Partner, Portfolio Team

New Profit

Sector:

Foundations / Philanthropy, Social Enterprise / Social Entrepreneurship

Function:

General Management / Strategic Planning

Location:

Flexible

About the Organization

New Profit is a nonprofit venture philanthropy organization that backs breakthrough social entrepreneurs who are advancing equity and opportunity in America. New Profit's strategy focuses on building a breakthrough portfolio of grantee-partners to take on entrenched systemic challenges in America, including by driving resources and support to Black, Indigenous, and Latino/a/x social entrepreneurs who have unique proximity to solutions, but face stark racial funding disparities in philanthropy; and investing in social entrepreneurs with new systems change models across a range of issues. Learn more at www.newprofit.org.

As part of New Profit's focus on economic mobility and building equitable systems, the Postsecondary Innovation for Equity (PIE) 2 Initiative will invest in a set of proximate entrepreneurs and organizations who are aiming to reshape the education to employment system in America so that our recovery from the COVID-19 pandemic is equitable, and the economy of the future works for everyone.

At a time when the cries for racial justice are swelling with urgency, American education and workforce systems remain stuck in a model that perpetuates white privilege and fails to provide millions of Black, Latino/a/x, Hispanic, and Indigenous (BLHI) young people with pathways to economic mobility. At the same time, the success of the post-COVID economic recovery depends on better preparing people from all backgrounds for the job opportunities of today and tomorrow.

In response to these challenges, social entrepreneurs are emerging to design new, agile, cost-effective forms of education that are meeting the needs of students and employers alike. These innovators are forging tight partnerships with employers, providing valuable wraparound services, and attending to social capital as well as technical skill development. Some of them are achieving remarkable results, demonstrating program completion and wage growth rates that are double or triple that of established postsecondary providers while simultaneously reducing expenses and student debt.

Investing and Capacity Building at New Profit

New Profit stands shoulder-to-shoulder with social entrepreneurs in support of their vision, with a specific focus on helping them build the capacity of their organizations in four areas: 1) Impact 2) Equity & Proximity, 3) Adaptive Leadership, and 4) Sustainability. We provide two levels of funding and strategic support to organizations in our portfolio: "Build Investments" and "Catalyze Investments."

  • Catalyze Investments: Though our Catalyze Investments, we provide $50K-$100K unrestricted grants, strategic advice, and a peer learning community over one to two years (through a cohort-based model) to catalyze the innovations of organizations with leaders and focus areas that have been historically underinvested in by philanthropy.

  • Build Investments: through our Build Investments, we provide grantee-partners a $1M+ multi-year, unrestricted grant and deep advisory support. A dedicated New Profit "Deal Partner" serves as a trusted advisor to the social entrepreneur and as a member of the organization's board of directors. Our support is geared towards building the leadership capacity of social entrepreneurs, boards, and senior teams and their ability to make strategic choices as they navigate change and growth.

About the Position

New Profit seeks to hire a "Deal Partner" - a senior leader on our Portfolio Investing team directly working with our Build-level grantee-partners. The New Profit Deal Partner is the linchpin to our capacity building support model for our Build investments. This position is for a Deal Partner who would be responsible for managing a small portfolio of "PIE investments" including providing direct advisory support to several of the organizations as well as driving a learning community among the entire cohort of organizations.

The Deal Partner assumes four critical roles relative to each of the investments they manage:

  • Strategic Advisor & Project Lead:

    • Establish a strong and trusting partnership with the social entrepreneur, supporting them in achieving their vision for impact
    • Share New Profit's perspective, insights and pattern recognition on issues related to organizational growth, impact, and capacity building
    • As necessary, take on project leadership in discrete strategic planning efforts in collaboration with the CEO and Senior Team
  • Leadership Coach:

    • Coaching the social entrepreneur, and as needed, other senior team and board members to understand their professional development needs and help them unlock their capacity for learning and adaptability and to lead organizations that embody these values
  • Board Member:

    • Support and govern the organization as outlined in its Board Charter and following best practices
    • Fulfill your fiduciary role and protect the public interest of the organization
    • Support the effectiveness of the Board's leadership and governance using New Profit's
    • Board Development Theory
    • Represent the organization in the broader community
  • New Profit Funder & Investor Steward:

    • Provide fiduciary oversight over the grantee-partner's financial wellbeing
    • Communicate New Profit's expectations and needs as a Funder transparently to the portfolio organization
    • Provide regular Deal Management updates such as Deal Dashboards and work plans, annual diagnostics, and other internal deal tracking activities.
    • Actively participate in New Profit's Deal Partner activities and be a supportive member of the Deal Partner community, e.g., attend Deal Consult Days

As a part of our PIE cohort, New Profit will convene the five PIE deals in a regular learning cohort over the course of the four year investment. The PIE Lead partner will:

  • PIE Learning Community Leader

    • Design the overarching goals of and individual sessions for the PIE learning community including a mix of virtual and in person organizational capacity building sessions
    • Cultivate strong relationships with the full set of PIE organizations and gather regular feedback to inform the design of the learning community
    • Work in partnership with our Portfolio Equity Lead and a PIE Manager to do the above In addition to their core responsibilities as a Deal Partner, the successful individual should also anticipate involvement in other activities including:
  • Investment Selection: lead screening and diligence for prospective investments; provide support and insight throughout the decision-making process; and assess organizations on leadership, impact, scalability, and overall fit.

  • Firm Internal Initiative Leadership: expanding capacity building practice and/or cross cutting priority firm projects

Candidate Requirements:

  • The ideal candidate will possess the following qualifications:
  • Demonstrated passion for and commitment to New Profit's mission
  • Demonstrated experience with and commitment to centering equity, supporting marginalized communities, and disrupting systems of oppression in your work and your ways of working
  • A successful track record of management positions of increasing complexity and responsibility
  • Experience leading teams and bringing a solutions-driven approach to complex projects in an entrepreneurial environment; ability to set goals and priorities, facilitate decisions, and manage others and resources efficiently
  • Deep experience advising and supporting CEOs / Executives in achieving their vision (strategy, leadership, operations, etc.)
  • Experience in the following areas are a plus, but are not required: economic mobility, college access and success, workforce development, etc.
  • Demonstrated experience building and managing professional relationships and coaching and developing talent; a collegial and team-building approach that puts others at ease and engenders trust
  • An eagerness to "roll up one's sleeves" and take on the full range of activities required to support the efforts of the team
  • An action orientation, with an ability to balance initiative with collaboration
  • Excellent verbal and written skills, with the ability to represent New Profit and its portfolio organizations in a professional, engaging, and dynamic manner
  • Entrepreneurial mindset and an ability to design and execute consistently on innovations, processes and practice areas
  • Illustrative list of roles often held by Deal Partners prior to New Profit: Social Entrepreneur, Management Consultant, Philanthropist, and Seasoned Executive

Compensation and benefits:

New Profit offers a competitive salary and benefits, commensurate with experience and skills.

As an equal opportunity employer, New Profit recognizes the power of a diverse community and strongly encourages applications from individuals with varied experiences, perspectives, and backgrounds. The more inclusive we are, the better our work will be.

On-Ramps is deeply committed to diversity, equity, and inclusion. We believe social change happens when people with a wide range of backgrounds, experiences, and identities come together with a common purpose. We encourage candidates from all backgrounds to apply.

On-Ramps is committed to the inclusion of all qualified individuals in the hiring process, including but not limited to those with disabilities. If you require reasonable accommodation(s) to participate in the application or interview process, please contact info@on-ramps.com.