Retirement plan

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF THE WELLSPRING ALLIANCE FOR FAMILIES, INC.

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

THE WELLSPRING ALLIANCE FOR FAEIN 72-0442226Plan #001PY 2024

1515 JACKSON ST - MONROE, LA 712022063318-651-9314LinkedIn1-10 employeesnon-profit organization management

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$3M

+20.0% from 2023

Total participants

115

-11.5% from 2023

Average account balance

$27,688

+36.3% from 2023

Annual return

14.39%

-1.63 pp from 2023

Benchmarks

See 21,729 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort21,729 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.05M

Not enough data

1 years with asset history on file

Average account balance

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

$28K

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.

110

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.

94.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$294K

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

+14.39%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12

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 CORP6 years Service code 12 320 PARK AVENUE · NEW YORK, NY 10022	Claims processing; Recordkeeping and ...	$1,324

Plan features & details

Pension benefit codes2F2G2S2T3D

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.
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

1 tripped

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

$1K

$14 / participant

Other / not subdivided$1K100.0%

% of EOY assets

0.043%

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: BDG-CPAS
Auditor EIN: 222625944
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$27,688

$81,276-65.9%

$155,574-82.2%

$80,925-65.8%

Participation rate

94.8%

66.2%+28.6pp

78.2%+16.6pp

67.7%+27.2pp

Annual return

14.39%

33.36%-19.0pp

64.87%-50.5pp

35.65%-21.3pp

Employer contribution / active EE

$1,557

$3,103-49.8%

$4,676-66.7%

$2,756-43.5%

Participant deferral / active EE

$1,479

$3,453-57.2%

$5,629-73.7%

$4,299-65.6%

Admin fee / account holder

$12

$7,993-99.8%

$15,914-99.9%

$6,940-99.8%

Provider

Service type

Compensation

MUTUAL OF AMERICA INVESTMENT CORP6 years

Service code 12

320 PARK AVENUE · NEW YORK, NY 10022

Claims processing; Recordkeeping and ...

$1,324

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF THE WELLSPRING ALLIANCE FOR FAMILIES, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF THE WELLSPRING ALLIANCE FOR FAMILIES, INC.

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