Compass Working Capital Inc

Analysis

Compass Working Capital Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in December 2006, 20 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Compass Working Capital Inc reported income of $9.7m and spending of $7.7m, leaving 21% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $4.4m to $9.7m (+119%), an average of +22% a year. The sharpest change came in the year to August 2020, when income rose by 49%. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Compass Working Capital Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MA. Charities of a similar size with the same main cause include Community Action Agency of Somerville Inc ($9.7m), Starkville Academy ($9.7m) and Weimar Institute ($9.7m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 75% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $395k (5.1% of expenses). Other salaries and wages came to $4.4m. At year end it held assets of $9.2m against liabilities of $821k, net assets of $8.4m. It reported 64 employees.