Capital Area Asset Builders (CAAB) provides financial education and matched savings programs to help low-income residents of Washington, D.C. improve their financial skills and build assets. In 2007, CAAB educated over 200 individuals through financial workshops and enrolled 202 savers in programs where they saved $181,729 and earned $263,821 in matching funds for goals like homeownership, education, and business startups. CAAB also advocated for policies supporting residents' financial interests such as payday lending reform and equal tax incentives for college savings.

1. Capital Area Asset Builders creates opportunities
for people of all incomes to improve their financial management
skills, increase their savings, and build wealth. We believe that a
prosperous community is one in which everyone has incentives
and opportunities to save for the future.
Creating a City
of Savers
AnnualReport2007

2. CAAB’s
Vision&Values CAAB strives to
• Listen to and honestly represent
the experiences of our clients.
• Educate community leaders and
policymakers about factors that inhibit
savings and wealth creation in low-income
neighborhoods and households.
•Evaluate the outcomes of our programs and
engage in a process of continuous improvement.
• Foster collaboration among nonprofit,
for-profit, and public agencies that have a
shared interest in increasing financial literacy
and expanding economic opportunity in the
District of Columbia.
• Act in a fiscally responsible manner and channel
the majority of resources to District of Columbia
residents who need them.
CAAB by the
numbers in 2007
• The DC EITC Campaign—a citywide effort, coordinated
by CAAB, to educate taxpayers about federal and local
tax benefits, provide free tax preparation services, and
connect taxpayers to other financial supports—recruited
and trained more than 500 volunteers to
prepare tax returns and provide other support during
the tax season. During the 2007 filing season, more than
4,300 low-income taxpayers received free tax assistance
at tax sites hosted by the DC EITC Campaign, claiming
nearly $1.8 million through the EITC and
more than $5.3 million in total refunds.
• More than 200 individuals participated in
CAAB’s financial education programs, including our Money
Management 101 workshop series—a free 10-hour class
open to all Washington area residents that teaches basic
concepts related to budgeting, banking products, and
credit use; stand-alone financial seminars; and our Credit
in the Community classes, sponsored by the Annie E. Casey
Foundation to teach credit fundamentals to residents living
in Wards 7 and 8.
• CAAB enrolled 202 new savers in its Individual
Development Account (IDA) and Marriage Development
Account (MDA) savings programs. During the year, CAAB
savers deposited $181,729 in
their savings accounts and attended
training sessions to prepare for their goals
of buying a home, starting a business,
saving for college, or increasing their earning
potential through job training.
• 34 of our IDA and MDA savers bought
homes, 40 invested in education,
and 7 invested in small businesses.
With a combined savings of
$84,954, these clients earned $263,821
in matching funds and invested a total of
$348,755 in new assets.
“It’s good for me as a woman to know how
to manage my own financial affairs. I don’t
want to be old and broke. I can invest
wisely. I can invest in me and that’s what
CAAB has allowed me to do.”
– Jennie Huffman, grandmother of eight and lifelong
learner currently pursuing a degree in business
management using funds from her IDA.

3. They say that every dark cloud has a silver lining. If there is a
bright side to the financial storm that began rumbling in 2007 and
continues showering bad news today, it’s that financial managers
and consumers will return to the basic rules of good money man-
agement: spend less than you earn, and save as much as possible
for tomorrow’s goals.
For more than a decade, CAAB has helped thousands of DC residents achieve greater financial
security by teaching them how to manage their personal finances responsibly. We’ve supported more
than 1,300 prospective homebuyers, college students, and business owners through our matched
savings programs, and hundreds more have learned how to create and manage a budget and build
and repair their credit through our financial education classes and one-on-one counseling.
As the title of this report suggests, in 2007 we broadened our vision to support the financial aspirations
of all District residents. We launched DC Saves last April in partnership with more than 45 private,
nonprofit, and government institutions to encourage, motivate, and support Washingtonians in their
efforts to reduce their debts and increase their savings. Through social marketing, workshops, financial
fairs, and online resources, we are committed to making saving a priority again—one saver at a time.
We also raised our voice in 2007 on behalf of residents whose financial interests are not being served
by local policies or the financial services industry. We highlight a few of those initiatives in this report,
but acknowledge that there is still much work to be done to advocate for better laws and policies to
protect consumers’ financial interests and support their efforts to become self-sufficient.
Far from being deterred by the recent economic downturn, we are buoyed by a strong community of
supporters who realize that now is the time to multiply our efforts on behalf of those whose financial
security rests on a very weak safety net. As we reflect on another successful year, we are grateful to our
board of directors, donors, hundreds of volunteers, and dozens of partners. And we know that like us,
they will continue to be inspired by our clients, whose financial success speaks
powerfully to the wisdom of CAAB’s investment in the community.
Colleen Dailey
Executive Director
Dear
friends,

