Retirement plan

FOOD FOR THE POOR 403B PLAN

Name: FOOD FOR THE POOR, INC. - FOOD FOR THE POOR 403B PLAN (2024) Form 5500
Creator: FOOD FOR THE POOR, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FOOD FOR THE POOR 403B PLAN, FOOD FOR THE POOR, INC.

FOOD FOR THE POOR, INC.EIN 59-2174510Plan #001PY 2024

6401 LYONS ROAD - COCONUT CREEK, FL 330733602954-427-2222foodforthepoor.orgLinkedIn201-500 employeesnon-profit organization management

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$26.1M

+2.0% from 2023

Total participants

409

-14.1% from 2023

Average account balance

$67,817

+8.9% from 2023

Annual return

11.96%

-2.91 pp from 2023

Benchmarks

See 4,117 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,117 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$26.11M

Not enough data

1 years with asset history on file

Average account balance

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

$68K

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.

385

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.

91.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.74M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+11.96%

Not enough data

1 years with return on file

Admin fee / account holder

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

$128

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
MERRILL LYNCH PIERCE FENNER & SMITH4 years Filed as: MERRILL LYNCH, PIERCE, FENNER & SMI Service code 99 · EIN 13-5674085	Other Fees	$45,039
VOYA RETIREMENT INSURANCE & ANNUITY10+ years Service code 26 · EIN 71-0294708	Advisory (Participants)	$7,112

Plan features & details

Pension benefit codes2F2G2L2M2T

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.
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

$49K

$174 / participant

Investment mgmt$7K14.9%
Contract admin$42K84.5%
Other / not subdivided$3000.6%

% of EOY assets

0.189%

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: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$67,817

$50,919+33.2%

$155,556-56.4%

$77,762-12.8%

Participation rate

91.5%

63.1%+28.4pp

78.2%+13.3pp

70.6%+20.9pp

Annual return

11.96%

34.84%-22.9pp

64.84%-52.9pp

31.27%-19.3pp

Employer contribution / active EE

$1,470

$1,991-26.2%

$4,675-68.6%

$2,728-46.1%

Participant deferral / active EE

$4,692

$2,824+66.1%

$5,631-16.7%

$4,651+0.9%

Admin fee / account holder

$128

$437-70.7%

$15,885-99.2%

$433-70.4%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH4 years

Filed as: MERRILL LYNCH, PIERCE, FENNER & SMI

Service code 99 · EIN 13-5674085

Other Fees

$45,039

VOYA RETIREMENT INSURANCE & ANNUITY10+ years

Service code 26 · EIN 71-0294708

Advisory (Participants)

$7,112

FOOD FOR THE POOR 403B PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FOOD FOR THE POOR 403B 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