Compass Working Capital

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 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, Connecticut, Pennsylvania, rhode island, Missouri, 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.

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.

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 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 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. And, Compass hosts a biennial national conference on the fss program.