Evaluation of the Aspire Social Impact Bond: Final Report

This report outlines the findings of an evaluation of the Aspire program and social impact bond (SIB) in Adelaide, South Australia (SA). Aspire is a homelessness intervention involving more intensive case management for a longer duration than most programs which respond to homelessness. Aspire is also unusual in that it was the first homelessness intervention in Australia to be financed by private investors through a SIB. SIBs offer opportunities for innovative new service delivery models to be trialled while minimising risks for governments and service providers. Returns to the Aspire SIB investors are based on the outcomes delivered through Aspire and the associated cost savings to the SA Government. The findings of the Aspire evaluation add to a growing body of knowledge on effective responses to homelessness and the potential role of SIBs in this area.