The Philanthropy Column
Abstract
If you ask a local philanthropist whether she would consider supporting a government-sponsored human services project, chances are her response will be pretty negative.
However, the environment and infrastructure to support government-sponsored initiatives with philanthropic capital are starting to change globally with the advent of social impact bonds. The first social impact bond was launched by Social Finance UK in September of 2010. These types of investments are meant to encourage innovation by allowing the government to partner with enterprising organizations and to secure financing from philanthropists willing to cover start-up costs and bear the risk of innovation. The way the bonds work is that repayment to investors is contingent upon specified social outcomes being achieved.
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Copyright (c) 2013 Teresa Araco Rodgers, Maya Sharma (Author)
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