Project
| ID | INDIGO-POJ-0220 |
|---|---|
| Impact Bond Name - (Value) | Newpin SA Social Impact Bond |
| Stage of Development - (Value) | Implementation |
| Social Investment Prototype - (Value) | NO |
| Dates - Date outcomes contract signed - (Value) | 2020-12 |
| Dates - Date contracts between all parties signed - (Value) | 2021-03 |
| Dates - Start date of service provision - (Value) | 2021-07 |
| Dates - Anticipated end date of service provision - (Value) | 2026-03 |
| Dates - (Source ID's) | source1,source2 |
| Overall project finance - Total investment commitment - Currency - (Value) | USD |
| Overall project finance - Total investment commitment - Amount - Exact - (Value) | 6500000 |
| Overall project finance - Total investment commitment - Amount USD - Exact - (Value) | 6500000 |
| Overall project finance - Maximum potential outcome payment - Currency - (Value) | USD |
| Overall project finance - Maximum potential outcome payment - Amount - (Value) | 20600000 |
| Overall project finance - Maximum potential outcome payment - Amount USD - (Value) | 20600000 |
| Overall project finance - Configuration of the Contracting Parties - (Value) | Direct Structure |
| Purpose and classifications - Social challenge - (Value) | There are currently over 4,000 children in South Australia living away from their parents in out-of-home care, highlighting a strong need for investment in reunification services. |
| Purpose and classifications - Intervention - (Value) | The Newpin Program is an 18-month centre-based program that has been designed to strengthen family engagement and has an established track record in ensuring that more children are able to live safely with their parents. |
| Purpose and classifications - Policy sector - (Value) | Child and family welfare |
| Service and beneficiaries - Target population - (Value) | Vulnerable children and families in South Australia. Families will have at least one child who is below school age and in out-of-home care. |
| Service and beneficiaries - Targeted number of unique service users or beneficiaries (total) - (Value) | 224 |
| Service and beneficiaries - Unit type of targeted service users or beneficiaries - (Value) | Other |
| Service and beneficiaries - Unit description of targeted service user or beneficiaries - (Value) | families |
| Service and beneficiaries - (Notes) | 224 families, including ~314 children |
| Delivery Locations 1: Service Provision ID - (Value) | deliverylocation1 |
| Delivery Locations 1: Location - Name - (Value) | Adelaide |
| Delivery Locations 1: Location - Country - (Value) | AU |
| Delivery Locations 1: Lat/Lng - Lat - (Value) | -34.92123 |
| Delivery Locations 1: Lat/Lng - Lng - (Value) | 138.599503 |
| Sources 1: Id | source1 |
| Sources 1: Name - (Value) | Social Ventures Australia website visited on 05/10/2021: https://www.socialventures.com.au/work/newpin-sa-sib/ |
| Sources 1: Type - (Value) | Website |
| Sources 2: Id | source2 |
| Sources 2: Name - (Value) | Email correspondence with Social Ventures Australia on 28/07/2021 |
| Service Provisions 1: Id | serviceprovision1 |
| Service Provisions 1: Organisation ID - (Value) | INDIGO-ORG-1256 |
| Service Provisions 1: Organisation Role Category - (Value) | Nonprofit/NGO |
| Service Provisions 1: Intervention - (Value) | The Newpin Program is an 18-month centre-based program that has been designed to strengthen family engagement and has an established track record in ensuring that more children are able to live safely with their parents. Three Newpin centres will be established across metropolitan Adelaide. |
| Outcome Payment Commitments 1: Organisation ID - (Value) | INDIGO-ORG-1341 |
| Outcome Payment Commitments 1: Organisation Role Category - (Value) | Government/Public Sector/Public Bank |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Currency - (Value) | USD |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount - (Value) | 20600000 |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount USD - (Value) | 20600000 |
| Investments 1: Id | investment1 |
| Investments 1: Organisation ID - (Value) | INDIGO-ORG-1257 |
| Investments 1: Investment Commitment - Currency - (Value) | USD |
| Investments 1: Investment Commitment - Amount - Exact - (Value) | 6500000 |
| Investments 1: Investment Commitment - Amount USD - Exact - (Value) | 6500000 |
| Investments 1: Maximum Potential loss - (Value) | 50% of principal |
| Investments 1: Maximum Potential Return - (Value) | 9.9% p.a. max return. Fixed coupons of 2% p.a. for first 3 years Performance coupons in years 4-7 which are dependent upon program outcomes. Target return 5.8% p.a. |
| Intermediary services 1: Organisation ID - (Value) | INDIGO-ORG-0013 |
| Intermediary services 1: Organisation Role Category - (Value) | Impact bond design |
| Intermediary services 1: Other Role Description - (Value) | All roles, except performance management (which is the role of government) |
| Intermediary services 2: Organisation ID - (Value) | INDIGO-ORG-1258 |
| Intermediary services 2: Organisation Role Category - (Value) | Legal counsel |
| Outcome Metrics 1: Id | outcomemetric1 |
| Outcome Metrics 1: Outcome Definition - (Value) | Reunification of children in out-of-home care to their families |
| Outcome Metrics 1: Target Population - (Value) | 224 families, including 314 children (approximately) |
| Outcome Metrics 1: Outcome metric target - (Value) | 25% of children are reunified with their families above the counterfactual/baseline |
| Outcome Metrics 1: Outcome validation Method - (Value) | Historical comparison |
| Outcome Metrics 1: Data source for Outcome validation - (Value) | Existing administrative data |
| Outcome Metrics 1: Primary SDG goal - (Value) | 1 |
| Outcome Metrics 1: Primary SDG target - (Value) | 1.3 |
| Documents 1: Title - (Value) | Information Memorandum - Newpin SA Social Impact Bond |
| Documents 1: URL - (Value) | https://golab.bsg.ox.ac.uk/documents/Newpin-SA-Social-Impact-Bond-Information-Memorandum_Jan21.pdf |