New Profit
For Third Sector Capital Partners
-
Amount$150,000
-
Program
-
Date Awarded7/23/2013
-
Term12 Months
-
Type of SupportProject
Strategies
Overview
Third Sector Capital Partners was founded to support the development of the pay-for-success financing market for social benefit programs. Third Sector serves both nonprofits and government agencies working to implement a social impact bond or similar financing mechanism. In particular, Third Sector nimbly plays multiple roles in the marketplace—from serving as the intermediary between the parties, to conducting SIB readiness assessments, to advising parties interested in setting up pay-for-success programs. In 2012, Third Sector became the first intermediary in the nation to successfully implement a SIB pilot program, a pay-for-success program in Massachusetts with nonprofit partner ROCA Inc. focused on reducing the rates of juvenile recidivism. Third Sector is gaining recognition as a strong—perhaps the strongest—thought leader and implementer in the pay-for-success space.
About the Grantee
Grantee Website
newprofit.com/cgi-bin/iowa/home/index.html
Address
225 Franklin Street Suite 350, Boston, MA, 02110, United States
Grants to this Grantee
for support of Civic Lab
New Profit’s Civic Lab is a national initiative to support innovative democracy organizations led by proximate democracy entrepreneurs that are building civic trust and a strong civic culture in America. Through Civic Lab, New Profit will provide one-year unrestricted grants of $50,000 to $100,000 alongside strategic capacity-building support to help democracy entrepreneurs grow and increase the impact of their organizations, while also collectively contributing to the renewal of civic culture and inclusive democracy in America.
for Third Sector Capital Partners
Third Sector Capital Partners was founded to support the development of the pay-for-success financing market for social benefit programs. Third Sector serves both nonprofits and government agencies working to implement a social impact bond or similar financing mechanism. In particular, Third Sector nimbly plays multiple roles in the marketplace—from serving as the intermediary between the parties, to conducting SIB readiness assessments, to advising parties interested in setting up pay-for-success programs. In 2012, Third Sector became the first intermediary in the nation to successfully implement a SIB pilot program, a pay-for-success program in Massachusetts with nonprofit partner ROCA Inc. focused on reducing the rates of juvenile recidivism. Third Sector is gaining recognition as a strong—perhaps the strongest—thought leader and implementer in the pay-for-success space.
for support of Civic Lab
New Profit’s Civic Lab is a national initiative to support innovative democracy organizations led by proximate democracy entrepreneurs that are building civic trust and a strong civic culture in America. Through Civic Lab, New Profit will provide one-year unrestricted grants of $50,000 to $100,000 alongside strategic capacity-building support to help democracy entrepreneurs grow and increase the impact of their organizations, while also collectively contributing to the renewal of civic culture and inclusive democracy in America.
