Treasury recently released a Notice of Funding Availability for Results Act funds for outcome payments. Applications are due May 22, 2019.
The Social Impact Partnerships to Pay for Results Act (the Results Act) was enacted as part of the Bipartisan Budget Bill of 2018. The Results Act appropriates $100 million to support the launch of state and local Pay for Success initiatives over a 10-year period. Overseen by the U.S. Department of Treasury, the Results Act Notice of Funding Availability (NOFA) was released in February 2019 for state and local governments to apply for up to $66.3M in outcomes funding.
The Results Act presents an opportunity for state and local governments to leverage federal funding to tangibly advance their policy objectives, deliver measurable results for individuals and communities in need, and catalyze the incorporation of outcomes-driven practices into funding and contracting decisions.
Results Act Resources
- Quick Facts: Results Act NOFA — Overview of the Results Act Notice of Funding Availability (NOFA)
- Results Act Notice of Funding Availability — Request for Proposals for State and local governments
- Results Act Fact Sheet — Flyer about the Results Act and Pay for Success
- Social Impact Partnerships to Pay for Results Act — Text of the Results Act legislation
- Frequently Asked Questions — U.S. Treasury FAQ
- Improving Outcomes for Children and Families through Pay for Success — Blog by Theresa Doherty, Associate at Social Finance
- Launching the Results Act Incubator — Blog by Danielle Charpentier, Associate at Social Finance
- SIPPRA Convening Looks to the Future of Pay for Success — Blog by Anna Fogel, Director at Social Finance
Results Act Funding
The majority of Results Act funds has been allocated to support outcome payments. $66.3M of the up to $75M expected is available under the current NOFA.
Up to $15 M of Results Act funds has been allocated to support evaluation costs for Pay for Success projects; $10M of this is available under the current NOFA.
Another $10 M of Results Act funds is dedicated to supporting Pay for Success feasibility, though Results Acts support can only account for 50% of feasibility funding.
The Results Act outlines twenty priority outcomes across the spectrum of focus areas and target populations, including workforce development, health, education, criminal justice, veterans’ employment and well-being, and children and families – in fact, 50% of outcomes funding granted under the Results Act must be used for initiatives that directly benefit children.
Please contact us at SIPPRA@socialfinance.org to learn more.
What is Pay for Success?
Pay for Success aims to measurably improve the lives of people most in need by driving resources toward better, more effective programs.
At its core, Pay for Success is a public-private partnership which funds effective social services through a performance-based contract. Pay for Success projects enable federal, state, and local governments to partner with high-performing service providers by tapping private investments to expand effective programs.
If, following an independent evaluation, the program achieves predetermined outcomes that benefit society and generate value for government, then government will make outcomes payments to investors. However, the government pays only at the level of outcomes achieved.
Spotlight: Children and Families
Decades of research has demonstrated the importance of stable home and family environments for healthy physical, cognitive, and social and emotional child development. Supporting parental mental and physical health and economic stability will help strengthen families and give children a better start from the very beginning.
Have questions on the Results Act?
Contact us at SIPPRA@socialfinance.org, or at (617) 939-9900.
A Landmark Moment for Pay for Success
“SIPPRA represents an enormous opportunity to more deeply embed Pay for Success in our governmental infrastructure, better providing critical services to those in need and accelerating systems-level change.”
– Tracy Palandjian and Matt Bannick
Our CEO, Tracy Palandjian, and Managing Director at Omidyar Network, Matt Bannick, wrote a blog about the historic importance of the Social Impact Partnerships Pay for Results Act and the opportunity it presents to nurture a performance-based mindset in state and local governments nationwide. Read more in A Landmark Moment for Pay for Success.