New Profit Inc.
New Profit Inc. is a company.
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Key people at New Profit Inc..
New Profit Inc. is a company.
Key people at New Profit Inc..
Key people at New Profit Inc..
New Profit Inc. is a Boston-based nonprofit social innovation organization and venture philanthropy fund founded in 1998, focused on backing high-impact social entrepreneurs to advance equity and opportunity in America through education, economic mobility, and democracy.[1][2][4] Its mission centers on providing unrestricted multi-year grants—totaling over $350 million across 250+ organizations—along with strategic advisory support and community networks to help nonprofits scale and address systemic challenges like inequities in tech education, racial justice in teaching, and civic engagement.[2][4][6] New Profit's investment philosophy emphasizes "venture philanthropy," multiplying philanthropic impact by supporting leaders from underrepresented communities who co-design solutions guided by those they serve, using tools like the Growth Diagnostic Tool and Balanced Scorecard for performance tracking.[1][3] Key sectors include education (e.g., Teach For America, CodePath), workforce development (e.g., Year Up, America on Tech), public health, poverty alleviation, and democracy initiatives.[1][2][4] In the startup and social impact ecosystem, it catalyzes growth for second-stage nonprofits, fostering field-building and systems change beyond traditional grantmaking.[4][7]
New Profit was founded in 1998 by social entrepreneur Vanessa Kirsch (also spelled Venessa in some sources), who had previously built Public Allies and the Women's Information Network.[1][3][5] After a year traveling to 22 countries interviewing social entrepreneurs, Kirsch identified a critical gap: nonprofits lacked "second-stage growth capital" to scale beyond startup phases, trapping them in perpetual early-stage mentalities.[1] In 1996, she began developing a venture philanthropy model with input from social entrepreneurs, academics, and philanthropists, launching New Profit with initial support from Monitor Group.[1] Under Kirsch's leadership, it evolved from direct grants in education, workforce, health, and poverty to broader initiatives like the 2010 Pathways Fund for disconnected youth and partnerships such as Deloitte's strategic support since 2013.[1][5] The organization relocated from Cambridge to Boston in 2013 and has since expanded to over 250 portfolio organizations, emphasizing equity-focused leaders from Black, Indigenous, and Latino/a/x communities.[2][5][6]
New Profit's model stands out in the philanthropy landscape through these key elements:
New Profit rides the wave of impact investing and social entrepreneurship, bridging venture capital tactics with philanthropy to scale equity-driven solutions amid rising demands for DEI in education, tech, and workforce pipelines.[2][3][4] Its timing aligns with post-2020 shifts toward systemic equity, funding orgs like The Marcy Lab School (tech jobs for underrepresented students) and Center for Black Educator Development amid tech talent shortages and racial justice movements.[2][4] Market forces favoring it include growing philanthropic commitments to "high-impact" models—evidenced by $350M+ deployed—and collaborations like Deloitte's $4.5M in 2021 for health equity, amplifying reach in intertwined systems of education, economic mobility, and democracy.[5] By prioritizing community-guided leaders, it influences the ecosystem through field-building, diversifying nonprofit leadership, and proving scalable models that shift power dynamics in tech-adjacent fields like edtech and civic tech.[4][6][7]
New Profit is poised to deepen its role in scaling equity infrastructure, potentially expanding Build Investments amid philanthropist interest in unrestricted capital for resilient nonprofits.[2][7] Trends like AI-driven education tools, climate-linked mobility challenges, and election-year civics will shape its portfolio, with eligibility for $2M+ orgs ensuring focus on proven scalers.[4][7] Its influence may evolve toward global systems change or tech-philanthropy hybrids, building on 25+ years of 250+ investments to redefine venture philanthropy—ultimately proving that targeted support unlocks nationwide impact in America's opportunity gaps.[1][2][6]
