Project
| ID | INDIGO-POJ-0086 |
|---|---|
| Impact Bond Name - (Value) | Chicago Child-Parent Center PFS Initiative |
| Stage of Development - (Value) | Implementation |
| Dates - Date outcomes contract signed - (Value) | 2014-10 |
| Dates - Start date of service provision - (Value) | 2014-12 |
| Dates - (Source ID's) | source2,source3 |
| Overall project finance - Total investment commitment - Currency - (Value) | USD |
| Overall project finance - Total investment commitment - Amount - Exact - (Value) | 16900000 |
| Overall project finance - Total investment commitment - Amount USD - Exact - (Value) | 16900000 |
| Purpose and classifications - Intervention - (Value) | Chicago Public Schools (CPS) and the City of Chicago have launched a Pay-for-Success (PFS) contract that will allow the City to provide high quality pre-K services to more than 2,600 children in high-need communities through the successful Child Parent Center (CPC) education program.The intervention is based on the Child-Parent Center (CPC) preschool model. The program provides high quality half and full day preschool education to three- and four-year olds as well as comprehensive family services. It seeks to identify and rectify low-severity learning and behavioral challenges allowing students to stay on track with their peers. The model achieves its outcomes by working with students and parents to help foster better learning at home and helping families address the myriad of challenges they face. CPC is equipped with a Parent Resource Teacher and School Community Representative who engages parents both inside and outside of the CPC. |
| Purpose and classifications - Policy sector - (Value) | Education |
| Purpose and classifications - (Source ID's) | source11,source1 |
| Service and beneficiaries - Target population - (Value) | Four-year old Chicago Public School children eligible for free or reduced lunch |
| Service and beneficiaries - Targeted number of unique service users or beneficiaries (total) - (Value) | 2618 |
| Service and beneficiaries - (Source ID's) | source12 |
| Notes - (Value) | The City of Chicago and the Board of Education of the City of Chicago (Chicago Public Schools) are both payors but are paying for different success outcomes. City of Chicago is paying for outcomes related to kindergarten readiness and third-grade literacy, while Chicago Public Schools is paying for an outcome related to avoided special education costs. |
| Delivery Locations 1: Location - Name - (Value) | Chicago, Illinois, USA |
| Delivery Locations 1: Location - Country - (Value) | US |
| Delivery Locations 1: Lat/Lng - Lat - (Value) | 41.854267 |
| Delivery Locations 1: Lat/Lng - Lng - (Value) | -87.612944 |
| Sources 1: Id | source1 |
| Sources 1: Name - (Value) | Institute for Child Success Summaries of Financed Projects (Golden et al., 2015) p. 2 accessed on 25/07/2019 at https://thrivewa.org/wp-content/uploads/Pay-for-Success-in-the-US-Summaries-of-Financed-Projects.pdf |
| Sources 2: Id | source2 |
| Sources 2: Name - (Value) | PFS contract between City of Chicago and IFF Pay for Success I LLC (8/10/2014) - p. 2 accessed on 25/07/2019 at https://www.payforsuccess.org/sites/default/files/resource-files/o2014-8677_0.pdf |
| Sources 3: Id | source3 |
| Sources 3: Name - (Value) | Institute for Child Success Summaries of Financed Projects (Golden et al., 2015) p. 3 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 project summary (Golden et al., 20/01/2015) - p.2 |
| Sources 5: Id | source5 |
| Sources 5: Name - (Value) | The Potential and Limitations of Impact Bonds, Brookings, 2015 p. 114 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) | Pay for Success: The First 25, 2019, p. 12 accessed on 26/07/2019 at https://www.payforsuccess.org/sites/default/files/resource-files/pay-for-success-first-25.pdf |
| Sources 7: Id | source7 |
| Sources 7: Name - (Value) | PFS contract between City of Chicago and IFF Pay for Success I LLC (8/10/2014) - p. 9 AND Pay for Success: The First 25, 2019, p. 47 access on 26/07/2019 at https://www.payforsuccess.org/sites/default/files/resource-files/pay-for-success-first-25.pdf |
| Sources 8: Id | source8 |
| Sources 8: Name - (Value) | PFS contract between City of Chicago and IFF Pay for Success I LLC (8/10/2014) - (page 3 of contract; or page 4 of the PDF) and (page 9 - 10 of Exhibit II of the contract; or page 106 of the PDF) accessed on 25/07/2019 at https://www.payforsuccess.org/sites/default/files/resource-files/o2014-8677_0.pdf |
| Sources 9: Id | source9 |
