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 (2024) 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 2024

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)

$701K

+14.2% from 2023

Total participants

+4.5% from 2023

Average account balance

$16,303

+8.9% from 2023

Annual return

12.23%

-12.25 pp from 2023

Benchmarks

See 3,320 peers

Peer group

Industry71 - Arts, Entertainment, and Recreation

Plan typeDefined contribution

Participants25-99

Cohort3,320 peers

Snapshot2024

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

$84K

$1783 / participant

Other / not subdivided$84K100.0%

% of EOY assets

11.953%

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

$16,303

$51,631-68.4%

$129,397-87.4%

$80,925-79.9%

Participation rate

44.7%

56.9%-12.3pp

69.6%-24.9pp

67.7%-23.0pp

Annual return

12.23%

20.77%-8.5pp

9453.98%-9441.8pp

35.65%-23.4pp

Employer contribution / active EE

$872

$1,583-44.9%

$4,154-79.0%

$2,756-68.4%

Participant deferral / active EE

$1,079

$2,670-59.6%

$4,167-74.1%

$4,299-74.9%

Admin fee / account holder

$1,949

$4,309-54.8%

$7,679-74.6%

$6,940-71.9%

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