NonprofitsCompass Working Capital Inc

Compass Working Capital Inc

BOSTON, MA

Total revenue

$17.6M

Total expenses

$9.1M

Net assets

$17.0M

Grants received

$28.0M

132 grants

EIN

203975100

Tax year

2023

Mission

Compass working capital ("compass") is working to end asset poverty for families with low incomes and narrow the racial and gender wealth divides. Our mission is to partner with families with low incomes to build assets as a pathway out of poverty. We focus on reaching families led by black and/or latinx women. To achieve our mission, we operate client-centered savings and financial coaching programs, deliver training and technical assistance to other practitioners, and shape policy solutions that dismantle barriers to asset building.

Programs

2 programs

National field-building, training, and technical assistance:the fss program has the potential to reach an estimated 2.2 million households nationally, yet only a tiny subset less than 3% of eligible households are currently able to take advantage of the program. Since 2016, compass has also worked to build the field of fss practitioners and other stakeholders nationally and share out our best practices to expand the scope and impact of fss. Currently, the organization manages an online learning platform and community called 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 also provides training and technical assistance on its model for the fss program to housing providers who want to improve the quality of their existing programs or launch new ones. Compass also hosts a biennial national conference on the fss program.

Expenses: $778K

Systems and policy change:to deliver on our mission and fully support families to reach their financial goals, compass combines direct service and field-building with work on broader systems and policy change. Our focus is largely on issues related to expanding the scope and impact of the fss program, as well as other priorities related to our mission to end asset poverty and narrow the racial and gender wealth divides. In order to carry out this work, we educate public officials, legislators, and policymakers at the national, state, and local levels, and play an active role in coalitions, groups, advocacy efforts, and informal networks that align with our mission and vision and enable us to help promote promising ideas, practices, and policies. We also work to elevate the voices and lived experiences of our clients to influence systems and policy change.

Expenses: $573KGrants: $165K

Financials

FY 2023

Revenue

Contributions & grants$13.8M
Program service revenue$3.3M
Investment income$458K
Other revenue$4K
Total revenue$17.6M

Expenses

Grants paid$165K
Salaries & benefits$6.7M
Fundraising$634K
Other expenses$2.3M
Total expenses$9.1M
Total assets$18.5M
Net assets$17.0M

People

15 listed

NameRoleCompensation

MARKITA MORRIS-LOUIS

PRESIDENT/CEO

Board

$193K

40 hrs/wk

JALYNNE SANTIAGO

CFO/TREASURER

Board

$141K

40 hrs/wk

KAREN WALLACE

DIRECTOR

Board

0.5 hrs/wk

SHARON E RIVA

BOARD MEMBER/CHAIRPERSON (AS OF 9/24)

Board

0.5 hrs/wk

KIMBERLY MONTY HOLZEL

CLERK

Board

0.5 hrs/wk

HEATHER WELLINGTON

DIRECTOR

Board

0.5 hrs/wk

PRECILLIA REDMOND

CHAIRPERSON (UNTIL 9/24)

Board

0.5 hrs/wk

SCOTT CARMEL

DIRECTOR

Board

0.5 hrs/wk

MEAGHAN MCCARTHY

DIRECTOR

Board

0.5 hrs/wk

OMAR WOODARD

DIRECTOR

Board

0.5 hrs/wk

THEA JAMES

DIRECTOR

Board

0.5 hrs/wk

CARTER MCCLURE

CHIEF STRATEGY OFFICER

Staff

$144K

40 hrs/wk

MCKINSEY ALSTON

CHIEF HUMAN RESOURCES OFFICER

Staff

$139K

40 hrs/wk

JAMES STUART

CHIEF EXTERNAL AFFAIRS OFFICER

Staff

$126K

40 hrs/wk

MORIAH GARCIA NELSON

DIR. OF PROGRAMS/CHIEF PROGRAM OFFICER

Staff

$102K

40 hrs/wk

Independent contractors

NXTSTEP CONSULTING LLC

CONSULTANT

$382K

Grants received

Showing 132 of 132

FromAmountPurposeYear
$3M
COMMUNITY & HUMAN SERVICES
2024
$150K
STRATEGIC PLAN
2024
$120K
TO PROMOTE THE WORK OF THE ORGANIZATION
2024
$100K
GENERAL USE
2024
$30K
Unrestricted donation
2024
$20K
GENERAL SUPPORT
2024
$20K
PHILADELPHIA FSS PROGRAM
2024
$15K
PROGRAM ASSISTANCE
2024
$10K
UNRESTRICTED GENERAL SUPPORT
2024
$8K
EXPANDING ACCESS TO COMPASS FSS PROGRAMS IN GREATER BOSTON
2024
$5.4M
TO SUPPORT STRATEGIC PLANNING
2023
$1M
IN SUPPORT OF FINANCIAL HEALTH
2023
$450K
STRATEGIC PLANNING
2023
$291K
For grant recipient's exempt purposes
2023
$167K
GENERAL USE
2023
$100K
TO PROMOTE THE WORK OF THE ORGANIZATION
2023
$75K
Community Impact
2023
$50K
CHARITABLE CONTRIBUTION UNRESTRICTED
2023
$32K
FOR RECIPIENT'S EXEMPT PURPOSE
2023
$20K
ECONOMIC EMPOWERMENT FOR FAMILIES LED BY BLACK AND/OR LATINX WOMEN
2023
$20K
EXPANDING ACCESS TO COMPASS FSS IN GREATER BOSTON
2023
$20K
Expanding Access to Compass FSS in Philadelphia
2023
$15K
ECONOMIC SECURITY
2023
$12K
GENERAL PURPOSE
2023
$10K
GENERAL PURPOSES
2023
$10K
HUMAN SERVICES
2023
$10K
EXPANDING ACCESS TO COMPASS FSS PROGRAMS IN GREATER BOSTON
2023
$5K
EXPANDING ACCESS TO COMPASS FSS PROGRAMS
2023
$2K
EXEMPT PURPOSE
2023
$2K
GENERAL CHARITABLE SUPPORT
2023
$50
OTHER CIVIC / COMMUNITY
2023
$4.3M
TO SUPPORT STRATEGIC PLANNING
2022
$2M
Civic Life
2022
$376K
FOR RECIPIENT'S EXEMPT PURPOSE
2022
$234K
For grant recipient's exempt purposes
2022
$167K
GENERAL USE
2022
$72K
Operating Support/Annual Fund
2022
$71K
TO IDENTIFY WAYS TO EXTEND THE REACH OF CWC'S FAMILY SELF-SUFFICIENCY PROGRAMME. TO DO SO, IT WILL FACILITATE IN-DEPTH QUANTITATIVE AND QUALITATIVE RESEARCH ON THE INCLUSION OF YOUNGER PARENTS, SINGLE PEOPLE AND UNDER-REPRESENTED ETHNIC COMMUNITIES. CWC IS A NOT-FOR-PROFIT ORGANISATION THAT PROVIDES SAVINGS AND FINANCIAL COACHING PROGRAMMES TO SUPPORT LOW-INCOME FAMILIES TO: BUILD ASSETS; ACHIEVE THEIR FINANCIAL GOALS; AND BECOME MORE FINANCIALLY SECURE.
2022
$55K
Financial Coaching and public housing assistance
2022
$50K
COMMUNITY
2022
$25K
IMPACT-EXPANDING ACCESS TO THE COMPASS FSS PROGRAM IN PHILADELPHIA
2022
$20K
GENERAL OPERATING SUPPORT (DONOR FUND)
2022
$20K
HUMAN SERVICES
2022
$15K
EXPANDING ACCESS TO FSS IN BOSTON PROGRAM
2022
$11K
GENERAL PURPOSE
2022
$10K
GENERAL SUPPORT
2022
$10K
GENERAL SUPPORT
2022
$10K
HUMAN SERVICES
2022
$10K
GENERAL PURPOSES
2022
$5K
UNRESTRICTED
2022
$51
EXEMPT PURPOSE
2022
$500K
Civic Life
2021
$500K
TO SUPPORT STRATEGIC PLANNING
2021
$350K
IN SUPPORT OF FINANCIAL HEALTH
2021
$200K
IN SUPPORT OF FINANCIAL HEALTH
2021
$107K
For grant recipient's exempt purposes
2021
$107K
For grant recipient's exempt purposes
2021
$75K
TO PROMOTE THE WORK OF THE ORGANIZATION
2021
$54K
Operating Support/Annual Fund
2021
$50K
IN SUPPORT OF FINANCIAL HEALTH
2021
$50K
Housing and Shelter
2021
$26K
HUMAN SERVICES
2021
$25K
GENERAL OPERATING SUPPORT (DONOR FUND)
2021
$25K
For recipient's exempt purpose
2021
$10K
GENERAL CONTRIBUTION
2021
$10K
GENERAL PURPOSES
2021
$7K
GENERAL PURPOSE
2021
$5K
UNRESTRICTED
2021
$560K
IN SUPPORT OF FINANCIAL HEALTH
2020
$500K
SAVINGS AND FINANCIAL RESILIENCY
2020
$275K
FOR RECIPIENT'S EXEMPT PURPOSE
2020
$254K
CONSULTING
2020
$167K
GENERAL USE
2020
$162K
For grant recipient's exempt purposes
2020
$150K
GENERAL SUPPORT
2020
$65K
Operating Support/Annual Fund
2020
$50K
Housing and Shelter
2020
$50K
TO HELP BRING THE BENEFITS OF FINANCIAL TECHNOLOGY (FINTECH) SOLUTIONS TO ITS CLIENTS.
2020
$10K
Low income assistance through financial coaching,
2020
$10K
Community Impact
2020
$10K
GENERAL CONTRIBUTION
2020
$7K
PROGRAM ASSISTANCE
2020
$6K
GENERAL PURPOSE
2020
$5K
UNRESTRICTED GENERAL SUPPORT
2020
$5K
UNRESTRICTED
2020
$679K
For grant recipient's exempt purposes
2019
$410K
IN SUPPORT OF FINANCIAL HEALTH
2019
$250K
Civic Life
2019
$50K
Housing and Shelter
2019
$25K
COMPASS FAMILY SELF-SUFFICIENCY PROGRAM IN PHILADELPHIA
2019
$11K
Operating Support/Annual Fund
2019
$10K
GRANT FOR EXPANDING ACCESS
2019
$10K
Community Impact
2019
$7K
PUBLIC, SOCIETAL BENEFIT
2019
$3K
UNRESTRICTED
2019
$646K
For grant recipient's exempt purposes
2018
$250K
IN SUPPORT OF FINANCIAL HEALTH
2018
$200K
GENERAL SUPPORT
2018
$10K
GENERAL CONTRIBUTION
2018
$10K
PUBLIC, SOCIETAL BENEFIT
2018
$5K
UNRESTRICTED
2018
$947K
FOR GRANT RECIPIENT'S EXEMPT PURPOSES
2017
$674K
develop a national network that integrates asset building strategies into the Department of Housing and Urban Development's Family Self-Sufficiency Program and leverages it as a platform to promote financial security and economic mobility for low-income families that reside in subsidized housing
2017
$50K
FINANCIAL COACHING AND SAVINGS PROGRAM OPT-OUT PILOT IN CAMBRIDGE PUBLIC HOUSING
2017
$20K
Human Services
2017
$8K
Operating Support
2017

Funded by

$28.0M from 56 funders · 132 grants · 2017–2024

Blue Meridian Partners Inc

$10.2M · 3 grants · 2021–2023

Fidelity Investments Charitable Gift Fund

$3.2M · 8 grants · 2017–2023

Jpmorgan Chase Foundation

$2.8M · 7 grants · 2018–2023

The Pew Charitable Trusts

$2.8M · 3 grants · 2019–2022

Fidelity Foundation

$854K · 3 grants · 2020–2024

Vanguard Charitable Endowment Program

$707K · 4 grants · 2020–2023

WK Kellogg Foundation

$674K · 1 grant · 2017

Details

EIN203975100
Subsection03
Ruling date2006-12
Formed2005
Employees81
Volunteers46
COMPASS WORKING CAPITAL INC — Mission, Financials & Grants Received | Grantivo