4. In partnership with the Consumer Federation of
America and America Saves, CAAB launched DC
Saves to motivate and support Washingtonians
in their efforts to reduce debt, save regularly, and
build wealth. As the coordinating agency for this
consumer education campaign, CAAB draws support
from banks, credit unions, regulatory agencies, and
social service providers to provide information,
advice, encouragement, and access to a wide array
of financial programs, products, and services. Our
goal is to reach every resident with the message that
they can save more and save smarter…no matter what
their income or current account balance.
Since our kick-off event in April 2007, which was
hosted by the Federal Deposit Insurance Corporation
(FDIC) and Chairman Sheila Bair, more than 400
individuals have enrolled as DC Savers and made
commitments to pay down debt or increase their
monthly savings over the next year.
Making the Case for Financial Education
As the sub-prime mortgage crisis began to unfold,
thought leaders and policymakers for the federal
and District government started to realize more
fully the importance of financial literacy in keeping
the economy healthy and protecting the long-term
financial interests of individuals. Armed with data
and success stories from its money management and
matched savings programs, CAAB provided testimony
at several DC Council hearings and roundtables illus-
trating the impact of financial education and making
a compelling case for a greater investment of public
resources in programs and services that promote
financial literacy.
Supporting Payday Lending Reform
The growth in payday lending in DC and other cities
is a prime example of a market failure that left
many consumers in need of a loan with little or no
option but a bad one. CAAB worked with a group of
advocates to build community support for The Payday
Loan Consumer Protection Amendment Act of 2007.
Introduced and championed by Councilmember Mary
Cheh, the new law requires payday lenders to adhere
to the District’s 24% interest cap on consumer loans.
To meet the needs of borrowers who got caught in
the cycle of debt that payday loans often create—
and others who simply want access to loans with fair
terms—CAAB continues to advocate for short-term
consumer loan products with lower interest rates and
longer installment periods.
Promoting Tax Fairness by Extending
College Savings Incentives to
All Residents
In 2007, the DC Council introduced legislation to
increase the annual tax deduction for DC College
Savings Plan contributions. CAAB and the DC Fiscal
Policy Institute argued for an alternative proposal to
change the tax deduction to a refundable credit so
that DC residents in the lowest tax bracket would get
the same benefit for each dollar contributed as their
peers in higher tax brackets. While the tax deduction
increase was passed, we succeeded in engaging
the DC College Savings Plan Advisory Board,
Council Chairman Vincent Gray, and DC
Treasurer Lasana Mack in a discus-
sion about the need to provide
equal incentives for families with
low household incomes and little or no
college savings. CAAB will continue to advo-
cate for tax policies that encourage those with
the least amount of disposable income to prioritize
long-term saving over spending.
Creating a City
of Savers

5. Snapshot
of CAAB’s Savers
Savings Goal
“Both my wife and I had been renting
for years, so owning our new home finally
gives us a sense of wealth and roots;
it’s something that is ours.”
– Marvin Talley, who with his wife Deborah, invested MDA funds
in the purchase of their first home.
Geography
17%
ward 1
14%
ward 4
13%
ward 5
22%
ward 7
20%
ward 8
73% women 27% men
Gender
2% Asian
Ethnicity
2% Caucasian
6% ward 2
3% Other
1% ward 3 7% ward 6
79% African American
14%
Latino
* CAAB’s savings programs are targeted to District of Columbia
residents earning 85% of the area median income or less
(for a family of 3, this is $45,985) and the majority of our
clients earn less than 200% of the federal poverty level
(for a family of 3, this is $35,241).
ANNUAL HOUSEHOLD Income*
Mean $28,946
Median $30,000
Range $5,607–$59,520
Photo
Credit:CFED
Since 1997, 424 CAAB savers have invested in
their dreams: 206 purchased their first homes, 38 have
invested in small businesses, and 180 have pursued
education or job training. They saved $396,358
and earned $1,268,017 in matching funds, for a
total asset investment of $1,664,375.
54% home
purchase
35%
education
11%
business

6. Capital Area Asset Builders
Statements of Activities and Changes in Net Assets for the Years Ended December 31, 2007 and 2006
2007 2006
Unrestricted Temporarily Total Unrestricted Temporarily Total
Restricted Restricted
REVENUE
Grants and contributions $ 189,766 $ 1,912,956 $ 2,102,722 $ 616,679 $ 1,314,510 $ 1,931,189
Membership dues 9,000 - 9,000 3,750 - 3,750
Interest income 91,936 - 91,936 84,933 - 84,933
Rental income - - - 4,250 - 4,250
In-kind contributions 1,920 1,920 9,300 9,300
Financial and education workshops 2,479 - 2,479 - - -
Net assets released from
donor restrictions 527,477 ( 527,477) - 159,741 (159,741) -
Total revenue 822,578 1,385,479 2,208,057 878,653 1,154,769 2,033,422
EXPENSES
Program Services 866,132 - 866,132 603,779 - 603,779
Fundraising 10,238 - 10,238 19,701 - 19,701
General and Administration 82,812 - 82,812 35,491 - 35,491
Total expenses 959,182 - 959,182 658,971 - 658,971
Changes in net assets (136,604) 1,385,479 1,248,875 219,682 1,154,769 1,374,451
Net assets at beginning of year 345,578 2,245,403 2,590,981 125,896 1,090,634 1,216,530
NET ASSETS AT END OF YEAR $ 208,974 $ 3,630,882 $ 3,839,856 $ 345,578 $ 2,245,403 $ 2,590,981
2007 operating
Income by Source
48%
district government
1% individuals
1% in-kind
contributions
15% federal
government
25%
corporations and
foundations
10% earned income
2007 matching
Funds by Source
1% individuals
72%
federal government
21% District
government
6% corporations
and foundations
2007 functional
Expenses by Category
90%
program services
1%
fundraising9% general and
administration
CAAB raises funds in order to match $3 for every $1 that is saved in an IDA or MDA. These matching funds enable our savers to purchase
homes, expand or start businesses, or continue their education and are classified as temporarily restricted in our financial statements.

7. Lead Investors
Citi
HSBC Foundation
Growth Investors
Bank of America
Calvert
The Annie E. Casey Foundation
Colleen Dailey Hamid Elaissami
Equity Management, Inc.
Richard M. Hall Heleny Cook
Maryland DC Credit
Union Association
Ellen Seidman
Wachovia Bank
The Zients Family Foundation
Saver Sponsors
AKF Consulting
AWARE (Americans Well-Informed
on Automobile Retailing
Economics)
CFED
Community Tax Aid, Inc.
Goya Foods
JBL Associates
Lori Kaplan
Thomas J. Knoll
Manna, Inc.
McGuire Williams, Inc.
Donna V.S. Ortega Keith M. Slack
PNC Bank
PRM Consulting
Nancy Register
Signal Financial FCU
University of Maryland
University College
Silent Auction Donors
20th Century Fox
Andre Chreky The Salon Spa
Candleman
Davis Financial Services
Joseph F. DiBlase
GALA Hispanic Theatre
Thomas J. and Fran Knoll
New Course Catering
Paradigm Event Management and
La Fuente Development
Restaurant Nora
Michelle Travis
U.S. Vehicle Registration Service
CAAB’S 10th
Anniversary
Celebration
Taking Stock,
Reinvesting Dividends
CAAB marked our 10th anniversary in 2007, celebrating with
old friends and new at our reception and silent auction “Taking
Stock, Reinvesting Dividends.” Tom Gardner, CEO of The Motley Fool,
praised CAAB in his keynote speech, explaining that “organizations
like CAAB are absolutely critical because they can
help [people] step-by-step become stakeholders”
in their communities. During this special commemorative evening,
we recognized CAAB’s founders and celebrated the collaborative spirit
that CAAB still embodies through our work investing in people and
strengthening communities.
Institutional Funders
America Saves and Capital One
The Morris Gwendolyn Cafritz Foundation
Citi
CityBridge Foundation
Consumer Federation of America
Countrywide Bank
DC Department of Insurance, Securities
Banking
DC Office of Tax and Revenue
DC Office of the Deputy Mayor for
Planning and Economic Development
Eugene and Agnes E. Meyer Foundation
The Moriah Fund
The Partnership to End Childhood Hunger
in the Nation’s Capital
University of the District of Columbia State
Education Agency
U.S. Department of Health
Human Services
Washington Area Women’s Foundation
Wiley Rein LLP
Individual Donors
Scott Auslander
Alan Berube Cristina Boccuti
Noah Bishoff
Sue Chozick
Kathryn Clay
Jason Foster
Thomas J. Knoll
Veronica Nolan
Laurent Ross
Betsy Rosenblatt Rosso
Beth Schaffer
Jeff Teitel
Maceo Thomas
Andrew Tulchin
CAAB
Supporters
We rely on private and
government funding to support
our Savers in realizing their
dreams. We are grateful for the
generous contributions of the
organizations and individuals
who make our work possible.

8. Board of Directors
Nancy Register, PRESIDENT
Associate Director,
Consumer Federation of America
Marcella Harshbarger, VICE PRESIDENT
Corporate Counsel, France Telecom
North America
Ken White, SECRETARY/TREASURER
Vice President, Business Banking,
Provident Bank
Alan Berube
Research Director, Metropolitan Policy
Program, Brookings Institution
Kathryn R. Clay
Vice President and Community
Consultant, PNC Bank,
Greater Washington Area
Richard M. Hall
Former Executive Director, CAAB
Thomas Knoll
Founder and former Executive Director,
Community Family Life Services
Veronica Nolan
Executive Director,
Urban Alliance Foundation
Laurent Ross
College Savings Program Manager, Calvert
Ernest Skinner
Former Vice President of
Community Development
Citibank, F.S.B., Mid-Atlantic Region
Julius Ware, II
President and Founder of the Ward 7
Business and Professional Association
CAAB’s Staff
Colleen Dailey, EXECUTIVE DIRECTOR
Emily Appel, SAVINGS PROGRAM DIRECTOR
Meg Newman, DC EITC CAMPAIGN COORDINATOR
Donna V.S. Ortega, ASSOCIATE DIRECTOR
Matthew Peterson, PROGRAM ASSOCIATE
Adam Perry, PROGRAM ASSOCIATE
Linda Stroman, FINANCIAL EDUCATION COORDINATOR
Roslyn Williams, OFFICE MANAGER
Capital Area Asset Builders
1801 K Street NW
Suite M100
Washington, DC 20006
phone: 202-419-1440
fax: 202-419-1447
www.caab.org
“There’s no quick fix. I remember the [payday loan]
company said ‘Once you pay this off, you can apply for
another one.’ I thought why would I want to do that?
You’re trapped.That’s how I felt every time I go in there.
I feel ashamed that I’m even going in.”
“[After taking Money Management Classes] I’m more in
tune with my budget ... I have a goal I want to accomplish.
It’s not that I didn’t have goals before, but I am motivated
even more now because I have a support system.”
– Stephanie Vann, who used DC Saves resources and money management
classes to get out of a bad payday loan.