Guide to Giving
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  |  Good Business

Australia’s First Social Benefit Bond Going Strong


Monday, 15th August 2016 at 3:49 pm
Ellie Cooper, Journalist
Australia’s first social benefit bond Newpin has reported positive results for the third year in a row, restoring 130 children in care to their families and preventing 47 children from entering the system.

Monday, 15th August 2016
at 3:49 pm
Ellie Cooper, Journalist


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Australia’s First Social Benefit Bond Going Strong
Monday, 15th August 2016 at 3:49 pm

Australia’s first social benefit bond Newpin has reported positive results for the third year in a row, restoring 130 children in care to their families and preventing 47 children from entering the system.

holding hands mum child

This year the number of children returned to their families was almost double the bond’s second year results.  

The Newpin bond is a financial partnership between the NSW Government, Not for Profit Uniting, and Social Ventures Australia (SVA).

SVA raised $7 million from investors to run the seven-year program that works with parents who have had their children removed from their care, or whose children are at risk of removal.

“Newpin’s success reflects the experience and the expertise of the highly professional team that Uniting has at a growing number of Newpin centres around New South Wales,” SVA’s executive director of impact investing Ian Learmonth told Pro Bono Australia News.

“It also reflects the advantage of having seen a pre-existing program which informed expected outcomes and was helpful in how we set up the investment structure of the SBB itself.”

The bond will also pay a return to investors of 12.15 per cent per annum, up from 8.9 per cent in the second year and from 7.5 per cent in the first.

Learmonth said Newpin’s success was “very encouraging” for impact investing more broadly.

“It shows that you can combine positive social outcomes with a reasonable financial return, and that those two objectives can sit side by side,” he said.

“Investors will no doubt be encouraged by the financial returns, of course, of the Newpin SBB over the first three years, and it will be helpful in raising capital for bonds in the near future – there are a number of those that are underway at varying stages across the country.”

He also said the social outcomes were strong compared to the control group estimates.

“Under the Newpin program, the control group, or counterfactual, for the first three years was an assumed 25 per cent restoration for families who were not on the program – ie that 25 per cent of children would have been expected to be returned to their parents without the intervention of a program such as Newpin,” he said.  

“Whereas here, the restoration success has been, across the board, at 60.7 per cent, so more than twice as successful as the counterfactual which is very pleasing.”

Uniting’s children’s advocate Claerwen Little said with the right support, innovative approaches could achieve positive results for families.

“Newpin equips parents with an understanding of their children’s emotional, physical and educational needs and of how their own behaviours impact their children,” Little said.  

“It takes hard work and commitment from parents to overcome their challenges, most often stemming from their own early experiences of trauma and abuse.”


Ellie Cooper  |  Journalist |  @ProBonoNews

Ellie Cooper is a journalist covering the social sector.

Guide to Giving

FEATURED SUPPLIERS


...


HLB Mann Judd is a specialist Accounting and Advisory firm t...

HLB Mann Judd

Helping the helpers fund their mission…...

FrontStream Pty Ltd (FrontStream AsiaPacific)

NGO Recruitment is Australia’s not-for-profit sector recru...

NGO Recruitment

More Suppliers

Get more stories like this

FREE SOCIAL
SECTOR NEWS

YOU MAY ALSO LIKE

Australian Organisations Score in the Top 10 Per Cent of B Corps Globally

Luke Michael

Monday, 18th September 2017 at 5:03 pm

New CEO to Lead TDi into Next Phase as Bessi Graham Stands Down

Wendy Williams

Friday, 15th September 2017 at 9:46 am

Australian Companies Recognised for Changing the World

Luke Michael

Wednesday, 13th September 2017 at 5:02 pm

A For Good Farming Adventure

Wendy Williams

Wednesday, 6th September 2017 at 8:54 am

POPULAR

New Study Warns NFPs Need Strong Culture and Profits to Survive

Luke Michael

Tuesday, 5th September 2017 at 12:02 pm

Moves to Stop Volunteering at Overseas Orphanages

Luke Michael

Wednesday, 13th September 2017 at 1:54 pm

Peak Body Demands Action to Stop NDIS Leaving Aboriginal People Behind

Wendy Williams

Tuesday, 5th September 2017 at 8:37 am

Future Uncertain for Disability Organisations Following Funding Cuts

Wendy Williams

Tuesday, 19th September 2017 at 8:29 am

Write a Reply or Comment

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


Guide to Giving
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!