Social Finance partners with governments, nonprofits, foundations, impact investors, and financial institutions to create innovative financing solutions to improve social outcomes. In the Pay for Success and Social Impact Bond market, our Advisory Services, Social Investment, and Active Performance Management teams support all phases of work, tailored to the needs of our partners. We are focused on developing a strong Pay for Success field through market education, publications, events, research and analysis.

Our Pay for Success Services


Our Work

Increasing Employment and Improving Public Safety in New York State

This Pay for Success project expands a comprehensive employment intervention to a target of 2,000 formerly incarcerated individuals in New York with the goals of increasing employment, reducing re-incarceration, and improving public safety. The project deploys $13.5 million over a 5.5-year project period to expand the work of Center for Employment Opportunities (CEO), a world-class provider of evidence-based training and employment programs to recently incarcerated individuals in New York State. This was the first Pay for Success offering distributed to impact investors via a leading wealth management platform (Bank of America Merrill Lynch). Social Finance developed and structured the project, including service provider solution, contract development, and supporting the capital raise. Since services launched in December 2013, we have provided active performance management and investor relations.

South Carolina Nurse-Family Partnership Pay for Success

In February 2016, South Carolina Governor Nikki Haley, Nurse-Family Partnership, Social Finance, and a group of philanthropic funders announced the nation’s first Pay for Success project focused on improving health outcomes for mothers and children living in poverty. This Pay for Success initiative will expand Nurse-Family Partnership, an evidence-based home-visiting program that pairs vulnerable first-time mothers with specially trained nurses to support healthy pregnancies and positive child development. This project will expand services to 3,200 first-time, low-income mothers across the state over the next six years– making it the first statewide Pay for Success initiative in the country.

National Partnership with Nurse-Family Partnership

In addition to our launched project in South Carolina, Social Finance and Nurse-Family Partnership’s National Service Office work together to expand Nurse-Family Partnership’s home visiting services for low income, first-time mothers throughout the country. Currently, the two organizations are developing and exploring Pay for Success projects in multiple jurisdictions throughout the United States.

Connecticut Family Stability

Social Finance is developing a Family Stability Pay for Success project in partnership with Family Based Recovery to encourage family permanence by reducing adult substance use and helping families to develop healthy relationships. In February 2016, Connecticut Governor Dannel Malloy, Department of Children and Families Commissioner Joette Katz, and Social Finance were joined by White House officials to announce an executed Pay for Success contract for this project. Social Finance is now raising capital for the project, which is expected to launch services later this year.

Reducing Pediatric Asthma in Baltimore

In partnership with the Green and Healthy Homes Initiative, Social Finance is developing a Pay for Success project to improve asthma management for low-income children in Baltimore City and County.

Expanding Access to Adult Basic Education in Massachusetts

Social Finance is partnering with Jewish Vocational Services on a Pay for Success project to increase Adult Basic Education opportunities in Greater Boston.

W.K. Kellogg Foundation Grantees

Social Finance partnered with the W.K. Kellogg Foundation to provide four of its early childhood and family economic security grantees with rigorous economic and strategic analysis to better articulate the value they generate for society, both economic and more broadly for participants and the community. As part of this effort, Social Finance worked with Family Independence Initiative, the Center for Urban Families, Home Instruction for Parents of Preschool Youngsters (HIPPY) and AVANCE.

Social Impact Bond Opportunities in Memphis and Shelby County

Social Finance assessed Pay for Success and Social Impact Bond opportunities in home visiting, prekindergarten education, blight, teacher training and recidivism in Memphis and Shelby County, TN.

Roadmap for Pay for Success in Philadelphia

Working with the office of Philadelphia Mayor Michael Nutter, Social Finance explored the feasibility of improving recidivism and child welfare outcomes through a Pay for Success transaction.

Improving Outcomes for Veterans

Social Finance partnered with Bank of America Merrill Lynch to assess the feasibility of Pay for Success and Social Impact Bonds to serve US veterans, and explored opportunities in workforce development, wellness, and housing.

Improving Maternal and Child Health in Newark

With support from the Robert Wood Johnson Foundation and the MCJ Amelior Foundation, Social Finance explored the feasibility of improving maternal and child health outcomes through Pay for Success and Social Impact Bonds in Newark, NJ.

California Pay for Success Initiative

The James Irvine Foundation and Nonprofit Finance Fund supported Social Finance and our partners – Nurse-Family Partnership in the Bay Area and Orange County, and REDF and the Center for Employment Opportunities in San Diego – to explore Pay for Success opportunities in California.

Nurse-Family Partnership in Austin-Travis County

With support from the United Way of Greater Austin, Social Finance led a feasibility study to assess opportunities for expanding Nurse-Family Partnership's home visiting services in Austin-Travis County through Pay for Success.

Asthma Impact Model for Fresno

Social Finance is implementing a demonstration project in Fresno, CA to collect evidence on the social and economic value of asthma management for low-income children.