The UNDP Executive Board also functions as the UNCDF Executive Board. The Executive Board, officially the UNDP/UNFPA/UNOPS Executive Board, consists of 36 member states from regional groupings that serve on a rotating basis and meet three times per year. About two-thirds of the Executive Board is comprised of programme countries, while the remaining third is made up of donor countries.

The Executive Board is subordinate to the Economic and Social Council and, ultimately, the United Nations General Assembly.

The Administrator of UNDP is also the Managing Director of UNCDF. The Executive Secretary has been entrusted with administering the majority of UNCDF operations.

Similar to UNDP, UNCDF receives contributions from member states and international development partners. These resources enable UNCDF to deliver catalytic capital and deploy blended finance instruments in support of sustainable development across the Least Developed Countries and other frontier markets.

The financial architecture of UNCDF is comprised of core voluntary contributions, flexible non-core funding, and earmarked funds.