Retirement plan

MIDLAND CENTER FOR THE ARTS DEFINED CONTRIBUTION PLAN

Name: MIDLAND CENTER FOR THE ARTS, INC. - MIDLAND CENTER FOR THE ARTS DEFINED CONTRIBUTION PLAN (2022) Form 5500
Creator: MIDLAND CENTER FOR THE ARTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDLAND CENTER FOR THE ARTS DEFINED CONTRIBUTION PLAN, MIDLAND CENTER FOR THE ARTS, INC.

MIDLAND CENTER FOR THE ARTS, INC.EIN 38-6114020Plan #002PY 2022

1801 WEST SAINT ANDREWS - MIDLAND, MI 48640989-631-5930midlandcenter.orgLinkedIn11-50 employeesentertainment

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$4.3M

-9.4% from 2021

Total participants

-28.8% from 2021

Average account balance

$49,893

-15.7% from 2021

Annual return

-10.52%

-176.57 pp from 2021

Benchmarks

See 2,894 peers

Peer group

Industry71 - Arts, Entertainment, and Recreation

Plan typeDefined contribution

Participants25-99

Cohort2,894 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.70M

Not enough data

1 years with asset history on file

Average account balance

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

$47K

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.

100

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.

105.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$301K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+16.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$13766

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 codes2F2G2L2M2S2T3D

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

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

$233K

$4394 / participant

Other / not subdivided$233K100.0%

% of EOY assets

5.427%

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

$49,893

$46,697+6.8%

$117,533-57.5%

$68,486-27.1%

Participation rate

94.3%

56.8%+37.6pp

70.6%+23.7pp

67.9%+26.4pp

Annual return

-10.52%

-14.52%+4.0pp

29.77%-40.3pp

-7.85%-2.7pp

Employer contribution / active EE

$1,818

$1,506+20.8%

$4,179-56.5%

$2,597-30.0%

Participant deferral / active EE

$3,177

$2,637+20.5%

$4,072-22.0%

$4,028-21.1%

Admin fee / account holder

$2,708

$4,023-32.7%

$5,647-52.0%

$5,404-49.9%

MIDLAND CENTER FOR THE ARTS DEFINED CONTRIBUTION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIDLAND CENTER FOR THE ARTS DEFINED CONTRIBUTION 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