Catalyzing innovative funding mechanisms
Federal, state, and philanthropic funding streams can be complex, all with different requirements. Many providers, stakeholders, and change agents lack the time and comprehensive guidance to maximize funding streams. Increasingly, local communities are taking the lead in creating revenue streams to support local need for quality early childhood programming. Cities and counties are developing innovative public funding mechanisms, employing such levers as property and occupancy taxes, county and city budgets, school board collaborations, and children’s funds and endowments. Rather than focus on one funding stream, ICS utilizes a holistic approach, building successful strategies tailored to each jurisdiction’s economic goals, tax base, need, and priorities.
Contact Bryan Boroughs to learn more about our Strategic Finance Planning support.
Examples of Our Work
- Analysis of Options: ICS has helped several city and state jurisdictions analyze revenue and finance options available to support early childhood investments – ranging from traditional options such as tax and fiscal policies, to innovative options such as Pay For Success (PFS) and outcomes-based financing. In all cases, we can examine the particular landscape of the jurisdiction/s involved, as well as the technical options available, to recommend the most effective paths forward.
- Feasibility Studies and Outcome-Based Impact Analyses: ICS was privileged to be a recipient of funding from the federal Social Innovation Fund (SIF) which allowed us to complete 10 feasibility studies in different communities across the U.S. to explore using PFS funding to expand early childhood funding.
- Transaction Structuring: ICS led the transaction structuring work for a PFS project in Spartanburg, South Carolina, developed in close partnership with the City of Spartanburg, Mary Black Foundation, and others. The project is designed to provide a continuum of services, including home visiting and other parent supports, to young children and families in Spartanburg.
- Resource Documents: ICS has released several related papers focused on PFS from varying angles and tax policies such as the Earned Income Tax Credit. As part of our SIF-support technical assistance, ICS has developed a number of tools and templates to guide communities through assessing PFS feasibility.
- Events: ICS has hosted several Pay for Success conferences across the United States focused on early childhood opportunities.
“The feasibility study ICS produced for Spartanburg legitimized a dream… We would have never reached this point without them.”– Chris Story, Assistant City Manager, City of Spartanburg, SC
Partner With Us
Are you a government agency, foundation, or nonprofit looking for smart public policies and advisement in early childhood development? Learn more about how partnering with ICS can help young children and families thrive.