NonprofitsNew Profit Inc

Community Improvement & Capacity Building

New Profit Inc

BOSTON, MA

Total revenue

$33.6M

Total expenses

$43.7M

Net assets

$118.2M

Grants received

$163.4M

212 grants

EIN

043396766

Tax year

2024

Mission

New profit is a venture philanthropy organization that catalyzes the impact of social entrepreneurs who are expanding access and opportunity in america. We provide capital, capacity, and community to a portfolio of organizations to increase their impact, scale, and sustainability. And we partner with social entrepreneurs, philanthropists, and cross-sector leaders to shift how the philanthropic sector pursues social change and ensures that everyone in america can thrive. Since 1998, new profit has invested over $350m in 275+ high-impact organizations serving more than 35 million people in all 50 states.

Programs

4 programs

See schedule o.

Expenses: $10.4MGrants: $622K

See schedule o.

Expenses: $4.9MGrants: $4.4M

Portfolio catalyze through our catalyze investments, we provide $100k unrestricted grants, strategic advice, and a peer learning community over one to two years. Our cohort-based model enables social entrepreneurs to build community with peers and participate in a series of in-person convenings and webinars. This programming is designed to support organizations deepening their impact and scaling their models by tackling key leadership and organizational challenges they face.our grantees are driving impact in education, health, criminal justice reform, democracy, and economic mobility.

Expenses: $4.6MGrants: $2.3M

Portfolio - portfolio performance & supportnew profit assumes a variety of roles with grantees including advisor, coach, and board member, in order to provide strategic guidance geared towards building organizations' key capabilities. We believe that increases in these capabilities including leadership, impact model, strategic management and planning, and economic model are the necessary foundation for impact, scale, and sustainability, in the long-term. Throughout the grant term, new profit also invites grantees and alumni to take part in convenings that bring together peer organizations, field experts, and philanthropic players from across our national network.

Expenses: $1.2M

Financials

FY 2024

Revenue

Contributions & grants$29.5M
Program service revenue$110K
Investment income$4.0M
Other revenue
Total revenue$33.6M

Expenses

Grants paid$16.9M
Salaries & benefits$16.5M
Fundraising$3.4M
Other expenses$10.4M
Total expenses$43.7M
Total assets$120.3M
Net assets$118.2M

People

33 listed

NameRoleCompensation

TULAINE MONTGOMERY

CEO

Board

$524K

45 hrs/wk

VANESSA KIRSCH

FOUNDER IN RESIDENCE AND SENIOR PARTNER

Board

$361K

45 hrs/wk

DOUGLAS BORCHARD

MANAGING PARTNER, COO

Board

$345K

45 hrs/wk

IAN MAGEE

MANAGING PARTNER, CFO

Board

$274K

45 hrs/wk

HENRY MCCANCE

DIRECTOR

Board

1 hrs/wk

DUNCAN MCFARLAND

DIRECTOR

Board

1 hrs/wk

KWASI MITCHELL

DIRECTOR

Board

1 hrs/wk

VALERIE MOSLEY

DIRECTOR (UNTIL 10/2024)

Board

1 hrs/wk

KRISTIN MUGFORD

DIRECTOR

Board

1 hrs/wk

MARK NUNNELLY

DIRECTOR (UNTIL 5/2024)

Board

1 hrs/wk

DEBORAH QUAZZO

DIRECTOR

Board

1 hrs/wk

JOHN RICE

DIRECTOR

Board

1 hrs/wk

BRIAN SPECTOR

DIRECTOR

Board

1 hrs/wk

VENKAT SRINIVASAN

DIRECTOR

Board

1 hrs/wk

JEFFREY WALKER

DIRECTOR

Board

1 hrs/wk

WENDY KOPP

DIRECTOR

Board

1 hrs/wk

STACY JANIAK

DIRECTOR

Board

1 hrs/wk

DAVID GERGEN

DIRECTOR

Board

1 hrs/wk

ALISA DOCTOROFF

DIRECTOR

Board

1 hrs/wk

SAM COBBS

DIRECTOR

Board

1 hrs/wk

KERWIN CHARLES

DIRECTOR

Board

1 hrs/wk

JOSH BEKENSTEIN

DIRECTOR

Board

1 hrs/wk

STEVE BARNES

DIRECTOR (UNTIL 5/2024)

