January 16, 2013, 12:00 - 2:00 PM - Hudson Institute, Washington, D.C. Headquarters
Event DescriptionAccording to a recent report by the McKinsey & Company, Social Impact Bonds (SIBs) represent “a new approach for expanding social programs. It is a partnership in which philanthropic funders and impact investors—not governments—take on the financial risk for scaling up. Nonprofits deliver the program; the government only pays if the program succeeds.” The current financial crisis has led officials in several cash-strapped cities and states to launch SIBs to address issues as diverse as juvenile recidivism and homelessness.
While enthusiasm for Social Impact Bonds has grown rapidly, it will still be several years before results from the first SIB at HMP Peterborough prison in the UK are available. In addition, concerns have been raised in the nonprofit community about introducing the profit motive into programs the aid our society’s most vulnerable populations.
On January 16th we gathered to discuss the potential of SIBs and the concerns that they raise. Our distinguished panel included Nirav Shah, Director of Social Finance US; Jon Pratt from the Minnesota Council of Nonprofits; Partner in The Bridgespan Group’s San Francisco Office Daniel Stid; and Vice President of the Urban Investment Group at Goldman Sachs Andrea Phillips. Hudson Institute Senior Fellow William Schambra moderated the discussion.
Required ReadingDaniel Stid, "Confessions of a Social Impact Bond Skeptic," The Bridgespan Group, June 2012.
Jon Pratt, "Social Impact Bonds: A Conversation with Simon Jawitz," Nonprofit Quarterly, November 30, 2011.
McKinsey & Company: Social Impact Bond information portal
Program and Panel11:30 a.m.
Registration, lunch buffet
Introduction by Bradley Center Director William Schambra
Andrea Phillips, Vice President of the Urban Investment Group at Goldman Sachs
Jon Pratt, Executive Director of the Minnesota Council of Nonprofits
Nirav Shah, Director of Social Finance US
Daniel Stid, Partner in The Bridgespan Group’s San Francisco Office
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