Impact Bond: COMPASS Social Impact Bond
Stage of development: Implementation
Jurisdiction: AU
Policy sector: Child and family welfare
Social challenge: Young people leaving care are more likely to be homeless, unemployed, suffer mental health concerns or be involved in the criminal justice system, compared to other young people
Intervention: COMPASS helps young people successfully transition from Out of Home Care (OOHC) and set them on a positive path to independence.
Date outcomes contract signed: 2018-02
Start of service provision: 2018-10
Anticipated end of service provision: 2023-09
Anticipated completion date: 2025-09
Total investment commitment currency: AUD
Total investment commitment (max): 14200000
Target population: Young people between the ages of 16.5-18.5 who are in: 1. Out of Home Care; 2. Foster care; 3. Kinship care; 4. Residential care; 5. Lead tenant; and 6. Youth Justice Facility whose statutory order expires within six months
Targeted number of service users or beneficiaries: 202
Targeted unit type: Individual