Board

1 hrs/wk

MATT LEVIN

DIRECTOR

Board

1 hrs/wk

STEVE JENNINGS

CHAIRMAN

Board

1 hrs/wk

DAVID LEVY

SENIOR ADVISOR

Staff

$360K

45 hrs/wk

ELIZA GREENBERG

PRESIDENT

Staff

$343K

45 hrs/wk

DEBORAH SMOLOVER

MANAGING PARTNER,ED OF AMERICA FORWARD

Staff

$339K

45 hrs/wk

GIA TRUONG

MANAGING PARTNER, EQUITY & PROXIMITY

Staff

$249K

45 hrs/wk

SHRUTI SEHRA

MANAGING PARTNER,ECOSYSTEM BUILDING AND EDUCATION

Staff

$248K

45 hrs/wk

SHAWN DOVE

MANAGING PARTNER,ECOSYSTEM BUILDING

Staff

$246K

45 hrs/wk

DERREK SHULMAN

PARTNER, SENIOR PHILANTHROPIC ADVISOR

Staff

$232K

45 hrs/wk

MATRIKA BAILEY-TURNER

CHIEF OF STAFF

Staff

$169K

45 hrs/wk

Independent contractors

SUSAN ASIYANBI DBA O PRACTICE LLC

LEADERSHIP COACHING

$482K

LANCE POTTER DBA EVALUATION STRATEGY LL

EVALUATION AND PORTFOLIO SUPPORT

$268K

MCPHERSON STRATEGIES LLC

COMMUNICATION STRATEGY & IMPLEMENTATION

$249K

JEFF NELSON

PORTFOLIO SUPPORT AND STRATEGY

$213K

PEOPLE ROCKET LLC

PIPELINE RESEARCH AND DEVELOPMENT

$170K

Grants received

Showing 200 of 212

FromAmountPurposeYear
$10M
COMMUNITY & HUMAN SERVICES
2024
$2.7M
K-12 EDUCATION; POSTSECONDARY EDUCATION
2024
$1.1M
K-12 EDUCATION
2024
$750K
K-12 EDUCATION
2024
$750K
K-12 EDUCATION
2024
$175K
COMMUNITY DEVEL
2024
$150K
SUPPORT EFFORTS TO IMPLEMENT, IMPROVE, AND EVALUATE INITIATIVE LEVEL ACTIVITIES RELATED TO THE ECSO INITIATIVE.
2024
$100K
General Support
2024
$100K
PHILANTHROPY, VOLUNTARISM & GRANTMAKING FOUNDATIONS N.E.C.
2024
$100K
To support the mission of the organization
2024
$25K
General & Unrestricted (see general explanation)
2024
$20K
GENERAL NONPROFIT SUPPORT
2024
$12K
TO FURTHER CHARITABLE PURPOSE
2024
$10K
FINANCIAL WELL-BEING
2024
$5K
GENERAL PURPOSES
2024
$1K
General & Unrestricted
2024
$10M
COMMUNITY & HUMAN SERVICES
2023
$3.5M
For grant recipient's exempt purposes
2023
$2.6M
K-12 EDUCATION; POSTSECONDARY EDUCATION
2023
$2.1M
K-12 EDUCATION
2023
$1.7M
IN SUPPORT OF NEIGHBORHOOD REVITALIZATION
2023
$1.1M
SUPPORT-GENERAL FUND
2023
$1.1M
Operating Support/Annual Fund
2023
$1.1M
K-12 EDUCATION
2023
$1.0M
K-12 EDUCATION; POSTSECONDARY EDUCATION
2023
$751K
PUBLIC, SOCIETAL BENEFIT
2023
$750K
K-12 EDUCATION
2023
$500K
POSTSECONDARY PATHWAYS
2023
$500K
To support the second round of the Post-Secondary Innovation and Equity Fund to build the capacity of proximate entrepreneurs who will reshape the education to employment system
2023
$350K
As a final grant for youth mental health investments
2023
$300K
Mission Fund
2023
$250K
PHILANTHROPY, VOLUNTARISM & GRANTMAKING FOUNDATIONS N.E.C.
2023
$218K
FOR THE EXEMPT FUNCTION OF THE ORGANIZATION
2023
$205K
FOR RECIPIENT'S EXEMPT PURPOSE
2023
$200K
General Support
2023
$175K
SUPPORT EFFORTS TO IMPLEMENT, IMPROVE, AND EVALUATE INITIATIVE LEVEL ACTIVITIES RELATED TO THE ECSO INITIATIVE.
2023
$175K
COMMUNITY DEVEL
2023
$167K
For supporting a cohort of organizations working to advance the mental health of young people
2023
$100K
GENERAL SUPPORT
2023
$100K
General Purpose
2023
$75K
TO PROMOTE ITS CHARITABLE PURPOSE
2023
$50K
IN FURTHERANCE OF GRANTEE'S TAX-EXEMPT PURPOSE
2023
$50K
FOR GENERAL OPERATING SUPPORT
2023
$50K
General & Unrestricted
2023
$20K
General Operating Support
2023
$10K
SUPPORT CHARITABLE PURPOSE
2023
$9K
GENERAL PURPOSES
2023
$3.2M
For grant recipient's exempt purposes
2022
$2.1M
K-12 EDUCATION
2022
$1.9M
Operating Support/Annual Fund
