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Compass Financial Stability and Savings Evaluation

Aimed at helping low-income families save and build assets, Compass Working Capital’s Financial Stability and Savings Program is an innovative variation on HUD’s Family Self-Sufficiency (FSS) program. 

Compass Financial Stability and Savings Program Pilot Evaluation

Cover of report on Compass self-sufficiency evaluationIASP’s first report analyzes implementation strategies and early outcomes of this pilot program. First-year results demonstrate great promise for future program replication. Effective outreach and marketing have increased participation by almost 200% in Lynn, MA. The Compass program’s financial education and coaching are helping participants develop asset building strategies and encourage employment that has resulted in over one-third of participants beginning to accrue savings in an escrow account in the first six months.  

Compass Financial Stability and Savings Program Pilot Evaluation: Second Year Report

Cover of Compass FSS second reportThe second report in the series on the implementation and early outcomes of the Compass Financial Stability and Savings Program, an innovative variation on HUD’s Family Self-Sufficiency (FSS) program, demonstrates continued progress. In two years, Compass has increased FSS participation by 275% in the city of Lynn.  At the end of the first year, participants saw an increase in income, decrease in public benefits receipt, and increase in credit score. In addition, participants felt more confident about saving and budgeting, although some participants still experienced anxiety related to finances.

Compass Financial Stability and Savings Program Pilot Evaluation: Final Report

cover of final compass fss reportIASP Research Associate Delia Kimbrel and Policy Director Sandra Venner completed the final report for Compass Working Capital. This three-year evaluation focused on how families use this opportunity to move toward economic stability, positive impacts sustained after program graduation, and the cost-effectiveness of taking the program to scale.  The third year report includes a description of the expansion of the program to families in Cambridge, MA.  Early outcomes in this new region show similar promising results of increased earned income and decreased receipt of public benefits along with increased confidence related to financial matters, but continued stress about making ends meet.  A preliminary analysis of the return on investment demonstrates that these results are achievable with very modest per-participant program annual costs.


Heller School Poster Day

delia kimbrel presents poster Delia Kimbrel presented her work on the Compass Family Security and Savings program at Heller's poster day in 2012.

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