January 31, 2023 (BOSTON) – New Profit, one of the original venture philanthropy organizations—created by and for social entrepreneurs—today announced that Tulaine Montgomery will transition to become sole CEO of the organization starting on July 1, 2023. Montgomery and New Profit Founder Vanessa Kirsch served as co-CEOs for the past two years. 

Prior to serving as Co-CEO with Kirsch, Montgomery was a key architect of New Profit’s proximity strategy, and a driver of the $100M Proximate Capital Fund. Montgomery previously led initiatives at New Profit focused on strengthening pathways to opportunity for underserved youth, driving resources and support to entrepreneurs impacted by the American legal system, and building a more diverse, equitable, and inclusive organization and philanthropic sector. Earlier in her tenure she piloted accelerator programs at New Profit that eventually became the organization’s rapidly expanding Catalyze Investments portfolio. Montgomery was a member of the original ‘idea team’ that designed and helped launch New Profit in 1998.

“Tulaine is a remarkable leader who has inspired breakthrough innovation and deep impact through her bold vision, her bias for action, and her ability to bring people together in shared purpose,” said Jeff Walker, New Profit’s Board Chair. “We are thrilled to have an executive of her caliber and commitment leading New Profit and the broader philanthropic sector forward—especially at a moment when this nation needs both inspiration and action.”

Montgomery serves as the board chair for GirlTrek and on the boards of Beyond 12, College for Social Innovation, and Jitegemee. Her writing has been featured in Stanford Social Innovation Review, The Root, Worth Media, and more. She has a master’s in public policy from Tufts University and a bachelor’s degree from Smith College (full bio below). 

“As New Profit embarks on its 25th year, now is the right moment to evolve the leadership of the organization,” said Kirsch. “Tulaine is the right leader at the right time—I can think of no better person to grow and evolve New Profit’s unique multiracial, intergenerational, cross-sector community. Her leadership is what our sector and our country need right now.”

Kirsch founded New Profit in 1998 and quickly established the venture philanthropy organization as a sector leader. Under Kirsch’s leadership, the organization has pushed the philanthropic and social impact sectors toward greater impact through innovative models and cutting-edge solutions, reaching several milestones in the process:

• Raised over $500 million from individual and institutional philanthropists supporting social entrepreneurs and field-building work. 
• Expanded the organization to 74 employees with a national footprint and hubs in Boston, Washington, D.C., and New York.
• Launched a nonpartisan policy initiative, America Forward, which has unlocked over $1.9 billion in public financing for social innovation.
• Successfully advocated for breakthrough legislation including the Social Innovation Fund (SIF) and the Social Impact Partnerships to Pay for Results Act (SIPPRA)
• Shifted the way philanthropy supports social entrepreneurs, helping bring a wave of new leaders, donors, and solutions to the sector. 

“New Profit has created significant impact through its core work,” said Josh Bekenstein, New Profit Board Member. “I am grateful for Vanessa’s commitment and leadership over the past 25 years.”

Kirsch will remain Co-CEO through June and then will become Founder-in-Residence and a Senior Partner at New Profit. In her new role, she will engage with New Profit’s democracy-related investments, with a particular focus on the organization’s truth, justice, and reconciliation work across America. She will also continue her advisory work with philanthropists and social entrepreneurs.

“It’s been wonderful to watch Vanessa and Tulaine’s long-standing and complementary relationship as leaders,” said Mark Nunnelly, New Profit Board Member. “Their visionary leadership is as impressive as it is inspiring and I am excited for this next chapter with Tulaine at the helm.”

Kirsch and Montgomery began working together as volunteers 25 years ago and have been friends, colleagues, and disruptors ever since. Both are graduates of Cambridge Rindge and Latin high school and share not only local roots but a deep commitment to social justice and innovation. Among their many achievements together, one of the most consequential was their co-design of New Profit’s investment strategy focused on directing resources to leaders of color.

“It is an honor to become the CEO of New Profit, to have the chance to lead and support some of the most committed people in the social impact sector,” Montgomery said. “I am delighted that Vanessa will remain on the team to focus on her passion and her entrepreneurial roots.” 

During this transition, New Profit will celebrate its 25th anniversary, highlighting the organization’s accomplishments while sharing its vision for the next quarter century. 

 About New Profit

New Profit is a venture philanthropy organization that backs social entrepreneurs who are advancing equity and opportunity in America. New Profit exists to build a bridge between these leaders and a community of philanthropists who are committed to catalyzing their impact. New Profit provides unrestricted grants and strategic support to a portfolio of organizations led by visionary social entrepreneurs to increase their impact, scale, and sustainability. It also partners with social entrepreneurs and other cross-sector leaders to shift how government and philanthropy pursue social change to ensure that all people can thrive. Since its founding in 1998, New Profit has invested over $350M in 200+ organizations and, through the America Forward Coalition’s collective advocacy efforts, has unlocked over $1.9B in government funding for social innovation. Learn more at www.newprofit.org.

Media inquiries:

Nikhil Gehani

Partner, Communications 

nikhil_gehani@newprofit.org

+12483881630

Tulaine Montgomery Bio

Tulaine Montgomery is an entrepreneur, educator, writer, and organizer. She has played leadership roles in the launch and expansion of social enterprises across the U.S., the Caribbean, East Africa, Indonesia, and South Africa.

Tulaine currently serves as Co-CEO of New Profit, a venture philanthropy organization that backs visionary leaders who are scaling innovations and transforming our nation’s most important and often inequitable systems. During her time at New Profit, Tulaine has led initiatives focused on strengthening education-to-employment pathways for underserved youth, driving resources and support to entrepreneurs who have been directly impacted by the American legal system, and building a more diverse, equitable, and inclusive organization and philanthropic sector.

Tulaine has also served as the lead architect of New Profit’s Inclusive Impact strategy and Proximate Capital fund, which seeks to bridge the resource gap faced by Black, Latine/x, Indigenous, rural, and other underinvested social entrepreneurs.

Prior to New Profit, Tulaine was Founder and President of New Resource Strategies (NRS), a consulting firm that enabled mission-driven organizations to address major operational, fiscal, and strategic challenges. Among Tulaine’s clients were the United Nations, Harvard University, Boston University, the National Urban League, and others. Prior to launching NRS, Tulaine served as Vice President of Community Impact with United Way Massachusetts Bay & Merrimack Valley providing strategic vision and leadership for all community and policy-related activities in the areas of affordable housing, sustainable employment, asset building, financial education, and basic needs. She also served as the National Director of Graduate and Youth Opportunities and the Manager of the National Schools Initiative (NSI) at YouthBuild USA, where she oversaw a portfolio of initiatives designed to help low-income youth successfully enter college and the 21st century workforce.  

Outside of New Profit, Tulaine is also a trusted advisor to nonprofit organizations and socially responsible companies, providing strategic and financial support to many of our nation’s most breakthrough and promising social innovations. She currently serves as Board Chair for GirlTrek, the largest public health nonprofit for African-American women and girls in the nation. Tulaine’s other board positions include Beyond 12, YouthBuild, College for Social Innovation, and Jitegemee (a youth-serving organization in Kenya).

Tulaine’s writing has been featured in Stanford Social Innovation Review, The Root, Worth Media, and more. She is featured in “Portraits of Purpose: A Tribute to Leadership,” a visual chronicle and historic narrative of community leaders. In 2020, Tulaine co-authored a research report on equity in philanthropy in partnership with Next Street, “Transforming the Social Sector: The Opportunity and Need for Action.” She received an Innovator of Color award at the 2021 ASU+GSV Summit, and was recognized as the 2021 Social innovator of the Year by the University of New Hampshire.

Tulaine is the Host and Executive Producer of “Say More: Live Conversations with Tulaine,” an Instagram Live virtual “salon” where people of different identities and experiences explore what it would take to build a world that works for everyone.  

Tulaine has a master’s in public policy from Tufts University and a bachelor’s degree from Smith College. With a lifelong passion for the arts, Tulaine is an experienced cellist and writer; she has written and produced five original plays.