New Profit Inc
New Profit Inc is a public charity based in Boston, Massachusetts, that supports social entrepreneurs and organizations working to expand access and opportunity in America. It provides funding and strategic support to organizations seeking to increase their impact, growth, and sustainability.
New Profit Inc at a glance
In short: New Profit Inc gave $31.2M across 59 grants in 2025 (avg $528K), top state District of Columbia. 41% of 2025 grantees were new. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $31,176,665
- +86.1% vs 2024
- Grants made (2025)
- 59
- -28.9% vs 2024
- Average grant
- $528,418
- +161.8% vs 2024
- Median grant
- $375,000
- Total assets
- $98,782,334
- -17.9% vs 2024
- New grantees (estimate)
- 41% first-time grantees (24 of 59, 2025)
- Primary geography
- District of Columbia (27% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to New Profit Inc
- How to Apply
-
Submit a discovery form to be considered for New Profit’s general funding pipeline or for an upcoming or active grantmaking cycle. A discovery form is not an application, and only a subset of organizations is invited to submit a full application. The website does not list application materials or restrictions.
- Contact
Mailing address: 6 Liberty Square 2648, Boston, MA 02109
Phone: (617) 912-8800
Website: https://newprofit.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
4 open opportunities from New Profit Inc
Build Investments
New Profit Inc
Amount
$1.5 million multi-year unrestricted grants
Deadline
Deadline not published
Catalyze Investments
New Profit Inc
Amount
$100,000 in unrestricted grants plus $10,000 for leadership development
Deadline
Deadline not published
Catalyze Investments Grant Program
New Profit Inc
Amount
Up to US $110,000
Deadline
Deadline not published
Who New Profit Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Living Cities ($5.0M). Together the top 10 received $14.0M.
Grant Size Distribution
376 grants across all recorded years
The most common grant size was in the $100–250K range: 171 grants of 376 (45%).
Geographic Focus
Where this funder awards grants
New Profit says its portfolio organizations are across the country and, in its filing, reports that organizations it has invested in serve people in all 50 states. In 2025, the largest shares of grant dollars went to recipients in Washington, DC (27%), California (16%), Illinois (15%), New York (12%), and Georgia (7%).
Grant Distribution by State
Share of 2025 grant dollars across all 59 itemized grants.
States
Cities
Is New Profit Inc open to new grantees?
41%
first-time grantees, 2025
In 2025, 24 of 59 grantees (41%) were first-time recipients. First grants averaged $474K; repeat grants $565K. How we count
Medians: $110K first-time, $375K repeat.
Estimate from itemized grant lists in IRS Form 990 filings (2019–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $7.3M (2019) to $31.2M (2025). In 2025 it made 59 grants totaling $31.2M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Living Cities Washington, DC | Program Expansion | $5,000,000 |
| Braven Inc Chicago, IL | Program Expansion | $1,666,665 |
| Big Picture Learning Providence, RI | Program Expansion | $1,000,000 |
| Girl Trek Incorporated Washington, DC | Program Expansion | $1,000,000 |
| The Health Initiative Concord, MA | Program Expansion | $1,000,000 |
| America on Tech Inc New York, NY | Program Expansion | $875,000 |
| City Bureau NFP Chicago, IL | Program Expansion | $875,000 |
| Democracy at Work Institute San Diego, CA | Program Expansion | $875,000 |
| Digital Promise Global Washington, DC | Program Expansion | $875,000 |
| Fair Count Inc Atlanta, GA | Program Expansion | $875,000 |
Ready to take the next step with New Profit Inc?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $98,782,334 | $32,899,701 | $54,031,580 | $31,176,665 | 59 | $3,339,933 |
| 2024 | $120,251,296 | $33,625,326 | $43,748,913 | $16,750,233 | 83 | $4,011,814 |
| 2023 | $130,066,105 | $74,873,760 | $40,589,935 | $17,091,668 | 102 | $3,271,689 |
| 2022 | $102,096,696 | $22,156,350 | $35,518,909 | $12,610,000 | 85 | $278,559 |
| 2021 | $113,525,114 | $77,118,974 | $27,480,677 | $10,306,000 | 47 | $8,686 |
| 2020 | $64,312,700 | $21,481,917 | $31,384,777 | $13,475,000 | 82 | $101,343 |
| 2019 | $74,161,462 | $46,877,712 | $22,628,482 | $7,275,000 | 34 | $395,267 |
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
New Profit describes its mission as catalyzing the impact of social entrepreneurs who are expanding access and opportunity in America. Its website identifies education, economic mobility, and democracy as areas of investment, as well as emerging issues including mental health and justice-impacted communities. Its filing also describes grantees working in health and criminal justice reform.
New Profit supports organizations led by social entrepreneurs, including leaders it describes as close to the communities they serve. Examples of grantees’ work include Braven, whose mission is to help college students transition to strong economic opportunities; Fair Count, which says it builds long-term power in historically undercounted communities; and The Oakland REACH, a parent-led group focused on empowering families to demand high-quality schools. The Marcy Lab School describes its work as providing young adults with an alternative pathway to technology careers.
