Help bring Social Impact Bonds to the rural South! Here's just a small sampling of the proposed projects we are hoping to launch.
Social Impact Bonds and ARPI
Our initial launch effort is to be the first organization to bring effective social financing programs to the rural South. ARPI aims to use a new social financing tool known as a Social Impact Bond (SIB), which was first used in Peterborough, England in 2010. In a SIB agreement, ARPI will work with a government agency to identify social problems that need prgrammatic solutions. ARPI will then develop a program and set a specific, measurable outcome that it and the government wants achieved. ARPI will then find investors who will provide the working capital for ARPI to manage the program. If the outcome is met, the government releases an agreed-upon sum of money to repay the investors with a return for taking on the upfront risk. If the agreement fails, the government is not on the hook, and the investors do not get repaid with public funds.
Project Mimi looks to use a social impact bond model to raise private capital and connect them with local governments in order to develop a training and certification program for a vetted population that is unemployed or without a high school diploma. The program will develop certified nursing assistants who have completed an education program approved by the Georgia Department of Community Health, and help them pass the National Nurse Aide Assessment Program exam. All with the focus of fighting unemployment and providing quality elder care practitioners.
The amount the State of Georgia spends on corrections is unsustainable. Georgia currently spends about $1 billion a year on corrections. Project Enotah looks to use a SIB model and to provide high-impact intervention to at-risk young adults across north Georgia who are in the probation system or exiting the juvenile justice system. Because this population has a 25% chance of being reincarcerated, this project will seek to decrease the days of incarceration for these individuals, which will save our state and local communities scarce resources.