PFS, born as “social impact bonds” in the United Kingdom in 2010, launched in the US in 2012. As of early 2017, more than a dozen US projects have launched, one has completed, and more than 50 others are in development addressing such issues as homelessness, recidivism, and early childhood education. PFS has attracted significant attention, bipartisan support, and spirited debate.

NFF consults on and invests in PFS, helping service-providers, investors, and governments understand and build readiness for productive participation. We also lead and partner with many on PFS-related education and outreach. Our website payforsuccess.org launched in 2011, providing research and knowledge-sharing across this fast-moving and complex field. Click here for an overview of NFF’s PFS activities.


Our Pay for Success Partners Include:


Corporation for National and Community Service's Social Innovation Fund

Laura and John Arnold Foundation

Rockefeller Foundation

The James Irvine Foundation

The Joyce Foundation

The William and Flora Hewlett Foundation

US Government (White House Office of Social Innovation and Civic Participation; Department of Labor; Department of Justice; Office of Management and Budget)