Fund for UCAP Board
The Fund for UCAP is a private
non-profit corporation, established in 2007, that raises,
holds, and invests funds for the benefit of the Urban
Collaborative. Funds may be used for student programs,
capital needs, staff incentives, and special initiatives
identified by the boards of the Urban Collaborative or the
Fund for UCAP.
The Fund for UCAP was established to
enhance the flexibility of thoughtful individuals to raise
and manage funds to benefit UCAP and its students. UCAP is a
public school controlled by the superintendents of the
participating school districts. Because of its status as a
public school, the Urban Collaborative operates in a
financial and legal environment that is more restrictive
than traditional non-profit organizations even though it is
also registered as a non-profit 501 (c) (3). The Fund for
UCAP will provide donors with the assurance that their gifts
will be used in perpetuity as intended. Such assurances will
assist the Fund for UCAP in all aspects of fundraising.
Each year, the Fund for UCAP will raise
private funds from individuals, businesses, foundations, and
fundraisers. The Fund for UCAP will develop a program for
planned giving. Finally, the Fund for UCAP will also
consider initiating a capital campaign for capital needs and
an endowment.
The Fund for UCAP will work closely with
the Urban Collaborative to identify needs and to provide
funds on a timely basis. At least two members of the board
of the Fund will sit on the advisory board of the Urban
Collaborative.
Initially, money raised by the Fund will
be used for short-term, year-to-year needs of the Urban
Collaborative. The single greatest use of such funds will be
for costs associated with Beyond School programs at UCAP. In
the past 10 years, the Urban Collaborative has raised more
money for Beyond School programs than has been needed to
fund these programs each year. Surplus funds have been held
by the Urban Collaborative with the effect of increasing the
reserve fund to its current level of $1.8 million. All of
this activity – fundraising, disbursement of funds,
investing of funds, and building an endowment – will be
shifted to the Fund for UCAP.
The board of the Fund for UCAP will
develop policies for acceptance, disbursement, and
investment for all funds held by the Friends. These funds
are projected to be in three different categories:
short-term (as described above for Beyond School programs);
temporarily restricted for those surplus funds shifted from
short-term funds at the end of each year; and endowment for
funds projected to be held for the long-term benefit of
UCAP.
Fund for UCAP Board
