Retirement plan

DIGITAL PROMISE 401(K) PLAN

Name: DIGITAL PROMISE - DIGITAL PROMISE 401(K) PLAN (2024) Form 5500
Creator: DIGITAL PROMISE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DIGITAL PROMISE 401(K) PLAN, DIGITAL PROMISE

DIGITAL PROMISEEIN 46-5460594Plan #001PY 2024

1001 CONN. AVE NW #935 - WASHINGTON, DC 20036202-450-3675digitalpromise.orgLinkedIn201-500 employeeshigher education

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$15.3M

+44.9% from 2023

Total participants

280

+8.5% from 2023

Average account balance

$54,718

+33.0% from 2023

Annual return

16.27%

-8.04 pp from 2023

Benchmarks

See 1,573 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants100-249

Cohort1,573 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.32M

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

280

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.51M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+16.27%

Not enough data

1 years with return on file

Admin fee / account holder

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

$95

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
ALLIANCE PENSION CONSULTANTS, LLC4+ years Filed as: ALLIANT INSURANCE SERVICES, INC. Service code 99 101 PARK AVENUE · NEW YORK, NY 10178	Other Fees	$26,355
THE VANGUARD GROUP, INC.4+ years Filed as: THE VANGUARD GROUP Service code 99 · EIN 23-1945930	Other Fees	$1,875

Plan features & details

Pension benefit codes2E2F2G2J3D

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.
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

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$26K

$125 / participant

Contract admin$26K100.0%

% of EOY assets

0.173%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: COUNCILOR, BUCHANAN & MITCHELL, PC
Auditor EIN: 521711839
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$54,718

$69,708-21.5%

$67,560-19.0%

$74,478-26.5%

Participation rate

100.0%

71.4%+28.6pp

72.9%+27.1pp

67.2%+32.8pp

Annual return

16.27%

-40.67%+56.9pp

3533.50%-3517.2pp

1370.56%-1354.3pp

Employer contribution / active EE

$6,809

$2,715+150.8%

$2,737+148.8%

$2,626+159.3%

Participant deferral / active EE

$9,844

$3,637+170.7%

$4,004+145.9%

$4,350+126.3%

Admin fee / account holder

$95

$887-89.3%

$3,994-97.6%

$1,946-95.1%

Provider

Service type

Compensation

ALLIANCE PENSION CONSULTANTS, LLC4+ years

Filed as: ALLIANT INSURANCE SERVICES, INC.

Service code 99

101 PARK AVENUE · NEW YORK, NY 10178

Other Fees

$26,355

THE VANGUARD GROUP, INC.4+ years

Filed as: THE VANGUARD GROUP

Service code 99 · EIN 23-1945930

Other Fees

$1,875

DIGITAL PROMISE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DIGITAL PROMISE 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