Project
| ID | INDIGO-POJ-0005 |
|---|---|
| Impact Bond Name - (Value) | New South Wales Newpin Social Benefit Bond |
| Stage of Development - (Value) | Complete |
| Social Investment Prototype - (Value) | NO |
| Dates - Actual completion date - (Value) | 2020-09 |
| Dates - Start date of service provision - (Value) | 2013-06 |
| Dates - (Source ID's) | source4,source18 |
| Overall project finance - Total investment commitment - Currency - (Value) | AUD |
| Overall project finance - Total investment commitment - Amount - Exact - (Value) | 7000000 |
| Overall project finance - Total investment commitment - Amount USD - Exact - (Value) | 6757780.231 |
| Overall project finance - Maximum potential outcome payment - Currency - (Value) | AUD |
| Overall project finance - Maximum potential outcome payment - Amount - (Value) | 47000000 |
| Purpose and classifications - Intervention - (Value) | Newpin is a therapeutic, centre-based program that supports and empowers families to break the cycle of child abuse and neglect by providing safe, nurturing environments for their children. Newpin was developed in response to the needs of new mothers experiencing issues such as isolation, mental illness, family violence, social disadvantage, drug and alcohol misuse, low self-esteem and for those who were at risk of physically or emotionally harming their children. The Newpin model includes parenting modules, therapeutic group meetings, child development activities, and a supportive environment. The service delivery process includes the child being restored to the family and removed from out-of-home care when risk of harm to the child is reduced. Many families generally stay on the Newpin program for a period of six months after the restoration of a child to ensure the parents are supported during the transition and to maximise sustained restoration outcomes. |
| Purpose and classifications - Policy sector - (Value) | Child and family welfare |
| Purpose and classifications - (Source ID's) | source11,source3 |
| Service and beneficiaries - Target population - (Value) | Families with children aged less than five years who are either in statutory out-of-home care or are at risk of harm. The Newpin program works with three broad family cohorts: ● Cohort 1: the first cohort comprises families that have at least one child aged less than five years who has been in out-of-home care for at least three months. (c. 50% of cases) ● Cohort 2: the second cohort comprises families that have at least one child aged less than five years that has been assessed as being at risk of serious harm. These children will either be the subject of a Supervision Order or a safety and risk assessment by FACS. (c. 25% of cases) ● Cohort 3: the balance of Newpin places are allocated to families with children under five years who do not meet the definitions above but have been identified as needing support to prevent deterioration in the family environment. These families are referred to as “Cohort 3”. |
| Service and beneficiaries - Actual number of unique service users or beneficiaries engaged (total) - (Value) | 700 |
| Service and beneficiaries - Unit type of actual service users or beneficiaries engaged - (Value) | Other |
| Service and beneficiaries - Unit description of actual service user or beneficiaries engaged - (Value) | Families |
| Service and beneficiaries - (Source ID's) | source12 |
| Notes - (Value) | The minimum Interest Rate is 5% p.a. over the first three years. The maximum Interest Rate is 15% p.a. over the full term. 100% of Principal will be repaid if the Restoration Rate over the full term is greater than 55%. A minimum of 50% of Principal will be repaid at the maturity date. The Counterfactual Rate of Restoration is fixed at 25% for three years whilst a suitable control group (the Live Matched Control Group) is constructed and studied. From the end of the three year period (the Counterfactual Review Date) the rate of restoration of the Live Matched Control Group is calculated and used as the Counterfactual Rate of Restoration. |
| Delivery Locations 1: Service Provision ID - (Value) | deliverylocation1 |
| Delivery Locations 1: Location - Name - (Value) | New South Wales, Australia |
| Delivery Locations 1: Location - Country - (Value) | AU |
| Delivery Locations 1: Lat/Lng - Lat - (Value) | -33.947645 |
| Delivery Locations 1: Lat/Lng - Lng - (Value) | 151.166437 |
| Sources 1: Id | source1 |
