Social Finance to Manage Expanded Pay It Forward Funds
Economic Development Authority | State of New JerseyState · Trenton, NJ- Disclosed value
- $5,000,000 (managed funding; aggregate PIF pool rises from $14.8M to $19.8M)
- From agenda
- Document date
- Jun 12, 2024
The 30-second brief
Through HESAA’s existing program management contract, Social Finance will administer an additional $5 million in Pay It Forward Program funds provided via NJEDA’s MOU with HESAA, increasing the total PIF pool to $19.8 million. The organization will continue to manage training loans, stipends, and wraparound services for participants in health care, technology, and clean energy programs.
Social Finance holds this financial services contract with Economic Development Authority | State of New Jersey. Its other public contracts on record include work for Higher Education Student Assistance Authority | State of New Jersey and Sierra County.
See who signed off on this contract.
See who signed offFree account · 30-second setup · No credit card
Contract details
- Contract type
- Financial Services
- Amount
- $5,000,000 (managed funding; aggregate PIF pool rises from $14.8M to $19.8M)
- Document date
- June 12, 2024
- Vendor
- Social Finance
- Source document
- nj-economic-development-authority-board-meeting-agenda-june-12-2024_69b.pdf (Agenda)
Social Finance's other public contracts
More Economic Development Authority | State of New Jersey contracts
Questions about this contract
Who was awarded the financial services contract by Economic Development Authority | State of New Jersey?
Social Finance was awarded this financial services contract by Economic Development Authority | State of New Jersey, as recorded on June 12, 2024. The contract value is $5,000,000 (managed funding; aggregate PIF pool rises from $14.8M to $19.8M).
How much is the Social Finance contract with Economic Development Authority | State of New Jersey worth?
The Social Finance contract with Economic Development Authority | State of New Jersey is valued at $5,000,000 (managed funding; aggregate PIF pool rises from $14.8M to $19.8M), covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a agenda record.
Where was this contract approved?
This contract appears in nj-economic-development-authority-board-meeting-agenda-june-12-2024_69b.pdf (Agenda), dated June 12, 2024 from Economic Development Authority | State of New Jersey. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
Show 2 more questions
What other contracts does Social Finance hold?
Social Finance may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Economic Development Authority | State of New Jersey currently buying?
Explore Economic Development Authority | State of New Jersey's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.