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Organization DBA --
Former Names --
Organization received a competitive grant from the Boston Foundation in the past five years Yes

Summary

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Mission StatementMORE »

New Profit is a national nonprofit venture philanthropy organization that aims to break down the systemic barriers that stand between people and opportunity in America. Our core belief is that visionary entrepreneurs and philanthropists can upend the status quo and transform education, early childhood development, economic empowerment, and public health. We work hand-in-hand with them – and cross-sector and community-based partners – to drive large-scale change.

Mission Statement

New Profit is a national nonprofit venture philanthropy organization that aims to break down the systemic barriers that stand between people and opportunity in America. Our core belief is that visionary entrepreneurs and philanthropists can upend the status quo and transform education, early childhood development, economic empowerment, and public health. We work hand-in-hand with them – and cross-sector and community-based partners – to drive large-scale change.

FinancialsMORE »

Fiscal Year Jan 01, 2017 to Dec 31, 2017
Projected Income $29,500,000.00
Projected Expense $28,000,000.00

ProgramsMORE »

  • Focus Funds
  • Gathering of Leaders
  • New Profit Accelerator Program
  • New Profit Innovation Fund
  • Policy Innovation

Revenue vs. Expense ($000s)

Expense Breakdown 2016 (%)

Expense Breakdown 2015 (%)

Expense Breakdown 2014 (%)

For more details regarding the organization's financial information, select the financial tab and review available comments.


Overview

Mission Statement

New Profit is a national nonprofit venture philanthropy organization that aims to break down the systemic barriers that stand between people and opportunity in America. Our core belief is that visionary entrepreneurs and philanthropists can upend the status quo and transform education, early childhood development, economic empowerment, and public health. We work hand-in-hand with them – and cross-sector and community-based partners – to drive large-scale change.

Background Statement

New Profit’s founder and CEO, Vanessa Kirsch, spent a year interviewing social entrepreneurs across 22 countries. In Vietnam, she witnessed large health and mortality disparities between nearby villages. One Village discovered that by adding small shrimp to meals, children became healthier, the other villages along the same river had access to the same shrimp but lacked knowledge of the simple and inexpensive innovation. However, each village had an ample supply of Coca-Cola. Vanessa asked herself: what prevents social entrepreneurs from scaling their innovations the way corporations do?

In 1998, New Profit was created to help answer that question by bringing capacity building capital and strategic support to visionary social entrepreneurs to help them scale the impact of their organizations.

New Profit’s work can be broken down into five areas:

New Profit Innovation Fund: Identifies and supports the best social problem solvers in America.

Focus Funds: Cross-sector collaboratives exploring powerful new areas of opportunity to drive large-scale change:

· Early Learning Fund: Overcoming the opportunity gap by giving children a strong early start.

· Learn to Earn Fund: Supporting and accelerating the development of 10 million more career-ready Americans by 2025.

· Reimagine Learning Fund: Supporting communities and schools to create teaching and learning environments that unleash creativity and potential in all students – including those with complex needs – so that they realize academic and life success.

· Reimagine School Systems Fund: Significantly and rapidly increasing the number of high-performing schools serving low-income students (charter and district schools) by funding, advising, and building powerful individual organizations and practitioner networks on both the demand and supply side of systems change.

America Forward: Nonpartisan policy arm that works with 70+ organizations to advance a public policy agenda championing innovative and effective solutions to social problems.

The Gathering of Leaders: Annual convening brings together social entrepreneurs and their counterparts from other sectors for dialogue and collaboration.

The Accelerator Portfolio: Aims to identify, connect, advise, and invest in diverse social entrepreneurs who are creating innovative solutions to persistent problems in their communities.

· The Women’s Accelerator supports visionary female social entrepreneurs

· The Proximity Accelerator supports visionary social entrepreneurs of color


Impact Statement

Accomplishments

Pathways Fund: In 2010, New Profit and cross-sector partners launched the Pathways Fund, a five-year initiative to strengthen the bridge between education and workforce development in order to foster opportunity for low-income youth. In 2016, our final report that showed, among other things:

403,512 people were served by the six Pathways organizations in 2015, nearly double the number served in 2010.

25 collaborations emerged between national offices across the network.

Accelerator Program: We are in the process of launching three Accelerator programs to identify, connect, advise, and invest in diverse leaders who are creating innovative solutions to persistent problems. In 2016, we introduced our second cohort of the Women’s Accelerator, which supports visionary female social entrepreneurs, and launched another initiative, the Proximity Accelerator, to support innovative social entrepreneurs of color.

#AFPresidential: America Forward, New Profit’s nonpartisan policy arm, conducted over 30 policy briefings with Presidential campaign staff; drafted transition memos and policy recommendations; hosted Coalition visits, Today’s Student town halls, and policy summits; and placed 18 Today’s Student ambassadors on college campuses in three battleground states. They also played an active role in the ESSA, WIOA, the Evidence-Based Policymaking Commission Act, and the Social Impact Partnerships to Pay for Results Act.

Goals

1. Grow impact. Expand our community of partners and resources we can employ to strengthen the capacity building support we provide.

2. Advance equity. Broaden our investments in diversity-equity-inclusion (DEI) by expanding our Accelerator program, further integrating DEI practices into our work, and continuing to use our voice in dialogue about these issues.

3. Innovate at the frontier. Advance our work at the cutting edge of social impact, including new approaches to learning, parent engagement, workforce development, and systems entrepreneurship.


Needs Statement

1. Secure funding to grow the number of path-breaking organizations New Profit supports.

2. Secure funding to further strengthen our capacity-building offering for our grantees including policy advisory support, communications and public engagement counsel, diversity-equity-inclusion advisory support, and fundraising advisory support.

3. Secure funding to invest in high-impact R&D opportunities that will further the organization's development and learning.

4. Secure funding to upgrade our technology infrastructure and systems.

5. Further diversify our team, networks, and donor base to ensure we have the talent and resources we need to continue to deliver powerfully on our mission.


CEO Statement

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Board Chair Statement

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Geographic Area Served

NATIONAL
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Organization Categories

  1. Unknown - Unknown
  2. -
  3. -

Independent research has been conducted on this organization's theory of change or on the effectiveness of this organization's program(s)

Yes

Programs

Focus Funds

In addition to the New Profit Innovation Fund, we operate Focus Funds that are vehicles for ambitious experimentation and risk-taking with emerging solutions to social challenges. Drawing on our 15 years of experience helping scale high-impact innovations we bring together like-minded social entrepreneurs, philanthropists and institutional donors, researchers, policy experts and other cross-sector partners for intensive collaboration aimed at catalyzing new approaches and breaking through on intractable challenges. With New Profit as the driver and facilitator Focus Funds integrate the following core activities:

  • Co-creating & collaborating on vision & strategy, operating plans and measurement;
  • Investing in visionary leaders who have created bold solutions with systemic change potential;
  • Advocating for public policy that sets the agenda, redirects resources and leads to better outcomes; and
  • Capturing public attention & mobilizing support for major change.
Budget  --
Category  None of the above
Population Served US Unemployed, Underemployed, Dislocated At-Risk Populations
Program Short-Term Success  n/a
Program Long-Term Success  n/a
Program Success Monitored By  n/a
Examples of Program Success  n/a

Gathering of Leaders

New Profit’s Gathering of Leaders is one of the nation’s most influential convenings of top social innovators and their counterparts in business, government, philanthropy, media, technology and academia. This invitation-only event brings together approximately 250 Gathering participants annually for an intimate two-day convening to accelerate solutions to our nation’s toughest problems in early childhood development, K-12 and post-secondary education, workforce development, community health, poverty, and related areas.

Participants challenge each other’s beliefs and assumptions, forge new connections, spark ideas, align strategies, and shape initiatives that unlock the potential of social innovation to expand social mobility in communities across the nation.

Budget  --
Category  None of the above
Population Served US At-Risk Populations
Program Short-Term Success  n/a
Program Long-Term Success  n/a
Program Success Monitored By  n/a
Examples of Program Success  n/a

New Profit Accelerator Program

New Profit’s Accelerator Program was launched in 2014 to accelerate the potential of extraordinary female social entrepreneurs and the impact of their organizations. Our first cohort consists of seven social entrepreneurs who are breaking down barriers to opportunity in America and beyond.

Accelerator social entrepreneurs receive a boost in the form of a one-time gift, insider access to New Profit networks, and a crash course in New Profit tools. Social entrepreneurs form a cohort, meant as a collaborative learning community to seed new ideas, ignite innovation and build bigger impact. The idea is simple: women supporting women to change the world. For more information on each of the seven visionary social entrepreneurs click here.

The second cohort of the New Profit Women's Accelerator launched in November of 2016. Click here. to read about the eight extraordinary women who make up this year's cohort.

Budget  --
Category  None of the above
Population Served US At-Risk Populations
Program Short-Term Success  n/a
Program Long-Term Success  n/a
Program Success Monitored By  n/a
Examples of Program Success  n/a

New Profit Innovation Fund

We believe that great social entrepreneurs can help catalyze systemic change in education, early childhood development, economic empowerment and public health. The New Profit Innovation Fund (NPIF) puts this core idea into practice by serving as our learning lab for identifying and supporting the best social problem solvers in America.

Budget  --
Category  Education, General/Other Education, General/Other
Population Served US Poor,Economically Disadvantaged,Indigent
Program Short-Term Success  n/a
Program Long-Term Success  In NPIF, we conduct sophisticated due diligence to identify and invest in visionary leaders who have clear potential to drive change at the systemic level. Our goal is to help them take great ideas and organizations to scale that meets the huge needs that still exist among our fellow citizens. Organizations in NPIF receive unrestricted, multi-year grant funding to power this growth and scale. Just as importantly, they receive world-class strategic support that is usually reserved for Fortune 500 companies, thanks to our multi-million dollar annual collaboration with Deloitte. With this model, we are able to leverage every philanthropic dollar effectively to drive big, systemic outcomes.
Program Success Monitored By  n/a
Examples of Program Success  n/a

Policy Innovation

America Forward is New Profit’s nonpartisan policy arm. AF connects its growing coalition of nearly 60 high-impact organizations achieving measurable outcomes with policymakers and innovators to advance a public policy agenda that champions innovative and effective solutions to our country’s most pressing social problems.

AF and its coalition members have played a critical role in the implementation of state and federal policies that spur innovation, reward results and catalyze cross sector partnerships. AF helped drive the creation of the White House Social Innovation Fund (which supported New Profit's Pathways Fund), and championed the inclusion of Pay for Success provisions in the Workforce Innovation and Opportunity Act, directing hundreds of millions of dollars for dynamic, results-oriented workforce development programs. AF’s latest efforts include ensuring specific education policy agendas address social-emotional as well as cognitive development of young people in America.

Budget  --
Category  None of the above
Population Served US At-Risk Populations Other Named Groups
Program Short-Term Success  n/a
Program Long-Term Success  n/a
Program Success Monitored By  n/a
Examples of Program Success  n/a

CEO/Executive Director/Board Comments

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Management


CEO/Executive Director Ms. Vanessa Kirsch
CEO Term Start Jan 1998
CEO Email [email protected]
CEO Experience

Vanessa Kirsch is Founder and CEO of New Profit, a venture philanthropy fund in Boston that aims to break down barriers to opportunity in America. As a serial social entrepreneur with over 25 years of experience in developing innovative solutions to social problems, Vanessa guides New Profit's vision and strategic direction and oversees the organization's cutting-edge focus funds.

Vanessa was chosen by the The NonProfit Times for the “Power and Influence Top 50” list and by Boston Magazine for the “Most Powerful Boston Philanthropists.” She received the Leadership in Social Entrepreneurship Award from Duke University’s Center for the Advancement of Social Entrepreneurship. Ernst & Young named her “Entrepreneur of the Year” in the category of social entrepreneurship and she has been recognized by Newsweek and U.S. News & World Report as a leader of her generation. Forbes identified Vanessa as one of 15 innovators who will reinvent the future. In 2014, Vanessa and her husband, Alan Khazei, were named by FORTUNE magazine and CNNMoney to their list of “World’s Greatest Leaders: 9 Dynamic Duos” alongside some of the most powerful figures in politics, media, philanthropy, and business. Her “Thinking Differently” column on LinkedIn delves into the future of social innovation and highlights some of the great innovations that New Profit supports.

