The Corporation for National and Community Service's (CNCS) Social Innovation Fund (SIF) today announced that CSH (Corporation for Supportive Housing) and seven other organizations received new fund investments to build healthier communities.
Unveiled at an event co-hosted by the U.S. National Advisory Board on Impact Investing, SIF, and the Beeck Center for Social Impact and Innovation at Georgetown University, the investments aim to advance and evaluate emerging models that align payment for social services and housing with verified results, also known as Pay for Success initiatives.
Pay for Success financing is designed to tackle persistent community challenges by partnering nonprofits and the public sector with philanthropic and private sector investors to create incentives for service providers to deliver better outcomes at lower cost--producing the highest return on taxpayer investments.
CSH will use our $750,000 award to build on seed funding provided by the Rockefeller Foundation and Robert Wood Johnson Foundation to explore the potential of Pay for Success as a tool to expand supportive housing. CSH will provide expert advice and guidance to help up to 12 communities across the country implement robust Pay for Success models to create more supportive housing, which offers affordable homes as platforms through which vulnerable people can access community-based services and stabilize their lives.
CSH is pleased to have the Center for Health Care Strategies and Third Sector Capital Partners as its collaborating partners for this award.
We are grateful for the recognition, and are eager to help build successful Pay for Success models in communities across the country.
It is exciting for us to see CNCS and SIF enhance the potential for productive, impactful partnerships in every corner of our nation. We believe Pay for Success will be a game changer in the way housing and services are developed and delivered in the supportive housing industry and other sectors for years to come.
Pay for Success also should strengthen bonds between federal agencies and local communities, and is a promising new lever changing public policy and services delivery for the better.
Supportive housing is consistently at the top of the list of effective interventions that can be brought to scale and fully realized through Pay for Success financing.
We look forward to guiding communities in the use of Pay for Success as an innovative vehicle for expanding the proven, data-driven solution that is supportive housing.