CAAB Ceases Program Operations December 2024
For 25 years, CAAB has been unwavering in its mission to support individuals and families in achieving economic mobility. Over the past five years, CAAB distributed more than $13.2 million through its Matched Savings, Cash Transfer, and Guaranteed Income programs, directly impacting the lives of 1,000 beneficiaries and significantly aiding more than 3,100 individuals and families on their path to financial stability and growth. These accomplishments reflected our commitment to fostering lasting change and empowering communities, driven by the stated vision of “A metropolitan region where birthplace, race, and the Zip code we live in don’t limit economic opportunity and optimism.”
CAAB is grateful to have served the DC community over the years, and it is with a heavy heart that we share that after careful consideration, in late 2024 the Board of Directors made the difficult decision to end program operations effective December 31,2024.
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 spend the early part of 2025 moving through the dissolution process to ensure this transition is handled with integrity and fidelity. To our clients: we thank you for your trust and patience as we work with program partners to ensure that you continue to receive the support and resources you need.
From overcoming challenged to achieving significant milestones, these stories highlight the real-world impact of our offerings.​
“I wanted my clients to have access to great quality work. I know that if I do a good job they will treasure those photographs because they highlight major events in their lives like weddings, pregnancies, birthday parties as well as corporate events. In order to do this you need to have the right equipment. I couldn’t afford the equipment or get a loan from a bank. CAAB’s financial education classes taught me to budget and save.
This was very important for me and for my business.”
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- Dion
“Saving money can seem pretty daunting, but there are certainly ways to streamline the process and take the pressure off of remembering to deposit money regularly. What worked for me? Automating my paycheck to deposit a certain amount of my earnings directly into the savings account every month and setting my goals and expectations early and staying timely.”
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- Saskia
“I joined EmergencySavingsPlus to start an emergency savings account so my son and I could have money for a rainy day when those emergencies come up. I wanted to also change the cycle of people not saving by showing my son that I could save money and how to save money. CAAB assisted me in setting my financial goals by challenging me to save at least $50 a month.”
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- Sabrina
Our Impact in 2023
We are fully committed to advancing CAAB’s mission for the benefit of low- and moderate-income Black, Latinx and immigrant families in Washington, DC, and throughout the greater DC metro region.
$3,911,420.50 was distributed for the benefit of 1,000 clients.
Clients benefitted over the course of the past five years: 3,145
Funds distributed over the course of the past five years: $13,264,416.06
In Total for 2023