GIIN Board Chairman Antony Bugg-Levine's impact investing program at the Rockefeller Foundation is the subject of this article, which details the work that's being done to bring social impact bonds to the United States.

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"Originating in the U.K., social-impact bonds encourage private investors and philanthropic foundations to fund privately managed social programs in areas such as health care and prisoner recidivism. If the programs succeed in reaching previously set targets - and social outcomes improve - investors receive so-called success payments from the government. If the programs don't work, the government pays nothing. In these scenarios, investors take on all the risk and the government pays only for programs that work...

"...'There simply isn't enough money in philanthropy and government alone to solve the problems that need to be solved,' Mr. Bugg-Levine says. 'There's $80 trillion in for-profit capital markets and we believe there's huge potential in unlocking some of that money and deploying it to solve social problems.'"

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