Rockefeller Foundation grantee, Social Finance US, has been working to bring social impact bonds to the United States.
Pay for Success offers a new way for government to ensure effective programs reach traditionally and currently underserved communities. The hope is that the program will help us find better ways to get Americans the supports and services they need.
Pay for Success is being tested in the United Kingdom and Australia and already we see the potential of this new form of grant-making to help governments target limited dollars available on those social programs that achieve positive, measurable impact. In particular it offers a financing solution for preventive services, which are often the first services to get cut in hard budget times even though they lead to reduced costs and better outcomes in the long-term.