Social investment, social enterprise

Publications from New Philanthropy Capital, Charity Commission, ClearlySo and more...

Publications
Best to borrow? A charity guide to social investment
New Philanthropy Capital, 2011
Guide to help charities understand the risks and opportunities social investment entails and the steps to be thought through before going ahead. 

Big Local-social investment guide
Big Local, 2011
Guide outlining what social investment is, the risks involved and next steps.

Charity Commission, 2011
Updated investment guidance on the legal duties and principles that apply to charity investments and the risks that trustee must address. It covers programme-related investment, revenue participation or quasi-equity, outcomes-based investment (e.g. social impact bonds), loans and loan funds, and “mixed motive” investments. 
 
Revolving Doors Agency, 2011
The savings which could be made by investing in women’s centres, using a women-specific financial analysis model to show that £1 billion could be saved over five years if £18 million a year was invested.
 

Guide for the ambitious social entrepreneur
ClearlySo, 2012
This guide to social entrepreneurship, sponsored by the City of London Corporation, aims to be a comprehensive source of information on raising capital, legal structures, tax regimes, networks, sector intelligence and support organisations.

Antony Elliott, NESTA, 2011
Based on research which concludes that "mass affluent" individuals (with £50,000 to £1 million in investments), mainly those under 40, could be a major new source of social finance if they were offered a social return, as well as a financial return comparable to mainstream products.
 
NESTA and Bates Wells and Braithwaite, 2011
Advocates a bespoke regulator for social investment, since current arrangements for regulation by the Financial Services Authority will prove very expensive for modestly-sized civil society organisations. 
 
Katie Hill, ClearlySo, 2011
Report commissioned by The City of London Corporation, City Bridge Trust and Big Lottery Fund on how to expand the availability of social finance and the factors that would encourage institutional investors on a larger scale. Presentation slides here.
Ministry of Justice, 2011
Preliminary report on the Social Impact Bond pilot. Among its findings are that contractual arrangements were complex, difficulties occurred in generalising outcome measurements, and that the Peterborough pilot was too small to deliver substantial savings. 
Dr. Rupert Evenett and Karl H. Richter, Social Investment Business in partnership with TheCityUK, 2011
The steps necessary to bring about a mature, thriving, social impact investment market. This report covers the perspective of organisations already using and seeking social investment, and comments from financiers and policymakers. 
 
New Philanthropy Capital, 2011
Impact evaluation of the School’s work and social impact from 1997-2011: executive summary and case studies.
 
Roger L. Martin and Sally Osberg, Stanford Social Innovation Review, 2007
Social entrepreneurship is attracting growing amounts of talent, money, and attention but along with its increasing popularity has come less certainty about what exactly a social entrepreneur is and does. The authors argue that it’s time for a more rigorous definition. 

Social Impact Bonds: The One Service. One Year On
Social Finance, 2011
The first year report on the Peterborough project shows over 500 individuals now in the community and voluntarily part of the service. There is still much enthusiasm for the project from criminal justice experts and practitioners. Peterborough Prison has begun to align some of its services for prisoners with the programme.
 

The social enterprise guide for people in local government
Social Enterprise UK, 2012
Intended for senior managers, directors and heads of service, commissioners, heads of procurement or economic development and regeneration managers, this guide sets out to explain how social enterprises can help meet local authorities’ strategic objectives, and gives practical advice about how to engage, procure and commission from social enterprises, looking at delivery of services in health, education, housing and transport.

Iona Joy, Lucy de Las Casas and Benedict Rickey, NESTA, 2011
New Philanthropy Capital research arguing that the Big Society Bank should provide grants and loans at below market rate or "it will fail to support those that it is set up to support and displace capital in investments that would otherwise have been provided by a commercial investor". The report takes into its scope social finance and financial exclusion, both needing patient capital, and subsidies to grow capacity, fund overheads and develop new products. 

 

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