Social Finance Funding Model for Animal Shelter Programs: Public-Private Partnerships Using Social Impact Bonds

Abstract

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.