New Profit and Deloitte Announce a New Strategic Collaboration To Drive Social Innovation
New York, June 19, 2013 — New Profit Inc. and Deloitte today announced a multi-million dollar collaboration to help fuel the social innovations that are dramatically improving opportunities for children, families, and communities. This initiative will support the growth and increase the impact of groundbreaking solutions in areas such as education, workforce development, public health, and community development/poverty alleviation.
"Deloitte is one of the most philanthropically-minded organizations in the world and we are so proud to be working with them,” said Tripp Jones, managing director, New Profit. "By leveraging the best of what both organizations have to offer, our collaboration will significantly enhance our ability to drive innovation, outcomes and scale in the social sector. We are so grateful to have the opportunity to work with and benefit from Deloitte's world-class resources."
New Profit, a national social innovation organization and venture philanthropy fund headquartered in Boston, has worked side-by-side for more than a decade with the consulting firm Monitor Group, which was acquired by Deloitte Consulting LLP in January. Over recent months Deloitte has leveraged the deep experience of both organizations and has provided pro bono consulting services to New Profit and its portfolio of organizations. Going forward, New Profit and Deloitte will continue to jointly pursue a number of efforts to advance the field of social innovation and social entrepreneurship.
Vanessa Kirsch, New Profit's founder and managing director commented, "We are so thrilled to be collaborating with Deloitte. We knew Deloitte was a trailblazer in the arena of corporate philanthropy, pro bono services, and social innovation, but as we've come to know them better throughout the last few months, we've been delighted to discover our impression didn't begin to compare to the even better reality. It's very apparent that Deloitte and its people are deeply dedicated to community involvement and are fundamentally committed to improving life and opportunity for all people. For New Profit to be one of the vehicles through which this commitment is expressed is an incredible honor."
"We look forward to building on the tremendous achievements that Monitor Group and New Profit have accomplished over the past decade," added Mike Canning, principal, Deloitte Consulting LLP and national managing director for Deloitte's strategy & operations practice. "Deloitte strongly believes that one of the best ways we can drive social change is to do what we do best every day — provide our services and intellectual capital to solve urgent challenges. The New Profit and Deloitte relationship exemplifies a powerful public-private model to address community needs."
As part of the collaboration Deloitte will provide strategic advisory services for New Profit Inc., and its portfolio organizations. The pro bono work with New Profit is part of Deloitte's commitment to provide $60 million in pro bono services to nonprofit organizations over a three-year period (FY2012-2014). Deloitte, one of the largest professional services organizations in the U.S., is investing the time and talent of its people to strengthen communities across the country. The $60 million pledge, committed in April 2012, brought the organization's total investment to more than $110 million.
Steve Jennings, former managing partner of Monitor Group, New Profit board member, and now a principal in Deloitte Consulting LLP's strategy & operations practice said, "The relationship we have with New Profit is based on years of effective teaming and a shared mission to improve lives and social outcomes. We are thrilled to continue this relationship and we are proud to have the opportunity to provide our strategic advisory services to a nonprofit as impactful, innovative, and deserving as New Profit."
About New Profit Inc.
Founded in 1998, New Profit is a nonprofit social innovation organization seeking to increase social mobility by strengthening, connecting and amplifying the best ideas across the nation. With our signature partners and a network of philanthropists, we invest in a portfolio of social entrepreneurs, grow their impact, and drive systemic change in education, workforce development, public health, community development/poverty alleviation, and other levers of opportunity. Through our annual Gathering of Leaders and cross-portfolio forums, we connect social entrepreneurs with cross-sector leaders and build communities that amplify bold visions and systems-changing agendas that fuel social innovation. Through America Forward, our public policy platform, these communities drive policy agendas that forge public/private partnerships to accelerate their impact. For more information about New Profit, visit http://www.newprofit.com or contact Libby Berke at firstname.lastname@example.org
About Deloitte's Impact Imperative
Deloitte helps its communities thrive in three ways:
Mission Catalysts – Our people-powered initiatives wherein Deloitte talent and their knowledge and skills are essential accelerators of social change.
Center for Impact – Company-driven signature issues and strategic programs leveraging Deloitte's talent, resources and leadership to create meaningful change.
Impact2 - Measuring, demonstrating and socializing the impact of our commitments, advocacy, outcomes and leadership.
As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.