
A new report written by Abt Associates on behalf of the
Corporation for National and Community Service (CNCS) provides descriptive profiles of the first six “pay for success” (PFS) projects currently being implemented in the United States. The report adds to an important—and growing—body of knowledge about the potential PFS holds in helping to address social challenges.
The report, entitled, “
State of the Pay for Success Field: Opportunities, Trends, and Recommendations” details each project’s target population, funding strategy, evaluation methodology, and outcome goals. It also explores emerging themes and recommendations for the PFS field, and takes a look at a number of emerging PFS initiatives across the U.S. in various states of exploration and development.
“The first domestic project launched in 2012, so pay for success and social impact bonds are still relatively new in this country,” said project director and Abt Senior Analyst Tyler Moazed. “This report illustrates the evolution and significant growth of the domestic pay for success field, and we’re excited to fully evaluate the implementation of the CNCS Social Innovation Fund Pay for Success Grants.”
PFS projects involve the infusion of private investments to support the operation of a public program, with investors earning a return only when specific, pre-determined outcomes are achieved. The first ever PFS project was launched in the United Kingdom in 2010. Currently, there are approximately 20 active PFS projects around the world, primarily in Western Europe and the U.S.
Learn more about PFS.
For more information about Abt’s PFS work: