__MAIN_TEXT__

Page 1

Building Capacity for the Future ANNUAL REPORT 2017


NEW PROFIT

I

ANNUAL REPORT 2017

CONTENTS

.

KRIS GRAVES PHOTOGRAPHY

02

OUR PURPOSE

04

FROM OUR LEADERS

06

CEO MESSAGE

10

BOARD CHAIR MESSAGE

12

2017 HIGHLIGHTS

16

IMPACT UPDATES

20

SPOTLIGHT: REIMAGINE LEARNING FUND

26

NEW PROFIT ACCELERATOR PROGRAM

28

NEW PROFIT INNOVATION FUND

30

LEARN TO EARN FUND

32

REIMAGINE SCHOOL SYSTEMS FUND

34

EARLY LEARNING FUND

36

PERSONALIZED LEARNING INITIATIVE

38

AMERICA FORWARD

40

FIELD LEADERSHIP

42

PARTNERS

46

BOARD OF DIRECTORS

48

DONOR ROLL

50

FINANCIALS

54

PORTFOLIO DIRECTORY

60

IN MEMORIAM


ANNUAL REPORT 2017

I

NEW PROFIT

KRIS GRAVES PHOTOGRAPHY

This year’s annual report features photographs by Kris Graves, a photographer and publisher based in New York and London. New Profit asked Graves in 2017 to create a series of images around the theme of proximity, some of which are featured here along with images from other projects as well. Graves’ recent work includes creating portraits for Lynching in America (2017)—a multi-channel collaboration with Google and the Equal Justice Initiative that confronts the ongoing injustices stemming from slavery in the United States—and A Bleak Reality (2016), a series that documents eight sites of the murder of unarmed black men at the hands of police.

Graves’ work explores issues around representation of race and place and the passage of time in both the natural and built world. His use of lighting, his subjects, and his complex visual frames suggest a volatility beneath the familiar everyday and his images have a way of holding in the mind long after seeing them. Graves was shortlisted for the Aperture Portfolio Prize in 2017 and his work is included in the permanent collections of the Brooklyn Museum in New York and the MFA in Houston, among others. We are thrilled to share his work as part of this report. Learn more about Kris Graves at krisgraves.com.


4

NEW PROFIT

I

ANNUAL REPORT 2017

Our Purpose

To support entrepreneurial leaders in advancing solutions that change systems and create equity of opportunity.

What We Do SELECT AND FUND

ADVISE AND SCALE

CONNECT AND CATALYZE

We select social entrepreneurs and

We become partners and advisors,

We connect social entrepreneurs and

initiatives that have game-changing

working with leaders to build capacity and

philanthropists to leaders from other

potential and provide them with

scale their impact in a sustainable way.

sectors to catalyze progress towards

unrestricted, multi-year funding.

systemic change, which no single person, organization, or sector can achieve alone.


ANNUAL REPORT 2017

I

NEW PROFIT

Where We Are Going To transform our collective ability to solve social problems, we need to build a dynamic, efficient market for social impact. This means we need to: INFUSE MORE BUILD, LESS BUY CAPITAL

COMPETE BASED ON OUTCOMES

ADVANCE SYSTEMS ENTREPRENEURS

CAPITALIZE DIVERSE LEADERS & ORGANIZATIONS

Organizations seeking to

Organizations should be able

System entrepreneurs

The social sector—including

scale their impact—whether

to access resources based on

re-arrange how a system

funders—needs to invest all

through direct growth or

demonstrated, research-based

operates by catalyzing and

forms of capital (financial,

systems-change levers—need

effectiveness and efficiency

sustaining collaborations across

intellectual, social, political) in,

appropriately staged growth,

of their programs—their

stakeholder groups to get

and support the development

or “build” capital to establish

outcomes—rather than their

results; they need advances in

of, diverse leaders and their

and grow their capabilities, not

inputs and outputs.

awareness, tools, approaches,

organizations.

just revenue to deliver their

and aligned funding to support

programs year-in, year-out.

those efforts.

5


6

NEW PROFIT

I

ANNUAL REPORT 2017

From Our Leaders


ANNUAL REPORT 2017

I

NEW PROFIT

7


8

NEW PROFIT

I

ANNUAL REPORT 2017

CEO Message

A traditional “Message from the CEO” could not fully convey this moment of reflection, transformation, and tremendous opportunity for the New Profit community.

Our 20th anniversary year is fast approaching in 2018. As we look to our next 20 years, we have a chance to dream big about the future with some of the most powerful and influential problem-solvers on earth, as you’ll see in this report. Our portfolio of grantee-partners is in the midst of unprecedented transition, with a new generation of entrepreneurial leaders from diverse backgrounds driving change across the country in their communities and stepping up to lead the way forward. I asked social entrepreneurs and other leaders from the different eras of New Profit’s evolution to send us some thoughts about this community’s unique value and critical role in shaping the future. VANESSA KIRSCH Founder and CEO NEW PROFIT


ANNUAL REPORT 2017

I

NEW PROFIT

Members of the “Idea Team” that Helped Create New Profit in 1998

AARON LIEBERMAN

TULAINE MONTGOMERY

KIM SYMAN

Co-Lead

Managing Partner and Executive Team Member

Managing Partner

NEW PROFIT’S EARLY LEARNING FUND;

Founder and Former CEO

NEW PROFIT

NEW PROFIT

JUMPSTART & ACELERO LEARNING

“We had all been hearing about venture capital

“We were all inspired by one another’s work

“What was defining for me was this idea that it’s a

in the late 1990s, and the idea of doing

and driven by pioneering energy and

social justice imperative to use

something like it in philanthropy was

a belief that it was time for some

resources more effectively to get the

exciting. It felt radical to even consider

changes in traditional philanthropy.

greatest impact possible for people who

giving out million dollar, unrestricted

I was working in an organization

are trying to solve social problems. We

gifts and strategic support to nonprof-

(Citizens Schools) at the time that

were committed to trying

its, but the incredible group of people

became the recipient of one of those

to create a dynamic market in

Vanessa brought together was fearless

early $1 million unrestricted gifts.

philanthropy that tied resources

about pushing the boundaries.”

That infusion of flexible capital,

directly to value in changing lives.”

combined with world-class strategic support, made our audacious goals of expanding our organization and reaching more students feel more attainable.”

9


10

NEW PROFIT

I

ANNUAL REPORT 2017

Social Entrepreneurs Who Have Joined the New Profit Team

WENDY KOPP

JOHN RICE

J.B. SCHRAMM

New Profit Board Member; CEO and Co-Founder

New Profit Board Member; Founder and CEO

New Profit Managing Partner

TEACH FOR ALL;

MLT

Founder and former CEO

Founder and former CEO

LEARN TO EARN FUND; COLLEGE SUMMIT

TEACH FOR AMERICA

“One of the hallmarks of my time in the New Profit

“New Profit has always been a partner that I felt was more

“New Profit seeks to break through big, seemingly immovable

portfolio was the degree to which

willing than most to buck convention,

barriers. Our work over 20 years in

the New Profit team and community

which is so important because the

education and workforce development

challenged me to always think bigger

pull of philanthropy is almost always

has led us to a point where we can see

and more strategically. While the role

towards the conventional. Without

the path to a future of opportunity for

I’m playing now in supporting New

our community, who will be there to

people struggling to build sustainable

Profit’s leadership team and new social

change the game in terms of advancing

livelihoods. Having the opportunity

entrepreneurs is different, it feels like

diverse leaders and building capacity

to work alongside great social

the formula is similar. We must think

for innovation and systemic impact?

entrepreneurs, America's biggest

bigger and more strategically than ever

That’s a question we should consistent-

employers, and our whole community

because we have more strength, more

ly ask ourselves as we move forward

to pave that path is incredibly exciting.”

learning, more resources, and face

together.”

more staggering challenges than ever. Boldness is always at the root of big change.”


