Plan Snapshot
- Plan Sponsor: The Franklin School Of Innovation, INC.
- Sponsor EIN: 461548530
- Sponsor Address: 21 INNOVATION DRIVE, ASHEVILLE, NC, 28806
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 78
- Total Assets: $2.3M
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 | 78 | $2.3M | $125,718 | $218,497 |
| 2023 | 73 | $1.8M | $121,463 | $186,766 |
| 2022 | 74 | $1.3M | $109,878 | $165,256 |
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 |
|---|---|---|---|---|
| ASCENSUS LLC | Other Service Provider | $9,466 | — | $9,466 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $9,466
- Estimated Expense Ratio: 0.410% 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 | $9,466 | — | $9,466 | — | — |
| 2023 | $5,218 | — | $5,218 | — | — |
| 2022 | $5,136 | — | $5,136 | — | — |