2020-12-21T11:04:40-06:00 2020-08-31 431985162 SMITH SULLIVAN & BROWN PC 80 FLANDERS ROAD - SUITE 200 WESTBOROUGH MA 01581 990 2019-09-01 203975100 COMPASS WORKING CAPITAL INC COMP 6177900810 89 SOUTH STREET NO 804 BOSTON MA 02111 SHARON E RIVA PRESIDENT 6177900810 2020-12-21 1 SANDRA M BROWN CPA P01614103 5088717178 2020-12-21 2019 2022-09-23 18:48:47Z SHARON E RIVA 89 SOUTH STREET NO 804 BOSTON MA 02111 6621752 0 X WWW.COMPASSWORKINGCAPITAL.ORG X 2005 MA 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. 7 6 42 21 0 0 3009414 5181776 1416355 1302460 35318 104071 -15099 33445 4445988 6621752 0 20000 0 0 2507583 3133792 0 7168 434156 1385864 1735503 3893447 4896463 552541 1725289 3625963 8810858 175908 3635514 3450055 5175344 X 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. 0 0 2186160 20000 1160333 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. 55814 76105 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. 933512 99351 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. 52392 116 POLICY PROGRAM 52392 116 3227878 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 16 0 42 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA AL AK AR CA FL HI IL KS KY MD MI MN MS ME NH NJ NM NY NC OK OR PA RI SC TN UT VA WI WV X X X X CRYSTAL MURPHY 6177900810 89 SOUTH STREET NO 804 BOSTON MA 02111 SHARON E RIVA PRESIDENT/CEO 40.00 X X 184338 0 18430 SCOTT CARMEL CHAIRPERSON 0.50 X X 0 0 0 ASHA MEHTA BOARD MEMBER 0.50 X 0 0 0 MEAGHAN MCCARTHY BOARD MEMBER 0.50 X 0 0 0 OMAR WOODARD BOARD MEMBER 0.50 X 0 0 0 MAUREEN FITZGERALD BOARD MEMBER 0.50 X 0 0 0 PRECILLIA REDMOND BOARD MEMBER 0.50 X 0 0 0 ANN QUANDT TREASURER 0.50 X 0 0 0 KIMBERLY MONTY HOLZEL CLERK 0.50 X 0 0 0 CRYSTAL MURPHY CHIEF FINANCIAL OFFICER 40.00 X 86951 0 2355 BETTY FRANCISCO GENERAL COUNSEL 30.00 X 106218 0 3187 ANN LENTELL CHIEF PROGRAM OFFICER 40.00 X 106430 0 3896 483937 0 27868 3 0 1 0 CLARIFI 1635 MARKET STREET 5TH FLOOR PHILADELPHIA PA 19103 PROG. SUBCONTRACTOR 500732 THE BRIDGESPAN GROUP INC 2 COPLEY PLACE SUITE 3700B BOSTON MA 02116 STRATEGIC CONSULTING 125989 2 5181776 59223 5181776 FINANCIAL COACHING 624100 1249030 1249030 TECHNICAL ASSISTANCE 624100 53430 53430 1302460 104071 104071 OTHER REVENUE 900099 33445 33445 33445 6621752 1335905 0 104071 X 20000 20000 300457 9920 191332 99205 2397730 1644185 527783 225762 54399 37394 11919 5086 164118 109503 40802 13813 217088 134107 57483 25498 1200 1200 72329 72329 21000 21000 7168 7168 958830 778796 179785 249 76804 52675 16300 7829 84398 63940 15124 5334 145884 93135 39040 13709 22792 21277 719 796 50526 35193 2333 13000 180 180 43521 33484 7448 2589 12743 9084 3345 314 TELECOMMUNICATIONS, COM 152596 87839 56041 8716 STAFF DEVELOPMENT 51864 35510 11266 5088 CLIENT OUTREACH 25364 25364 WORKSHOPS AND OTHER PRO 15472 15472 4896463 3227878 1234429 434156 394020 200586 1627304 7364983 1287338 715887 177503 144494 37159 101257 496406 212755 102639 283651 3625963 8810858 165287 262944 10621 72570 0 3300000 175908 3635514 X 1664947 4037780 1785108 1137564 3450055 5175344 3625963 8810858 1725289 0 X 0 1 X 1 0 X 2754478 1648045 2163787 3009414 5172553 14748277 2754478 1648045 2163787 3009414 5172553 14748277 2453425 12294852 1792 8414 21176 35185 104071 170638 1709 7773 24775 17549 33445 85251 15004166 5346026 0.81940 0.71550 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: IDA RECAPTURE - OTHER REVENUE - 2015 AMOUNT: $ 1,709. 