Compass Working Capital
Grant Size: $930,000
Grantee Since: 2010
Grant Objective: Launch pilot FSS program.
Too often, struggling families who receive public benefits experience dramatic, disproportional losses of those benefits when their earnings or assets increase. This dynamic erodes a family’s motivation to move forward. The federal Family Self Sufficiency (FSS) Program turns this problem on its head by offering families a powerful incentive to increase their earnings, get off welfare, and build a durable asset. Unfortunately, this opportunity is poorly communicated to potential participants, and is currently underutilized and underleveraged by the local and regional housing authorities that administer it. SGP funded Compass Working Capital, a nonprofit that specializes in financial coaching and asset development, to partner with MA housing authorities to increase enrollment in FSS and get participating families on a path to financial security.