New Profit Inc is located in Boston, MA. The organization was established in 1998. According to its NTEE Classification (S50) the organization is classified as: Nonprofit Management, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, New Profit Inc employed 84 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Profit Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, New Profit Inc generated $77.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $27.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, New Profit Inc has awarded 518 individual grants totaling $122,762,394. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
NEW PROFIT IS A VENTURE PHILANTHROPY ORGANIZATION THAT BACKS SOCIAL ENTREPRENEURS WHO ARE ADVANCING EQUITY AND OPPORTUNITY IN AMERICA. NEW PROFIT EXISTS TO BUILD A BRIDGE BETWEEN THESE LEADERS AND A COMMUNITY OF PHILANTHROPISTS WHO ARE COMMITTED TO CATALYZING THEIR IMPACT. NEW PROFIT PROVIDES UNRESTRICTED GRANTS AND STRATEGIC SUPPORT TO A PORTFOLIO OF ORGANIZATIONS LED BY VISIONARY SOCIAL ENTREPRENEURS TO INCREASE THEIR IMPACT, SCALE, AND SUSTAINABILITY. IT ALSO PARTNERS WITH SOCIAL ENTREPRENEURS AND OTHER CROSS-SECTOR LEADERS TO SHIFT HOW GOVERNMENT AND PHILANTHROPY PURSUE SOCIAL CHANGE TO ENSURE THAT ALL PEOPLE CAN THRIVE. SINCE ITS FOUNDING IN 1998, NEW PROFIT HAS INVESTED OVER $325M IN 165+ ORGANIZATIONS AND, THROUGH THE AMERICA FORWARD COALITION'S COLLECTIVE ADVOCACY EFFORTS, HAS UNLOCKED OVER $1.7B IN GOVERNMENT FUNDING FOR SOCIAL INNOVATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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POLICY AND FIELD BUILDINGOUR ECOSYSTEM BUILDING EFFORTS ENGAGE SOCIAL ENTREPRENEURS, POLICYMAKERS, PHILANTHROPISTS, AND OTHER NATIONAL AND LOCAL STAKEHOLDERS TO TRANSFORM HOW GOVERNMENT AND PHILANTHROPY THINK ABOUT HOW TO COLLECTIVELY PURSUE SOCIAL CHANGE AND ALLOCATE RESOURCES. THROUGH THIS WORK, WE LEVERAGE DEEP INSIGHTS OF SOCIAL INNOVATORS IN OUR COMMUNITY TO INFLUENCE HOW POLICIES ARE SHAPED AND HOW RESOURCES FLOW IN THE SECTOR TO HELP REMOVE BARRIERS TO SUSTAINED SOCIAL PROGRESS.INCLUSIVE IMPACTTHROUGH A MULTI-RACIAL, MULTI-ETHNIC NETWORK OF PHILANTHROPISTS, PRACTITIONERS, INSTITUTIONAL FUNDERS, AND SOCIAL IMPACT STAKEHOLDERS, INCLUSIVE IMPACT IS DESIGNED TO INCREASE INVESTMENTS IN LEADERS OF COLOR IN THE SOCIAL SECTOR SO THAT WE CAN LEVERAGE THE DIVERSE VOICES IN OUR SOCIETY TO INFLUENCE WHAT A NEW ERA OF SOCIAL PROBLEM-SOLVING COULD LOOK LIKE. INCLUSIVE IMPACT IS INITIALLY FOCUSED ON INCREASING INVESTMENTS IN BLACK, INDIGENOUS, AND LATINO/A/X LEADERS BECAUSE WE HAVE FOUND THAT THAT THEY ARE SIGNIFICANTLY UNDERREPRESENTED AT ALL LEVELS OF SOCIAL SECTOR LEADERSHIP AND FACE THE LARGEST DISPARITIES IN TERMS OF FUNDING AND SUPPORT IN THE SECTOR TODAY.AMERICA FORWARDAMERICA FORWARD IS NEW PROFIT'S DC-BASED, NONPARTISAN POLICY INITIATIVE THAT UNITES SOCIAL ENTREPRENEURS WITH POLICYMAKERS TO TRANSFORM LOCAL IMPACT INTO NATIONAL CHANGE. AMERICA FORWARD ENGAGES A COALITION OF OVER 100 SOCIAL INNOVATION ORGANIZATIONS THAT ARE ACHIEVING MEASURABLE OUTCOMES IN MORE THAN 15,000 COMMUNITIES NATIONWIDE. TOGETHER, THEY CHAMPION A PUBLIC POLICY AGENDA THAT FOSTERS INNOVATION, REWARDS RESULTS, AND CATALYZES CROSS-SECTOR PARTNERSHIPS IN EDUCATION, EARLY CHILDHOOD, WORKFORCE DEVELOPMENT, YOUTH DEVELOPMENT, AND POVERTY ALLEVIATION. COALITION ORGANIZATIONS HAVE LEVERAGED $1.7 BILLION FOR SOCIAL INNOVATION AND HAVE DRIVEN MILLIONS OF FEDERAL RESOURCES TOWARD PROGRAMS THAT ARE ACHIEVING MEASURABLE RESULTS FOR THOSE WHO NEED THEM MOST.FUTURE OF WORK GRAND CHALLENGENEW PROFIT AND A COALITION OF PARTNERS LAUNCHED THE FUTURE OF WORK GRAND CHALLENGE IN 2020. THE CROSS-SECTOR, EQUITY-FOCUSED EFFORT AIMS TO RAPIDLY RESKILL DISPLACED WORKERS INTO HIGHER-WAGE JOBS IN AND EQUIP INFLUENTIAL WORKFORCE BOARDS WITH VETTED TOOLS. NEW PROFIT'S FUTURE OF WORK STRATEGY AIMS TO ALIGN EMPLOYER, NONPROFIT, PHILANTHROPIC, AND GOVERNMENT SECTORS TO CREATE A NEW LEARNING ECOSYSTEM THAT WORKS FOR THE MOST VULNERABLE AMERICANS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Vanessa Kirsch Founder And Co-Ceo | Officer | 45 | $383,163 |
Deborah Smolover Managing Partner, Ed Of America Forward | 45 | $332,359 | |
Tulaine Marshall Co-Ceo | Officer | 45 | $326,869 |
Douglas Borchard Managing Partner, Chief Operating Officer | Officer | 45 | $274,329 |
Eliza Greenberg Managing Partner | Officer | 45 | $268,906 |
Alexander Cortez Managing Partner | 45 | $250,035 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Volition Llc Portfolio And Strategy Consulting | 12/30/21 | $360,000 |
Evaluation Strategy Llc Evaluation And Portfolio Support | 12/30/21 | $232,500 |
Jeff Nelson Portfolio And Fundraising Strategy | 12/30/21 | $217,184 |
Impello Ventures Strategy Advisor And Deal Support | 12/30/21 | $137,500 |
Helayne B Jones Strategy Advisor And Deal Support | 12/30/21 | $170,400 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $77,008,557 |
Noncash contributions included in lines 1a–1f | $2,468,121 |
Total Revenue from Contributions, Gifts, Grants & Similar | $77,008,557 |
Total Program Service Revenue | $101,731 |
Investment income | $8,686 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $77,118,974 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $10,306,000 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,593,919 |
Compensation of current officers, directors, key employees. | $701,359 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $7,271,026 |
Pension plan accruals and contributions | $179,858 |
Other employee benefits | $906,306 |
Payroll taxes | $580,714 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $46,557 |
Fees for services: Lobbying | $45,313 |
Fees for services: Fundraising | $224,521 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $4,988,699 |
Advertising and promotion | $0 |
Office expenses | $50,494 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $839,929 |
Travel | $37,232 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $166,577 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $15,018 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $27,480,677 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $9,748,112 |
Savings and temporary cash investments | $57,385,162 |
Pledges and grants receivable | $46,004,320 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $387,520 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $113,525,114 |
Accounts payable and accrued expenses | $592,953 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $592,953 |
Net assets without donor restrictions | $25,357,269 |
Net assets with donor restrictions | $87,574,892 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $113,525,114 |
Over the last fiscal year, New Profit Inc has awarded $10,306,000 in support to 47 organizations.
Grant Recipient | Amount |
---|---|
Culver City, CA PURPOSE: PRIZE AWARD | $2,400,000 |
Oakland, CA PURPOSE: PROGRAM EXPANSION | $500,000 |
Washington, DC PURPOSE: PROGRAM EXPANSION | $400,000 |
Boston, MA PURPOSE: PROGRAM EXPANSION | $400,000 |
Shrewsbury, MA PURPOSE: PROGRAM EXPANSION | $300,000 |
Gainesville, FL PURPOSE: PROGRAM EXPANSION | $300,000 |
Over the last fiscal year, we have identified 47 grants that New Profit Inc has recieved totaling $29,995,833.
Awarding Organization | Amount |
---|---|
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: K-12 EDUCATION | $3,586,487 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF NEIGHBORHOOD REVITALIZATION | $3,333,333 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: K-12 EDUCATION; POSTSECONDARY EDUCATION | $2,000,000 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: K-12 EDUCATION | $1,982,325 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF NEIGHBORHOOD REVITALIZATION | $1,666,667 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: K-12 EDUCATION | $1,540,000 |
Organization Name | Assets | Revenue |
---|---|---|
Fidelity Non-Profit Management Foundation Boston, MA | $2,237,901,889 | $256,876,248 |
The Bridgespan Group Inc Boston, MA | $174,186,501 | $94,948,133 |
Grhs Foundation Inc Rochester, NY | $150,651,211 | $43,275,253 |
Hispanic Federation Inc New York, NY | $50,299,555 | $50,097,384 |
Common Fund For Non-Profit Organizations Wilton, CT | $4,189,942,831 | $274,004,992 |
Affiliates Risk Management Services Inc New York, NY | $25,877,262 | $29,825,362 |
New Profit Inc Boston, MA | $113,525,114 | $77,118,974 |
Nonprofit Finance Fund New York, NY | $319,614,124 | $35,516,704 |
Npower Inc Brooklyn, NY | $16,868,984 | $22,673,461 |
Program Development Services Inc Brooklyn, NY | $16,969,361 | $21,610,144 |
Project Social Care Head Start Brooklyn, NY | $6,318,610 | $20,235,501 |
Race Forward New York, NY | $41,775,681 | $35,206,795 |