Retirement plan

THE ARK RETIREMENT SAVINGS 403(B) PLAN AND TRUST

Name: THE ARK - THE ARK RETIREMENT SAVINGS 403(B) PLAN AND TRUST (2024) Form 5500
Creator: THE ARK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE ARK RETIREMENT SAVINGS 403(B) PLAN AND TRUST, THE ARK

THE ARKEIN 23-7164967Plan #001PY 2024

6450 N CALIFORNIA AVENUE - CHICAGO, IL 60645872-241-8311arkchicago.orgLinkedIn51-200 employeesnon-profit organization management

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$6M

+3.2% from 2023

Total participants

-8.1% from 2023

Average account balance

$111,212

+8.9% from 2023

Annual return

13.95%

-1.90 pp from 2023

Benchmarks

See 10,646 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort10,646 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.01M

Not enough data

1 years with asset history on file

Average account balance

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

$111K

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.

125.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$381K

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

+13.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$18647

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 codes2M3D2G2F2T

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.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$1.0M

$23417 / participant

Other / not subdivided$1M100.0%

% of EOY assets

16.767%

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

$111,212

$58,311+90.7%

$81,882+35.8%

$80,959+37.4%

Participation rate

93.0%

63.5%+29.5pp

72.4%+20.6pp

67.7%+25.4pp

Annual return

13.95%

41.85%-27.9pp

779.47%-765.5pp

35.67%-21.7pp

Employer contribution / active EE

$2,196

$2,347-6.4%

$2,916-24.7%

$2,757-20.3%

Participant deferral / active EE

$6,670

$3,287+102.9%

$4,323+54.3%

$4,300+55.1%

Admin fee / account holder

$18,647

$4,752+292.4%

$7,360+153.4%

$6,925+169.3%

THE ARK RETIREMENT SAVINGS 403(B) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE ARK RETIREMENT SAVINGS 403(B) 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