Our six-month investment cycle starts in the fall, when we select our area of focus. We ask for letters of interest from nonprofits that work in our focus area. We then request a full proposal from a small number of those nonprofits. We ask our semi-finalist nonprofits to make a short presentation to our partnership. The final phase of our due diligence involves full site visits by a team of our Investment Committee partners to our finalist nonprofits, culminating in our choice of an investee in the spring.