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. 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 certain members of new profit's executive team is set by the compensation 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 within comparable organizations, an assessment of new profit's performance against goals for the previous fiscal year, and performance assessments for each staff member, including a self-assessment. Management meets with the compensation committee to discuss the material provided. The compensation committee then meets independently to determine compensation.”

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

“New profit is a venture philanthropy organization that backs social entrepreneurs who are advancing equity and opportunity in america. In partnership with a national network of philanthropists, 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. We also partner with social entrepreneurs and other cross-sector leaders to shift how government and philanthropy pursue social change to ensure that all people can thrive.”

“Portfolio investing - education we invest in innovative organizations working to address the learning assets and needs of all students, with a goal of fostering greater collaboration across the full education continuum from early childhood to k-12 to post-secondary. We invest in organizations creating and spreading high-quality learning experiences (both in school and out of school) that promote comprehensive student development, individualized learning pathways, and learner agency. We also invest in efforts to inform and organize parents, young people, teachers, and communities-individually and collectively-so that they can exercise their innate power to create and sustain these learning environments. Within education, there are several initiatives that were active in 2019, some of which sunset over the course of the year. These initiatives provided a mix of build and catalyze investments to portfolio organizations. These initiatives included: early learning (2014-2019) worked to connect and align researchers, practitioners, funders, and policymakers to pursue a shared action agenda and investing in organizations, pilots, and partnerships that have the potential to lift up new approaches to whole-child development and enable effective early learning for all children at scale. Personalized learning (2017-2021) was launched in 2017 with support through a collaboration between new profit, the chan zuckerberg initiative, and the bill & melinda gates foundation. This initiative is an effort to invest in promising new approaches and technologies that can give students more agency in their own learning journey and provide teachers with tools to tailor classroom instruction to the unique needs of each student. As a part of this four-year initiative, seven organizations are receiving a $1m unrestricted grant and strategic advisory support from new profit, and each of the organization's ceos are participating in a peer learning community to share insights across different models and to partner to accelerate the overall development of the field. Reimagine learning (2013-2019) deployed $38m to build a coalition of over 700 education leaders committed to ensuring that all students, including those with more complex and needs and challenges, are supported by learning environments that meet their diverse needs and nurture their diverse strengths. Reimagine learning funded and advised 25 organizations led by visionary social entrepreneurs that collectively serve over 7 million students to help them scale their innovations and enhance their organizational capacity and sustainability, with an eye toward helping them better address the needs of underserved students. Reimagine school systems (2014-2019) sought to rapidly increase the number of high performing schools serving low income students by funding, advising, and building powerful individual organizations and practitioner networks on both the demand and supply side of systems change. Rss worked to change this situation and create new opportunity in low-income communities by investing in strategies to: (1) convert latent demand into actionable demand for more high-quality schools and (2) grow the supply of high-quality schools to meet this actionable demand.”

“Portfolio investing - non-education through our portfolio investing efforts, new profit selects and funds a portfolio of organizations led by visionary social entrepreneurs. We provide two levels of funding and support: build investments and catalyze investments. Through build investments (formerly known as innovation fund investments), we provide $1m+ unrestricted, multi-year grants and deep advisory support to build the capacity of organizations working to increase their impact, scale, and sustainability. New profit assigns a dedicated deal partner to each organization who 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 capability of social entrepreneurs and their ability to make strategic choices as they navigate change and growth. Through catalyze investments (formerly known as accelerator investments), we provide $50-$100k unrestricted grants, strategic advice, and a peer learning community over one to two years to catalyze the innovations of organizations led by leaders from underrepresented communities through the following initiatives: civic lab (supporting democracy entrepreneurs), proximity (supporting entrepreneurs of color), and unlocked futures (supporting entrepreneurs impacted by the criminal justice system). Through a multi-racial, multi-ethnic network of philanthropists, practitioners, institutional funders, and social impact stakeholders, inclusive impact is designed to catalyze resources to ensure the success of organizations led by black, indigenous and latino/a/x social impact leaders. Inclusive impact is driving four key levers of change in the social sector: 1) significantly increase the flow of unrestricted, multi-year philanthropic capital and capacity building support for nonprofits led by black, indigenous, and latino/a/x leaders; 2) build leadership in the philanthropic sector that is more representative of, and proximate to, the beneficiary populations the sector serves, and sufficiently diverse to ensure a wide range of ideas and solutions are surfaced; 3) commit to building diversity, equity, and inclusion capacity in the social sector and creating organizational environments that are inclusive and supportive of black, indigenous, and latino/a/x leaders, enabling them to thrive; and 4) launch comprehensive and consistent efforts around demographic data collection and analysis throughout the social sector in order to understand the current state of diversity in the sector and identify effective interventions aimed at improving diversity, equity, and inclusion capacity.”

“Portfolio investing - system entrepreneurs early childhood support organizations (ecso) initiative is a $20m public-private partnership between new profit and the massachusetts department of early education and care (eec). The initiative will provide leader and educator development and curriculum services to support better outcomes for underserved children who are enrolled in head start and subsidized care programs in massachusetts. 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. The united states faces an economic mobility crisis, especially for people who must overcome income and race-based barriers to opportunity. Aiming to help generate 10 million more career-ready americans by 2025, learn to earn catalyzes a network of social entrepreneurs, systems leaders, funders, and learners to create holistic solutions that help learners from low-income and underrepresented backgrounds access upwardly mobile careers. The systemic solutions initiative backs innovative, nimble leaders who see a pathway to disrupting and reshaping systems and fostering new capacity in them to achieve equitable and sustainable outcomes. Ssi provides unrestricted funding and strategic support (in the form of build investments) to these "system entrepreneurs" who are bringing multi-dimensional approaches that aim to directly and holistically address the root causes of social problems.”

“Other professional fees: program service expenses 3,122,650. Management and general expenses 362,741. Fundraising expenses 430,387. Total expenses 3,915,778.”

“Cancelled commitments receivable -506,000. Provision for uncollectible commitments -429,573.”

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

“Form 990 is being amended to correct salaries that were erroneously reported. On part vii, reportable compensation in column d was changed as follows: ian magee $243,784 sara conahan $253,018 derrek shulman $235,373 on schedule j, part ii, column b(i) was changed as follows: ian magee $233,784 sara conahan $235,956 derrek shulman $213,873”