| Sources 9: Name - (Value) | Calculation based on Institute for Child Success Summaries of Financed Projects (Golden et al., 2015) p. 3 accessed on 25/07/2019 at https://thrivewa.org/wp-content/uploads/Pay-for-Success-in-the-US-Summaries-of-Financed-Projects.pdf |
| Sources 10: Id | source10 |
| Sources 10: Name - (Value) | Chicago Child-Parent Center Pay for Success Initiative fact sheet (2014) - p.3 accessed on 25/07/2019 at https://www.northerntrust.com/documents/SIB-Fact-Sheet-100714.pdf |
| Sources 11: Id | source11 |
| Sources 11: Name - (Value) | Chicago Child-Parent Center Pay for Success Initiative fact sheet (2014) - p.4 accessed on 25/07/2019 at https://www.northerntrust.com/documents/SIB-Fact-Sheet-100714.pdf |
| Sources 12: Id | source12 |
| Sources 12: Name - (Value) | PFS contract between City of Chicago and IFF Pay for Success I LLC (8/10/2014) - p. 4 accessed on 25/07/2019 at https://www.payforsuccess.org/sites/default/files/resource-files/o2014-8677_0.pdf |
| Sources 13: Id | source13 |
| Sources 13: Name - (Value) | Chicago Child-Parent Center Pay for Success Initiative fact sheet (2014) - p.2 accessed on 25/07/2019 at https://www.northerntrust.com/documents/SIB-Fact-Sheet-100714.pdf |
| Sources 14: Id | source14 |
| Sources 14: Name - (Value) | SRI International Evaluation of Kindergarten Readiness in Five Child-Parent Centers: Report for 2014 - 2015 (April 2016) - p.8 accessed on 25/07/2019 at https://www.chicagoreporter.com/wp-content/uploads/2016/05/SIB-CPC_Report_FINAL_041916.pdf |
| Sources 15: Id | source15 |
| Sources 15: Name - (Value) | Pay for Success: The First 25 access on 26/07/2019 at https://www.payforsuccess.org/sites/default/files/resource-files/pay-for-success-first-25.pdf |
| Service Provisions 1: Id | serviceprovision1 |
| Service Provisions 1: Organisation ID - (Value) | INDIGO-ORG-0616 |
| Outcome Payment Commitments 1: Organisation ID - (Value) | INDIGO-ORG-0619 |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount - (Value) | 30000000 |
| Outcome Payment Commitments 2: Organisation ID - (Value) | INDIGO-ORG-0620 |
| Outcome Payment Commitments 2: Maximum potential Outcome payment - Amount - (Value) | 4500000 |
| Investments 1: Id | investment1 |
| Investments 1: Organisation ID - (Value) | INDIGO-ORG-0419 |
| Investments 1: Investment Type - (Value) | Senior debt |
| Investments 2: Id | investment2 |
| Investments 2: Organisation ID - (Value) | INDIGO-ORG-0097 |
| Investments 2: Investment Type - (Value) | Senior debt |
| Investments 3: Id | investment3 |
| Investments 3: Organisation ID - (Value) | INDIGO-ORG-0621 |
| Investments 3: Investment Type - (Value) | Subordinate debt |
| Intermediary services 1: Organisation ID - (Value) | INDIGO-ORG-0617 |
| Intermediary services 1: Organisation Role Category - (Value) | Performance management |
| Intermediary services 2: Organisation ID - (Value) | INDIGO-ORG-0618 |
| Outcome Metrics 1: Id | outcomemetric1 |
| Outcome Metrics 1: Outcome Definition - (Value) | Increase kindergarten readiness. Each student that scores equal or above the national average on five or six domains of a kindergarten readiness assessment after attending the CPC preschool program. |
| Outcome Metrics 1: Targeted number of service users Or beneficiaries (total) - (Value) | 2618 |
| Outcome Metrics 1: Policy sector - (Value) | Education |
| 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) | Improve 3rd grade literacy. Each student that scores equal or above the national average on the nationally administered 3rd grade reading test. |
| Outcome Metrics 2: Policy sector - (Value) | Education |
| 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 |
| Outcome Metrics 3: Id | outcomemetric3 |
| Outcome Metrics 3: Outcome Definition - (Value) | Reduce need for special education services. Full year student avoids using special education services after attending CPC preschool program through 6th and then 12th grades relative to comparison group equivalent. |
| Outcome Metrics 3: Policy sector - (Value) | Education |
| Outcome Metrics 3: Primary SDG goal - (Value) | 4 |
| Outcome Metrics 3: Secondary SDG goals - (Value) | 10 |
| Outcome Metrics 3: Primary SDG target - (Value) | 4.2 |
| Outcome Metrics 3: Secondary SDG targets - (Value) | 10.2 |
| Documents 1: Title - (Value) | PFS - Contract |
| Documents 1: URL - (Value) | https://s3.eu-west-2.amazonaws.com/golab.prod/documents/PFS_contract-3.pdf |
| Documents 2: Title - (Value) | PFS - Fact Sheet |
| Documents 2: URL - (Value) | https://s3.eu-west-2.amazonaws.com/golab.prod/documents/PFS_fact_sheet-2.pdf |