Bringing Social Impact Bonds to New York City (2012)

Presentation at the Fall Institute 2012, Saint John, NB – October 14 – 16, 2012

This presentation offers an overview of a City of New York program aimed at reducing the rate of reoffending among young prison inmates, and funded through an investment vehicle called a social impact bond, which encourages private-sector funding for promising social programs.

The goal of Adolescent Behavioral Learning Experience (ABLE) is to improve decision-making, problem-solving, and self-control skills in order to decrease participants’ likelihood of future criminal behavior. The investment banking firm Goldman Sachs is investing almost $10 million to fund the program, with the investment structured as a loan to the non-profit organization leading the project.

The author explains that the public sector commits to paying the program contractor only if improved social outcomes, confirmed through third-party evaluation, are achieved.

The concept is relatively new and New York City will be the first city in the United States to implement this financing model.

The presentation was given during the Centre for Literacy’s Fall Institute 2012, held in Saint John, New Brunswick. The centre supports best practices and informed policy development in literacy and essential skills.

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2013-01-08
APA citation
Linda I. Gibbs. Bringing Social Impact Bonds to New York City 2012. Web. 18 Jan. 2021 <http://en.copian.ca/library/learning/fall_institute_2012/bringing_bonds_nyc/bringing_bonds_nyc.pdf>
Linda I. Gibbs (2012). Bringing Social Impact Bonds to New York City. Retrieved January 18, 2021, from http://en.copian.ca/library/learning/fall_institute_2012/bringing_bonds_nyc/bringing_bonds_nyc.pdf
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