Explore your needs.

Examine your needs by asking yourself the following questions:

• Do I have a working budget?
• Do I need to get out of debt? Or build my retirement savings? Or both?
• What are the areas that cause me trouble?
• What financial knowledge am I lacking?
• Which financial skills do I need?

Explore the needs of your church.

Reflect on the history of your church and the people that make up your church.

• What is the generosity level of my church?
• Is the church struggling with debt?
• Are the church members preparing/ready for retirement?
• Are people tithing?
• Have we studied biblical stewardship?
• What is the financial lifestyle of my people?
• Is there a way to use financial training as outreach?

Explore the COMPASS Academy.

• Review the sample Journey Plans and sample Training Goals that are available in your COMPASS account. These are intended to get your creative juices flowing.
• Browse through the resources listed in the COMPASS Academy and make a list of those that might meet the needs of you and your church.
  • Take note of what the resources are, where they are found, and approximately how much time you might spend on them.
  • Your Journey Plan will need to include at least 40 hours of learning, training, or teaching. These can be logged as Lifelong Learning Hours.

Include your accountability team in the planning process.

• Meet with your accountability team.
• Be honest with them regarding your financial situation.
• Invite them to brainstorm solutions with you.
• Explore the COMPASS Academy resources together.
• Invite them to assist you in developing the Training Goals sections of your Journey Plan.

Fill out each section of the Journey Plan form.

• Consider your church’s financial resources when determining your anticipated grant request. This amount may change by the end of your journey depending on the ability of the church to contribute throughout the year-long journey.
• Provide details in the Training Goals sections.
  DO this: "Watch the following Fidelity videos... for 2.5 hours."
  NOT this: "Watch videos."
• Be specific about your accountability process.
  DO this: "Each month my accountability team will ask me and my spouse the following questions..."
  NOT this: "Meet monthly."

Submit your plan and receive approval.

• Submit your Journey Plan by checking the box, “This form is complete and ready for review by the steering committee.” Then select “Save and Submit Form.”
• You will receive a confirmation email when it is submitted successfully.
• If needed, you will be contacted for additional information or clarification during the review process.
• Approval may take several weeks, and you will be notified by email.

Communicate with church leadership.

Discuss your COMPASS Journey Plan with your church board/leadership.

• Give them a brief overview of the purpose and goals of the program.
• The local church is expected to raise/contribute at least half of the total grant amount
• Share this unique opportunity for a matching grant (up to $5,000) from The COMPASS Initiative
• The church is encouraged to be creative in how the funds are generated. Fund raising, love offerings, budget line item or generous donors are all possibilities

Your COMPASS accountability team advocates for you.

• Your accountability team should advocate on your behalf with the church board/leadership, as well as with the church body.
• The specific details of your financial situation do NOT need to be shared with everyone, but allow enough to be shared that they get an idea of your needs.
• Encourage the team to inspire giving through love, not pity or guilt.

Begin following your Journey Plan.

• Start your personal training goals.
• Implement the church training goals.
• Meet with your accountability team regularly.
• Empower your accountability team to be your advocates regarding the church contributions for your grant.

Amend your Journey Plan as necessary.

• If you come across new or additional resources during your year-long journey you may incorporate them into your plan.
• Changes may also be made if there is something in your plan that needs to change, due to unforeseen circumstances.
• Email your request for proposed changes to Bonnie Beam at bbeam@nazarene.org.

Submit quarterly reports.

• Quarterly reports are due within 15 days of the end of each three month period. These dates are calculated based on the date that your Journey Plan was accepted.
• The quarterly report forms and due dates are generated when your plan is accepted,and will appear on your COMPASS account page.

The local church gathers its total contribution to your grant.

• The local church finishes its fundraising efforts and donors make their final contributions toward their pastor’s grant.
• The COMPASS Team lay leaders inform you of the total funds you will receive from the local church.

Submit the final report and the final grant request.

• The Final Report is due within 15 days of the end of your one-year COMPASS Journey. This date is calculated based on the date that your Journey Plan was accepted.
• The final Grant Request form is due at the same time as your final report. Your final request should reflect the reality of what the church has been able to raise/contribute over the course of the year. This may or may not be the same amount you anticipated when you wrote your Journey Plan.
• Keep in mind that The COMPASS Initiative will match the local church contribution up to $5,000.

COMPASS sends the matching grant to the local church.

• The COMPASS Initiative will send a check to your local church as a matching grant for the same amount (up to $5,000) that the church is contributing.
• The church’s contribution as well as the COMPASS matching grant must be considered regular income for you for tax purposes.
• The income raised by the local church for the matching grant will not increase the church’s allocations.

The local church disburses the grant funds.

• The local church will disburse all the Student Debt Relief and Personal Debt Relief funds directly to you. You must use these funds to make payments on your respective debts.
• The local church will report these debt relief funds (church contribution and COMPASS grant) as regular income for you, according to their normal compensation procedures on your tax forms.
• The local church will disburse all the Retirement Readiness funds as an “employer salary addition” directly into your Nazarene 403(b) account.
• The local church will report the retirement account deposit with code E as non-taxable income according to their normal compensation procedures on your tax forms.

Send receipts for debt payments to The COMPASS Initiative.

• Make payments on your student debt or personal debt within 30 days of receiving the funds.
• Send debt payment confirmations/receipts to The COMPASS Initiative. Digital or electronic copies are preferred. Please direct them to Bonnie Beam at bbeam@nazarene.org.
• The COMPASS Initiative will receive confirmation of your retirement account deposits directly from Pensions & Benefits.