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FORM 5500 DATA

Looking Upwards, Inc. Retirement Plan

Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan01/01/1985
  • Net Assets as of 12/31/2018 $4,479,060
  • 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 12/31/2018

  • Active (Eligible) Participants390
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits162
  • Subtotal552
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total552
  • Total number of participants as of 01/01/2018335
  • Number of participants with account balances322
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

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

Sponsor Information

  • Address438 East Main Road Irongate II
  • CityMiddletown
  • StateRI
  • Zip02842
  • Telephone(401) 847-0960
  • EIN05-0376075
  • Industry Code813000
  • Named AdministratorCarrie W Miranda

Audit Information

  • Audit StatusAudited
  • AuditorKahn, Litwin, Renza & Co., Ltd
  • Auditor EIN05-0409384
  • 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.
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 $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? 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 $-71,455
Contributions $264,921
Cash Contributions $264,921
Cash from Employers $0
Cash from Participants $253,889
Others (including rollovers) $11,032
Noncash Contributions $0
Total Earnings on Investments $-336,376
Total Interest $740
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $740
Interest from Other Investments $0
Total Dividends $100,117
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 $13,904
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 $-451,137
Other Income $0
Expenses $284,340
Total Benefit Payments $257,889
Directly to participants or beneficiaries, including direct rollovers $257,889
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 $26,451
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $26,451
Net Income $-355,795
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2018 12/31/2017 Change YOY
Total Assets $4,479,060 $1,323,834 238.34%
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 $32,958 $13,673 141.04%
Value of interest in common/collective trusts $395,148 $0 0.0%
Value of interest in pooled separate accounts $0 $937,131 -100.00%
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 $4,050,954 $0 0.0%
Value of funds held in insurance co. general account $0 $373,030 -100.00%
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 $4,479,060 $1,323,834 238.34%

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
The Vanguard Group, Inc. Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Trustee (directed), Participant loan processing, Product termination fees (surrender charges, etc.), Shareholder servicing fees, Sub-transfer agency fees, Float revenue, Distribution (12b-1) fees, Other insurance wrap fees Recordkeeper $18,990 $0 $18,990
Axa Equitable Life Insurance Co Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Trustee (directed), Participant loan processing, Product termination fees (surrender charges, etc.), Shareholder servicing fees, Sub-transfer agency fees, Float revenue, Distribution (12b-1) fees, Other insurance wrap fees Recordkeeper $8,841 $0 $8,841
Total $27,831 $0 $27,831

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
Axa Large Cap Value Managed Volatil Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Axa International Valu Managd Volat Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Axa Moderate Allocation Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Multimanager Aggressive Equity Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Eq / Common Stock Index Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Axa/Ab Small Cap Growth Portfolio Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Eq / International Equity Index Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Eq / Equity 500 Index Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Target 2015 Allocation Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Axa Global Equity Managed Volatilit Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Axa Mid Cap Value Managed Volatilit Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Eq / Blackrock Basic Value Equity Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Eq / Jpmorgan Value Opportunities Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
1290 Vt Socially Responsible Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Eq / Capital Guardian Research Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Axa Large Cap Core Managed Volatili Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Eq/Large Cap Growth Index Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Axa Large Cap Growth Managed Volati Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Axa/Clearbridge Large Cap Growth Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Target 2035 Allocation Axa Proprietary Funds/Chase DFE: Pooled Separate Account $0
Total $0

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Axa Equitable 0
EIN 13-5570651
Industry Code 62944
Contract Number 91664026
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
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 GUARANTEED INTEREST OPTION
Balance at the end of the previous year $373,030
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 $373,030
Deductions $373,030
Disbursed from fund to pay benefits or purchase annuities during the year $373,030
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $0