Aspire Social Impact Bond Investor Update June 2018
Dear investor,
At the end of this month, the Aspire Program will celebrate its first year of providing service. Progress reports are showing positive signs for the 91 participants who have been enrolled in the program to date.
We are delighted to share that 50 of those participants have been housed, and we continue to see an increase in the availability of housing as a result of the transfer of housing stock from Housing SA to community housing providers.
We have also seen an increased focus on employment and education. Just under one in five participants have obtained a job, and more are commencing the phase of the Aspire Program that will support them in becoming more engaged in the workforce.
Above: Aspire program participant picking up the keys to his new accommodation
Other types of supports provided include assistance liaising with external agencies, help with moving into a property, mental health related support, and transport to services and training.
100% of progress reports undertaken with participants indicate an increase in participants' wellbeing and self-worth. In the case of Rose, who was referred to the Aspire Program in November last year, moving into a property in Camden Park meant that her daughter was able to move in with her again.
When Rose was referred to the Aspire Program, she had been couch surfing for a number of years, and did not have her children in her care due to her lack of stable accommodation. Rose often said that not having her children in her care exacerbated the depression and anxiety that she experienced. Since moving into her property in March this year, Rose’s daughter has moved in with her full time, and Rose says that employment is her next goal!
"I feel like we're part of something big"
For the past five years, Tim Best, an Aspire Program Case Navigator at Adelaide’s Hutt Street Centre, has been helping people experiencing homelessness.
Best joined the Aspire Program when the Aspire SIB launched last year, and says it’s the first opportunity he’s had to take a long-term approach with people who have a history of sleeping rough.
Planning is underway for the first extraction of outcome data, including independent certification of results by Deloitte. The first year’s data will cover only a relatively small number of individuals and results will need to be interpreted with caution, however we are looking forward to the insights it will provide. An update will be provided to investors in the first Annual Report, scheduled for December this year.
Thank you for your continued support for the Aspire Program.
Elyse and Casey
Impact Investing, Social Ventures Australia
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