Evaluation of the Aspire Social Impact Bond: Interim report

This report outlines the preliminary findings of an evaluation of the Aspire program in Adelaide, South Australia (SA). Aspire is a homelessness intervention involving more intensive case management over 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 funded by private investors through a social impact bond (SIB). 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. The preliminary findings of the evaluation indicate that Aspire is a highly effective homelessness intervention, especially for people with complex needs and/or experiencing chronic homelessness, for whom more conventional service delivery approaches may not deliver sustainable benefits. Quantitative data analysis indicates that Aspire participation is associated with people successfully exiting homelessness and sustaining their tenancies over the medium term, alongside a reduction in accessing specialist homelessness services (SHS), hospital and justice services, delivering significant cost savings to government. In alignment with prior research, the duration and intensity of supports is critical to the success of Aspire in supporting people to transition out of homelessness and deliver cost savings in the form of ‘avoided service delivery’ across multiple government sectors.