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Nonprofiteer
← NEW PROFIT INC

Form 990 for tax year 2024

Filed by NEW PROFIT INC.

Totals

Total revenue
$33,625,326
Total expenses
$43,748,913
Contributions and grants received
$29,503,554
Grants paid
$16,880,857
Program service revenue
$109,958
Investment income
$4,011,814
Other revenue
$0
Total assets, end of year
$120,251,296
Total liabilities, end of year
$2,031,563
Net assets or fund balances, end of year
$118,219,733
Program services expenses (Part IX)
$34,479,159
Management and general expenses
$5,861,487
Fundraising expenses
$3,408,267
Program service expenses (Part III)
$34,479,159

Program services were 78.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • TULAINE MONTGOMERY

    CEO

    Total calculated
    $540,689
    From this org
    $523,644
    From related orgs
    $0
    Other
    $17,045
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $523,644
    Bonus
    $0
    Other
    $0
    Deferred
    $6,000
    Nontaxable benefits
    $11,045
    Filer's total
    $540,689

  • VANESSA KIRSCH

    FOUNDER IN RESIDENCE AND SENIOR PARTNER

    Total calculated
    $396,171
    From this org
    $361,450
    From related orgs
    $0
    Other
    $34,721
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $361,450
    Bonus
    $0
    Other
    $0
    Deferred
    $6,000
    Nontaxable benefits
    $28,721
    Filer's total
    $396,171

  • STEVE JENNINGS

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • STEVE BARNES

    DIRECTOR (UNTIL 5/2024)

    Total calculated
    $0
    Hours/week
    1

  • JOSH BEKENSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KERWIN CHARLES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SAM COBBS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ALISA DOCTOROFF

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAVID GERGEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STACY JANIAK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WENDY KOPP

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MATT LEVIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HENRY MCCANCE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DUNCAN MCFARLAND

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KWASI MITCHELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VALERIE MOSLEY

    DIRECTOR (UNTIL 10/2024)

    Total calculated
    $0
    Hours/week
    1

  • KRISTIN MUGFORD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARK NUNNELLY

    DIRECTOR (UNTIL 5/2024)

    Total calculated
    $0
    Hours/week
    1

  • DEBORAH QUAZZO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN RICE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRIAN SPECTOR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VENKAT SRINIVASAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JEFFREY WALKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DOUGLAS BORCHARD

    MANAGING PARTNER, COO

    Total calculated
    $366,175
    From this org
    $345,173
    From related orgs
    $0
    Other
    $21,002
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $345,173
    Bonus
    $0
    Other
    $0
    Deferred
    $6,000
    Nontaxable benefits
    $15,002
    Filer's total
    $366,175

  • IAN MAGEE

    MANAGING PARTNER, CFO

    Total calculated
    $291,304
    From this org
    $274,268
    From related orgs
    $0
    Other
    $17,036
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $274,268
    Bonus
    $0
    Other
    $0
    Deferred
    $6,000
    Nontaxable benefits
    $11,036
    Filer's total
    $291,304

  • ELIZA GREENBERG

    PRESIDENT

    Total calculated
    $369,985
    From this org
    $342,703
    From related orgs
    $0
    Other
    $27,282
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $342,703
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $27,282
    Filer's total
    $369,985

  • GIA TRUONG

    MANAGING PARTNER, EQUITY & PROXIMITY

    Total calculated
    $283,473
    From this org
    $248,766
    From related orgs
    $0
    Other
    $34,707
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $248,766
    Bonus
    $0
    Other
    $0
    Deferred
    $6,000
    Nontaxable benefits
    $28,707
    Filer's total
    $283,473

  • MATRIKA BAILEY-TURNER

    CHIEF OF STAFF

    Total calculated
    $179,890
    From this org
    $169,016
    From related orgs
    $0
    Other
    $10,874
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $169,016
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $10,874
    Filer's total
    $179,890

  • DAVID LEVY

    SENIOR ADVISOR

    Total calculated
    $368,133
    From this org
    $359,965
    From related orgs
    $0
    Other
    $8,168
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $359,965
    Bonus
    $0
    Other
    $0
    Deferred
    $6,000
    Nontaxable benefits
    $2,168
    Filer's total
    $368,133

  • DEBORAH SMOLOVER

    MANAGING PARTNER,ED OF AMERICA FORWARD

    Total calculated
    $372,231
    From this org
    $338,948
    From related orgs
    $0
    Other
    $33,283
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $338,948
    Bonus
    $0
    Other
    $0
    Deferred
    $6,000
    Nontaxable benefits
    $27,283
    Filer's total
    $372,231

  • SHRUTI SEHRA

    MANAGING PARTNER,ECOSYSTEM BUILDING AND EDUCATION

    Total calculated
    $265,287
    From this org
    $248,261
    From related orgs
    $0
    Other
    $17,026
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $248,261
    Bonus
    $0
    Other
    $0
    Deferred
    $6,000
    Nontaxable benefits
    $11,026
    Filer's total
    $265,287

  • SHAWN DOVE

    MANAGING PARTNER,ECOSYSTEM BUILDING

    Total calculated
    $274,229
    From this org
    $245,522
    From related orgs
    $0
    Other
    $28,707
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $245,522
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $28,707
    Filer's total
    $274,229

  • DERREK SHULMAN

    PARTNER, SENIOR PHILANTHROPIC ADVISOR

    Total calculated
    $266,362
    From this org
    $231,658
    From related orgs
    $0
    Other
    $34,704
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $231,658
    Bonus
    $0
    Other
    $0
    Deferred
    $6,000
    Nontaxable benefits
    $28,704
    Filer's total
    $266,362

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

Answered no

  • 1b · Written policy on the line-1a expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1B
THE ORGANIZATION IS IN THE PROCESS OF CREATING AN EQUITABLE POLICY FOR THESE TYPES OF PURCHASES. THE PURCHASE WAS MADE TO ENHANCE CAPACITY FOR FUNDRAISING, DONOR CULTIVATION, AND EVENT HOSTING.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2024
Filed
15 July 2025
IRS schema version
2024v5.2
Source object
202541979349301529

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.