Compass Working Capital

Compass Working Capital (Compass) understands the role that assets and financial capabilities play in supporting families to access greater economic opportunity and move up and out of poverty. As a result, they put the tools to build assets and financial capabilities into the hands of families with low incomes and support families to use those tools to reach their financial goals and dreams.

To address the reality that Philadelphia families in public housing had limited ability to build assets, GreenLight worked with the Philadelphia Housing Authority (PHA) to bring Compass’s program model to residents. To implement the Compass model, GreenLight and Compass partnered with a local nonprofit, Clarifi. Clarifi was a perfect fit as they were already working in the region to help people identify and secure the most important assets in their lives through financial and housing counseling.

Compass’s unique approach leverages an underutilized, and decades-old federal initiative, the Family Self-Sufficiency (FSS) program, that allows participating families to capture as savings any increase in rent triggered by an increase in income. Compass combines this savings opportunity with individualized financial coaching to support families to reach major financial goals and become financially secure.