Retirement plan

FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, INC. 403(B) PLAN

Name: FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, INC - FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, INC. 403(B) PLAN (2020) Form 5500
Creator: FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, INC. 403(B) PLAN, FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, INC

FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, INCEIN 56-1283426Plan #001PY 2020

1924 CAPITAL BLVD - RALEIGH, NC 27604919-865-3054foodbankcenc.orgLinkedIn201-500 employeesnon-profit organization management

Other plans on this EIN

1 filing

#002Retirement-$479K assets

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$6.4M

+15.6% from 2019

Total participants

119

-10.5% from 2019

Average account balance

$53,694

+28.2% from 2019

Annual return

14.49%

-6.70 pp from 2019

Benchmarks

See 8,769 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort8,769 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.99M

Not enough data

1 years with asset history on file

Average account balance

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

$86K

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.

206.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$505K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+13.11%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5864

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

Top 5 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 52 · EIN 04-1590850 1295 STATE STREET · SPRINGFIELD, MA 011110001	Indirect Investment Fees	$2,527
AMERICAN FUNDS1 year Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
COLUMBIA1 year Service code 52 · EIN 94-1687665	Indirect Investment Fees	$0
QRPS, INC.1 year Service code 13 · EIN 56-1606387 P.O. BOX 99163 · RALEIGH, NC 276249163	Contract Administrator	$0
T ROWE PRICE RPS INC1 year Filed as: T. ROWE PRICE Service code 52 · EIN 52-1151266	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2G2M2J2T

Plan features

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.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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.

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$5K

$70 / participant

Investment mgmt$5K100.0%

% of EOY assets

0.073%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CHERRY BEKAERT LLP
Auditor EIN: 560574444
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$53,694

$60,128-10.7%

$90,440-40.6%

$79,852-32.8%

Participation rate

100.0%

65.0%+35.0pp

72.7%+27.3pp

69.6%+30.4pp

Annual return

14.49%

71.95%-57.5pp

1294.38%-1279.9pp

31.72%-17.2pp

Employer contribution / active EE

$4,799

$2,068+132.0%

$3,263+47.1%

$2,471+94.2%

Participant deferral / active EE

$3,203

$2,939+9.0%

$3,964-19.2%

$3,740-14.4%

Admin fee / account holder

$39

$3,977-99.0%

$5,615-99.3%

$5,306-99.3%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 52 · EIN 04-1590850

1295 STATE STREET · SPRINGFIELD, MA 011110001

Indirect Investment Fees

$2,527

AMERICAN FUNDS1 year

Service code 52 · EIN 95-1411037

Indirect Investment Fees

COLUMBIA1 year

Service code 52 · EIN 94-1687665

Indirect Investment Fees

QRPS, INC.1 year

Service code 13 · EIN 56-1606387

P.O. BOX 99163 · RALEIGH, NC 276249163

Contract Administrator

T ROWE PRICE RPS INC1 year

Filed as: T. ROWE PRICE

Service code 52 · EIN 52-1151266

Indirect Investment Fees

FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, INC. 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, 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