Benevolent Society SBB
SIB Details
| Location | Australia, New South Wales |
| Commencement date | 1 October 2013 |
| Savings area | Out of Home Care |
| Bond Amount | $10m upfront ($7.5m P class; $2.5m E class) |
| Bond terms (years) | 5 years |
Intervention Program
| Program description | Resilient Families therapeutic support program, informed by TBS’s extensive experience in working with at-risk families as well as international evidence based programs including the US Homebuilders model. |
| Treatment duration | Average of 9-12 mths per family. |
| Target population | Target Population: Families with children <6 at risk of significant harm. |
| Intervention cohort | Up to 400 Target Population families over 4 annual intakes. |
Outcome Measurement
| Metric | Number of entries into OOHC; number of Helpline reports; and number of safety and risk assessments. Based on experience of youngest child in family. |
| Counterfactual | Matched control group. |
| Outcome Calculation and Target | Performance Percentage (PP): the weighted average of improvement in 3 measures relative to Control Group: OOHC entries (66%); Reports (17%); and Assessments (17%)
No target reduction published. |
Contracting parties
| Government Agency | NSW Government – Family and Community Services |
| Service Provider | The Benevolent Society |
| Intermediary | The Benevolent Society; Westpac and CBA as lead managers |
| Evaluator | Deloitte |
Investor details
| Investors | Range of investors: HNW individuals, SMSFs, trusts and foundations, institutions. |
| Returns | Returns vary with PP:
<5% – P class breakeven; E class 100% loss 5%-15% – P class 5% IRR; E class 8% IRR 15% -20% – 6%/10.5% IRR 20%-25% – 7%/15% IRR 25%-35% – 8%/20% IRR 35%-40% – 9%/25% IRR >40% – 10%/30% IRR |
| Capital protection | P class 100% protected; E class no protection. |
Case study
| Comments | Government contracts with Perpetual as Trustee for the SPV. Component of payments not outcome linked. |
Useful links
Benevolent Social Benefit Bonds
Download the Benevolent Society Social Benefit Bond case study (PDF, 287KB)
