Form 990 for tax year 2023

Filed by THE YWCA RETIREMENT FUND INC.

Totals

Total revenue: $22,166,251
Total expenses: $38,117,486
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $15,480,191
Investment income: $6,686,060
Other revenue: $0
Total assets, end of year: $386,659,520
Total liabilities, end of year: $7,493,409
Net assets or fund balances, end of year: $379,166,111
Program services expenses (Part IX): $29,810,436
Management and general expenses: $8,307,050
Fundraising expenses: $0
Program service expenses (Part III): $29,810,436

Program services were 78.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1a · Federated campaigns

$0
1b · Membership dues

$0
1c · Fundraising events

$0
1d · Related organizations

$0
1e · Government grants (contributions)

$0
1f · All other contributions, gifts and grants

$0
1g · Noncash contributions included above

$0
2a · Program service revenue: Association Contributions

total $13,250,573 · related or exempt $13,250,573 · unrelated business $0 · excluded $0
2b · Program service revenue: Participant Contributions

total $2,229,618 · related or exempt $2,229,618 · unrelated business $0 · excluded $0
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $1,706,418 · related or exempt $1,706,418 · unrelated business $0 · excluded $0
4 · Income from investment of tax-exempt bond proceeds

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
5 · Royalties

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
6c · Rental income or loss

real property $0 · personal property $0
7a · Gross sales of assets other than inventory

securities $224,607,418 · other assets $0
7b · Less cost or other basis and sales expenses

securities $219,627,776 · other assets $0
7c · Gain or loss

securities $4,979,642 · other assets $0
7d · Net gain or loss

total $4,979,642 · related or exempt $4,979,642 · unrelated business $0 · excluded $0
8a · Fundraising events: contributions included on line 1c

$0
11e · Other revenue, total

$0

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $0 · program services $0
2 · Grants to domestic individuals

total $0 · program services $0
3 · Grants to foreign organizations and individuals

total $0 · program services $0
4 · Benefits paid to or for members

total $29,810,436 · program services $29,810,436
5 · Compensation of officers, directors and key employees

total $642,487 · program services $0 · management and general $642,487 · fundraising $0
6 · Compensation of disqualified persons

total $1,893,932 · program services $0 · management and general $1,893,932 · fundraising $0
7 · Other salaries and wages

total $0 · program services $0 · management and general $0 · fundraising $0
8 · Pension plan contributions

total $228,091 · program services $0 · management and general $228,091 · fundraising $0
9 · Other employee benefits

total $459,285 · program services $0 · management and general $459,285 · fundraising $0
10 · Payroll taxes

total $176,245 · program services $0 · management and general $176,245 · fundraising $0
11a · Fees: management

total $0 · program services $0 · management and general $0 · fundraising $0
11b · Fees: legal

total $216,693 · program services $0 · management and general $216,693 · fundraising $0
11c · Fees: accounting

total $112,991 · program services $0 · management and general $112,991 · fundraising $0
11d · Fees: lobbying

total $0 · program services $0 · management and general $0 · fundraising $0
11e · Fees: professional fundraising services

total $0 · fundraising $0
11f · Fees: investment management

total $1,226,895 · program services $0 · management and general $1,226,895 · fundraising $0
11g · Fees: other

total $0 · program services $0 · management and general $0 · fundraising $0
12 · Advertising and promotion

total $0 · program services $0 · management and general $0 · fundraising $0
13 · Office expenses

total $577,689 · program services $0 · management and general $577,689 · fundraising $0
14 · Information technology

total $452,820 · program services $0 · management and general $452,820 · fundraising $0
15 · Royalties

total $0 · program services $0 · management and general $0 · fundraising $0
16 · Occupancy

total $544,156 · program services $0 · management and general $544,156 · fundraising $0
17 · Travel

total $73,015 · program services $0 · management and general $73,015 · fundraising $0
18 · Travel or entertainment for public officials

total $0 · program services $0 · management and general $0 · fundraising $0
19 · Conferences, conventions and meetings

total $0 · program services $0 · management and general $0 · fundraising $0
20 · Interest

total $0 · program services $0 · management and general $0 · fundraising $0
21 · Payments to affiliates

total $0 · program services $0 · management and general $0 · fundraising $0
22 · Depreciation, depletion and amortization

total $991,508 · program services $0 · management and general $991,508 · fundraising $0
23 · Insurance

total $445,614 · program services $0 · management and general $445,614 · fundraising $0
24e · All other expenses

total $265,629 · program services $0 · management and general $265,629 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,762,183 · end of year $1,560,412
2 · Savings and temporary cash investments

beginning of year $4,820,008 · end of year $8,133,524
3 · Pledges and grants receivable

beginning of year $0 · end of year $0
4 · Accounts receivable

beginning of year $9,964,263 · end of year $55,258,001
5 · Loans and receivables from officers and key people

beginning of year $0 · end of year $0
6 · Loans and receivables from disqualified persons

beginning of year $0 · end of year $0
9 · Prepaid expenses and deferred charges

beginning of year $24,812 · end of year $31,470
10a · Land, buildings and equipment: cost or other basis

$13,687,544
10b · Land, buildings and equipment: accumulated depreciation

$5,539,049
10c · Land, buildings and equipment, net

beginning of year $8,268,310 · end of year $8,148,495
11 · Investments: publicly traded securities

beginning of year $47,146,390 · end of year $42,620,641
12 · Investments: other securities

beginning of year $292,801,579 · end of year $265,525,985
15 · Other assets

beginning of year $5,753,900 · end of year $5,380,992
17 · Accounts payable and accrued expenses

beginning of year $672,252 · end of year $703,100
23 · Secured mortgages and notes payable

beginning of year $7,185,928 · end of year $6,790,309
25 · Other liabilities

beginning of year $515,000
27 · Net assets without donor restrictions

beginning of year $362,168,265 · end of year $379,166,111
28 · Net assets with donor restrictions

beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

Provides retirement benefits to eligible participants.

The Fund provides participants with lump sum benefit payments upon retirement or termination of employment from participating YWCA's.

Expenses $18,853,426
The Fund provides retirement annuity benefits to eligible participants, employees, and beneficiaries.

Expenses $10,291,950
The Fund makes payments to beneficiaries upon the death of a participant or annuitant when applicable.

Expenses $665,060

As filed on the 2023 return.

Listed in Part VII

Elliott Buchholz

Chief Executive Officer

Total calculated

$425,818

From this org

$360,490

From related orgs

$0

Other

$65,328

Hours/week

35

Schedule J breakdown matched by us

Base

$360,490

Bonus

$0

Other

$0

Deferred

$33,600

Nontaxable benefits

$31,728

Filer's total

$425,818
Joseph DeRocchis

Chief Financial Officer / Chief Operating Officer

Total calculated

$328,915

From this org

$269,380

From related orgs

$0

Other

$59,535

Hours/week

35

Schedule J breakdown matched by us

Base

$269,380

Bonus

$0

Other

$0

Deferred

$27,849

Nontaxable benefits

$31,686

Filer's total

$328,915
Guedner Villette

Systems manager

Total calculated

$242,370

From this org

$208,425

From related orgs

$0

Other

$33,945

Hours/week

35

Schedule J breakdown matched by us

Base

$208,425

Bonus

$0

Other

$0

Deferred

$20,904

Nontaxable benefits

$13,041

Filer's total

$242,370
Paul Li

Systems Applications Manager

Total calculated

$232,477

From this org

$190,802

From related orgs

$0

Other

$41,675

Hours/week

35

Schedule J breakdown matched by us

Base

$190,802

Bonus

$0

Other

$0

Deferred

$19,182

Nontaxable benefits

$22,493

Filer's total

$232,477
Michael Sangregorio

Controller

Total calculated

$210,444

From this org

$162,158

From related orgs

$0

Other

$48,286

Hours/week

35

Schedule J breakdown matched by us

Base

$162,158

Bonus

$0

Other

$0

Deferred

$16,921

Nontaxable benefits

$31,366

Filer's total

$210,445
Josephine Chow

Contributions Manager

Total calculated

$200,023

From this org

$170,469

From related orgs

$0

Other

$29,554

Hours/week

35

Schedule J breakdown matched by us

Base

$170,469

Bonus

$0

Other

$0

Deferred

$16,874

Nontaxable benefits

$12,680

Filer's total

$200,023
Lynne Lavelle

Communications Director

Total calculated

$162,444

From this org

$136,780

From related orgs

$0

Other

$25,664

Hours/week

35

Schedule J breakdown matched by us

Base

$136,780

Bonus

$0

Other

$0

Deferred

$13,836

Nontaxable benefits

$11,828

Filer's total

$162,444
Deborah G Ullman

President

Total calculated

$0

Hours/week

2
Jan C Stewart

Vice President

Total calculated

$0

Hours/week

1
Margaret S Neilly

Treasurer

Total calculated

$0

Hours/week

1
Jacqueline W Bostic

Secretary

Total calculated

$0

Hours/week

1
Barbara B Glass

Board Member

Total calculated

$0

Hours/week

2
Kathleen Granchelli

Board Member

Total calculated

$0

Hours/week

1
Margaret Mitchell

Board Member

Total calculated

$0

Hours/week

1
Diana Gibson

Board Member

Total calculated

$0

Hours/week

1
Sondra Vitols

Board Member

Total calculated

$0

Hours/week

1
Marilee Lau

Board Member

Total calculated

$0

Hours/week

1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

1a · First-class or charter travel
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation committee
3 · Independent compensation consultant
3 · Compensation survey or study
3 · Approval by the board or compensation committee
4b · Supplemental nonqualified retirement plan

Answered no

4a · Severance or change-of-control payment
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a: Fund policy generally requires that Coach/Economy Class be booked for both air and rail travel. For air travel, business/first class is allowable for reasons of health (upon determination by Fund management) and for flights exceeding three hours. For rail travel, Fund policy generally requires Coach class be booked. However, in instances where Coach class is not available, Business class is allowable.
Schedule J, Part I, Line 3: The Operations & Benefits Committee (the Committee) of the Board of Trustees obtained a salary survey from an independent compensation consulting firm for all employee positions of comparable organizations. The survey was reviewed by the Committee. The survey is also used to support the recommendation of the CEO's salary which is recommended to the full Board of Trustees who have final approval for the proposed salary. For key employee positions, the Committee reviews salary ranges with the CEO who recommends salaries for the Committee to consider.
Schedule J, Part I, Line 4: Elliott Buchholz, Joseph DeRocchis and Betty Jo Lesonsky, a former employee, are the only participants in the Fund's 457 deferred compensation plan. Also, employees are given the option to participate in a 403(b) plan that is funded solely through employee salary deferrals.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

YWCA OF THE USA

501(c) (3) · To eliminate racism, empower women, and promote peace, justice, freedom, & dignity. · DC

Provenance

Return type: form_990
Tax year: 2023
Filed: 8 November 2024
IRS schema version: 2023v5.0
Source object: 202443139349304044

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.