2023 Form 5500 filing — Magic City Motor Corporation Employees' Profit Sharing And Savings Plan
Plain-English filing summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20241015141535NAL0016594643001) for Magic City Motor Corporation Employees' Profit Sharing And Savings Plan, reported by Magic City Motor Corporation under EIN 54-0290231 and plan number 002. It reports 195 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
Form 5500 2 · 2023
Filing snapshot
Net assets (EOY)$9.9MReported net assets$9,858,996
Participants195
Provider compensation$10.9K4 Schedule C row(s)$10,902
Schedules filedSchedule H, Schedule CLoaded schedules
- EFAST2 acknowledgement
- 20241015141535NAL0016594643001
- Plan sponsor
- Magic City Motor Corporation
- EIN
- 54-0290231
- Plan number
- 002
- Location
- Roanoke, VA
- Received date
- not reported in the loaded dataset
Schedule H · 2023
Reported financial snapshot
Reported figures as filed, in whole dollars. Only fields the filing reports are shown.
Reported balance (end of year)$9.9M total assets
Net assets$9.9MLiabilities$0
Full reported line items
- Total assets (EOY)
- $9,858,996
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $9,858,996
- Employer contributions
- $0
- Participant contributions
- $517,714
- Total income / additions
- $2,122,416
- Benefits paid
- $1,810,047
- Administrative expenses
- $75,930
- Total expenses
- $1,913,397
- Net increase / (decrease)
- $209,019
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Penservco Inc | CONTRACT ADMIN | $1,940 | $4,281 |
| Empower Advisory Group, LLC | INVESTMENT MGMT | $2,561 | not reported in the loaded dataset |
| Empower Annuity Insurance Company | RECORDKEEPER | $1,110 | $0 |
| John Hancock Life Insurance Company | RECORDKEEPER | $1,010 | not reported in the loaded dataset |