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New Financing Tool for Social Programs Opens Doors for Juvenile Justice

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Identifying the best programs for solving serious social problems is challenging for governments in the best of times, and all the more so in a constrained fiscal environment where every dollar must count. This is particularly true in areas like juvenile justice where the most effective interventions may involve combining approaches that governments currently support through separate funding streams—and where politicians’ personal views may steer disproportionate amounts of funds to programs that sound good on paper but don’t deliver results.

But an innovative new financing tool called Social Impact Bonds may help solve some of these challenges. Social Impact Bonds, or SIBs, take traditional government funding structures and turn them on their head. Instead of paying costs upfront for a prescribed set of services, SIBs allow governments to define outcomes they want to achieve—and not pay a dime if those goals are not met.

Read more here.

This article was originally published in Reclaiming Futures.

To speak with our experts on this topic, please contact:

Print: Allison Preiss (economy, education, poverty)
202.478.6331 or apreiss@americanprogress.org

Print: Tom Caiazza (foreign policy, health care, energy and environment, LGBT issues, gun-violence prevention)
202.481.7141 or tcaiazza@americanprogress.org

Print: Chelsea Kiene (women's issues, Legal Progress, Half in Ten Education Fund)
202.478.5328 or ckiene@americanprogress.org

Spanish-language and ethnic media: Tanya Arditi
202.741.6258 or tarditi@americanprogress.org

TV: Rachel Rosen
202.483.2675 or rrosen@americanprogress.org

Radio: Chelsea Kiene
202.478.5328 or ckiene@americanprogress.org

 

This is part of a special series: Social Impact Bonds

For more from this series, click here