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FORM 5500 DATA

Industrial Finishes & Systems, Inc. Profit Sharing 401k Plan

Overview

Plan Information

  • Plan Year07/01/2019 — 06/30/2020
  • Date of Plan07/01/1976
  • Net Assets as of 06/30/2020 $19,504,144
  • 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? No
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 06/30/2020

  • Active (Eligible) Participants268
  • Retired or separated participants receiving benefits11
  • Other retired or separated participants entitled to future benefits62
  • Subtotal341
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits2
  • Total343
  • Total number of participants as of 07/01/2019343
  • Number of participants with account balances342
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested9

Expenses

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

Sponsor Information

  • AddressPo Box 21510
  • CityEugene
  • StateOR
  • Zip97402
  • Telephone(541) 485-1503
  • EIN93-0520246
  • Industry Code332900

Audit Information

  • Audit StatusAudited
  • AuditorMoss Adams LLP
  • Auditor EIN91-0189318
  • Audit OpinionUnqualified
  • Audit Type Full 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.
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.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

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 $500,000
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? Yes
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 $2,383,435
Contributions $1,845,684
Cash Contributions $1,845,684
Cash from Employers $798,280
Cash from Participants $1,047,404
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $537,751
Total Interest $135,891
Interest-Bearing Cash $7,869
U.S. Government Securities $-17,963
Corporate Debt Instruments $145,985
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $0
Total Dividends $299,802
Preferred Stock $116,000
Common Stock $183,802
Rents $0
Net gain (loss) on sale of assets $-228,473
Aggregate Proceeds $7,124,376
Aggregate Carrying Amount $7,352,849
Total Unrealized Appreciation (depreciation) of assets $72,333
Real Estate $0
Other $72,333
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $0
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 $258,198
Other Income $0
Expenses $1,188,887
Total Benefit Payments $1,015,742
Directly to participants or beneficiaries, including direct rollovers $1,015,742
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 $173,145
Professional Fees $64,542
Contract Administrator Fees $0
Investment Advisory and management fees $101,091
Other Administrative Fees $7,512
Net Income $1,194,548
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

06/30/2020 06/30/2019 Change YOY
Total Assets $19,504,144 $18,309,596 6.52%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $574,329 $589,594 -2.59%
Employer Contributions $546,527 $544,771 0.32%
Participant Contributions $6,995 $2,019 246.46%
Other Contributions $20,807 $42,804 -51.39%
General Investments $1,847,322 $2,901,186 -36.33%
Interest-bearing cash $1,753,486 $848,025 106.77%
U.S. Government Securities $93,836 $2,053,161 -95.43%
Corporate Debt Instruments $3,467,931 $3,868,309 -10.35%
Preferred $0 $0 0.0%
All Other $3,467,931 $3,868,309 -10.35%
Corporate Stocks $7,138,026 $6,453,467 10.61%
Preferred $0 $0 0.0%
Common $7,138,026 $6,453,467 10.61%
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 $0 $0 0.0%
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 $6,476,536 $4,497,040 44.02%
Value of funds held in insurance co. general account $0 $0 0.0%
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 $19,504,144 $18,309,596 6.52%

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

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Sapient Private Wealth Management Investment advisory (plan), Investment management fees paid directly by plan Broker $101,091 $0 $101,091
Pension Planners Northwest Contract Administrator TPA $47,842 $0 $47,842
Moss Adams LLP Accounting (including auditing) Accountant/Auditor $16,700 $0 $16,700
Total $165,633 $0 $165,633

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

No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.