Social Impact Investing

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SOCIAL IMPACT INVESTMENT: BUILDING THE EVIDENCE BASE 5.4.1.2 Services supporting families with young children: what works? 5.61 Services to support families represent a different type of ‘investment’ expenditure and clear links with later life outcomes (in some cases creating returns decades after an intervention). Relative to the ‘treatment’ of frailty in old-age, family supports are an investment designed to ‘prevent’ children from being unprepared for school, the economy and society. Moreover, there is evidence of unmet demand for childcare in different countries of the OECD, as well as evidence of increasing public commitment to family services in every country in relative terms (the exception is Japan, where overall family spending has tripled, and although absolute level of family service spending has increased, this is relatively lower than cash spending). 5.62 Service interventions for families and children in France, the United Kingdom and the United States that have been subject to RCTs, show that: 23 Nurse-family partnerships and home health visits providing pre- and post-natal care for low income mothers and their infants in their own homes in New York, Memphis, and Washington produced positive gains in intended child well-being (including educational outcomes) and parenting outcomes including parenting practices (Greenberg and Shroder, 2004). Integrated childcare interventions in the United States (North Carolina’s Abecedarian programme and Michigan’s Perry Preschool), although relatively small (109 and 123 participants, respectively) produced large, long-term gains in education and health. These results have persisted over several decades, and in the case of the Perry Preschool service, early childcare also produced benefits in adult income and employment (Schweinhart and Weikart, 1993; Schweinhart, 2003). Evaluations of general family supports had mixed outcomes, with positive outcomes from the French intervention in Créteil that actively engaged parents and school to remedy truancy and disciplinary issues, and the Carrera programme in the United States which offered integrated support services to teenagers to improve educational engagement. Among the other family support interventions aimed at providing services for parent and child well-being, there were few benefits. Practices here included: case management and integrated service delivery (U.S. Comprehensive Child Development Programme), home visits by “supportive listeners” or community groups (British Social Support and Family Health Programme), and case management to teen mothers (the Young Families Can, Phoenix, United States) (OECD, 2014f). 5.63 Mobile home health units, and delivery of services in the home were successful in producing the desired social outcomes due to benefit of home service that reduce service take-up barriers (affordability, motivation etc.) and the chance it provides to professionals to gauge the full extent of the family living conditions and needs (McKeown, 2000). Childcare practices were successful where multiple integrated services (e.g. education, nutrition, health) are provided in childcare settings for the most at-risk children and less successful where fewer at-risk families took up the service (see OECD, 2104f). Finally, for more general family service interventions, successful interventions included engaging with parents in the school (for truancy and discipline), and less successful interventions included comprehensive support (parent and child well-being), case working (teen pregnancy) and supportive listening (maternal and child health – see OECD, forthcoming 2014). 5.64 Some key messages for SII here include: the highest social returns are found in the most vulnerable groups, although these groups will often require more intensive services; returns on social interventions in childhood may take many decades to come to fruition; and, providing services in people’s homes, and to family units, creates unique opportunities for tailoring care to specific needs. 23 . The following evidence is summarised from OECD 2014g, Chapter 3, section 3.4. © OECD 2015 77
SOCIAL IMPACT INVESTMENT: BUILDING THE EVIDENCE BASE References Adema, W., P. Fron and M. Ladaique (2011), “Is the European Welfare State Really More Expensive?: Indicators on Social Spending, 1980-2012; and a Manual to the OECD Social Expenditure Database (SOCX)”, OECD Social, Employment and Migration Working Papers, No. 124, OECD Publishing. http://dx.doi.org/10.1787/5kg2d2d4pbf0-en Bird, S., Kurowski, W., Dickman, G K, Kronborg, I. (2007) “Integrated care facilitation for older patients with complex health care needs reduced hospital demand” Australian Health Review August 2007 Vol 31 No 3. DPMC (2012) Government Response to Senate Economics References Committee Report ‘Investing for good: the development of a capital market for the not-for-profit sector in Australia’, June 2012, downloaded at http://www.dpmc.gov.au/publications/docs/government-response-investing-forgood.pdf, August 2014. ECNL (2009) ECNL Study on Recent Public and Self-regulatory Initiatives Improving Transparency and Accountability of Non-profit Organisations in the European Union, April 2009. Esposito, R. (2013) The Social Enterprise Revolution in Corporate Law: A Primer on Emerging Corporate Entities in Europe and the United States and the Case for the Benefit Corporation. William and Mary Business Law Review, Vol.4, Issue 2, Article 7. Gallup World (2014) Gallup World Poll, www.gallup.com/strategicconsulting/en-us/worldpoll.aspx. Greenberg, D. and M. Shroder (2004), The Digest of Social Experiments: Third Edition.” The Urban Institute Press, Washington, DC. Guardian (2014) Tesco Unlocks its Landbank to Build 4,000 New Homes: downloaded here, August 2014. HBSC (2010) Health Behaviour in School-aged Children Study. See HBSC.org. Heckman, J. J., and Masterov, D. (2007) The Productivity Argument for Investing in Young Children, NBER Working Paper. No. 13016, Cambridge. MacAdam, M. (2008) “Frameworks of Integrated Care for the Elderly: A Systematic Review” CPRN Research Report, April 2008. OECD (2011a) Doing Better for Families, OECD Publishing, Paris. OECD (2011b) Together for Better Public Services: Partnering with citizens and civil society, OECD Publishing, Paris. OECD (2013d) OECD Health Statistics 2013, http://dx.doi.org/10.1787/health-data-en OECD (2013e) Government at a Glance, OECD Publishing, Paris. OECD (2013c), Education at a Glance 2013 – OECD Indicators, OECD Publishing, Paris, http://dx.doi.org/10.1787/eag-2013-en. 78 © OECD 2015
