Overview
What is Compass Working Capital Inc?
Compass Working Capital Inc is a nonprofit organization dedicated to eradicating asset poverty and narrowing wealth disparities among families with low incomes, with a particular focus on those led by Black and Latina women. Since 2010, they have partnered with public housing agencies and affordable housing providers to develop and implement an asset-building and financial capability model for the Family Self-Sufficiency (FSS) program, overseen by the U.S. Department of Housing and Urban Development (HUD). This program aims to incentivize residents of federally subsidized housing to increase their income by allowing them to save a portion of their increased rent payments, thereby promoting financial mobility and security. The Compass FSS model integrates financial coaching and other asset-building strategies into the FSS program and is currently offered in several states, including Massachusetts, Connecticut, Pennsylvania, Rhode Island, Missouri, and Washington, D.C. The organization operates client-centered savings and financial coaching programs, delivers training and technical assistance to other practitioners, and advocates for policy solutions that dismantle barriers to asset building.
Official website here: www.compassworkingcapital.org
Is Compass Working Capital Inc legitimate?
Compass Working Capital Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Compass Working Capital Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $401,750
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,338,652
For more financial information, click here
Official website here: www.compassworkingcapital.org
What is the mission statement of Compass Working Capital Inc?
Compass Working Capital Inc is committed to addressing asset poverty among families with low income, particularly those led by Black and Latino women. Their mission is to serve as a partner, helping these families build assets as a means to escape poverty. They operate client-focused savings and financial coaching programs to achieve this goal. Additionally, Compass delivers training and technical assistance to other practitioners in the field, and advocates for policy solutions that dismantle barriers to asset building, aiming to narrow the racial and gender wealth divides.
Official website here: www.compassworkingcapital.org
Who is the CEO of Compass Working Capital Inc?
Markita Morris-Louis is the President/Ceo (Until 12/21) of Compass Working Capital Inc. The CEO's salary of Compass Working Capital Inc is $145,126 and their total compensation is $157,777.
Official website here: www.compassworkingcapital.org
What is the revenue of Compass Working Capital Inc?
Compass Working Capital Inc's revenue in 2022 was $6,912,729.
Official website here: www.compassworkingcapital.org
Who are the executives of Compass Working Capital Inc and what are their salaries?
The average compensation at Compass Working Capital Inc during 2022 was $61,318. There are 61 employees and 35 volunteers at Compass Working Capital Inc.
Here are 16 key members and their salaries (Compass Working Capital Inc's CEO's salary is $145,126 and their total compensation is $157,777):
- Sharon E Riva (President/Ceo (Until 12/21)) [Trustee/Director]
- Markita Morris-Louis (Pres/Ceo(As Of 1/22)/Treas(4/22-7/22)) [Trustee/Director]
- James Stuart (Chief Dev. And Comm. Offic)
- Crystal Murphy (Treasurer/Cfo (Until 1/22))
- Ann Lentell (Chief Program Officer)
- Precillia Redmond (Chairperson) [Trustee/Director]
- Scott Carmel (Director)
- Meaghan Mccarthy (Director)
- Omar Woodard (Director)
- Lisa Jackson (Director)
- Thea James (Director)
- Lidiane Jones (Director)
- Asha Mehta (Director)
- Maureen Fitzgerald (Director (Until 10/2021))
- Kimberly Monty Holzel (Clerk)
- Jalynne Santiago (Cfao/Treasurer (As Of 6/22))
Official website here: www.compassworkingcapital.org
Where can I find the form 990 for Compass Working Capital Inc?
The Compass Working Capital Inc’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.compassworkingcapital.org
Learn more at the official website: www.compassworkingcapital.org
Mission Statement of Compass Working Capital Inc
Compass Working Capital Inc, an organization dedicated to addressing asset poverty among families with low incomes, aims to narrow the racial and gender wealth divides. Their mission is to collaborate with these families, particularly those led by Black and/or Latina women, to construct assets as a means of escaping poverty. To accomplish this objective, Compass operates client-focused savings and financial coaching programs. They also provide training and technical assistance to other practitioners, and they advocate for policy solutions that dismantle barriers to asset building. In essence, Compass Working Capital Inc is committed to empowering families with low incomes, focusing on those from underrepresented racial and gender backgrounds, by offering tailored financial guidance and advocating for policies that break down barriers to asset accumulation.
Impact
This information is meant to be a general summary of Compass Working Capital Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Compass Working Capital Inc's impact is significant in the realm of asset poverty alleviation for families with low incomes. By focusing on partnering with families led by Black and/or Latinx women, Compass is actively working to narrow the racial and gender wealth divides. Their Family Self-Sufficiency (FSS) program, developed and implemented since 2010, provides a unique asset-building and financial capability model within the historically underutilized FSS program overseen by the U.S. Department of Housing and Urban Development (HUD).
Through the Compass FSS program, participants have the opportunity to capture their increased rent payments in a savings account, held by the housing provider, which can be accessed upon program completion. This innovative approach integrates financial coaching and other asset-building strategies, aiming to promote economic mobility and financial security for participating families. This program has attracted attention locally and nationally as a scalable model to support families with low incomes in building assets, achieving their goals, and improving their financial stability.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FINANCIAL COACHING
Revenue
$1,776,149
SUBSCRIPTION REVENUE
Revenue
$86,421
Organization Details
Founding Year
2005
Phone
(617) 790-0810
Principal Officer
Markita Morris-Louis
Main Address
89 SOUTH STREET 804, BOSTON, MA, 02111
NTEE Category
Code: Z99 - Unknown
If you are a representative of Compass Working Capital Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.