Nonprofit · EIN 52-2002672
CAPITAL AREA ASSET BUILDING CORPORATION
Tax-exempt · WASHINGTON, DC 20002
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,179,542 | $3,444,356 | -$1,264,814 | $3,474,274 | $2,392,224 | $1,082,050 |
| December 31, 2023 | 990 | $3,000,582 | $3,764,655 | -$764,073 | $19,254,357 | $16,858,924 | $2,395,433 |
| December 31, 2021 | 990 | $2,444,972 | $1,910,549 | $534,423 | $6,254,812 | $4,047,316 | $2,207,496 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,967,144
- of which government grants
- $768,669
- Program service revenue
- $145,492
- Investment income
- $66,906
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $458,202
- Compensation of officers, directors and key employees
- $273,202
- Other salaries and wages
- $912,070
- Salaries, compensation and benefits (total)
- $1,560,420
- Professional fundraising fees
- $0
- Legal fees
- $67,657
- Accounting fees
- $252,101
- Occupancy
- $242,849
- Travel
- $25,445
- Depreciation
- $15,885
- Program services (functional)
- $1,983,096
- Management and general (functional)
- $1,440,693
- Fundraising (functional)
- $20,567
Balance sheet and other
- Total assets, start of year
- $19,350,398
- Total assets, end of year
- $3,474,274
- Total liabilities, end of year
- $2,392,224
- Net assets, end of year
- $1,082,050
- Land, buildings and equipment
- $2,152
- Net assets without donor restrictions
- $948,420
- Net assets with donor restrictions
- $133,630
- Gross receipts
- $2,179,542
- Employees
- 17
- Volunteers
- 10
- Year formed
- 1996
- State of legal domicile
- DC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOSEPH LEITMANN-SANTA CRUZ | EXECUTIVE DIRECTOR THROUGH JUNE 2024 Officer | 40 | $131,627 | $49,096 |
| NICOLE JONES | DIRECTOR OF MATCH SAVINGS Highest-paid employee | 40 | $108,762 | $2,348 |
| KATHRYN STEPHENS | INTERIM EXECUTIVE DIRECTOR FROM JULY 2024 Officer | 40 | $92,500 | $0 |
| JOSEPH VAUGHAN | PRESIDENT Trustee or director, Officer | 4 | $0 | $0 |
| GAIL REISMAN | SECRETARY Trustee or director, Officer | 4 | $0 | $0 |
| WILLIAM SPINNELL | TREASURER Trustee or director, Officer | 4 | $0 | $0 |
| GABRIEL LAZARUS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SHEIDA ELMI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHELLE LEVISTER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SHAE HARRIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PAUL HARRIS JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RYAN PALMER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| WAYNE CHOPUS | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOSEPH LEITMANN-SANTA CRUZ | EXECUTIVE DIRECTOR Officer | 40 | $208,997 | $79,676 |
| CONNIE WOODLAND | CHIEF OPERATING OFFICER Highest-paid employee | 40 | $136,563 | $40,547 |
| JOSEPH VAUGHAN | PRESIDENT Trustee or director, Officer | 4 | $0 | $0 |
| GAIL REISMAN | SECRETARY Trustee or director, Officer | 4 | $0 | $0 |
| WILLIAM SPINNELL | TREASURER Trustee or director, Officer | 4 | $0 | $0 |
| GABRIEL LAZARUS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SHEIDA ELMI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHELLE LEVISTER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SHAE HARRIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PAUL HARRIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RYAN PALMER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| WAYNE CHOPUS | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2021: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOSEPH LEITMANN-SANTA CRUZ | EXECUTIVE DIRECTOR Officer | 40 | $166,605 | $70,949 |
| CONNIE WOODLAND | CHIEF OPERATING OFFICER Highest-paid employee | 40 | $104,745 | $25,888 |
| ROBERT BURNS | PRESIDENT Trustee or director, Officer | 4 | $0 | $0 |
| IYON JOHNSON | VICE PRESIDENT Trustee or director, Officer | 4 | $0 | $0 |
| SHEIDA ELMI | SECRETARY Trustee or director, Officer | 4 | $0 | $0 |
| WILLIAM SPINNELL | TREASURER Trustee or director, Officer | 4 | $0 | $0 |
| ROBERT KIRKLAND | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LEE DAVENPORT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOSEPH VAUGHN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBERT TASHIMA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PAUL HARRIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GABRIAL LAZARUS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GAIL REISMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHELLE LEVISTER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LEIGH TIVOL - RESIGNED | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 712 H ST NE STE 1799, WASHINGTON, DC 20002-3627
- Principal officer (990 for 2024)
- KATHRYN STEPHENS, 712 H STREET NE SUITE 1799, WASHINGTON, DC 20002
- Signed the 990
- KATHRYN STEPHENS, INTERIM EXECUTIVE DIRECTOR
- Phone
- (202) 419-1440
- Website
- WWW.CAAB.ORG
- Return prepared by
- SNYDER COHN PC
Mission
TO CREATE OPPORTUNITIES FOR LOW- AND MODERATE-INCOME INDIVIDUALS IN THE GREATER DC REGION TO BUILD FINANCIAL SECURITY, SAVINGS, AND WEALTH FOR THE FUTURE.
