New Profit’s Impact Evolution ANNUAL REPORT 2014 - 2015
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CONTENTS
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WELCOME
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A MESSAGE FROM VANESSA KIRSCH & DOUG BORCHARD
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UPDATE FROM THE BOARD CHAIR
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BOARD OF DIRECTORS
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APPROACH
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THE NEW PROFIT MODEL
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2014-2015 MILESTONES & HIGHLIGHTS
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NEW PROFIT INNOVATION FUND
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NEW PROFIT ACCELERATOR FUND
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FOCUS FUNDS
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PATHWAYS FUND
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REIMAGINE LEARNING FUND
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EARLY LEARNING FUND
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REIMAGINE SCHOOL SYSTEMS FUND
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LEARN TO EARN FUND
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AMERICA FORWARD
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PAY FOR SUCCESS
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THE 2015 GATHERING OF LEADERS
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DEVELOPMENT
40
REVIEW OF GIVING
41
INVESTORS
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SUPPORTERS & PARTNERS
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PARTNER IN FOCUS: DELOITTE
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FINANCIALS
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FINANCIALS PORTFOLIO DIRECTORY
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Entrepreneurs, philanthropists, and others in the New Profit network don’t play the game; they transform it.
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Welcome
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UPDATE FROM BOARD CHAIR 6
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A Message From Vanessa Kirsch & Doug Borchard
Innovation, adaptation, and results. These fundamental principles have guided New Profit’s work to redefine what is possible and break down barriers to opportunity since our founding. When we created New Profit in 1998, America lacked a dynamic marketplace for social problem solving and systems-level change. We believed in the power of social entrepreneurs and their insights before most
This is the moment to be bold, think big, and build problem solving ecosystems to surround the challenges we face.
foundations and philanthropists were investing in them, and we created New Profit to find, select, invest in, and scale the best ideas. Our partners have now collectively impacted over 10 million lives. Today, despite the tremendous growth of social entrepreneurship and the impressive results achieved by many organizations, we are still challenged to build this dynamic marketplace. Although we are seeing entrepreneurs, funders, government agencies, and other actors employing innovative strategies that are working, they are operating on
We have, for the last few years, begun shifting our work towards an “aligned action” strategy that brings visionary social entrepreneurs and philanthropists together with change agents from across the public and private sectors to pursue large-scale change. Our new ‘Focus Funds,’ which are issue-specific collaboratives led by seasoned portfolio managers, are bringing entirely new approaches to market in early childhood learning, K-12 educational attainment, college-to-career opportunities, and criminal justice reform.
too small a scale to adequately address our nation’s biggest problems. Nearly 50 million Americans are still living in
Since launching, our Focus Funds have partnered with
poverty and the achievement gap continues to widen, with
leading philanthropists and foundations – including the
two out of three students reading below grade level and one
Bill & Melinda Gates Foundation and the LEGO Foundation –
in five failing to graduate from high school. Racial and ethnic
to support more than 50 high potential organizations with
biases contribute significantly to inequality of educational
capacity building and incubation funding, policy advocacy
opportunities, workforce opportunities, and health outcomes.
guidance, and networking and community building (see
As a result, too many across the nation are still struggling to
pages 18-29 for detailed profiles of each of our Focus
find their footing on the path to opportunity.
Funds).
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We have also continued to focus on selecting and supporting
None of this would be possible without our incredible
the best up-and-coming social entrepreneurs across all sectors
community of investors, partners, and the leadership of our
through the New Profit Innovation Fund (see page 14 for
Board of Directors. We want to give special thanks to our
more information).
outgoing Board Chairman, Josh Bekenstein, who has led New Profit through the past eight years of growth and will continue his service on our Board. Josh has brought, and will
Our efforts to change policy and drive resources toward social
continue to bring, relentless energy and dedication to his
innovation and entrepreneurship have also continued to
work with us. We are so thankful for his leadership,
grow through our nonpartisan initiative America Forward.
mentorship, wisdom, and dedication. In that spirit, we are
We have just launched our America Forward 2016
delighted to welcome Jeff Walker as our incoming Board
presidential briefing book that brings together the best ideas
Chairman. Jeff is a seasoned business leader who has turned
from our social entrepreneurs and other thought leaders in our
his full attention to high-impact philanthropy, and we are
network. We are currently reaching out to Presidential
excited about what is in store for our work together.
candidates and strategists from both parties to raise these ideas, building on our 2008 effort, which directly influenced
The last 18 months at New Profit have been the most
the creation of the White House Office of Social Innovation
exciting in our history. Against a backdrop of rapid advances
and the Social Innovation Fund. We are also participating in
in our understanding of social problem solving in America,
critical dialogue about equity and inclusion in the social sector
we’ve taken advantage of new opportunities that we believe
and beyond through our annual Gathering of Leaders and
will help us achieve greater, more transformative impact
our #OpportunityRedefined digital dialogue series.
in the future. Together, with all of you, we believe that we can move America towards a more just future for all.
Every day, we imagine the type of world that we could live in if we were able to surround all of the nation’s toughest social problems with a network of dynamic
Gratefully,
entrepreneurs, passionate philanthropists, cross-sector
Vanessa and Doug
partners, and other allies.
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“Peace First has had an amazing relationship with New Profit. I have a lot of funders who care about bottom lines and supporters who care about me as a leader, but New Profit is one of the few places that brings these things together in one place. What they care about most at the end of the day is impact.” - ERIC DAWSON
President & Co-Founder,
PEACE FIRST
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Update from the Board Chair
Fifteen years ago, my wife Anita and I first invested in New Profit.
Today, New Profit continues to pursue impact by investing not only in individual organizations, but in a set of organizations focused on specific issues called Focus Funds. Through these collective investments, we are pursuing new
We have had the unique opportunity to witness New Profit’s
partnerships that will push the boundaries on cross-sector
journey and evolution as investors and during my time as
leadership. As you read through this annual report, I hope
a Board Member and as Chairman of the Board since 2007.
you get a sense of the impact we are seeing daily and the
As I hand the reins of the chairmanship over to Jeff Walker,
systemic change that we envision.
I’d like to take a moment to reflect on our experience and bright future ahead for our organization.
Finally, my fellow Board Members and I want to thank New Profit’s investors and partners, and encourage them and
The core of our approach – identifying, investing in, guiding,
others to continue to support the adaptive and innovative
and scaling many of the nation’s best social entrepreneur-led
spirit that underlies New Profit. I’m excited to continue
organizations – has had a significant impact on critical social
working with all of you on the road ahead.
issues. We have just invested in our 50th portfolio organization, and these organizations have collectively touched well over 10 million lives. All of these organizations
Sincerely,
are committed to evidence-based practice, with half of our
Josh Bekenstein
current portfolio implementing or developing formal evidence-based studies. At the same time, our realization that more must be done to drive systems-level change across multiple sectors in key issue areas led to the launch of America Forward, New Profit’s nonpartisan policy initiative, and the expansion of the Gathering of Leaders, our annual event bringing together leading change agents from the private, nonprofit, government, creative, and academic communities.
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Board of Directors
JOSH BEKENSTEIN
ED COHEN
Managing Director
President
PAUL GROGAN President & CEO
BAIN CAPITAL
CARLIN VENTURES, INC.
THE BOSTON FOUNDATION
STEPHEN M. JENNINGS
VANESSA KIRSCH
BILL McCLEMENTS
Principal, Strategy & Operations
Founder & CEO
SVP, Corporate Operations
DELOITTE
NEW PROFIT
MERRIMACK PHARMACEUTICALS
DAVID HARRIS
HENRY McCANCE
NEW BOARD MEMBERS
Provost & Senior Vice President
Chairman Emeritus
TUFTS UNIVERSITY
GREYLOCK PARTNERS
Harris joined the New Profit Board in 2014. As a distinguished leader in academia with experience working in government, David brings an invaluable and diverse perspective to New Profit.
McCance joined the New Profit Board in 2015. “I love working with New Profit because the model that they use is so familiar to me in my career as a venture capitalist. New Profit is using the venture capital model in the nonprofit sector.”
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DUNCAN M. McFARLAND
MARK E. NUNNELLY
JIM PALLOTTA
THE BROMLEY CHARITABLE TRUST
Commissioner
Chairman & Managing Director
MA DEPARTMENT OF REVENUE
RAPTOR CAPITAL MANAGEMENT
BARRY SALZBERG
BRIAN SPECTOR
JEFFREY C. WALKER
Professor
Managing Director
Chairman
COLUMBIA BUSINESS SCHOOL
THE BAUPOST GROUP LLC
MDG HEALTH ALLIANCE
VALERIE MOSLEY
KRISTIN MUGFORD
JOHN RICE
Chairwoman
Senior Lecturer
Founder & CEO
VALMO VENTURES
HARVARD BUSINESS SCHOOL
MLT
Mugford and Mosley joined the New Profit Board in 2014 and 2015, respectively. Both women have been incredible thought partners and investors, introducing New Profit to valuable new contacts and providing input and feedback on the organization’s women’s finance work.
Rice joined the New Profit Board in 2015 as the first social entrepreneur to fill one of two new rotating board of directors seats set aside for founders or leaders of organizations in the New Profit portfolio. The rotating seats were added to make sure that the voices of social entrepreneurs, who along with philanthropists are the key change agents in the New Profit network, are heard in strategic discussions about the organization’s future.
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Approach
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The New Profit Model
NEW PROFIT is a national nonprofit venture philanthropy fund that seeks to break down the barriers that stand between people and opportunity in America. Our core belief is that visionary entrepreneurs and philanthropists can upend the status quo and transform education, early childhood learning, economic empowerment, and public health. We work hand-in-hand with them—and cross-sector and community-based partners—to drive large-scale change through three integrated activities:
1./ WE INVEST IN VISIONARY LEADERS with unrestricted capital and strategic support to help them scale the impact of path-breaking organizations.
