New Media Ventures

What it reported doing in 2025

In 2025, new media ventures sustained strong momentum across our responsible ai and latine voices for democracy initiatives while continuing to invest in organizational resilience and team wellbeing. Our latine voices for democracy (lv4d) accelerator supports a cohort of latine-led outlets and creators to develop sharper pro-democracy narratives, counter disinformation in key states, and test advocacy-oriented content that can influence public debate and civic participation where democracy is most at risk. Separately, our responsible ai work backs builders using ai to shift public narratives, strengthen advocacy campaigns, and power organizing strategies, including in explicitly issue-advocacy and electoral-adjacent contexts, while remaining grounded in nmvs power-building mission. Together, these initiatives demonstrate how nmv uses both narrative power and technology to strengthen democracy where it is most contested, laying the groundwork for the broader impact metrics we share below. The year reflected a balance of disciplined execution and adaptive leadership, allowing us to expand programmatic offerings, deepen funder relationships, and respond effectively to a rapidly evolving civic and media landscape. A central achievement was the continued execution of our responsible ai work, through which we supported leaders advancing ethical, inclusive technology and building responsible ai solutions that serve social-welfare goals. We also expanded our lv4d programming by launching a second accelerator cohort focused on latine-led news organizations and content creators, the first u.s.-based accelerator of its kind delivered bilingually. This year, we brought creators and local newsrooms together as equal partners in strengthening pro-democracy narratives and civic participation; over seven months theyre receiving targeted mentorship, training, and partnership support from key technology and media partners to deepen their organizing, storytelling, and audience-building power. We convened the cohort in los angeles for a full-day kickoff and will continue programming into 2026. In addition, we launched three new ongoing peer cohorts with existing portfolio organizationsbuilding & scaling (for for- profit founders), people operations, and organizing post-electionthat meet quarterly to provide structured peer learning and strategic support, with founder-driven agendas and facilitated guidance where needed. Our thought leadership platform also grew significantly in 2025. We continued publishing tools and analysis, including pieces such as not the exception, but the rule: what mamdanis win tells us about reaching millennial and gen z voters and our 2025 pipeline insights: civic infrastructure in the age of ai work. We further advanced our powerbuilding work through the fund the future podcast series (youtube, spotify), produced and hosted under nmv, releasing four episodes over the year that explored topics ranging from reparations and land back to barriers in progressive philanthropy. Across the 2025 tax year, nmv remained focused on amplifying the impact of our portfolio and strengthening ecosystem connections through funder briefings and in-person convenings; in total, our team connected with more than 50 founders and shared over 70 funding opportunities to help them grow their impact.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 75.6%; rating input score 76
• Fundraising efficiency: $4.12 raised per $1 spent on fundraising; rating input score 18; 18th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 90%; rating input score 90; 27th percentile among comparable filings
• Governance controls: 6 of 8 controls in place; rating input score 75
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -51%; rating input score 4; 4th percentile among comparable filings
• Total-asset coverage ratio: 0.34; rating input score 18; 18th percentile among comparable filings
• Liabilities to assets ratio: 0.02; rating input score 34; 34th percentile among comparable filings
• Officer compensation ratio: 21.9%; rating input score 17; 17th percentile among comparable filings

Growth

• Program expense growth: 27.4% per year; rating input score 100; 88th percentile among comparable filings
• Revenue growth: -40.1% per year; rating input score 0; 1st percentile among comparable filings
• Asset growth: -85.4% per year; rating input score 0; 0th percentile among comparable filings