At New Profit, our efforts to explore and expand Pay for Success are ongoing. That’s why we’re excited to announce that Third Sector Capital Partners, our partners and leading Pay for Success advisory firm, has announced five winners of their national Pay for Success competition. This is the second cohort of awardees, following the winners of last year. The awardees listed below will receive technical assistance to develop national models for Pay for Performance contracting in the area of youth workforce development.
- Austin, TX – Workforce Solutions Capital Area will explore how P4P can improve education and employment outcomes for Opportunity Youth through the Back on Track Through College model.
- Boston, MA – The Economic Development & Industrial Corporation of Boston/Office of Workforce Development will explore how P4P can build upon current achievements in financial literacy and job readiness for youth through its Summer Youth Employment Program.
- Denver, CO – The Denver Office of Economic Development will explore how P4P can improve outcomes for youth facing workforce barriers such as homelessness, involvement with foster care or justice systems, or disabilities. These include education and employment outcomes and increased self-sufficiency
- Northern Virginia – The SkillSource Group, Inc., the nonprofit entity of the Northern Virginia Workforce Development Board, will explore how P4P can improve outcomes in educational attainment, sustainable employment and criminal behavior for youth involved in the foster care and juvenile justice systems.
- San Diego, CA – The San Diego Workforce Partnership will explore how P4P can improve education, employment, and recidivism outcomes for youth involved in the foster care or justice systems, and is willing to stand as a model to other California counties interested in developing performance-based contracts.
America Forward, our nonpartisan policy arm, is partnering with Third Sector on this effort working on field engagement efforts, including sharing the lessons learned from the awardees. In addition, Third Sector has partnered with Abt Associates, National Association of Counties, and National League of Cities to support the competition and offer expertise to government and nonprofit applicants.
For the full Third Sector press release, click here.
Third Sector Capital Partners, Inc.
Third Sector leads governments, high-performing nonprofits, and private funders in building evidence-based initiatives that address society’s most persistent challenges. As experts in innovative public-private contracting and financing strategies, Third Sector is an architect and builder of the nation’s most promising Pay for Success projects including those in Commonwealth of Massachusetts, Cuyahoga County, Ohio, and Santa Clara County, California. These projects are rewriting the book on how governments contract for social services: funding programs that work to measurably improve the lives of people most in need while saving taxpayer dollars. A 501(c)(3) nonprofit based in Boston and San Francisco, Third Sector is supported through philanthropic and government sources, including a grant from the Corporation for National and Community Service’s Social Innovation Fund.
America Forward is a national non-partisan policy initiative, spearheaded by the nonprofit social innovation organization and venture philanthropy fund New Profit, Inc. We unite national policymakers with innovators who lead high-impact and results-driven organizations, to advance a public policy agenda that champions innovative and effective solutions to our country’s most pressing social problems.
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