(Select Examples.)
2./ WE CHANGE PUBLIC POLICY to drive better social outcomes through innovation and more efficient use of resources.
3./ WE BUILD COMMUNITY and collaboration with problem solvers from across sectors.
BY THE NUMBERS
$1.5B
30+
$150M
250
mobilized for social innovation across all of our work
current investments
raised and disbursed to help scale great organizations
innovative, cross-sector problem solvers at the annual Gathering of Leaders
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2014-2015 Milestones & Highlights
Our Brand
2015 Gathering of Leaders
We refreshed and modernized New Profit’s brand, creating a
Our 2015 Gathering of Leaders, the most successful and
new logo, website, and materials to carry us into the future.
well attended in our history, brought together social entrepreneurs and their counterparts from the public and private sectors for dialogue and collaboration on equity,
Our Board and Team Five visionary leaders joined New Profit’s Board of Directors, including JOHN RICE, the founder and CEO of MLT, who became the first New Profit portfolio organization social entrepreneur to become a board member (see the full list on p. 8-9). We also welcomed a new Chief Financial Officer, GAIL FRANCK, to our leadership team.
inclusion, and technology, among other things.
Partnerships We expanded our groundbreaking partnership with Deloitte, through which we provide world-class strategic support to portfolio organizations. We also launched new collaborations with the Bill & Melinda Gates Foundation to catalyze new progress in education reform, and WME | IMG to change the culture around learning in America.
New Profit Innovation Fund We made a new investment in Third Sector Capital Partners (thirdsectorcap.org), a pioneer of the Pay for Success approach to social innovation financing. We made
America Forward and the 2016 Presidential Election
reinvestments in MLT (ml4t.org) and Family Independence
America Forward, New Profit’s nonpartisan policy arm,
Initiative (fii.org). Finally, we launched a pilot initiative called
helped shape the Workforce Innovation and
the New Profit Accelerator to support dynamic female
Opportunity Act (WIOA), which provides hundreds of
social entrepreneurs as they build organizations.
millions of new dollars for local innovation and social entrepreneurship. America Forward also released its 2016 Presidential Briefing Book, which brings together the best policy
Focus Funds
ideas from social entrepreneurs and others across our network.
Our new Focus Funds, which are collaboratives for ambitious experimentation and ecosystem building around social challenges, took off with support from individual and institutional investors. Full profiles of the funds appear later in this report.
Equity and Inclusion Led by members of our team and inspired by leaders across our network, we began to look deeply at how to make New Profit a more inclusive and equitable organization, while also helping put more power in the hands of people to solve problems in the communities we serve.
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New Profit Innovation Fund Championing visionary leaders. Accelerating game changing solutions.
Overview
Theory of Change
New Profit was founded on the idea that great social entrepreneurs can drive transformative impact if they have access to growth capital and strategic support to help them achieve scale. While we have expanded our activities over time to pull other social change levers like the policy ELIZA GREENBERG
Managing Partner
advocacy and community-building activities explained above, our work with social
WE INVEST New Profit selects the highest potential Social Entrepreneurs.
entrepreneurs remains at the core of what we do. That work lives in the New Profit Innovation Fund (NPIF), which is our learning lab for identifying and catalyzing the best nonprofit and other social impact organizations in America. Through NPIF, we turn philanthropic dollars into growth capital for these organizations, while also providing world class strategic support that is usually reserved for Fortune 500 companies to their leadership teams BOB SEARLE Managing Partner
through a multi-million dollar annual partnership with Deloitte. With this model, we are able to
AND SUPPORT ORGANIZATIONS TO BUILD THEIR CAPABILITIES New Profit provides - Funding - Strategic supports - Access to networks
leverage every dollar that is invested in New Profit powerfully to drive outcomes that go beyond direct service and towards our mission of systemic change. Our work in NPIF is driven by sophisticated due diligence, focused strategic support, and sector leading monitoring and evaluation. It is New Profit’s sensing function, where we take smart
WHICH ENABLES THEM TO STRENGTHEN AND SCALE THEIR IMPACT Organizations are able to - Strengthen direct impact and evidence - Scale lives touched and organization - Enhance financial sustainability
risks in our search for emerging trends and game-changing social innovations. Relative to our other funds, NPIF is the most wide-ranging, which allows us to maintain a robust pipeline of exciting potential investments. AND BUILDS THE PLATFORM FOR BIG CHANGE Organizations develop and strengthen a strategy to increase influence and drive systemic change to close the opportunity divide
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Key Highlights
An investment in Third Sector Capital Partners
A significant investment from the Bill & Melinda Gates Foundation
New Profit invested $1 million in Third Sector, which leads governments, high-performing nonprofits, and private
New Profit recently announced a four year, $15 million grant
funders in building evidence-based initiatives that address
to support an exciting partnership with the Gates Foundation.
society’s most persistent challenges. As experts in innovative
At the core of the effort, the two organizations will leverage
public-private contracting and financing strategies,
New Profit’s unique model in supporting four existing
Third Sector is an architect and builder of the nation’s most
College-Ready Education grantees in the New Profit
promising Pay for Success projects including those in
Innovation Fund with multi-year, unrestricted funding and
Commonwealth of Massachusetts, Cuyahoga County, Ohio,
strategic advisory support on growth, capital aggregation,
and Santa Clara County, California. These projects are
board development, human resources, and other areas.
rewriting the book on how governments contract for social
In addition, the College-Ready Education team and New
services: funding programs that work to measurably improve
Profit will collaborate in two additional areas:
the lives of people most in need while saving taxpayer dollars.
1) The College-Ready Education team will become a core investor and partner in New Profit’s Reimagine Learning Focus Fund (see page 22 to learn more about New Profit’s Reimagine Learning Fund); and 2) The College-Ready Education team and New Profit will work together to codify the capacity building approach and explore a longer-term field building initiative.
<< A LIFT Member learns computer skills during a digital literacy workshop.
CURRENT GRANTEES COLLEGE POSSIBLE EDUCATORS 4 EXCELLENCE FAMILY INDEPENDENCE INITIATIVE FIRST PLACE FOR YOUTH FOODCORPS HEALTH LEADS KIPP
“We are excited to partner with the Gates Foundation, because the hard work of nonprofit capacity building has not traditionally been a focus of large philanthropic funders, even though it can have profoundly positive impact.”
LIFT MLT NEW LEADERS PEER HEALTH EXCHANGE
- BOB SEARLE
Managing Partner, Portfolio Performance and Support, NEW PROFIT
ROCA THE MISSION CONTINUES THIRD SECTOR CAPITAL PARTNERS
To learn more about NPIF, please visit www.newprofit.org/our-work/the-new-profit-innovation-fund/
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New Profit Accelerator Fund Launching female leaders. LEADERSHIP
CURRENT GRANTEES CURRENT GRANTEES
Overview New Profit’s Accelerator Fund was launched in 2014 to accelerate the potential of extraordinary female social entrepreneurs and the impact of their organizations. Our first cohort consists of seven social entrepreneurs who are breaking down barriers to opportunity in America and beyond.
KELLY CUTLER
JESSICA SAGER
Associate Partner
Co-Founder & Executive Director ALL OUR KIN
Accelerator social entrepreneurs receive a boost in the form of a one-time gift, insider access to New Profit networks, and a crash course in New Profit tools. Social entrepreneurs form a cohort, meant as a collaborative learning community to seed new ideas, ignite innovation, and build bigger impact. The idea is simple: women supporting women to change the world. We are grateful to Sarah Peter, one of our visionary New Profit donors, who has funded this program out
ALEXANDRA BERNADOTTE
T. MORGAN DIXON
Founder & CEO
Co-Founder & CEO
BEYOND 12
GIRLTREK
VANESSA GARRISON
LISBETH SHEPHERD
Co-Founder & CFO
Founder and Executive Director
GIRLTREK
GREEN CITY FORCE
LEILA JANAH
MAISHA MOSES
Founder & CEO
Executive Director
SAMA GROUP
THE YOUNG PEOPLE’S PROJECT
of a desire to propel more female social entrepreneurs to scale.
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Key Highlights
New Profit brought Accelerator social entrepreneurs into the
New Profit leveraged key partnerships for the Accelerator
network through inclusion in the Gathering of Leaders.
social entrepreneurs, including our relationship with Deloitte.
As a result, Accelerator social entrepreneurs formed new
JESSICA SAGER of All Our Kin In presented a case study
funding relationships, came away with ideas for strengthening
at a large Deloitte University consultant training. Teams
their organization’s impact, and contributed significantly
of consultants provided analysis and recommendations to
to the dialogue.
Jessica and her team on determining the optimal geography for program expansion. In addition, through the Deloitte Greenhouse, we brought the Accelerator social entrepreneurs together to address key organizational challenges in an
ALEX BERNADOTTE, CEO of Beyond 12, led a pivotal
experiential learning setting.
conversation about race at the 2015 Gathering of Leaders that has continued through New Profit’s entrepreneur-led digital series #OpportunityRedefined, which explores what it means to be on the path to opportunity today (see page 36 for more
This first pilot will wrap up in December 2015 with a closing
information on the Gathering of Leaders).
dinner in New York. Plans are underway to kick off a second Accelerator round in early 2016, and strong candidates are already in the pipeline.
New Profit brought expertise to the table on financial literacy, talent management, fundraising, and other skills and practices through in-person working sessions and webinars. As a result, Accelerator social entrepreneurs strengthened their organization’s capacities and systems.
