Compass Housing Services
'Your Direction Home'
#1
Compass is now
Australia's largest
community housing
provider
4,251
Properties currently
under management
as at 1 july 2014
69
Brand new
properties delivered
4,700
Approximate additional
properties to be managed
in 2015 awarded under
the Logan Renewal
Initiative
$2.1M
Awarded
in the NSW
New Generation
Boarding House
tender
37
NRAS incentives
awarded under
round 5
$53.1M
total revenue
$21.8M
Total surplus
$192.4M
Net assets
$1.3B
Total Assets under
management
$17.1M
Total grants
$27.5M
Total cash
Compass Housing Services is Australia's largest community housing provider.
As a not-for-profit organisation, we aim to alleviate the hardship of housing stress for low to moderate income earning households by providing secure and affordable accomodation, as well as delivering housing products for disadvantaged people who have difficulties sourcing adequate and affordable housing.
We continuously work to increase the supply of accommodation solutions for our potential clients, properly maintaining assets and assisting clients in sustaining their tenancies.
2014 Report Card
| key performance indicators | 2014 | 2013 | 2012 |
|---|---|---|---|
| Tenant Satisfaction | |||
| Overall satisfaction with the organisation | 89% | 88% | 86% |
| Satisfaction with ways in which Compass involve tenants | 90% | 89% | 89% |
| Satisfaction with ways in which Compass communicate with tenants | 87% | 87% | 88% |
| label | 2014 | 2013 | 2012 |
|---|---|---|---|
| Service Development | |||
| Total Properties Managed as at 30 June | 3,317 | 3,245 | 3,349 |
| Total Properties Managed under Housing NSW Programs | 2,881 | 2,882 | 2,826 |
| label | 2014 | 2013 | 2012 |
|---|---|---|---|
| Financial Management | |||
| Cash at end of year | $27.5 M | $17.3 M | $11.9 M |
| Net Profit | $21.9 M | $4.9 M | $19.2 M |
| (Net Operating Profit ex Capital Grants / Contributions) | $8.3 M | $4.9 M | $5.7 M |
| Retained Profit | $192.4 M | $170.5 M | $169.8 M |
| label | 2014 | 2013 | 2012 |
|---|---|---|---|
| Housing Management | |||
| Arrears | 2.0% | 2.0% | 1.5% |
| Market Rent loss via void / vacancy | 2.3% | 1.5% | 2.0% |
| label | 2014 | 2013 | 2012 |
|---|---|---|---|
| Human Resources | |||
| Number of full time equivalent staff | 86 | 87 | 82 |
| Training Spend | $116K | $109K | $85K |
| label | 2014 | 2013 | 2012 |
|---|---|---|---|
| Maintenance | |||
| Combined maintenance expenditure | $5.2M | $6.2M | $5.7M |
| label | 2014 | 2013 | 2012 |
|---|---|---|---|
| Repairs & Maintenance Completions | |||
| Number of service requests raised | 15,040 | 14,614 | 18,349 |
| Number of service requests completed | 14,457 | 17,980 | 13,588 |
| label | 2014 | 2013 | 2012 |
|---|---|---|---|
| Social Inclusion | |||
| Number of tenants volunteering | 660 | 570 | 289 |
| Number of tenants participating in activities | 870 | 488 | 176 |
3,317
PROPERTIES
MANAGED
6,559
people assisted
89%
OF TENANTS ARE
SATISFIED WITH
COMPASS SERVICES
69
NEW PROPERTIES
ADDED TO OUR
PORTFOLIO
Our Housing
COMPASS’ COMMUNITY HOUSING PORTFOLIO ENCOMPASSES:
The strength of Compass is our commitment to improve community wellbeing and liveability for our tenants.
Community
Compass provides a range of tenant participation and community projects including:
- PEOPLE PLACE PERFORMANCE
- THE MEETING PLACE
- COMPASS GROW PROGRAM
- TENANT INCENTIVE SCHEME
- COMPASS CONNECT FUNDING
$35M
Current Assets
$22M
Comprehensive Income
$192M
Equity
$30M
Tenant Income
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.
Summary Statement of Financial Position
As At 30 June 2014
| assets | 2014 | 2013 |
|---|---|---|
| CURRENT ASSETS | ||
| Cash and cash equivalents | $17,759,553 | $11,776,097 |
| Trade and other receivables | $6,543,065 | $5,153,209 |
| Other financial assets | $9,821,268 | $5,527,543 |
| Other assets | $594,838 | $830,179 |
| Non-current assets held for sale | $240,000 | $1,750,000 |
| TOTAL CURRENT ASSETS | $34,958,724 | $25,037,028 |
| NON CURRENT ASSETS | ||
| Other assets | $1,250 | $1,700 |
| Other financial assets | $124,141 | $122,639 |
| Property, plant and equipment | $647,382 | $740,859 |
| Investment property | $194,045,234 | $173,158,538 |
| Intangible assets | $109,505 | $62,334 |
| TOTAL NON CURRENT ASSETS | $194,927,512 | $174,086,070 |
| TOTAL ASSETS | $229,886,236 | $199,123,098 |
| LIABILITIES | ||
| CURRENT LIABILITIES | ||
| Trade and other payables | $2,305,589 | $1,992,566 |
| Borrowings | $1,269,372 | $1,281,917 |
| Short-term provisions | $698,755 | $600,626 |
| Other liabilities | $11,090,553 | $4,578,167 |
| TOTAL CURRENT LIABILITIES | $15,364,269 | $8,453,276 |
| NON CURRENT LIABILITIES | ||
| Borrowings | $21,984,153 | $20,096,044 |
| Long-term provisions | $115,500 | $42,948 |
| TOTAL NON CURRENT LIABILITIES | $22,099,653 | $20,138,992 |
| TOTAL LIABILITIES | $37,463,922 | $28,592,268 |
| NET ASSETS | $192,422,314 | $170,530,830 |
| EQUITY | ||
| Reserves | $115,089,886 | $115,089,886 |
| Accumulated surpluses | $77,332,428 | $55,440,944 |
| TOTAL EQUITY | $192,422,314 | $170,530,830 |