Organizations Filed Purposes:
COMPASS WORKING CAPITAL ("COMPASS") PROVIDES SAVINGS AND FINANCIAL COACHING PROGRAMS THAT SUPPORT FAMILIES WITH LOW INCOMES TO BUILD ASSETS, ACHIEVE THEIR FINANCIAL GOALS, AND BECOME FINANCIALLY SECURE. OUR BROADER VISION IS TO BUILD A LEADING, NONPROFIT FINANCIAL SERVICES ORGANIZATION THAT PROMOTES ECONOMIC MOBILITY AND FINANCIAL SECURITY FOR FAMILIES WITH LOW INCOMES BY INFLUENCING FIELD-RELATED PRACTICE AND POLICY.
FAMILY SELF-SUFFICIENCY (FSS) PROGRAM:SINCE 2010, COMPASS HAS PARTNERED WITH PUBLIC HOUSING AGENCIES AND PRIVATE OWNERS OF AFFORDABLE HOUSING TO DEVELOP AND IMPLEMENT AN ASSET-BUILDING AND FINANCIAL CAPABILITY MODEL FOR THE FAMILY SELF-SUFFICIENCY ("FSS") PROGRAM, A HISTORICALLY UNDERUTILIZED SAVINGS AND EMPLOYMENT PROGRAM OVERSEEN BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD"). CONGRESS ESTABLISHED THE FSS PROGRAM IN 1990 AS AN EMPLOYMENT AND SAVINGS PROGRAM FOR RESIDENTS OF FEDERALLY SUBSIDIZED HOUSING. FAMILIES RECEIVING THIS ASSISTANCE TYPICALLY PAY 30% OF THEIR INCOME TOWARD RENT. THIS STRUCTURE INADVERTENTLY DISCOURAGES SOME RESIDENTS FROM INCREASING THEIR WORK HOURS AND EARNINGS SINCE THEY WORRY ABOUT PAYING MORE RENT AND LOSING OTHER BENEFITS IF THEIR INCOME INCREASES. THE FSS MODEL REMOVES THIS DISINCENTIVE BY ALLOWING PARTICIPANTS TO CAPTURE THEIR INCREASED RENT PAYMENTS IN A SAVINGS ACCOUNT, HELD BY THE HOUSING PROVIDER, WHICH CAN BE ACCESSED UPON COMPLETION OF THE PROGRAM. PARTICIPANTS CAN UTILIZE THEIR SAVINGS TO ACHIEVE THEIR FINANCIAL GOALS.THE COMPASS FSS MODEL INTEGRATES FINANCIAL COACHING AND OTHER ASSET BUILDING STRATEGIES INTO THE FSS PROGRAM, WITH THE GOAL OF PROMOTING ECONOMIC MOBILITY AND FINANCIAL SECURITY FOR PARTICIPATING FAMILIES. THE FIRST MODEL OF ITS KIND IN THE COUNTRY, THE COMPASS FSS PROGRAM IS CURRENTLY OFFERED THROUGH PARTNERSHIPS WITH PUBLIC HOUSING AUTHORITIES AND NONPROFIT HOUSING ORGANIZATIONS IN MASSACHUSETTS, CONNECTICUT, PENNSYLVANIA, AND RHODE ISLAND. THE COMPASS FSS PROGRAM HAS ATTRACTED LOCAL AND NATIONAL ATTENTION AS A SCALABLE, HOUSING-BASED MODEL TO SUPPORT FAMILIES WITH LOW INCOMES TO BUILD ASSETS, ACHIEVE THEIR GOALS, AND BECOME MORE FINANCIALLY SECURE.
FINANCIAL COACHING PROGRAMS:COMPASS PROVIDES CONTRACT-BASED FINANCIAL COACHING PROGRAMS TO HELP OTHER COMMUNITY ORGANIZATIONS INTEGRATE ASSET BUILDING INTO THEIR WORK. THESE PROGRAMS ALSO PROVIDE AN ADDITIONAL EARNED REVENUE STREAM FOR THE ORGANIZATION.
NATIONAL FIELD-BUILDING:SINCE 2016, COMPASS HAS ALSO WORKED TO BUILD THE FIELD OF FSS PRACTITIONERS AND OTHER STAKEHOLDERS NATIONALLY. CURRENTLY, THE ORGANIZATION MANAGES AN ONLINE LEARNING PLATFORM AND COMMUNITY CALLED COMPASS FSS LINK, WHICH PROVIDES FSS PRACTITIONERS WITH ACCESS TO RESOURCES FOR FSS PROGRAM MANAGEMENT AND FINANCIAL COACHING, TRAINING, AND OPPORTUNITIES TO CONNECT WITH OTHER FSS PRACTITIONERS ACROSS THE COUNTRY. COMPASS HAS ALSO HOSTED A NATIONAL FSS CONFERENCE FOR THE PAST FOUR YEARS.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Sharon E Riva | PRESIDENT/CEO | 40 | $184,338 |
| Ann Lentell | CHIEF PROGRAM OFFICER | 40 | $106,430 |
| Betty Francisco | GENERAL COUNSEL | 30 | $106,218 |
| Crystal Murphy | CHIEF FINANCIAL OFFICER | 40 | $86,951 |
| Kimberly Monty Holzel | CLERK | 0.5 | $0 |
| Ann Quandt | TREASURER | 0.5 | $0 |
| Precillia Redmond | BOARD MEMBER | 0.5 | $0 |
| Maureen Fitzgerald | BOARD MEMBER | 0.5 | $0 |
| Omar Woodard | BOARD MEMBER | 0.5 | $0 |
| Meaghan Mccarthy | BOARD MEMBER | 0.5 | $0 |
| Asha Mehta | BOARD MEMBER | 0.5 | $0 |
| Scott Carmel | CHAIRPERSON | 0.5 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202023569349300967_public.xml