The Benevolent Society Social Benefit Bond
The Benevolent Society bond
The Benevolent Society bond is a joint venture of the Benevolent Society, Westpac Institutional Bank and the Commonwealth Bank . The $10 million bond will operate over five years to deliver the Resilient Families Service to up to 400 families and their children in NSW. The service will be delivered by the Benevolent Society.
It works with at-risk families for up to nine months, with an initial six week intensive period where staff build trusting relationships and address immediate crises in a family. Together, staff and families will deal with issues like:
- unstable housing
- debt problems
- regular income
- domestic violence
- substance misuse
- family functioning and relationships.
Over the long term, they work together so that changes will last, and families are able to cope with future challenges and use other community services to help them.
The Benevolent Society uses a Resilience Practice Framework, which incorporates professional practices and approaches that have been proven to be effective. In addition, the initial phase of the service has strong similarities with the successful US model, Homebuilders. Research shows Homebuilders has achieved significant improvements for families whose children had previously been in care or who had prior substantiated child protection reports.
Returns to investors will be calculated at the end of the Bond (in December 2018), and will be based on cumulative performance over the full term of the investment (all years). For more information on the structure and details of the bond, read the information memorandum or the presentation to investors, which summarises the memorandum.
Fourth-year results show The Benevolent Society Social Benefit Bond continues to support families to stay together. interim results to end June 2017 indicate that the service has achieved positive results and is keeping families together. Results show that 32 percent fewer children entered care compared to a control group (i.e. children not receiving the Resilient Families service).
For more information on the Benevolent Society bond, please contact The Benevolent Society or:
Westpac Institutional Bank (investment information)
+61 2 8254 9116