Retirement plan

MIDWEST ART CONSERVATION CENTER, INC. 403(B) PLAN

Name: MIDWEST ART CONSERVATION CENTER, INC. - MIDWEST ART CONSERVATION CENTER, INC. 403(B) PLAN (2021) Form 5500
Creator: MIDWEST ART CONSERVATION CENTER, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDWEST ART CONSERVATION CENTER, INC. 403(B) PLAN, MIDWEST ART CONSERVATION CENTER, INC.

MIDWEST ART CONSERVATION CENTER, INC.EIN 41-1312834Plan #001PY 2021

2400 3RD AVENUE SOUTH - MINNEAPOLIS, MN 55404612-870-3120preserveart.orgLinkedIn11-50 employeesfine art

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.4M

+13.7% from 2020

Total participants

+5.6% from 2020

Average account balance

$125,681

+7.7% from 2020

Annual return

13.90%

-0.43 pp from 2020

Benchmarks

See 37,618 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort37,618 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.93M

Not enough data

1 years with asset history on file

Average account balance

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

$357K

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.

137.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$192K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$24K

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

+16.23%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1350

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 codes2M2F2G3D

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.
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

$130K

$10831 / participant

Other / not subdivided$130K100.0%

% of EOY assets

5.443%

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

$125,681

$109,872+14.4%

$98,483+27.6%

$167,536-25.0%

Participation rate

100.0%

75.8%+24.2pp

73.3%+26.7pp

82.1%+17.9pp

Annual return

13.90%

1959.31%-1945.4pp

1494.38%-1480.5pp

478.82%-464.9pp

Employer contribution / active EE

$3,650

$3,225+13.2%

$2,961+23.3%

$4,839-24.6%

Participant deferral / active EE

$6,731

$4,673+44.0%

$4,276+57.4%

$6,342+6.1%

Admin fee / account holder

$6,840

$6,757+1.2%

$5,953+14.9%

$12,315-44.5%

MIDWEST ART CONSERVATION CENTER, INC. 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIDWEST ART CONSERVATION CENTER, INC. 403(B) 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