On Wednesday, September 10th, Third Sector Capital Partners, Inc. and Ropes & Gray LLP, were named Boston Business Journal’s Partners of the Year. On an annual basis, the Boston Business Journal honors the connections between businesses and nonprofits in the region. Third Sector’s Managing Partner, John Grossman, and Ropes & Gray’s Partner, Winthrop Minot, accepted the award at the Boston Business Journal’s Annual Corporate Citizenship Summit held in Boston.
Ropes & Gray LLP is a global law firm with over 1,100 employees and has received numerous awards for its pro-bono services
Third Sector CEO George Overholser testified at the House Ways and Means Human Resources subcommittee hearing on September 9th. The hearing, titled “Social Impact Bonds: Can They Help Government Achieve Better Results for Families in Need?” included the participation and testimony from Pay for Success participants including service providers, service recipients, government partners and philanthropic funders. George’s testimony focused on the potential of Pay for Success contracting to help government allocate its resources more effectively and towards programs that truly work for families in need. Other participants noted several benefits
On June 26, 2014, the Corporation for National and Community Service (CNCS) announced a Notice of Funding Availability (Notice) of up to $11.2 million for the Social Innovation Fund (SIF) Pay for Success Grant Competition. The PFS competition is designed to examine when and how Pay for Success works best, strengthen and diversify the pipeline of state and local governments as well as nonprofit service providers that are ready to participate in PFS, attract much-needed capital to solutions that work, and collect and share knowledge about every step of the process.
Massachusetts PFS Project Brief and Lessons Learned
Third Sector is proud to share two publications detailing lessons learned and innovations from our role as project intermediary for the Massachusetts Juvenile Justice Pay for Success Initiative, the fourth Pay for Success project implemented in the United States and the largest Social Impact Financing raised to-date. We are well aware that the excitement around Pay for Success and Social Impact Financing far exceeds the actual practice of implementing these projects on the ground. We have written these two documents in order to help
Cuyahoga County Executive Ed FitzGerald announced that he will submit legislation to establish the nation’s first county-level Pay for Success program. County Councilman Dale Miller, District 2, will co-sponsor the legislation. The program has the potential to transform the way the County provides services for families who are both homeless and have children in foster care. The Pay for Success model will utilize private funding to pay for the program and only spend County taxpayer dollars to repay funders if the program is proven to be successful.
“With our state facing
