New Profit is a national venture philanthropy organization committed to advancing economic opportunity in America with a focus on equity. They invest in innovations, particularly those improving the education to employment pipeline and supporting economic mobility. New Profit emphasizes support for organizations that are in close touch with their communities to catalyze responsive, sustainable change. They prioritize expansive solutions addressing entrenched harms and ensuring future economic vitality for all, with a vision for direct, widespread, and systemic change through investments and ecosystem-building.
The Economic Mobility Catalyze Cohort by New Profit aims to support sixteen innovative nonprofit organizations with a focus on economic mobility across the United States, particularly uplifting Black, Indigenous, and Latinx leaders. Each selected nonprofit will receive $100,000 in unrestricted funding, capacity-building support, and inclusion in a peer learning community for one year. This grant program is tailored toward nonprofits engaged in a broad spectrum of economic mobility interventions, ranging from social drivers of employment, pathways to income generation, to financial health and wealth creation. Supported strategies may include increasing access to essential services, promoting skills-based hiring, and driving reparations or community ownership models, among others. In addition to financial support, New Profit's offering revolves around a collaborative support model that includes leadership coaching, expert consultations, organizational development, and refining impact models to achieve systemic change.
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