Capital Area Asset Building Corporation

Analysis

Capital Area Asset Building Corporation is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in June 1997, 29 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Capital Area Asset Building Corporation reported income of $3.0m and spending of $3.8m, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.6m to $3.0m (+17%), an average of +4.0% a year. The sharpest change came in the year to December 2022, when income rose by 45%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Capital Area Asset Building Corporation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 73rd percentile within DC. Charities of a similar size with the same main cause include Belle Isle Conservancy ($3.0m), Fondo de Inversion Y Desarrollo Cooperative Inc ($3.0m) and Eastern Oregon Workforce Investment Board ($3.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 6.8% of the total. Compensation of current officers, directors and key employees was $289k (7.7% of expenses). Other salaries and wages came to $848k. At year end it held assets of $19.3m against liabilities of $16.9m, net assets of $2.4m. It reported 14 employees.