Retirement plan

NORTON MUSEUM OF ART, INC 401K PROFIT SHARING PLAN

Name: NORTON MUSEUM OF ART, INC - NORTON MUSEUM OF ART, INC 401K PROFIT SHARING PLAN (2023) Form 5500
Creator: NORTON MUSEUM OF ART, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTON MUSEUM OF ART, INC 401K PROFIT SHARING PLAN, NORTON MUSEUM OF ART, INC

NORTON MUSEUM OF ART, INCEIN 59-0624432Plan #001PY 2023

1451 S OLIVE AVE - WEST PALM BEACH, FL 33401561-832-5196norton.orgLinkedIn51-200 employeesmuseums and institutions

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$2.9M

+8.8% from 2022

Total participants

135

+4.7% from 2022

Average account balance

$28,617

+16.3% from 2022

Annual return

14.35%

+29.26 pp from 2022

Benchmarks

See 3,103 peers

Peer group

Industry71 - Arts, Entertainment, and Recreation

Plan typeDefined contribution

Participants25-99

Cohort3,103 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.11M

Not enough data

1 years with asset history on file

Average account balance

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

$36K

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.

58.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$237K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+11.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$37

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 3 by compensation

Provider	Service type	Compensation
EDWARD JONES8 years Service code 15 · EIN 43-0345811	Recordkeeping	$13,596
ADP BROKER-DEALER4 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745	Recordkeeping	$3,698
ADP BROKER-DEALER8 years Service code 49 · EIN 22-3319984	Other Services	$0

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$9K

$95 / participant

Recordkeeping$2K21.4%
Investment mgmt$7K78.6%

% of EOY assets

0.299%

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: TEMPLETON & CO.
Auditor EIN: 141918990
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$28,617

$49,199-41.8%

$121,204-76.4%

$75,173-61.9%

Participation rate

62.6%

55.4%+7.2pp

69.5%-6.9pp

67.2%-4.6pp

Annual return

14.35%

56.04%-41.7pp

987.18%-972.8pp

160.72%-146.4pp

Employer contribution / active EE

$1,547-100.0%

$4,170-100.0%

$2,671-100.0%

Participant deferral / active EE

$2,650

$2,630+0.8%

$4,083-35.1%

$4,126-35.8%

Admin fee / account holder

$86

$3,946-97.8%

$5,651-98.5%

Provider

Service type

Compensation

EDWARD JONES8 years

Service code 15 · EIN 43-0345811

Recordkeeping

$13,596

ADP BROKER-DEALER4 years

Filed as: ADP, INC.

Service code 15 · EIN 13-3036745

Recordkeeping

$3,698

ADP BROKER-DEALER8 years

Service code 49 · EIN 22-3319984

Other Services

NORTON MUSEUM OF ART, INC 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTON MUSEUM OF ART, INC 401K PROFIT SHARING 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