Pay-for-Success (PFS) is an emerging financial tool for funding social services. GreenLight Fund Philadelphia and Social Finance will partner to support the launch of the Commonwealth of Pennsylvania’s first PFS pilots: one focused on reducing adult recidivism with the Center for Employment Opportunities and the other on reducing juvenile recidivism with Youth Advocates Program. GreenLight and Social Finance will not only help ensure the success of CEO and YAP, but will aim to spur new ways of thinking about social service interventions both in and between government, providers, funders and investors in Philadelphia. The grant will support the costs of project development, development of financial structures, investor convenings, contract development and contract negotiation.
