New Profit Inc

Organization Overview

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.

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.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Volition Llc
Portfolio And Strategy Consulting
$360,000
Evaluation Strategy Llc
Evaluation And Portfolio Support
$232,500
Helayne B Jones
Strategy Advisor And Deal Support
$170,400
Jeff Nelson
Portfolio And Fundraising Strategy
$217,184
Impello Ventures
Strategy Advisor And Deal Support
$137,500
View All Vendors

Financial Statements

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

Grants Awarded

Over the last fiscal year, New Profit Inc has awarded $10,306,000 in support to 47 organizations.

Grant RecipientAmount

XPRIZE FOUNDATION

Org PageRecipient Profile

Culver City, CA

PURPOSE: PRIZE AWARD

$2,400,000

KINGMAKERS OF OAKLAND

Org PageRecipient Profile

Oakland, CA

PURPOSE: PROGRAM EXPANSION

$500,000

THE HEALTH INITIATIVE

Org PageRecipient Profile

Boston, MA

PURPOSE: PROGRAM EXPANSION

$400,000

Washington, DC

PURPOSE: PROGRAM EXPANSION

$400,000

LASTINGER CENTER AT UNIVERSITY OF FLORIDA

Org PageRecipient Profile

Gainesville, FL

PURPOSE: PROGRAM EXPANSION

$300,000

INSTITUTE FOR EARLY EDUCATION LEADERSHIP AND INNOVATION AT UMASS BOSTON

Org PageRecipient Profile

Shrewsbury, MA

PURPOSE: PROGRAM EXPANSION

$300,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 47 grants that New Profit Inc has recieved totaling $29,995,833.

Awarding OrganizationAmount
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
View Grant Recipient Profile

Peer Organizations

Organization NameAssets
Fidelity Non-Profit Management Foundation
Boston, MA
$256,876,248
The Bridgespan Group Inc
Boston, MA
$94,948,133
Grhs Foundation Inc
Rochester, NY
$43,275,253
Hispanic Federation Inc
New York, NY
$50,097,384
Common Fund For Non-Profit Organizations
Wilton, CT
$274,004,992
Affiliates Risk Management Services Inc
New York, NY
$29,825,362
New Profit Inc
Boston, MA
$77,118,974
Nonprofit Finance Fund
New York, NY
$35,516,704
Npower Inc
Brooklyn, NY
$22,673,461
Program Development Services Inc
Brooklyn, NY
$21,610,144
Project Social Care Head Start
Brooklyn, NY
$20,235,501
Race Forward
New York, NY
$35,206,795

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