Pay for Success Grant Competition
Posted by Social Innovation Fund on June 30, 2014
SIF To Provide $11.2 Million in Pay For Success Funding
The Corporation for National and Community Service is pleased to announce the launch of the Social Innovation Fund Pay for Success Grant Competition.
The competition will provide $11.2 million in grants to help cities, states and nonprofits develop Pay for Success projects, where governments pay service providers only when there are demonstrated results. We are specifically providing grants for intermediary organizations to help determine feasibility, build capacity, or structure Pay for Success transactions.
Applicants are encouraged to send a letter of intent by July 15 and applications are due by July 31, 2014 at 5 p.m. EST. Visit our website to learn more about Pay For Success and please help us spread the word about this opportunity.
What is Pay for Success?
Pay for Success is an approach that partners private, public, and nonprofit sectors by aligning payments for social services with verified social outcomes. This allows the public sector to receive the highest return on taxpayer investments, since government funds are only paid to service providers who demonstrate success.
The Social Innovation Fund is about finding solutions that work and making them work for more people. The Pay for Success competition takes this mission to the next level—ensuring proven solutions have the dollars needed to scale, while cities and states with tightening budgets focus on solutions that work and only pay for results.
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