Treasury Dept. Announces $66.3 Million in Funding for Social Impact Partnership Grants; Applications Due May 22, 2019
Posted @ Thursday, February 21, 2019 By Zach Israel
Posted in [ Blog, Grants ] | 0 Comments
On February 21, 2019, the Treasury Department’s Office of Economic Policy published in the Federal Register its Notice of Funding Availability (NOFA) to invite applications from State and local governments for awards under the Social Impact Partnerships to Pay for Results Act (SIPPRA), which was signed into law on February 9, 2018.
An award recipient will receive payment if a specified outcome of the social impact partnership project is achieved, as determined by the project’s independent evaluator. The payment to the grantee cannot exceed the value of the outcome to the federal government. As stated in the NOFA, applicants must propose to carry out a “social impact partnership project” designed to produce one or more measurable, clearly defined outcomes that result in social benefit and federal, State, or local government savings through one or more of 21 qualifying outcomes. State and local governments may also work with other partners in achieving the qualifying outcomes, including investors, service providers, and intermediaries. Treasury anticipates making between five and fifteen grants for social impact partnership demonstration projects under this NOFA.
Treasury expects to award up to $66,290,000 for SIPPRA competitive project grants, with 50 percent of the funding allocation reserved for initiatives that directly benefit children. In addition, State and local governments receiving project grants will be eligible to receive up to 15 percent of the project grant to pay for all or a portion of the cost of a statutorily required independent evaluator, which will be paid to conduct an independent evaluation regardless of whether outcomes have been met. Treasury expects up to approximately $9,940,000 to be available to pay for the costs of independent evaluators. Treasury encourages all potential applications to submit a Notice of Intent to Apply on or prior to Monday, April 8, 2019 via email to SIPPRA@treasury.gov and applications are due by Wednesday, May 22, 2019. Treasury will also be issuing a separate NOFA later in 2019 for SIPPRA feasibility study grants.