| Sources 1: Name - (Value) | Information memorandum Newpin Social Benefit Bond, Social Ventures Australia, 2013 p. 1 accessed on 23/07/2019 at https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/Newpin-Information-Memorandum.pdf |
| Sources 2: Id | source2 |
| Sources 2: Name - (Value) | Derived from dates in Information memorandum Newpin Social Benefit Bond, Social Ventures Australia, 2013 p. 5 accessed on 23/07/2019 at https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/Newpin-Information-Memorandum.pdf |
| Sources 3: Id | source3 |
| Sources 3: Name - (Value) | Information memorandum Newpin Social Benefit Bond, Social Ventures Australia, 2013 p. 2 accessed on 23/07/2019 at https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/Newpin-Information-Memorandum.pdf |
| Sources 4: Id | source4 |
| Sources 4: Name - (Value) | Information memorandum Newpin Social Benefit Bond, Social Ventures Australia, 2013 p. 5 accessed on 23/07/2019 at https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/Newpin-Information-Memorandum.pdf |
| Sources 5: Id | source5 |
| Sources 5: Name - (Value) | Office of Social Impact Investment Newpin Factsheet, 2017 p. 2 accessed on 23/07/2019 at https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/Newpin-Factsheet-August-2017.pdf |
| Sources 6: Id | source6 |
| Sources 6: Name - (Value) | Information memorandum Newpin Social Benefit Bond, Social Ventures Australia, 2013 p.2 accessed on 23/07/2019 at https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/Newpin-Information-Memorandum.pdf |
| Sources 7: Id | source7 |
| Sources 7: Name - (Value) | Information memorandum Newpin Social Benefit Bond, Social Ventures Australia, 2013 p. 24 accessed on 23/07/2019 at https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/Newpin-Information-Memorandum.pdf. See also https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/Newpin-Evaluation-Framework.pdf accessed 30/7/19. |
| Sources 8: Id | source8 |
| Sources 8: Name - (Value) | Information memorandum Newpin Social Benefit Bond, Social Ventures Australia, 2013 p. 7 accessed on 23/07/2019 at https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/Newpin-Information-Memorandum.pdf |
| Sources 9: Id | source9 |
| Sources 9: Name - (Value) | Information memorandum Newpin Social Benefit Bond, Social Ventures Australia, 2013 p. 3 accessed on 23/07/2019 at https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/Newpin-Information-Memorandum.pdf and The Potential and Limitations of Impact Bonds, Brookings, 2015 p. 119 accessed on 23/07/2019 at https://www.brookings.edu/wp-content/uploads/2015/07/impact-bondsweb.pdf |
| Sources 10: Id | source10 |
| Sources 10: Name - (Value) | Information memorandum Newpin Social Benefit Bond, Social Ventures Australia, 2013 p. 6 accessed on 23/07/2019 at https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/Newpin-Information-Memorandum.pdf AND Uniting Care Burnside Newpin Restoration Model, 2013 accessed on 23/07/2019 at https://www.aph.gov.au/DocumentStore.ashx?id=11eb511b-daf2-4cda-bd62-6dddba06700c |
| Sources 11: Id | source11 |
| Sources 11: Name - (Value) | Information memorandum Newpin Social Benefit Bond, Social Ventures Australia, 2013 p. 6 and pp. 13 - 15 accessed on 23/07/2019 at https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/Newpin-Information-Memorandum.pdf AND Uniting Care Burnside Newpin Restoration Model, 2013 accessed on 23/07/2019 at https://www.aph.gov.au/DocumentStore.ashx?id=11eb511b-daf2-4cda-bd62-6dddba06700c |
| Sources 12: Id | source12 |
| Sources 12: Name - (Value) | Information memorandum Newpin Social Benefit Bond, Social Ventures Australia, 2013 p. 3 and p. 15 accessed on 23/07/2019 at https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/Newpin-Information-Memorandum.pdf |
| Sources 13: Id | source13 |
| Sources 13: Name - (Value) | Summary derived from Information memorandum Newpin Social Benefit Bond, Social Ventures Australia, 2013 p. 29 accessed on 23/07/2019 at https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/Newpin-Information-Memorandum.pdf |
| Sources 14: Id | source14 |
| Sources 14: Name - (Value) | Information memorandum Newpin Social Benefit Bond, Social Ventures Australia, 2013 p. 27 and p. 29 accessed on 23/07/2019 at https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/Newpin-Information-Memorandum.pdf |
| Sources 15: Id | source15 |
