The Capital Area Asset Builders (CAAB) announced Tuesday that it was selected as part of the fourth cohort of the Citi Foundation’s Community Progress Makers initiative.
CAAB will receive $1 million in unrestricted funding over the next three years as well as access to a learning community and network of Community Progress Makers across the country.
First launched in 2015, Community Progress Makers provides unrestricted funding to visionary organizations that work locally to connect low-income communities to greater economic opportunity. With the latest cohort, the foundation has now committed $115 million in grants to Community Progress Makers since its inception.
The current cohort of Community Progress Makers has been selected through an open request for proposals process announced this past fall, which focused on organizations working in the areas of affordable housing and access, economic development, financial health, and workforce readiness.
“We are honored to receive this grant from the Citi Foundation,” said Joseph Leitmann-Santa Cruz, CAAB’s CEO and executive director. “We are fully committed to [advancing] CAAB’s mission for the benefit of low- and moderate-income Black, Latinx and immigrant families in Washington, D.C., and throughout the greater D.C. metro region. This grant from the Citi Foundation will assist us to achieve our big and audacious goal of creating $25 million of community wealth building over the next three years.”
