The Capital Area Asset Builders announced on May 10 that $50,000 has been received from The Bank of America Charitable Foundation for its work in seeking to close the District’s racial wealth gap.
The money is in the form of general operating funds.
“We are honored to receive this grant from Bank of America,” said Joseph Leitmann-Santa Cruz, CAAB’s CEO and executive director. “We are fully committed to advance CAAB’s mission for the benefit of low-and-moderate income Black, Latinx and immigrant families in Washington, D.C. We are proudly focusing on creating financial stability and long-term prosperity opportunities for Black, Latinx and Immigrant community members. This grant from Bank of America will assist us to advance this objective.”
In other news, Leitmann-Santa Cruz has been appointed to the Federal Reserve Bank of Richmond’s Community Investment Council for a four-year term. The CIC was established in 2011. The main purpose of the CIC is to inform the Bank about emerging issues and trends in communities across the Fifth District which encompasses low-and-moderate income neighborhoods in Washington.
Members of the CIC represent unique perspectives on community investment and local economic growth from across the Fifth District.
“I am honored to be appointed to the Richmond Fed’s CIC,” said Leitmann-Santa Cruz. “I look forward to informing and advising the leadership of the Richmond Fed on key economic matters impacting low-and-moderate income community members, and to advocate for the development of strategies to create financial stability and long-term prosperity opportunities for Black, Latinx and immigrant community members.”