The Ventura County Project to Support Reentry is a collaborative Pay for Success (PFS) project between the County, Interface Children & Family Services, and Social Finance. Impact investors initially fund program costs and are repaid by Ventura County, if project outcomes are successfully achieved.
Through this public-private partnership, Interface Children & Family Services will serve 400 adults on formal probation in Ventura County, CA over four years. A customized program, Interface Reentry Services, will provide a suite of services focused on understanding and responding to each client’s individual needs for successful reentry.
Goals of the project
- Reduce recidivism, improve public safety, and promote family stability and economic opportunity for those on formal probation in Ventura County
- Expand high-quality services for a target population that is currently excluded from other funding sources
- Support the policy priorities of the California Board of State and Community Corrections and Ventura County to improve life outcomes for recently incarcerated men and women and strengthen local communities
How It Works
County of Ventura
Make payments if outcomes are achieved
Social Finance
Develop project, mobilize capital, manage for results
Interface Children & Family Services
Provide a customized suite of services
Program participants
Work toward successful reentry, with the support of Interface
University of California, Los Angeles
Measure outcomes
Impact Investors
Provide upfront capital
Key Resources
Partners
County of Ventura serves as payor for the project and will make up to $2.85 million in outcome payments.
Interface Children & Family Services will receive funding to deliver comprehensive reentry support services, including case management, Moral Reconation Therapy, and other evidence-based practices.
Social Finance supported the design, negotiation and financial structuring of the project and managed the capital raise. Social Finance will also coordinate performance management services for the duration of the project.
Dr. David Farabee of the University of California, Los Angeles will lead the evaluation of the project.
The Board of State and Community Corrections provided funding to use toward outcome payments.
Jones Day is serving as legal counsel to Social Finance in the Ventura County Project to Support Reentry.
Wilmington Trust is serving as fiscal agent and custodian for this project.
Funders
The project’s funders include:
- Reinvestment Fund
- Nonprofit Finance Fund
- Blue Shield of California Foundation
- The Whitney Museum of American Art
In the News
- “‘Government only pays for the positive outcomes.’ A strikingly new approach to social problems,” The Washington Post
- “‘Pay for Success’: An idea with bipartisan appeal,” Governing
- “Social Impact Bonds: Something Democrats and Republicans agree on,” Forbes
- “A new public finance tool to help the most vulnerable,” Time