- Pre-Assessment: The National Office goes through a pre-assessment to determine which pastors qualify, based on church giving from the previous year. We just did this! You’re a step closer to the goal of a $1,800 Emergency Fund.
- COMPASS Contacts Your DS: COMPASS 2.0 staff contact your District Superintendent with the list of COMPASS 2.0 pastors who are eligible.
- DS Communicates with Eligible Pastors: The District Superintendent contacts eligible pastors, making them aware of their eligibly and encouraging them to do 3 things:
- visit the compassinitiative.org website,
- obtain COMPASS 2.0 information, including the 10-Step Process and
- enroll in the program.
- Eligible Pastor Enrolls Online: The eligible pastor enrolls in the COMPASS 2.0 program online. When the pastor completes the enrollment, they automatically receive an e-mail back with all the COMPASS 2.0 information they need to complete the program.
- Eligible Pastor Completes 2.0 Financial Education: Eligible and enrolled Canadian pastors will then receive a link and are required to participate in a 90-minute Canadian COMPASS 2.0 Financial Education training, delivered either live or on-line, in partnership with districts. Many of these trainings will be virtual, scheduled at multiple times and delivered by either Dr. McKain or one of our nationally-qualified Canadian COMPASS Coaches.
- Eligible Pastor Opens an Emergency Savings Account (ESA-TTFA): This may be done at any financial institution of the pastor’s choosing. We encourage the title of the account to include Emergency Savings Account (ESA).
- Eligible Pastor Funds the Emergency Savings Account (ESA): The pastor saves $25 per month for 36 months. At the end of each year, the pastor will have saved $300 and at the end of 3 years, a total of $900 will be saved. The pastor has up to one year to make one or more deposits in their ESA which brings the total to $300 annually. Once the ESA account is funded with $300 after year 1, the pastor e- mails the COMPASS office a recent pdf statement showing the balance (less personal information, account numbers, etc). Our COMPASS staff then communicates the eligible pastor’s “program completion” to the National Office. The same process is followed for year 2, showing $600 saved and then finally, for year 3, showing $900 saved.
- National Office Sends a $300 Check & Communicates to Local Church: The National Office sends the matching $300 to the local church at the end of each year, for up to 3 years (totaling $900) , and sends an automated message to both the eligible pastor and the church explaining the payment of the $300 is to go directly to the pastor to add to their Emergency Savings Account (ESA).
- Pastor Views Their Own Retirement Account: The National Office and COMPASS staff both hope the pastor will use this occasion and $900 investment by the denomination to view their retirement account, view the match payment and also view the other resources they are offered.
- COMPASS Communicates with the DS: After the National Office communicates with the COMPASS staff that the $300 check for years 1, 2 and 3 has been sent to the eligible pastor, the COMPASS staff follows up with the DS by way of a simple text, letting the DS know the $300 has been sent, in partnership with the National Office, COMPASS and the district. COMPASS staff will also keep the DS updated of the total COMPASS 2.0 program monies delivered to their district.