Compass Working Capital Inc

Nonprofit profile at a glance

EIN
203975100
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Boston, MA, USA
Phone
6177900810
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$18,415,281
Expenses
$11,081,527
Assets
$26,304,007
Liabilities
$1,973,117

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • MARKITA MORRIS-LOUIS (PRESIDENT/CEO)

Highest reported compensation

  • MARKITA MORRIS-LOUIS (PRESIDENT/CEO): $238,569 total reported compensation
  • JAMES STUART (CHIEF EXTERNAL AFFAIRS OFFICER): $181,408 total reported compensation
  • JALYNNE SANTIAGO (CFO/TREASURER): $177,066 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

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.

What it reported doing in 2024

Family self-sufficiency (fss) program: since 2010, compass working capital ("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 towards 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 partnership with public housing authorities and nonprofit housing organizations in Massachusetts, Pennsylvania, Colorado, Connecticut, Florida, Illinois, Maryland, Michigan, Missouri, New Hampshire, New Jersey, New York, North Carolina, Rhode Island, Virginia, and Washington dc. 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.

Operating model

Revenue model
Donor-supported. 87% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 87
  • Accountability: 100
  • Sustainability: 74
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 46%; rating input score 46
  • Program expense ratio: 73.6%; rating input score 74
  • Fundraising efficiency: $22.56 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 39.8%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 2.37; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 78; 78th percentile among comparable filings
  • Officer compensation ratio: 10.4%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: 17.3% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 19.4% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: 21.3% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 46% of revenue deployed · 73.6% of spending went to programs
  • Governance: 6 of 6 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $8.2M in reported program spending
  • Leadership: top reported pay $239K · 14 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $461K reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 46/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.