wharton Award is one of the highest honors that the Wharton Business School confers on its alumni.
This award recognizes Professor Shahnaz’s efforts in bringing impact investing to the masses through her work at IIX and Shujog. The orgnisations, both Singapore-based, have been at the forefront of driving impact investing, particularly across the Asia Pacific region.