Social Impact Partnerships to Pay for Results Act Demonstration Projects

Summary

The Department of the Treasury (“Treasury”) is issuing this Notice of Funding Opportunity (“NOFO”) to invite applications from State and local governments for awards under the Social Impact Partnerships to Pay for Results Act (“the SIPPRA statute”). An award recipient (“Awardee”) 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 Awardee must be less than or equal to the value of the outcome to the federal government over a period not exceeding ten years from the start of the project. Awards made under this NOFO will be administered by Treasury or by another federal agency with expertise in the social benefits addressed in the proposed project. Treasury expects to award up to approximately $10.2 million in competitive project grants under this NOFO. State and local governments receiving project grants will be eligible to receive a separate grant for up to 15 percent of the project grant amount to pay for all or a portion of the cost of a statutorily required independent evaluation, which will be paid regardless of whether outcomes have been met. Treasury expects up to approximately $1.6 million to be available to pay for the costs of independent evaluations under this NOFO.