Home>401K Directory>Logistic Services International Inc Employee Stock Ownership Plan>Form 5500

Logistic Services International, Inc.

Plan Rating

Overview Financials Service Providers Investments Insurance Information

FORM 5500 DATA

Logistic Services International, Inc. Employee Stock Ownership Plan

Plan Rating

Overview Financials Service Providers Investments Insurance Information

Overview

Plan Information

Plan Year01/01/2019 — 12/31/2019
Date of Plan01/01/2006
Net Assets as of 12/31/2019 $60,633,261
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 Arrangement Trust
Plan Benefit Arrangement Trust

Participant Information as of 12/31/2019

Active (Eligible) Participants297
Retired or separated participants receiving benefits194
Other retired or separated participants entitled to future benefits194
Subtotal685
Deceased participants whose beneficiaries are receiving or are entitled to receive benefits8
Total693
Total number of participants as of 01/01/2019765
Number of participants with account balances693
Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested31

Expenses

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

Audit Information

Audit StatusAudited
AuditorDixon Hughes Goodman LLP
Auditor EIN56-0747981
Audit OpinionUnqualified
Audit Type Full Audit

Benefits Provided Under the Plan

Code	Benefit	Description
2I	Stock bonus	A stock bonus plan is a type of profit-sharing by which a corporation uses its own stock to make contributions and distributions.
2P	Leveraged ESOP	An Employee Stock Ownership Plan (ESOP) that acquires employer securities with borrowed money or other debt-financing techniques.
2Q	S Corporation ESOP	The employer maintaining this Employee Stock Ownership Plan (ESOP) is an S Corporation.
3I	Employer Securities Limitations	Plan requiring that all or part of employer contributions be invested and held, at least for a limited period, in employer securities.

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	$1,000,000
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

$1,732,167

Contributions

$1,560,410

Cash Contributions

$1,560,410

	Cash from Employers	$1,560,410
	Cash from Participants	$0
	Others (including rollovers)	$0

Noncash Contributions

Total Earnings on Investments

$171,757

Total Interest

$341

	Interest-Bearing Cash	$341
	U.S. Government Securities	$0
	Corporate Debt Instruments	$0
	Loans (other than to participants)	$0
	Participant Loans	$0
	Interest from Other Investments	$0

Total Dividends

	Preferred Stock	$0
	Common Stock	$0

Rents

Net gain (loss) on sale of assets

	Aggregate Proceeds	$0
	Aggregate Carrying Amount	$0

Total Unrealized Appreciation (depreciation) of assets

$171,416

	Real Estate	$0
	Other	$171,416

Net investment gain (loss) from common/collective trusts

Net investment gain (loss) from pooled separate accounts

Net investment gain (loss) from master trust investment accounts

Net investment gain (loss) from 103-12 investment entities

Net investment gain (loss) from registered investment companies

Other Income

Expenses

$4,873,750

Total Benefit Payments

$4,843,750

	Directly to participants or beneficiaries, including direct rollovers	$4,843,750
	To insurance carriers for the provision of benefits	$0
	Other Benefit Payment Fees	$0

Corrective Distributions

Certain deemed distributions of participant loans

Interest expense

$30,000

Total Administrative Expenses

	Professional Fees	$0
	Contract Administrator Fees	$0
	Investment Advisory and management fees	$0
	Other Administrative Fees	$0

Net Income

$-3,141,583

	Transfers of Assets to this Plan	$0
	Transfers of Assets from this Plan	$0

Asset and Liability Statement

12/31/2019

12/31/2018

Change YOY

Total Assets

$60,633,261

$64,374,844

-5.81%

Total noninterest-bearing cash

0.0%

Receivables

0.0%

Employer Contributions	$0	$0	0.0%
Participant Contributions	$0	$0	0.0%
Other Contributions	$0	$0	0.0%

General Investments

$9,295

$19,291

-51.82%

Interest-bearing cash

$9,295

$19,291

-51.82%

U.S. Government Securities

0.0%

Corporate Debt Instruments

0.0%

	Preferred		$0	$0	0.0%
	All Other		$0	$0	0.0%

Corporate Stocks

0.0%

	Preferred		$0	$0	0.0%
	Common		$0	$0	0.0%

Partnership/joint venture interests

0.0%

Real estate (other than employer real property)

0.0%

Loans (other than to participants)

0.0%

Participants Loans

0.0%

Value of interest in common/collective trusts

0.0%

Value of interest in pooled separate accounts

0.0%

Value of interest in master trust investment accounts

0.0%

Value of interest in 103-12 investment entities

0.0%

Value of interest in registered investment companies

0.0%

Value of funds held in insurance co. general account

0.0%

Other Investments

0.0%

Employer-related Investments

$60,623,966

$64,355,553

-5.80%

	Employer Securities		$60,623,966	$64,355,553	-5.80%
	Employer Real Property		$0	$0	0.0%

Buildings and other property used in plan operation

0.0%

Total Liabilities

$600,000

-100.00%

Benefit Claims Payable (1)	$0	$0	0.0%
Operating Payables (1)	$0	$0	0.0%
Acquisition Indebtedness (1)	$0	$600,000	-100.00%
Other liabilities (1)	$0	$0	0.0%

Net Assets

$60,633,261

$63,774,844

-4.93%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

There is no information on eligible indirect compensation for this plan.

Other Service Providers Receiving Direct or Indirect Compensation

There are no service providers listed for this plan.

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

No investments information available for this plan.

Insurance Information

There are no insurance carriers listed for this plan.