St Basils - Bridges Fund Management

    

    
























 






    
	            
			    
    



		
		    

    
    
    





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St Basils

Delivering support and community engagement to reduce youth homelessness

Investment Strategy

Outcomes Contracts

Theme

Stronger Communities

Date of initial investment

December 2014

Bridges Executives

Andrew Levitt
Adam Kybird

Challenge: Around 60,000 young adults aged 18-24 in England experience homelessness each year. Many of these have complex needs and a large number are also classed as NEET (Not in Education, Employment or Training). Due to the nature of government homelessness services, this group often falls through the cracks of provision, failing to get the support they need. Without effective intervention, these young people risk a considerably poorer future than their peers.

Investable Solution: St Basils, a leading homelessness charity based in Birmingham, is delivering a new programme called ‘Fair Chance, Rewriting Futures’. Focused on Birmingham, Coventry, Walsall & Solihull, its aim is to support around 300 of the most vulnerable young people out of homelessness and into accommodation, education, training and employment. The programme is being financed by a social impact bond commissioned by the Fair Chance Fund, a Department of Communities & Local Government initiative. The Bridges Social Impact Bond Fund is one of the investors in this SIB.

St Basils is delivering a community-based programme to engage young people effectively. The delivery team comprises a core group of support workers who work with a larger group of ‘community coaches’. These coaches come from a diversity of backgrounds and professions and will all have differing approaches to supporting young people. This will enable the project to match young people with an appropriate community coach, thereby providing a relevant and supportive link into education, employment and the community. The contract is structured on a payment-by-results basis, which means the provider will be paid for achieving certain outcomes – for instance, if the young people on the scheme are able to successfully enter education, achieve a qualification, enter employment and sustain the job.

Outcomes: The Fair Chance Fund programme will aim to deliver positive social impact in four distinct categories:

  • Direct beneficiary impact through delivery. The programme will work with around 300 young people, aiming to support at least 250 into accommodation, 200 into education and 75 into sustained employment
  • Direct societal impact through savings in costs for local authorities and central government from lower life time reliance on accommodation / care services
  • Systemic social policy impact through trialling new models to prevent young people becoming homeless and NEET
  • Systemic market-building impact as the first SIB dealing with this cohort and for these organisations, it will help demonstrate the benefits of this commissioning approach in youth homelessness and strengthen the three organisations with a view to helping them deliver further contracts

www.stbasils.org.uk