Project
| ID | INDIGO-POJ-0082 |
|---|---|
| Impact Bond Name - (Value) | Utah High Quality Preschool Program |
| Stage of Development - (Value) | Implementation |
| Dates - Date outcomes contract signed - (Value) | 2013-06 |
| Dates - Start date of service provision - (Value) | 2013-09 |
| Dates - (Source ID's) | source2,source4 |
| Overall project finance - Total investment commitment - Currency - (Value) | USD |
| Overall project finance - Total investment commitment - Amount - Exact - (Value) | 7000000 |
| Overall project finance - Total investment commitment - Amount USD - Exact - (Value) | 7000000 |
| Overall project finance - (Source ID's) | source14 |
| Overall project finance - (Notes) | Investors contributed a total of $7 million to implement the preschool program for 5 cohorts of children from the 2013/14 to the 2017/18 school years (SY). |
| Purpose and classifications - Social challenge - (Value) | Providing preschool services to 3- and 4-year-old children in low-income areas in Salt Lake County, Utah |
| Purpose and classifications - Intervention - (Value) | Delivery of high impact and targeted curriculum to increase school readiness and academic performance among preschoolers. The program is a locally-designed, structured preschool model that lasts 1 or 2 years. As a result of entering kindergarten better prepared, it is expected that fewer children will use special education and remedial services in kindergarten through 12th grade. |
| Purpose and classifications - Policy sector - (Value) | Education |
| Purpose and classifications - Primary SDG goal - (Value) | 4 |
| Purpose and classifications - Secondary SDG goals - (Value) | 10 |
| Purpose and classifications - (Source ID's) | source1,source3,source14 |
| Service and beneficiaries - Target population - (Value) | Low-income 3 and 4 year olds are invited to participate in the preschool program, but only those who score 70 or less on the Peabody Picture Vocabulary Test are tracked through primary school. |
| Service and beneficiaries - (Source ID's) | source9 |
| Notes - (Value) | Impact evaluation did not include any control group analysis leading some critics to suggest that investor returns exceeded the value of the savings generated by the intervention. Some argue that multiple outcomes and metrics should have been specified. Also, while the program itself has ended, outcomes will be tracked until 2025. |
| Delivery Locations 1: Location - Name - (Value) | Salt Lake County, Utah, USA |
| Delivery Locations 1: Location - Country - (Value) | US |
| Delivery Locations 1: Lat/Lng - Lat - (Value) | 40.767878 |
| Delivery Locations 1: Lat/Lng - Lng - (Value) | -111.88677 |
| Sources 1: Id | source1 |
| Sources 1: Name - (Value) | United Way of Salt Lake High Quality Preschool Program fact sheet (2013) - p.1 accessed on 25/07/2019 at https://hceconomics.uchicago.edu/sites/default/files/file_uploads/SIB-RBFFact_SheetUtahVersion.pdf |
| Sources 2: Id | source2 |
| Sources 2: Name - (Value) | United Way of Salt Lake press release (2013) - p. 1 accessed on 25/07/2019 at https://guinncenter.org/wp-content/uploads/2014/01/Results-Bases-Financing.pdf |
| Sources 3: Id | source3 |
| Sources 3: Name - (Value) | Institute for Child Success program summary (Golden et al., February 2015) p. 13 accessed on 25/07/2019 at https://thrivewa.org/wp-content/uploads/Pay-for-Success-in-the-US-Summaries-of-Financed-Projects.pdf |
| Sources 4: Id | source4 |
| Sources 4: Name - (Value) | Institute for Child Success program summary (Golden et al., February 2015) p. 14 accessed on 25/07/2019 at https://thrivewa.org/wp-content/uploads/Pay-for-Success-in-the-US-Summaries-of-Financed-Projects.pdf |
