Outcomes for Children Limited (OfC) was established in 2014 as Core Assets Group’s social business for the securing and delivery of Social Impact Bond (SIB)/large Payment by Results (PbR) opportunities in the UK.
OfC has been incorporated with social objects and with a condition that at least 51% of any distributable profits:
- Be invested in the business of the Company to increase the reach of its services;
- Application and advancement of its objectives; or,
- Distributed or donated to other social sector organisations.
These were conditions that were necessary for OfC to be able to attract social investment for SIB type opportunities. OfC has secured two Payment by Results/SIB underpinned contracts to date.
Birmingham City Council
The purpose of the new service is to transition young people in residential care to intensive therapeutic foster care.
- Service delivery commissioned from CAG’s FCA, FP & ACS all using FCA’s existing Team Parenting based ‘stepdown’ model
- Aims to work with around 100 young people over at least four year
- Binary outcome of 52 weeks in fostering after transition from residential care
- Income is approximately two thirds fee for service and one third PbR
The OfC specific staff working in and costed to the contract are: project manager; part-time administrator; and sessional mentors.
North Somerset Council
The purpose of the service is to reduce the number of young people in care through an edge of care intervention
- Service delivery commissioned from Core Assets Children Services using their Safer Stronger Families model
- Aims to work with around 240 10-16 year old young people over at least four years
- Cohort 1 is reunification of young people in care to their family and Cohort 2 from entering care that are at the edge of care
- Contract is 100% PbR with stability outcomes of at around 16 weeks, then daily stability for a further year, with payment outcome based upon progress against the Outcomes Star
- The OfC specific staff working in and costed to the contract are: part-time contract / performance manager
- OfC is led by Executive Director Paul Riley, who has also provided expertise to Key Assets in their pursuit of international SIB opportunities.
“The Outcomes for Children service gives real wrap-around support to both the foster carer and the young person to ensure a stable and sustainable placement, and allows for a much more planned matching and transition process.”
Cabinet Member for Children and Family Services, Birmingham City Council.