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ICS Provides Details About New Pay for Success Initiative to Support Early Childhood Outcomes

On October 1, the Social Innovation Fund invested more than $780,000 in the Institute for Child Success (ICS) to advance early childhood outcomes through Pay for Success (PFS) financing. Pay for Success is a financing model that can help scale up effective interventions while saving governments money. While PFS is an exciting model with a range of benefits, it is also technically difficult to deploy and few organizations in the early childhood community have developed the required expertise. The Social Innovation Fund’s investment, along with matching funds from ReadyNation, United Way of Greenville County, and Greenville Health System, will fuel an initiative to build that expertise and capacity for PFS within the early childhood community.

This initiative will deploy three chief strategies to build capacity in the early childhood community for PFS financing: technical assistance, convening, and information sharing.

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Institute for Child Success Awarded Grant to Support Early Childhood Outcomes

SIF_Logo_TaglineWASHINGTON, D.C. (October 1, 2014) – The Corporation for National and Community Service’s (CNCS) Social Innovation Fund (SIF) today announced that the Institute for Child Success (ICS) has been awarded more than $780,000 through a highly competitive open grant competition. Announced at an event co-hosted by the U.S. National Advisory Board on Impact Investing, SIF, and the Beeck Center for Social Impact and Innovation at Georgetown University, the investment aims to advance and evaluate emerging funding models that align payment for services with verified outcomes, an approach known as Pay for Success (PFS).

ICS applied for this investment as a national leader in PFS finance for early childhood programs. The grant will allow ICS to help jurisdictions from across the United States to use PFS financing to improve outcomes for young children and their families. In 2014, ICS organized the first national conference on PFS for early childhood with the business organization ReadyNation. ICS also conducted a 9-month PFS feasibility study on the Nurse-Family Partnership, which enabled South Carolina to move smoothly into PFS transaction structuring and should result in the investment of significant new dollars for services to nearly 4,000 families in need.

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ICS Submits Comments to Congressional Record for Hearing on Pay for Success and H.R. 4885

By Bryan Boroughs and Megan Golden

We have submitted comments, below, to the Congressional Record for the recent hearing about Pay for Success Financing and HR 4885.


The Institute for Child Success is excited by the progress of discussions in Congress surrounding Pay for Success financing models (often called Social Impact Bonds). We thank Representatives Young and Delaney for their leadership in proposing H.R. 4885, and also thank Chairman Reichert for holding a Subcommittee hearing to discuss this topic on September 9, 2014.

The Institute for Child Success respectfully submits the following written comments to the hearing record for your consideration. In these comments, we begin with an overview of our perspective on the benefits of Pay for Success financing, and how these financing models can be particularly advantageous for programs serving our youngest children. We then discuss the substantial benefits of federal involvement, the reasons that legislation is necessary for meaningful federal engagement, and the ways in which H.R. 4885 responds to that need.

Like with any new and exciting innovations, we should also resist the temptation to treat Pay for Success financing as a cure for all ills. Indeed, many have voiced significant concerns – including one of the witnesses at the Subcommittee’s hearing on September 9, 2014. We too want to acknowledge the limitations of social impact bonds, and address how 4885 appropriately handles those limitations; we discuss several of these issues at the end of these comments.

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