2025-07-03T09:27:48-05:00 2024-12-31 521022232 SNYDER COHN PC 11200 ROCKVILLE PIKE SUITE 415 NORTH BETHESDA MD 20852 990 2024-01-01 522002672 CAPITAL AREA ASSET BUILDING CORPORATION CAPI 2024191440 712 H STREET NE SUITE 1799 WASHINGTON DC 20002 KATHRYN STEPHENS INTERIM EXECUTIVE DIRECTOR 2023326470 2025-07-02 1 0 KEITH JENNINGS P01319883 3016526700 2025-07-02 2024 2025-03-06 01:10:19Z X CAAB KATHRYN STEPHENS 712 H STREET NE SUITE 1799 WASHINGTON DC 20002 2179542 0 X WWW.CAAB.ORG X 1996 DC EMPOWER LOW TO MODERATE-INCOME INDIVIDUALS IN THE WASHINGTON METRO REGION TO ACHIEVE PROSPERITY. 10 10 17 10 0 0 2756963 1967144 203641 145492 39978 66906 0 0 3000582 2179542 1295926 458202 0 0 1589826 1560420 0 0 20567 878903 1425734 3764655 3444356 -764073 -1264814 19350398 3474274 17003534 2392224 2346864 1082050 X TO CREATE OPPORTUNITIES FOR LOW- AND MODERATE-INCOME INDIVIDUALS IN THE GREATER DC REGION TO BUILD FINANCIAL SECURITY, SAVINGS, AND WEALTH FOR THE FUTURE. 0 1 1697434 433202 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. 4957 145492 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. 280705 25000 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. 1983096 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 17 0 1 17 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 DC X KATHRYN STEPHENS 2023326470 1100 15TH STREET NW 4TH FLOOR WASHINGTON DC 20005 JOSEPH LEITMANN-SANTA CRUZ EXECUTIVE DIRECTOR THROUGH JUNE 2024 40.00 X 131627 0 49096 KATHRYN STEPHENS INTERIM EXECUTIVE DIRECTOR FROM JULY 2024 40.00 X 92500 0 0 NICOLE JONES DIRECTOR OF MATCH SAVINGS 40.00 X 108762 0 2348 JOSEPH VAUGHAN PRESIDENT 4.00 X X 0 0 0 GAIL REISMAN SECRETARY 4.00 X X 0 0 0 WILLIAM SPINNELL TREASURER 4.00 X X 0 0 0 GABRIEL LAZARUS DIRECTOR 1.00 X 0 0 0 SHEIDA ELMI DIRECTOR 1.00 X 0 0 0 MICHELLE LEVISTER DIRECTOR 1.00 X 0 0 0 SHAE HARRIS DIRECTOR 1.00 X 0 0 0 PAUL HARRIS JR DIRECTOR 1.00 X 0 0 0 RYAN PALMER DIRECTOR 1.00 X 0 0 0 WAYNE CHOPUS DIRECTOR 1.00 X 0 0 0 332889 0 51444 2 0 1 0 JACKSON LEWIS PC 1133 WESTCHESTER AVENUE SUITE S-12 WEST HARRISON NY 10604 LEGAL SERVICES 161251 KAH CONSULTING LLC 7272 WISCONSIN AVENUE FLOOR 9 BETHESDA MD 20814 CONSULTING 112500 2 768669 1198475 1967144 FINANCIAL EDUCATION 541900 145492 145492 145492 66906 66906 2179542 145492 0 66906 25000 25000 433202 433202 273202 120218 136612 16372 912070 672055 240015 27198 18669 8529 241189 175632 65557 106761 72457 33102 1202 67657 67657 252101 2235 249866 233678 132322 100460 896 22243 21108 1051 84 57207 45688 11420 99 40068 32388 7614 66 242849 110259 131448 1142 25445 21910 3414 121 10036 7856 2161 19 1024 465 554 5 15885 7212 8598 75 37690 17112 20401 177 SETTLEMENT 293526 293526 DUES AND SUBSCRIPTIONS 52045 41782 10119 144 MISCELLANEOUS 37484 21413 15936 135 LOSS ON DISPOSAL OF FIX 29239 29239 7557 4113 3414 30 3444356 1983096 1440693 20567 1881447 408251 17253168 2741828 77546 94165 49016 200069 5000 0 29741 27809 3038 886 31980 2152 22500 0 19350398 3474274 191069 198880 677414 0 37206 0 16097845 2193344 17003534 2392224 X 2008354 948420 338510 133630 2346864 1082050 19350398 3474274 -1264814 0 X X 0 1 X 1 0 X 3483687 2299866 3380282 2756963 1967142 13887940 3483687 2299866 3380282 2756963 1967142 13887940 1314929 12573011 10780 2381 2648 44409 66906 127124 997 25 2 1024 14016088 740692 0.89700 0.90160 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 464297 131868 232502 363663 0 3038 886 2152 2152 ADVANCES PAYABLE 2193344 2193344 X 2257315 77773 77773 2179542 0 2179542 3522129 77773 77773 3444356 0 3444356 PART IV, LINE 1B: CAAB IS A CUSTODIAN OF ESCROW ACCOUNTS FOR PARTICIPANTS IN THEIR MATCHED SAVINGS PROGRAM. THE FUNDS ARE DEPOSITED INTO INDIVIDUAL ACCOUNTS AND TRANSFERRED FROM CAAB'S BANK ACCOUNTS UPON COMPLETION OR EXITING THE PROGRAM. CAAB ALSO 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. PART X, LINE 2: CAAB ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX EFFECT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR UNCERTAIN TAX POSITIONS. INTEREST AND PENALTIES, IF ANY, ARE ACCRUED AS A COMPONENT OF GENERAL AND ADMINISTRATIVE EXPENSES WHEN ASSESSED. CAAB IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION. SIMILAR TO OTHER TAX-EXEMPT ORGANIZATIONS, CAAB IS SUBJECT TO TAX ON UNRELATED BUSINESS INCOME. TAX YEARS PRIOR TO 2021 ARE NO LONGER SUBJECT TO EXAMINATION BY THE IRS OR THE TAX JURISDICTION OF THE DISTRICT OF COLUMBIA. DURING THE YEARS ENDED DECEMBER 31, 2024 AND 2023, CAAB DID NOT HAVE NET TAXABLE INCOME FROM UNRELATED BUSINESS ACTIVITIES; THEREFORE, THERE IS NO PROVISION IN THESE FINANCIAL STATEMENTS FOR INCOME TAXES OR INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS. 1 CATHOLIC CHARITIES 924 G STREET NW WASHINGTON DC 20001 530196524 501(C)(3) 25000 0 DC EITC PROGRAM 1 PARTNER MATCH SAVINGS PROGRAM 261 433202 PART I, LINE 2: GRANT FUNDS ARE SET UP AND MONITORED IN CAAB'S ACCOUNTING AND PROGRAM MANAGEMENT SYSTEMS. THE INITIAL AMOUNT OF GRANT FUNDS RECEIVED AND THE ON-GOING WITHDRAWAL OF FUNDS ARE RECORDED IN BOTH SYSTEMS. THESE SYSTEMS ARE RECONCILED AT THE END OF EACH MONTH TO ENSURE THAT THEY BOTH REFLECT THE SAME ENDING BALANCE AND THAT ALL DEBITS AND CREDITS IN THE ACCOUNTING RECORDS BALANCE. ANNUAL AND QUARTERLY REPORTS ARE SUBMITTED TO THE GRANTOR. X X 0 0 0 0 0 0 0 0 0 JOSEPH LEITMANN-SANTA CRUZ EXECUTIVE DIRECTOR THROUGH JUNE 2024 104556 0 27071 0 0 0 23000 0 26096 0 180723 0 0 0 PART I, LINE 3 EXECUTIVE DIRECTOR SALARY IS VOTED ON AND APPROVED BY THE BOARD OF DIRECTORS FORM 990, PART III, LINE 3 THE ORGANIZATION'S BOARD OF DIRECTORS APPROVED THE LIQUIDATION AND DISSOLUTION OF THE ORGANIZATION EFFECTIVE DECEMBER 31, 2024 AND STARTED TO WIND DOWN CAAB'S PROGRAMS. FORM 990, PART VI, SECTION B, LINE 11B AN ELECTRONIC COPY OF THE 990 IS CIRCULATED BY THE CHAIR OF THE FINANCE COMMITTEE TO THE BOARD MEMBERS FOR REVIEW PRIOR TO FILING. THE 990 IS APPROVED BY THE FINANCE COMMITTEE ALONG WITH THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION B, LINE 12C EACH EMPLOYEE HAS BEEN PROVIDED WITH AN EMPLOYEE POLICY HANDBOOK WHICH INCLUDES A CONFLICT OF INTEREST STATEMENT. THE EMPLOYEE MUST ACKNOWLEDGE HIS/HER KNOWLEDGE OF AND RESPONSIBILITY TO ADHERE TO COMPANY POLICIES BY SIGNING A FORM. THIS WRITTEN DISCLOSURE WILL BE KEPT ON FILE AND WILL BE UPDATED ANNUALLY AND AS NEEDED. AFTER DISCLOSURE, THE EMPLOYEE MAY NOT BE PERMITTED TO PARTICIPATE IN THE TRANSACTION OR DECISION THAT MAY CREATE A CONFLICT OF INTEREST. ALL BOARD MEMBERS ANNUALLY REVIEW AND UPDATE HIS/HER BOARD MEMBER AGREEMENT, WHICH INCLUDES THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR CAAB'S TOP EMPLOYEES IS DETERMINED BY COMPARISON TO OTHER SIMILAR ORGANIZATIONS. COMPENSATION FOR CAAB KEY STAFF POSITIONS IS DETERMINED BY WAGE EARNING STATISTICAL DATA FOR DC AREA AND IS APPROVED BY CAAB'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVALIABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: CAAB HAS A COMMITTEE THAT ASSUMES THE RESPONSIBILITY FOR OVERSEEING THE AUDIT. THIS PROCESS HAS NOT CHANGED FROM PREVIOUS YEARS.