This paper provides an “overview of the SIB promise” before briefly describing the “first social impact bond in the United States — the Adolescent Behavioral Learning Experience (ABLE) program at Rikers Island jail in New York City.” It then “frames critical decisions and identifies central tensions in the design of a deal, including the unique requirements of due diligence in a SIB project. Then it walks through the steps involved in structuring a deal, showing how the tensions inherent in the SIB mechanism must be confronted. It concludes with thoughts about how to move beyond a series of ‘bespoke’ deals to effective, ongoing programs operating on a large scale, whether through sustained government funding or through the creation of functioning capital markets that afford a continuing role for private investors, especially philanthropies.”
This report is included in our list of TEN NOTABLE RESOURCES FOR PAY FOR SUCCESS.