Nonprofit Finance Fund (NFF), in partnership with the Corporation for National & Community Service (CNCS) Social Innovation Fund (SIF), and with support from the Laura and John Arnold Foundation, is awarding a total of $4,320,000 in 2015-17 to support Pay for Success (PFS) transaction structuring efforts across the United States. Pay for Success is an innovative funding model that drives resources toward social programs that provide measurable results to the people who need them most. Through a series of open grant competitions, NFF is providing funding to governments, service providers and transaction coordinators - third-party partners that facilitate capital raising, contract negotiation, and stakeholder engagement - that are working to structure and launch Pay for Success projects.
NFF has made awards supporting efforts to improve education, employment, housing and health in communities across the country. These projects have been selected based on their ability to deliver positive social outcomes and serve as replicable models for the use of PFS to accelerate adoption of promising approaches to effecting social change.
On September 1, 2016 NFF announced a request for proposals for a fourth round of funding. NFF is accepting applications on a rolling basis through February 1, 2017. All application materials and deadlines can be found by clicking on the Download Materials link above.
For more information about this initiative, or if you are interested in providing support to leaders pursuing Pay for Success projects and receiving awards under this initiative, please contact SIFPFS@nff.org.
Initiative Objectives: Nonprofit Finance Fund (NFF) envisions a world where capital and expertise come together to build a more just and vibrant society. There is insufficient public funding to meet rising demand for social services. We need to increase the amount of money flowing to the social sector and improve funding structures so that we can provide meaningful outcomes for communities in need. We believe Pay for Success approaches have the potential to play a role in this broader movement to improve how we achieve, and pay for, positive social change.
We have two objectives for this initiative:
Primary Objective: To fund the exploration of innovative and diverse PFS funding strategies and expand the PFS market, in alignment with the Social Innovation Fund goals. NFF will hold multiple, open competitions to select approximately six sub-grantees each year. Funding will advance a cohort of promising, high-quality PFS approaches that can in turn create a significant social benefit.
Secondary Objective: To broaden and strengthen the PFS field by openly sharing knowledge, resources, and lessons learned. NFF aims to make PFS more accessible to a broad universe of government and social sector leaders, equipping them with the resources developed by existing participants and providing tools that will encourage new entrants in the PFS field.