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Church of the Nazarene USA/Canada Region

Compass Initiative

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Instructions

The COMPASS Journey is a year-long process of education, training, and accountability for pastors and associate pastors who meet certain financial qualifications. If you are accepted into the Journey you will be expected to do the following:

  1. Form a COMPASS Team consisting of you, your spouse (if married), and two lay leaders from your church who have financial savvy and whom you trust to encourage you and hold you accountable to your Journey Plan.
  2. Develop a COMPASS Journey Plan to spend at least 40 hours in financial education, training, and teaching during the next year that will improve your financial literacy and that of your congregation.
  3. Follow through on your Journey Plan, with regular prayer and accountability with your key lay leaders.
  4. Submit quarterly progress reports to the COMPASS Initiative through your online account.

COMPASS Journey Application

Personal Info

Application Type
This form is used for the Journey application, as well the True North Retreat registration. Journey applicants and True North Retreat participants are both required to complete the entire form.

Requirements

Requirements
All three are required for participation in the COMPASS Journey. Los tres son necesarios para participar en el viaje COMPASS.

Qualifications

Qualifications
(Do you spend at least 20% of your monthly income on debt servicing? Mortgage, student loans, credit cards, car payments, etc.?)
(Include your spouse's debt, but do not include mortgages.)
(This would be a cash nest egg. Envision your annual income. Do you have less than 3% of that amount currently in a cash account for emergencies?)
(This relates to dentist, doctor, medical procedure, drugs/medication you cannot afford, a treatment that would cure you of an illness, or preventative treatment to help you avoid the onset of an illness, etc.)
(Christian Healthcare Ministries such as Samaritan Ministries or Medishare that share expenses is not considered medical insurance.)
(This is debt you have incurred to help your children attend college.)
Select all that apply. At least 3 are needed to qualify. Seleccione todas las que correspondan. Se necesitan al menos 3 para calificar.

Savings

Debt

(Rapò dèt = total pèman dèt chak mwa / revni brit chak mwa x 100)
What is the combined household student debt total?
Do NOT include mortgage(s).

Housing

Èske w ap viv nan yon rezidans men se legliz la ki peye l pou ou?
Èske w resevwa yon alokasyon pou lojman nan men legliz la?
Èske ou posede kay kote w ap viv la?
(Equity = Estimated selling price, minus the mortgage principal and estimated closing costs)
Èske ou posede kèk lòt kay oswa pwopriyete?

Financial Leadership, Management & Well-Being

Church Expenses

(Debt Ratio = Annual rent or mortgage payments, divided by the church's annual income, times 100)
Use church's actual expenditures only. US Ministers - Total of annual salaries, taxes, housing allowance, SECA reimbursements, insurance, & church's portion of retirement contributions (for all pastoral personnel), divided by church's total annual income, times 100). Canadian Ministers - Total of annual salaries, taxes, insurance, & church's portion of retirement contributions (for all pastoral personnel), divided by church's total annual income, times 100).

Denominational Allocations

Èske legliz la peye 100% nan alokasyon denominasyon li yo pou twa ane ki sot pase yo?

Biblical Stewardship Classes

Compass Journey Team

I understand that the COMPASS Journey is a cooperative effort between me and my spouse (if married) and two lay leaders in my local church. Below are two individuals with whom I could have safe and transparent conversations regarding my personal finances.
If any information is missing or you do not meet all three requirements, you may not be considered for participation in the COMPASS Journey.