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FORM 5500 DATA

401k Profit-Sharing Plan for Employee Goodwill Industries Vocational Enterprises, Inc.

Overview

Plan Information

  • Plan Year07/01/2017 — 06/30/2018
  • Date of Plan07/01/2000
  • Net Assets as of 06/30/2018 $2,393,685
  • Plan Number2
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding ArrangementInsurance
  • Plan Benefit ArrangementInsurance

Participant Information as of 06/30/2018

  • Active (Eligible) Participants221
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits60
  • Subtotal281
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits1
  • Total282
  • Total number of participants as of 07/01/2017257
  • Number of participants with account balances272
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested18

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address700 Garfield Ave
  • CityDuluth
  • StateMN
  • Zip55802-2634
  • Telephone(218) 722-6351
  • EIN41-0919602
  • Industry Code813000
  • Named AdministratorEmbie Hoff

Audit Information

  • Audit StatusAudited
  • AuditorRsm Us LLP
  • Auditor EIN42-0714325
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
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.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $250,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $652,254
Contributions $482,981
Cash Contributions $482,981
Cash from Employers $138,135
Cash from Participants $55,146
Others (including rollovers) $289,700
Noncash Contributions $0
Total Earnings on Investments $169,273
Total Interest $8,207
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $1,864
Interest from Other Investments $6,343
Total Dividends $0
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $161,066
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $0
Other Income $0
Expenses $347,337
Total Benefit Payments $346,791
Directly to participants or beneficiaries, including direct rollovers $346,791
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $546
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $546
Net Income $304,917
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

06/30/2018 06/30/2017 Change YOY
Total Assets $2,393,685 $2,088,768 14.60%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $42,516 $48,050 -11.52%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $1,686,818 $1,431,890 17.80%
Value of funds held in insurance co. general account $664,351 $608,828 9.12%
Other Investments $0 $0 0.0%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $2,393,685 $2,088,768 14.60%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Management and Research Co
  • The Vanguard Group Inc
  • Deutsche Investment Management Amer
  • Oppenheimer Funds Inc
  • American Century Investment Managem
  • Calvert Investment Management Inc
  • Capital Research and Management Com
  • Pimco
  • T Rowe Price Associates Inc
  • Mfs Variable Insurance Trust III

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Mutual of America Life Insurance Co Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Account maintenance fees Insurance Carrier $0 $0 $0
Total $0 $0 $0

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Separate Account Number Fs1 Mutual of America DFE: Pooled Separate Account $1,686,818
Total $1,686,818

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Mutual of America 282
EIN 13-1614399
Industry Code 88668
Contract Number 012176I
Contract Year 07/01/2017 — 06/30/2018
Value in General Account at Year End $664,351
Value in Separate Accounts at Year End $1,686,818
Insurance Fees and Commissions $822
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Minneapolis Regional Office Normandale Lake Office Park 8300 No Bloomington, MN 55437 -1036 Insurance Agent or Broker $0 $822 PORTION OF INCENTIVE COMP. PROGRAM
Allocated Funds
Type of Contract Unspecified
Basis of premium rates N/A
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract Deposit Administration
Balance at the end of the previous year $608,828
Additions $131,019
Contributions Deposited during the year $121,062
Dividends and credits $0
Interest credited during the year $6,343
Transferred from separate account $0
Other $3,614
Total of Balance and Additions $739,847
Deductions $75,496
Disbursed from fund to pay benefits or purchase annuities during the year $75,172
Administration charge made by carrier $324
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $664,351