Project
| ID | INDIGO-POJ-0002 |
|---|---|
| Impact Bond Name - (Value) | Aspire Social Impact Bond Adelaide |
| Stage of Development - (Value) | Implementation |
| Dates - Date outcomes contract signed - (Value) | 2017-03 |
| Dates - Actual completion date - (Value) | 2024-12 |
| Dates - Start date of service provision - (Value) | 2017-06 |
| Dates - Anticipated end date of service provision - (Value) | 2021 |
| Dates - Actual end date of service provision - (Value) | 2022 |
| Dates - (Source ID's) | source2,source3,source20 |
| Overall project finance - Total investment commitment - Currency - (Value) | AUD |
| Overall project finance - Total investment commitment - Amount - Exact - (Value) | 9000000 |
| Overall project finance - Total investment commitment - Amount USD - Exact - (Value) | 6897830.457 |
| Overall project finance - Maximum potential outcome payment - Currency - (Value) | AUD |
| Overall project finance - Maximum potential outcome payment - Amount - (Value) | 11000000 |
| Overall project finance - Maximum potential outcome payment - Amount USD - (Value) | 8430681.669666667 |
| Purpose and classifications - Intervention - (Value) | The Aspire Program works with people experiencing chronic homelessness through long-term case management and assistance to secure sustainable housing, employment and other goals. The model applies the Housing First principle. Housing First is an approach to ending homelessness that centres on quickly moving people experiencing homelessness into independent and permanent housing and then providing additional supports and services as needed. Under the Aspire service model, participants are provided stable accommodation, job readiness training, pathways to employment and life skills development. Importantly, they also have the long-term support of a dedicated ‘Navigator’ to help them connect with wider support services and identify and achieve their aspirations. The Aspire Program is designed as a three-year program with tiered intensity of support. Each individual’s journey will be unique, and the level of support will be adjusted to reflect their strengths and needs. |
| Purpose and classifications - Policy sector - (Value) | Homelessness |
| Purpose and classifications - (Source ID's) | source13,source3 |
| Service and beneficiaries - Target population - (Value) | To be referred to the Aspire Program, individuals must meet the following eligibility criteria: ● Aged 18-55; ● Currently homeless, or about to be released from a partnering prison or discharged from a partnering hospital and identified as being at risk of homelessness; ● Have been homeless for at least three months in the preceding year (unless incarcerated or in hospital); ● Located in metropolitan Adelaide with the intention of staying in the area; ● Not subject to any unresolved criminal charges; and ● Entitled to a Medicare Card. Referrals will be accepted from providers of homelessness services, participating prisons (up to 10% of referrals), participating hospitals (up to 10% of referrals) and Housing SA. Significant demand is expected for the program, and referrals will be capped at the number of program vacancies. Eligible referrals will be accepted on a first come first served basis. |
| Service and beneficiaries - Targeted number of unique service users or beneficiaries (total) - (Value) | 600 |
| Service and beneficiaries - Unit type of targeted service users or beneficiaries - (Value) | Individual |
| Service and beneficiaries - (Source ID's) | source14 |
| Notes - (Value) | Government of South Australia is expected to make $17m payments to the Aspire SIB Trust, comprising $6m fixed Standing Charge payments and $11m contingent Outcome Payments |
| Delivery Locations 1: Location - Name - (Value) | Adelaide, South Australia |
| Delivery Locations 1: Location - Country - (Value) | AU |
| Delivery Locations 1: Lat/Lng - Lat - (Value) | -34.948448 |
| Delivery Locations 1: Lat/Lng - Lng - (Value) | 138.624324 |
| Sources 1: Id | source1 |
| Sources 1: Name - (Value) | Social Ventures Australia Aspire Social Impact Bond Annual Investor report, 2018 accessed on 24/07/2019 at file:///Users/bsog0147/Downloads/993_aspire_sib_annual_investor_report_2018-web_singles.pdf |
| Sources 2: Id | source2 |
| Sources 2: Name - (Value) | Inferred from Social Ventures Australia Aspire Social Impact Bond Annual Investor report, 2018 p. 3 accessed on 24/07/2019 at file:///Users/bsog0147/Downloads/993_aspire_sib_annual_investor_report_2018-web_singles.pdf |
| Sources 3: Id | source3 |
| Sources 3: Name - (Value) | Social Ventures Australia Aspire Social Impact Bond Annual Investor report, 2018 p. 3 accessed on 24/07/2019 at file:///Users/bsog0147/Downloads/993_aspire_sib_annual_investor_report_2018-web_singles.pdf |
| Sources 4: Id | source4 |
| Sources 4: Name - (Value) | Social Ventures Australia Aspire Social Impact Bond Annual Investor report, 2018 p. 5 accessed on 24/07/2019 at file:///Users/bsog0147/Downloads/993_aspire_sib_annual_investor_report_2018-web_singles.pdf |
| Sources 5: Id | source5 |
| Sources 5: Name - (Value) | Social Ventures Australia Aspire Social Impact Bond Annual Investor report, 2018 p. 4 accessed on 24/07/2019 at file:///Users/bsog0147/Downloads/993_aspire_sib_annual_investor_report_2018-web_singles.pdf note that 'SIB term' may not equate directly to the service delivery duration. |
| Sources 6: Id | source6 |
| Sources 6: Name - (Value) | Social Ventures Australia Aspire Social Impact Bond Annual Investor report, 2018 p. 15 accessed on 24/07/2019 at file:///Users/bsog0147/Downloads/993_aspire_sib_annual_investor_report_2018-web_singles.pdf |
| Sources 7: Id | source7 |
| Sources 7: Name - (Value) | Social Ventures Australia Aspire Social Impact Bond, N.D. p. 2 accessed on 24/07/2019 at https://www.socialventures.com.au/assets/Aspire-SIB_About-web.pdf |
| Sources 8: Id | source8 |
| Sources 8: Name - (Value) | Pro bono Australia Homelesslessness Social Impact Bond Raises $9M, 2017, accessed on 24/09/2019 at https://probonoaustralia.com.au/news/2017/03/homelessness-social-impact-bond-raises-9m/ |
| Sources 9: Id | source9 |
| Sources 9: Name - (Value) | Social Ventures Australia Aspire Social Impact Bond Annual Investor report, 2018 p. 4 accessed on 24/07/2019 at file:///Users/bsog0147/Downloads/993_aspire_sib_annual_investor_report_2018-web_singles.pdf |
| Sources 10: Id | source10 |
| Sources 10: Name - (Value) | See Social Ventures Australia Aspire Social Impact Bond Information Memorandum, 2017 p. 13 accessed on 24/072019 at http://www.socialventures.com.au/assets/SVA-Aspire-IM-web-FINAL.pdf |
| Sources 11: Id | source11 |
| Sources 11: Name - (Value) | Hutt St Centre website 'The Aspire Approach' accessed on 24/07/2019 at https://www.huttstcentre.org.au/how-we-help/aspire-program |
| Sources 12: Id | source12 |
| Sources 12: Name - (Value) | Social Ventures Australia Aspire Social Impact Bond Annual Investor report, 2018 p. 7 accessed on 24/07/2019 at file:///Users/bsog0147/Downloads/993_aspire_sib_annual_investor_report_2018-web_singles.pdf |
| Sources 13: Id | source13 |
| Sources 13: Name - (Value) | Hutt St Centre website 'The Aspire Approach' accessed on 24/07/2019 at https://www.huttstcentre.org.au/how-we-help/aspire-program and Social Ventures Australia Aspire Social Impact Bond Annual Investor report, 2018 p. 4-5 accessed on 24/07/2019 at file:///Users/bsog0147/Downloads/993_aspire_sib_annual_investor_report_2018-web_singles.pdf |
| Sources 14: Id | source14 |
| Sources 14: Name - (Value) | Social Ventures Australia Aspire Social Impact Bond Information Memorandum, 2017 p. 20 accessed on 24/072019 at http://www.socialventures.com.au/assets/SVA-Aspire-IM-web-FINAL.pdf |
