Aspire Social Impact Bond Investor Update October 2017
A lot has happened since the Aspire Social Impact Bond (Aspire SIB) formally kicked off at the end of March, and we thought you might like to hear about how things are travelling.
Referrals to the Aspire program commenced as planned at the beginning of July. The first 25 participants have been enrolled, and early indicators suggest positive engagement with the program. Participants referred to the program have presented with varied and complex backgrounds including mental health issues, alcohol and drug usage and difficulty accessing stable accommodation and employment. Only half of the participants have recorded completing secondary school.
Hutt St Centre (HSC) have recruited 10 people into the Aspire team, a mixture of existing HSC staff members and new recruits. The Aspire Program Manager Sam Barrett says the team has a great mixture of experience and have hit the ground running.
“There is a real sense of excitement and focus in being part of the first South Australian SIB and being able to offer such extensive and long-term support to our clients,” Barrett says.
The team has moved into new premises dedicated to supporting Aspire participants, which is located not far from the main HSC site. A new client management system has been rolled out to assist with data collection, management and reporting. It provides an opportunity for both the participants and staff to measure satisfaction and outcomes.
HSC is also delighted to have been contacted by two investors with offers of additional pro-bono support for Aspire participants to assist with their moves into housing.
A services commencement launch at the new premises was held at the end of June, which was well attended by government representatives, including the Hon Zoe Bettison MP, the local investor community, Hutt St Centre supporters and community housing partners.
Above: The Hon Zoe Bettison MP (Minister for Social Housing, SA Government) at a ribbon cutting ceremony to celebrate the launch of the Aspire Program and opening of the new Aspire premises in June 2017 with the Chair of the Hutt St Centre Board of Directors, Phil Donato OAM, Julie Duncan (State Manager – Housing Choices formerly Common Ground Adelaide) and Frank O’Neill, Chair of Unity Housing Company.
Five participants housed so far: Aspire's first quarter
To date, five participants have been placed into stable living arrangements through Hutt St Centre’s partnership with six local community housing providers. A large transfer of housing stock from Housing SA to community housing providers occurred in late September. This transfer will provide the Aspire Program with increased housing availability.
After an extended period of homelessness, John finds a home
One of the Aspire Program's first housed particpants is John*. The 49-year-old had a long history of homelessness. In the six months prior to his referral, he had been sleeping in a donated sleeping bag in Adelaide's Botantic Gardens.
John was assaulted in July 2016 whilst sleeping rough, and acquired a brain injury which led to an extended hospital stay. This injury has affected John’s memory, mood and ability to function independently. After being discharged from hospital, John was staying at a short term shelter in the CBD and soon after, went back to sleeping rough.
We look forward to sharing more updates with you in the years to come. Please note that the first Aspire SIB Annual Report will be provided to investors in December 2018, covering the service delivery year ending 30 June.
Thank you for your support for what we believe is a transformational program.
Kind regards,
Director, Impact Investing, Social Ventures Australia
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