The Newpin Social Benefit Bond
Newpin is an intensive program delivered by Uniting that helps parents build positive relationships with their children and break the destructive cycle of family relationships that lead to abuse and neglect. It has a solid evidence base and track record of successfully restoring children in out-of-home care to their families.
A social benefit bond was jointly developed by Uniting, Social Ventures Australia (SVA), NSW Treasury and the NSW Department of Communities and Justice (DCJ) to fund an expansion of the Newpin program in NSW.
SVA and Uniting raised $7 million from investors for the bond. Uniting used this finance to deliver the program from four existing centres and to open new centres over the life of the seven year bond.
DCJ referred clients in need of support that could benefit from the program. More information on the structure and details of the bond can be found in the Newpin information memorandum.
The bond’s key performance indicator is the restoration rate of children who enter the program. This rate is the proportion of children referred to the Newpin program that are returned from out-of-home care to their families. Returns to investors are determined by this rate.
In 2020, the Newpin Social Benefit Bond reached maturity after seven years of operation. Over its term, the Newpin Program restored 391 children to the care of their families, representing an overall restoration rate of 60.9%. This delivered a financial return to investors of 10.0% per annum. The Newpin program will continue to be funded through a new payment-by-results contract. This will ensure ongoing support to families across the state.
All family restorations are independently decided by the NSW Children’s Court. Neither Uniting nor investors make these decisions.
For more information on the Newpin bond, please contact:
Social Ventures Australia (investment information)
+61 2 8004 6729
+61 2 9407 3228