Grantmaking
New Profit provides unrestricted grants alongside advisory support and peer learning. Its website describes three support levels: Catalyze, with a $100,000 unrestricted grant and $10,000 for leadership development over one year; Build, with $1.5 million in multi-year unrestricted grants; and Transform, with $3 million in multi-year unrestricted grants for alumni organizations navigating significant inflection points. The filing says portfolio managers support organizations in areas such as leadership, governance, strategy, performance measurement, and management. For Build and Transform investments, a portfolio manager holds a seat on the organization’s board during the investment term.
In filing year 2025, New Profit reported 59 grants totaling $31,176,665. Grants ranged from $110,000 to $5,000,000, with a median of $375,000. Listed grant purposes were program expansion. Among the largest were $5,000,000 to Living Cities; $1,666,665 to Braven Inc; and $1,000,000 each to Big Picture Learning, Girl Trek Incorporated, and The Health Initiative.
There are currently no open funding opportunities listed on New Profit’s funding page. Organizations may submit a discovery form to express interest; submitting one is not a full application. General submissions are reviewed on a rolling basis for strategic alignment, while cycle-specific submissions help assess alignment with a grantmaking cycle. A subset of organizations is invited to complete a full application.
Leadership & Key People
Leadership team and compensation from IRS filings
Officers and directors listed on the 2025 filing include Tulaine Montgomery, CEO; Vanessa Kirsch, Founder in Residence/Senior Partner; and Steve Jennings, Chairman. Directors listed include Kerwin Charles, Sam Cobbs, Alisa Doctoroff, Stacy Janiak, and Matt Levin. Josh Bekenstein is listed as a director until December 2025, and David Gergen as a director until June 2025.
New Profit Inc is led by Tulaine Montgomery, CEO since 2023 (on filings since 2022); 10 of 27 officers listed in 2025 are compensated.
Officers on the 2025 filing
Tulaine Montgomery
CEO
Co-Ceo → CEO, 2023
On filings since 2022
45 hrs/week
$426K (2022) → $524K (2025)
Deborah Smolover
Managing Partner & Executive Director American Forward
Executive Director of Amer → Managing Partner & Executive Director of America Forward, 2021
Managing Partner & Executive Director of America Forward → Managing Partner & Executive Director American Forward, 2025
On filings since 2019
45 hrs/week
$327K (2019) → $337K (2025)
Eliza Greenberg
President
Managing Partner → President, 2023
On filings since 2019
45 hrs/week
$279K (2019) → $357K (2025)
Steve Jennings
Chairman
Director → Chairman, 2023
On filings since 2019
1 hr/week
No compensation reported
Brian Spector
Director
On filings since 2019
1 hr/week
No compensation reported
David Gergen
Director
On filings since 2019
1 hr/week
No compensation reported
Duncan McFarland
Director
On filings since 2019
1 hr/week
No compensation reported
Henry McCance
Director
On filings since 2019
1 hr/week
No compensation reported
Jeffrey Walker
Director
Chairman → Director, 2023
On filings since 2019
1 hr/week
No compensation reported
John Rice
Director
On filings since 2019
1 hr/week
No compensation reported
Josh Bekenstein
Director
On filings since 2019
1 hr/week
No compensation reported
Kristin Mugford
Director
On filings since 2019
1 hr/week
No compensation reported
Sam Cobbs
Director
On filings since 2019
1 hr/week
No compensation reported
Venkat Srinivasan
Director
On filings since 2019
1 hr/week
No compensation reported
Alisa Doctoroff
Director
On filings since 2020
1 hr/week
No compensation reported
Stacy Janiak
Director
On filings since 2020
1 hr/week
No compensation reported
Kerwin Charles
Director
On filings since 2021
1 hr/week
No compensation reported
Matt Levin
Director
On filings since 2021
1 hr/week
No compensation reported
Deborah Quazzo
Director
On filings since 2022
1 hr/week
No compensation reported
Kwasi Mitchell
Director
On filings since 2023
1 hr/week
No compensation reported
Ian Magee
Managing Partner & CFO
Managing Partner & CFO → Managing Partner & Chief Financial Officer, 2021
Managing Partner & Chief Financial Officer → Managing Partner & CFO, 2023
On filings since 2019
30 hrs/week
$244K (2019) → $200K (2025)
Vanessa Kirsch
Founder in Residence & Senior Partner
Founder & Co-Ceo → Founder-In-Residence & Senior Partner, 2023
Founder-In-Residence & Senior Partner → Founder in Residence & Senior Partner, 2024
On filings since 2019
45 hrs/week
$348K (2019) → $364K (2025)
Douglas Borchard
Managing Partner & COO
Managing Partner & Chief Operating Officer → COO, 2023
COO → Managing Partner & COO, 2024
On filings since 2021
45 hrs/week
$274K (2021) → $356K (2025)
Shruti Sehra
Managing Partner, Ecosystem Building & Education
Managing Partner → Managing Partner, Ecosystem Bldg & Educ, 2023
Managing Partner, Ecosystem Bldg & Educ → Managing Partner, Ecosystem Building & Education, 2024
On filings since 2021
45 hrs/week
$236K (2021) → $259K (2025)
Shawn Dove
Managing Partner & Ecosystem Building