Program accomplishments
- SAVINGS PROGRAMS - CAAB ENCOURAGES PEOPLE TO SAVE MONEY THROUGH ITS SAVINGS PROGRAMS. THESE PROGRAMS ARE OFFERED TO ELIGIBLE PARTICIPANTS WHO MEET PROGRAM GUIDELINES. THE PROGRAM IS A WAY FOR INDIVIDUALS TO SAVE MONEY AND INVEST IN THEIR FUTURE OR THE FUTURE OF THEIR FAMILY AND YOUTH. USE OF FUNDS CAN BE FOR HOME PURCHASE, SMALL BUSINESS, EDUCATION, AND CHILDREN SAVINGS ACCOUNTS AS WELL AS MEDICAL AND BURIAL EXPENSES.Expenses $1,697,434 · grants $433,202
- FINANCIAL EDUCATION - CAAB PROVIDES CREDIT COUNSELING SESSIONS, AND SPONSORS SEMINARS AND WORKSHOPS ON A WIDE RANGE OF FINANCIAL TOPICS SUCH AS: SETTING FINANCIAL GOALS, DEVELOPING AND MANAGING A SPENDING PLAN, CHOOSING FINANCIAL PRODUCTS AND SERVICES, UNDERSTANDING CREDIT, MANAGING DEBT, SAVING FOR COLLEGE, UNDERSTANDING THE BASICS OF INVESTING, AND SAVING FOR RETIREMENT. CAAB REQUIRES THAT IDA ENROLLEES COMPLETE THE MONEY MANAGEMENT 101 CURRICULUM BEFORE MATRICULATING INTO THE MATCHED SAVINGS PROGRAM. CAAB BELIEVES THIS WILL INCREASE SAVINGS PARTICIPATION AND RENTENTION RATES, AS WELL AS BETTER INFORM SAVERS ON THE USAGE OF THEIR ASSETS.Expenses $4,957 · revenue $145,492
- EITC - THE DC EARNED INCOME TAX CREDIT (EITC) CAMPAIGN RECRUITS AND TRAINS HUNDREDS OF VOLUNTEERS TO PREPARE TAX RETURNS, PROVIDE SAVINGS AND FINANCIAL EDUCATION INFORMATION, AND EDUCATE LOW-WAGE WORKERS DURING THE TAX SEASON. MANY LOW-INCOME FAMILIES RECEIVE FREE TAX FILING ASSISTANCE AT DC CAMPAIGN TAX SITES, ENABLING THEM TO ACCESS TAX REFUNDS RESULTING FROM TAX CREDITS FOR LOWER INCOME WORKERS.Expenses $280,705 · grants $25,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 52-2002672
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1997
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S20)
- Assets (IRS master file)
- $3,474,274
- Income (IRS master file)
- $2,179,542
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,179,542 | $3,444,356 | $3,474,274 | XML |
| 990 | December 2023 | $3,000,582 | $3,764,655 | $19,254,357 | XML |
| 990 | December 2022 | $3,549,789 | $2,597,779 | $9,210,791 | IRS |
| 990 | December 2021 | $2,444,972 | $1,910,549 | $6,254,812 | XML |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 52-2002672).
Questions about CAPITAL AREA ASSET BUILDING CORPORATION
- What is the EIN of CAPITAL AREA ASSET BUILDING CORPORATION?
- The employer identification number (EIN) of CAPITAL AREA ASSET BUILDING CORPORATION is 52-2002672.
- Is CAPITAL AREA ASSET BUILDING CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1997.
- Are donations to CAPITAL AREA ASSET BUILDING CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CAPITAL AREA ASSET BUILDING CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CAPITAL AREA ASSET BUILDING CORPORATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CAPITAL AREA ASSET BUILDING CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of CAPITAL AREA ASSET BUILDING CORPORATION?
- The 990 for the year ended December 31, 2024 names KATHRYN STEPHENS.
- Who are the officers and directors of CAPITAL AREA ASSET BUILDING CORPORATION?
- The 990 for the year ended December 31, 2024 lists 13 people; 3 received compensation from the organization, the highest $131,627 (JOSEPH LEITMANN-SANTA CRUZ, EXECUTIVE DIRECTOR THROUGH JUNE 2024).
- How much revenue does CAPITAL AREA ASSET BUILDING CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,179,542, expenses of $3,444,356 and total assets of $3,474,274 at year end.
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