| Sources 15: Id | source15 |
| Sources 15: Name - (Value) | Social Ventures Australia Aspire Social Impact Bond, N.D. p. 1 accessed on 24/07/2019 at https://www.socialventures.com.au/assets/Aspire-SIB_About-web.pdf |
| Sources 16: Id | source16 |
| Sources 16: Name - (Value) | Social Ventures Australia Aspire Social Impact Bond Annual Investor report, 2018 p. 11 accessed on 24/07/2019 at file:///Users/bsog0147/Downloads/993_aspire_sib_annual_investor_report_2018-web_singles.pdf |
| Sources 17: Id | source17 |
| Sources 17: Name - (Value) | Social Ventures Australia Aspire Social Impact Bond Information Memorandum, 2017 p. 13 accessed on 24/072019 at http://www.socialventures.com.au/assets/SVA-Aspire-IM-web-FINAL.pdf |
| Sources 18: Id | source18 |
| Sources 18: Name - (Value) | Social Ventures Australia Aspire Social Impact Bond Information Memorandum, 2017 p. 5 accessed on 24/072019 at http://www.socialventures.com.au/assets/SVA-Aspire-IM-web-FINAL.pdf |
| Sources 19: Id | source19 |
| Sources 19: Name - (Value) | Social Ventures Australia Aspire Social Impact Bond Information Memorandum, 2017 p. 33 - 35 accessed on 24/072019 at http://www.socialventures.com.au/assets/SVA-Aspire-IM-web-FINAL.pdf Social Ventures Australia Aspire Social Impact Bond Information Memorandum, 2017 p.32 - 35 accessed on 24/072019 at http://www.socialventures.com.au/assets/SVA-Aspire-IM-web-FINAL.pdf |
| Sources 20: Id | source20 |
| Sources 20: Name - (Value) | Social Ventures Australia Aspire Social Impact Bond Information accesed on 05/10/2021 at https://mk0socialventuraff85.kinstacdn.com/assets/SVA-Aspire-IM-web-FINAL.pdf |
| Service Provisions 1: Id | serviceprovision1 |
| Service Provisions 1: Organisation ID - (Value) | INDIGO-ORG-0694 |
| Outcome Payment Commitments 1: Organisation ID - (Value) | INDIGO-ORG-1344 |
| Outcome Payment Commitments 1: Organisation Role Category - (Value) | Government/Public Sector/Public Bank |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Currency - (Value) | AUD |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount - (Value) | 11000000 |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount USD - (Value) | 8430681.669666667 |
| Investments 1: Id | investment1 |
| Investments 1: Organisation ID - (Value) | INDIGO-ORG-0696 |
| Investments 1: Investment Commitment - Currency - (Value) | AUD |
| Investments 1: Investment Commitment - Amount - Exact - (Value) | 9000000 |
| Investments 1: Investment Commitment - Amount USD - Exact - (Value) | 6897830.457 |
| Intermediary services 1: Organisation ID - (Value) | INDIGO-ORG-0013 |
| Intermediary services 1: Organisation Role Category - (Value) | Performance management |
| Outcome Metrics 1: Id | outcomemetric1 |
| Outcome Metrics 1: Outcome Definition - (Value) | Hospital bed days. The number of days spent as an admitted hospital patient. |
| Outcome Metrics 1: Targeted number of service users Or beneficiaries (total) - (Value) | 400 |
| Outcome Metrics 2: Id | outcomemetric2 |
| Outcome Metrics 2: Outcome Definition - (Value) | Convictions. The number of convictions in the year prior. |
| Outcome Metrics 3: Id | outcomemetric3 |
| Outcome Metrics 3: Outcome Definition - (Value) | Crisis accommodation perdiods. The number of periods of short term or emergency accommodation recorded. The outcomes for each member of the Intervention Group will be measured for three years from their date of referral to the Aspire Program. |
| Documents 1: Title - (Value) | Information Memorandum - Aspire Social Impact Bond |
| Documents 1: URL - (Value) | https://golab.bsg.ox.ac.uk/documents/SVA-Aspire-IM-web-FINAL.pdf |
| Documents 2: Title - (Value) | Evaluation report - Aspire SIB |
| Documents 2: URL - (Value) | https://golab.bsg.ox.ac.uk/documents/Aspire_Final_Evaluation_Report.pdf |