Click here 9.45am to 3.30pm at Rheged, near Penrith, Cumbria
Supporting the Cumbrian Third Sector to thrive
The event focuses on:
- Social Value (Bill Knowles, SECOD and Conway Stewart, Cumbria CC)
- Social Impact Bonds (Speakers tbc)
- Cumbria County Council’s Procurement Strategy (Alan Ratcliffe, Cumbria CC)
- Research from the Northern Rock Foundation (Tony Chapman, Durham University) and Cumbria Third Sector Network (Carolyn Otley, Cumbria CVS) about the financial and political climate for the third sector
Social Value is about maximising the impact of public expenditure to get the best possible outcomes. It looks at what is created, and sometimes what is forsaken, through a commissioning process. It is therefore also about what we value in the public realm and is now recognised in legislation through the Public Services (Social Value) Act 2012. Social value considers more than just the financial transaction. It includes (amongst lots else) Happiness, Wellbeing, Health, Inclusion and Empowerment.
Social impact bonds (SIBs) are designed to help reform public service delivery. SIBs improve the social outcomes of publicly funded services by making funding conditional on achieving results. Investors pay for the project at the start, and then receive payments based on the results achieved by the project.
The impetus for the Third Sector Trends Study came from the Northern Rock Foundation (NRF) itself. The Foundation, a major funder of the sector in the North East and Cumbria, felt there was a real need for a better understanding of the scale, dynamics and support needs of voluntary and community organisations (the ‘Third Sector’). That would be valuable in demonstrating the contribution the sector makes; it would be a great help in focusing support; and, more generally, would assist organisations in the sector to serve the community effectively. NRF saw the Third Sector Trends Study as an investment in the sector that would help not only Third Sector Organisations (TSOs) themselves, but also sector infrastructure bodies, funders and government agencies. It was envisaged that this research would help inform funding decisions, and assist policy and planning in the sector.
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