Retirement plan

GOOD SHEPHERD FOOD BANK 403(B) PLAN

Name: GOOD SHEPHERD FOOD BANK OF MAINE - GOOD SHEPHERD FOOD BANK 403(B) PLAN (2024) Form 5500
Creator: GOOD SHEPHERD FOOD BANK OF MAINE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GOOD SHEPHERD FOOD BANK 403(B) PLAN, GOOD SHEPHERD FOOD BANK OF MAINE

GOOD SHEPHERD FOOD BANK OF MAINEEIN 22-2986809Plan #001PY 2024

PO BOX 1807 - AUBURN, ME 04211207-782-3554gsfb.orgLinkedIn51-200 employeescivic & social organization

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$6.9M

+28.0% from 2023

Total participants

130

-7.8% from 2023

Average account balance

$54,079

+33.0% from 2023

Annual return

21.28%

+0.48 pp from 2023

Benchmarks

See 5,998 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,998 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.87M

Not enough data

1 years with asset history on file

Average account balance

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

$54K

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.

127

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.

97.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$936K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+21.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$293

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 3 by compensation

Provider	Service type	Compensation
VALMARK ADVISERS INC1 year Filed as: VALMARK ADVISORS, INC. Service code 27 130 SPRINGSIDE DRIVE · AKRON, OH 44333	Advisory (Plan)	$22,455
AMERICAN FUNDS1 year Filed as: CAPITAL GROUP RETIREMENT PLAN SVCS Service code 64 6455 IRVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping Fees	$14,842
DOWNEAST PENSION SERVICES, INC.1 year Service code 13 41 CAMPUS DRIVE · NEW GLOUCESTER, ME 04260	Contract Administrator	$2,704

Plan features & details

Pension benefit codes2F2G2M2S2T3D2K

Plan features

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.
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.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$37K

$358 / participant

Contract admin$37K100.0%

% of EOY assets

0.542%

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: BAKER NEWMAN & NOYES LLC
Auditor EIN: 010494526
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$54,079

$55,437-2.4%

$155,534-65.2%

$74,459-27.4%

Participation rate

97.1%

61.9%+35.2pp

78.2%+18.9pp

67.2%+29.9pp

Annual return

21.28%

269.58%-248.3pp

64.92%-43.6pp

1369.70%-1348.4pp

Employer contribution / active EE

$3,643

$2,266+60.8%

$4,675-22.1%

$2,626+38.7%

Participant deferral / active EE

$5,357

$2,837+88.8%

$5,630-4.8%

$4,350+23.2%

Admin fee / account holder

$293

$1,742-83.2%

$15,900-98.2%

$1,945-84.9%

Provider

Service type

Compensation

VALMARK ADVISERS INC1 year

Filed as: VALMARK ADVISORS, INC.

Service code 27

130 SPRINGSIDE DRIVE · AKRON, OH 44333

Advisory (Plan)

$22,455

AMERICAN FUNDS1 year

Filed as: CAPITAL GROUP RETIREMENT PLAN SVCS

Service code 64

6455 IRVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping Fees

$14,842

DOWNEAST PENSION SERVICES, INC.1 year

Service code 13

41 CAMPUS DRIVE · NEW GLOUCESTER, ME 04260

Contract Administrator

$2,704

GOOD SHEPHERD FOOD BANK 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GOOD SHEPHERD FOOD BANK 403(B) 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