Among the pages of progress reports, and during the quarterly conference calls and annual site visits that the non-profits will host with the GCAP co-investors, such developments will be monitored by the funders. “The biggest question is: what is the board doing?” Co-investors and grantees are committed to the same protocol: to fund defined business plans that involve performance metrics and measure the use of capital while other reliable sources of funding are secured, enabling co-investors to exit responsibly.

McCutchen was in Australia last month to speak at the 2008 Social Innovation Summit, which was held in the Hunter Valley and hosted by the Macquarie Group Foundation.