CAPITAL AREA ASSET BUILDING CORPORATION (EIN 522002672) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1996

Legal Domicile

Principal Officer

KATHRYN STEPHENS

Phone

2024191440

Tax Period

2024-01-01 to 2024-12-31

CAPITAL AREA ASSET BUILDING CORPORATION, founded in 1996, is a community nonprofit in the Community Improvement sector that reported $2.2M in total revenue in fiscal year 2024. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $3.4M exceeded revenue, resulting in a 58% operating deficit.

Mission

EMPOWER LOW TO MODERATE-INCOME INDIVIDUALS IN THE WASHINGTON METRO REGION TO ACHIEVE PROSPERITY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,967,144

Program Service Revenue $145,492

Investment Income $66,906

Other Revenue $0

TOTAL REVENUE $2,179,542

Expense Breakdown

Grants Paid $458,202

Salaries & Benefits $1,560,420

Fundraising Expenses $20,567

Program Expenses $1,983,096

Other Expenses $1,425,734

TOTAL EXPENSES $3,444,356

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,179,542	$3,000,582	-0.3%
Expenses	$3,444,356	$3,764,655	-0.1%
Net Income	$-1,264,814	$-764,073	+0.7%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$273,223

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH LEITMANN-SANTA CRUZ	EXECUTIVE DIRECTOR THROUGH JUNE 2024	40.00	Officer	$131,627	$49,096	$180,723
KATHRYN STEPHENS	INTERIM EXECUTIVE DIRECTOR FROM JULY 2024	40.00	Officer	$92,500	$0	$92,500
NICOLE JONES	DIRECTOR OF MATCH SAVINGS	40.00	Highest	$108,762	$2,348	$111,110
JOSEPH VAUGHAN	PRESIDENT	4.00	Officer Director	$0	$0	$0
GAIL REISMAN	SECRETARY	4.00	Officer Director	$0	$0	$0
WILLIAM SPINNELL	TREASURER	4.00	Officer Director	$0	$0	$0
GABRIEL LAZARUS	DIRECTOR	1.00	Director	$0	$0	$0
SHEIDA ELMI	DIRECTOR	1.00	Director	$0	$0	$0
MICHELLE LEVISTER	DIRECTOR	1.00	Director	$0	$0	$0
SHAE HARRIS	DIRECTOR	1.00	Director	$0	$0	$0
PAUL HARRIS JR	DIRECTOR	1.00	Director	$0	$0	$0
RYAN PALMER	DIRECTOR	1.00	Director	$0	$0	$0
WAYNE CHOPUS	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$2,179,542	$3,444,356	$3,474,274	$-1,264,814
2023	$3,000,582	$3,764,655	$19,254,357	$-764,073
2022	$3,549,789	$2,597,779	$9,210,791	$952,010
2021	$2,444,972	$1,910,549	$6,254,812	$534,423
2020	$3,577,464	$2,657,517	$3,584,279	$919,947
2019	$2,562,824	$2,162,872	$2,260,592	$399,952
2018	$2,355,562	$2,549,321	$1,601,918	$-193,759

CAPITAL AREA ASSET BUILDING CORPORATION