NSW Newpin Social Benefit Bond sees fifth year of success
13 August 2018
Australia’s first social impact bond, the Newpin Social Benefit Bond (Newpin SBB), has continued to perform well in its fifth year of operation, with the opening of three new Newpin centres in 2017 representing a significant step-up in the scale of the program. This year also saw the number of children successfully restored to the care of their families grow to 272, representing an overall restoration rate of 63.3% over the life of the program so far. As a result, the Newpin SBB has now delivered a 13.5% p.a. financial return to investors.
The Newpin SBB is a financial partnership between the NSW Government, Uniting and Social Ventures Australia (SVA) that funds the operation and expansion of the Uniting Newpin program. The purpose of the highly successful program is to restore children in out-of-home care to the care of their parents by creating and supporting safe family environments, and to prevent children at risk of significant harm from entering out-of-home care in the first place. This vital work is achieved through an intensive 12-18 month therapeutic course for families with young children, and through the operation of centres supporting both mothers and fathers.
This year, Uniting Newpin celebrates its twentieth anniversary in Australia, which includes five years’ operating under the Newpin SBB arrangement. Uniting Executive Director Tracey Burton was full of praise for the Uniting Newpin staff who over the years have witnessed and contributed to the impact of the program firsthand for hundreds of families:
“I love the way the Newpin program works with people in a genuine and respectful way, acknowledging any trauma that parents have experienced. It empowers them to move forward and enables a shared journey which leads to the common goal of restoring children back to their families.”
There are now eight Newpin centres in NSW, and the Newpin program has also been rolled out in Queensland under the Newpin Queensland Social Benefit Bond delivered by UnitingCare Queensland.
Elyse Sainty, Director of Impact Investing at SVA commented:
“We are so pleased to see the Uniting Newpin program reach this milestone with such resounding levels of success. In its fifth year the program has continued to grow and positively support children and their families, with far-reaching impacts for those involved.”
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About Social Ventures Australia
Social Ventures Australia (SVA) is a social purpose organisation that works with partners to improve the lives of people in need.
Our range of services are designed to scale social impact, helping business, government and philanthropists to be more effective funders and social purpose organisations to be more effective at delivering services.
Uniting has a proud history of providing aged care, disability, community services and chaplaincy to the communities of New South Wales and the Australian Capital Territory, on behalf of the Uniting Church. At Uniting, we take real steps to make the world a better place by working to inspire people, enliven communities and confront injustice. We also get involved in social justice and advocacy issues that impact the people we serve. As an organisation we celebrate diversity and welcome all people regardless of lifestyle choices, ethnicity, faith, sexual orientation or gender identity.