| Sources 5: Id | source5 |
| Sources 5: Name - (Value) | The Potential and Limitations of Impact Bonds, Brookings, 2015 p. 108 accessed on 22/07/2019 at https://www.brookings.edu/wp-content/uploads/2015/07/impact-bondsweb.pdf |
| Sources 6: Id | source6 |
| Sources 6: Name - (Value) | United Way of Salt Lake initial results summary (2015) - p.2 accessed on 25/07/2019 at https://payforsuccess.org/sites/default/files/resource-files/sibfactsheet10-1-2015finaledits-4_0.pdf |
| Sources 7: Id | source7 |
| Sources 7: Name - (Value) | GuideStar, https://www.guidestar.org |
| Sources 8: Id | source8 |
| Sources 8: Name - (Value) | Own calculation from United Way of Salt Lake initial results summary (2015) - p.2 accessed on 25/07/2019 at https://payforsuccess.org/sites/default/files/resource-files/sibfactsheet10-1-2015finaledits-4_0.pdf |
| Sources 9: Id | source9 |
| Sources 9: Name - (Value) | United Way of Salt Lake High Quality Preschool Program fact sheet (2013) - p.1 |
| Sources 10: Id | source10 |
| Sources 10: Name - (Value) | United Way of Salt Lake High Quality Preschool Program fact sheet (2013) - p.2 |
| Sources 11: Id | source11 |
| Sources 11: Name - (Value) | Institute for Child Success program summary (Golden et al., February 2015) - p.2 |
| Sources 12: Id | source12 |
| Sources 12: Name - (Value) | United Way of Salt Lake initial results summary (2015) - p.1 Accessed on 25/07/2019 at https://payforsuccess.org/sites/default/files/resource-files/sibfactsheet10-1-2015finaledits-4_0.pdf |
| Sources 13: Id | source13 |
| Sources 13: Name - (Value) | Warrier, A., "Pay for Success: Lessons Learned from Salt Lake and NC" (2017) - p. 59 onwards accessed on 25/07/2019 at https://pdfs.semanticscholar.org/5d20/2a1680af6601ab5fdb1eb80a31fae7529c18.pdf?_ga=2.100099741.266488314.1564053965-1934992093.1564053965 |
| Sources 14: Id | source14 |
| Sources 14: Name - (Value) | Investing in Our Future: The Utah High-Quality Preschool Program |
| Sources 14: Type - (Value) | Report |
| Sources 14: URL - (Value) | https://sorensonimpactinstitute.com/project/the-utah-high-quality-preschool-program/ |
| Service Provisions 1: Id | serviceprovision1 |
| Service Provisions 1: Organisation ID - (Value) | INDIGO-ORG-0224 |
| Service Provisions 1: Organisation Role Category - (Value) | Other |
| Service Provisions 1: Notes | Provided the high-quality preschool program to low-income 3- and 4-year-olds and reported on outcomes. |
| Service Provisions 2: Id | serviceprovision2 |
| Service Provisions 2: Organisation ID - (Value) | INDIGO-ORG-0225 |
| Service Provisions 2: Organisation Role Category - (Value) | Other |
| Service Provisions 2: Notes | Provided the high-quality preschool program to low-income 3- and 4-year-olds and reported on outcomes. |
| Service Provisions 3: Id | serviceprovision3 |
| Service Provisions 3: Organisation ID - (Value) | INDIGO-ORG-0226 |
| Service Provisions 3: Organisation Role Category - (Value) | Other |
| Service Provisions 3: Notes | Provided the high-quality preschool program to low-income 3- and 4-year-olds and reported on outcomes. |
| Service Provisions 4: Id | serviceprovision4 |
| Service Provisions 4: Organisation ID - (Value) | INDIGO-ORG-0227 |
| Service Provisions 4: Organisation Role Category - (Value) | Other |
| Service Provisions 4: Notes | Provided the high-quality preschool program to low-income 3- and 4-year-olds and reported on outcomes. |
| Service Provisions 5: Id | serviceprovision5 |
| Service Provisions 5: Organisation ID - (Value) | INDIGO-ORG-0228 |
