The Department of Treasury and Finance leads work across the South Australian Government in social impact investment.
Social impact bonds (SIBs) and ‘pay by results’ contracts are about better outcomes for individuals and communities. Under these arrangements governments agree to share the financial benefits delivered through innovative social programs. Private investors may then provide the capital to pay for the program delivery, and then receive a rate of investment return that is linked to the success of the program, as measured against clearly defined outcome objectives.
UPDATE – January 2021: the South Australian Government has announced two new social impact investments in South Australia:
Newpin is a family reunification program, aiming to strengthen family engagement and functioning so that children in out-of-home care are able to be safely returned to their families.
The program will be delivered in South Australia by Uniting Communities, with three Newpin centres to open in metropolitan Adelaide – the first centre in the northern suburbs to open in July 2021.
More information about Newpin:
The Resilient Families program is an intensive family support service, to keep children safe at home, in community and culture.
The program will be delivered by The Benevolent Society, which has developed and successfully delivered it through social impact investment in New South Wales. It is being funded in South Australia though a pay-by-results contract, with service delivery to commence in Southern Adelaide from July 2021.
More information about Resilient Families:
South Australia’s first social impact bond, the Aspire program, commenced in 2017. The program aims to improve the lives of homeless people in Adelaide. The Hutt St Centre is the lead service provider.
In the first three years of operation, 430 South Australians experiencing homelessness have received support through the Aspire program. The program has achieved better life outcomes for these people, as well as reductions in service use, including:
- 38% reduction in hospital bed days
- 46% reduction in convictions
- 71% reduction in emergency accommodation periods.
More information about Aspire:
Contact for inquiries: firstname.lastname@example.org
Further information about social impact investing: