Aspire Social Impact Bond

Investor update, July 2019

Photo: Letterbox of one of the homes an Aspire participant has moved into.

Dear Investor,

At the end of June, the Aspire Program celebrated its second year of providing services to people experiencing persistent homelessness in Adelaide. Once again it was a very busy year for the Aspire team!

Participant enrolments are back on track with original forecasts, with approximately 300 people having enrolled in the program over the first two years. 80% of participants are actively engaging with the program, which is testament to the strong rapport participants have built with their Aspire Navigators.

140 participants have been placed into stable housing, and lease retention rates are strong. There have been very few instances of evictions related to behaviour, legal issues or non-payment of rent. 

'People want to feel connected, heard and supported just as much as they want a house. This doesn’t take away from the fact that we need more housing, it’s just important to note that the process of making a home is more complex than putting a roof over someone’s head.'

Jess Dobrovic, Aspire team member  

Case study: Jack’s* story

Before Jack started in the Aspire Program in December 2018, he had experienced 13 years of homelessness and housing instability. He suffers from an acquired brain injury and schizophrenia and has an extensive history with the justice system. Jack also has a history of alcohol dependence and had presented to detox frequently in the years prior to coming to Aspire. Jack was socially isolated and had few independent living skills. He was well known to and banned from many Adelaide services.

Since starting in Aspire, Jack has engaged very well with his Navigator and has been proactively looking for opportunities to develop himself and his skills further.

Due to his complex history, it was very difficult for Aspire to locate a suitable housing outcome. However, Jack and his Aspire Case Navigator were relentless in their joint mission and after nine months Jack secured a unit in a suburb he was familiar with. Jack has maintained his unit, despite some bumps, for over six months. This is the longest stay he has had anywhere in 20 years. Jack is exceptionally proud of his achievements, as we are of him.

Jack’s situation demonstrates that support for people experiencing homelessness goes beyond a house, and that connection to community is so important in someone feeling successful and confident. 

*The actual name of the Aspire participant has been changed to respect their privacy.

Photo: Aspire participants at a cooking class at a local community centre.

There has been an increasing focus on employment and education for participants as more participants move into the Re-engage Phase of the program. Over half of Aspire participants are working with an Engagement Navigator and are focussed on community engagement, work or education opportunities. Hutt St Centre has been offering participants employment and training opportunities through a coffee cart social enterprise, allowing participants to develop a broad range of customer service and hospitality skills.

Photo: Aspire participants working at the coffee cart.

The Aspire Program was profiled at multiple community sector conferences and events throughout the year. Our congratulations also go to Hutt St Centre CEO Ian Cox, who was named a winner in Pro Bono Australia’s Impact 25 Awards for 2018. The awards recognise the most influential people in the sector as nominated and voted for by their peers. 

Thank you for your ongoing support for the Aspire Program, and we look forward to sharing the second Aspire SIB Annual Report with you in December 2019, including details of the outcomes achieved to the end of June 2019.

Elyse and Casey

Impact Investing, Social Ventures Australia

Level 7, 1 Chifley Square | Sydney, NSW 2000
socialventures.com.au | @Social_Ventures