Retirement plan

FROM THE HEART CHURCH MINISTRIES, INC. RETIREMENT PLAN AND TRUST

Name: FROM THE HEART CHURCH MINISTRIES - FROM THE HEART CHURCH MINISTRIES, INC. RETIREMENT PLAN AND TRUST (2024) Form 5500
Creator: FROM THE HEART CHURCH MINISTRIES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FROM THE HEART CHURCH MINISTRIES, INC. RETIREMENT PLAN AND TRUST, FROM THE HEART CHURCH MINISTRIES

FROM THE HEART CHURCH MINISTRIESEIN 52-1215805Plan #001PY 2024

4949 ALLENTOWN RD - SUITLAND, MD 207463934301-899-9411LinkedIn1-10 employeesreligious institutions

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$10M

+11.3% from 2023

Total participants

122

-2.4% from 2023

Average account balance

$88,665

+12.3% from 2023

Annual return

13.92%

-1.98 pp from 2023

Benchmarks

See 2,053 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort2,053 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.02M

Not enough data

1 years with asset history on file

Average account balance

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

$89K

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.

113

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.

91.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$704K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+13.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$505

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
GLOBAL RETIREMENT PARTNERS LLC1 year Service code 27 · EIN 47-1411118	Advisory (Plan)	$33,369
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290	Contract Administrator	$23,705

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

$57K

$565 / participant

Investment mgmt$33K58.5%
Contract admin$24K41.5%

% of EOY assets

0.570%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SIMPSON & SIMPSON, LLP
Auditor EIN: 953683803
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$88,665

$60,454+46.7%

$81,844+8.3%

$74,459+19.1%

Participation rate

91.1%

63.0%+28.1pp

72.4%+18.7pp

67.2%+23.9pp

Annual return

13.92%

16.87%-2.9pp

778.87%-765.0pp

1369.70%-1355.8pp

Employer contribution / active EE

$1,666

$2,630-36.6%

$2,916-42.9%

$2,626-36.5%

Participant deferral / active EE

$5,306

$3,398+56.1%

$4,323+22.7%

$4,350+22.0%

Admin fee / account holder

$505

$1,490-66.1%

$7,355-93.1%

$1,945-74.0%

Provider

Service type

Compensation

GLOBAL RETIREMENT PARTNERS LLC1 year

Service code 27 · EIN 47-1411118

Advisory (Plan)

$33,369

PRINCIPAL LIFE INSURANCE COMPANY10+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$23,705

FROM THE HEART CHURCH MINISTRIES, INC. RETIREMENT PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FROM THE HEART CHURCH MINISTRIES, INC. RETIREMENT PLAN AND TRUST

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