Pay for Success: The First Generation

Explore a new report by Nonprofit Finance Fund, Pay for Success: The First Generation, a comparative analysis of the first 10 Pay for Success projects in the United States. A short video introduction accompanies the report.

Pay for Success U.S. Activity Map

For an up to date view of Pay for Success activity in the United States, from Requests for Information and Proposals, to proposed legislation and feasibility studies,explore the Pay for Success Activity Map.


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Nonprofit Finance Fund
Martin Lenarz-Geisen
Pay for Success Round-Up: Third Quarter 2016
by Martin Lenarz-Geisen (10/25/2016)
Annie Chang

NFF's Work in Pay For Success

Nonprofit Finance Fund (NFF) serves as significant contributor and trusted advisor to service providers, government, and other stakeholders exploring Pay for Success (PFS) financing. Since 2010, we have led outreach efforts to multiple stakeholders and acted as pre-transaction advisor to a wide variety of parties pursuing a PFS model.  We have supported government agencies (HUD, DOL, DOJ and OMB) as they have advanced PFS projects, and served as trainer and advisor to local governments and nonprofits looking to participate in PFS and outcomes-based finance more generally.  Our work in this field is generously supported by The Social Innovation FundThe Laura and John Arnold FoundationThe Rockefeller Foundation,The William and Flora Hewlett FoundationThe Joyce Foundation, and The James Irvine Foundation

NFF serves mission-driven organizations with tailored investments, strategic advice and accessible insights. As a Community Development Financial Institution (CDFI) intermediary and trusted advisor in the social sector for 33 years, NFF has partnered with a wide range of public and private providers of capital to develop and implement innovative and effective ways to increase the flow of capital to a chronically undercapitalized social sector. Throughout this time, we have also worked closely with the providers of services to empower them with the skills and capacity necessary to convert capital into meaningful, positive outcomes for the individuals, families and communities that they serve.

Please click here for more information on NFF and our work in the PFS arena.