Fund for Ucap FY2024 filing

Tax-deductible

Providence, RI501(c)(3)Since 2008EducationEIN 26-0656828Revenue $1.2M in FY2024

On file with the IRSucap.org75 Carpenter St, 02903-3004 · Providence, RITax-exempt since Oct 2007Publicly supported charity — 170(b)(1)(A)(vi)

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The Fund for Ucap ("Fund") supports at-risk youth from the urban core of RI by providing enrichment activities, after-school activities, and supplemental services not covered by tuition paid by state and local governments. The Fund also acquires, finances, develops and leases land a school building.

501(c)(3) charity; gifts are tax-deductible.
53¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $28K a year · 4% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
53%
of spending
Worth a look: 53% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 7.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $187K
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.3M
21% of total assets
Looks good: liabilities are 21% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 15 voting members
Looks good: 14 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
+334% vs prior year
Spent
$1.3M
To programs
53%
Net assets
$5.0M
By yearFY2020–FY2025
Revenue
$1.2M
FY2024▲ +334%
Tap a bar for its year
Revenue by fiscal year
FY2020$507K
FY2021$525K
FY2022$395K
FY2023$285K
FY2024$1.2M
FY2025$1.1M
Expenses
$1.3M
FY2024▲ +110%
Tap a bar for its year
Expenses by fiscal year
FY2020$217K
FY2021$280K
FY2022$298K
FY2023$626K
FY2024$1.3M
FY2025$1.1M
Net assets
$5.0M
FY2024▼ -1%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.8M
FY2021$5.1M
FY2022$4.2M
FY2023$5.1M
FY2024$5.0M
FY2025$4.9M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 2007.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

53 cents of each dollar spent went to programs.

Program services 53% · $699K Management & general 34% · $440K Fundraising 13% · $174K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Fund for Ucap executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Raises and invests funds, and develops property, to support Urban Collaborative and its students.

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Provided by the organization

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1 program · $699K · in their own filed words · FY2023
01

The fund enhances the flexibility of thoughtful individuals to raise and manage funds to benefit urban collaborative and its students. The fund also acquires, finances, develops and leases land a school building.

$699Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 7 funders →
Grants paid · 5 grants · $858K · 2019–2024
Urban CollaborativeRI · FY2024$224,057
Urban CollaborativeRI · FY2023$253,057
Urban CollaborativeRI · FY2022$326,464
Urban CollaborativeRI · FY2020$26,336
Urban CollaborativeRI · FY2019$28,336

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Fees for servicesLn 2g$755K
Gifts and grantsLn 1h$484K
Investment incomeLn 3$6K
Money outPt IX
$1.3M
Ln 25
Programscol B$699K
Managementcol C$440K
Fundraisingcol D$174K
Owns and owesPt X
$5.0M
net assets · Ln 32
Cash and savingsLn 1–2$762K
Total assetsLn 16$6.3M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$484K
Fundraising eventsLn 1c$74K
Fees for servicesLn 2g$755K
Investment incomeLn 3$6K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$274K
SavingsLn 2$487K
Cash and savings togetherLn 1–2$762K
Land, buildings, equipmentLn 10c$5.5M
Total assetsLn 16$6.3M
LiabilitiesLn 26$1.3M
Net assetsLn 32$5.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 616
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$980K$762K
Land, buildings, equipmentLn 10c$5.6M$5.5M
Total assetsLn 16$6.6M$6.3M
LiabilitiesLn 26$1.6M$1.3M
Net assetsLn 32$5.1M$5.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$253K$253K
Legal feesLn 11b$32K$32K
Accounting feesLn 11c$75K$75K
Advertising and promotionLn 12$96K$28K$68K
Office expensesLn 13$4K$4K
OccupancyLn 16$139K$139K
InterestLn 20$38K$38K
Depreciation, depletion and amortizationLn 22$230K$230K
InsuranceLn 23$40K$40K
Other expenses (24a–d)Ln 24$405K$105K$194K$106K
Total functional expensesLn 25$1.3M$699K$440K$174K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.1M$1.1M−$47K$4.9M 990 PDF
FY2024 Viewing $1.2M$1.3M−$75K$5.0M 990 PDF
FY2023 $285K$626K−$341K$5.1M 990 PDF
FY2022 $395K$298K$97K$4.2M 990 PDF
FY2021 $525K$280K$244K$5.1M 990 PDF
FY2020 $507K$217K$290K$4.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $1,237,772 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $227,353$484,389
I-9 Program service revenuePrior year $0$755,435
I-10 Investment incomePrior year $180$5,638
I-11 Other revenuePrior year $57,579−$7,690
I-12 Total revenuePrior year $285,112$1,237,772
I-13 Grants and similar amounts paidPrior year $326,464$253,057
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $299,975$1,059,765
I-18 Total expensesPrior year $626,439$1,312,822
I-19 Revenue less expensesPrior year −$341,327−$75,050
Part VI · Governance 14 of 15 board members independent, 1 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members14
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,237,772 across 8 lines filed
VIII-1c Fundraising events$74,038
VIII-1f All other contributions, gifts and grants$410,351
VIII-1h Total contributions, gifts and grants$484,389
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $755,435$755,435
VIII-3 Investment incomeExcluded from tax $5,638$5,638
VIII-8 Net income from fundraising eventsExcluded from tax −$7,921−$7,921
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $231$231
VIII-12 Total revenueRelated to mission $755,666 · Unrelated business $0 · Excluded from tax −$2,283$1,237,772
Part IX · Statement of functional expenses $1,312,822 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $253,057$253,057
IX-11b Legal feesManagement $31,757$31,757
IX-11c Accounting feesManagement $75,233$75,233
IX-12 Advertising and promotionPrograms $28,430 · Fundraising $67,948$96,378
IX-13 Office expensesPrograms $4,490$4,490
IX-16 OccupancyManagement $138,787$138,787
IX-20 InterestPrograms $37,944$37,944
IX-22 Depreciation, depletion and amortizationPrograms $229,944$229,944
IX-23 InsurancePrograms $40,380$40,380
IX-24 Other expenses (24a–d)Programs $105,110 · Management $194,148 · Fundraising $105,594$404,852
IX-25 Total functional expensesPrograms $699,355 · Management $439,925 · Fundraising $173,542$1,312,822
Part X · Balance sheet $6,305,741 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $664,790$274,240
X-2 Savings and temporary cash investmentsStart of year $315,614$487,434
X-3 Pledges and grants receivable$53,845
X-4 Accounts receivableStart of year $41,272$15,700
X-9 Prepaid expenses and deferred chargesStart of year $7,452$3,540
X-10c Land, buildings and equipment, netStart of year $5,591,889$5,470,982
X-16 Total assetsStart of year $6,621,017$6,305,741
X-17 Accounts payable and accrued expensesStart of year $73,133$32,029
X-25 Other liabilitiesStart of year $202,555$65,317
X-26 Total liabilitiesStart of year $1,568,684$1,328,458
X-27 Net assets without donor restrictionsStart of year $5,052,333$4,852,283
X-28 Net assets with donor restrictions$125,000
X-32 Total net assets or fund balancesStart of year $5,052,333$4,977,283
X-33 Total liabilities and net assetsStart of year $6,621,017$6,305,741
Part XI · Reconciliation of net assets $4,977,283 net assets at year end
XI-1 Total revenue$1,237,772
XI-2 Total expenses$1,312,822
XI-3 Revenue less expenses−$75,050
XI-4 Net assets at start of year$5,052,333
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,977,283

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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