Transcript - SIBling Revelry: Are Social Impact Bonds the Next Big Thing?

SIBling Revelry




Wednesday, January 16 - 12:00 to 2:00 p.m.
Hudson Institute - Betsy and Walter Stern Conference Center
1015 15th Street, NW - Suite 600
Washington, DC 20005

Event Description

According 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.

Please join us on January 16th to discuss the potential of SIBs and the concerns that they raise. Our distinguished panel will include 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 will moderate the discussion. Lunch will be served.

Required Reading