Impact Bond: New South Wales Newpin Social Benefit Bond
Stage of development: Complete
Policy sector: Child and family welfare
Intervention: Newpin is a therapeutic, centre-based program that supports and empowers families to break the cycle of child abuse and neglect by providing safe, nurturing environments for their children. Newpin was developed in response to the needs of new mothers experiencing issues such as isolation, mental illness, family violence, social disadvantage, drug and alcohol misuse, low self-esteem and for those who were at risk of physically or emotionally harming their children. The Newpin model includes parenting modules, therapeutic group meetings, child development activities, and a supportive environment. The service delivery process includes the child being restored to the family and removed from out-of-home care when risk of harm to the child is reduced. Many families generally stay on the Newpin program for a period of six months after the restoration of a child to ensure the parents are supported during the transition and to maximise sustained restoration outcomes. 

Start of service provision: 2013-06
Actual completion date: 2020-09
Total investment commitment currency: AUD
Total investment commitment: 7000000
Total investment commitment (USD): 6757780.231
Maximum potential outcome payment: 47000000 AUD
Target population: Families with children aged less than five years who are either in statutory out-of-home care or are at risk of harm. The Newpin program works with three broad family cohorts: 
● Cohort 1: the first cohort comprises families that have at least one child aged less than five years who has been in out-of-home care for at least three months. (c. 50% of cases)
● Cohort 2: the second cohort comprises families that have at least one child aged less than five years that has been assessed as being at risk of serious harm. These children will either be the subject of a Supervision Order or a safety and risk assessment by FACS. (c. 25% of cases)
● Cohort 3: the balance of Newpin places are allocated to families with children under five years who do not meet the definitions above but have been identified as needing support to prevent deterioration in the family environment. These families are referred to as “Cohort 3”.
Actual number of service users or beneficiaries engaged: 700
Actual unit type: Other
Actual unit description: Families  
Notes: The minimum Interest Rate is 5% p.a. over the first three years. The maximum Interest Rate is 15% p.a. over the full term. 100% of Principal will be repaid if the Restoration Rate over the full term is greater than 55%. A minimum of 50% of Principal will be repaid at the maturity date. The Counterfactual Rate of Restoration is fixed at 25% for three years whilst a suitable control group (the Live Matched Control Group) is constructed and studied. From the end of the three year period (the Counterfactual Review Date) the rate of restoration of the Live Matched Control Group is calculated and used as the Counterfactual Rate of Restoration.