Retirement plan

BACKBLAZE, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Name: BACKBLAZE, INC. - BACKBLAZE, INC. 401(K) PROFIT SHARING PLAN AND TRUST (2024) Form 5500
Creator: BACKBLAZE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BACKBLAZE, INC. 401(K) PROFIT SHARING PLAN AND TRUST, BACKBLAZE, INC.

BACKBLAZE, INC.EIN 20-8893125Plan #001PY 2024

201 BALDWIN AVE. - SAN MATEO, CA 94401209-640-4227backblaze.comLinkedIn201-500 employeescomputer software

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$39.3M

+42.8% from 2023

Total participants

491

+6.3% from 2023

Average account balance

$80,702

+35.4% from 2023

Annual return

26.15%

-1.05 pp from 2023

Benchmarks

See 1,035 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort1,035 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$39.30M

Not enough data

1 years with asset history on file

Average account balance

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

$81K

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.

487

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.

98.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6.74M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+26.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 2 by compensation

Provider	Service type	Compensation
ADP BROKER-DEALER4 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745	Recordkeeping	$3,905
ADP BROKER-DEALER5 years Service code 59 · EIN 22-3319984	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
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

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$4K

$11 / participant

Recordkeeping$4K100.0%

% of EOY assets

0.010%

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: AUDIT & TAX SOLUTIONS CPAS INC
Auditor EIN: 943211753
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$80,702

$65,960+22.3%

$81,844-1.4%

$77,736+3.8%

Participation rate

98.8%

65.8%+33.1pp

72.4%+26.5pp

70.6%+28.2pp

Annual return

26.15%

26.64%-0.5pp

778.87%-752.7pp

31.26%-5.1pp

Employer contribution / active EE

$5,880

$2,375+147.6%

$2,916+101.6%

$2,728+115.6%

Participant deferral / active EE

$13,780

$3,505+293.1%

$4,323+218.7%

$4,651+196.3%

Admin fee / account holder

$526-98.5%

$7,355-99.9%

$433-98.1%

Provider

Service type

Compensation

ADP BROKER-DEALER4 years

Filed as: ADP, INC.

Service code 15 · EIN 13-3036745

Recordkeeping

$3,905

ADP BROKER-DEALER5 years

Service code 59 · EIN 22-3319984

Shareholder Servicing

BACKBLAZE, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BACKBLAZE, INC. 401(K) PROFIT SHARING PLAN AND TRUST

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