New Profit Inc
Nonprofit profile at a glance
- EIN
- 043396766
- IRS 990 coverage
- 2010–2025
- Forms available
- Form 990 2025
- Location
- Boston, MA, USA
- Phone
- 6179128800
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Nonprofit Management
Reported finances
- Revenue
- $32,899,701
- Expenses
- $54,031,580
- Assets
- $98,782,334
- Liabilities
- $935,163
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
27 people listed
Executive titles in this filing
- TULAINE MONTGOMERY (CEO)
- ELIZA GREENBERG (PRESIDENT)
Highest reported compensation
- TULAINE MONTGOMERY (CEO): $542,352 total reported compensation
- VANESSA KIRSCH (FOUNDER IN RESIDENCE/SENIOR PARTNER): $401,314 total reported compensation
- DOUGLAS BORCHARD (MANAGING PARTNER, COO): $392,699 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
See schedule o.
What it reported doing in 2025
Portfolio - 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.
Operating model
- Revenue model
- Donor-supported. 90% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 71% of its reported program spending out as grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 85
- Transparency & Controls: 83
- Accountability: 92
- Sustainability: 31
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 80.9%; rating input score 81
- Fundraising efficiency: $8.02 raised per $1 spent on fundraising; rating input score 26; 26th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 86.7%; rating input score 87; 16th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -64.2%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 1.83; rating input score 49; 49th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 89; 89th percentile among comparable filings
- Officer compensation ratio: 6.5%; rating input score 46; 46th percentile among comparable filings
Growth
- Program expense growth: 4.6% per year; rating input score 100; 36th percentile among comparable filings
- Revenue growth: 3.8% per year; rating input score 100; 30th percentile among comparable filings
- Asset growth: 8.3% per year; rating input score 100; 58th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 80.9% of spending went to programs
- Governance: 13 of 15 board members independent · 9 of 9 filing controls reported
- Programs: 5 filed program accomplishments · $43.7M in reported program spending
- Leadership: top reported pay $542K · 27 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 4 contractors listed · $1.3M reported
- Consistency: 29 of 29 current checks pass
- Schedules: 8 filed schedules · includes major donors, grants, and executive pay
- Filing history: 13 filing years from 2010 to 2025
- Contacts: How to reach this organization
- Money network: 69 filed money-flow records
- Related organizations: 59 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Fundraising efficiency scored 26/100.
- High — Sustainability: Operating margin scored 1/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
- Moderate — Sustainability: Officer compensation ratio scored 46/100.