Overview
What is Capital Area Asset Building Corporation?
Capital Area Asset Building Corporation (CAAB) is a nonprofit organization situated in Washington, D.C., specifically at 1100 15th Street NW, 4th Floor. Their mission is to empower low to moderate-income individuals residing in the Washington metropolitan area, aiding them in achieving prosperity. CAAB accomplishes this by providing savings programs, encouraging eligible participants to save money and invest in their future or their family's. These savings can be utilized for various purposes such as home purchases, small businesses, education, children's savings accounts, medical expenses, and burial costs. CAAB's primary objective is to create opportunities for financial security, savings, and wealth for individuals in the greater DC region. The organization has a staff of 13 dedicated individuals working towards this mission.
Official website here: www.caab.org
What are the reviews and ratings of this charity?
88% rating from Charity Navigator
Capital Area Asset Building Corporation (CAAB) has received a Three-Star out of Four Star rating, indicating a solid performance in accountability and finance. With a strong score of 86 in this category, CAAB demonstrates effective governance and financial transparency, as evidenced by its independent board and robust financial policies. However, the organization could improve its liabilities to assets ratio and fundraising efficiency, as these areas received lower scores.
User feedback highlights the positive impact CAAB has had on individuals and families, particularly those from low to moderate-income backgrounds. Clients consistently commend the organization's programs, such as the Matched Savings Grant and financial literacy workshops, which have helped many achieve personal financial goals, including starting businesses and purchasing vehicles. The staff is often noted for their support and dedication to client success, fostering a sense of community and hope.
Despite the overwhelmingly positive reviews, there may be some skepticism among potential clients about the programs due to initial doubts. However, once individuals engage with CAAB, their experiences tend to be transformative, leading to significant improvements in their financial situations. Overall, CAAB is well-regarded for its mission to empower community members through financial education and support.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Capital Area Asset Building Corporation legitimate?
Capital Area Asset Building Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Capital Area Asset Building Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $258,900
Professional Fundraising Fees: $0
Other Salaries and Wages: $435,318
For more financial information, click here
Official website here: www.caab.org
What is the mission statement of Capital Area Asset Building Corporation?
The Capital Area Asset Building Corporation's mission is centered around empowering low to moderate-income individuals to achieve prosperity. This is accomplished by creating opportunities for these individuals to build financial security, savings, and wealth for their future. The corporation achieves this through various savings programs, allowing eligible participants to save money and invest in their future or their family's future. The funds can be utilized for various purposes such as home purchases, small businesses, education, children's savings accounts, medical expenses, and burial costs.
Official website here: www.caab.org
Who is the CEO of Capital Area Asset Building Corporation?
Joseph Leitmann-Santa Cru is the Principal Officer of Capital Area Asset Building Corporation.
Official website here: www.caab.org
What is the revenue of Capital Area Asset Building Corporation?
Capital Area Asset Building Corporation's revenue in 2022 was $3,549,789.
Official website here: www.caab.org
Who are the executives of Capital Area Asset Building Corporation and what are their salaries?
The average compensation at Capital Area Asset Building Corporation during 2022 was $53,401. There are 13 employees and 25 volunteers at Capital Area Asset Building Corporation.
Here are 13 key members and their salaries:
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- Compensation: $174,647
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- Other: $83,160
- Compensation: $108,925
- Related: $0
- Other: $36,561
Official website here: www.caab.org
Where can I find the form 990 for Capital Area Asset Building Corporation?
Capital Area Asset Building Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.caab.org
Learn more at the official website: www.caab.org
Mission Statement of Capital Area Asset Building Corporation
Capital Area Asset Building Corporation, or CAAB, is an organization dedicated to empowering low to moderate-income individuals in the Washington metro region. Its mission is to create opportunities for these individuals, enabling them to build financial security, savings, and wealth for their future. CAAB achieves this by encouraging people to save money through its savings programs. Eligible participants, who meet the program guidelines, can use the saved funds for various purposes, such as purchasing a home, starting a small business, funding education, establishing children's savings accounts, and covering medical and burial expenses. By participating in CAAB's savings programs, individuals in the greater DC region can secure their financial future and improve their overall quality of life.
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Impact
July, 2024
Capital Area Asset Building Corporation empowers low to moderate-income individuals in the Washington metro region to achieve prosperity through its various savings programs. By encouraging people to save money and invest in their future, CAAB helps participants build financial security, savings, and wealth for the future. These programs offer opportunities for participants to save towards goals such as home purchase, small business ventures, education, children's savings accounts, as well as for medical and burial expenses. Overall, CAAB's impact is evident in its commitment to creating opportunities for individuals in the greater DC region to improve their financial well-being and work towards economic stability.
This information is meant to be a general summary of Capital Area Asset Building Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $2,648
- Program Service Revenue: $166,859
- Gross Receipts: $3,549,789
Assets and Liabilities:
- Total Assets: $9,210,791
- Total Liabilities: $6,051,285
- Net Assets: $3,159,506
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FINANCIAL EDUCATION
Revenue
$166,859
Organization Details
Founding Year
1996
Phone
(202) 419-1440Principal Officer
Joseph Leitmann-Santa Cru
Main Address
1100 15TH STREET NW 4TH FLOOR, WASHINGTON, DC, 20005
Website
www.caab.orgNTEE Category
Code: S20 - Community improvement
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