2022-03-10T14:58:38-06:00 2019-12-31 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2019-01-01 043396766 NEW PROFIT INC NEWP 6179128800 225 FRANKLIN STREET NO 350 BOSTON MA 02110 DOUG BORCHARD MANAGING DIRECTOR AND COO 6179128800 2022-03-07 1 MATTHEW HUTT CPA P01070603 5083669100 2022-03-07 2019 2022-09-23 18:48:47Z X DOUG BORCHARD 225 FRANKLIN STREET NO 350 BOSTON MA 02110 46877712 0 X WWW.NEWPROFIT.ORG X 1997 MA 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. 20 20 74 20 0 0 27482118 46371399 529725 106037 272169 395267 5751 5009 28289763 46877712 7896000 7275000 0 0 8696642 9423820 0 95000 2638566 6352708 5834662 22945350 22628482 5344413 24249230 50713445 74161462 799420 933780 49914025 73227682 X SEE SCHEDULE O. 0 0 5368259 3250000 111046 SEE SCHEDULE O. 7407354 2950000 SEE SCHEDULE O. 4414440 1075000 SEE SCHEDULE O. 17190053 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 42 0 1 74 1 0 0 0 0 0 0 0 0 0 0 0 0 X 20 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA NY CA X IAN MAGEE CFO 6179128808 225 FRANKLIN STREET SUITE 350 BOSTON MA 02110 VANESSA KIRSCH FOUNDER AND CEO 45.00 X 347649 0 26904 DEBORAH SMOLOVER EXECUTIVE DIRECTOR OF AMER 45.00 X 327437 0 26002 ELIZA GREENBERG MANAGING PARTNER 45.00 X 278862 0 19402 JACOB SCHRAMM MANAGING PARTNER, LEARN TO 45.00 X 265842 0 8287 DOUG BORCHARD MANAGING PARTNER, COO 45.00 X 260640 0 7687 SARA CONAHAN MANAGING PARTNER, SR. PHIL 45.00 X 253018 0 14222 KIMBERLY SYMAN MANAGING PARTNER 45.00 X 238327 0 27418 DERREK SHULMAN MANAGING PARTNER, SR. PHIL 45.00 X 235373 0 24752 IAN MAGEE MANAGING PARTNER, CFO 45.00 X 243784 0 14522 JEFFREY WALKER CHAIRMAN 1.00 X X 0 0 0 BILL MCCLEMENTS CLERK 1.00 X X 0 0 0 STEVE BARNES DIRECTOR 1.00 X 0 0 0 JOSH BEKENSTEIN DIRECTOR 1.00 X 0 0 0 SAM COBBS DIRECTOR 1.00 X 0 0 0 DAVID GERGEN DIRECTOR 1.00 X 0 0 0 PAUL GROGAN DIRECTOR 1.00 X 0 0 0 STEVE JENNINGS DIRECTOR 1.00 X 0 0 0 JAMES PALLOTTA DIRECTOR 1.00 X 0 0 0 VALERIE MOSLEY DIRECTOR 1.00 X 0 0 0 WENDY KOPP DIRECTOR 1.00 X 0 0 0 MATTHEW LEVIN DIRECTOR 1.00 X 0 0 0 HENRY MCCANCE DIRECTOR 1.00 X 0 0 0 DUNCAN MCFARLAND DIRECTOR 1.00 X 0 0 0 KRISTIN MUGFORD DIRECTOR 1.00 X 0 0 0 MARK NUNNELLY DIRECTOR 1.00 X 0 0 0 JOHN RICE DIRECTOR 1.00 X 0 0 0 BRIAN SPECTOR DIRECTOR 1.00 X 0 0 0 VENKAT SRINIVASAN DIRECTOR 1.00 X 0 0 0 MICHAEL CANNING DIRECTOR 1.00 X 0 0 0 2450932 0 169196 30 0 1 0 VOLITION LLC 3 SOUTH BROOK ROAD LINCOLN MA 01771 PORTFOLIO AND STRATEGY CONSULTING 360000 EVALUATION STRATEGY LLC 5019 RENO RD NW WASHINGTON DC 20008 EVALUATION 272000 JOHN KANIA 91 TOWER ROAD LINCOLN MA 01773 PORTFOLIO AND FUNDRAISING STRATEGY 264649 HELAYNE B JONES 840 6TH STREET BOULDER CO 80302 STRATEGY ADVISOR AND DEAL SUPPORT 216000 WILLIAM JACKSON 3749 22ND STREET SAN FRANCISCO CA 94117 PORTFOLIO AND FUNDRAISING STRATEGY 203700 6 46371399 