Retirement plan

FAMILY LIFE ACADEMY CHARTER SCHOOLS 401(K) RETIREMENT PLAN

Name: FAMILY LIFE ACADEMY CHARTER SCHOOLS - FAMILY LIFE ACADEMY CHARTER SCHOOLS 401(K) RETIREMENT PLAN (2025) Form 5500
Creator: FAMILY LIFE ACADEMY CHARTER SCHOOLS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FAMILY LIFE ACADEMY CHARTER SCHOOLS 401(K) RETIREMENT PLAN, FAMILY LIFE ACADEMY CHARTER SCHOOLS

FAMILY LIFE ACADEMY CHARTER SCHOOLSEIN 13-4170389Plan #001PY 2025

296 E 140 ST - BRONX, NY 10454718-665-2805flacsnyc.comLinkedIn201-500 employeesprimary/secondary education

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$7M

+9.4% from 2024

Total participants

353

+4.7% from 2024

Average account balance

$39,581

+3.8% from 2024

Annual return

13.41%

-0.15 pp from 2024

Benchmarks

See 195 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants250-999

Cohort195 peers

Snapshot2025

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$7.05M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$40K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

178

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

39.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.12M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+13.41%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$409

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 4 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS7 years Filed as: TRANSAMERICA FINANCIAL LIFE INS CO Service code 15 · EIN 36-6071399	Recordkeeping	$64,917
MAGII PENSION SERVICES LLC7 years Filed as: MAGII PENSION SERVICES, LLC Service code 15 · EIN 26-2480211	Recordkeeping	$5,201
LEAFHOUSE FINANCIAL ADVISORS, LLC1 year Service code 27 · EIN 26-4311657	Advisory (Plan)	$3,426
OSAIC WEALTH INC1 year Service code 22 · EIN 93-0987232	Insurance Broker	$0

Plan features & details

Pension benefit codes2E2J2K2G3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$73K

$251 / participant

Contract admin$73K100.0%

% of EOY assets

1.033%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MENGEL, METZGER, BARR & CO. LLP
Auditor EIN: 161092347
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$39,581

$83,575-52.6%

$66,439-40.4%

$65,191-39.3%

Participation rate

39.7%

71.6%-31.9pp

74.5%-34.8pp

63.0%-23.3pp

Annual return

13.41%

12.38%+1.0pp

757.66%-744.3pp

51.24%-37.8pp

Employer contribution / active EE

$1,304

$2,903-55.1%

$2,637-50.6%

$2,400-45.7%

Participant deferral / active EE

$2,549

$3,365-24.3%

$3,876-34.2%

$2,671-4.6%

Admin fee / account holder

$409

$234+74.7%

$6,173-93.4%

$907-54.9%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS7 years

Filed as: TRANSAMERICA FINANCIAL LIFE INS CO

Service code 15 · EIN 36-6071399

Recordkeeping

$64,917

MAGII PENSION SERVICES LLC7 years

Filed as: MAGII PENSION SERVICES, LLC

Service code 15 · EIN 26-2480211

Recordkeeping

$5,201

LEAFHOUSE FINANCIAL ADVISORS, LLC1 year

Service code 27 · EIN 26-4311657

Advisory (Plan)

$3,426

OSAIC WEALTH INC1 year

Service code 22 · EIN 93-0987232

Insurance Broker

FAMILY LIFE ACADEMY CHARTER SCHOOLS 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FAMILY LIFE ACADEMY CHARTER SCHOOLS 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion