Retirement plan

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

Name: MIDWEST ART CONSERVATION CENTER, INC. - MIDWEST ART CONSERVATION CENTER, INC. 403(B) PLAN (2023) 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 2023

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)

$2.7M

+22.7% from 2022

Total participants

0.0% from 2022

Average account balance

$135,826

+22.7% from 2022

Annual return

15.59%

+27.05 pp from 2022

Benchmarks

See 41,808 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort41,808 peers

Snapshot2023

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

$20K

$1527 / participant

Other / not subdivided$20K100.0%

% of EOY assets

0.731%

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

$135,826

$96,678+40.5%

$86,640+56.8%

$139,466-2.6%

Participation rate

100.0%

74.4%+25.6pp

71.7%+28.3pp

80.3%+19.7pp

Annual return

15.59%

106.69%-91.1pp

592.52%-576.9pp

373.66%-358.1pp

Employer contribution / active EE

$3,941

$3,265+20.7%

$3,024+30.3%

$4,754-17.1%

Participant deferral / active EE

$9,721

$4,837+101.0%

$4,438+119.0%

$6,712+44.8%

Admin fee / account holder

$992

$6,410-84.5%

$5,616-82.3%

$11,409-91.3%

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