Prior to New Profit, Vanessa founded and led Public Allies and the Women’s Information Network (WIN). Public Allies, a national youth service organization, was named by the Bush Administration as one of eight model national service programs in America, and by the Clinton Administration as an official AmeriCorps national service model. WIN is an organization that provides support, training and political access to young women.

Vanessa lives in Brookline, Massachusetts with her husband and their two children. She is a graduate of Tufts University and serves on the Tisch College Board of Advisors

Co-CEO --
Co-CEO Term Start --
Co-CEO Email --
Co-CEO Experience --

Former CEOs and Terms

Name Start End
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Senior Staff

Name Title Experience/Biography
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Awards

Award Awarding Organization Year
-- -- --

Affiliations

Affiliation Year
-- --
Member of state association of nonprofits? No
Name of state association --

External Assessments and Accreditations

External Assessment or Accreditation Year
-- --

Collaborations

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CEO/Executive Director/Board Comments

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Foundation Comments

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Staff Information

Number of Full Time Staff 62
Number of Part Time Staff 4
Number of Volunteers 3
Number of Contract Staff 13
Staff Retention Rate % --

Staff Demographics

Ethnicity African American/Black: 7
Asian American/Pacific Islander: 7
Caucasian: 43
Hispanic/Latino: 4
Native American/American Indian: 0
Other: 0
Other (if specified): --
Gender Female: 48
Male: 13
Not Specified 0

Plans & Policies

Organization has Fundraising Plan? Under Development
Organization has Strategic Plan? No
Years Strategic Plan Considers --
Management Succession Plan --
Business Continuity of Operations Plan --
Organization Policies And Procedures Under Development
Nondiscrimination Policy Yes
Whistle Blower Policy Yes
Document Destruction Policy --
Directors and Officers Insurance Policy --
State Charitable Solicitations Permit --
State Registration --

Risk Management Provisions

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Reporting and Evaluations

Management Reports to Board? Yes
CEO Formal Evaluation and Frequency Yes Annually
Senior Management Formal Evaluation and Frequency Yes Annually
Non Management Formal Evaluation and Frequency Yes Semi-Annually

Governance


Board Chair Mr. Jeff Walker
Board Chair Company Affiliation Millennium Development Goals Health Alliance
Board Chair Term Jan 2016 -
Board Co-Chair --
Board Co-Chair Company Affiliation --
Board Co-Chair Term -

Board Members

Name Company Affiliations Status
Steve Barnes Bain Capital Voting
Josh Bekenstein Bain Capital Voting
Mike Canning Deloitte LLP Voting
Paul Grogan The Boston Foundation Voting
David Harris Tufts University Voting
Steve Jennings Deloitte Consulting LLP --
Mike Kendall Goodwin Procter LLP NonVoting
Vanessa Kirsch New Profit Voting
Wendy Kopp Teach For All Voting
Mark Macenka Goodwin Procter LLP NonVoting
Henry McCance Retired Voting
Bill McClements Merrimack Pharmaceuticals Voting
Duncan McFarland The Bromley Charitable Trust Voting
Valerie Mosley Valmo Ventures Voting
Kristin Mugford Harvard Business School Voting
Mark Nunnelly Community Volunteer Voting
Dana O'Donovan Deloitte LLP NonVoting
James Pallotta Raptor Group Voting
John Rice MLT Voting
Brian Spector Community Volunteer Voting
Jeff Walker Millennium Development Goals Health Alliance Voting

Constituent Board Members

Name Company Affiliations Status
-- -- --

Youth Board Members

Name Company Affiliations Status
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Advisory Board Members

Name Company Affiliations Status
-- -- --

Board Demographics

Ethnicity African American/Black: 3
Asian American/Pacific Islander: 0
Caucasian: 18
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): --
Gender Female: 5
Male: 16
Not Specified 0

Board Information

Board Term Lengths --
Board Term Limits --
Board Meeting Attendance % --
Written Board Selection Criteria No
Written Conflict Of Interest Policy Yes
Percentage of Monetary Contributions 63%
Percentage of In-Kind Contributions --
Constituency Includes Client Representation Yes

Standing Committees

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CEO/Executive Director/Board Comments

