Retirement plan

HEART OF FLORIDA UNITED WAY, INC. PROTOTYPE 401K PROFIT SHARING PLAN

Name: HEART OF FLORIDA UNITED WAY, INC. - HEART OF FLORIDA UNITED WAY, INC. PROTOTYPE 401K PROFIT SHARING PLAN (2023) Form 5500
Creator: HEART OF FLORIDA UNITED WAY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HEART OF FLORIDA UNITED WAY, INC. PROTOTYPE 401K PROFIT SHARING PLAN, HEART OF FLORIDA UNITED WAY, INC.

HEART OF FLORIDA UNITED WAY, INC.EIN 59-0808854Plan #003PY 2023

1940 CANNERY WAY - ORLANDO, FL 328044718407-835-0900hfuw.orgLinkedIn51-200 employeesnon-profit organization management

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$7.8M

+5.9% from 2022

Total participants

270

-3.6% from 2022

Average account balance

$29,208

+1.5% from 2022

Annual return

15.26%

+31.16 pp from 2022

Benchmarks

See 1,917 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,917 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.76M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

213

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.

97.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$587K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+13.93%

Not enough data

1 years with return on file

Admin fee / account holder

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

$13

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 1 by compensation

Provider	Service type	Compensation
MUTUAL OF AMERICA INVESTMENT CORP5 years Service code 12 320 PARK AVENUE · NEW YORK, NY 10022	Participant loan processing; Recordke...	$1,299

Plan features & details

Pension benefit codes2G3D2J2E2S2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

0 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$1K

$9 / participant

Other / not subdivided$1K100.0%

% of EOY assets

0.017%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CHERRY BAKAERT, LLP
Auditor EIN: 560574444
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$29,208

$58,312-49.9%

$86,656-66.3%

$71,529-59.2%

Participation rate

97.9%

65.0%+32.9pp

71.7%+26.2pp

67.9%+30.0pp

Annual return

15.26%

24.08%-8.8pp

593.09%-577.8pp

28.97%-13.7pp

Employer contribution / active EE

$1,494

$2,576-42.0%

$3,025-50.6%

$2,590-42.3%

Participant deferral / active EE

$2,013

$3,439-41.5%

$4,439-54.6%

$4,291-53.1%

Admin fee / account holder

$1,057-99.5%

$5,619-99.9%

$1,588-99.7%

Provider

Service type

Compensation

MUTUAL OF AMERICA INVESTMENT CORP5 years

Service code 12

320 PARK AVENUE · NEW YORK, NY 10022

Participant loan processing; Recordke...

$1,299

HEART OF FLORIDA UNITED WAY, INC. PROTOTYPE 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HEART OF FLORIDA UNITED WAY, INC. PROTOTYPE 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