At Compass, the true measure of our success is whether the families we serve reach the dreams and aspirations they have for a stronger financial future.
Reaching these dreams is a long-term process, which is why Compass makes a long-term investment in families. Along the way, we reflect on a set of core questions and utilize leading financial security indicators to measure the progress of the families we serve and the effectiveness of our work.
Are we serving the families we set out to serve?
In New England and nationally, asset poverty is most prevalent for people of color and single-parent households. The demographics of the families we serve reflect this reality: over 90% of participants in our flagship FSS programs identify as a person of color, and 60% are single parents.
We believe that financial security for women is a critical component of the fight against poverty. Over 90% of the families we serve are led by women.
Are the families we currently serve moving toward greater financial security?
Families enrolled in our flagship FSS programs for two years have made significant progress towards a more secure financial future:
60% of families have increased their annual income, with an average annualized increase of $11,748
81% of families have built savings in their program savings account, with average savings of $2,467
65% of families have increased their credit score, by an average of 49 points
74% of families have decreased, or maintained zero, collection debt
Have our program graduates built assets?
Compass program participants have built more than $2.15 million in savings over the past 10 years
Graduates with a goal of owning their own home have leveraged more than $5 million in first-time homebuyer assistance.
Read more about a Compass program graduate who reached her dream of owning her own home here.
Are we influencing practice and policy in our field?
In November 2015, Compass hosted a national roundtable for practitioners, policymakers, researchers, and housing experts titled "Integrating Asset Building and Financial Capability Strategies into Subsidized Housing Programs: The Family Self-Sufficiency (FSS) Program and Beyond." Learn more in What We're Learning.
In July 2015, Compass was mentioned very favorably in a report from HUD to the Senate Committee on Appropriations on the best practices of the Family Self-Sufficiency (FSS) Program.
- In December 2014, Compass celebrated with a coalition of other asset-building and housing organizations at the success of our collective efforts to expand eligibility for the Family Self-Sufficiency program to an additional 1.5 million households in the U.S.