2026-02-16T09:46:21-06:00 2025-08-31 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2024-09-01 203975100 COMPASS WORKING CAPITAL INC COMP 6177900810 89 SOUTH STREET 804 BOSTON MA 02111 MARKITA MORRIS-LOUIS PRESIDENT/CEO 6177900810 2026-02-13 1 1 NICHOLE REILLY CPA P01633587 5083669100 2026-02-13 2024 2025-03-06 01:10:19Z MARKITA MORRIS-LOUIS 89 SOUTH STREET 804 BOSTON MA 02111 18415281 0 X WWW.COMPASSWORKINGCAPITAL.ORG X 2005 MA 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. 6 6 87 46 0 0 13840901 17250903 3325683 452277 457756 563658 3550 148443 17627890 18415281 165000 73500 0 0 6680519 8203446 0 0 764791 2261051 2804581 9106570 11081527 8521320 7333754 18517721 26304007 1567231 1973117 16950490 24330890 X 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. 0 0 6458630 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. 997840 452277 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 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 ALSO 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. COMPASS ALSO HOSTS A BIENNIAL NATIONAL CONFERENCE ON THE FSS PROGRAM. 695397 73500 148443 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. 8151867 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 37 0 1 87 1 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA CO FL IL PA DC MI MO CT RI VA NH NJ NY NC MD X X JALYNNE SANTIAGO 6177900810 89 SOUTH STREET NO 804 BOSTON MA 02111 SHARON E RIVA CHAIRPERSON 0.50 X X 0 0 0 PRECILLIA REDMOND DIRECTOR 0.50 X 0 0 0 MEAGHAN MCCARTHY DIRECTOR 0.50 X 0 0 0 THEA JAMES DIRECTOR 0.50 X 0 0 0 KAREN WALLACE DIRECTOR 0.50 X 0 0 0 HEATHER WELLINGTON DIRECTOR 0.50 X 0 0 0 MARKITA MORRIS-LOUIS PRESIDENT/CEO 40.00 X 222260 0 16309 JALYNNE SANTIAGO CFO/TREASURER 40.00 X 169783 0 7283 KIMBERLY MONTY HOLZEL CLERK 0.50 X 0 0 0 MCKINSEY ALSTON CHIEF HUMAN RESOURCES OFFICER 40.00 X 167964 0 7438 MORIAH GARCIA NELSON DIR. OF PROGRAMS/CPO 40.00 X 146256 0 14033 JAMES STUART CHIEF EXTERNAL AFFAIRS OFFICER 40.00 X 169390 0 12018 CHRISTINA NAPOLIN DIRECTOR OF CLIENT SUCCESS 40.00 X 102242 0 6239 GEORGE REUTER DIRECTOR OF IMPACT & INNOVATION 40.00 X 100563 0 14161 1078458 0 77481 7 0 1 0 NXTSTEP CONSULTING LLC 325 ABBEY RD BERWYN PA 19312 PRODUCT DEVELOPMENT 209100 PIXEL MACHINERY 25 KINGSTON ST BOSTON MA 02111 MANAGED IT SERVICES 127597 MERAKI COMMUNICATIONS ALLIANCE 1100 WYTHE ST ALEXANDRIA VA 22313 BRANDING/WEBSITE DESIGN 124531 3 1210942 16039961 17250903 SUBSCRIPTION REVENUE 624100 285989 285989 TRAINING AND TECHNICAL ASSISTANCE 624100 166288 166288 452277 563658 563658 OTHER REVENUE 900099 148443 148443 148443 18415281 600720 0 563658 73500 73500 518429 42667 320609 155153 6290606 5165362 817957 307287 164754 143507 13737 7510 696441 586592 74380 35469 533216 410400 91654 31162 10983 10983 157910 157910 84709 84709 960695 446182 331152 183361 371632 287881 71496 12255 114042 23294 90015 733 167001 141086 19396 6519 388757 245742 136698 6317 277047 255750 5215 16082 39429 21812 17499 118 WORKSHOPS AND OTHER PRO 192997 192577 130 290 CLIENT OUTREACH AND ASS 30867 28531 2336 STAFF DEVELOPMENT AND T 8512 2275 6038 199 11081527 8151867 2164869 764791 555272 629424 14217327 21914173 1370885 1683135 1439680 1377566 193706 197703 1403668 1053397 428162 350271 312689 151735 18517721 26304007 439173 743382 206427 174445 921631 1055290 1567231 1973117 X 15093814 21577322 1856676 2753568 16950490 24330890 18517721 26304007 7333754 46646 0 X X 0 1 X 1 0 X 5716230 5051960 7250236 13840901 17250903 49110230 5716230 5051960 7250236 13840901 17250903 49110230 8333607 40776623 31249 20159 186204 457756 563658 1259026 12616 43861 56477 50425733 9833695 0.80860 0.87780 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 84709 84709 10996818 11081527 704076 176019 0 0 490885 534579 605329 704076 2334869 3502304 133548 162086 74841 84709 455184 122721 133645 151332 176019 583717 875576 SCHEDULE C PART IV: COMPASS ENGAGES IN POLICY CHANGE ACTIVITIES IN ORDER TO HELP EXPAND THE SCOPE AND IMPACT OF THE FEDERAL FAMILY SELF-SUFFICIENCY (FSS) PROGRAM AND REMOVE OTHER BARRIERS TO ASSET-BUILDING FOR FAMILIES WITH LOW INCOMES. ON THE FEDERAL SIDE, COMPASS ADVOCATES WITH MEMBERS OF CONGRESS AND THE ADMINISTRATION, INCLUDING THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) WHICH OVERSEES THE FSS PROGRAM, PRIMARILY TO (1) INTRODUCE FLEXIBILITIES FOR THE IMPLEMENTATION OF AN AUTOMATIC ESCROW ACCOUNT (OR "OPT-OUT") DEMONSTRATION PROGRAM, (2) INCREASE FUNDING FOR THE FSS PROGRAM, AND (3) DIRECT/INCREASED FUNDING TOWARD GROWING AND HIGH-PERFORMING PROGRAMS. COMPASS ALSO ENGAGES IN SOME ADVOCACY ACTIVITIES IN STATES WHERE IT HAS A SIGNIFICANT PROGRAMMATIC PRESENCE, SUCH AS MASSACHUSETTS AND PENNSYLVANIA. THESE ACTIVITIES INCLUDE EFFORTS TO BUILD AWARENESS OF AND SUPPORT FOR THE PROGRAM AMONG STATE ELECTED AND APPOINTED OFFICIALS, AS WELL AS EFFORTS TO SECURE STATE FUNDING TO HELP EXPAND ACCESS TO THE FSS PROGRAM AMONG ELIGIBLE RESIDENTS. 207696 199334 8362 108486 92139 16347 1087486 761924 325562 350271 OPERATING LEASE OBLIGATION 142031 FINANCING LEASE OBLIGATION 8492 CONDITIONAL GRANT ADVANCES 904767 1055290 X 18461927 46646 46646 18415281 0 18415281 11081527 0 11081527 0 11081527 PART X, LINE 2: COMPASS ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. COMPASS HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT AUGUST 31, 2025. COMPASS' INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY FEDERAL AND STATE JURISDICTIONS 1 WELCOME HOME FUNDS 6 73500 0 PART I, LINE 2: GRANT FUNDS RECEIVED FROM FUNDERS ARE DEPOSITED INTO COMPASS BANK ACCOUNT. ELIGIBLE CLIENTS ARE SELECTED USING A LOTTERY SYSTEM. SELECTED CLIENTS ARE NOTIFIED BY THEIR COACHES AND RECEIVE AN EMAIL OUTLINING NEXT STEPS. AFTER THE CLIENT HAS HAD AN OFFER ACCEPTED FOR A HOME, AND ONCE THEY BEGIN THE MORTGAGE APPLICATION PROCESS, COMPASS WILL PROVIDE THE CLIENT WITH A GRANT ENDORSEMENT LETTER THAT THEY CAN PROVIDE TO THEIR BANK AND/OR OTHER FINANCIAL INSTITUTIONS WHEN OBTAINING A MORTGAGE. COMPASS WILL RELEASE THE FUNDS (IF THE CLIENT DECIDES TO USE THEM FOR CLOSING FEES OR DOWN PAYMENT COSTS) DIRECTLY TO THE FINANCIAL INSTITUTION AND/OR CLOSING ATTORNEY. CLIENTS CAN REQUEST COMPASS TO DISTRIBUTE THE FUNDS TO THE RELEVANT VENDOR FOR ANY FEES OR COSTS ASSOCIATED WITH THE CLOSING. FOLLOWING THE CLOSING PROCESS, THE CLIENT CAN REQUEST COMPASS TO DISTRIBUTE ANY OF THEIR REMAINING GRANT FUNDS TO CONTRACTORS FOR ANY REQUIRED REPAIRS, MAINTENANCE, OR IMPROVEMENTS THAT ARE NEEDED OR THAT WOULD ADD VALUE OR FUNCTIONALITY TO THE HOME. AWARDED GRANT FUNDS WILL BE DEDUCTED FROM THE TOTAL WELCOME HOME FUND BALANCE AND ANY REMAINING FUNDS WILL CARRY FORWARD TO NEXT YEAR. X X X X 0 0 0 0 0 0 0 0 0 MARKITA MORRIS-LOUIS PRESIDENT/CEO 222260 0 0 0 0 0 6668 0 9641 0 238569 0 0 0 JAMES STUART CHIEF EXTERNAL AFFAIRS OFFICER 169390 0 0 0 0 0 5082 0 6936 0 181408 0 0 0 JALYNNE SANTIAGO CFO/TREASURER 169783 0 0 0 0 0 5093 0 2190 0 177066 0 0 0 MCKINSEY ALSTON CHIEF HUMAN RESOURCES OFFICER 167964 0 0 0 0 0 5039 0 2399 0 175402 0 0 0 MORIAH GARCIA NELSON DIR. OF PROGRAMS/CPO 146256 0 0 0 0 0 4388 0 9645 0 160289 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE REVIEWED AND APPROVED THE FORM 990 PRIOR TO ITS FILING. THE FORM 990, WITH THE EXCEPTION OF SCHEDULE B, WAS DISTRIBUTED TO THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HOLDS AN ORIENTATION PROCESS FOR NEW EMPLOYEES AND BOARD MEMBERS THAT COVERS THE CONFLICT-OF-INTEREST POLICY. IN ADDITION, BOARD MEMBERS HAVE TO SIGN ACKNOWLEDGEMENT FORM AT ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD HAS A COMPENSATION COMMITTEE TO REVIEW THE CEO'S COMPENSATION AS WELL AS OVERALL BENEFITS STRUCTURE FOR ALL EMPLOYEES. THE COMMITTEE REVIEWS NONPROFIT SALARY STUDIES ALONG WITH THE CEO'S PERFORMANCE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FORM 990 AND ANNUAL FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST, POSTED ON THE ORGANIZATION'S WEBSITE, UPLOADED TO GUIDESTAR, AND ARE AVAILABLE ON THE MA ATTORNEY GENERAL'S WEBSITE. FORM 1023 IS AVAILABLE UPON REQUEST. MA FORM PC IS AVAILABLE ON THE MA ATTORNEY GENERAL'S WEBSITE. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THERE WERE NO CHANGES DURING THE YEAR.