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By George Overholser Eight years ago, I pitched the Pay for Success concept as a new kind of a money back guarantee. Government would pay for a social service, impact would be rigorously measured, and if impact fell short, government would get its money back. Think of it as impact insurance, or a Social Impact [...]

2012 has been an extraordinary year for Third Sector Capital Partners and the field of Social Innovation Finance, one that will be remembered for its many firsts. Pay for Success and Social Impact Bonds have gained worldwide attention and are quickly taking root across the United States, with several tangible pilots under development.

We offer a huge thank you to every member of this growing community, each of whom has helped accelerate America’s transition to a performance-based social sector.

2012: A Year of Firsts

New York City launched the nation’s first Pay for