WAMC: Non-profits share concerns on bond-funded social programs (2011-06-27) - 0 views
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Non-profits share concerns on bond-funded social program
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Under the funding model, also known as "pay for success," organizations would receive the money of private investors or investment groups who purchase bonds from the government that are linked to specific program benchmarks.
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Joe Kriesberg, executive director of the Massachusetts Association of Community Development Corporations, said the bonds could be an appropriate way for governments to fund prevention programs, but that there will be several challenges going forward in any type of SIB funding structure.
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"I'd be really concerned about corporate ideals taking precedence over a non-profit's mission, and I would be equally concerned about the stigma of government money sometimes really limiting what you can do. How can you promote the real, true essence of a non-profit's mission with the restrictions that a corporation or a government might put on that?"
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Bryan Ayers, CEO of Great Barrington-based Community Health Programs, said the bonds would offer a new way to fund long-term community-based prevention and health programs, but that to be truly effective investment groups must be willing to wait for results.