Federal Agency Announces $13.3 Million Available in New Funding for Pay for Success Projects
FOR IMMEDIATE RELEASE: Aug 26, 2016
WASHINGTON, D.C. – The Corporation for National and Community Service (CNCS), the federal agency for volunteering and service, announced it will invest up to $13.3 million to support and maintain its Pay for Success (PFS) program made possible through the Social Innovation Fund (SIF).
Created in 2009, the SIF has grown into nearly a $1 billion social impact incubator within the federal government, creating more than 450 public-private partnerships that deliver high-impact, community-based solutions that work. This summer, the SIF opened three funding competitions. These include:
- 2016 Pay for Success Administrative Data Pilot Grant Competition
The competition will provide up to $4.5 million in grants for activities related to administrative data to develop high quality PFS projects. The goal of the Administrative Data Pilot competition is to support current PFS projects’ access to high-quality, less expensive data for evaluation purposes so they can improve the outcomes of social services. The deadline for applications has passed but successful applicants will be notified by September 20, 2016.
- 2016 SIF Pay for Success (PFS) Grants Competition
The competition will provide up to $7.3 million in grants to build the pipeline of "PFS-ready" governments and address the developmental needs of SIF PFS projects to increase the likelihood that they will launch. Overall, this will aid in advancing the emerging models that align payment for social services with verified social outcomes. The deadline for applications will be 5 p.m. EST on September 20, 2016. Successful applicants will receive grants of between $350,000 and $1.8 million per year for three years.
- U.S. Department of Veterans Affairs Veterans Employment PFS Project (VEPFS)
Through this competition, SIF has contributed $1.5 million in grants to the Department of Veterans Affairs to extend the work CNCS is doing to address the needs of veterans. This competition pairs SIF’s expertise on PFS with VA’s expertise on Veterans’ issues. The goal of VEPFS is to test the PFS model as a way to improve employment outcomes for veterans with service-connected disability post-traumatic stress disorder. The deadline for applications will be 11:59 p.m. EST on September 14, 2016.
In 2014, the SIF reinforced its commitment to support innovative solutions and change how public and private sector investors allocate philanthropic resources by launching its SIF PFS program. This $30-plus million grantmaking initiative was designed to help cities, states, and nonprofits develop PFS projects, which tie funding for social services to its true impact in the community.
Thus far, the Social Innovation Fund’s PFS program has awarded $18.1 million to eight private sector funders. These funders have, in turn, awarded more than $12.3 million to 65 organizations across 25 states and the District of Columbia. This investment has the potential to lead to nearly 100 Pay for Success models across the country.
Since its inception in 2009, the SIF and its private-sector partners have invested almost a billion dollars in compelling community solutions through its SIF Classic and SIF PFS programs. The SIF portfolio includes 46 awards to grantees who have selected over 458 nonprofit organizations to grow and further evaluate proven solutions to our nation’s challenges in 46 states and the District of Columbia. In total, as a result of $295 million in federal grants, more than $627 million in non-federal match commitments has been leveraged.