As part of their "Agents for Change" series, PBS NewsHour published this piece about Compass Working Capital and our work on the Family Self-Sufficiency program. Click the image below to read the full article.
As part of a series presented by GLG's Social Impact Fellowship, Compass Founder and Executive Director Sherry Riva was profiled by Nationswell, a national digital media company that focuses on social innovation. Click the image below to read the full article.
America Forward is a nonpartisan policy initiative of national venture philanthropy fund New Profit, and works to advance a public policy agenda that champions innovative and effective solutions to our country’s most pressing social problems. In the run up to this year's presidential election, America Forward has been featuring leaders from several of its coalition members on its blog to talk about some of these solutions. Today's post was authored by Sherry Riva, Compass's Founder and Executive Director, and looks at ways that government and nonprofits can partner together to create more pathways out of poverty for more low-income families in the U.S. To read the blog post and check out the rest of the America Forward blog, click here.
On Monday, September 19, 2016 Compass officially launched our National FSS Network, which will provide training and technical assistance to implementing partners across the country. As part of the launch, these founding partners gathered for three days of training to learn more about how to integrate aspects of Compass's asset building model for the Family Self-Sufficiency (FSS) program into their own local FSS programs.
In celebration of this exciting new venture for Compass, our Founder and Executive Director, Sherry Riva, composed a letter detailing the history of this effort and our vision for this network. Click here to read the letter in full.
Compass is honored to have been selected by the Massachusetts NonProfit Network (MNN) as a finalist for the NonProfit Excellence Award in Innovation. According to MNN, judges reviewed over 200 nominations for seven nonprofit awards, honoring the "dedication, passion, and impact" of nonprofit organizations and leaders across the state. Winners will be announced on June 27, 2016 at the State House, as part of the organization's annual NonProfit Awareness Day. We look forward to connecting that day with all the fantastic finalists and other great organizations working to improve life for all people here in Massachusetts.
For more about the awards and a complete list of finalists, click here.
On November 19, 2015, more than 65 practitioners, policymakers, advocates, and researchers gathered at a roundtable sponsored by Compass Working Capital to discuss opportunities to integrate asset building and financial capability strategies into subsidized housing programs. The roundtable focused in particular on opportunities offered by the Family Self-Sufficiency (FSS) program – an initiative of the U.S. Department of Housing and Urban Development (HUD) designed to help residents of subsidized housing increase their earnings and build savings. The roundtable also considered a broader set of opportunities, including the possibility of modifying the basic model of subsidized housing to build in regular, automatic savings for all housing subsidy participants.
As a follow up to the roundtable, Compass is pleased to release a report that summarizes the broad themes discussed at the roundtable and captures a set of next steps for moving forward a common agenda designed to maximize opportunities for subsidized housing participants to build assets and financial capability. Click the image below to view the full report.
This winter, in partnership with Cambridge Housing Authority (CHA), Compass will launch a pilot project to test the impact of automatically providing all residents of a public housing development with a special savings account, into which CHA will deposit half of any increased rent that the resident pays as a result of increased earnings. Check out this blog post from our partners at Abt Associates to learn more about the program and its potential to reshape the experience of subsidized housing programs for many low-income families.
We are excited to share that Sherry Riva, Founder and Executive Director of Compass Working Capital, has been named a 2015 GLG Social Impact Fellow. The Social Impact Fellowship gives twelve leaders and their organizations ongoing access to one-on-one learning from GLG’s global teaching membership. It is an honor for Compass to be included alongside other nonprofit leaders and social entrepreneurs who are implementing innovative approaches to address complex social issues. To learn more about the fellowship and this year's class, visit glgsocialimpact.com/fellows or watch this short video on the recent fellows convening in New York:
On November 19th, 2015, Compass will host a roundtable with national leaders in the housing and asset building fields along with government agencies, researchers, policy experts and funders to build consensus on the expanded integration into housing assistance of promising strategies that support low-income families to build assets and financial capabilities. Special focus will be paid to immediate opportunities within the Family Self-Sufficiency (FSS) program to support thousands of U.S. families to move up and out of poverty.
For more details and to learn how you can participate, click here.
The Cummings Foundation, one of the largest charitable foundations in New England, has selected Compass as one of 100 Massachusetts nonprofits to receive a $100,000 grant. This support will help provide increased coaching and support to families in Lynn as they approach program graduation and take important steps toward greater financial security. To learn more about our Family Self-Sufficiency (FSS) Program in Lynn, operated in partnership with Lynn Housing Authority and Neighborhood Development, click here.
On Sunday, May 24th, The Boston Globe ran a piece on four local families who have succeeded in moving up and out of poverty. The story featured Vilmarys Cintron, a graduate of one of our financial coaching and savings programs operated in partnership with Lynn Housing Authority and Neighborhood Development.
Our programs support residents of subsidized housing to build savings and assets as a pathway out of poverty. With support from Compass, Vilmarys transitioned out of public housing, purchased her own home, and launched an in-home daycare business. Click here to read more about Vilmarys's story and those of other Compass families.
Join Compass Working Capital in celebrating the success and expansion of our financial coaching and savings programs for low-income families, including the Family Self-Sufficiency (FSS) programs in Boston, Cambridge, and Lynn.
Compass was selected for the Social Impact Exchange S&I 100, an index of top nonprofits creating social change. Click here to view our profile on the Index.
Compass Financial Coaching Associate Phuong Luong awarded 2014 Financial Planning Association Diversity Scholarship. Click to read about her experience at the FPA national conference.
From the Field publishes a brief on Compass Working Capital.
Compass featured in the Federal Reserve Bank of Boston's Spring 2014 issue of Communities & Banking.
Compass was featured in the Chronicle of Philanthropy! Click on the image below to read the full article.