| Sources 15: Name - (Value) | Information memorandum Newpin Social Benefit Bond, Social Ventures Australia, 2013 p. 34 accessed on 23/07/2019 at https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/Newpin-Information-Memorandum.pdf |
| Sources 16: Id | source16 |
| Sources 16: Name - (Value) | Information memorandum Newpin Social Benefit Bond, Social Ventures Australia, p4 and p.27 2013 accessed on 23/07/2019 at https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/Newpin-Information-Memorandum.pdf |
| Sources 17: Id | source17 |
| Sources 17: Name - (Value) | Information memorandum Newpin Social Benefit Bond, Social Ventures Australia, 2013 p. 28 accessed on 23/07/2019 at https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/Newpin-Information-Memorandum.pdf |
| Sources 18: Id | sourcehackandlearn2021-08 |
| Sources 18: Name - (Value) | Hack and Learn - August 2021 |
| Sources 19: Id | source18 |
| Sources 19: Name - (Value) | Information memorandum Newpin Social Benefit Bond, Social Ventures Australia, 2021 p. 5 accessed on 05/10/2021 at https://mk0socialventuraff85.kinstacdn.com/assets/Newpin-Social-Benefit-Bond-IM-020513.pdf |
| Sources 20: Id | source19 |
| Sources 20: Name - (Value) | Newpin Final Evaluation Report (see documents tab) |
| Sources 20: Type - (Value) | Evaluation report |
| Sources 20: URL - (Value) | https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/Newpin-Evaluation-Final-Report.pdf |
| Service Provisions 1: Id | serviceprovision1 |
| Service Provisions 1: Organisation ID - (Value) | INDIGO-ORG-0011 |
| Outcome Payment Commitments 1: Organisation ID - (Value) | INDIGO-ORG-0571 |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Currency - (Value) | AUD |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount - (Value) | 47000000 |
| Investments 1: Id | investment1 |
| Investments 1: Organisation ID - (Value) | INDIGO-ORG-0701 |
| Investments 1: Investment Commitment - Currency - (Value) | AUD |
| Investments 1: Investment Commitment - Amount - Exact - (Value) | 7000000 |
| Investments 1: Investment Commitment - Amount USD - Exact - (Value) | 6757780.231 |
| Investments 1: Investment Type - (Value) | Loan |
| Intermediary services 1: Organisation ID - (Value) | INDIGO-ORG-0013 |
| Intermediary services 1: Organisation Role Category - (Value) | Performance management |
| Intermediary services 2: Organisation ID - (Value) | INDIGO-ORG-0699 |
| Intermediary services 2: Organisation Role Category - (Value) | Other |
| Intermediary services 2: Other Role Description - (Value) | Evaluator |
| Outcome Metrics 1: Id | outcomemetric1 |
| Outcome Metrics 1: Outcome Definition - (Value) | Performance payments are linked to the achievement of restorations from care, compared to the control group. The proportion of children in out-of-home care attending a Newpin Centre who are restored to the care of their families. Restoration Rate = A / (A + B) Where: A is the number of children and young people whose family attended a Newpin Mothers’ Centre who were Restored to the care of their parent(s) during the period; B is the number of children and young people whose family attended a Newpin Mothers’ Centre and who were Unrestored Exits during the period. |
| Outcome Metrics 1: Policy sector - (Value) | Child and family welfare |
| Outcome Metrics 1: Primary SDG goal - (Value) | 16 |
| Outcome Metrics 1: Secondary SDG goals - (Value) | 3 |
| Outcome Metrics 1: Primary SDG target - (Value) | 16.2 |
| Outcome Metrics 1: Secondary SDG targets - (Value) | 3.5 |
| Results 1: Outcome Metric Id - (Value) | outcomemetric1 |
| Results 1: Result level - (Value) | Outcome level |
| Results 1: Result type - (Value) | Final |
| Results 1: Period - Start - (Value) | 2013-07 |
| Results 1: Period - End - (Value) | 2019-12 |
| Results 1: Outcomes achieved - (Value) | Almost 850 children from over 500 families have participated in Newpin with either restoration or preservation as their case plan goal. The net restoration rate for Newpin under this evaluation at 31 December 2019 is 59%. It is nearly three times higher than the Counterfactual Rate of Restoration that was used in the SBB arrangement (20%). Around two-thirds (65%) of children who were at risk of being removed from their families were able to remain with their parents and not enter OOHC. |
| Results 1: Evaluation Documents - (Value) | source19 |
| Documents 1: Title - (Value) | Newpin Final Evaluation Report |
| Documents 1: URL - (Value) | https://golab.bsg.ox.ac.uk/documents/Newpin-Evaluation-Final-Report_8mrWuf2.pdf |