COMPASS HOUSING SERVICES IS AUSTRALIA’S LEADING COMMUNITY HOUSING PROVIDER.

Established in 1985, Compass Housing Services Company Limited (Compass) is a not-for-profit organisation that aims to alleviate the hardship of housing stress for low to moderate income earning households by providing secure and affordable housing, as well as delivering housing products for disadvantaged people who have difficulties sourcing adequate and affordable housing.

Compass manages social housing in a similar manner to state government provided social housing, with operations regulated by the national performance-based registration system.

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COMPASS HOUSING
CELEBRATING 30 YEARS

Compass is excited to be celebrating 30 years of providing housing to those in need. Our organisation differs greatly from that one founded 30 years ago and we are pleased to have had Dr Tony Gilmour and Helen Karathomas research and author our 30 year commemorative book “Navigating Change”.

As the title of Dr Gilmour’s book suggests, the history of Compass is a story of innovation and overcoming the odds. That a company founded as a tenant collective by a group of idealists and radicals from regional New South Wales would, 30 years later, find itself on the cusp of becoming the largest non-government provider of subsidised housing in the country, is a testament to the ingenuity, courage and dedication of all those who guided its course over that time.

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2015 Report Card

KEY PERFORMANCE INDICATORS 2015 2014 2013
TENANT SATISFACTION
Overall satisfaction with the organisation 91% 89% 88%
Satisfaction with ways in which Compass involve tenants 88% 90% 89%
Satisfaction with ways in which Compass communicate with tenants 88% 87% 87%
SERVICE DEVELOPMENT
Total Properties managed as at 30 June 4473 3317 3245
Total properties managed under Housing NSW programs 2900 2881 2882
FINANCIAL MANAGEMENT
Cash at end of year $8.7M $23.9M $11.8 M
Net Profit $180.7M $21.9M $4.9 M
Net Operating Profit (ex Capital Grants / Contributions) $3.5M $8.4M $4.9 M
Retained Profit $373.2M $192.4M $170.5 M
HOUSING MANAGEMENT
Arrears 1.50% 2.00% 2.00%
Market Rent loss via void/vacancy $120.00 $78.65 $99.55
HUMAN RESOURCES
Number of full time equivalent staff 130.49 85.94 87.47
Training Spend $108K $116K $109K
MAINTENANCE
Combined Maintenance expenditure $6.5M $5.4M $6.2 M
REPAIRS AND MAINTENANCE COMPLETIONS
No service requests raised 21,192.00 15,040.00 14,614.00
No service requests completed 20,208.00 14,457.00 17,980.00


Compass is more than just a tenancy manager. We’re dedicated to making sure our tenants have a voice and are actively engaged in their communities.

Community


Compass provides a range of tenant participation and community projects including:

 

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Financial Report


Compass continues to grow with key additions to our asset portfolio. We now offer more services than ever before and engage more tenants.

Net surplus increased to over $17.5 M this year taking our net assets to $188 M. In a year of housing supply crisis Compass added 69 new properties to our portfolio.

 

financial report

Summary Statement of Financial Position

As At 30 June 2015

ASSETS 2015 $ 2014 $
CURRENT ASSETS
Cash and cash equivalents 8,651,889 17,759,553
Trade and other receivables 8,853,131 6,543,065
Other assets 1,139,316 594,838
Other financial assets 10,941,100 9,821,268
Non current assets held for sale -
TOTAL CURRENT ASSETS 29,585,436 34,958,724
NON CURRENT ASSETS
Other assets 1,650 1,250
Other financial assets 125,504 124,141
Property, plant and equipment 2,844,786 647,382
Investment property 385,193,547 194,045,234
Intangible assets 310,324 109,505
TOTAL NON CURRENT ASSETS 388,475,811 194,927,512
TOTAL ASSETS 418,061,247 229,886,236

LIABILITIES
CURRENT LIABILITIES
Trade and other payables 3,080,238 2,357,247
Borrowings 4,222,006 1,269,372
Short term provisions 972,176 698,755
Other liabilities 3,444,434 11,038,895
TOTAL CURRENT LIABILITIES 11,718,854 15,364,269
NON CURRENT LIABILITIES
Borrowings 33,044,782 21,984,153
Long term provisions 133,927 115,500
TOTAL NON CURRENT LIABILITIES 33,178,709 22,099,653
TOTAL LIABILITIES 44,897,563 37,463,922
NET ASSETS 373,163,684 192,422,314

EQUITY
Reserves 115,089,886 115,089,886
Accumulated surpluses 258,073,798 77,332,428
TOTAL EQUITY 373,163,684 192,422,314