Social Finance’s Tracy Palandjian and Jeff Shumway respond in Stanford Social Innovation Review’s Up for Debate section to “The Payoff of Pay-for-Success,” by V. Kasturi Rangan and Lisa A. Chase. In their response, they address common misconceptions of Pay for Success (PFS), including the idea that governments are primarily interested in PFS projects to save money. Ultimately, PFS is a cross-sector collaboration that weaves together government accountability, scaling effective nonprofits, and impact investing with the aim of achieving measurable and meaningful progress against society’s greatest challenges.
Pay for Success is a cross-sector collaboration that weaves together three important social-sector movements: government accountability, scaling effective nonprofits, and impact investing.
An Introduction to Pay For Success
Pay for Success is a set of innovative outcomes-based financing and funding tools that directly and measurably improve lives by driving resources toward results. Watch this video overview.
After Pay for Success: Doubling Down on What Works
This Stanford Social Innovation Review article discusses how the federal government, state governments, the philanthropic sector, and evaluators should combine their efforts to aid in the transition from PFS to performance-based contracts.