1. Roundtable on Social Impact Investing in Health 16 February 2016 Susan Pascoe AM Commissioner Australian Charities and Not-for-profits Commission susan.pascoe@acnc.gov.au Social Impact Bonds: The buck stops at the board

2. A SHARED UNDERSTANDING Don’t assume we all understand the model; Understand the roles and the aspirations of the participants; Understand the attitude of the Regulator

3. SOCIAL FINANCE IN AUSTRALIA Solving wicked problems needs resourcing; Resources of government and philanthropy not enough; Social Impact Bonds are a new tool in the box.

4. WHAT DOES THE REGULATOR THINK?

5. PROFIT IS OK Not for Profit has a principal purpose other than profit; Profit can be a means to a charitable purpose; Keep the focus on the purpose but use profit as a means to an end

6. WHAT ABOUT GOVERNMENT? Charities can work with others to achieve purpose; Government and Private investment and NFPs can work together; Don’t compromise your purpose

7. The Board must be in control; Custodians of purpose; Stewards of assets; Mitigators of risk; Sentries of Solvency Diligent and Careful

8. www.acnc.gov.au/contact Phone: Call 13 ACNC (13 22 62) weekdays 9am-6pm AEST. Email: advice@acnc.gov.au advice@acnc.gov.au Fax: 1300 232 569 Thank you.