TY - JOUR
T1 - Social finance funding model for animal shelter programs
T2 - Public–private partnerships using social impact bonds
AU - Kim, Jasper
N1 - Funding Information:
The program is initially funded by SIB social impact investors: for example, individual philanthropists, philanthropic organizations, pension funds, mutual funds, high-net-worth individuals, insurance companies, or financial institution investors (Loder, 2011). The government is a key SIB party that repays principal and interest to the social impact investors if the program is deemed unsuccessful.
Publisher Copyright:
© Koninklijke Brill NV, Leiden, 2018.
PY - 2018
Y1 - 2018
N2 - Funding for animal shelters is often a scarce resource, representing a major challenge affecting many shelter programs in the United States and beyond today. Funding issues and budgetary constraints are often exacerbated by the high rate of animal intake levels relative to adoption rates, the availability of resources to treat medical conditions, and funding for other related programs that may lower euthanasia rates, such as spay and neuter programs. This article proposes an alternative funding option for animal shelter programs using a unique social finance funding model incorporating public-private partnerships and social impact bonds. This social finance model is directly aimed at providing greater funding for animal shelter programs, while also increasing transparency and social impact outcomes. If utilized, the social impact bond model can complement and build upon (but not completely replace) existing funding sources that are critical to saving nonhuman animal lives while benefiting society at large.
AB - Funding for animal shelters is often a scarce resource, representing a major challenge affecting many shelter programs in the United States and beyond today. Funding issues and budgetary constraints are often exacerbated by the high rate of animal intake levels relative to adoption rates, the availability of resources to treat medical conditions, and funding for other related programs that may lower euthanasia rates, such as spay and neuter programs. This article proposes an alternative funding option for animal shelter programs using a unique social finance funding model incorporating public-private partnerships and social impact bonds. This social finance model is directly aimed at providing greater funding for animal shelter programs, while also increasing transparency and social impact outcomes. If utilized, the social impact bond model can complement and build upon (but not completely replace) existing funding sources that are critical to saving nonhuman animal lives while benefiting society at large.
KW - Animal shelter programs
KW - Funding
KW - Public-private partnerships
KW - Social impact bonds
UR - http://www.scopus.com/inward/record.url?scp=85053221134&partnerID=8YFLogxK
U2 - 10.1163/15685306-12341521
DO - 10.1163/15685306-12341521
M3 - Article
AN - SCOPUS:85053221134
SN - 1063-1119
VL - 26
SP - 259
EP - 276
JO - Society and Animals
JF - Society and Animals
IS - 3
ER -