Nonprofit · EIN 04-3396766
NEW PROFIT INC
Tax-exempt · BOSTON, MA 02109
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $32,899,701 | $54,031,580 | -$21,131,879 | $98,782,334 | $935,163 | $97,847,171 |
| December 31, 2024 | 990 | $33,625,326 | $43,748,913 | -$10,123,587 | $120,251,296 | $2,031,563 | $118,219,733 |
| December 31, 2023 | 990 | $74,873,760 | $40,589,935 | $34,283,825 | $130,066,105 | $1,720,882 | $128,345,223 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $29,529,269
- Program service revenue
- $26,350
- Investment income
- $3,339,933
- Other revenue
- $4,149
Expenses
- Grants and similar amounts paid
- $31,176,665
- Compensation of officers, directors and key employees
- $1,963,782
- Other salaries and wages
- $11,827,914
- Salaries, compensation and benefits (total)
- $16,273,671
- Professional fundraising fees
- $0
- Accounting fees
- $38,065
- Occupancy
- $1,137,418
- Travel
- $577,456
- Program services (functional)
- $43,686,323
- Management and general (functional)
- $6,664,005
- Fundraising (functional)
- $3,681,252
Balance sheet and other
- Total assets, start of year
- $120,251,296
- Total assets, end of year
- $98,782,334
- Total liabilities, end of year
- $935,163
- Net assets, end of year
- $97,847,171
- Net assets without donor restrictions
- $34,994,338
- Net assets with donor restrictions
- $62,852,833
- Gross receipts
- $32,899,701
- Employees
- 98
- Volunteers
- 17
- Year formed
- 1997
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| TULAINE MONTGOMERY | CEO Trustee or director, Officer | 45 | $524,222 | $18,130 |
| VANESSA KIRSCH | FOUNDER IN RESIDENCE/SENIOR PARTNER Trustee or director, Officer | 45 | $364,234 | $37,080 |
| DOUGLAS BORCHARD | MANAGING PARTNER, COO Officer | 45 | $355,636 | $37,063 |
| ELIZA GREENBERG | PRESIDENT Officer | 45 | $357,119 | $30,466 |
| DAVID LEVY | SENIOR ADVISOR Highest-paid employee | 45 | $363,048 | $8,300 |
| DEBORAH SMOLOVER | MANAGING PARTNER,ED AMERICAN FORWARD Highest-paid employee | 45 | $336,585 | $13,019 |
| MAX POLANER | MANAGING PARTNER, INVESTOR RELATIONS Highest-paid employee | 45 | $260,671 | $36,984 |
| SHAWN DOVE | MANAGING PARTNER, ECOSYSTEM BUILDING Highest-paid employee | 45 | $256,436 | $30,980 |
| SHRUTI SEHRA | MANAGING PARTNER, ECOSYSTEM BUILDING & EDUCATION Highest-paid employee | 45 | $259,427 | $18,002 |
| IAN MAGEE | MANAGING PARTNER, CFO (UNTIL 7/2025) Officer | 30 | $200,309 | $12,831 |
| STEVE JENNINGS | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| JOSH BEKENSTEIN | DIRECTOR (UNTIL 12/2025) Trustee or director | 1 | $0 | $0 |
| KERWIN CHARLES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SAM COBBS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ALISA DOCTOROFF | DIRECTOR Trustee or director | 1 | $0 | $0 |
12 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DAVID GERGEN | DIRECTOR (UNTIL 6/2025) Trustee or director | 1 | $0 |
| STACY JANIAK | DIRECTOR Trustee or director | 1 | $0 |
| MATT LEVIN | DIRECTOR Trustee or director | 1 | $0 |
| HENRY MCCANCE | DIRECTOR Trustee or director | 1 | $0 |
| DUNCAN MCFARLAND | DIRECTOR Trustee or director | 1 | $0 |
| KWASI MITCHELL | DIRECTOR Trustee or director | 1 | $0 |
| KRISTIN MUGFORD | DIRECTOR (UNTIL 10/2025) Trustee or director | 1 | $0 |
| DEBORAH QUAZZO | DIRECTOR (UNTIL 6/2025) Trustee or director | 1 | $0 |
| JOHN RICE | DIRECTOR Trustee or director | 1 | $0 |
| BRIAN SPECTOR | DIRECTOR Trustee or director | 1 | $0 |
| VENKAT SRINIVASAN | DIRECTOR Trustee or director | 1 | $0 |
| JEFFREY WALKER | DIRECTOR (UNTIL 10/2025) Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 33 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| TULAINE MONTGOMERY | CEO Trustee or director, Officer | 45 | $523,644 | $17,045 |
| VANESSA KIRSCH | FOUNDER IN RESIDENCE AND SENIOR PARTNER Trustee or director, Officer | 45 | $361,450 | $34,721 |
| DEBORAH SMOLOVER | MANAGING PARTNER,ED OF AMERICA FORWARD Highest-paid employee | 45 | $338,948 | $33,283 |
| ELIZA GREENBERG | PRESIDENT Key employee | 45 | $342,703 | $27,282 |
| DAVID LEVY | SENIOR ADVISOR Highest-paid employee | 45 | $359,965 | $8,168 |
| DOUGLAS BORCHARD | MANAGING PARTNER, COO Officer | 45 | $345,173 | $21,002 |
| IAN MAGEE | MANAGING PARTNER, CFO Officer | 45 | $274,268 | $17,036 |
| GIA TRUONG | MANAGING PARTNER, EQUITY & PROXIMITY Key employee | 45 | $248,766 | $34,707 |
| SHAWN DOVE | MANAGING PARTNER,ECOSYSTEM BUILDING Highest-paid employee | 45 | $245,522 | $28,707 |
| DERREK SHULMAN | PARTNER, SENIOR PHILANTHROPIC ADVISOR Highest-paid employee | 45 | $231,658 | $34,704 |
| SHRUTI SEHRA | MANAGING PARTNER,ECOSYSTEM BUILDING AND EDUCATION Highest-paid employee | 45 | $248,261 | $17,026 |
| MATRIKA BAILEY-TURNER | CHIEF OF STAFF Key employee | 45 | $169,016 | $10,874 |
| STEVE JENNINGS | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| STEVE BARNES | DIRECTOR (UNTIL 5/2024) Trustee or director | 1 | $0 | $0 |
| JOSH BEKENSTEIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KERWIN CHARLES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SAM COBBS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ALISA DOCTOROFF | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID GERGEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| STACY JANIAK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| WENDY KOPP | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MATT LEVIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HENRY MCCANCE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DUNCAN MCFARLAND | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KWASI MITCHELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| VALERIE MOSLEY | DIRECTOR (UNTIL 10/2024) Trustee or director | 1 | $0 | $0 |
| KRISTIN MUGFORD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARK NUNNELLY | DIRECTOR (UNTIL 5/2024) Trustee or director | 1 | $0 | $0 |
| DEBORAH QUAZZO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN RICE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRIAN SPECTOR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| VENKAT SRINIVASAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JEFFREY WALKER | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 33 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| TULAINE MONTGOMERY | CEO Trustee or director, Officer | 45 | $522,002 | $16,696 |
| VANESSA KIRSCH | FOUNDER-IN-RESIDENCE AND SENIOR PARTNER Trustee or director, Officer | 45 | $444,313 | $33,780 |
| DEBORAH SMOLOVER | MANAGING PARTNER,ED OF AMERICA FORWARD Highest-paid employee | 45 | $337,372 | $32,336 |
| IAN MAGEE | MANAGING PARTNER, CFO Officer | 45 | $352,855 | $16,679 |
| ELIZA GREENBERG | PRESIDENT Key employee | 45 | $331,777 | $26,328 |
| DAVID LEVY | SENIOR ADVISOR Highest-paid employee | 45 | $353,056 | $2,008 |
| DOUGLAS BORCHARD | COO Officer | 45 | $337,333 | $6,783 |
| SHAWN DOVE | MANAGING PARTNER,ECOSYSTEM BLDG. Highest-paid employee | 45 | $243,334 | $27,762 |
| GIA TRUONG | MANAGING PARTNER,EQUITY & PROXIMITY Key employee | 45 | $239,887 | $28,124 |
| SHRUTI SEHRA | MANAGING PARTNER,ECOSYSTEM BLDG & EDUC Highest-paid employee | 45 | $244,031 | $16,678 |
| SAMUEL J HIERSTEINER | SENIOR PARTNER Highest-paid employee | 45 | $222,537 | $33,758 |
| MATRIKA BAILEY-TURNER | CHIEF OF STAFF Key employee | 45 | $161,895 | $10,483 |
| STEVE JENNINGS | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| STEVE BARNES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOSH BEKENSTEIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KERWIN CHARLES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SAM COBBS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ALISA DOCTOROFF | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID GERGEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| STACY JANIAK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| WENDY KOPP | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MATT LEVIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HENRY MCCANCE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DUNCAN MCFARLAND | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KWASI MITCHELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| VALERIE MOSLEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KRISTIN MUGFORD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARK NUNNELLY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DEBORAH QUAZZO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN RICE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRIAN SPECTOR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| VENKAT SRINIVASAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JEFFREY WALKER | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 6 LIBERTY SQUARE 2648, BOSTON, MA 02109-5800
- Principal officer (990 for 2025)
- MOLLY O'DONNELL, 6 LIBERTY SQUARE 2648, BOSTON, MA 02109
- Signed the 990
- MOLLY O'DONNELL, PRESIDENT
- Phone
- (617) 912-8800
- Website
- WWW.NEWPROFIT.ORG
- Return prepared by
- AAFCPAS INC
Mission
SEE SCHEDULE O.
