Supporting Youth Work
Supported by Government, NYA is leading Social Impact Bonds (SIB) in the youth sector to generate funds for front line delivery that demonstrates positive impacts to young people, their communities and has a return on investment. NYA is also trailblazing for a new form of SIB – less complex, shorter term yet retaining effectiveness.
What is a SIB?
A Social Impact Bond is a contract with the public sector in which a commitment is made to fund improved social outcomes, such as improved youth employment or reduced offending. If the planned social outcome takes place, the commissioner repays the investors plus a return for the financial risks they took.
NYA is piloting the SIB in Sheffield, aiming to support young people to fulfil their potential and avoid behaviour that puts them at risk. Interest in this form of innovative funding has come from a number of other local authorities, including Manchester City Council.