Retirement plan

BRONX CHARTER SCHOOL FOR BETTER LEARNING

Name: BRONX CHARTER SCHOOL FOR BETTER LEARNING - BRONX CHARTER SCHOOL FOR BETTER LEARNING (2024) Form 5500
Creator: BRONX CHARTER SCHOOL FOR BETTER LEARNING
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BRONX CHARTER SCHOOL FOR BETTER LEARNING, BRONX CHARTER SCHOOL FOR BETTER LEARNING

BRONX CHARTER SCHOOL FOR BETTER LEARNINGEIN 26-0061118Plan #003PY 2024

3740 BAYCHESTER AVENUE-ANNEX - BRONX, NY 10466718-655-6660bronxbetterlearning.orgLinkedIn51-200 employeeseducation management

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$7M

+23.2% from 2023

Total participants

235

+4.0% from 2023

Average account balance

$34,762

+8.5% from 2023

Annual return

10.58%

+2.34 pp from 2023

Benchmarks

See 1,577 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants100-249

Cohort1,577 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.81M

Not enough data

1 years with asset history on file

Average account balance

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

$39K

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.

199

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.

89.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$871K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+11.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$397

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
PLAN MEMBER SECURITIES CORP6 years Service code 27 · EIN 95-3706234	Advisory (Plan)	$59,150
ASCENSUS LLC6 years Service code 15 · EIN 11-3665754	Recordkeeping	$12,178

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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$70K

$411 / participant

Investment mgmt$59K84.2%
Contract admin$11K15.8%

% of EOY assets

1.006%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MENGEL, METZGER, BARR & CO. LLP
Auditor EIN: 161092347
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$34,762

$69,774-50.2%

$67,575-48.6%

$74,459-53.3%

Participation rate

80.1%

71.4%+8.7pp

72.9%+7.2pp

67.2%+12.9pp

Annual return

10.58%

-40.53%+51.1pp

3528.98%-3518.4pp

1369.70%-1359.1pp

Employer contribution / active EE

$1,776

$2,710-34.5%

$2,736-35.1%

$2,626-32.4%

Participant deferral / active EE

$3,275

$3,636-9.9%

$4,003-18.2%

$4,350-24.7%

Admin fee / account holder

$350

$890-60.7%

$3,993-91.2%

$1,945-82.0%

Provider

Service type

Compensation

PLAN MEMBER SECURITIES CORP6 years

Service code 27 · EIN 95-3706234

Advisory (Plan)

$59,150

ASCENSUS LLC6 years

Service code 15 · EIN 11-3665754

Recordkeeping

$12,178

BRONX CHARTER SCHOOL FOR BETTER LEARNING

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BRONX CHARTER SCHOOL FOR BETTER LEARNING

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