Retirement plan

NEW WORLD PREPARATORY CHARTER SCHOOL 401(K) PLAN

Name: NEW WORLD PREPARATORY CHARTER SCHOOL - NEW WORLD PREPARATORY CHARTER SCHOOL 401(K) PLAN (2024) Form 5500
Creator: NEW WORLD PREPARATORY CHARTER SCHOOL
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NEW WORLD PREPARATORY CHARTER SCHOOL 401(K) PLAN, NEW WORLD PREPARATORY CHARTER SCHOOL

NEW WORLD PREPARATORY CHARTER SCHOOLEIN 27-2013987Plan #001PY 2024

337 MORNINGSTAR RD - STATEN ISLAND, NY 10303718-705-8990newworldprep.orgLinkedIn51-200 employeesprimary/secondary education

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$3.8M

+13.1% from 2023

Total participants

168

-8.7% from 2023

Average account balance

$34,594

+4.9% from 2023

Annual return

13.45%

-5.71 pp from 2023

Benchmarks

See 33 peers

Peer group

Industry92 - Public Administration

Plan typeDefined contribution

Participants100-249

Cohort33 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.81M

Not enough data

1 years with asset history on file

Average account balance

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

$35K

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.

110

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.

50.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$465K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+13.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

$205

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 4 by compensation

Provider	Service type	Compensation
THE VANGUARD GROUP, INC.4 years Filed as: THE VANGUARD GROUP Service code 64 · EIN 23-1945930	Recordkeeping Fees	$12,760
LPL FINANCIAL4 years Filed as: LPL FINANCIAL RPCP Service code 27 · EIN 04-3046611	Advisory (Plan)	$10,423
ADP BROKER-DEALER4 years Filed as: PENSION CONSULTANTS Service code 13 · EIN 06-1504963	Contract Administrator	$1,710
ASCENSUS LLC3 years Service code 64 · EIN 11-3665754	Recordkeeping Fees	$1

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$23K

$191 / participant

Recordkeeping$8K35.6%
Investment mgmt$10K46.2%
Other trustee fees$2K10.6%
Contract admin$2K7.6%

% of EOY assets

0.593%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: NCHENG LLP
Auditor EIN: 810926770
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$34,594

$56,140-38.4%

$76,383-54.7%

$74,478-53.6%

Participation rate

50.8%

62.6%-11.7pp

79.3%-28.4pp

67.2%-16.4pp

Annual return

13.45%

13.87%-0.4pp

13.79%-0.3pp

1370.56%-1357.1pp

Employer contribution / active EE

$1,578

$2,881-45.2%

$4,587-65.6%

$2,626-39.9%

Participant deferral / active EE

$2,361

$3,154-25.1%

$5,474-56.9%

$4,350-45.7%

Admin fee / account holder

$205

$776-73.6%

$5,147-96.0%

$1,946-89.5%

Provider

Service type

Compensation

THE VANGUARD GROUP, INC.4 years

Filed as: THE VANGUARD GROUP

Service code 64 · EIN 23-1945930

Recordkeeping Fees

$12,760

LPL FINANCIAL4 years

Filed as: LPL FINANCIAL RPCP

Service code 27 · EIN 04-3046611

Advisory (Plan)

$10,423

ADP BROKER-DEALER4 years

Filed as: PENSION CONSULTANTS

Service code 13 · EIN 06-1504963

Contract Administrator

$1,710

ASCENSUS LLC3 years

Service code 64 · EIN 11-3665754

Recordkeeping Fees

NEW WORLD PREPARATORY CHARTER SCHOOL 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NEW WORLD PREPARATORY CHARTER SCHOOL 401(K) 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