The MaRs centre in Toronto has an event June 9th while Washington DC is looking at SIBs to help combat teenage pregnancy. Last but by no means least, is a new paper written by Jane Hughes and Jill Scherer at Social Finance US all about this wondrous topic.

Meanwhile, if you have any interest in exchange markets, we have a happy anniversary as our core Exchange Invest newsletter is one year old today.

Mayor Pursues Nation’s First Social Impact Bond For Financing Programs To Reduce Teen Pregnancy & Improve Education
Office of the City Administrator

Mayor Vincent C. Gray’s Office of Budget and Finance announced that the District will become the first jurisdiction in the nation to implement a Social Impact Bond (SIB) – an outcome-based public-private partnership – to finance services aimed at reducing teen pregnancy and improving education outcomes in the District.

A SIB brings together government, service providers, investors and a financial intermediary to mobilize new private capital to fund the expansion of evidence-based social programs. Under a SIB, governments pay for the achievement of pre-determined outcomes. Socially conscious investors who provide the up-front capital to fund the program would be repaid if the program has helped achieve the desired social outcome. This innovative approach has the potential to draw new funding sources for programs that deliver measurable social benefits while ensuring that taxpayer dollars only pay for success. The District is working with Social Finance US, a non-profit intermediary, to develop and launch its first SIB.

The SIB under development is designed to reduce the incidence of teen pregnancy while improving educational outcomes for high-school-aged youth in the District. While the District has already seen significant improvements in reducing the incidence of teen pregnancy, it continues to have a teen pregnancy rate that outpaces that of the national average.

‘Foundations For Social Impact Bonds’
Philanthropy News Digest

The social impact bond market has evolved quickly from concept to reality thanks in part to foundation support, a report from Social Finance finds. According to the report, Foundations for Social Impact Bonds (56 pages, PDF), a number of large foundations are actively supporting the SIB ecosystem by awarding grants and program-related investments in support of social innovations; fostering partnerships between investors and social service providers; and educating policy makers, the public, and others about SIBs. Opinions among foundation staff interviewed for the report were divided, however, about the role foundations should play over the long term, with some arguing that foundations should help seed the market but then make way for mainstream impact investors and others arguing that because foundations bring not only capital but also knowledge, integrity, and credibility to the market, they should remain engaged.

Government’s Role In Social Impact Bonds
Mowat Centre

Is there a way for governments to foster innovation and increase their capacity to address social problems while also improving the results they obtain from social service spending?

The answer may lie in a promising new social finance model called Social Impact Bonds (SIBs).

At this event, professor Jeffrey Liebman, director of the Harvard Kennedy School Social Impact Bond Technical Assistance Lab (SIB Lab) and one of the world’s leading experts on SIBs, will present this innovative new tool. He will cover a wide range of issues related to SIBs, including:

How the SIB model is helping governments overcome barriers to social innovation.

What is involved in setting up a SIB project.

What the Harvard SIB Lab has learned from working with 10 state and city governments to develop some of the first SIBs in the United States.

What questions still remain about the model.

Event Date
Monday, June 9, 2014
5:00p.m.-6:30p.m.

Location
MaRS Centre, Auditorium, 101 College Street, Toronto, ON