From PBS…”Rikers Island prison houses 88,000 inmates a year, many of whom are repeat offenders. In an effort to decrease the teen recidivism rate, high finance and do-good innovation have made an unlikely partnership. Economics correspondent Paul Solman explores a new way to fund government social services through private investment.
‘Here’s how it works. Investors lend money to a social service nonprofit with a successful track record. They get an interest-paying bond in return. The nonprofit then uses the investors’ money to expand its program. If the program meets its goals, saving the government money by, say, keeping people out of jail, the government pays back the investors out of the money it has saved.'”
How can we make this work for transition?… Private Investors Put Money on Decreasing Teen Recidivism Rate | PBS NewsHour | April 9, 2013 | PBS.
NYSDCDT 