Plan Ledger DOL Form 5500 · updated monthly

Free Library of Philadelphia Foundation403(b)

THE FREE LIBRARY OF PHILADELPHIA FOUNDATION 403(B) RETIREMENT PLAN · PHILADELPHIA, PA · plan year 2024

Employer contribution per participant · 2024
$1,674

Free Library of Philadelphia Foundation's 2024 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 $8,380,839 across 160 participant accounts, with employer contributions averaging $1,674 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $1M–$10M size bracket, benchmarked here against 18,840 comparable plans and shown alongside other other services employers. By assets it is among the smaller plans on file in Pennsylvania (2,477th of 3,651), and 1,820th of 3,341 in other services. In 2024, employees put in $2.07 for every $1.00 the employer contributed; active participation has shrunk from 86 to 57 since 2022.

Plan summary
Net assets, end of year$8,380,839
Participants with balances160
Active participants57
Employer contributions$95,446
Employee contributions$197,425
Employer contribution per active participant$1,674
Average account balance$52,380
Benefits paid to participants$575,306
Plan auditUnmodified (clean) audit opinion
AuditorWIPFLI LLP
Plan history3
Yearassets · accounts · employer contribution
2024$8.4M · 160 accts · $95K emplr
2023$7.5M · 163 accts · $140K emplr
2022$6.1M · 160 accts · $159K emplr
Employer contributions to the Free Library of Philadelphia Foundation plan · 2024
Employer contribution per active participant$1,674
Median for plans this size$1,313
2024$1,674 per active participant
2023$2,125 per active participant
2022$1,849 per active participant

Free Library of Philadelphia Foundation's 2024 employer contribution ran above the $1,313 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
2022Not separately reported
Similar plansOther Services · Pennsylvania
Pennsylvania Farm Bureau PA$8.9M · 0.51%
Traditions of America LP PA$8.5M · 0.94%
Indian Creek Foundation PA$8.5M · 0.61%
Kuljian Corporation PA$8.3M · 0.51%
Infaith PA$8.1M · 0.01%
Urban Affairs Coalition PA$8.0M · 1.04%

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Source: U.S. Department of Labor, Form 5500 series, EIN 521173474 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.