Source Business Directory
MEDIA, JOBS & RESOURCES for the COMMON GOOD
NEWS  |  Finance, Social Innovation

Investor Return On Social Benefit Bond


Tuesday, 19th August 2014 at 9:44 am
Lina Caneva, Editor
Australia’s first social benefit bond will deliver a return of 7.5 per cent to investors this year, a certification by auditor Deloitte has shown.

Tuesday, 19th August 2014
at 9:44 am
Lina Caneva, Editor


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Investor Return On Social Benefit Bond
Tuesday, 19th August 2014 at 9:44 am

Australia’s first social benefit bond will deliver a return of 7.5 per cent to investors this year, a certification by auditor Deloitte has shown.

The Newpin Bond, a pilot program designed to test the effectiveness of social benefit bonds in the Australian context, is focussed on out-of-home care for children.

The Bond is a performance contract between the NSW Government and provider, UnitingCare Burnside. It was given the tick of approval by the NSW Government in February this year.

NSW Treasurer Andrew Constance said that the first year results of the Bond were “encouraging”.

The Newpin program attempts to return children to their families from out-of-home care, or prevent them from initially entering care by funding an intensive 12 to 18 month course for mothers and fathers.

Director of UnitingCare Children, Young People and Families, Claerwen Little, said the Bond has improved the quality of the organisation’s work.

“We now work with a much higher share of families who have at least one child in care but we support them to systematically work through their own trauma and rebuild the bonds between parents and children,” Little said.

“The Newpin ‘Restoration’ model, which has developed as a result of the Social Benefit Bond, means that an increasing number of New South Wales children will be able to grow up with their birth families, within a safe and nurturing home.”

Little said that the program has implemented strong outcome targets and performance measures guiding returns to investors.

Not for Profit organisation, Social Ventures Australia, raised the $7 million required for the Bond in July last year.

Social Ventures Australia Executive Director Ian Learmonth said that it was “encouraging” to see the Bond deliver an attractive return in its first year.

“Tying funding to specific and measurable outcome targets has seen a new rigour embedded in the way this program is run and its ability to demonstrate the impact it’s having in the community,” Learmonth said.

“This is an exciting forward step for all of us concerned with large scale, meaningful social change.”


Lina Caneva  |  Editor  |  @ProBonoNews

Lina Caneva has been a journalist for more than 35 years, and Editor of Pro Bono Australia News since it was founded in 2000.


Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au


Write a Reply or Comment

Your email address will not be published. Required fields are marked *



YOU MAY ALSO LIKE

Investment Portfolio for a Not for Profit

Simon Hopkins

Tuesday, 3rd July 2018 at 8:28 am

HESTA Commits $40 Million to Australia’s Impact Investment Market

Luke Michael

Friday, 8th June 2018 at 5:07 pm

Economist Says Raising Welfare Should be a Top Budget Priority

Luke Michael

Wednesday, 2nd May 2018 at 2:47 pm

POPULAR

Australia Gets First Blockchain Charity

Wendy Williams

Wednesday, 4th July 2018 at 5:07 pm

Next-Gen Indigenous Leader Addresses UN Human Rights Council

Paul Carter

Wednesday, 4th July 2018 at 3:21 pm

Man Battling Cancer and Centrelink Raises Social Media Storm

Paul Carter

Tuesday, 10th July 2018 at 12:42 pm

New Research Looks to Improve Disability Employment Rate

Luke Michael

Monday, 9th July 2018 at 2:35 pm

Source Business Directory
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!