Massachusetts · Nonprofit
NEW PROFIT INC
NEW PROFIT INC (Massachusetts) receives grants from 102 organizations whose IRS filings report $219,176,899 to it, the largest being GATES FOUNDATION ($43,024,952). 58 of them have funded it in more than one year, and 54% of the money arrives through donor-advised or pass-through sponsors rather than from an institution directly.
- Revenue FY2025
- $33M
- Funders on record
- 102
- Grants received
- $219M
- Net assets
- $98M
What New Profit Inc does
Mission
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.
As stated on its FY2025 Form 990.
Programs
Portfolio - build 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.
$23,846,674 spentof which $19,000,000 as grants55% of program spendingEcosystem building and policy our ecosystem building efforts engage social entrepreneurs, 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 is new profit's bi-annual community gathering of social entrepreneurs, ecosystem builders, philanthropists, and other social impact leaders. Launched in 2022, the event brings together over 450 members of new profit's community with the goal of facilitating collaborative learning in service of driving greater impact as individuals and as a community. The well creates intentional and organic opportunities to connect across differences in meaningful, action-oriented ways through spaces and activities focused on wellbeing, learning, and coalition-building. Postsecondary innovations for equity (2020-2026) launched in 2020 to support innovators that are building evidence behind new approaches to connecting young adults with the postsecondary credentials and…
$9,407,600 spentof which $4,999,999 as grants$26,350 earned by the program22% of program spendingPortfolio - transform through our transform investments, we provide grantees a $3m+ multi-year, unrestricted grant and advisory support. Transform investments support build portfolio alumni organizations that have a proven model and a strategic path forward towards transformative impact. 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.
$6,146,141 spentof which $5,416,666 as grants14% of program spendingPortfolio catalyze through our catalyze investments, we provide $100k unrestricted grants, a $10,000 grant for leadership development, and strategic advisory support over one year. 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.our grantees are driving impact in education, health, criminal justice reform, democracy, and economic mobility.
$3,733,845 spentof which $1,760,000 as grants9% of program spendingPortfolio - 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.
$552,063 spent1% of program spending
The 5 programs described on its FY2025 Form 990, listed largest first by expense. Program spending in total: $43,686,323.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2020 to 2021, from $64M to $114M (+77%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
90% of NEW PROFIT INC’s revenue is contributions — more donation-reliant than the typical peer (61% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 5 of the last 9 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Chief executive
Tulaine Montgomery
CEO
Board chair
Steve Jennings
Chairman
As listed on its FY2025 Form 990.
Who funds it, year by year
2017 → 2023: the base broadened from 20 funders to 34 funders, grant income rose $16M → $31M.
23 of 102 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 54% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
From the IRS filings of NEW PROFIT INC’s funders (the co-funder graph). Top 30 of 102 funders by total. Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
NEW PROFIT INC has a broad base — no single funder exceeds 20% of grant income, and it takes 4 funders to reach half.
the vertical line marks half of all grant income — 4 funders to its left
58% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund NEW PROFIT INC.
Largest funder’s share by year: 2017 41% · 2018 34% · 2019 31% · 2020 25% · 2021 30% · 2022 31% · 2023 32% — diversifying over time.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How long its funders stay
43% of NEW PROFIT INC's funders are still giving 3 years after their first grant; 57% give in more than one year at all.
Share of funders still giving k years after their first recorded grant, pooled across every acquisition cohort. A funder counts as retained in a year only if it made a grant that year. Measured to FY2023, the last fiscal year that has finished arriving — a funder cannot be counted as lapsed in a year most filers have not reached.
Where its funders are
54% of NEW PROFIT INC's grant income arrives through donor-advised or pass-through sponsors, whose addresses record where the money is held rather than where the donor is. Of the $101M that is directly attributable, 94% of it comes from funders outside Massachusetts, across 21 states.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. $118M arriving through sponsors registered in 14 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Against its field
NEW PROFIT INC holds deeper cash reserves than three-quarters of the 328 community improvement nonprofits its size.
this organization peer median middle 50% of peers· 328 community improvement nonprofits $10M–$100M, FY2025
Organizations like NEW PROFIT INC
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Massachusetts
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
81% of spending goes to programs.
Governance
Public support
59%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Footprint & structure
Files a return copy in 25 states
Screen this organization
A dated, signed PDF of the compliance screen for NEW PROFIT INC: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds NEW PROFIT INC?
- NEW PROFIT INC (Massachusetts) receives grants from 102 organizations whose IRS filings report $219,176,899 to it, the largest being GATES FOUNDATION ($43,024,952). 58 of them have funded it in more than one year, and 54% of the money arrives through donor-advised or pass-through sponsors rather than from an institution directly.
- How many funders does NEW PROFIT INC have?
- IRS filings report 102 organizations giving $219,176,899 in grants to NEW PROFIT INC, 58 of which have funded it in more than one year.
- Who is the largest funder of NEW PROFIT INC?
- GATES FOUNDATION is the largest funder on record, with $43,024,952 in grants. The full list of funders is on this page.
- How can an organization like NEW PROFIT INC find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Massachusetts. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 102 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 14, 2026. What this page cannot tell you · view filing