Plan Snapshot
- Plan Sponsor: Hope Academy, INC.
- Sponsor EIN: 411962874
- Sponsor Address: 710 E 24TH ST, MINNEAPOLIS, MN, 55404
- Plan Type: 401(k)
- Total Participants: 127
- Total Assets: $2.6M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 127 | $2.6M | $239,515 | $563,988 |
| 2023 | 133 | $1.6M | $197,390 | $423,445 |
| 2022 | 119 | $957,970 | $258,690 | $296,329 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| HD VEST | INVESTMENT/FINANCIAL ADVI | $5,040 | — | $5,040 |
| BOYUM AND BARENSCHEER , LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- HD VEST — INVESTMENT/FINANCIAL ADVI
- BOYUM AND BARENSCHEER , LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $5,040
- Estimated Expense Ratio: 0.197% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $8,114 | $5,040 | — | — | — |
| 2023 | — | — | — | — | — |
| 2022 | — | — | — | — | — |