2022
$1.7M
IN SUPPORT OF NEIGHBORHOOD REVITALIZATION
2022
$1M
General operating grant
2022
$833K
For supporting a cohort of organizations working to advance the mental health of young people
2022
$800K
K-12 EDUCATION
2022
$752K
PUBLIC, SOCIETAL BENEFIT
2022
$750K
GENERAL SUPPORT
2022
$700K
SUPPORT-GENERAL FUND
2022
$560K
IN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS
2022
$540K
UNRESTRICTED
2022
$500K
To launch the second round of the Post-Secondary Innovation and Equity Fund (PIE 2) to build the capacity of proximate entrepreneurs who will reshape the education to employment system.
2022
$500K
POSTSECONDARY PATHWAYS
2022
$500K
FOR SUPPORT OF CIVIC LAB
2022
$500K
FURTHER CHARITABLE GOALS
2022
$490K
K-12 EDUCATION
2022
$400K
FOR RECIPIENT'S EXEMPT PURPOSE
2022
$300K
Mission Fund
2022
$300K
Support for New Profit's third Unlocked Futures Catalyze cohort.
2022
$300K
CIVIC LAB
2022
$250K
PHILANTHROPY, VOLUNTARISM & GRANTMAKING FOUNDATIONS NEC
2022
$250K
Mission Fund
2022
$250K
GENERAL OPERATING SUPPORT
2022
$220K
FOR THE EXEMPT FUNCTION OF THE ORGANIZATION
2022
$100K
General Support
2022
$100K
COMMUNITY DEVELOPMENT
2022
$100K
TO PROMOTE ITS CHARITABLE PURPOSE
2022
$100K
INCLUSIVE IMPACT INITIATIVE
2022
$100K
IN FURTHERANCE OF GRANTEE'S TAX-EXEMPT PURPOSE
2022
$100K
for The Well and Unlocked Futures Initiative
2022
$100K
SUPPORT FOR ACHIEVING EQUITY IN GOVERNMENT CONTRACTING FOR THE DELIVERY OF WORKFORCE DEVELOPMENT PROGRAMS AND TRAINING BY CREATING A LEARNING COHORT AND POLICY PLAYBOOK FOR EDUCATING POLICYMAKERS. 202105-10476
2022
$100K
General Support
2022
$50K
FOR GENERAL OPERATING SUPPORT
2022
$50K
FOR GENERAL OPERATING SUPPORT
2022
$25K
GENERAL OPERATING SUPPORT
2022
$25K
SUPPORT CHARITABLE PURPOSE
2022
$15K
GENERAL SUPPORT
2022
$15K
GENERAL OPERATING PURPOSE
2022
$12K
TO FURTHER CHARITABLE PURPOSE
2022
$10K
GENERAL USE
2022
$8K
GENERAL PURPOSES
2022
$1K
General & Unrestricted
2022
$1K
Executive Leadership Program 2023 - Kevin Greer
2022
$10M
ADVISED - TO INVEST DOLLARS AND TECHNICAL ASSISTANCE (TA) IN DIVERSE-LED NONPROFITS WORKING TO CREATE ECONOMIC OPPORTUNITIES IN COMMUNITIES OF COLOR IN PRIORITY CITIES.
2021
$3.9M
For grant recipient's exempt purposes
2021
$3.9M
For grant recipient's exempt purposes
2021
$1.9M
Operating Support/Annual Fund
2021
$1.7M
IN SUPPORT OF NEIGHBORHOOD REVITALIZATION
2021
$1.2M
For incubating and building capacity of organizations to inform policy and practice
2021
$850K
FURTHER CHARITABLE GOALS
2021
$502K
PUBLIC, SOCIETAL BENEFIT
2021
$500K
EXEMPT PURPOSE
2021
$300K
For recipient's exempt purpose
2021
$205K
FOR THE EXEMPT FUNCTION OF THE ORGANIZATION
2021
$150K
support partnerships with workforce boards and tech entrepreneurs of color in effort to spur innovation as well as the expansion of both job training and placement of workers in underrepresented communities
2021
$100K
TO PROMOTE ITS CHARITABLE PURPOSE
2021
$100K
INCLUSIVE IMPACT INITIATIVE
2021
$50K
GENERAL PURPOSES CONTRIBUTION
2021
$50K
Economic Development
2021
$10K
General Support
2021
$4K
GENERAL SUPPORT
2021
$2K
GENERAL SUPPORT
2021
$15M
GENERAL OPERATING SUPPORT
2020
$5.4M
TO SUPPORT EDUCATION INVESTMENTS
2020
$4.3M
For grant recipient's exempt purposes
2020
$4.0M
K-12 EDUCATION
2020
$1.1M
Operating Support/Annual Fund
2020
$1M
OPERATING GRANT
2020
$1M
PUSHBLACK
2020
$1M
PUSHBLACK
2020
$963K