451191 46371399 NETWORKING EVENT FEES 900099 106037 106037 106037 395267 395267 MISCELLANEOUS 900099 5009 5009 5009 46877712 111046 0 395267 X 7275000 7275000 1212510 312370 686869 213271 6886481 4546613 1067684 1272184 164602 104882 29485 30235 634726 403093 116350 115283 525501 316952 112230 96319 50257 50257 23667 23667 95000 95000 3915778 3122650 362741 430387 90511 30904 45054 14553 845285 552683 42106 250496 458737 275124 107007 76606 217385 185886 13673 17826 15422 15422 MISCELLANEOUS 112145 10177 88820 13148 RECRUITING AND TALENT 105475 30052 62165 13258 22628482 17190053 2799863 2638566 3279966 2364745 17172464 23312753 30140544 48108864 104365 344369 62105 31374 16106 30731 50713445 74161462 799420 933780 799420 933780 X 3215166 4782357 46698859 68445325 49914025 73227682 50713445 74161462 X 24249230 -935573 X X 0 1 X 1 0 X 37221348 38960652 16115471 27482118 46371399 166150988 37221348 38960652 16115471 27482118 46371399 166150988 54444777 111706211 1653 24046 80345 272169 395367 773580 74488 282730 1782 5751 5009 369760 167294328 1223847 0.66770 0.75820 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1000000 1000000 1000000 1000000 4000000 6000000 59164 21979 28654 23667 133464 250000 250000 250000 250000 1000000 1500000 62105 31374 30731 30731 X 48008743 2066604 -935573 1131031 46877712 0 46877712 24695086 2066604 2066604 22628482 0 22628482 PART X, LINE 2: THE ORGANIZATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ORGANIZATION HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT DECEMBER 31, 2019 AND 2018. THE ORGANIZATION'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND VARIOUS STATE JURISDICTIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CANCELLED COMMITMENTS RECEIVABLE -506,000. PROVISION FOR UNCOLLECTIBLE COMMITMENTS -429,573. 1 ORR ASSOCIATES INC 3000 K STREET NW SUITE E280 WASHINGTON DC 20007 CONSULTING ON LAUNCHING A FUNDRAISING CAMPAIGN 0 0 81000 -81000 KISHSHANA & CO 5 PENN PLAZA 23RD FLOOR NEW YORK NY 10001 SUPPORTING LTE TEAM WITH FUNDRAISING 0 0 14000 -14000 95000 -95000 MA CA NY 1 ACELERO 63 WEST 125TH STREET 6TH FLOOR HARLEM NY 10027 300077025 N/A 250000 PROGRAM EXPANSION ACHIEVEMENT NETWORK ONE BEACON ST SUITE 02200 BOSTON MA 02108 203289870 501(C)3 500000 PROGRAM EXPANSION ALIENTO (PHX CENTER FOR THE ARTS -FISCAL AGENT) 1202 N 3RD ST PHOENIX AZ 85004 860712649 501(C)3 50000 PROGRAM EXPANSION ALLIANCE FOR YOUTH ORGANIZING 915 5TH ST NW WASHINGTON DC 20001 462465621 501(C)3 50000 PROGRAM EXPANSION BRAVEN 171 NORTH ABERDEEN ST SUITE 400 CHICAGO IL 60607 464340594 501(C)3 250000 PROGRAM EXPANSION CHIEFS FOR CHANGE 1455 PENNSYLVANIA AVE NW STE 400-311 WASHINGTON DC 20004 472373903 501(C)3 15000 PROGRAM EXPANSION EDLOC (EDUCATION LEADERS OF COLOR) 16430 JANINE DRIVE WHITTIER CA 90603 812253548 501(C)3 250000 PROGRAM EXPANSION