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Fund Azzad Ethical Mid Cap Fund Bri
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development in the US, or are made
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concern, and submitting and voting
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sustain land trusts, to a meeting o
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that are often excluded from market
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Some organisations that have used S
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it helps identify the critical sour
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and shareholder trust through posit
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Approaches Some commentators have i
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Wieland and Handfield (2013) sugges
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EthicalQuote (CEQ) tracks reputatio
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Displaying commitment to CSR is one
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Brand Differentiation CSR can help
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takes health and safety, diversity
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advance with the practice of CSR wh
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Stakeholder Influence One motivatio
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Regulation Fifteen European Union c
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jurisdictions. E.g., some jurisdict
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"Impact investments can be made in
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venture capital community. Investor
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countries via local intermediaries.
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determining views of affected commu
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Another measure of economic impact
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The Board for the CCEG was to inclu
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17 Love Relationship Online dating
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Social Value Act 2012 legislation.
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Development released a report outli
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Benefits and Costs of Social Impact
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UK On 18 March 2010, Secretary of S
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US Massachusetts: The second of two
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US Federal: The U.S. Department of
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would establish a five-year pilot p
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We are dedicated to finding ways to
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In the past, public monies have oft
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indicate that more Americans want t
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Youth" to "Opportunity Youth" in or
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income must file a Form 990. The fo
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In its first three years, SIF has a
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The Office of Social Innovation pri
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of Management at UCLA; and launched
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Notes _____________________________
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Investing for Impact Case Studies A
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Contents What is Impact Investment?
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What is Impact Investment? Impact I
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A case study approach in an asset a
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Segments of Impact Investors High T
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Foundations Like high net worth ind
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in the developed and the developing
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By creating mechanisms through whic
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Asset Allocation Framework Asset cl
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Cash Shorebank Deposit Program fina
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Mezzanine/Quasi Equity Instruments
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Venture Capital Bridges Ventures CD
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Real Estate JP Morgan Urban Renaiss
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absolute return (hedge funds) BelAi
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senior debt Root Capital Impact Fir
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Venture Capital Aavishkaar Impact F
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eal estate Ignia Impact First Inves
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senior debt Root Capital Layered St
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The New York City Acquisition Fund
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Appendix Methodology The Investing
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Websites •• Bridges Ventures: h
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Cash Quasi Equity Public Equity Buy
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Global Research 29 November 2010 Im
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Impact Investments: An emerging ass
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Advocacy Foundation Publishers The
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XVI for Drug-Free Communities Landm
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Vol. VIII 2022 ComeUnity ReEngineer
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Vol. XV 2029 Inner-Cities Revitaliz
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The e-Advocate Journal of Theologic
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Issue Title Quarterly Vol. I 2015 I
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The e-Advocate Juvenile Justice Rep
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2018 - The Theological Law Firm Aca
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About The Author John C (Jack) John
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Social Impact Investing

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