Pay for Success Resources
Pay for Success (PFS) is a public-private financing mechanism designed to improve social outcomes for at-risk populations.
PFS projects have been used at varying scale in communities across the country to address social challenges such as lowering recidivism, ending chronic homelessness, unifying homeless parents with their children who are in the foster care system, and improving elementary school preparedness. The PFS model first launched in the United Kingdom in 2010.
In a PFS project, private and/or philanthropic capital is used to finance a social intervention for a targeted population. If the intervention successfully meets agreed-upon outcomes, then an “end-payor” (typically a government agency) provides repayment to the initial investors, usually with a modest return. PFS project terms range depending on the specific intervention and stakeholders involved, but PFS projects typically last for at least 5 years. Enterprise is a partner in two currently operating Pay for Success projects, both of which center on providing housing and social service delivery to homeless individuals or families.
- Pay for Success 101: New to Pay for Success? Seeking to understand the tool in greater detail? Pay for Success 101 is an overview of the challenges PFS seeks to address, an introduction to the key players and roles critical to any successful transaction, and potential opportunities for your organization to participate in.
- Lessons from the field: Enterprise works with private and public sector entities to accelerate the growth of the PFS field. Pay for Success: A Webinar for Community Development Financial Institutions provides an introduction to the various ways Enterprise and our partners have influenced the field to date. (Webinar orginally aired August 31, 2015)
- Download the paper "Scaling and Sustaining Pay for Success: Recommendations for Creating a More Sustainable and Scalable Financing Model" by Benjamin Nichols and Caroline Wagner. This paper presents recommendations for making Pay for Success a more sustainable and scalable financing model for the long-term. It takes applies lessons learned from Enterprise’s two launched Pay for Success projects in Denver, CO and Cuyahoga County, OH.
- The Partnering for Family Success Program is five-year, $5 million project in Cuyahoga County, Ohio. The Ohio Market serves as Enterprise's lead for this project.
- The Housing to Health Initiative is a five-year, $8.7M project providing housing to chronically homeless individuals in Denver, CO. The Denver Market serves as Enterprise's lead for this project.