ENLEARN 400 N 34TH ST 310 SEATTLE WA 98103 461009728 501(C)3 750000 PROGRAM EXPANSION GIRLTREK 3933 PARK AVE FAIRFEILD CT 06825 061811886 501(C)3 400000 PROGRAM EXPANSION GREAT SCHOOLS 1999 HARRISON STREET SUITE 1100 OAKLAND CA 94612 943311628 501(C)3 60000 PROGRAM EXPANSION HIGHLANDER INSTITUTE 166 VALLEY ST BLDG 31 SUITE 101 PROVIDENCE RI 02909 223115046 501(C)3 250000 PROGRAM EXPANSION IMBLAZE (BIG PICTURE LEARNING) 325 PUBLIC ST PROVIDENCE RI 02905 050485883 501(C)3 250000 PROGRAM EXPANSION INACOL 1934 OLD GALLOWS RD SUITE 350 VIENNA VA 22182 200310109 501(C)3 250000 PROGRAM EXPANSION INSTRUCTION PARTNERS 604 GALLATIN AVE STE 202 NASHVILLE TN 37206 475380182 501(C)3 250000 PROGRAM EXPANSION LEADING EDUCATORS 1824 ORETHA CASTLE HALEY BLVD NEW ORLEANS LA 70113 451447048 501(C)3 250000 PROGRAM EXPANSION LEAP INNOVATIONS C/O 1871 222 W MERCHANDISE MART PLAZA SUITE 1212 CHICAGO IL 60654 464784152 501(C)3 650000 PROGRAM EXPANSION MATCH FOUNDATION (MATCH EDUCATION) 215 FOREST HILLS STREET JAMAICA PLAIN MA 02130 043476160 501(C)3 200000 PROGRAM EXPANSION MILLENNIAL ACTION PROJECT 1875 CONNECTICUT AVE NW 10TH FL WASHINGTON DC 20009 472802851 501(C)3 50000 PROGRAM EXPANSION NEW POLITICS LEADERSHIP ACADEMY 9 EAST ST 2 BOSTON MA 02114 462202997 501(C)3 50000 PROGRAM EXPANSION OUR VOICE NUESTRA VOZ 200 TREME ST 201 NEW ORLEANS LA 70112 474564599 501(C)3 50000 PROGRAM EXPANSION PS 305 (50CAN FISCAL AGENT) 1625 K ST NW WASHINGTON DC 20006 273069592 501(C)3 50000 PROGRAM EXPANSION PILLARS FUND 171 NABERDEEN ST SUITE 400 CHICAGO IL 60607 810983087 501(C)3 50000 PROGRAM EXPANSION POWER (PHILADELPHIANS ORGANIZED TO WITNESS EMPOWER & REBUILD) 1429 N 11TH STREET PHILEDELPHIA PA 19122 274327457 501(C)3 50000 PROGRAM EXPANSION POWERMYLEARNING 520 8TH AVE 10TH FLOOR NEW YORK NY 10018 133935309 501(C)3 250000 PROGRAM EXPANSION PUSHBLACK 625 MONORE STREET NE APT 109 WASHINGTON DC 20017 813834388 501(C)3 50000 PROGRAM EXPANSION SPRINGBOARD COLLABORATIVE 2 PENN CENTER STE 1315 1500 JFK BLVD PHILADELPHIA PA 19102 453719806 501(C)3 250000 PROGRAM EXPANSION STATION1 (THIRD SECTOR NEW ENGLAND-FISCAL AGENT) 89 SOUTH ST SUITE 700 BOSTON MA 02111 042261109 501(C)3 50000 PROGRAM EXPANSION THE HEALTH INITIATIVE (PREVIOUS FISCAL SPONSOR GDI) 200 CLARENDON ST 44TH FLOOR BOSTON MA 02116 831490111 501(C)3 400000 PROGRAM EXPANSION THE LEARNING ACCELERATOR 10605 FARALLONE DR CUPERTINO CA 95014 461059054 501(C)3 250000 PROGRAM EXPANSION THE PEOPLE (ONEPEOPLE) 9 MERRIT LN ROCKY HILL NJ 08553 825022984 501(C)3 50000 PROGRAM EXPANSION TRANSCEND 159 LINCOLN AVE HASTINGSONHUDSON NY 10706 300878820 501(C)3 250000 PROGRAM EXPANSION UNBOUNDED 81 PROSPECT ST BROOKLYN NY 11201 431243999 501(C)3 250000 PROGRAM EXPANSION VALOR COLLEGIATE ACADEMIES 4527 NOLENSVILLE PIKE NASHVILLE TN 37211 461413472 501(C)3 250000 PROGRAM