The Corporation for National and Community Service (CNCS) and the Social Innovation Fund (SIF) have selected CSH (Corporation for Supportive Housing) as a 2014 Social Innovation Fund Pay for Success grantee. In the announcement of the $750,000 award, CSH is cited for an innovative proposal, our track record of success and our administrative capacity.
Pay for Success financing is designed to tackle persistent community challenges by partnering nonprofits and the public sector with philanthropic and private sector investors to create incentives for service providers to deliver better outcomes at lower cost—producing the highest return on taxpayer investments.
Pay for Success also should strengthen bonds between federal agencies and local communities, and serves as a promising new lever inclusive partnerships can pull to change public policy and systems-services delivery for the better. Supportive housing is consistently at the top of the list of effective interventions that can be brought to scale and fully realized through Pay for Success financing. As the leader in the supportive housing industry, CSH has the experience to guide Pay for Success as an innovative vehicle for expanding a proven, data-driven solution.
CSH will use the CNCS-SIF award to build on seed funding provided by the Rockefeller Foundation and Robert Wood Johnson Foundation, and provide expert advice and guidance to help up to 12 communities across the country implement robust Pay for Success financed supportive housing. CSH is pleased to have the Center for Health Care Strategies and Third Sector Capital Partners as its collaborating partners for this award. In the next several months, CSH will hold its first open competition planned as part of this award to select an estimated 4-5 government and nonprofit organizations that will receive a customized package of technical assistance to build their capacity to pursue PFS pilots.
Read our press release on today's announcement.
Find out more about our Social Impact Investment work across the country.
Read Deb's latest Huffington Post Blog on Pay for Success.