Retirement plan

COMMUNITY FOUNDATION OF GREATER MEMPHIS, INC. RETIREMENT SAVINGS PLAN

Name: COMMUNITY FOUNDATION OF GREATER MEMPHIS, INC. - COMMUNITY FOUNDATION OF GREATER MEMPHIS, INC. RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: COMMUNITY FOUNDATION OF GREATER MEMPHIS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COMMUNITY FOUNDATION OF GREATER MEMPHIS, INC. RETIREMENT SAVINGS PLAN, COMMUNITY FOUNDATION OF GREATER MEMPHIS, INC.

COMMUNITY FOUNDATION OF GREATER MEMPHIS, INC.EIN 58-1723645Plan #002PY 2023

1900 UNION AVENUE - MEMPHIS, TN 38104901-722-0025cfgm.orgLinkedIn11-50 employeesphilanthropy

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$3M

+8.9% from 2022

Total participants

-4.5% from 2022

Average account balance

$143,368

+14.1% from 2022

Annual return

1.26%

+9.60 pp from 2022

Benchmarks

See 108,045 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort108,045 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.36M

Not enough data

1 years with asset history on file

Average account balance

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

$182K

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.

126.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$534K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$28K

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

+3.97%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8571

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 codes2E2F2G2J2T3D3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$73K

$5195 / participant

Other / not subdivided$73K100.0%

% of EOY assets

2.416%

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

$143,368

$175,257-18.2%

$149,717-4.2%

$139,456+2.8%

Participation rate

100.0%

83.4%+16.6pp

78.8%+21.2pp

80.3%+19.7pp

Annual return

1.26%

166.70%-165.4pp

134.41%-133.1pp

373.45%-372.2pp

Employer contribution / active EE

$12,697

$5,477+131.8%

$4,820+163.4%

$4,753+167.1%

Participant deferral / active EE

$7,488

$6,521+14.8%

$5,682+31.8%

$6,711+11.6%

Admin fee / account holder

$3,464

$16,156-78.6%

$13,213-73.8%

$11,407-69.6%

COMMUNITY FOUNDATION OF GREATER MEMPHIS, INC. RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COMMUNITY FOUNDATION OF GREATER MEMPHIS, INC. RETIREMENT SAVINGS 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