Kathryn Stephens Appointed Interim Executive Director of Capital Area Asset Builders

WASHINGTON–(BUSINESS WIRE)–The Board of Directors of Capital Area Asset Builders (CAAB) unanimously voted to appoint Kathryn Stephens as the Interim Executive Director effective July 1. Stephens brings over 20 years of nonprofit management experience to her new role, as well as a proven track record in organizational development, business strategy, systems building, and internal control enhancement.

Stephens has successfully navigated more than 10 interim roles, including as CEO, Executive Director, and COO, across a range of social impact organizations with budgets of up to $35 million. Stephens’ adaptability and deep understanding of the challenges and opportunities at different stages of organizational life cycles make her an ideal leader to guide CAAB while it focuses on business continuity, internal capacity building, and stakeholder relationship management.

Under Stephens’ leadership, CAAB will continue to advance its vital community services while ensuring the retention and recruitment of essential staff and consultants. She will also identify areas for improvement in business practices and management and will strengthen relationships with external partners.

CAAB remains committed to its mission of supporting individuals and families to achieve economic mobility. In 2023 alone, the organization distributed nearly $4 million through its Matched Savings and Cash Transfer & Guaranteed Income programs which supported 1,000 beneficiaries. Over the past five years, CAAB has distributed $13.2 million, significantly aiding more than 3,100 individuals and families in achieving financial stability and growth.

Joseph Leitmann-Santa Cruz has served as CEO since 2019 and has shepherded CAAB through tremendous growth and development. The Board thanks Leitmann-Santa Cruz for his vision and passion for financial empowerment. He will support the transition in the coming weeks.

Stephens’ appointment reflects CAAB’s dedication to continuity and excellence in service delivery during this transitional period. The Board is confident that her leadership will be instrumental in strengthening CAAB and ensuring its continued impact on the community.

About Capital Area Asset Builders

Capital Area Asset Builders (CAAB) is a nonprofit organization that empowers low-income individuals and families in the Washington, D.C. area to gain financial independence and build wealth. CAAB’s programs focus on matched savings, cash transfers, guaranteed income, and financial education aimed at fostering financial stability and economic advancement.