The kernel of Mustard Seed’s genesis revolves around the Virtuous Venture CycleTM (vvc) – last year we published our first report (dog- matically!) outlining how and why we believe ‘lock-step’ ventures will win to deliver outsized financial and social returns. As we con- tinually look to learn and improve how we do things, we’ve set out in this year’s report to delve into a specific facet of what we’ve come to identify as the binding factor of the vvc. The Goodwill Dividend.