January 10, 2012
A new type of bond would pay off when the benefits of a government program outweigh the costs. But will investors bite?
By Katie Gilbert
In 1994, Steve Rothschild resigned from his post as executive vice president at General Mills to found Twin Cities RISE!, a Minneapolis nonprofit that provides job training to unemployed adults and helps them find jobs that pay a living wage. Ever the figures-focused executive, he immediately began wondering how the economic benefits of TCR! could be quantified, and whether any of those cash savings could be funneled back into his nonprofit somehow.
I started with the assumption that social improvement would lead to economic value, Rothschild says. Economic value is the same as cash; its no different than economic value for a business.
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