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Foundation Comments

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Financials


Revenue vs. Expense ($000s)

Expense Breakdown 2016 (%)

Expense Breakdown 2015 (%)

Expense Breakdown 2014 (%)

Fiscal Year Jan 01, 2017 to Dec 31, 2017
Projected Income $29,500,000.00
Projected Expense $28,000,000.00
Form 990s

2016 Form 990

2015 Form 990

2014 Form 990

2013 Form 990

Audit Documents

2016 Audited Financials

2015 Audited Financials

2014 Audited Financials

2013 Audited Financials

IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2016 2015 2014
Total Revenue $41,987,039 $39,555,888 $26,533,224
Total Expenses $29,101,086 $32,737,043 $31,664,445

Prior Three Years Revenue Sources

Fiscal Year 2016 2015 2014
Foundation and
Corporation Contributions
-- -- --
Government Contributions $0 $0 $0
    Federal -- -- --
    State -- -- --
    Local -- -- --
    Unspecified -- -- --
Individual Contributions $37,204,093 $32,597,878 $19,357,578
Indirect Public Support -- -- --
Earned Revenue $2,004,689 $4,623,470 $4,999,851
Investment Income, Net of Losses -- -- --
Membership Dues -- -- --
Special Events -- -- --
Revenue In-Kind $2,778,257 $2,258,399 $2,119,925
Other -- $76,141 $55,870

Prior Three Years Expense Allocations

Fiscal Year 2016 2015 2014
Program Expense $25,282,882 $28,918,256 $26,964,311
Administration Expense $3,058,094 $2,557,361 $2,691,526
Fundraising Expense $760,110 $1,261,426 $2,008,608
Payments to Affiliates -- -- --
Total Revenue/Total Expenses 1.44 1.21 0.84
Program Expense/Total Expenses 87% 88% 85%
Fundraising Expense/Contributed Revenue 2% 4% 10%

Prior Three Years Assets and Liabilities

Fiscal Year 2016 2015 2014
Total Assets $56,303,188 $45,206,507 $39,166,571
Current Assets $35,399,398 $30,213,061 $26,403,297
Long-Term Liabilities -- $0 $0
Current Liabilities $1,496,181 $3,128,377 $3,907,286
Total Net Assets $54,807,007 $42,078,130 $35,259,285

Prior Three Years Top Three Funding Sources

Fiscal Year 2016 2015 2014
1st (Source and Amount) -- --
-- --
-- --
2nd (Source and Amount) -- --
-- --
-- --
3rd (Source and Amount) -- --
-- --
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Financial Planning

Endowment Value --
Spending Policy --
Percentage(If selected) --
Credit Line No
Reserve Fund Yes
How many months does reserve cover? 3.00

Capital Campaign

Are you currently in a Capital Campaign? Yes
Capital Campaign Purpose New Profit's twentieth anniversary capital campaign.
Campaign Goal --
Capital Campaign Dates -
Capital Campaign Raised-to-Date Amount --
Capital Campaign Anticipated in Next 5 Years? Yes

Short Term Solvency

Fiscal Year 2016 2015 2014
Current Ratio: Current Assets/Current Liabilities 23.66 9.66 6.76

Long Term Solvency

Fiscal Year 2016 2015 2014
Long-term Liabilities/Total Assets 0% 0% 0%

CEO/Executive Director/Board Comments

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Foundation Comments

Financial summary data in charts and graphs are per the organization's audited financials. Contributions from foundations and corporations are listed under individuals when the breakout was not available.

Documents


Other Documents

No Other Documents currently available.

Impact

The Impact tab is a section on the Giving Common added in October 2013; as such the majority of nonprofits have not yet had the chance to complete this voluntary section. The purpose of the Impact section is to ask five deceptively simple questions that require reflection and promote communication about what really matters – results. The goal is to encourage strategic thinking about how a nonprofit will achieve its goals. The following Impact questions are being completed by nonprofits slowly, thoughtfully and at the right time for their respective organizations to ensure the most accurate information possible.


1. What is your organization aiming to accomplish?

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2. What are your strategies for making this happen?

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3. What are your organization’s capabilities for doing this?

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4. How will your organization know if you are making progress?

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5. What have and haven’t you accomplished so far?

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