EXPANSION ZEARN 261 W 35TH ST 15 FL NEW YORK NY 10001 371665745 501(C)3 250000 PROGRAM EXPANSION 33 1 PART I, LINE 2: "NEW PROFIT'S PORTFOLIO INVESTING MODEL PROVIDES FINANCIAL AND STRATEGIC RESOURCES TO RESULTS-DRIVEN ORGANIZATIONS. NEW PROFIT PROVIDES A PORTFOLIO MANAGER TO EACH ORGANIZATION OR COHORT OF ORGANIZATIONS WHO WORKS CLOSELY WITH THE ORGANIZATION'S LEADERSHIP TO PROVIDE SUPPORT IN A VARIETY OF AREAS, INCLUDING IMPACT INNOVATION, LEADERSHIP AND GOVERNANCE, ORGANIZATIONAL STRATEGY, PERFORMANCE MEASUREMENT, AND MANAGEMENT AS INDICATED IN PART III OF THE FORM 990. APORTFOLIO MANAGER ALSO HOLDS A SEAT ON THE ORGANIZATION'S BOARD OF DIRECTORS THROUGHOUT THE TERM OF NEW PROFIT'S BUILD INVESTMENT IN THE ORGANIZATION." X X X 0 0 0 0 0 0 0 0 0 VANESSA KIRSCH FOUNDER AND CEO 347649 0 0 0 0 0 6000 0 20904 0 374553 0 0 0 DEBORAH SMOLOVER EXECUTIVE DIRECTOR OF AMER 327437 0 0 0 0 0 6000 0 20002 0 353439 0 0 0 ELIZA GREENBERG MANAGING PARTNER 278862 0 0 0 0 0 0 0 19402 0 298264 0 0 0 JACOB SCHRAMM MANAGING PARTNER, LEARN TO 265842 0 0 0 0 0 6000 0 2287 0 274129 0 0 0 DOUG BORCHARD MANAGING PARTNER, COO 260640 0 0 0 0 0 6000 0 1687 0 268327 0 0 0 SARA CONAHAN MANAGING PARTNER, SR. PHIL 235956 0 17062 0 0 0 4750 0 9472 0 267240 0 0 0 KIMBERLY SYMAN MANAGING PARTNER 238327 0 0 0 0 0 6000 0 21418 0 265745 0 0 0 DERREK SHULMAN MANAGING PARTNER, SR. PHIL 213873 0 21500 0 0 0 6000 0 18752 0 260125 0 0 0 IAN MAGEE MANAGING PARTNER, CFO 233784 0 10000 0 0 0 5050 0 9472 0 258306 0 0 0 X 3 451191 FAIR MARKET VALUE 0 0 0 FORM 990, PART III, LINE 1, MISSION STATEMENT: 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. FORM 990, PART 111, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS: 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. FORM 990, PART 111, LINE 4B, PROGRAM SERVICE ACCOMPLISHMENTS: 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. FORM 990, PART III, LINE 4C, PROGRAM SERVICE ACCOMPLISHMENTS: 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. FORM 990, PART VI, SECTION B, LINE 11B 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. FORM 990, PART VI, SECTION B, LINE 12C 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. FORM 990, PART VI, SECTION B, LINE 15 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. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE PROVIDED UPON REQUEST AND IN ACCORDANCE WITH APPLICABLE STATES AND FEDERAL LAWS. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 3,122,650. MANAGEMENT AND GENERAL EXPENSES 362,741. FUNDRAISING EXPENSES 430,387. TOTAL EXPENSES 3,915,778. FORM 990, PART XI, LINE 9: CANCELLED COMMITMENTS RECEIVABLE -506,000. PROVISION FOR UNCOLLECTIBLE COMMITMENTS -429,573. PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, REASON FOR AMENDMENT: 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