Impact Bond: Newpin SA Social Impact Bond
Stage of development: Implementation
Policy sector: Child and family welfare
Social challenge: There are currently over 4,000 children in South Australia living away from their parents in out-of-home care, highlighting a strong need for investment in reunification services.
Intervention: The Newpin Program is an 18-month centre-based program that has been designed to strengthen family engagement and has an established track record in ensuring that more children are able to live safely with their parents.
Date outcomes contract signed: 2020-12
Date contracts between all parties signed: 2021-03
Start of service provision: 2021-07
Anticipated end of service provision: 2026-03
Total investment commitment currency: USD
Total investment commitment: 6500000
Total investment commitment (USD): 6500000
Maximum potential outcome payment: 20600000 USD
Maximum potential outcome payment (USD): 20600000
Configuration of the contracting parties: Direct Structure
Target population: Vulnerable children and families in South Australia. Families will have at least one child who is below school age and in out-of-home care.
Targeted number of service users or beneficiaries: 224
Targeted unit type: Other
Targeted unit description: families
Service and beneficiaries notes: 224 families, including ~314 children