ANNUAL REPORT 2017

I

NEW PROFIT

New Leaders in Our Portfolio and Community

LAURA WEIDMAN POWERS

ZORAN POPOVIC

PHYLLIS LOCKETT

Co-Founder and CEO

Chief Scientist and Founder

CEO

CODE2040

ENLEARN

LEAP INNOVATIONS

“There are a small handful of foundations

“Being part of the New Profit community has been

"Having access to New Profit’s leadership and being embraced by

and investors that I have worked with

a catalytic experience for Enlearn.

their community of change agents

that really see their role holistically as an

We are a young organization and the

has been critical as we take LEAP

investment in our success, rather than

advisory support we received from

Innovations to the next level. We have

just writing a check. New Profit’s menu

New Profit and Deloitte on our growth

a big vision – to completely transform

of support is comprehensive and it really

strategy helped sharpen our focus and

education and provide each student

helps to have both a place to go where

change our direction. Now, New Profit

with a personalized learning experience

people are so willing to engage on a

is offering valuable support for our exe-

that transcends the classroom. By

wide range of leadership issues, as well

cution of the strategy by connecting us

asking the hard questions and providing

as a cohort of other entrepreneurs who

with peer-to-peer and partner support

invaluable strategic insights, New Profit

are facing the same challenges.”

across their amazing network.”

is helping us see how to build our organization into one that will change the world."

11


12

NEW PROFIT

I

ANNUAL REPORT 2017

Board Chair Message

Buddhist philosopher Matthieu Ricard once said, “we are the fruits of our past and we are the architects of our future.”

to scale impact, has given us valuable knowledge about the intersection of direct impact and systems change. And the simple act of creating space for community building among social entrepreneurs at New Profit’s annual Gathering of Leaders has been catalytic, leading to new ideas, new philanthropic partnerships, and new partnerships. New Profit continues to be a vibrant hub of collaboration for social innovation. As we architect the future, we must contemplate a hard

Ricard’s words have special, inspirational meaning for New Profit right now. With our 20th Anniversary approaching in 2018, we owe ourselves a moment to reflect on the fruits of our long-term work together: from being early backers of breakthrough social entrepreneurs and organizations like Teach For America, KIPP, First Place for Youth, and Health Leads, to evolving as a systems change organization as we created and drove innovative, cross-sector initiatives like America Forward in policy advocacy and the Pathways

truth: the real momentum we’ve been a key part of creating is not yet self-sustaining, particularly in the challenging political and policy environment. As individuals, and as a community, we have to ask ourselves, “What more can we do?” One framework for answering that question is systems entrepreneurship, which I have written about often over the last two years. The term refers to a way of thinking and

Fund in the college access field.

acting that invites all people involved in social impact

Our commitment to providing capacity building grants to

professionals, to consider how they can come together more

organizations, while also working hand in hand with leaders

work, from donors to social entrepreneurs and nonprofit effectively to drive impact. As New Profit’s Founder and CEO


ANNUAL REPORT 2017

I

NEW PROFIT

Vanessa Kirsch said in an article I published in the Chronicle

founded College Summit and is leading our Learn to Earn

of Philanthropy, systems entrepreneurship is about going

Fund, which is working with social sector organizations and

beyond “single-point solutions” and pulling other levers,

America’s largest employers to connect millions of young

including policy, communications, and partnerships

people to skills and career opportunities. And we have new

simultaneously to change “the whole system.”

institutional collaborations focused on systems change with the Bill & Melinda Gates Foundation, the Chan Zuckerberg

We have many examples at New Profit of this type of

Initiative, the Lumina Foundation, the George Lucas Family

leadership. Two visionary social entrepreneurs on our board,

Foundation, Walmart Foundation, the Peter and Elizabeth C.

Wendy Kopp of Teach For All and John Rice of MLT, are

Tower Foundation, and others.

helping shape our long-term vision and our work on diversity, equity, and inclusion (while still running

Perhaps most importantly, we have a new wave of diverse,

transformative organizations). Our board colleagues Steve

dynamic social entrepreneurs and other leaders joining our

Jennings and Mike Canning, both senior leaders at Deloitte,

community as a next generation of path-breakers, much like

are helping us think bigger about how our collaboration with

Wendy and John were earlier in New Profit’s evolution (and

one of the world’s leading companies could drive systemic

still are today).

impact. I’m continually amazed by how these leaders intuitively We also have generous donor-partners including Roch

move as systems entrepreneurs and I’m incredibly optimistic

Hillenbrand and Art Reimers who, after successful careers

about our future as a community, and a country, as a result.

at Goldman Sachs, are now deeply engaged in New Profit’s work as advisors to our leadership team, our portfolio

Without the backing of our network of visionary donors and

organizations, and our focus funds. Among staff, we

partners, none of this progress would have been possible.

have former social entrepreneurs like J.B. Schramm, who

I look forward to deepening our partnership with you.

Thank you.

Jeff Walker, Board Chair

13


14

NEW PROFIT

I

ANNUAL REPORT 2017

2017 Highlights


ANNUAL REPORT 2017

I

NEW PROFIT

15


16

NEW PROFIT

I

ANNUAL REPORT 2017

2017 Highlights

24

Catalyzing the Nascent Personalized Learning Field

NEW SOCIAL ENTREPRENEURS AND ORGANIZATIONS

New Profit launched a new Personalized Learning Initiative

joined our grantee portfolio

with a first-time collaborative grant from the Bill & Melinda Gates Foundation and the Chan Zuckerberg Initiative. The initiative is supporting seven emerging organizations

20 INTIMATE CONVENINGS HELD TO BRING TOGETHER

our community of social entrepreneurs, philanthropists, policy-influencers, and other changemakers

284 LEADERS FROM ACROSS SECTORS ATTENDED

the 2017 Gathering of Leaders (112 were first-time participants)

that have created promising new approaches to giving students more agency in their own learning journey and teachers more tools to tailor classroom instruction to the unique needs of each student.

Advancing and Capitalizing Diverse Leaders New Profit launched two new programs - the Proximity Accelerator and Unlocked Futures - to support visionary social entrepreneurs and other leaders from underrepresented communities. The Proximity Accelerator will help to advance the work of eight social entrepreneurs of color working to transform education. Unlocked Futures, which we launched in collaboration with John Legend’s FREEAMERICA and Bank of America, will provide capacity building support and funding

4 STARS AWARDED

to us by Charity Navigator

to formerly incarcerated individuals operating mission-driven organizations.

Deepening Our Own Leadership Bench Tulaine Montgomery, a longtime member of the New Profit community who previously lead the Pathways Fund

4.4 MILLION LIVES TOUCHED

by organizations in our portfolio (2016)

(2011-2016), joined our Executive Team. Marco Davis, the former Deputy Director of the White House Initiative on Educational Excellence for Hispanics who joined New Profit in 2016, took on an expanded role coordinating the organization’s efforts to advance diversity, equity, and inclusion internally and externally in our community.

Read on to see more 2017 highlights and impact updates from across New Profit.


ANNUAL REPORT 2017

I

NEW PROFIT

17


18

NEW PROFIT

I

ANNUAL REPORT 2017

Impact Updates


ANNUAL REPORT 2017

I

NEW PROFIT

19


20

NEW PROFIT

I

ANNUAL REPORT 2017

Impact Updates

New Profit’s Focus Funds, Accelerators, and initiatives are vehicles for ambitious experimentation and risktaking with emerging organizations and collaboratives.

• Spotlight: Reimagine Learning Fund Creating learning environments that support the diverse needs of all learners (See page 20 for more information)

• Accelerators Supporting problem-solvers from underrepresented communities (See page 26 for more information)

• New Profit Innovation Fund A learning lab for identifying and catalyzing social impact organizations in America (See page 28 for more information)

We bring together a diverse set of social entrepreneurs, philanthropists and institutional donors, researchers, policy experts, and other cross-sector partners for intensive collaboration aimed at catalyzing new approaches and nascent fields.

• Learn to Earn Fund Supporting the development of 10 million more career-ready Americans by 2025 (See page 30 for more information)

• Reimagine School Systems Fund Increasing the number of high-quality schools serving low-income students (See page 32 for more information)

• Early Learning Fund Increasing the number of children entering kindergarten ready to learn (See page 34 for more information)

• Personalized Learning Initiative Supporting new and emerging models in the personalized learning field (See page 36 for more information)

• America Forward Uniting social entrepreneurs with policymakers to advance public policy solutions (See page 38 for more information)

• Field Leadership Finding innovative approaches to power up the social sector (See page 40 for more information)


ANNUAL REPORT 2017

I

NEW PROFIT

“It’s increasingly clear that the large, complex problems of the 21st century demand systemic, collaborative approaches.” - JEFF WALKER

New Profit Board Chair

21


22

NEW PROFIT

I

ANNUAL REPORT 2017

Spotlight: Reimagine Learning Fund

Reimagine Learning emerged from the realization by New Profit’s CEO, Vanessa Kirsch, that her daughter, Mirabelle—like herself, dyslexic—was having the same challenges in school that Vanessa had experienced decades prior.

dedicated to evolving school systems to support the success of students with learning differences and those groups of students who have been systematically underserved by schools to date. Across the nation, there is a rising tide of momentum to reimagine how we approach teaching and learning inside and outside of the classroom. New Profit’s Reimagine Learning Fund has been at the center of this movement to ensure that this wave of education reform supports the success of students who have been most underserved by our current education system because of how they learn, their socio-economic status, their English language skills,

Despite significant strides in education reform, students with

and more.

learning differences (LD) continued to be marginalized in the reform discussions and their experience of school had largely

Reimagine Learning represents a robust manifestation of

not improved.

New Profit’s strategy to build on our traditional model of investing in great social entrepreneurs by creating powerful,

In Fall 2012, Reimagine Learning was launched as a five-year

cross-sector change networks that, together, drive toward

initiative, fueled by a collaborative comprised of funders

systems change.

SHARED VISION FOR TRANSFORMING LEARNING

Reimagine Learning’s work is oriented around a high-level vision and three core beliefs that were defined by our community of funders and practitioners as essential elements of a system that is fundamentally redesigned to support the diverse needs of all learners:

One day, all students - including those with more complex needs and challenges who lack the family resources and extra supports to address them - will be in learning environments with the capacity to adapt to meet their diverse needs and capitalize on their diverse strengths. •

LEARNER DIVERSITY

Learning environments should be personalized to meet the different talents and needs of every learner. •

HOLISTIC DEVELOPMENT

Teaching and learning environments should equally support the development of cognitive, social, and emotional skills. •

STUDENT AGENCY & VOICE

Students should be engaged with and in control of their own learning, harnessing and strengthening their own voice.


ANNUAL REPORT 2017

I

NEW PROFIT

Spotlight: Reimagine Learning Fund

The Reimagine Learning Network One of the core innovations of Reimagine Learning was building a cross-sector network that could bridge the divide between formerly siloed sectors of the education reform movement to ensure that the needs of the most vulnerable students are presented in practice and policy debates and that effective approaches to meeting the diverse needs of subgroups of students are scaled to benefit all students.

SOCIAL ENTREPRENEURS

We invested in 20 social entrepreneur-led organizations offering solutions with the potential to redesign school to meet the diverse needs of all learners.

23


24

NEW PROFIT

I

ANNUAL REPORT 2017

Spotlight: Reimagine Learning Fund

NEW PROFIT LEADERSHIP

JODY CORNISH Managing Partner

SHRUTI SEHRA Managing Partner

VISIONARY FUNDERS

Reimagine Learning brought together a set of committed funding partners who pooled their knowledge and aggregated $35M in capital to support the work of the fund. lead funder

key funders

VISIONARY PARTNERS

We have collaborated with a diverse set of organizations and advisors who have informed and supported our work.


ANNUAL REPORT 2017

I

NEW PROFIT

Spotlight: Reimagine Learning Fund

Our Work And Impact Over our first five years, Reimagine Learning focused our work in four core areas.

GRANTMAKING & CAPACITY BUILDING

We provided funding and capacity building support to high-potential nonprofits to enable them to better serve students with more complex needs and challenges, scale their innovations, and enhance organizational sustainability. KEY OUTCOMES:

• Invested $14.8M in nine portfolio grantee organizations and 11 incubation grantee organizations. • Leveraged $9M in pro bono support for grantee organizations from Deloitte and Vantage Partners, along with advisory support from more than 60 members of the Reimagine Learning network. • Our grantee organizations now serve more than four million students nationwide and all have made tangible programmatic changes to better meet the needs of diverse learners from low-income families.

POLICY ADVOCACY

Through New Profit’s nonpartisan policy arm, America Forward, we led federal and state policy advocacy initiatives focused on supporting the success of our target student population. KEY OUTCOMES:

• Engaged a 35-organization Reimagine Learning Policy Working Group and 50-organization Education Task Force to articulate a powerful K-12 education policy platform, which they leveraged to shape key language in the Every Student Succeeds Act (ESSA). • Partnered with the Council of Chief State School Officers’ Innovation Lab Network to launch a working group of seven state school officers focused on articulating what is needed to effectively implement personalized learning with equity in their states and to identify lessons for the field. • Brought together our grantee partners in Washington, D.C. for two days in September 2017 to build their policy advocacy skills and their capacity to engage in implementation of ESSA at the state and local level, to tell their impact stories to policy-making audiences, and to defend federal funding priorities relevant to Reimagine Learning’s policy platform.

“More now than ever I’m grateful to be part of a community working together to support children who will be inheriting our country and its future, in addition to helping them make sense of the world today. Reimagine Learning has pushed us all to ask ourselves if we’re doing enough to support ALL kids. With equity at the forefront of our minds, Reimagine Learning has been an ideal space to challenge our organizations to be leaders as we pave the way forward.” - ELLEN MOIR

Founder and Chief Executive Officer, NEW TEACHER CENTER

25


26

NEW PROFIT

I

ANNUAL REPORT 2017

Spotlight: Reimagine Learning Fund

NETWORK ENGAGEMENT

Reimagine Learning has grown from a founding group of 30 nonprofit leaders and education funders into a diverse, cross-sector network of more than 600 individuals representing over 150 organizations. KEY OUTCOMES:

• Gathered members of the network at 14 cross-sector convenings to build relationships and connections, share knowledge and best practices, and explore opportunities for collaboration. • Over 300 formal partnerships are underway between Reimagine Learning network organizations, with over 30% of member organizations surveyed having reported the emergence of powerful collaborations with other organizations in the network. • In February 2017, we launched a youth initiative—Awakening the Mind—that engaged 17 young people from YouthBuild USA’s Young Leaders Council who had sought alternative education pathways. We supported this group in a learning journey that empowered them to articulate a shared vision for a future of school that would meet their needs and aspirations. The group captured their vision in a video that has been shared to influence the national conversation about school reform and redesign.

REGIONAL INITIATIVES

Change ultimately must happen on the ground in the more than 14,000 school districts across the U.S., which is why Reimagine Learning set out to understand how to create the conditions for in-district leaders and multiple nonprofit innovators to support and accelerate school change efforts. We were privileged to have the opportunity to partner with the leadership of two school districts in Massachusetts to support their ambitious change agendas. KEY OUTCOMES:

• Salem Public Schools: In 2017, Reimagine Learning concluded a year-long planning process in partnership with Superintendent Margarita Ruiz to create a community developed and owned vision for the future of education in Salem, Massachusetts. The plan is oriented around the community’s vision and aspiration to make Salem a district that has the capacity to meet the diverse needs of all learners. The District Leadership Team identified six areas of focus and produced detailed plans of action that will be executed in the coming years to bring that vision to life. • Lawrence Public Schools: Reimagine Learning partnered with Lawrence Public Schools Superintendent Jeff Riley to codify the Acceleration Academies, a powerful learning intervention that has driven dramatic gains for students in the district. In 2017, we launched a multi-media website—The Golden Ticket—that shares the lessons learned from the Academies for policymakers, district and school leaders, and practitioners and seeks to support replication of this intervention.


ANNUAL REPORT 2017

I

NEW PROFIT

Spotlight: Reimagine Learning Fund

Looking Ahead to 2018 and Beyond In 2018, we will build on our momentum to transform learning to meet the needs of underserved students with a targeted set of initiatives specifically focused on innovations and entrepreneurs that support students with learning differences. With generous, ongoing support from the Peter and Elizabeth C. Tower Foundation, we will build on our work in Salem and Lawrence school districts to deepen our engagement in Essex County and will provide a set of targeted incubation grants and strategic supports to social innovators pushing the envelope to better support students with learning differences. In 2018 and beyond, New Profit will deepen our commitment to ensuring the education system has the capacity to meet the needs of all students, including the most vulnerable. Toward that end, we are in active dialogue with partners around a number of key areas of work, including: INVESTMENT IN BREAKTHROUGH INNOVATION COHORTS

Bring innovators together around key “problems of practice� (e.g., social and emotional learning, educator professional development, optimizing personalized learning) to create learning communities that will accelerate individual organization growth and build field-wide understanding of best practices. DRIVING A TARGETED SET OF WORK SPECIFICALLY FOCUSED ON STUDENTS WITH LEARNING DIFFERENCES

Going beyond the planned 2018 work, provide larger multi-year investments in organizations with practices proven to support the success of students with LD to help them scale and continue to support a cross-sector learning community specifically focused on transforming schools to support these students. INVESTING IN EDUCATORS AS SOCIAL INNOVATORS

Provide targeted change capital to district leaders and systems who have a powerful vision for evolving their districts and have the potential to be powerful change leaders shaping the national dialogue about the future of learning. SUPPORTING YOUTH LEADERSHIP AND MOBILIZATION

Invest in a set of powerful youth initiatives that support youth voice in the national dialogue about the future of learning, empower young people to design solutions that evolve schools in ways that will best meet their needs, and support young people to build skills as change leaders to drive improvement and change in their schools.

27


28

NEW PROFIT

I

ANNUAL REPORT 2017

New Profit Accelerator Program Supporting problem-solvers from underrepresented communities

Overview

LEADERSHIP

New Profit has been working with social entrepreneurs across multiple issue areas for two decades. Our experiences have taught us that we cannot achieve our mission without improving our ability to both recognize and leverage the expertise and assets of diverse leaders who reflect the full breadth of the American populace. New TULAINE MONTGOMERY

MARCO DAVIS

Managing Partner, Executive Team Member

Partner

Profit’s Accelerator Program was established to support problem-solvers from underrepresented communities and to identify and address the barriers entrepreneurs from diverse backgrounds face when building their solutions into sustainable institutions

GRANTEES

and networks. THE WOMEN’S ACCELERATOR For visionary female social entrepreneurs (2017 cohort below)

Participants in our three active accelerators receive

Braven

Neighborhood Trust Financial Partners

an unrestricted grant of $50,000, cohort-based

Code2040

SIRUM

learning sessions on topics such as leadership and

Found in Translation

The New American Leaders Project

organizational development, regular consultations

LaborX

The Workers Lab

with New Profit partners with expertise in nonprofit capacity building, and access to New Profit’s larger

THE PROXIMITY ACCELERATOR

learning community of social entrepreneurs and

For innovative social entrepreneurs of color (2017 cohort below)

other changemakers through events like Accelerator

Abriendo Puertas/Opening Doors Mothers for Justice and Equality

convenings and the Gathering of Leaders.

Camelback Ventures

RISE Colorado

FaithActs for Education

Surge Institute

GO Public Schools

The Black Teacher Collaborative

THE UNLOCKED FUTURES ACCELERATOR For social entrepreneurs who have been directly impacted by the

DONORS

criminal justice system. Clean Decisions

Mission: Launch, Inc.

Detroit Justice Center

Obodo

Flikshop

Prison Scholar Fund

The Ladies of Hope Ministries

Reentry Campus Program

(The LOHM)

Anonymous Bank of America Charitable Foundation Bill & Melinda Gates Foundation Chan Zuckerberg Initiative DAF, Silicon Valley Community Foundation George Lucas Family Foundation


ANNUAL REPORT 2017

2017 Highlights For the first time, we brought together the social entrepreneurs from the Women’s and Proximity Accelerators to build community at the 2017 Gathering of Leaders. Social entrepreneurs valued the opportunity to forge new relationships with peers, make promising connections with funders, and learn from and speak with thought leaders in the social sector. Earlier in 2017, we announced the Unlocked Futures Accelerator at the Town and Country Philanthropy Summit. Unlocked Futures represents a strategic partnership between New Profit, Bank of America, and FREEAMERICA, a multi-year culture campaign initiated by John Legend to change the national conversation about our country’s misguided policies and transform America’s criminal justice system.

2018 Priorities In 2018, we will select a new cohort of social entrepreneurs in each of the three accelerators, engaging a total of 24 exceptional leaders. We will continue to build community across the three initiatives, as well as engage in public outreach to raise awareness of the entrepreneurs and issues they are confronting.

I

NEW PROFIT

29


30

NEW PROFIT

I

ANNUAL REPORT 2017

New Profit Innovation Fund A learning lab for identifying and catalyzing social impact organizations in America

LEADERSHIP

Overview The New Profit Innovation Fund (NPIF) is our learning lab for identifying and catalyzing transformative social impact organizations in America. The longest running of our funds, NPIF provides growth capital and capacity building support to help social entrepreneurs scale the impact of their organizations in pursuit of systems change. NPIF also houses New Profit’s Portfolio Performance

KELLY CUTLER Partner GRANTEES Educators 4 Excellence Enlearn Family Independence Initiative First Place for Youth FoodCorps Health Leads Leading Educators LEAP Innovations Management Leadership for Tomorrow Roca Third Sector Capital Partners UnboundEd

DONORS Bill & Melinda Gates Foundation Howard P. Colhoun Family Foundation Matt Levin, Bain Capital Henry and Allison McCance M K Reichert Sternlicht Foundation Ronald Schrager and Wendy Hart Peter Swift and Diana McCargo Jean and Rick Witmer

and Support team, which leads our portfolio-wide monitoring and evaluation, investment selection, and knowledge management and dissemination efforts.


ANNUAL REPORT 2017

I

NEW PROFIT

2017 Highlights

2018 Priorities

Drove investment selection and incubation of New Profit’s

Expand the webinar program to cover additional

Personalized Learning Initiative and Accelerator Program,

organizational development topics of value to the grantee

yielding 24 new grantee partnerships in 2017.

portfolio.

Collaborated with Deloitte to provide high value strategic

Advance the online resource library to cover additional

support to organizations in the grantee portfolio, including

organizational development topics and advance the

Educators for Excellence, Enlearn, Eye to Eye, FoodCorps,

accessibility and design for improved experience and

Match Education, and Third Sector Capital Partners.

collaboration with participating organizations.

Launched a webinar program to share New Profit’s

Explore opportunities to incubate new New Profit

insights on a variety of strategic challenges facing social

initiatives, including one focused on strengthening

entrepreneurs and nonprofit organizations, including

democracy in America and another focused on scaling

board development, securing growth capital, monitoring

cutting-edge health innovations.

and evaluation, and policy change. Launch a New York Advisory board to expand New Began a large-scale review and refresh of New Profit’s organizational development diagnostic framework with a focus on integrating diversity, equity, and inclusion into all internal and external measurement efforts. Began piloting an online resource library with key theories and tools on organizational development that organizations are leveraging to advance their work. Also completed a study on CEO Succession to help organizations to build sustainable leadership practices into their organizations.

Profit’s network.

31


32

NEW PROFIT

I

ANNUAL REPORT 2017

Learn to Earn Fund Supporting the development of 10 million more career-ready Americans by 2025

Overview

LEADERSHIP

The Learn to Earn Fund aims to support and accelerate the development of 10 million more career-ready Americans by 2025. To do this, the Fund works to scale postsecondary and career solutions with proven impact for low-income and underrepresented students in order to: 1) prove that effective low-income student interventions can be scaled and sustained, 2) discredit the excuses given J.B. SCHRAMM Managing Partner GRANTEES Match Beyond

PARTNERS

KEVIN GREER Partner

for the career-readiness gap, and 3) demonstrate effective strategies for next-generation innovators. The Learn to Earn Fund: Creates new solutions that help more Americans develop Power Skills, develop a sustainable market for Power Skills innovation, and increase awareness

Data Quality Campaign

of the importance of Power Skills to the future

GreatSchools

workforce.

DONORS

Elevates alternative college pathways that include three components: intensive support, streamlined

Bloomberg Philanthropies

online postsecondary program, and renewable public

Michael & Susan Dell Foundation

funding covering costs.

ECMC Foundation Paul and Sandy Edgerley, Bain Capital Bill & Melinda Gates Foundation

Builds a productive and engaged cross-sector

Lumina Foundation

network, surfaces and execute high-potential

Henry and Allison McCance

collaborations to address field barriers and shares

PayPal Credit

insights that advance the field.

Jeffrey Shames Siegel Family Endowment Spencer Foundation Stupski Foundation The Boston Foundation The Hassenfeld Foundation The Hirsch Family Foundation The Joyce Foundation The Kresge Foundation Travelers Foundation Walmart Walmart Foundation Ted and Lisa Williams


ANNUAL REPORT 2017

2017 Highlights

2018 Priorities

Learning Lab Workshops

Launch the Power Skills XPRIZE.

I

NEW PROFIT

In partnership with Great!Schools and Data Quality Campaign, designed and launched the College Success

Convene a community of leaders in the College Access &

Award, an investment meant to celebrate high schools

Success field to identify, design, develop, and launch one

doing a great job of launching students from low-

to two transformative initiatives aimed at systems change

income communities to postsecondary success, while

in the field.

simultaneously building demand in local communities for greater availability and accessibility of college enrollment data. Financial Security With the support of the Bill & Melinda Gates Foundation, engaged 100+ field leaders in a listening tour and landscape analysis to identify opportunities for disrupting the dropout cycle in higher education and opportunities for strengthening postsecondary student financial security. Power Skills XPRIZE With support from The Joyce Foundation, Walmart Foundation, Lumina Foundation, and ECMC Foundation, engaged 100+ field leaders in the design of a global prize contest to create technologies that develop Power Skills in entry-level employees. Cultural Competency in Higher Education With support from the Bill & Melinda Gates Foundation, Learn to Earn completed a field analysis of the postsecondary financial security market and incubated the Student POV (“Point of View�) Challenge, a promising initiative that aims to help higher education faculty and administrators build cultural competency around the experiences of their students from under-resourced backgrounds.

33


34

NEW PROFIT

I

ANNUAL REPORT 2017

Reimagine School Systems Fund Increasing the number of high-quality schools serving low-income students

Overview

LEADERSHIP

The goal of the Reimagine School Systems (RSS) Fund is to significantly and rapidly increase the number of high-quality schools (charter and district schools) serving low-income students by funding, advising, and building powerful individual organizations and practitioner networks on both the demand and supply side of systems change. ALEX CORTEZ Managing Partner

MARCO DAVIS Partner

There is ‘latent demand’ for great schools in all communities. All communities care equally about the education of their children. But caring is not the same as power. The RSS Fund aims to build the capacity of organizations to inform and organize parents so they can exercise their power across a range of strategies (see graphic on facing page) to drive change, turning ‘latent demand’ into ‘actionable demand.’ Where ‘actionable demand’ creates the political

YORDANOS EYOEL Associate Partner

and policy conditions for change, the RSS Fund will complement this by supporting the growth of the ‘supply’ of hiqh-quality schools. RSS accomplishes

GRANTEES

this through supporting whole school models, schools developing models for sharing their best

Innovate Public Schools

Education Cities

Match Education

New Politics Leadership Academy

practices as open education resources, and schools

Educators for Excellence

Polis

looking to build their capacity to partner with

GO Public Schools

parents to enable ‘supply’ and ‘actionable demand’ to work hand in hand.

DONORS Anonymous (2)

Edward and Barbara Shapiro

Rick and Nonnie Burnes

Brian and Stephanie Spector

Carnegie Corporation of New York

The Reeder Foundation

Charles and Rebecca Ledley

The Show Me Campaign

Henry and Allison McCance

Walton Family Foundation

Kristin and Stephen Mugford

Ted and Lisa Williams

Arthur and Toni Rembe Rock

Jean and Rick Witmer


ANNUAL REPORT 2017

On school/student performance

INFORM Strategies to equip parents with accurate, accessible information

As individuals supporting children

ORGANIZE Strategies enable parents to develop and exercise power and decision-making

As an organized community

NEW PROFIT

EMPOWERED TO ACT

1

Empowered as parent educators (in or out of school)

2

Voting with their choice (between and within schools)

3

Voting with their voice

4

Voting with their vote

On education policies and politics On practices to support learning

I

Strategies by empowered parents to improve education for their children, their schools, and/or their school system (employed separately or in tandem)

As leaders of their community

Data systems and operations infrastructure that enables effective parent organizing and action * We recognize this work is not necessarily linear

2017 Highlights

2018 Priorities

Publishing a Call to Action on Parent Empowerment

Provide multi-year growth capital and deep advisory

In May, Alex Cortez and Yordanos Eyoel published the

support to our selected social entrepreneurs and their

essay: “If You Want Great Schools, First Work With

organizations to significantly scale their impact – both

Parents to Create ‘Actionable Demand” in The 74

through direct growth and indirect capacity-building of

(www.74million.org), a high-profile nonprofit, non-

others in the sector.

partisan news site covering education in America. Execute on the RSS practitioner networks of learning and Creating a Pipeline to Public Office for Local Parent

action on parent empowerment.

Leaders In May, RSS funded a collaboration between New Politics

Raise field-building fund to support locally rooted schools

Leadership Academy and RISE Colorado to conduct a

and community nonprofits to receive training by national

leadership seminar for 20 parent and student leaders from

leaders in parent organizing to expand promising models

educationally underserved communities in Aurora, CO to

of practice across the country.

explore pursuing public office – elected and appointed. Practitioner Network of Learning and Action on Parent Empowerment Funded by the Carnegie Corporation of New York and the Walton Family Foundation, RSS launched a collaboration with 18 practitioners working across a broad range of parent empowerment strategies to create a common language and set of tools for how to measure and manage from inputs, to outputs and outcomes in the parent empowerment space.

35


36

NEW PROFIT

I

ANNUAL REPORT 2017

Early Learning Fund Increasing the number of children entering kindergarten ready to learn

of a strong start, have created a dynamic opportunity

LEADERSHIP

for transformative change in the early learning field. The EL Fund is focused on the significant gap between the extraordinary surge of research-informed innovation in the field of early learning and the dearth of models, leaders, and platforms needed to translate those innovative solutions into widespread practice. To bridge that gap, the EL Fund seeks to both increase the number of children entering kindergarten ready to learn and create a healthy, vibrant, functioning early learning ecosystem that fosters innovation AARON LIEBERMAN Co-Lead

SHRUTI SEHRA Managing Partner

and scaling of effective practices. EL Fund has done this by:

GRANTEES Acelero Learning

• Investing in a set of breakthrough organizations that span the fund’s core focus areas: parent and family

LIFT

engagement, high quality pre-K, and technology.

Jumpstart

These investments include a mix of organizations

New Teacher Center

that are established as well as a set of emerging

Institute for Early Education Leadership and Innovation at UMass Boston (incubation) Early Learning Lab (incubation) Learning Landscapes (incubation)

DONORS Heising-Simons Foundation The Max M. and Marjorie S. Fisher Foundation

organizations. • Launching a collective advocacy and policy capacity building strategy in partnership with America Forward, in response to significant demand from the fund’s community following the November election and in light of key congressional opportunities for early learning in the 115th Congress.

The LEGO Foundation The David & Lucile Packard Foundation

Going forward, the EL Fund will do this by: • Establishing the Early Childhood Support Organization (ECSO) Initiative, a public-private partnership that

Overview

provides resources and aligns financial incentives to support better outcomes for children from low-income communities who are enrolled in center-based Head

New Profit’s Early Learning (EL) Fund seeks a world where all

Start and subsidized childcare programs. ECSOs will

children have a start in their earliest years of life that sets them on

serve as intermediary organizations that partner with

a course to fulfill their potential. Nearly two million children from

local center-based early childhood providers to help

low-income families arrive in kindergarten every year already

them implement the ECSO’s articulated program

significantly behind their more affluent peers—in their health

model, covering all the new areas we know are

status, education, and social skills.

essential for long-term impact.

Extraordinary advances in neurobiology and behavioral science, together with increasing public recognition of the importance


ANNUAL REPORT 2017

I

NEW PROFIT

2017 Highlights

2018 Priorities

The EL Fund made investments in a set of organizations

The EL Fund team will work closely with current

that span our three strategic focus areas: high quality

investment organizations to support their growth.

pre-K, parent and family engagement, and technology. The EL Fund’s portfolio includes signature investments in

We aim to launch the ECSO Initiative, supporting a cohort

organizations that have already achieved significant scale,

of high-quality early learning providers who will work

such as New Teacher Center, Jumpstart, LIFT, and Acelero

with local preschool programs to implement evidence-

Learning, as well as incubation investments in younger

based curricula and supports.

organizations that are developing new approaches to accelerate impact, such as the Institute for Early Education

Driven by critical priorities identified by the Early Learning

Leadership and Innovation at UMass Boston, Early

Policy Work Group, we will engage key Congressional

Learning Lab, and Learning Landscapes.

staffers and members on budget and legislative priorities and launch a targeted field engagement strategy in

Aaron Lieberman, the co-founder and former CEO of New Profit portfolio organizations Jumpstart (past) and Acelero Learning (current), has joined the EL Fund team to lead the exploration of a new effort, the Early Childhood Support Organization (ECSO) Initiative. Despite the tremendous potential impact of high quality early education, nearly one million children languish in low-performing programs. Many early childhood education (ECE) programs are limited by the fact that there is no clear model to drive impact; most ECE administrators design their own programmatic approach and the market for commercial products is limited. The ECSO Initiative is designed to align incentives and provide the resources and supports needed to increase the quality of early learning programs and improve child outcomes. In partnership with the EL Fund, America Forward, New Profit’s nonpartisan policy advocacy arm, is leading a collective advocacy strategy to advance early learning policy. This summer, America Forward launched an Early Learning Policy Work Group to draft and champion a key set of policy priorities.

support of this work.

37


38

NEW PROFIT

I

ANNUAL REPORT 2017

Personalized Learning Initiative Supporting new and emerging models in the personalized learning field

LEADERSHIP

Overview New Profit’s Personalized Learning Initiative, which launched in 2017, is an effort to invest in promising new approaches and technologies that can give students more agency in their own learning journey and provide teachers with tools to tailor classroom instruction to the unique needs of each student. The initiative will support a variety of new and

TREVOR BROWN Partner GRANTEES Highlander Institute

emerging models rising in the nascent personalized learning field, including on-the-ground school models implementing a personalized learning curriculum in classrooms; tools and platforms for teachers, parents, and students to adopt for more

imBlaze (Big Picture Learning)

individualized supports; technical assistance that

iNACOL

provides deep implementation support for schools

PowerMyLearning

and districts; policy and advocacy efforts for best

The Learning Accelerator

practices in personalized learning; and knowledge

Transcend Valor Collegiate Academies

DONORS Bill & Melinda Gates Foundation Chan Zuckerberg Initiative DAF, Silicon Valley Community Foundation

dissemination and network connections.


ANNUAL REPORT 2017

I

NEW PROFIT

2017 Highlights

2018 Priorities

To support investment selection and fund strategy

The seven organizations will be kickstarting a Learning

efforts, we identified, invited, and convened an Advisory

Community to share insights across different models

Committee: Steve Arnold, Founding Partner Emeritus,

and practices and partner to accelerate the overall

Polaris Partners; Colin Gillespie, former President, LEGO

development of the field. Current New Profit grantee-

Education, North America; Steve Mugford, Executive

partners in personalized learning, such as LEAP

Vice President, Head of Strategy, Capital One; Yutaka

Innovations (led by Phyllis Lockett), New Classrooms

Tamura, Founder and Senior Advisor, Excel Academy; and

(led by Joel Rose), and Enlearn (led by Zoran Popovic),

Rick Witmer, Partner, Investment Management, Brown

will join the Learning Community to provide insight and

Brothers Harriman.

engage with the leaders of the new grantee-partner organizations.

The initiative was launched and garnered coverage in influential media outlets including the Chronicle of Philanthropy, Education Week, EdSurge, BizWomen, and others. Helayne Jones, a visionary leader in the personalized learning field who formerly led related initiatives at the Bill & Melinda Gates Foundation, joined New Profit as a Senior Advisor with particular focus on supporting the Personalized Learning Initiative. iNACOL became the first organization in the cohort to enter a strategic planning collaboration with New Profit and Deloitte. The first convening of the full cohort occurred in Nashville, TN in November 2017.

39


40

NEW PROFIT

I

ANNUAL REPORT 2017

America Forward LEADERSHIP

"In our opinion, America Forward has moved further, faster than any U.S. organization in identifying and promoting look-forward agendas in critical social areas that demand immediate national attention. The high quality of the members you have drawn to your organization is clearly illustrative of the power of your proposed agenda." - SANDY MARTIN CONNECTICUT CENTER FOR SOCIAL INNOVATION

DEBORAH S. SMOLOVER Managing Partner, NEW PROFIT Executive Director, AMERICA FORWARD

America Forward is the Washington, DC-based nonpartisan policy initiative of New Profit whose mission is to unite social entrepreneurs 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 that foster innovation, identify more efficient and effective solutions, reward results, and catalyze cross-sector partnerships in education, early childhood, workforce development, youth development, and poverty alleviation. Together, the America Forward Coalition members have leveraged $1.5 billion for social innovation and have driven millions of federal resources toward programs that are achieving measurable results for those who need them most. Our Coalition members are achieving measurable outcomes in more than 14,500 communities across the country every day, touching the lives of nearly 8 million Americans each year. We believe that innovative policy approaches can transform these local results into national change and propel all of America forward.


ANNUAL REPORT 2017

I

NEW PROFIT

America Forward 2017 HIGHLIGHTS

Collective Advocacy Work: Responsive to Congress and the new Administration, the America Forward Coalition redoubled its collective advocacy efforts by ratifying bold policy platforms and engaging in high-impact advocacy in: early learning, elementary and secondary education, career and technical education, higher education, workforce development, and Pay for Success and evidence-based policy. In 2017, the Coalition grew to 75 organizations and includes a network of aligned partners committed to advancing policies that foster innovation, reward results, and catalyze cross-sector partnerships. Field Leadership Partnership Activities: America Forward engaged in a robust partnership with the Council of Chief State School Officers’ (CCSSO) Innovation Lab Network on the implementation of the Every Student Succeeds Act (ESSA) and collaborated on a leading Equity & Personalized Learning briefing publication. America Forward also authored articles and hosted national webinars and external events highlighting Pay for Success strategies to achieve positive outcomes for youth and increase focus on outcomes in the workforce development system, in collaboration with Third Sector Capital Partner’s Social Innovation Fund grant efforts. Piloting the America Forward Advocacy Institute: In 2017, America Forward piloted its newest initiative, the America Forward Advocacy Institute, designed to provide social entrepreneurs and social innovation organizations with specialized advocacy training and capacity-building to enable the social sector to make advocacy a core part of its systems change strategy. Pilot offerings included trainings on public policy and strategic communications and a hands-on Hill day with the Reimagine Learning Practitioners’ Working Group in Washington, D.C.

2018 PRIORITIES

Launching the America Forward Advocacy Institute: In 2018, America Forward will fully launch the America Forward Advocacy Institute, offering tiered levels of policy, advocacy, and communications training and support to social innovation organizations and their constituents. America Forward plans to provide a range of training offerings including Advocacy Institute Briefings and Webinars, Advocacy Institute Boot Camps, and an Advocacy Institute Fellowship Program. Celebrating America Forward’s 10th Anniversary: In 2008, New Profit launched America Forward and over the past ten years, the America Forward Coalition has played a critical role in some of the most innovative federal policy achievements in education, workforce development, social innovation, and evidence-based practice. In 2018, we will highlight our collective accomplishments and set the stage for future growth at a 10th Anniversary celebration.

41


42

NEW PROFIT

I

ANNUAL REPORT 2017

Field Leadership LEADERSHIP

"If we, as a New Profit community, are going to rise to the occasion and truly solve the challenges we're trying to solve in this country, we need to find the intersectionality that ties us all together and unites the work we're doing." - CURT ELLIS Co-founder and Chief Executive Officer FOODCORPS

KIM SYMAN Managing Partner

The Field Leadership team seeks to find innovative solutions to the toughest challenges in the social sector by leveraging strategic partnerships, building network capacity, developing cutting edge content, and identifying and enlisting new, diverse leaders in our community. Through our communications and convenings capabilities, we advance and support New Profit’s existing strategies and serve as a frontline player and trusted advisor in philanthropy, policy, and social entrepreneurship. The Field Leadership team oversees New Profit’s annual Gathering of Leaders, one of the nation’s most influential convenings of top social innovators and their counterparts in business, government, media, philanthropy, and academia. This invitation-only event brings together nearly 300 participants for a two-day convening to accelerate solutions to our nation’s toughest problems in early childhood development, community health, poverty, and related areas. Participants challenge each other’s beliefs and assumptions, 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.

LIST OF DONORS

BROMLEY CHARITABLE TRUST

JB LYON

HOWARD P. COLHOUN FAMILY FOUNDATION

HENRY AND ALLISON MCCANCE

DELOITTE CONSULTING LLP

EDNA MCCONNELL CLARK FOUNDATION

BILL & MELINDA GATES FOUNDATION

PEERY FOUNDATION

GRACE INSTITUTE FOUNDATION

POSES FAMILY FOUNDATION

KAPOR CENTER FOR SOCIAL IMPACT

WALMART​​

RENUKA KHER

WELLS FARGO ADVISORS


ANNUAL REPORT 2017

I

NEW PROFIT

Field Leadership 2017 HIGHLIGHTS

The 2017 Gathering of Leaders, held in Atlanta, GA, brought together a larger and more diverse group of participants than ever, supporting our explicit commitment to foster new networks and understanding across a wide-array of communities and sectors. 40% of participants attended for the first time 32% of participants identified as people of color 53% of participants were women Key speakers included former U.S. Ambassador Andrew Young, Van Jones (Dream Corps), Michaela Angela Davis (MAD FREE and CNN), and James Fallows (The Atlantic and the American Futures Project). New Profit received coverage in a range of influential media outlets, including the New York Times, the Chronicle of Philanthropy, Inside Philanthropy, Nonprofit Quarterly, Education Week, EdSurge, The 74, and others.

2018 PRIORITIES

Celebrate New Profit’s 20th Anniversary Year: We have transformative accomplishments to celebrate, catalytic lessons-learned to share, and a dynamic, diverse new generation of social entrepreneurs and leaders entering our portfolio. At the same time, we have major challenges to face relating to public policy, funding, and partisanship. Our goals for the year will be to set an ambitious vision for the future that we can use to galvanize our community, empower and support a new generation of diverse leaders, and mobilize unprecedented resources to strengthen and expand our work and move decisively towards greater systemic impact. 2018 Gathering of Leaders: The 2018 Gathering of Leaders, which will take place in Boston, will build upon those same 20th Anniversary themes.

43


44

NEW PROFIT

I

ANNUAL REPORT 2017

Partners


ANNUAL REPORT 2017

I

NEW PROFIT

45


46

NEW PROFIT

I

ANNUAL REPORT 2017

Partners

New Profit’s groundbreaking collaboration with Deloitte Consulting LLP, a leading professional services firm, has helped social entrepreneurs and other social impact leaders access Fortune 500-caliber strategic support since 2013. Over that time, 23 New Profit portfolio organizations have received pro bono support from Deloitte totaling $8.8 million, delivered by dozens of professionals from across the organization. Two Deloitte leaders - Stephen Jennings and Mike Canning - oversee the relationship as members of New Profit’s Board of Directors.

In 2017, Deloitte and New Profit completed high impact growth strategy and other strategic support projects with:

We are currently underway with a new round of projects to support with the following portfolio organizations: City Connects, City Year, iNACOL, LIFT, Leap Innovations, the Learning Accelerator,Big Picture Learning, and the Highlander Institute.

Deloitte was also a generous supporter of the 2017 Gathering of Leaders and we are collaborating on new opportunities.


ANNUAL REPORT 2017

I

NEW PROFIT

Partners

Since our inception, leaders and employees from Bain Capital have generously supported our work in a variety of ways. In 2017, one story stood out. Through facilitation by New Profit, David Spiller, a senior vice president at Bain Capital Private Equity, joined the board of New Teacher Center (NTC). One of New Profit’s most transformative portfolio organizations, NTC trains nearly 10% of all new teachers in America and has shown some outstanding results in raising student achievement in underserved schools.

Shruti Sehra, a New Profit Managing Partner who serves alongside David on NTC’s board, recently interviewed David about his experience thus far.

SS: What led you to decide to get more involved in

SS: How are you applying the skills you have honed at Bain

education reform and how did you get connected to the

Capital to the complex work of social problem solving and

opportunity to serve on NTC’s board?

education reform?

DS: I have long had an interest in the educational system

DS: Because the NTC board has a mix of people with

because I have a number of teachers in my family.

experience in education, philanthropy, and the private sector,

My daughter also reached school age recently and that led

I try to really focus my energy in areas where I have specific

me to think a lot about it. Many of us are really privileged to

relevant experience. For example, I have volunteered to help

be able to send our kids to great schools and I had an urge

lead an important executive search process for the

to get involved to make that opportunity available to less

organization, which is something I have done at a number

fortunate kids as well.

of my portfolio companies. Similarly, I have gotten involved in the board technology committee, helping develop the

SS: What is the biggest lesson you’ve learned about

strategy for a more technology-driven NTC business model.

education during your time on the NTC board?

We have capability building expertise that is not always available to nonprofits, so it feels good to be able to apply

DS: I don’t think I fully appreciated how many stakeholders are involved in decision-making at all levels of the educational system. It goes to show how leaders in social change need to think beyond just programming to engaging policymakers, community leaders, teachers, and students themselves if they want to change the overall system.

it in a valuable way.

47


48

NEW PROFIT

I

ANNUAL REPORT 2017

Board of Directors

STEVE BARNES

JOSH BEKENSTEIN

MIKE CANNING

Managing Director

Managing Director

BAIN CAPITAL PRIVATE EQUITY

BAIN CAPITAL PRIVATE EQUITY

Principal, National Managing Director Strategy & Operations DELOITTE CONSULTING LLP

PAUL GROGAN

DAVID HARRIS

President & CEO

Provost & Senior Vice President

Principal, Strategy & Operations

STEPHEN M. JENNINGS

THE BOSTON FOUNDATION

TUFTS UNIVERSITY

DELOITTE CONSULTING LLP

VANESSA KIRSCH

WENDY KOPP

HENRY McCANCE

Founder & CEO

CEO & Co-Founder

Chairman Emeritus

NEW PROFIT

TEACH FOR ALL

GREYLOCK PARTNERS


ANNUAL REPORT 2017

BILL McCLEMENTS

DUNCAN McFARLAND

Business Executive & Advisor

THE BROMLEY CHARITABLE TRUST

I

NEW PROFIT

VALERIE MOSLEY Chairwoman VALMO VENTURES

KRISTIN MUGFORD

MARK E. NUNNELLY

JIM PALLOTTA

Senior Lecturer

Special Advisor to the Governor for Technology and Innovation, Executive Director

Chairman & Managing Director

HARVARD BUSINESS SCHOOL

RAPTOR CAPITAL MANAGEMENT

MASS IT

JOHN RICE

BRIAN SPECTOR

Founder & CEO

Partner Emeritus

Chairman

MANAGEMENT LEADERSHIP

THE BAUPOST GROUP

MILLENNIUM DEVELOPMENT

FOR TOMORROW (MLT)

JEFFREY C. WALKER [CHAIR]

GOALS HEALTH ALLIANCE

49


50

NEW PROFIT

I

ANNUAL REPORT 2017

Donor Roll INVESTORS

Kate and Bill Duhamel

Tristin and Martin Mannion

Mark and Carolyn Ain

ECMC Foundation

Henry and Allison McCance

American Express Foundation

Paul and Sandy Edgerley

Douglas and Audrey Miller

bain capital

international private equity limited

Marjorie M. Findlay and Geoffrey T. Freeman

Hinda and Joel Miller

Lance Fors

Valerie Mosley

Anonymous (6) Bank of America Charitable Foundation Deborah and Steve Barnes

social venture partners international

Kristin and Stephen Mugford

bain capital

Bill & Melinda Gates Foundation Josh and Anita Bekenstein

Joshua Musher

bain capital

Sima Ghadamian

James L. Bildner Charitable Trust

Grace Institute Foundation

Bromley Charitable Trust

Josh and Sarah Greenhill

Kevin and Julie Callaghan

Heising-Simons Foundation

Oak Foundation Christine Olsen and Rob Small James and Kim Pallotta berkshire partners

Saul Pannell and Sally Currier M. Roch Hillenbrand

Carnegie Corporation of New York

the hillenbrand family foundation

Chan Zuckerberg Initiative DAF

Florence Koplow

silicon valley community foundation

Roger and Lisa Krakoff Howard P. Colhoun Family Foundation Jonathan and Jeannie Lavine Estate of Kathryn W. Davis

bain capital

Michael & Susan Dell Foundation

Matt Levin

PayPal Credit Peery Foundation Poses Family Foundation M K Reichert Sternlicht Foundation Arthur and Toni Rembe Rock

bain capital

Barry and Evelyn Salzberg

Doran Family Charitable Trust George Lucas Family Foundation

Maurice and Luly Samuels

Nancy C. and Dale Dougherty Foundation Lumina Foundation


ANNUAL REPORT 2017

I

NEW PROFIT

Ronald Schrager and Wendy Hart

The Reeder Foundation

Jeffrey Homer

Jeffrey Shames

The Peter and Elizabeth C. Tower Foundation

Kapor Center for Social Impact

Edward and Barbara Shapiro

Adam and Nicole Katz The Trustee’s Philanthropy Fund

Siegel Family Endowment Alan and Susan Solomont

fidelity charitable

Tower Family Fund

Renuka Kher Jeff Livingston edsolutions

Brian and Stephanie Spector

Travelers Foundation JB Lyon

State Street Foundation

Jeffrey C. and Suzanne C. Walker Elisabeth Mason

Stupski Foundation

Walmart Edna McConnell Clark Foundation

Peter Swift and Diana McCargo

Walton Family Foundation T. Rowe Price Foundation

The Boston Foundation

Wells Fargo Advisors Samberg Family Foundation

The Bronner Charitable Foundation

Ted and Lisa Williams Gary Syman

The Annie E. Casey Foundation

Jean and Rick Witmer The Tow Foundation

The Max M. and Marjorie S. Fisher Foundation

UnboundED SUPPORTERS

The Hirsch Family Foundation

Howard and Candice Wolk Anonymous

The Joyce Foundation David Belluck The Kresge Foundation

PARTNERS Dan and Robin Catlin

The LEGO Foundation

Deloitte Ulrik Christensen

The David & Lucile Packard Foundation

Goodwin Procter LLP Francis Greenburger

51


52

NEW PROFIT

I

ANNUAL REPORT 2017

Financials


ANNUAL REPORT 2017

I

NEW PROFIT

53


54

NEW PROFIT

I

ANNUAL REPORT 2017

Financials New Profit 2016 Financial Information REVENUE BREAKDOWN Individuals and Family Foundations

13,123,152

Corporations and Foundations

25,874,741

Deloitte In-Kind Services

2,577,159

Other In-Kind Services

201,098

Other Income

53,813

Total Revenue:

$41,829,963

0.5%

0.1%

Other In-Kind Services

Other Income

Deloitte In-Kind Services

6% 4%

45% 62%

Corporations and Foundations

2016 REVENUE

12%

Individuals and Family Foundations

31% 37%


ANNUAL REPORT 2017

I

NEW PROFIT

EXPENSE BREAKDOWN Grantmaking

12,250,073

Portfolio Management

7,849,551

Administration, Communications and Fundraising

3,387,555

Field Leadership

3,036,748

Deloitte In-Kind Services

2,577,159

Total Expense:

$29,101,086

Deloitte In-Kind Services Field Leadership

Administration, Communications and Fundraising

Grantmaking

10%

CHANGES IN NET ASSETS: Increase in restricted

9%

Increase in unrestricted

12% 2016 EXPENSE

Restricted

27%

11,868,990 859,887

42% TOTAL NET ASSETS:

Portfolio Management

$12,728,877

Unrestricted

$54,807,007 53,346,296 1,460,711

55


56

NEW PROFIT

I

ANNUAL REPORT 2017

Portfolio Directory


ANNUAL REPORT 2017

I

NEW PROFIT

57


58

NEW PROFIT

I

ANNUAL REPORT 2017

Portfolio Directory NEW PROFIT INNOVATION FUND

EARLY LEARNING FUND

LEARN TO EARN FUND

REIMAGINE LEARNING FUND

REIMAGINE SCHOOL SYSTEMS FUND


ANNUAL REPORT 2017

I

NEW PROFIT

Portfolio Directory PERSONALIZED LEARNING INITIATIVE

WOMEN’S ACCELERATOR

PROXIMITY ACCELERATOR

UNLOCKED FUTURES

59


60

NEW PROFIT

I

ANNUAL REPORT 2017

Portfolio Directory UNLOCKED FUTURES

DETROIT JUSTICE CENTER


ANNUAL REPORT 2017

"You just never know who the unlikely, great partners are going to be. That is why a network is such a powerful tool." - NANCY VAN MILLIGEN

President and CEO COMMUNITY FOUNDATION OF GREATER DUBUQUE

I

NEW PROFIT

61


62

NEW PROFIT

I

ANNUAL REPORT 2017

In Memoriam

Chris Herron (1976-2017)

New Profit’s 2017 Annual Report is dedicated to the life and memory of Chris Herron, our beloved friend and colleague who passed away this year after a courageous battle with cancer. Chris’s passion for social justice, his generous, collaborative spirit, and his sharp intellect and sense of humor were evident in all the work he did and the life he led. In his own quiet way, he touched so many of us and left an enduring mark on our community. We miss him deeply.


200 Clarendon Street Boston, MA 02116 info@newprofit.org www.newprofit.org

Profile for New Profit

New Profit Annual Report 2016 - 2017  

Building Capacity for the Future

New Profit Annual Report 2016 - 2017  

Building Capacity for the Future

Profile for newprofit