ALEXANDRA BERNADOTTE, Founder & CEO of Beyond 12, at the 2015 Gathering of Leaders..
MAISHA MOSES, Executive Director of The Young People’s Project, at the 2015 Gathering of Leaders.
“I’ve been moved and roused to action by the cohort of powerful women I’ve had the privilege to work with this year. We’ve practiced tangible skills, gained new connections, and most of all, learned from and been inspired by each other.” - JESSICA SAGER
Co-Founder & Executive Director, ALL OUR KIN To learn more about the women in the New Profit Accelerator Fund, please visit www.newprofit.org/announcing-the-new-profit-accelerator-entrepreneurs/
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Focus Funds Our vehicles for ambitious experimentation and risk-taking with emerging solutions to social challenges. Drawing on our 17 years of experience helping scale
New Profit has five Focus Funds implementing aligned action
high-impact innovations, we bring together like-minded
strategies addressing a specific social problem:
social entrepreneurs, philanthropists and institutional donors, researchers, policy experts and other cross-sector partners for intensive collaboration aimed at catalyzing new approaches and breaking through on intractable challenges.
• Pathways Fund Education and workforce development for low-income youth. (See page 20 for more information)
Our Focus Funds are, in essence, dynamic new problem-solving networks within which unexpected breakthroughs and interactions can, and do, occur. With New Profit as the driver and facilitator,
Transformative learning opportunities for all students. (See page 22 for more information)
Focus Funds integrate the following core activities:
•
• Early Learning Fund
Co-creating and collaborating on vision and strategy, operating plans and
A strong early start for young children. (See page 24 for more information)
measurement; •
Investing in visionary leaders who have created bold solutions with systemic
change potential; •
Advocating for public policy that sets the agenda, redirects resources and leads to better outcomes; and,
•
• Reimagine Learning Fund
• Reimagine School Systems Fund More high performing schools for low-income students. (See page 26 for more information)
Capturing public attention and mobilizing support for major change.
• Learn to Earn Fund Career readiness for 10 million more Americans by 2025. (See page 28 for more information)
• Criminal Justice Reform Fund (In development)
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“On the path to social change there often comes a point when those in the trenches of a particular issue –whether funder or practitioner— ask a different kind of question about scale. It’s a shift away from “How can I scale this organization or program?” to a more challenging question: “How can I scale impact?” Asking this question allows the aperture to broaden, raising the possibility of working through collaborative networks to drive broader impact than is possible working alone.” - From a profile of our Reimagine Learning Focus Fund called “Bridging silos and creating a new vision for learning” by THE MONITOR INSTITUTE & THE ROCKEFELLER FOUNDATION
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Pathways Fund Ensuring that every young person has the power to write their own story.
Overview
LAUNCHED AUGUST 2010 – TO CONCLUDE IN JULY 2016
Successful employment in today’s modern workforce demands more formal education and training than
LEADERSHIP
ever before. By 2018, two-thirds of all jobs will require a postsecondary degree or certificate. However, while education remains the most direct pathway to economic self-sufficiency, access to the education needed for sustainable employment remains elusive for a critical mass of America’s youth, particularly those from low-income, underrepresented communities. Only 60% of America’s low-income youth graduate from high school. Seventeen percent of 16-24 year olds TULAINE MONTGOMERY Managing Partner
PRIMARY FUNDERS
in the United States, or 6.7 million young adults are “Opportunity Youth” who are not attending school, not working, and have no credential beyond high school. The mission of the Pathways Fund is to strengthen the
Corporation for National and Community Service
bridge between education and workforce development
Blue Ridge Foundation New York
to foster opportunity and access for low-income youth.
Carnegie Corporation of New York The Kresge Foundation Oak Foundation Robin Hood Foundation State Street Foundation JPMorgan Chase Foundation
As an inaugural grantee of the Social Innovation Fund (SIF) – one of the nation’s foremost social investment experiments – the Pathways Fund supports six of our country’s most promising social innovations to build a strong evidence base and scale pathways to and
Open Society Foundations
through college and into meaningful work nationwide.
SeaChange Capital Partners
Additionally, the Pathways Fund represents a new way of doing business for the federal government – investing
CURRENT GRANTEES
in social innovations based on evidence of impact versus COLLEGE ADVISING CORPS COLLEGE SUMMIT iMENTOR SINGLE STOP YEAR UP YOUTHBUILD USA
investment formulas or pre-existing relationships.
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Key Highlights
New Profit continued to provide ongoing, individualized
New Profit continued to convene the Pathways Fund’s
technical assistance to the six Pathways organizations,
learning community, which includes senior staff from
focused on strategic planning, organizational growth, board
Pathways subgrantee organizations, co-investors, and leaders
and leadership development, evaluation, fundraising, financial
in the postsecondary education, college access/success, and
systems, and compliance and grants management.
workforce development fields.
The Pathways Fund continued to focus on Focus Fund
Now that the Fund is in its final year, the Pathways team is
activities that provide function-area technical assistance to the
launching a communications effort to create sector stories
six Pathways organizations.
about the Pathways Fund organizations’ impact on the college
•
Evaluation - A Pathways Evaluation Working Group was
access/success and workforce development fields.
established as an ongoing forum for the evaluation leads
The team is working closely with New Profit’s Communications
from each Pathways organization to share questions,
team and the six Pathways organizations to craft a narrative
updates, and best practices related to their individual
that effectively tells the story and results of the 5-year initiative.
evaluation studies, as well as to discuss topical issues such as the external dissemination of evaluation results and management of internal learning. •
Financial Sustainability - The Pathways team secured the Nonprofit Finance Fund (NFF) to tackle the complex issue of the Pathways organizations’ financial sustainability after their federal SIF grant ends, applying their deep knowledge of nonprofit finance management against the specific issues raised by the individual organizations. NFF worked with New Profit and the six Pathways organizations to conduct an assessment of financial sustainability and develop customized sustainability plans for each organization. SANGEETA TYAGI, President of YouthBuild USA, presenting on harnessing the potential of young people at America Forward’s presidential briefing book launch event.
“Inclusion in this network means you’re always learning and always growing. Being a part of New Profit is a validation of your work and a challenge to take it to the next level.”
“We came into New Profit in the first Social Innovation Fund group from the White House. Being among that group of leaders, and being able to learn from was unbelievable in terms of how it accelerated Single Stop’s work. We went very, very To read more about the states to being in ten.” quickly from being in two
- MIKE O’BRIEN
- ELISABETH MASON
CEO, iMENTOR
Bill and Melinda Gates investment, please visit: www. billandmelindaplaceholder.com
Co-Founder, Senior Advisor to the Chairman & Advisory Board Member, SINGLE STOP
To learn more about the Pathways Fund, please visit www.newprofit.org/our-work/focus-funds/pathways-fund/
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Reimagine Learning Fund Reimagining the future of learning in the U.S. so all students can achieve both academic and life success.
Overview
LAUNCHED MARCH 2013
New Profit’s Reimagine Learning Fund (RL) aims to drive a dramatic leap forward in our approach to learning that
LEADERSHIP
embraces the whole child and is centered on learner variability. RL’s work is based on three core beliefs:
• • • SHRUTI SEHRA
JODY CORNISH
Managing Partner
Managing Partner
There is no such thing as an average learner, Social, emotional, and cognitive skills are in extricably linked, and Young people should be guides in their own learning journeys and agents of change in society.
We believe it is especially critical to reach and support students who have not historically thrived in our schools
PRIMARY FUNDERS
—have including student facing barriers to learning like LEAD FUNDERS Bill & Melinda Gates Foundation Oak Foundation
diagnosed learning disabilities, undiagnosed learning and attention issues, and/or chronic stress and trauma—and particularly students from low income communities.
Poses Family Foundation The Peter and Elizabeth C. Tower Foundation Tower Family Fund
ADDITIONAL KEY FUNDERS Anonymous (2)
RL has a three-pronged strategy:
•
translating the latest insights from behavioral
M. Roch Hillenbrand (The Hillenbrand Family Foundation)
science and classroom practice into schools and
Sarah Peter
learning environments and (b) enable collaboration
The Show Me Campaign Tobey Maguire Innovation Fund Wasserman Foundation William Morris Endeavor
•
ANET EYE TO EYE NEW CLASSROOMS INNOVATION PARTNERS
between practitioners. Support district, state, and federal policy shifts to remove barriers and create space for innovation in
•
CURRENT GRANTEES
Deploy funds to (a) support innovators who are
teaching and learning. Mobilize students, parents, educators, and others as advocates for the Reimagine Learning vision.
To date, Reimagine Learning has built a network of over
NEW TEACHER CENTER
500 social entrepreneurs, researchers, educators, policy
PEACE FIRST
influencers, and advocates united by this shared vision.
TURNAROUND FOR CHILDREN
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Key Highlights In February, 2015, Reimagine Learning hosted a public launch
Working closely with the America Forward Coalition,
event at Mercedes-Benz Fashion Week in New York City, as
Reimagine Learning secured key provisions in both the
the highlighted social change initiative for the event. With
successful House and Senate versions of the Elementary and
collaboration from an amazing group of partners – including
Secondary Education Act re-authorization bills, highlighting
John Legend, WME | IMG, Public School NYC, MIT Media
flexible and innovative practices like competency based pilots
Lab and Understood.org - the event introduced powerful
that can make a breakthrough difference for students who
narratives about the lived experiences of students who face
face barriers to learning.
barriers to learning and the innovative organizations that are working to scale solutions that support them in realizing their full potential. In addition to leveraging the national platform of this New York City event, major news outlets including CNN, MSNBC Squak Box, Huffington Post, the Wall Street Journal and the Boston Globe covered the announcement. customized sustainability plans for each organization.
