Retirement plan

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF MENDING THE SACRED HOOP

Name: MENDING THE SACRED HOOP - 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF MENDING THE SACRED HOOP (2024) Form 5500
Creator: MENDING THE SACRED HOOP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF MENDING THE SACRED HOOP, MENDING THE SACRED HOOP

MENDING THE SACRED HOOPEIN 61-1520024Plan #001PY 2024

202 W 2ND ST - DULUTH, MN 558021934888-305-1650mshoop.orgLinkedIn1-10 employees

Prospect flagsHigh feesLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$99K

-23.9% from 2023

Total participants

+8.3% from 2023

Average account balance

$7,613

-29.7% from 2023

Annual return

10.35%

+3.68 pp from 2023

Benchmarks

See 109,389 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,389 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$99K

Not enough data

1 years with asset history on file

Average account balance

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

$8K

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.

260.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$12K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+10.35%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4356

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 codes2G3D2J2E2T

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.
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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$57K

$11325 / participant

Other / not subdivided$57K100.0%

% of EOY assets

57.215%

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

$7,613

$183,592-95.9%

$155,574-95.1%

$145,877-94.8%

Participation rate

100.0%

82.7%+17.3pp

78.2%+21.8pp

80.3%+19.7pp

Annual return

10.35%

61.37%-51.0pp

64.87%-54.5pp

551.28%-540.9pp

Employer contribution / active EE

$1,867

$5,317-64.9%

$4,676-60.1%

$4,663-60.0%

Participant deferral / active EE

$500

$6,466-92.3%

$5,629-91.1%

$6,691-92.5%

Admin fee / account holder

$4,356

$19,316-77.4%

$15,914-72.6%

$13,402-67.5%

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF MENDING THE SACRED HOOP

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF MENDING THE SACRED HOOP

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