History
Founded in 2005, Compass Working Capital builds on the principles of a national asset development movement. Broad-based asset building is widely seen as one of the most effective strategies to help working poor individuals and families enter the financial mainstream and achieve the American dream.
Compass launched its flagship Individual Development Account (IDA) program at Roxbury Preparatory Charter School (www.roxburyprep.org), one of the premier charter schools in Massachusetts and in the country. Through a unique partnership with Lynn Housing Authority and Neighborhood Development (www.lhand.org), Compass expanded to the nationally recognized KIPP Academy (www.kipplynn.org) in Lynn in 2005. In 2007, Compass expanded significantly in Lynn and opened its IDA program citywide.
Compass is currently evaluating its growth strategy, including options to expand its flagship IDA program in the greater Boston area and to introduce new products and services to promote asset building more broadly for working poor families.