FOR INCUBATING AND BUILDING CAPACITY OF ORGANIZATIONS TO INFORM POLICY AND PRACTICE
2020
$762K
K-12 EDUCATION
2020
$600K
K-12 EDUCATION
2020
$570K
IN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS
2020
$500K
TO SUPPORT THE SCALING OF POSTSECONDARY AND CAREER INNOVATION WITH PROVEN IMPACT FOR LOW-INCOME AND UNDERREPRESENTED STUDENTS IN ORDER TO HELP DEVELOP 10 MILLION MORE CAREER READY AMERICANS BY 2025.
2020
$500K
CIVIC LAB
2020
$500K
FOR SUPPORT OF CIVIC LAB
2020
$500K
Postsecondary Innovation for Equity (PIE) Fund
2020
$400K
General Nonprofit Support
2020
$340K
POSTSECONDARY EDUCATION
2020
$250K
SUPPORT FOR THE FUTURE OF WORK GRAND CHALLENGE
2020
$250K
IN SUPPORT OF THE RURAL SMALL TOWN INITIATIVE
2020
$250K
GENERAL OPERATING SUPPORT
2020
$250K
IN SUPPORT OF THE RURAL SMALL TOWN INITIATIVE
2020
$250K
GENERAL OPERTING SUPPORT
2020
$206K
FOR RECIPIENT'S EXEMPT PURPOSE
2020
$205K
FOR COVID-19 SUPPORT
2020
$200K
General Support
2020
$150K
support partnerships with workforce boards and tech entrepreneurs of color in effort to spur innovation as well as the expansion of both job training and placement of workers in underrepresented communities
2020
$150K
General & Unrestricted
2020
$150K
Early childhood education
2020
$126K
K-12 EDUCATION
2020
$100K
Support for the Inclusive Impact Summit in Washington, DC, February 24-25, 2020. 202001-7846
2020
$100K
INCLUSIVE IMPACT INITIATIVE
2020
$100K
TO PROMOTE ITS CHARITABLE PURPOSE
2020
$100K
To reduce poverty by supporting the Future of Work Grand Challenge
2020
$100K
Inclusion Impact Fund
2020
$80K
SUPPORT PHILANTHROPY ORGANIZATION
2020
$56K
FUTURE OF WORK GRAND CHALLENGE XPERT WORKER, TO AMPLIFY THE VOICE OF THE WORKER
2020
$50K
GENERAL PURPOSE SUPPORT
2020
$50K
General support
2020
$50K
Unlocked Futures FUnd
2020
$30K
This grant is to support in engagement of workers for the MIT Solve Workforce Challenge
2020
$25K
Support for under-invested communities most affected by COVID-19
2020
$25K
RACIAL EQUALITY AND JUSTICE GRANT WORK
2020
$16K
General Support
2020
$15K
2020 COLLEGE ACCESS & LEARNING LAB
2020
$13K
COVID-19 Grant
2020
$5K
GENERAL PURPOSES
2020
$5K
Food Programs
2020
$5K
GENERAL USE AND/OR SPECIAL FUND/PROJECT
2020
$2K
General Operating
2020
$4.2M
For grant recipient's exempt purposes
2019
$1.9M
Operating Support/Annual Fund
2019
$1.3M
FOR INCUBATING AND BUILDING CAPACITY OF ORGANIZATIONS TO INFORM POLICY AND PRACTICE
2019
$1.1M
DAF - General Philanthropy
2019
$926K
PUBLIC, SOCIETAL BENEFIT
2019
$50K
Education
2019
$4.8M
For grant recipient's exempt purposes
2018
$1.3M
PUBLIC, SOCIETAL BENEFIT
2018
$250K
FOR THE EXEMPT FUNCTION OF THE ORGANIZATION
2018
$25K
20TH ANNIVERSARY OF GREAT LEADERSHIP BY VANESSA KIRSCH
2018

Funded by

$163.4M from 79 funders · 212 grants · 2017–2024

Fidelity Investments Charitable Gift Fund

$31.4M · 8 grants · 2017–2023

Gates Foundation

$26.8M · 22 grants · 2017–2024

Gs Donor Advised Philanthropy Fund

$20M · 2 grants · 2023–2024

The Chicago Community Trust

$15M · 1 grant · 2020

The San Francisco Foundation

$10M · 1 grant · 2021

Boston Foundation Inc

$9.1M · 9 grants · 2017–2023

Jpmorgan Chase Foundation

$6.1M · 5 grants · 2020–2023

Carnegie Corporation Of New York

$6M · 7 grants · 2017–2023

Details

EIN043396766
NTEE codeS50
Subsection03
Ruling date1998-10
Formed1997
Employees99
Volunteers21
NEW PROFIT INC — Mission, Financials & Grants Received | Grantivo