As the progress and accomplishments of the portfolio organizations are presented, it's important to keep in mind that they are in very different stages of their investment partnership with VPP and, therefore, have varying levels of achievement to date.

The portfolio organizations fall into three distinct stages of investment partnership:

• Mid-to Later-Stage Investment Partnerships show the greatest progress because they are furthest along in the implementation of their business plans.
• Early-Stage Investment Partnerships have only recently completed business planning or are in the early stages of plan implementation. Despite the early stage, these investments have already achieved significant organizational accomplishments.
• Beginning-Stage Investment Partnerships are those just completing business planning and are still in the process of defining multi-year investment partnerships.