Overview
What is New Profit Inc?
New Profit Inc is a venture philanthropy organization dedicated to uplifting social entrepreneurs in America, whose work focuses on equity and opportunity. Based on the provided information, New Profit acts as a bridge between these leaders and philanthropists, offering them unrestricted grants and strategic support to amplify their impact, scale, and sustainability. They believe that strengthening the capacity of these organizations is crucial for long-term success. New Profit also collaborates with social entrepreneurs and various stakeholders to redefine the approach to social change, encouraging a shift in government and philanthropy's strategies to ensure all individuals can thrive. Since its inception in 1998, New Profit has invested over $350 million in more than 200 organizations and, through its collective advocacy efforts, has unlocked over $1.9 billion in government funding for social innovation.
Official website here: www.newprofit.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 100% - Four-Star out of Four Star rating
New Profit Inc has achieved a perfect score of 100%, earning it a Four-Star rating from Charity Navigator. This high rating signifies that the organization excels in both accountability and financial health, demonstrating strong governance and transparency in its operations. With a majority of its board members being independent, it promotes a sound decision-making process that is crucial for maintaining public trust.
The organization reports an impressive program expense ratio of 81.39%, indicating that a significant portion of its funds is directed towards its programs rather than administrative costs. Additionally, it boasts a strong fundraising efficiency ratio of just $0.07, which highlights its ability to raise funds effectively while minimizing costs. The organization also shows a low liabilities to assets ratio of 3.09%, reflecting its financial stability.
Despite these strengths, it's essential for potential donors and stakeholders to continue monitoring the organization to ensure that it maintains its high standards of accountability and effectiveness over time. Overall, New Profit Inc stands out as a well-managed nonprofit focused on delivering impactful results.
This AI summary has been generated from information found on Charity Navigator.
Is New Profit Inc legitimate?
New Profit Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Profit Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,773,763
Professional Fundraising Fees: $200,402
Other Salaries and Wages: $8,124,406
For more financial information, click here
Official website here: www.newprofit.org
What is the mission statement of New Profit Inc?
New Profit Inc is a venture philanthropy organization that champions social entrepreneurs, advancing equity and opportunity in America. They foster strong partnerships with these leaders, providing unrestricted grants and strategic support to bolster their organizations' impact, scale, and sustainability. New Profit also collaborates with various stakeholders, including policymakers and philanthropists, to shift the approach of government and philanthropy in pursuing social change, ensuring a thriving future for all people. Since its inception in 1998, New Profit has invested over $350 million in 200+ organizations and, through the America Forward Coalition's collective advocacy efforts, has unlocked over $1.9 billion in government funding for social innovation.
Official website here: www.newprofit.org
Who is the CEO of New Profit Inc?
Doug Borchard is the Founder And Co-Ceo of New Profit Inc. The CEO's salary of New Profit Inc is $426,103 and their total compensation is $443,543.
Official website here: www.newprofit.org
What is the revenue of New Profit Inc?
New Profit Inc's revenue in 2022 was $22,156,350.
Official website here: www.newprofit.org
Who are the executives of New Profit Inc and what are their salaries?
The average compensation at New Profit Inc during 2022 was $112,479. There are 88 employees and 21 volunteers at New Profit Inc.
Here are 31 key members and their salaries (New Profit Inc's CEO's salary is $426,103 and their total compensation is $443,543):
- Compensation: $420,242
- Related: $0
- Other: $33,454
- Compensation: $426,103
- Related: $0
- Other: $17,440
- Compensation: $342,260
- Related: $0
- Other: $32,016
- Compensation: $277,788
- Related: $0
- Other: $25,416
- Compensation: $282,915
- Related: $0
- Other: $7,569
- Compensation: $241,685
- Related: $0
- Other: $31,771
- Compensation: $249,376
- Related: $0
- Other: $17,440
- Compensation: $244,129
- Related: $0
- Other: $17,440
- Compensation: $215,235
- Related: $0
- Other: $31,761
- Compensation: $220,972
- Related: $0
- Other: $21,258
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Official website here: www.newprofit.org
Where can I find the form 990 for New Profit Inc?
New Profit Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.newprofit.org
Learn more at the official website: www.newprofit.org
Mission Statement of New Profit Inc
New Profit Inc, a leading venture philanthropy organization, is dedicated to backing social entrepreneurs who are championing equity and opportunity in America. By offering unrestricted grants and strategic support, New Profit aims to amplify the impact, scalability, and sustainability of the organizations it invests in.
In its mission to foster social change, New Profit goes beyond financial assistance. It collaborates closely with social entrepreneurs, forming partnerships that extend beyond the traditional grant-making model. By doing so, New Profit not only bolsters the capacity of these organizations but also enables them to thrive in the long term.
Moreover, New Profit actively engages with policymakers, philanthropists, and other key stakeholders to shift the paradigm of how they approach social change. This collective advocacy efforts, spearheaded by the America Forward Coalition, has successfully unlocked over $1.9 billion in government funding for social innovation. Since its inception in 1998, New Profit has made over $350 million worth of investments in more than 200 organizations, making it a powerful catalyst for positive societal transformation.
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Impact
October, 2024
New Profit Inc significantly influences the landscape of social entrepreneurship by championing equity and opportunity in America. By providing unrestricted grants and strategic support to a portfolio of visionary social entrepreneurs, they enhance the capacity, impact, and sustainability of organizations dedicated to transformative change. Their approach fosters innovation and growth among these leaders, enabling them to address societal challenges effectively.
The organization also plays a pivotal role in bridging the gap between social entrepreneurs and a community of philanthropists, facilitating resources that amplify the efforts of those striving for social justice and economic opportunity.
Moreover, New Profit engages actively with policymakers, philanthropists, and other key stakeholders, seeking to reshape how government and private funding drive social change. Their advocacy through initiatives like the America Forward Coalition has unlocked over $1.9 billion in government funding for social innovation, further reinforcing their commitment to creating a supportive ecosystem for social impact.
Since its inception in 1998, New Profit has invested over $350 million in more than 200 organizations, demonstrating a robust commitment to elevating voices and solutions that advance community well-being. Their work not only helps individual organizations thrive but also contributes to a broader movement aimed at ensuring that all individuals, especially those in marginalized communities, have the opportunity to prosper.
This information is meant to be a general summary of New Profit Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $278,559
- Program Service Revenue: $160,125
- Gross Receipts: $22,156,350
Assets and Liabilities:
- Total Assets: $102,096,696
- Total Liabilities: $3,162,236
- Net Assets: $98,934,460
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NETWORKING EVENT FEES
Revenue
$160,125
Organization Details
Founding Year
1997
Phone
(617) 912-8800Principal Officer
Doug Borchard
Main Address
99 BEDFORD STREET 500, BOSTON, MA, 02111
Website
www.newprofit.orgNTEE Category
Code: S50 - Community improvement
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