Deloitte announced a multi-million dollar collaboration with New Profit Wednesday to fuel the Boston-based national social innovation organization and venture philanthropy fund’s work in education, workforce development, public health and community development.
New Profit has worked for more than a decade with consulting firm Monitor Group, acquired by Deloitte Consulting in January. Since then, Deloitte has been providing New Profit and its portfolio of organizations with pro bono consulting services, which will now be cemented into a collaboration between the two to advance the fields of social innovation and social entrepreneurship.
"Deloitte is one of the most philanthropically-minded organizations in the world and we are so proud to be working with them," said New Profit managing director Tripp Jones in a statement. "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."
Deloitte will continue to provide strategic advisory services for New Profit and its portfolio organizations, with its pro bono work part of the Big Four’s commitment to provide $60 million in pro bono services to nonprofit organizations over a three-year period from 2012-14. Committed in April 2012, the pledge brought Deloitte’s total community investments to more than $110 million.
"We are so thrilled to be collaborating with Deloitte,” stated Vanessa Kirsch, New Profit's founder and managing director. “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.”
"We look forward to building on the tremendous achievements that Monitor Group and New Profit have accomplished over the past decade," stated Mike Canning, principal of Deloitte Consulting 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."