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: Verified by RoundPaper

FY 2024

Verified NonprofitLast Filed 2024EIN 04-3396766

New Profit Inc

BOSTON, MANTEE: S50Founded 1997Website

mission statement

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.

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Total Revenue

$33.6M

FY 2024

Program Spending

78.8%

of total expenses

Known Funders

2019–2024 filings

Key Metrics (FY 2024)

The Numbers

$120.3M

Total Assets

$118.2M net

32.43 mo

Operating Reserves

FY 2024

Active Programs

FY 2024

Total Employees

FY 2024

Funding Track Record

Backed by 87 Institutional Funders

$173.1M raised across 251 grants · +$39.2M committed (2019–2024 filings)

Funder Geography

Funders across 24 states (2019–2024 filings)

Institutional Funding by Year

PaidCommittedBoth

Funder	Location	Total Awarded
Bill & Melinda Gates Foundation	SEATTLE, WA	$32,427,668 +$26,255,355 committed
Fidelity Investments Charitable Gift Fund	BOSTON, MA	$22,943,755
Gs Donor Advised Philanthropy Fund for Wealth Management Inc	NEW YORK, NY	$20,000,000
The Chicago Community Trust	CHICAGO, IL	$15,000,000
The San Francisco Foundation	SAN FRANCISCO, CA	$10,000,000
Boston Foundation Inc	BOSTON, MA	$8,030,000
Jpmorgan Chase Foundation	NEW YORK, NY	$6,130,000 +$6,119,999 committed
Blue Meridian Partners Inc	NEW YORK, NY	$5,400,000
Carnegie Corporation of New York	NEW YORK, NY	$4,850,000 +$3,612,200 committed
Chan Zuckerberg Initiative Foundation	PALO ALTO, CA	$4,500,000

Total tracked: $173,144,577 across 251 grants · +$39,237,554 committed across 25 commitments (2019–2024 filings)

Totals reflect grants as reported on funder tax returns. Timing may not match recipient revenue: funder and recipient fiscal years often differ, and grants paid by a funder in one year may be recognized by the recipient in a different year.

Programs (FY 2024)

What They Do

$13.3M in expenses

See schedule o.

$10.4M in expenses

See schedule o.

$4.9M in expenses

See schedule o.

$4.6M in expenses

Portfolio catalyze through our catalyze investments, we provide $100k unrestricted grants, strategic advice, and a peer learning community over one to two years. Our cohort-based model enables social entrepreneurs to build community with peers and participate in a series of in-person convenings and webinars. This programming is designed to support organizations deepening their impact and scaling their models by tackling key leadership and organizational challenges they face.our grantees are driving impact in education, health, criminal justice reform, democracy, and economic mobility.

$1.2M in expenses

Portfolio - portfolio performance & supportnew profit assumes a variety of roles with grantees including advisor, coach, and board member, in order to provide strategic guidance geared towards building organizations' key capabilities. We believe that increases in these capabilities including leadership, impact model, strategic management and planning, and economic model are the necessary foundation for impact, scale, and sustainability, in the long-term. Throughout the grant term, new profit also invites grantees and alumni to take part in convenings that bring together peer organizations, field experts, and philanthropic players from across our national network.

Financial History