On October 3th, our sister organization Social Finance US launched the Veterans CARE Project: a $5.1 million Social Impact Bond, aimed to improve the lives of 480 veteran in New York, Boston and Massachusetts. The participants of the project are delivered IPS (Individual Placement and Support), a personalized approach to supported employment.
The project measures four outcomes: earnings, sustained competitive employment,
fidelity to the IPS model, and job satisfaction. The outcome payors will repay the investors if the project successfully achieves positive outcomes for participants.
The SIB partners include:
– The U.S. Department of Veterans Affairs provided $3 million in outcomes payments for
– The Commonwealth of Massachusetts and the City of Boston serve as matching
outcomes payors for this project.
– The Tuscaloosa VA Medical Center will support local VA medical centers to offer
Individual Placement and Support, an evidence-based employment service, for Veterans
Social Finance supported the design and financial structuring of the project, raised the
capital, and will provide active performance management services for the duration of the
The investors, among which: BNP Paribas, Northern Trust, The Dakota Foundation,
Deutsche Bank en de Robin Hood Foundation.
Find out more about the Veterans CARE project on the website of Social Finance US: