# Young Women's Christian Association Retirement Fund

Young Women's Christian Association Retirement Fund is a Pension Fund based in New York, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 1925
- **Assets under management:** $300M - $500M (Altss estimate)
- **Website:** ywcausa.org

## Regulatory record

- **Reports private funds:** No

## About

John D. Rockefeller Jr. endowed the YWCA Retirement Fund in 1925 with $1.8 million, creating a pension vehicle for the national organization's employees decades before widespread retirement benefits existed. Today the fund operates as a legally separate entity from YWCA USA, providing defined-benefit and cash-balance plan benefits to the staff who run the organization's programs across its nearly 200 local associations. The plan's benefits are insured by the Pension Benefit Guaranty Corporation. The fund's investment committee allocates capital across a diversified portfolio, with a notable commitment to venture capital alongside traditional public and fixed-income holdings. Asset-class coverage spans venture capital, public equities, fixed income, and cash-balance plan assets held in New York. Its consistent allocation to venture distinguishes it from many non-profit pension funds that default to conservative, income-oriented portfolios. The fund makes fund commitments to external VC managers rather than direct investments, a structure typical of institutional limited partners of its size. The organization is overseen by a Board of Directors including President Sandra Larson. Day-to-day investment operations and fund administration run through CFO and COO Joseph Derocchis, who manages the roughly $347 million portfolio. YWCA USA CEO Margaret Mitchell serves as key personnel for the Retirement Fund, linking the plan's governance to the national organization's leadership. No additional offices or adjacent philanthropic vehicles beyond the retirement fund itself are publicly identified. The fund's structural distinction lies in its hybrid defined-benefit/cash-balance design within a non-profit, mission-aligned parent organization. Most faith-adjacent or non-profit retirement plans are simpler defined-contribution structures. The YWCA Retirement Fund's choice to maintain a cash-balance defined-benefit plan — and to insure it through PBGC — makes its liability profile and investment horizon look more like a corporate pension fund than a typical non-profit 401(k).

## Sectors

- Venture Capital

## People

- Joseph Derocchis — Chief Financial Officer and Chief Operating Officer
- Margaret Mitchell — Chief Executive Officer of YWCA USA
- Sandra Larson — President of the Board of Directors

## Questions

### Who runs investment decisions at the YWCA Retirement Fund?

Joseph Derocchis serves as Chief Financial Officer and Chief Operating Officer of the YWCA Retirement Fund, overseeing the plan's roughly $347 million portfolio. The Board of Directors, led by President Sandra Larson, provides governance oversight. YWCA USA CEO Margaret Mitchell is also designated as key personnel for the fund.

### How does the YWCA Retirement Fund source venture capital deal flow?

The fund operates as a limited partner, committing capital to external venture capital managers rather than sourcing direct deals. This fund-of-funds approach is standard for institutional investors of its size without dedicated in-house VC sourcing teams. Specific manager relationships are not publicly disclosed.

### Does the YWCA Retirement Fund participate in fund commitments or only direct deals?

The fund participates through external fund commitments. Its venture capital allocation flows to external VC managers as a limited partner. There is no public evidence of direct co-investments, SPVs, or direct company investments.

### How is the YWCA Retirement Fund related to YWCA USA?

The Retirement Fund is a legally separate entity established in 1925 to provide pension benefits to YWCA USA employees. While distinct, it is closely linked — YWCA USA's CEO serves as key personnel for the fund, and the plan exists to serve the parent organization's workforce. The fund is insured by the Pension Benefit Guaranty Corporation.

### Where does the underlying capital come from?

The fund was established with a $1.8 million endowment from philanthropist John D. Rockefeller Jr. in 1925. Over nearly a century, it has grown through investment returns and ongoing employer contributions from YWCA USA to fund retirement benefits for its employees.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/young-womens-christian-association-retirement-fund-ywcarf

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology