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FORM 5500 DATA

City Mill Company, Limited Profit Sharing 401k Plan

Overview

Plan Information

  • Plan Year01/01/2007 — 12/31/2007
  • Date of Plan01/01/1956
  • Net Assets as of 12/31/2007 $5,588,907
  • 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 12/31/2007

  • Active (Eligible) Participants322
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits50
  • Subtotal372
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total372
  • Total number of participants as of 01/01/2007341
  • Number of participants with account balances372
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested34
  • Number of participants required to be reported on Schedule SSA0

Expenses

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

Sponsor Information

  • Address660 N Nimitz Hwy
  • CityHonolulu
  • StateHI
  • Zip96817-5032
  • Telephone(808) 533-3811
  • EIN99-0036090
  • Industry Code444110
  • Named AdministratorElise Burkart
  • Named Plan SponsorElise Burkart

Plan Administrator Information

  • Administrator NameProfit Sharing Administrative Committee
  • Address660 N Nimitz Hwy
  • CityHonolulu
  • StateHI
  • Zip96817-5032
  • Telephone(808) 533-3811
  • Administrator EIN99-0170045

Plan Preparer Information

  • Preparer NameAon Consulting
  • AddressP.O. Box 201
  • City Honolulu
  • StateHI
  • Zip96810
  • Telephone(808) 533-4900
  • Preparer EIN22-2232264

Audit Information

  • Audit StatusAudited
  • AuditorWikoff Combs & Co., LLC
  • Auditor EIN65-1203311
  • 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.

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

Financials

Income and Expense Statement

Income $710,995
Contributions $225,000
Cash Contributions $225,000
Cash from Employers $225,000
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $481,107
Total Interest $171,665
Interest-Bearing Cash $0
U.S. Government Securities $29,189
Corporate Debt Instruments $17,389
Loans (other than to participants) $0
Participant Loans $1,620
Interest from Other Investments $123,467
Total Dividends $219,954
Preferred Stock $0
Common Stock $219,954
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 $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 $89,488
Other Income $4,888
Expenses $870,295
Total Benefit Payments $818,528
Directly to participants or beneficiaries, including direct rollovers $818,528
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 $51,767
Professional Fees $8,661
Contract Administrator Fees $0
Investment Advisory and management fees $21,989
Other Administrative Fees $21,117
Net Income $-159,300
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2007 12/31/2006 Change YOY
Total Assets $5,591,460 $5,751,796 -2.79%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $249,545 $272,980 -8.58%
Employer Contributions $225,000 $250,000 -10.00%
Participant Contributions $0 $0 0.0%
Other Contributions $24,545 $22,980 6.81%
General Investments $1,922,355 $1,525,284 26.03%
Interest-bearing cash $343,483 $270,033 27.20%
U.S. Government Securities $1,578,872 $1,255,251 25.78%
Corporate Debt Instruments $405,795 $751,242 -45.98%
Preferred $0 $0 0.0%
All Other $405,795 $751,242 -45.98%
Corporate Stocks $1,858,426 $2,589,566 -28.23%
Preferred $0 $0 0.0%
Common $1,858,426 $2,589,566 -28.23%
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 $32,315 $48,071 -32.78%
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 $1,042,359 $564,653 84.60%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $80,665 $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 $2,553 $3,589 -28.87%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $2,553 $3,589 -28.87%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $5,588,907 $5,748,207 -2.77%

Service Providers

Service Providers

Name Nature of Service Relationship to Plan Sponsor Gross Salary or Allowances Paid by Plan Fees and Commissions Paid by Plan Total Salary/Fees
Mellon Trust of California Investment Management $0 $21,989 $21,989
Bank of Hawaii Trustee (Corporate) $0 $21,077 $21,077
Wikoff Combs & Co., LLC Accounting $0 $7,038 $7,038
N/A Contract Administrator $0 $0 $0
Total $0 $50,104 $50,104

Investments

Investments

No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.