Plan Ledger DOL Form 5500 · updated monthly

Arendell Parrott Academy, Inc.403(b)

ARENDELL PARROTT ACADEMY, INC. RETIREMENT PLAN · KINSTON, NC · plan year 2023

Employer contribution per participant · 2023
$1,609

Arendell Parrott Academy, Inc.'s 2023 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $12,323,593 across 181 participant accounts, with employer contributions averaging $1,609 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $10M–$50M size bracket, benchmarked here against 26,779 comparable plans and shown alongside other educational services employers. By assets it is the 995th-largest of 2,005 plans among North Carolina employers on file, and 1,954th of 3,091 in educational services. In 2023, employees put in $1.15 for every $1.00 the employer contributed.

Plan summary
Net assets, end of year$12,323,593
Participants with balances181
Active participants110
Employer contributions$177,017
Employee contributions$202,953
Employer contribution per active participant$1,609
Average account balance$68,086
Benefits paid to participants$512,906
Plan auditUnmodified (clean) audit opinion
AuditorBARROW, PARRIS & DAVENPORT , PA
Plan history3
Yearassets · accounts · employer contribution
2024$0 · $79K emplr
2023$12.3M · 181 accts · $177K emplr
2022$10.6M · 179 accts · $177K emplr
Employer contributions to the Arendell Parrott Academy, Inc. plan · 2023
Employer contribution per active participant$1,609
Median for plans this size$2,440
2023$1,609 per active participant
2022$1,668 per active participant

Arendell Parrott Academy, Inc.'s 2023 employer contribution ran below the $2,440 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Administrative cost history3
2024Not separately reported
2023Not separately reported
2022$25 · 0.00%
Similar plansEducational Services · North Carolina
Lees-McRae College, Inc. NC$15.6M · 0.00%
Louisburg College NC$15.2M · 0.09%
Shaw University NC$14.0M · 0.00%
The Franklin Academy, Inc. NC$13.5M · 0.01%
The Roger Bacon Academy NC$11.2M · 0.64%
Duke School NC$11.1M · 0.33%

Why are you looking at this plan?

Compare

Source: U.S. Department of Labor, Form 5500 series, EIN 566065129 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.