Reimagine Learning launched a competitive Letter of Inquiry process in September 2015 for high-impact incubation funding to support organizations that are demonstrating powerful best in class practices and developing practical tools to scale support for vulnerable learners. The fund also launched a letter of inquiry process in December 2015 for two additional multi-year investments provided to organizations with proven
In 2015, Reimagine Learning hosted two major convenings
capacity to scale innovations quickly and effectively.
in Boston dedicated to collaboration, conversation and action. The first of these brought in experts from neuroscience to educate our community about the science of learner to share advice about how to catalyze innovative change,
“Beneficiary voices have to be what drives innovation. Turning to young people’s lived experiences helps us get to the root of what causes poor outcomes, especially for students with so much stacked against them.”
engaged our practitioners in dialogue with the new head of
(Young Leader’s Panel, June 2015 RL Convening)
availability, engaged experts from the healthcare sector
Boston Public Schools, highlighted the perspective of young leaders who are engaged in educational change efforts and engaged our network in rich conversation about our practice
- MARQUIS CABRERA
Founder & Chairman, FOSTER SKILLS, INC.
and policy work. The second of these convenings launched our newly created Advisory Board, which brings together thought leaders from across sectors to guide and shape our
“Shruti has been on our board and one of the things I’ve been struck by is the amount of immediate value she’s added as we grapple with issues to best practices from across the portfolio.”
work. It also was the inaugural meeting of our Practitioner’s Working Group, which brings our social entrepreneurs together into a dynamic community of learning.
- MORA SEGAL
CEO, ANet
(Young Leader’s Panel, June 2015 RL Convening)
“Every investment that has come via New Profit into Eye to Eye has had not one or two, but tenfold the outcome. We punch above our weight now in Eye to Eye, and that’s something that New Profit’s given us.”
- AMANDA MATOS
- DAVID FLINK
“Students have to see themselves in what they’re learning.”
Founder, WomanHOOD PROJECT
Founder & CEO, EYE TO EYE
To learn more about the Reimagine Learning Fund, please visit www.newprofit.org/our-work/focus-funds/reimagine-learning-fund/
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Early Learning Fund Seeking a world where all children have a start in their earliest years of life that sets them on a course to fulfill their potential.
Overview
LAUNCHED MAY 2015
In the first years of life, 700 neural connections are created every second, forming the architecture of
LEADERSHIP
a young child’s brain. By age four, children living in poverty are behind, often with less brain development for information processing and executive functions than their higher-income peers. We imagine a world where all children have a start in their earliest years of life that sets them on a course to fulfill their tremendous potential. Our nation today has few models that can address the needs of modern families and young children at scale
KIM SYMAN
SHRUTI SEHRA
Managing Partner
Managing Partner
despite 1) extraordinary advances in developmental and translational neuroscience, 2) the emergence of new technologies to facilitate information-sharing and connections, and 3) increasing public belief in the
PRIMARY FUNDERS
importance of the early years. Bezos Family Foundation LEGO Foundation
New Profit’s Early Learning Fund will grow solutions that
Fisher-Cummings Family Fund
support whole-child development and enable all children
The David & Lucile Packard Foundation Rainwater Charitable Foundation
to start school ready to succeed. Our work will bridge gaps between developmental neuroscience, behavioral science, and practice in the highly fragmented early
CURRENT GRANTEES
learning sector, which encompasses all of the adults—
ALL OUR KIN (New Profit Accelerator Fund grantee) DESIGN FOR IMPACT IN ECE INITIATIVE
parents, teachers, and caregivers—who shape children’s earliest experiences.
(partnership with the University of Virginia)
The Fund will invest resources, engage in policy work, and pursue field-level change goals to:
•
Create connections and partnerships between university-based early learning practitioners and
• •
scale-oriented social entrepreneurs; Platform research-rooted content and interventions onto new vehicles for scale (e.g., technology); and Support entrepreneurs leading high-impact organizations to grow proof points for the field.
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Key Highlights The Fund has raised a $5M anchor commitment from the
The Fund launched working groups to explore investment
LEGO Foundation.
opportunities in three emerging focus areas: 1) Parents as Agents of Change Transforming the nature of information, support, and
In the fall of 2015, the Fund began a partnership with the
community available to help parents effectively foster
Joan Ganz Cooney Center at Sesame Workshop (JGCC),
their children’s early development
working with JGCC Executive Director, MICHAEL LEVINE, who is serving as a Senior Partner with New Profit. SHRUTI SEHRA, Managing Partner at New Profit, brought
her expertise to the Fund as a co-leader as well.
2) High Quality Pre-K Translating the wealth of research about supports and conditions required for high quality pre-K into classrooms nationwide 3) Technology
The Fund hosted two energetic and dynamic launch convenings. Over 50 luminaries—funders, researchers, and
Evolving the early learning field for our changing digital landscape
practitioners—in the field gathered at the convenings to discuss the Fund’s pillars, strategy, and opportunities for action.
The Fund has accelerated its work with the University of Virginia to develop and pilot the Design for Impact in Early Childhood Education (ECE) Initiative. This initiative will bring together researchers, practitioners, and community leaders to enhance the effectiveness of pre-K programs by equipping them to implement a package of program elements (e.g. curricula, professional development, data systems, etc.) reflecting the best the field has to offer.
Toy making at AVANCE.
“We urgently need new forms of innovation in the early learning field. The Fund has great potential to stimulate collective action and breakthrough impact.” To read more about the Bill andLEVINE Melinda Gates investment, please visit: - MICHAEL www. Director, billandmelindaplaceholder.com Executive
JOAN GANZ COONEY CENTER AT SESAME WORKSHOP
To learn more about the Early Learning Fund, please visit www.newprofit.org/our-work/focus-funds/early-learning-fund/
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Reimagine School Systems Fund Working to rapidly and significantly increase the speed in which high-performing schools are created to serve low-income communities — both charter schools and district schools. SOFT LAUNCH JANUARY 2015
FORMAL LAUNCH
Overview
AUGUST 2015
In the U.S., 22 million public school students qualify for Free and Reduced Lunch. Those students have a
LEADERSHIP
10% chance of college completion compared to 82% for the students in the top economic quartile (and 31% for all Americans). That means almost 16 million low-income children currently in our public schools will not complete a college education. The RSS fund seeks to rapidly and significantly increase the speed in which high-performing schools are created to serve low-income communities – both charter schools and district schools – by pursuing two strategies: ALEX CORTEZ Managing Partner
Strategy 1: Create Actionable Demand for High-Quality Schools by supporting organizations and capacitybuilding efforts to develop a ‘pragmatic playbook’
PRIMARY FUNDERS
on how to influence changes in district (and if Anonymous Rick and Nonnie Burnes
applicable state) policies and politics that enable high-quality schools to grow.
Charles and Rebecca Ledley Henry and Allison McCance Kristin and Stephen Mugford The Reeder Foundation
Strategy 2: Increase the Supply of High-Quality Schools to Meet Demand by supporting growing school
Edward and Barbara Shapiro
operators (with some emphasis on whole-school
Brian and Stephanie Spector
restarts), and school operators or other
The Show Me Campaign
nonprofits who are turning the lessons of high-performing schools into resources and services
CURRENT GRANTEES
that enable both charter and district schools to accelerate MATCH EDUCATION INNOVATE PUBLIC SCHOOLS
growth with quality. The Fund is seeking to support both national efforts as well as efforts in a specific set of districts where investment on both the demand and supply side will demonstrate how to create a deep penetration of high-performing schools throughout a district.
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Key Highlights
The Fund conducted due diligence on four potential investments; completed two investments and started follow-on advisory support for Match Education and Innovate Public Schools.
For 2016, the RSS Fund has organized itself into five priorities: 1. Providing multi-year funding and advisory support to entrepreneurial organizations that are building proof-points of how to achieve policy and/or political wins on the demand side, and organizations growing or supporting the growth of
The Fund organized a group of two dozen leaders in district/ state government, nonprofits, school operators and philanthropists across Boston, Springfield and Lawrence, MA to conduct a 2-day visit to Spring Branch, Texas (Houston area) to observe an example of deep, successful charter/district engagement and develop a set of recommendations on charter/district collaboration for Boston.
high-quality schools on the supply side. 2. Making smaller but strategic bets on specific initiatives in both the supply and demand strategies. Some may be bets on single organizations and others on collaborations; some may also be focused on specific geographically based efforts with high potential for impact. 3. Enabling efforts to shift mindsets and build capacity in this space by creating clear, accessible content that demystifies and destigmatizes how nonprofits and philanthropists can
The Fund held a convening in June of ~70 leaders in education-related community organizing / advocacy / electoral work, school operators, and philanthropists to: a) dig into the tensions that inhibit the effectiveness of driving systemic change in the education sector (in particular
fully act to drive policy and political change. 4. Cultivating a community of learning and action to build collaboration across key actors on both the demand and supply side of systems change.
the tension of who owns the agenda in driving place-based
5. Funding/developing programs serving emerging
education reform), b) how practitioners and philanthropists
education entrepreneurs of color to support the growth of
can work to overcome these tensions, and c) how to do this
leadership in education nonprofits to be more representative
within the context of building more diversity to reflect the
of the communities they serve.
communities we are seeking to serve.
“A New Profit investment offers us the benefit of their experience and network of resources in helping scale some of America’s highest-impact education organizations.” - STIG LESCHLY
CEO, MATCH EDUCATION
Redwood City Council member ALICIA AGUIRRE, Innovate Public Schools parent leaders MARITZA LEAL, ISABEL OCAMPO, and ENRIQUE ESPARZA, and KIPP Principal KYLE SHAFFER come together for a ribbon-cutting ceremony at KIPP Excelencia Community Prep in Redwood City, CA.
“New Profit brings a national perspective and deep expertise in scaling programs and organizations. We look forward to leveraging their resources as Innovate explores how to create deeper impact in the Bay Area and broader impact nationally.” - MATT HAMMER
Founder & CEO,
INNOVATE PUBLIC SCHOOLS
To learn more about the Reimagine School Systems Fund, please visit www.newprofit.org/our-work/focus-funds/reimagine-school-systems-fund/
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Learn to Earn Fund Scaling innovations to add 10+M more career-ready Americans.
Overview
LAUNCHED APRIL 2015
National leaders are calling for a dramatic increase in postsecondary attainment, pushing for 10+ million more
LEADERSHIP
career-ready Americans by 2025. At the same time, employers are frustrated that graduates do not have the competencies required for career success, and families, students and policy makers are questioning the cost of postsecondary education. Innovators have rushed in to tackle the challenge. But too few effective low-income innovations have scaled, leaving our most vulnerable students further behind.
VANESSA KIRSCH
J.B. SCHRAMM
Founder & CEO
Managing Partner
No single innovator can overcome these challenges and redefine what is seen as possible for advancing career-readiness for low-income students. Our approach is to build a community of diverse innovators and
PRIMARY FUNDERS
aggregate a fund to spark disruption. Learn to Earn Bloomberg Philanthropies
will support the scaling of postsecondary solutions with
Bill & Melinda Gates Foundation
proven impact for low-income and under-represented
Lumina Foundation
students. We are pursuing opportunities in four areas:
Spencer Foundation Walmart Foundation
•
Sparking the development of more scalable, effective ways to help Americans develop
KEY PARTNERS
“Power Skills”— skills like leadership, critical thinking, problem solving, communication, and
CVS DELOITTE CONSULTING HARVARD SCHOOL OF GRADUATE EDUCATION INSTITUTO DEL PROGRESO LATINO
teamwork that employers most urgently need.
•
MCDONALDS STARBUCKS XPRIZE
high graduation rates.
•
YOUTHBUILD USA *Learn to Earn has not made any direct investments yet
Encouraging the development and scale of lowcost, quality postsecondary models that achieve
MATCH EDUCATION
Scaling innovations developed within existing postsecondary systems.
•
Building the field of college access and success organizations to better equip low income young people to be able to navigate the transition from learning to earning.
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Key Highlights
In conjunction with America Forward and the Lumina Foundation, the Fund launched a communications and policy effort for the 2016 Presidential campaign that focuses on increasing awareness about the diversity of today’s college students.
The Fund hosted successful convenings in March and June 2015 to advance measurement principles in the College Access and Success field and to build a community of aligned funders focused on accelerating the efforts of social entrepreneurs.
In partnership with XPRIZE, the Fund laid the groundwork to design and launch a Prize Competition (grand challenge) in 2016 focused on incentivizing more scalable, effective ways for Americans to develop the set of skills that are most highly valued by employers but are not widely taught in K-12 and postsecondary systems today (Power Skills).
“Innovators are disrupting postsecondary education, but without delivering gains for low-income students at scale. Learn to Earn is building a powerful community of funders and social entrepreneurs to scale postsecondary solutions with proven impact for students who have the greatest potential to transform American communities.”
To read more about the Bill and Melinda Gates investment, please visit: www. billandmelindaplaceholder.com
- J.B. SCHRAMM
Managing Partner, LEARN TO EARN FUND, NEW PROFIT
To learn more about the Learn to Earn Fund, please visit www.newprofit.org/our-work/focus-funds/early-learning-fund/
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America Forward Uniting social entrepreneurs and policymakers. Transforming local impact into national change.
Overview
LAUNCHED FEBRUARY 2007
America Forward is New Profit’s nonpartisan policy initiative based in Washington, DC. America Forward
LEADERSHIP
unites social innovators with policymakers to advance a public policy agenda that champions innovative and effective solutions to our country’s most pressing social problems. The America Forward Coalition is a network of more than 70 innovative, impact-oriented organizations with a collective mission to foster innovation, identify more efficient and effective solutions, reward results, and DEBORAH S. SMOLOVER, J.D. Executive Director, America Forward Managing Partner, New Profit
COALITION MEMBERS
70+
COALITION RAISED TOREACH DATE
14,500 COMMUNITIES ACROSS THE COUNTRY EVERY DAY, TOUCHING THE LIVES OF NEARLY 8 MILLION AMERICANS EACH YEAR.
catalyze cross-sector partnerships. America Forward focuses on five key areas of work:
•
Forward Task Forces unite in advocacy efforts and pursue collective policy agendas in education, workforce development, and Pay for Success.
•
Incubate cutting edge ideas: America Forward develops promising social innovation policy proposals and advances bold new ideas.
•
LEVERAGED PUBLIC FUNDING
Advance innovative policy platforms: America
Develop organizations’ wide-spread impact: America Forward partners with innovative
$1.5B
organizations and New Profit’s Focus Funds to help build their policy and systems change capacities and foster cross-sector collaborative learning opportunities.
•
Amplify field leadership: America Forward advances New Profit’s field leadership goals
KEY PARTNERS
through engagement in the 2016 Presidential election, events, partnerships, and media.
•
Support service and social innovation: America Forward supports strategies that increase opportunities for national service and spread the reach of social innovation policy.
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Key Highlights
America Forward is shaping and ensuring effective
America Forward is advancing Pay for Success and
implementation of critical federal policies and
other results-oriented innovative funding strategies
programs in Education and Workforce Development
America Forward continues to identify opportunities to
Education: America Forward has continued to be a strong
advance Pay for Success in programmatic and appropriations
voice in Congressional reauthorization of the Elementary and
legislative vehicles. This work has included deep engagement
Secondary Education Act (ESEA), a sweeping bill with
to ensure the passage of the Social Impact Partnership Act
significant impact on all our nation’s schools and the
(SIPA) and support for continued funding of important Pay
organizations that work closely with them. The America
for Success and evidence-based policies such as the Social
Forward team is working closely with Congress and the
Innovation Fund (SIF), Investing in Innovation (i3) Fund,
Administration on priorities in ESEA, including recognition
Performance Partnership Pilots (P3), and the Second Chance
of the role of effective partnerships, authorization of Pay for
Act Pay for Success demonstration. (See page 34 for more
Success initiatives, support for innovative education projects,
information on Pay for Success).
transparency of data on postsecondary enrollment, and a new pilot program for innovative, competency-based assessments. Workforce Development: America Forward helped champion and ensure the passage of the bipartisan Workforce Innovation and Opportunity Act (WIOA) to reauthorize the Workforce Investment Act. WIOA was signed into law and included an America Forward developed Pay for Success option that would enable state governments and local workforce boards to use up to $600 million dollars for Pay for Success contracting. The language is a result of several years of partnership with key champions on both sides of the aisle in the House and Senate. Since passage, America Forward has been conducting outreach to states and localities to provide education and technical support in their implementation of the WIOA Pay for Success authorities along with continuing to work with the Administration on the regulatory process to ensure effective guidance is provided for those and other provisions.
2016 Presidential Engagement America Forward launched its 2016 Presidential engagement with the release of Moving America Forward: Innovators Lead the Way to Unlocking America’s Potential, a new Presidential briefing book. Moving America Forward contains fresh and disruptive ideas for policymakers and the current slate of presidential candidates who aspire to unlock the potential of all Americans. The announcement of Moving America Forward was made at an event in Washington, DC, hosted by America Forward and S&R Foundation. The event featured speakers, including
“The America Forward briefing book is important because it contains ideas and solutions that everyone can embrace and believe
leaders of YouthBuild USA, New Classrooms Innovation Partners, Year Up, Roca, Beyond 12, and uAspire. These
in. They’re not ideas that are right wing or left wing, or of a
organizations and others in the America Forward Coalition
particular party’s influence. They’re ideas that are American and
are working in communities across the country to scale results
they’re ideas about lifting people up and providing opportunity.”
and have actively shaped the ideas in the policy briefing book.
- BOB GIANNINO
CEO, uASPIRE (AN AMERICA FORWARD COALITION ORGANIZATION)
To read the full presidential policy briefing book and more on America Forward’s 2016 Presidential campaign engagement, please visit: www.americaforward.org/2016-presidential-engagement.html
To learn more about America Forward, please visit www.americaforward.org
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America Forward Uniting social entrepreneurs and policymakers. Transforming local impact into national change.
On July 22, 2014, PRESIDENT OBAMA signed the Workforce Innovation and Opportunity Act (WIOA), the first significant update to federal workforce legislation since the late-1990s.
Panelists SHAWN BOHEN, Principal of Year Up, KATHY STACK, Vice President of Evidence-Based Innovation of the Laura and John Arnold Foundation, MARTA URQUILLA, Deputy Director of the Beeck Center for Social Impact and Innovation, and Pollster, Author, and Co-founder of Echelon Insights KRISTEN SOLTIS ANDERSON, lead a discussion focused on translating the success of proof points into government reform and policy change at the America Forward launch event of the presidential policy briefing book, Moving America Forward.
An iMENTOR class celebrating graduation.
A JUMPSTART FOR YOUNG CHILDREN CORPS member with her student.
A READING PARTNERS student unlocking her learning potential.
A KIPP SCHOOLS classroom.
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“America Forward has made a powerful and wholly unique contribution in a very few short years. Many ‘policy shops’ are content to advocate for their stakeholders’ status quo, usually a funding stream. But America Forward is actually creating new policies and markets for the adoption of good practices. It’s not about protecting a funding stream but rather helping to shape and steward new means of investing for impact. The team has put meat on the bones of ‘innovation’ not just as an inherently good or interesting thing, but as a way to better serve the public’s needs and more responsibly steward the public’s investments.” - MELINDA HUDSON
Vice President, Senior Advisor to the Chair & CEO, AMERICA’S PROMISE ALLIANCE (AN AMERICA FORWARD COALITION ORGANIZATION)
“I would love for our government to start focusing on solutions, focusing on innovation, and to start highlighting all of the things that are happening on the ground that we know are moving America forward... The America Forward policy briefing book is one solution in that direction.” - ALEX BERNADOTTE
Founder & CEO, BEYOND 12 (AN AMERICA FORWARD COALITION ORGANIZATION)
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Pay For Success Driving public resources towards innovative programs that work better for people in need.
Overview New Profit has been actively involved in the growth of the Pay for Success movement, which seeks to drive public resources towards more innovative, high-impact organizations that are delivering better outcomes for people in need. Pay for Success contracting involves cross-sector collaboration between government and social services providers, and may also include other partners such as foundations, investors and other entities. In this movement, government dollars are tied to results rather than the cost of services provided or the number of people served. In some cases, private sector partners come together to provide up-front growth capital for the high-impact social service providers all of whom are in pursuit of ambitious outcomes and strengthened accountability. If the outcomes are achieved, based on independent evaluation, the private sector funders, and in some cases even providers, are entitled to reimbursement. In addition, new evidence is available to inform policymakers’ decisions about budgeting and programming. New Profit is involved with a number of specific Pay for Success initiatives across the country:
New Profit is an investor in the Massachusetts Juvenile Justice Pay For Success Initiative, an effort to scale Roca, Inc.’s program that helps at-risk young men avoid repeat incarceration and build better lives that launched in February, 2014.
America Forward, New Profit’s nonpartisan policy initiative, has been instrumental in raising awareness of Pay for Success’ potential in Washington and beyond. America Forward was a lead advocate for inclusion of Pay for Success provisions in the Workforce Innovation and Opportunity Act of 2014. America Forward is also collaborating with Third Sector Capital Partners (New Profit Innovation Fund) on a new $1.9M award from the Social Innovation Fund of the Corporation for National and Community Service to explore and expand Pay for Success programs in local communities that want to address youth development, economic opportunity and public health.
America Forward is also leading efforts to ensure passage of the Every Child Achieves Act and Social Impact Partnership Act (SIPA), which would both provide authority to use federal funding in the development of Pay for Success projects that have federal program and budget implications.
“America Forward has been a leading force in the movement to get better results through Pay for Success and transform the way we address social challenges in America.” - DAVE WILKINSON
Director,
THE WHITE HOUSE OFFICE OF SOCIAL
INNOVATION AND CIVIC PARTICIPATION
MOLLY BALDWIN, Founder & CEO of ROCA, INC., presenting on her organization’s involvement with the country’s largest Pay for Success project in the country at America Forward’s presidential briefing book launch event.
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PAY FOR SUCCESS Target population and desired outcomes are clearly identified.
POPULATION SERVED
Pays for successful outcomes after services are delivered and results are evaluated. (Initial service delivery could be financed through a social financing mechanism.)
SERVICE PROVIDER
PROJECT MANAGER / INTERMEDIARY
PAYOR
Manages project and all stakeholders.
THIRD PARTY EVALUATOR
Independently identifies metrics and evaluates outcomes, reporting data to provider and payor.
TYPES OF PAYORS
GOVERNMENT
PRIVATE INVESTORS/ PHILANTROPHY
Pay for Success A type of pay for performance-based contracting between government and service providers in which impact is measured rigorously and government makes “success payments,” or increases a provider’s market share, only when results are achieved within a specific timeframe.
FINANCIAL INSTITUTIONS/ CDFIs
PRIVATE ENTITIES
Social Innovation Financing A tool designed to address the payment delays and uncertainties inherent in Pay for Success contracting. In Social Innovation Financing, private funders, using various financial instruments, provide working capital to service providers with Pay for Success contracts to deliver social, health, housing, community development, and similar services, and those private funders take on the financial risk that the service provider will not meet the level of success necessary to trigger performance payments. Social Impact Bonds are one form of Social Innovation Financing (but are not actually bonds in a traditional sense).
To learn more about Pay for Success, please visit www.newprofit.org/our-work/next-big-ideas/pay-for-success/
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The 2015 Gathering of Leaders Bringing together cross-sector leaders to develop and advance big new ideas for social impact.
Overview Over the past eleven years, the Gathering of Leaders has become recognized as one of the nation’s most influential convenings of social innovators and their counterparts in business, government, philanthropy, media, technology and academia.This invitation-only event brings together approximately 250 Gathering participants annually for an intimate two-day convening to accelerate solutions to our nation’s toughest problems in early childhood development, K-12 and postsecondary education, workforce development, community health, poverty, and related areas. Participants challenge each other’s beliefs and assumptions,
An exploration of the power of adaptation Complex, large, dynamic problems require evolutionary approaches, because no simple answer can exist that works everywhere that this problem is experienced, and for all times. In a keynote by economist TIM HARFORD, and multiple breakout sessions, we
explored what we as funders, organization leaders, policy makers, corporate partners, etc. can do to retain high expectations on rigor and evidence of impact, while not just allowing for but actively supporting adaptation in the service of greater social impact over time.
forge new connections, spark ideas, align strategies, and shape initiatives that unlock the potential of social innovation to expand social mobility in communities across the nation.
A focus on how the problems that get solved have everything to do with who is doing the solving
Key Highlights
The idea of social entrepreneurship rests on the insight that while social change is a team sport, the game is set in
Managing Partner KIM SYMAN has led listening tours to inform the content and programming for the Gathering, allowing for co-creation with New Profit’s community, portfolio organizations and investors.
motion because of an individual (or a bunch of individuals) with an insight born from experience for a better way to do something, and the wherewithal to do something about it. That emphasis on insight born from experience—as opposed to ideological theorizing—makes even more poignant the fact that our field has often undervalued those with the greatest insights—people who are directly
A set of personal, powerful conversations on race, bias, and opportunity and the social sector
experiencing a problem. Constituent-led change, design thinking, community capacity building, crowd-sourcing,
The 2015 Gathering lifted up the ways in which implicit
data feedback loops to communities, and other approaches
bias, particularly racism, is a powerful force in the social
are making extremely important advances in the Gathering
sector—as it is elsewhere in virtually all aspects of our
community and the social innovation field more broadly,
society. For many, one of the most powerful outcomes of
and are increasingly embraced as first principles.
this discussion was an appreciation that the state of play for our sector is not only inadequate from a social justice perspective—it also constrains in profound ways our ability to achieve our missions and solve social problems authentically, sustainably, and at scale.
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The 2015 Gathering left us curious to further explore: • • •
HOW TO FAIL FAST AND ADAPT BOLDLY… THE ROLE OF RACE IN OUR LIVES AND WORK, AND HOW TO BREAK THE SILENCE… WHAT IT WILL TAKE TO GET BETTER AT FINDING LEADERSHIP IN NEW AND UNEXPECTED PLACES…
New Profit is continuing the dialogue started
New Profit has continually expanded its network
at the 2015 Gathering in an online series called
of innovators
#OpportunityRedefined New Profit’s field leadership team launched an
At the 2015 Gathering of Leaders, one-third of the attendees were new.
entrepreneur-led digital series, building on dialogue that leaders started at New Profit’s 2015 Gathering of Leaders, to explore what it means to be on a path to opportunity today. The goal of the digital series is to lift up amazing ideas and leaders, provoke conversation about the opportunities and challenges, and drive action and collaboration. Topics include: •
Race, Class and the Social Innovation Sector
•
Behavioral Science and Social Impact
•
Transforming Measurement
•
Evaluation of the 2016 Presidential Election
•
Pay for Success/Innovative Financing
•
Reforming Government/Politics
Follow the conversation with #OpportunityRedefined on New Profit’s Blog “Amplify,” Twitter, and Facebook
“When you join New Profit, you’re now immersed in a community and surrounded by leaders who are constantly asking themselves what does it mean to lead and scale an organization and drive maximum impact? This is unique; there are very few networks that I’ve encountered 25 years in this work that bring that ability.” - RICHARD BARTH
CEO, KIPP
DR. NADINE BURKE HARRIS, Founder & CEO, CENTER FOR YOUTH WELLNESS, presenting on efforts to transform pediatric healthcare to get better outcomes for children who have experienced extreme adversity, at the 2015 Gathering of Leaders.
“The Gathering is the single biggest and highest quality set of individuals that one could interact with from an intellectual perspective, and from a partnership perspective. It’s the cream of the crop of people in the social sector.” - VINEET SINGAL
Co-Founder & CEO, CAREMESSAGE
To learn more about the Gathering of Leaders, please visit www.newprofit.org/our-work/next-big-ideas/the-gathering-of-leaders/
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Development
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Review of Giving
THE NEW PROFIT DEVELOPMENT TEAM
Greetings! New Profit continues to evolve its approach to engaging and collaborating with philanthropic partners to drive impact. During the past 18 months, we transitioned away from a centralized development function, with one team responsible for raising resources and stewarding donors, and towards a structure that enables development activity to be owned by the senior leaders
KATHRYN PRICE
DERREK L. SHULMAN
Managing Partner, Development Operations
Partner, Senior Philanthropic Advisor
of each of our programmatic areas. With development responsibility now shared among more people within the organization, we can offer our donors the opportunity to build meaningful relationships with more members of our team and experience deeper dives into the content areas that they are most passionate about, gaining even greater access to and understanding of our core business, strategies for impact, and our biggest, boldest ideas for the future. This transition has also allowed us to take a leap forward in our efforts to continue to build a sustainable organization, one that can attract and retain
SHEEREN BELLINGHAUSEN Senior Associate, Development
TED MATWIJEC Senior Associate, Development Strategy
the resources it needs to pursue our mission. In 2014, we raised $21M with an average gift size of $523,000. Select highlights from this year and last include a new partnership with the LEGO Foundation to support New Profitâ&#x20AC;&#x2122;s Early Learning Fund, $3M raised to support the Pathways Fund, securing lead gifts from two families to launch our Reimagine School Systems Fund, and a new investment from the Bill & Melinda Gates Foundation (see page 15 for more detail). We also welcomed several new families to our donor community
SAMANTHA WAITE Senior Associate, Development
and continued deepening our relationships with our long-time supporters. We invite you to review the following list of our philanthropic partners, as well as our milestones and highlights on page 13, and consider joining our community. Together, we can break down barriers to opportunity and accelerate the pace of social change in our country. Kind regards, THE NEW PROFIT DEVELOPMENT TEAM
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Investors
Anonymous (4)
Lance Fors
Geoffrey and Laura Rehnert
social venture partners international
audax group
Bill & Melinda Gates Foundation
Elizabeth G. Riley and Daniel E. Smith
bain capital
Josh and Sarah Greenhill
Robin Hood Foundation
Thomas C. Barry
Alan Hassenfeld
Salesforce.org
Bank of America Charitable Foundation Deb and Steve Barnes
the hassenfeld foundation
Josh and Anita Bekenstein bain bapital
M. Roch Hillenbrand the hillenbrand family foundation
Maurice and Luly Samuels
John S. and James L. Knight Foundation
Ronald Schrager and Wendy Hart
Florence Koplow
Jeffrey Shames
Jonathan and Jeannie Lavine
Edward and Barbara Shapiro
Bezos Family Foundation Bloomberg Philanthropies Blue Ridge Foundation New York Bromley Charitable Trust
Samberg Family Foundation
bain capital/sankaty advisors
Alan and Susan Solomont
Michael and Lisa Bronner
Charles and Rebecca Ledley
Rick and Nonnie Burnes
LEGO Foundation
Kevin and Julie Callaghan
Matt and RenĂŠe Levin
berkshire partners
bain capital
State Street Foundation
Carnegie Corporation of New York
Lindmor Foundation, Inc.
The Grossman Family Foundation
Randi and Larry Cohen Family Foundation
Lumina Foundation
The Joyce Foundation
Howard P. Colhoun Family Foundation
Tobey Maguire Innovation Fund
The Kresge Foundation
Estate of Kathryn W. Davis
Mannion Family Foundation
The David & Lucile Packard Foundation
Doran Family Charitable Trust
Henry and Allison McCance
The Reeder Foundation
Nancy C. and Dale Dougherty Foundation
Douglas and Audrey Miller
The Show Me Campaign
Brian and Stephanie Spector Spencer Foundation
international private equity limited
Kate and Bill Duhamel eBay Foundation Paul and Sandy Edgerley
Kristin and Stephen Mugford Oak Foundation
bain capital
James and Kim Pallotta
Michael and Barbara Eisenson
Saul Pannell and Sally Currier
charlesbank capital partners
Marjorie M. Findlay and Geoffrey T. Freeman Fisher-Cummings Family Fund
Peery Foundation Sarah Peter Poses Family Foundation
The Peter and Elizabeth C. Tower Foundation Lizzie and Jonathan M. Tisch Tower Family Fund Jeffrey C. and Suzanne C. Walker Walmart Foundation Wasserman Foundation William Morris Endeavor
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Supporters
Partners
Mark and Carolyn Ain Max Ash Ned and Jill Bicks Ben Borchard bottomline technologies
Pamela Cantor, M.D.
Initial year of support: 1999
Monitor’s initial year of support: 1999 Deloitte Consulting’s initial year of support: 2013
Initial year of support: 2013
Initial year of support: 2010
Dan and Robin Catlin William Eggers Stephen M. Jennings and Monica O’Neil Max Nibert Gregg Petersmeyer Carolyn Volpe Cunningham
“My partnership with New Profit allows me to leverage my
“I need someone to figure out who are the right
giving for broader and deeper impact. I trust New Profit’s
entrepreneurs and what are the right ideas to invest in.
leadership and expertise to select and scale great
New Profit does an excellent job of that. I’ve witnessed
organizations that open new opportunities for
the return on my investment through measurable
American communities.”
outcomes.”
- DUNCAN M. McFARLAND
- JOSH BEKENSTEIN
THE BROMLEY CHARITABLE TRUST
and Board Member, NEW PROFIT
Managing Director, BAIN CAPITAL and Board Chair, NEW PROFIT
“New Profit has introduced me to new and really
“The return on investment from my contributions to
innovative organizations, and given me a way to help
New Profit are very, very high... New Profit has got some of
support a wide variety of organizations that I’d
the smartest thinkers that I’ve met on the problems and issues
otherwise never have the opportunity
of how we reform our education system, and how we make
to discover or vet.”
it a more level playing field in this country. ”
- JONATHAN LAVINE
- HENRY McCANCE
Managing Partner, Managing Director, Chief Investment Officer, SANKATY ADVISORS
Chairman Emeritus, GREYLOCK PARTNERS and Board Member, NEW PROFIT
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Partner in Focus: Deloitte Groundbreaking collaboration on portfolio support and aligned action During 2015 Pro Bono Week, Deloitte announced the renewal and expansion of its multi-million dollar collaboration with New Profit. The expanded collaboration has two key elements: 1) Over the next three years, Deloitte will provide an additional $6.6 million in pro bono services to New Profit and its portfolio organizations, as well as new initiatives outside of pro bono that engage the broader Deloitte population; 2) Deloitte and New Profit will collaborate to refine and advance New Profit’s ambitious new “Focus Fund” approach to creating social innovation ecosystems and driving impact. Deloitte’s pro bono support for New Profit and its grantees began over 15 years ago with the Monitor Group. When Deloitte acquired the Monitor Group in 2013, the relationship expanded to include a broad range of strategic support, including growth strategy, impact modeling, and financial sustainability. To date, Deloitte and New Profit’s investments have helped propel organizations like KIPP, The Mission Continues, Year Up, Health Leads, and others towards national scale and greater results.
Case Study: College Possible
Case Study: New Leaders
Deloitte Consulting and New Profit recently helped College
Deloitte and New Profit worked with New Leaders, which
Possible, an organization which focuses on narrowing the
develops transformational school leaders, to develop a plan
national college degree divide, develop a transformational
to reach an ambitious goal of preparing one million children
growth strategy that would enable it to reach dramatically
for success in college, careers, and citizenship. Combining
more students across the country. The three-month
data analytics with powerful visualization tools, the team
engagement brought together the College Possible
cross-pollinated publicly available school district data with
leadership team to work through three phases:
New Leaders’ growth criteria (e.g. district size, demographics)
•
Aligning its vision and theory of change
•
Designing a scalable programmatic model for college completion
•
to define a target growth market and test expansion scenarios. The insight generated is allowing New Leaders to make more informed decisions as they execute their strategy.
Understanding the resulting organizational and financial implications
“Our New Profit and Deloitte partners have helped us chart a clear, ambitious path to growth that will transform our organization, the national conversation on the degree divide and— most importantly—the futures of promising low-income students across the country. We could never have achieved this level of clarity and focus without their generous help.” - JIM McCORKELL
Chief Executive Officer, COLLEGE POSSIBLE
DANA O’DONOVAN, a Director with Deloitte Consulting LLP and COO of Monitor Institute, and ANNA MUOIO, Specialist Leader at Monitor Institute, with MARC BRACKETT, Director of the Yale Center for Emotional Intelligence, at the Reimagine Learning launch event in NYC on February 17, 2015. (Photo Credit: Cindy Ord / Getty Images)
To learn more about our collaboration with Deloitte, please visit www.newprofit.org/our-impact/impact-stories/deloitte/
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Financials
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Financials
Overview New Profit is in the midst of an exciting evolution of its business model as it moves into a structure with multiple Focus Funds. Beginning in 2014 and continuing into 2015, New Profit initiated or expanded three new Focus Funds. The onset GAIL FRANCK
of this shift is reflected in the financial information
Chief Financial Officer
for 2014. For the year ended December 31, 2014, New Profit had total Net Assets of $35.3 million,
GAIL FRANCK, who has wide ranging
executive experience in the nonprofit and corporate sectors, joined New Profit’s staff as Chief Financial Officer in March 2015. As New Profit’s CFO, Gail Franck is responsible for all of the organization’s finance, accounting, and compliance activities.
a decrease of $5.8 million from the prior year. Administrative expenses were 14% of total expenses (excluding donated services). New Profit’s audited financial statements and annual tax returns are available on request.
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NEW PROFIT
New Profit, Inc. 2014 Financial Summary REVENUE BREAKDOWN
Individuals and Family Foundations
11,213,578
Federal Government - Social Innovation Fund
4,999,851
Corporations and Foundations
8,144,000
Other Deloitte In-Kind Services Other In-Kind Services Total Revenue:
1% Other In-Kind Services
Deloitte In-Kind Services
7%
31%
55,870
2014 REVENUE
Individuals and Family Foundations
42%
1,820,000 299,925
26,533,224
19%
Corporations and Foundations
Federal Government Social Innovation Fund
EXPENSE BREAKDOWN
Grantmaking
16,121,975
Innovation Fund
2,789,093
Focus Funds
4,361,094
Field Leadership
2,354,149
Administration, Communications, and Fundraising
4,218,134
Deloitte In-Kind Services
1,820,000
Deloitte In-Kind Services Administration, Communications, and Fundraising
Grantmaking
13% Field Leadership
7%
2014 EXPENSES
14% Focus Funds
Total Expenses:
6%
9%
31,664,445 Innovation Fund
CHANGES IN NET ASSETS (5,804,958) ADMINISTRATIVE EXPENSES AS A PERCENTAGE OF TOTAL EXPENSES (excluding donated services) 14%
51%
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Portfolio Directory
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Portfolio Directory NEW PROFIT INNOVATION FUND
College Possible SOCIAL ENTREPRENEUR: JIM MCCORKELL
College Possible makes college admission and success possible for low-income students through an intensive curriculum of coaching and support.
Educators 4 Excellence SOCIAL ENTREPRENEURS: EVAN STONE, SYDNEY MORRIS
Educators 4 Excellence works to ensure that the voices of classroom teachers are included in the decisions that affect our profession and our students.
Family Independence Initiative SOCIAL ENTREPRENEUR: MAURICIO LIM MILLER
The Family Independence Initiative is in the information business. They enable America to see the power and potential of low-income families, and enable families to come together, and access the resources they want to thrive.
First Place for Youth SOCIAL ENTREPRENEUR: SAM COBBS
First Place helps foster youth build the skills they need to make a successful transition to self-sufficiency and responsible adulthood.
FoodCorps SOCIAL ENTREPRENEUR: CURT ELLIS
Together with communities, FoodCorps serves to connect kids to healthy food in school.
Health Leads SOCIAL ENTREPRENEUR: REBECCA ONIE
Health Leads envisions a healthcare system that addresses all patients’ basic resource needs as a standard part of quality care.
KIPP SOCIAL ENTREPRENEUR: RICHARD BARTH
KIPP’s mission is to create a respected, influential, and national network of public schools that are successful in helping students from educationally underserved communities develop the knowledge, skills, character and habits needed to succeed in college and the competitive world beyond.
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Portfolio Directory LIFT SOCIAL ENTREPRENEUR: KIRSTEN LODAL
LIFT’s mission is to help families achieve economic stability and well-being. LIFT is working to establish a new standard for holistic and enduring solutions in our country’s fight against poverty.
MLT SOCIAL ENTREPRENEUR: JOHN RICE
MLT equips high potential minorities with the winning playbook and personalized coaching that allows them to reach their full leadership potential and maximize their community impact. MLT works with over 500 new individuals per year through its core programs and provides career-long support for its community of over 4,000 Rising Leaders.
New Leaders SOCIAL ENTREPRENEUR: JEAN DESRAVINES
New Leaders’ mission is to ensure high academic achievement for all children, especially students in poverty and students of color, by developing transformational school leaders and advancing the policies and practices that allow great leaders to succeed.
Peer Health Exchange SOCIAL ENTREPRENEUR: LOUISE DAVIS LANGHEIER
Peer Health Exchange’s mission is to give teenagers the knowledge and skills they need to make healthy decisions. Peer Health Exchange does this by training college students to teach a comprehensive health curriculum in public high schools that lack health education.
Roca, Inc. SOCIAL ENTREPRENEUR: MOLLY BALDWIN
Roca’s mission is to disrupt the cycle of incarceration and poverty by helping young people transform their lives.
The Mission Continues SOCIAL ENTREPRENEURS: ERIC GREITENS, SPENCER KYMPTON
The Mission Continues empowers veterans facing the challenge of adjusting to life at home to find new missions. The Mission Continues redeploys veterans in their communities, so that their shared legacy will be one of action and service.
Third Sector Capital Partners SOCIAL ENTREPRENEUR: GEORGE OVERHOLSER
Third Sector’s mission is to accelerate America’s transition to a performance-driven social sector by making Pay for Success a reality in the United States.
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Portfolio Directory THE ACCELERATOR FUND
All Our Kin SOCIAL ENTREPRENEUR: JESSICA SAGER
All Our Kin trains, supports, and sustains community child care providers to ensure that children and families have the foundation they need to succeed in school and in life.
Beyond 12 SOCIAL ENTREPRENEUR: ALEXANDRA BERNADOTTE
Beyond 12’s mission is to dramatically increase the number of low-income, first-generation, and historically under-represented students who graduate from college.
GirlTrek SOCIAL ENTREPRENEURS: T. MORGAN DIXON, VANESSA GARRISON
GirlTrek inspires and supports African American women and girls to live their healthiest, most fulfilled lives – simply by walking. Through grassroots organizing and social media campaigns, GirlTrek supports over 20,000 walkers, and inspires an ever-growing network of 175,000 supporters.
Green City Force SOCIAL ENTREPRENEUR: LISBETH SHEPHERD
Green City Force’s (GCF) mission is to break the cycle of poverty, preparing urban young adults to succeed in their chosen careers by engaging them in service, training and work experiences related to the clean energy economy. In doing so, GCF encourages them to lead socially and environmentally responsible lives.
Sama Group SOCIAL ENTREPRENEUR: LEILA JANAH
Sama Group delivers enterprise digital services through a unique MIcrowork model that harnesses the untapped potential of the world’s poor. “Sama” means equal. Sama Group connects poor women and youth to training and employment in the digital economy.
The Young People’s Project SOCIAL ENTREPRENEUR: MAISHA MOSES
The Young People’s Project uses math literacy work to develop the abilities of elementary through high school students to succeed in school and in life, and in doing so involves them in efforts to eliminate institutional obstacles to their success.
EARLY LEARNING FUND
Acelero Learning SOCIAL ENTREPRENEURS: AARON LIEBERMAN, HENRY WILDE
Acelero Learning seeks to bring a relentless focus on positive child and family outcomes to close the achievement gap and build a better future for children, families, and communities served by the Head Startprogram.
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Portfolio Directory AVANCE SOCIAL ENTREPRENEUR: RICHARD NORIEGA
AVANCE is unlocking America’s potential by strengthening families in at-risk communities through effective parent education and support programs.
PATHWAYS FUND
College Advising Corps SOCIAL ENTREPRENEUR: NICOLE HURD
College Advising Corps works to increase the number of first-generation college going, low income, and/or underrepresented students who apply, enter, and complete college.
College Summit SOCIAL ENTREPRENEUR: JO SMITH
College Summit transforms the lives of low-income youth by connecting them to college and career.
iMentor SOCIAL ENTREPRENEUR: MIKE O’BRIEN
iMentor builds mentoring relationships that empower students from low-income communities to graduate high school, succeed in college, and achieve their ambitions.
Single Stop SOCIAL ENTREPRENEUR: ELISABETH MASON
Single Stop harnesses America’s most effective anti-poverty tools to create economic mobility for low-income families and individuals.
Year Up SOCIAL ENTREPRENEUR: GERALD CHERTAVIAN
Year Up works to close the Opportunity Divide by providing urban young adults with the skills, experience, and support that will empower them to reach their potential through professional careers and higher education.
YouthBuildUSA SOCIAL ENTREPRENEUR: DOROTHY STONEMAN
YouthBuild’s mission is to unleash the intelligence and positive energy of low-income youth to rebuild their communities and their lives, breaking the cycle of poverty with a commitment to work, education, community, and family.
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Portfolio Directory REIMAGINE LEARNING FUND
ANet SOCIAL ENTREPRENEUR: MORA SEGAL
ANet works alongside school leadership teams to strengthen their school-wide practice and culture of using learning standards and achievement data to get breakthrough results for students in underserved communities.
Eye to Eye SOCIAL ENTREPRENEUR: DAVID FLINK
Eye to Eye is building a youth-powered movement designed to combat the prevailing stigmas attached to learning differences, and to equip students with the tools and sense of personal efficacy they need to self-advocate.
New Classrooms Innovation Partners SOCIAL ENTREPRENEUR: JOEL ROSE
New Classrooms believes that every learner is unique and deserves an education designed to meet their needs and abilities. Their mission is to enable personalized learning for every student every day.
New Teacher Center SOCIAL ENTREPRENEUR: ELLEN MOIR
New Teacher Center is a national nonprofit dedicated to improving student learning by accelerating the effectiveness of new teachers and school leaders.
Peace First SOCIAL ENTREPRENEUR: ERIC DAWSON
Peace First is a national nonprofit organization that exists to create the next generation of peacemakers. Peace First views children as natural problem solvers and creative thinkers, and invest in their ability to see themselves as leaders.
Turnaround for Children SOCIAL ENTREPRENEUR: DR. PAMELA CANTOR
Turnaround for Children strives to transform public education so that high-poverty schools across America are designed to confront the predictable and recurring challenges of poverty as they manifest inside schools.
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Portfolio Directory REIMAGINE SCHOOL SYSTEMS FUND
m EDUCATION
Match Education SOCIAL ENTREPRENEUR: STIG LESCHLY
Match Education envisions creating a transformed system of Pre-K through career education in America by being an “engine of discovery and applied innovation” that shocks the status quo by providing the evidence and roadmap for change.
Innovate Public Schools SOCIAL ENTREPRENEUR: MATT HAMMER
Innovate Public Schools’ mission is to build the parent and community demand for world-class public schools, and to accelerate the growth of these schools, particularly for low-income students and students of color.
LEARN TO EARN FUND AND CRIMINAL JUSTICE SYSTEM REFORM FUND
Stay tuned for more information in 2016.
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200 Clarendon Street Boston, MA 02116 info@newprofit.org www.newprofit.org ANNUAL REPORT 2014 - 2015
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