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 Accelerated Program (UCAP). Funding is granted to UCAP 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. Even though it is also registered as a non-profit 501(c)(3), 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.
Since its establishment in 2007, all of the school's fundraising, disbursement of funds, investing of funds, and building of endowment has been shifted to the Fund for UCAP. The Fund provides donors with the assurance that their gifts will be used in perpetuity as intended. Each year, it raises private funds from individuals, businesses, foundations, and events. From time to time, the Fund will initiate capital campaigns for capital needs and endowment. The Fund for UCAP works 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 sit on the advisory board of the Urban Collaborative.
Money raised by the Fund is used primarily for the short-term, year-to-year needs of the Urban Collaborative. The single greatest use of such funds is 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.
The FFUCAP completed the Expanding the Possibilities Capital Campaign in 2013 and raised the funds necessary to complete the construction of an Annex that houses a science lab, arts studio and gymnasium. This Annex opened in the Fall of 2013 and serves serve as the hub for Beyond School programs.