Microfinancial, Incorporated 401(K) Profit Sharing Plan — Form 5500 plan (Microfinancial, Incorporated)

Plain-English plan 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, Microfinancial, Incorporated 401(K) Profit Sharing Plan is a benefit plan reported by Microfinancial, Incorporated under EIN 04-2962824 and plan number 001. The latest loaded filing year is 2023. The filing reports 653 participants and $12,773,981 in end-of-year plan assets, where available in the loaded dataset.

Key reported metrics

Plan sponsor
Microfinancial, Incorporated
EIN
04-2962824
Plan number
001
Plan type
2
Location
Burlington, MA
Latest filing year
2023
Participants
653
End-of-year plan assets
$12,773,981

Form 5500 filing history

Filings loaded for this plan
Filing yearParticipantsSchedulesFiling
2023653H, C20241002090731NAL0003911699001

Reported financial statement (2023 · Schedule H)

Net assets

Total assets (EOY)
$12,773,981
Total liabilities (EOY)
$0
Net assets (EOY)
$12,773,981
Net assets (BOY)
$10,245,481

Income & contributions

Employer contributions
$307,918
Participant contributions
$1,218,109
Total contributions
$1,619,762
Total income / additions
$3,193,345

Expenses & distributions

Benefits paid
$1,381,272
Administrative expenses
$53,673
Total expenses
$1,434,945
Net increase / (decrease)
$1,758,400

Service provider compensation (Schedule C)

Reported service provider compensation
ProviderServiceDirect comp.Indirect comp.Year
Betterment For Business, LLCRECORDKEEPER$53,673not reported in the loaded dataset2023

Related Form 5500 pages