Program accomplishments
- SEE SCHEDULE O.Expenses $23,846,674 · grants $19,000,000
- SEE SCHEDULE O.Expenses $9,407,600 · grants $4,999,999 · revenue $26,350
- SEE SCHEDULE O.Expenses $6,146,141 · grants $5,416,666
- PORTFOLIO CATALYZE THROUGH OUR CATALYZE INVESTMENTS, WE PROVIDE $100K UNRESTRICTED GRANTS, A $10,000 GRANT FOR LEADERSHIP DEVELOPMENT, AND STRATEGIC ADVISORY SUPPORT OVER ONE YEAR. OUR COHORT-BASED MODEL ENABLES SOCIAL ENTREPRENEURS TO BUILD COMMUNITY WITH PEERS AND PARTICIPATE IN A SERIES OF IN-PERSON CONVENINGS AND WEBINARS. THIS PROGRAMMING IS DESIGNED TO SUPPORT ORGANIZATIONS DEEPENING THEIR IMPACT AND SCALING THEIR MODELS BY TACKLING KEY LEADERSHIP AND ORGANIZATIONAL CHALLENGES.OUR GRANTEES ARE DRIVING IMPACT IN EDUCATION, HEALTH, CRIMINAL JUSTICE REFORM, DEMOCRACY, AND ECONOMIC MOBILITY.Expenses $3,733,845 · grants $1,760,000
- PORTFOLIO - PORTFOLIO PERFORMANCE & SUPPORTNEW PROFIT ASSUMES A VARIETY OF ROLES WITH GRANTEES INCLUDING ADVISOR, COACH, AND BOARD MEMBER, IN ORDER TO PROVIDE STRATEGIC GUIDANCE GEARED TOWARDS BUILDING ORGANIZATIONS' KEY CAPABILITIES. WE BELIEVE THAT INCREASES IN THESE CAPABILITIES INCLUDING LEADERSHIP, IMPACT MODEL, STRATEGIC MANAGEMENT AND PLANNING, AND ECONOMIC MODEL ARE THE NECESSARY FOUNDATION FOR IMPACT, SCALE, AND SUSTAINABILITY, IN THE LONG-TERM. THROUGHOUT THE GRANT TERM, NEW PROFIT ALSO INVITES GRANTEES AND ALUMNI TO TAKE PART IN CONVENINGS THAT BRING TOGETHER PEER ORGANIZATIONS, FIELD EXPERTS, AND PHILANTHROPIC PLAYERS FROM ACROSS OUR NATIONAL NETWORK.Expenses $552,063
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 04-3396766
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1998
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S50)
- Assets (IRS master file)
- $98,782,334
- Income (IRS master file)
- $32,899,701
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $32,899,701 | $54,031,580 | $98,782,334 | XML |
| 990 | December 2024 | $33,625,326 | $43,748,913 | $120,251,296 | XML |
| 990 | December 2023 | $74,873,760 | $40,589,935 | $130,066,105 | XML |
| 990 | December 2022 | $22,156,350 | $35,518,909 | $102,096,696 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 04-3396766).
Questions about NEW PROFIT INC
- What is the EIN of NEW PROFIT INC?
- The employer identification number (EIN) of NEW PROFIT INC is 04-3396766.
- Is NEW PROFIT INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1998.
- Are donations to NEW PROFIT INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NEW PROFIT INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NEW PROFIT INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NEW PROFIT INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of NEW PROFIT INC?
- The 990 for the year ended December 31, 2025 names MOLLY O'DONNELL.
- Who are the officers and directors of NEW PROFIT INC?
- The 990 for the year ended December 31, 2025 lists 27 people; 10 received compensation from the organization, the highest $524,222 (TULAINE MONTGOMERY, CEO).
- How much revenue does NEW PROFIT INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $32,899,701, expenses of $54,031,580 and total assets of $98,782,334 at year end.
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All nonprofits in BOSTON · Massachusetts · Community improvement and capacity building