Foundations for Social Impact Bonds How and Why Philanthropy Is Catalyzing the Development of a New Market
Mobilizing Investment Capital to Drive Social Progress Foundations for Social Impact Bonds How and Why Philanthropy Is Catalyzing the Development of a New Market SUPPORTED BY 1 n Acknowledgements This report reflects the contributions of many people. First and foremost, we would like to thank all of the individuals who took the time to share their perspectives on this new market with us. Their thoughtful observations provided significant insight into how philanthropy perceives this space. Second, those with whom we shared initial drafts provided astute guidance, which we strived to reflect in the following pages. In particular, we would like to thank Nancy Barrand, Peter Berliner, Paul Brest, Phil Buchanan, David Carrington, Shawn Cole, Kristina Costa, Alnoor Ebrahim, Michael Etzel, Ian Galloway, Steven Godeke, John Goldstein, Jacob Harold, Alisa Helbitz, Simon Jawitz, Georgia Levenson Keohane, Woody McCutchen, Mario Morino, Sonal Shah, Nadya K. Shmavonian, Laura Tomasko, and David Wood. Third, this paper would not be possible without the support and insight of our colleagues at Social Finance, who were instrumental to its completion. Tracy Palandjian, Rebecca Leventhal, Kate Manning Kennedy, Olga Berlinsky, Blake Meulmester, and Madeleine Smith added considerably to the paper. Finally, we are grateful to the Rockefeller Foundation, Omidyar Network, and The Pershing Square Foundation for their financial support of this report. We deeply appreciate the guidance and wisdom of Kippy Joseph, Amy Klement, and Paul Bernstein. Any errors or
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