New Profit Inc

“Certain employees of the organization review the form 990 prior to the filing. In addition, the full form 990 was reviewed by new profit's finance committee before being filed with the irs. A full copy of the 990 was emailed to the entire board prior to its filing.”

“The new profit board of directors adopted a conflict of interest policy in 2005 and revised the document during 2009 and 2011. All new directors are given a copy of the policy when they are voted onto the board. All board members are also required to disclose interests that could give rise to conflicts and provide annual conflict of interest signoffs in the fourth quarter of the year. Additionally, when directors have direct relationships with current portfolio organizations or pipeline organizations (e.g. They serve on the board of an organization), directors are asked to recuse themselves from voting when decisions regarding these organizations are made by the board of directors. When compensation of management is discussed and decided by the board, directors with direct relationships with individuals on the management team are asked to recuse themselves.”

“Compensation for new profit's ceo (tulaine montgomery) is set by the executive committee of the new profit board of directors. As input to this decision-making process, management provides the board's compensation committee with salary data for comparable positions with comparable organizations, an assessment of new profit's performance against goals for the previous fiscal year, and a self-assessment. Management meets with the executive committee to discuss the material provided. The executive committee then meets independently to determine compensation. For 2024, the board also determined the salary for vanessa kirsch, founder-in-residence and senior partner. Compensation for the coo, doug borchard, cfo, ian magee, and president, eliza greenberg is determined by management.”

“The documents are provided upon request and in accordance with applicable states and federal laws.”

“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.”

“Portfolio - build we stand shoulder-to-shoulder with social entrepreneurs in support of their vision, with a specific focus on helping them build the capacity of their organizations, which is key to strengthening their long-term impact and sustainability. We are committed to backing social entrepreneurs who center equity in their work and who are proximate to the communities we collectively aim to serve. Proximate leaders bring skills, insights, relationships, and expertise that our society needs to advance equitable wellbeing. Our biggest societal challenges are complex and interconnected, so we believe progress depends on investing in a broad range of issue areas. We provide three levels of funding and strategic support to organizations in our portfolio: a new pilot investment vehicle called "transform investments, and our established portfolios of "build investments, and "catalyze investments." through our build investments, we provide grantees a $1-1.5m multi-year, unrestricted grant and advisory support. A dedicated new profit deal partner serves as a trusted advisor to the social entrepreneur and as a member of the organization's board of directors. Our support is geared towards building the leadership capacity of social entrepreneurs and their ability to make strategic choices as they navigate change and growth. Our build grantees are creating impact in education, democracy, and economic mobility.”

“Ecosystem building and policy our ecosystem building efforts engage social entrepreneurs, policymakers, philanthropists, and other national and local stakeholders to transform how philanthropy thinks about how to collectively pursue impact and allocate resources. Through this work, we leverage deep insights of social innovators in our community to influence how resources flow in the sector to help remove barriers to sustained progress. The well - new profit's bi-annual community gathering of social entrepreneurs, ecosystem builders, philanthropists, and other social impact leaders is designed to create and nourish an unprecedented multiracial, intergenerational, cross-sector coalition for change the m.i.c.. Launched in 2022, the event, which brings together over 450 members of new profit's community, facilitates collaborative learning in service of driving greater impact as individuals and as a community. The well creates intentional and organic opportunities to connect across identity markers in meaningful, action-oriented ways through spaces and activities focused on wellbeing, healing, and coalition-building. Postsecondary innovations for equity (2020-2025) launched in 2020 to support innovators that are building evidence behind new approaches to connecting young adults with the postsecondary credentials and work experience needed to access upwardly mobile careers. An initiative of learn to earn, new profit's postsecondary and career strategy, pie is a two-phase effort. The first 20 grantee-partners were eligible for the second phase of the pie initiative, in which selected organizations each received $1m+ build investments from new profit over four years to further advance and scale their impact. Through the early childhood support organization (ecso) initiative, we are working to provide resources and align financial incentives to support better early education outcomes for children from low-income communities. Ecso is a $20m public-private partnership between new profit and the commonwealth of massachusetts department of early education and care (eec). The initiative backs ecsos, which will serve as intermediary organizations that partner with local center and family-based early childhood providers to help them implement evidence-based strategies to achieve higher-quality program delivery and long-term impact. America forward is new profit's nonpartisan policy initiative that unites social entrepreneurs with policy makers 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 public policies that foster innovation, reward results, and catalyze cross-sector partnerships in education, early childhood, workforce development, youth development, and poverty alleviation. Coalition organizations have leveraged $1.9 billion for programs that are achieving measurable results for those who need them most.”

“Portfolio - transform through our transform investments, we provide grantees a $3m+ multi-year, unrestricted grant and advisory support. A dedicated new profit deal partner serves as a trusted advisor to the social entrepreneur and as a member of the organization's board of directors. Our support is geared toward supporting leadership teams and boards as they navigate significant inflection points in their growth, driving large-scale impact in our grantees' fields, including education, democracy, economic mobility and health.”

“Cancelled commitments receivable -399,459. Provision for uncollectible commitments 397,556.”

“The process has not changed from the prior year.”