Friday, January 8, 2010

Seattle Business Journal: LATCH, Compass Center merge

Today's Puget Sound Business Journal has an article profiling the merger of local non-profits LATCH and Compass Center.

LATCH developed and operates the Longfellow and Westwood Court Cooperatives at 9401-9425 27th Avenue SW (map).

Here's the full statement by the leadership of the organizations:

Compass Center and LATCH merger official
New agency will be known as Compass Housing Alliance
Nov 23, 2009

LATCH (Lutheran Alliance to Create Housing) and The Compass Center will merge starting January 1, 2010.

Our merger unites two important services in the Puget Sound area. LATCH develops and maintains affordable housing, creates resident-managed rental cooperatives, and advocates for public policies that address the needs of our communities. The Compass Center provides transitional and emergency services to homeless men and women and families. Together we can provide a continuum of service for those in need in our area.

The merger between LATCH and the Compass Center provides the new organization with a good combination of talent sets. The Compass Center brings a combination of leadership strength, financial expertise, and social services program capacity. LATCH brings an experienced property development capacity, asset management expertise, compliance and organizational operating systems experience, and a strong network of member churches.

Together, we are uniquely positioned to provide the Seattle and King County areas with the most comprehensive set of solutions available to members of our community who are homeless or in need of affordable housing and a supportive community.

LATCH and the Compass Center anticipate a successful merger based on our common Lutheran background and similar core missions. We look forward to a number of positive changes that will benefit the agency and the people we serve, including the following:
• The agency will house a more efficient and complete spectrum of housing and services.
• Our financial strength will be increased and we anticipate a greater opportunity for obtaining funds.
• The merger will provide an opportunity to recommit to our relationship with the Lutheran Church and create a stronger presence in the community at large.

The new agency will be called Compass Housing Alliance and will be will be governed by a newly formed independent board of directors. Rick Friedhoff will serve as the Executive Director.

No comments: