Retirement plan

VIRGINIA MUSEUM OF CONTEMPORARY ART 401(K) PROFIT SHARING PLAN

Name: VIRGINIA MUSEUM OF CONTEMPORARY ART - VIRGINIA MUSEUM OF CONTEMPORARY ART 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: VIRGINIA MUSEUM OF CONTEMPORARY ART
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VIRGINIA MUSEUM OF CONTEMPORARY ART 401(K) PROFIT SHARING PLAN, VIRGINIA MUSEUM OF CONTEMPORARY ART

VIRGINIA MUSEUM OF CONTEMPORARY ARTEIN 23-7112328Plan #002PY 2023

2200 PARKS AVENUE - VIRGINIA BEACH, VA 234514062757-425-0000virginiamoca.orgLinkedIn11-50 employeesmuseums and institutions

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$614K

+29.4% from 2022

Total participants

+8.2% from 2022

Average account balance

$14,970

+35.7% from 2022

Annual return

24.48%

+41.89 pp from 2022

Benchmarks

See 3,103 peers

Peer group

Industry71 - Arts, Entertainment, and Recreation

Plan typeDefined contribution

Participants25-99

Cohort3,103 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$901K

Not enough data

1 years with asset history on file

Average account balance

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

$17K

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.

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.

120.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$109K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+17.41%

Not enough data

1 years with return on file

Admin fee / account holder

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

$666

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J3D

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.
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

$85K

$1849 / participant

Other / not subdivided$85K100.0%

% of EOY assets

13.854%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,970

$49,199-69.6%

$121,204-87.6%

$75,173-80.1%

Participation rate

45.7%

55.4%-9.8pp

69.5%-23.9pp

67.2%-21.6pp

Annual return

24.48%

56.04%-31.6pp

987.18%-962.7pp

160.72%-136.2pp

Employer contribution / active EE

$793

$1,547-48.7%

$4,170-81.0%

$2,671-70.3%

Participant deferral / active EE

$1,478

$2,630-43.8%

$4,083-63.8%

$4,126-64.2%

Admin fee / account holder

$2,074

$3,946-47.4%

$5,651-63.3%

VIRGINIA MUSEUM OF CONTEMPORARY ART 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VIRGINIA MUSEUM OF CONTEMPORARY ART 401(K) PROFIT SHARING 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