What would happen if a fund granted capital to a social impact organization not on the basis of need, but according to whether its programs actually achieved their mission? 

Sometime this year, the Toronto-based MaRS is planning to launch a $200 million National Outcomes Fund aimed at providing grants to social impact organizations based on how well they achieve a set of predetermined goals. Adam Jagelewski, co-founder and executive lead of the MaRS Centre for Impact Investing, says this fund could be used to reward organizations that meet their targets. 

“If they were to achieve a performance level that is over and above what they’re currently operating on, then they would be given a bonus payment,” he says. Another option is to use private investors through a social finance model — the decision will depend on whatever the partners involved with the project d