2023 Form 5500 filing — Drake Enterprises, Ltd 401(K) 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 20241226120151NAL0006577875001) for Drake Enterprises, Ltd 401(K) Plan, reported by Drake Enterprises, Ltd under EIN 56-1494243 and plan number 001. It reports 215 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)$9.5MReported net assets$9,509,476

Participants215

Provider compensation$53K4 Schedule C row(s)$53,021

Schedules filedSchedule H, Schedule CLoaded schedules

EFAST2 acknowledgement: 20241226120151NAL0006577875001
Plan sponsor: Drake Enterprises, Ltd
EIN: 56-1494243
Plan number: 001
Location: Franklin, NC
Received date: not reported in the loaded dataset

How to read this filing

This is a single annual Form 5500 filing, identified by its EFAST2 acknowledgement id.
Schedule chips (Sch H / I / C) show which schedules this filing includes.
Net assets = total assets minus total liabilities (Schedule H/I).
Fields a filing did not report are labeled not reported in the loaded dataset — never estimated.
For the plan's full history, open the plan profile.

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)$9.5M total assets

Net assets$9.5MLiabilities$0

Money in vs. money out

Total income / additions$1.7M

Total expenses$1.2M

Benefits paid / distributions$1.2M

Contributions

Employer$220K

Participant$408.1K

Full reported line items

Total assets (EOY): $9,509,476
Total liabilities (EOY): $0
Net assets (EOY): $9,509,476
Employer contributions: $219,967
Participant contributions: $408,062
Total income / additions: $1,745,603
Benefits paid: $1,188,421
Administrative expenses: $44,217
Total expenses: $1,232,638
Net increase / (decrease): $512,965

Schedule C

Reported service provider compensation

Compensation reported on the 2023 filing, ranked by reported total.

1
Principal Life Insurance Company$44.2K
CONTRACT ADMINISTRATOR · Direct $44.2K · Indirect $0
2
Sowell Management Services$5.7K
INVESTMENT ADVISORY · Direct $0 · Indirect $5.7K
3
Principal Securities Inc$3.1K
OTHER SERVICES · Direct $0 · Indirect $3.1K
4
Wilshire Advisors LLC$0
INVESTMENT ADVISORY · Direct $0 · Indirect $0

What to inspect next

Frequently asked questions

What does EFAST2 acknowledgement 20241226120151NAL0006577875001 cover?: It is the 2023 Form 5500 filing for Drake Enterprises, Ltd 401(K) Plan, reported by Drake Enterprises, Ltd (EIN 56-1494243).
Which Form 5500 schedules are attached to this 2023 filing?: Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).