Managing Partner → Managing Partner & Ecosystem Bldg., 2023
Managing Partner & Ecosystem Bldg. → Managing Partner & Ecosystem Building, 2024
On filings since 2022
45 hrs/week
$221K (2022) → $256K (2025)
David Levy
Senior Advisor
On filings since 2023
45 hrs/week
$353K (2023) → $363K (2025)
Max Polaner
Managing Partner & Investor Relations
New on the 2025 filing
45 hrs/week
$261K (2025)
Former officers (21)
- Former: Derrek Shulman (2019–2024) — Partner & Senior Philanthropic Advisor
- Former: Mark Nunnelly (2019–2024) — Director
- Former: Steve Barnes (2019–2024) — Director
- Former: Valerie Mosley (2019–2024) — Director
- Former: Wendy Kopp (2019–2024) — Director
- Former: Gia Truong (2023–2024) — Managing Partner, Equity & Proximity
- Former: Matrika Bailey-Turner (2023–2024) — Chief of Staff
- Former: Samuel J. Hiersteiner (2023) — Senior Partner
- Former: James Pallotta (2019–2022) — Director
- Former: Kevin Greer (2022) — Managing Partner
- Former: Kimberly Syman (2019–2021) — Managing Partner
- Former: Trevor Brown (2020–2021) — Managing Partner
- Former: Tulaine Marshall (2020–2021) — Co-Ceo
- Former: Alexander Cortez (2021) — Managing Partner
- Former: Doug Borchard (2019–2020) — Managing Partner, COO & Clerk
- Former: Jacob Schramm (2019–2020) — Managing Partner & Learn to
- Former: Matthew Levin (2019–2020) — Director
- Former: Sara Conahan (2019–2020) — Managing Partner & Senior Phil
- Former: Bill McClements (2019) — Clerk
- Former: Michael Canning (2019) — Director
- Former: Paul Grogan (2019) — Director
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $524K, to Tulaine Montgomery (CEO). 10 officers or directors reported compensation on that filing.
Frequently asked questions about New Profit Inc
How much does New Profit Inc give each year?
New Profit Inc gave $31.2M across 59 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $16.8M across 83 grants.
What is New Profit Inc's typical grant size?
New Profit Inc's median grant in 2025 was $375,000, and its average grant was $528,418, across 59 grants on its 2025 IRS Form 990. Organizations receiving their first grant from New Profit Inc that year got $474K on average.
Where does New Profit Inc give grants?
New Profit Inc's top state is District of Columbia, with 27% of the grant dollars itemized on its 2025 IRS Form 990. The next largest states were California (16%) and Illinois (15%). The most frequent recipient cities were Chicago, IL (8 grants), Washington, DC (6 grants), Oakland, CA (5 grants) and Atlanta, GA (4 grants).
Does New Profit Inc give general operating support?
Not in 2025: none of the 59 grants with a stated purpose on New Profit Inc's 2025 IRS Form 990 were described as general or operating support. Recurring purposes include "Program Expansion" (59 grants).
Who are New Profit Inc's largest grantees?
New Profit Inc's largest 2025 grantees include Living Cities ($5,000,000), Braven Inc ($1,666,665) and Big Picture Learning ($1,000,000), according to its 2025 IRS Form 990. Together they received 25% of its itemized 2025 grant dollars.
How large is New Profit Inc?
New Profit Inc reported $98.8M in total assets on its 2025 IRS Form 990. Its revenue that year was $32.9M.
What does New Profit Inc fund?
New Profit describes its mission as catalyzing the impact of social entrepreneurs who are expanding access and opportunity in America. See mission & focus areas ↑
How do I apply for a grant from New Profit Inc?
Submit a discovery form to be considered for New Profit’s general funding pipeline or for an upcoming or active grantmaking cycle. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is New Profit Inc's EIN?
New Profit Inc's EIN (Employer Identification Number) is 04-3396766. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated October 2026. Sourced from IRS Form 990 filings. Research dossier generated October 2026.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS August 26, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS November 11, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS November 7, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS October 22, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS July 16, 2025)
- Added Form 990 for fiscal year 2019 (received by the IRS March 10, 2022)
- Added Form 990 for fiscal year 2025 (received by the IRS August 25, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in New Profit Inc's focus areas in our free grants database
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Cite this profile
Grantable. (2026). New Profit Inc funder profile. GrantGraph. Retrieved October 10, 2026, from https://grantable.co/funders/new-profit-inc-morg_ffde1c5e1f4141c19293740975e3ff0e
BibTeX
@misc{grantable_043396766_2026,
author = {{Grantable}},
title = {{New Profit Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/new-profit-inc-morg_ffde1c5e1f4141c19293740975e3ff0e},
note = {Accessed 2026-10-10. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from New Profit Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
New Profit Inc down — hundreds of funders to go?