2016 AMOUNT: $ 7,773. 2017 AMOUNT: $ 24,775. 2018 AMOUNT: $ 17,549. 2019 AMOUNT: $ 33,445. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21000 21000 3206878 3227878 311394 77849 0 0 284071 301655 344672 311394 1241792 1862688 21000 21000 71018 75414 86168 77849 310449 465674 21000 21000 194247 48560 145687 142742 45138 97604 159417 119057 40360 283651 CONDITIONAL GRANT ADVANCE 3300000 3300000 6669272 47520 47520 6621752 0 6621752 4943983 47520 47520 4896463 0 4896463 1 GIFT CARDS DISTRIBUTED TO PROGRAM PARTICIPANTS 40 20000 FMV GIFT CARDS DISTRIBUTED TO PROGRAM PARTICIPANTS PART I, LINE 2: EMPLOYEES REVIEWED CLIENT REQUESTS FOR ASSISTANCE TO DETERMINE ELIGIBILITY AND AWARD. FINANCIAL ASSISTANCE REQUESTS WERE COMPLETED BY CLIENTS VIA A SURVEY THAT INCLUDED PANDEMIC-RELATED REASONS FOR THE FINANCIAL NEED. FINANCIAL COACHES COMMUNICATED WITH CLIENTS AWARDED THE FINANCIAL ASSISTANCE TO ENSURE RECEIPT OF THE GIFT CARDS. PART I, LINE 2: EMPLOYEES REVIEWED CLIENT REQUESTS FOR ASSISTANCE TO DETERMINE ELIGIBILITY AND AWARD. FINANCIAL ASSISTANCE REQUESTS WERE COMPLETED BY CLIENTS VIA A SURVEY THAT INCLUDED PANDEMIC-RELATED REASONS FOR THE FINANCIAL NEED. FINANCIAL COACHES COMMUNICATED WITH CLIENTS AWARDED THE FINANCIAL ASSISTANCE TO ENSURE RECEIPT OF THE GIFT CARDS. X X X X X 0 0 0 0 0 0 0 0 0 SHARON E RIVA PRESIDENT/CEO 184338 0 0 0 0 0 4878 0 13552 0 202768 0 0 0 X CONSTRUCTION COSTS 1 50000 FAIR VALUE X DESIGN SERVICES 1 9223 FAIR VALUE 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 DURING FY 2020 THE ORGANIZATION APPROVED AMENDED BYLAWS THAT WERE AMENDED TO REFLECT THE CHANGES PRIMARILY RELATED TO THE ARTICLES GOVERNING ITS OFFICERS. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE AND AUDIT COMMITTEE REVIEWED AND APPROVED THE FORM 990 PRIOR TO ITS FILING. THE FORM 990, WITH THE EXCEPTION OF SCHEDULE B, WAS DISTRIBUTED TO THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HOLDS AN ORIENTATION PROCESS FOR NEW EMPLOYEES AND BOARD MEMBERS THAT COVERS THE CONFLICT OF INTEREST POLICY. IN ADDITION, BOARD MEMBERS HAVE TO SIGN ACKNOWLEDGMENT FORM AT ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD HAS A COMPENSATION COMMITTEE TO REVIEW THE CEO'S COMPENSATION AS WELL AS OVERALL BENEFITS STRUCTURE FOR ALL EMPLOYEES. THE COMMITTEE REVIEWS NONPROFIT SALARY STUDIES ALONG WITH THE CEO'S PERFORMANCE. FORM 990, PART VI, SECTION C, LINE 19 990-T AND FORM 1023 UPON REQUEST, 990 ON OWN WEBSITE AND GUIDESTAR, AND MASSACHUSETTS ATTORNEY GENERAL WEBSITE PROVIDES AUDIT, FORM 990 AND FORM PC. FORM 990, PART IX, LINE 11G CONTRACTED EVALUATION AND RESEARCH SERVICES: PROGRAM SERVICE EXPENSES 100,332. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 100,332. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 151,738. MANAGEMENT AND GENERAL EXPENSES 179,785. FUNDRAISING EXPENSES 249. TOTAL EXPENSES 331,772. SUBCONTRACTOR EXPENSES: PROGRAM SERVICE EXPENSES 526,726. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 526,726.