| Service Provisions 5: Organisation Role Category - (Value) | Other |
| Service Provisions 5: Notes | Provided the high-quality preschool program to low-income 3- and 4-year-olds and reported on outcomes. |
| Service Provisions 6: Id | serviceprovision6 |
| Service Provisions 6: Organisation ID - (Value) | INDIGO-ORG-0229 |
| Service Provisions 6: Organisation Role Category - (Value) | Other |
| Service Provisions 6: Notes | Provided the high-quality preschool program to low-income 3- and 4-year-olds and reported on outcomes. |
| Outcome Payment Commitments 1: Organisation ID - (Value) | INDIGO-ORG-0234 |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount - (Value) | $1,350,000 |
| Outcome Payment Commitments 2: Organisation ID - (Value) | INDIGO-ORG-0235 |
| Investments 1: Id | investment1 |
| Investments 1: Organisation ID - (Value) | INDIGO-ORG-0419 |
| Investments 1: Investment Type - (Value) | senior loan |
| Investments 2: Id | investment2 |
| Investments 2: Organisation ID - (Value) | INDIGO-ORG-0237 |
| Investments 2: Investment Type - (Value) | subordinate loan |
| Intermediary services 1: Organisation ID - (Value) | INDIGO-ORG-0230 |
| Intermediary services 1: Organisation Role Category - (Value) | Performance management |
| Intermediary services 2: Organisation ID - (Value) | INDIGO-ORG-0231 |
| Intermediary services 2: Organisation Role Category - (Value) | Other |
| Intermediary services 2: Other Role Description - (Value) | Intermediary overseeing the implementation of the project, convening partners, contracting with and managing payments to and reports from the providers, and developing reports for the investors. |
| Intermediary services 3: Organisation ID - (Value) | INDIGO-ORG-0232 |
| Intermediary services 3: Organisation Role Category - (Value) | Impact bond investment structure |
| Intermediary services 3: Other Role Description - (Value) | Provided financial structuring, research, and analytic support. |
| Outcome Metrics 1: Id | outcomemetric1 |
| Outcome Metrics 1: Outcome Definition - (Value) | Decrease in use of special education between grades K-6. Full year that student avoided using special education in primary school. Administrative data provided by schools. |
| Outcome Metrics 1: Primary SDG goal - (Value) | 4 |
| Outcome Metrics 1: Secondary SDG goals - (Value) | 10 |
| Outcome Metrics 1: Primary SDG target - (Value) | 4.2 |
| Outcome Metrics 1: Secondary SDG targets - (Value) | 10.2 |
| Outcome Metrics 2: Id | outcomemetric2 |
| Outcome Metrics 2: Outcome Definition - (Value) | Decrease in use of special education between 6th and 12th grades. Full year that student avoided using special education in secondary school. Administrative data provided by schools. |
| Outcome Metrics 2: Primary SDG goal - (Value) | 4 |
| Outcome Metrics 2: Secondary SDG goals - (Value) | 10 |
| Outcome Metrics 2: Primary SDG target - (Value) | 4.2 |
| Outcome Metrics 2: Secondary SDG targets - (Value) | 10.2 |
| Results 1: Result level - (Value) | Project level |
| Results 1: Result type - (Value) | Interim |
| Results 1: Period - Start - (Value) | 2013 |
| Results 1: Period - End - (Value) | 2016 |
| Results 1: Outcomes achieved - (Value) | The SIL funded preschool seats for both 3-year-olds and 4-year-olds for 5 years, and 2,681 distinct children were able to attend high-quality preschool because of the investment. |
| Results 1: Number with Positive social outcomes - (Value) | 2681 |
| Documents 1: Title - (Value) | PFS - Fact Sheet |
| Documents 1: URL - (Value) | https://golab.bsg.ox.ac.uk/documents/350/UW_fact_sheet.pdf |