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FORM 5500 DATA

ADCS Clinics, LLC, 401k Retirement Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/1991
  • Net Assets as of 12/31/2019 $29,892,402
  • Plan Number1
  • 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 Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants1,740
  • Retired or separated participants receiving benefits13
  • Other retired or separated participants entitled to future benefits218
  • Subtotal1,971
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total1,971
  • Total number of participants as of 01/01/20191,960
  • Number of participants with account balances825
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested29

Expenses

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

Sponsor Information

  • Address151 Southhall Lane Suite 300
  • CityMaitland
  • StateFL
  • Zip32751
  • Telephone(407) 875-2080
  • EIN59-3134183
  • Industry Code621111
  • Named AdministratorJamie Danley

Audit Information

  • Audit StatusAudited
  • AuditorVestal & Wiler, CPAS
  • Auditor EIN59-3198021
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
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.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all 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 A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
3D Master plan A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

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 $9,889,372
Contributions $4,827,567
Cash Contributions $4,827,567
Cash from Employers $198,480
Cash from Participants $4,219,400
Others (including rollovers) $409,687
Noncash Contributions $0
Total Earnings on Investments $4,885,664
Total Interest $75,631
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $10,492
Interest from Other Investments $65,139
Total Dividends $3,761
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 $4,806,272
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 $176,141
Expenses $2,617,172
Total Benefit Payments $1,679,683
Directly to participants or beneficiaries, including direct rollovers $1,679,683
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $870,957
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $66,532
Professional Fees $0
Contract Administrator Fees $3,996
Investment Advisory and management fees $58,463
Other Administrative Fees $4,073
Net Income $7,272,200
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 $29,892,402 $22,620,202 32.15%
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 $7,684 $0 0.0%
Interest-bearing cash $7,684 $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 $216,045 $204,256 5.77%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $28,795,677 $21,715,018 32.61%
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 $0 $0 0.0%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $872,996 $700,928 24.55%
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 $29,892,402 $22,620,202 32.15%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • John Hancock Life Insurance Company

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
Independent Financial Partners Investment advisory (participants) Ria and Ia $63,738 $0 $63,738
John Hancock USA Recordkeeping and information management (computing, tabulating, data processing, etc.), Sub-transfer agency fees, Soft dollars commissions, Investment management, Float revenue, Shareholder servicing fees, Distribution (12b-1) fees Recordkeeper $3,174 $0 $3,174
Total $66,912 $0 $66,912

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
American Funds 2030 Td John Hancock USA DFE: Pooled Separate Account $3,391,142
American Funds 2035 Td John Hancock USA DFE: Pooled Separate Account $2,840,988
American Funds 2020 Td John Hancock USA DFE: Pooled Separate Account $2,012,220
American Funds 2025 Td John Hancock USA DFE: Pooled Separate Account $1,969,715
American Funds 2045 Td John Hancock USA DFE: Pooled Separate Account $1,962,134
American Funds 2040 Td John Hancock USA DFE: Pooled Separate Account $1,958,339
American Funds 2050 Td John Hancock USA DFE: Pooled Separate Account $1,646,381
American Funds 2055 Td John Hancock USA DFE: Pooled Separate Account $1,077,314
500 Index Fund John Hancock USA DFE: Pooled Separate Account $1,069,232
John Hancock Stable Val John Hancock USA DFE: Pooled Separate Account $1,015,516
American Funds 2010 Td John Hancock USA DFE: Pooled Separate Account $998,581
Total Stock Market Index Fund John Hancock USA DFE: Pooled Separate Account $921,390
American Funds 2015 Td John Hancock USA DFE: Pooled Separate Account $858,750
Capital Appreciation Fund John Hancock USA DFE: Pooled Separate Account $681,544
American Balanced Fund John Hancock USA DFE: Pooled Separate Account $619,671
Fundamental Investors John Hancock USA DFE: Pooled Separate Account $551,301
T. Rowe Price Equity Inc John Hancock USA DFE: Pooled Separate Account $458,925
Intl Equity Index Fund John Hancock USA DFE: Pooled Separate Account $413,426
Vanguard Small Cap Grow Index John Hancock USA DFE: Pooled Separate Account $403,041
Small Cap Index Fund John Hancock USA DFE: Pooled Separate Account $391,600
Europacific Growth Fund John Hancock USA DFE: Pooled Separate Account $370,347
Vanguard Growth Index Fund John Hancock USA DFE: Pooled Separate Account $342,814
Vanguard Mid-Cap Growth Etf John Hancock USA DFE: Pooled Separate Account $306,266
Fidelity Advisor Total Bond John Hancock USA DFE: Pooled Separate Account $294,437
Dodge & Cox International St John Hancock USA DFE: Pooled Separate Account $290,571
Vanguard Value Index Fund John Hancock USA DFE: Pooled Separate Account $290,503
Vanguard Small Cap Value Index John Hancock USA DFE: Pooled Separate Account $219,116
Jpmorgan Midcap Value Fund John Hancock USA DFE: Pooled Separate Account $215,211
American Funds 2060 Td John Hancock USA DFE: Pooled Separate Account $180,276
Real Est. Securities Fund John Hancock USA DFE: Pooled Separate Account $151,676
New Perspective Fund John Hancock USA DFE: Pooled Separate Account $147,683
Invesco Opp Developing Mkt John Hancock USA DFE: Pooled Separate Account $147,211
Total Bond Market Fund John Hancock USA DFE: Pooled Separate Account $96,660
U.S. High Yield Bond Fund John Hancock USA DFE: Pooled Separate Account $90,526
Invesco Opp Intl Growth Fund John Hancock USA DFE: Pooled Separate Account $85,206
Pimco Real Return John Hancock USA DFE: Pooled Separate Account $75,222
Mid Cap Index Fund John Hancock USA DFE: Pooled Separate Account $26,374
Pimco Global Bond Opps Fund John Hancock USA DFE: Pooled Separate Account $25,452
Total $28,596,761

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
John Hancock Life Insurance Company (U.S.A.) 912
EIN 01-0233346
Industry Code 65838
Contract Number 96045
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $0
Value in Separate Accounts at Year End $28,795,678
Insurance Fees and Commissions $5,686
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Dorsa Consulting, Inc. P.O. Box 720159 Sandy Springs, GA 30358 Third Party Administrator $0 $5,686 TPA ADMIN FEES
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
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 Unspecified
Balance at the end of the previous year $0
Additions $0
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $0
Other $0
Total of Balance and Additions $0
Deductions $0
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $0