CAAB Prepares to Close Operations by December 31, 2024

We have an important update to share. After thorough consideration and careful evaluation of the organization’s current status, the Board of Directors has made the difficult decision to discontinue program operations effective December 31 and ultimately dissolve Capital Area Asset Builders (CAAB). This decision was made with deep respect for CAAB’s mission and the community we have served for a quarter century.

For 25 years, CAAB has been unwavering in its mission to support individuals and families in achieving economic mobility. In 2023 alone, the organization distributed nearly $4 million through its Matched Savings, Cash Transfer, and Guaranteed Income programs, directly impacting the lives of 1,000 beneficiaries. Over the past five years, CAAB has distributed $13.2 million, significantly aiding more than 3,100 individuals and families on their path to financial stability and growth. These accomplishments reflect our commitment to fostering lasting change and empowering communities.

While this is not the final chapter we envisioned, we remain deeply grateful for the support we have received from the community, funders, and partners. We will continue to prioritize communication with our stakeholders throughout the dissolution process to ensure the transition is handled with integrity and fidelity. To our clients: thank you for your trust and patience as we navigate this challenging time and work to ensure that you continue to receive the support and resources you need.

Thank you for your partnership.

Sincerely,
Board of Directors
Capital Area Asset Builders