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BUILD, INC. EMPLOYEES RETIREMENT PLAN 401k Plan overview

Plan NameBUILD, INC. EMPLOYEES RETIREMENT PLAN
Plan identification number 001

BUILD, INC. EMPLOYEES RETIREMENT PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

BROADER URBAN INVOLVEMENT AND LEADERSHIP DEVELOPMENT, INC. has sponsored the creation of one or more 401k plans.

Company Name:BROADER URBAN INVOLVEMENT AND LEADERSHIP DEVELOPMENT, INC.
Employer identification number (EIN):237022085
NAIC Classification:812990
NAIC Description:All Other Personal Services

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BUILD, INC. EMPLOYEES RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-07-01
0012021-07-01NANCY MONAHAN2023-01-13
0012020-07-01DENISE BENAGES2022-03-31
0012019-07-01DENISE BENAGES2021-01-07 DENISE BENAGES2021-01-07
0012019-07-01DENISE BENAGES2021-01-07 DENISE BENAGES2021-01-07
0012018-07-01DENISE BENAGES2020-01-27
0012017-07-01DIANE WEHLING2019-01-17 ADAM ALONSO2019-01-17
0012016-07-01DIANE WEHLING2018-04-13
0012015-07-01DIANE WEHLING2017-01-09
0012014-07-01DIANE WEHLING2016-01-21
0012013-07-01DIANE WEHLING2015-01-30 DIANE WEHLING2015-01-30
0012012-07-01DIANE WEHLING2015-08-06
0012011-07-01WANDA RODRIGUEZ2012-10-29
0012010-07-01LINDA WEAVER2011-12-29

Plan Statistics for BUILD, INC. EMPLOYEES RETIREMENT PLAN

401k plan membership statisitcs for BUILD, INC. EMPLOYEES RETIREMENT PLAN

Measure Date Value
2022: BUILD, INC. EMPLOYEES RETIREMENT PLAN 2022 401k membership
Total participants, beginning-of-year2022-07-01137
Total number of active participants reported on line 7a of the Form 55002022-07-01229
Number of retired or separated participants receiving benefits2022-07-010
Number of other retired or separated participants entitled to future benefits2022-07-0128
Total of all active and inactive participants2022-07-01257
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-07-010
Total participants2022-07-01257
Number of participants with account balances2022-07-0192
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-07-010

Financial Data on BUILD, INC. EMPLOYEES RETIREMENT PLAN

Measure Date Value
2023 : BUILD, INC. EMPLOYEES RETIREMENT PLAN 2023 401k financial data
Total unrealized appreciation/depreciation of assets2023-06-30$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-06-30$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-06-30$0
Total income from all sources (including contributions)2023-06-30$365,865
Total loss/gain on sale of assets2023-06-30$0
Total of all expenses incurred2023-06-30$106,604
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2023-06-30$94,761
Value of total corrective distributions2023-06-30$5,501
Total contributions o plan (from employers,participants, others, non cash contrinutions)2023-06-30$293,729
Value of total assets at end of year2023-06-30$798,303
Value of total assets at beginning of year2023-06-30$539,042
Total of administrative expenses incurred including professional, contract, advisory and management fees2023-06-30$6,342
Total interest from all sources2023-06-30$0
Total dividends received (eg from common stock, registered investment company shares)2023-06-30$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2023-06-30No
Was this plan covered by a fidelity bond2023-06-30Yes
Value of fidelity bond cover2023-06-30$100,000
If this is an individual account plan, was there a blackout period2023-06-30No
Were there any nonexempt tranactions with any party-in-interest2023-06-30No
Contributions received from participants2023-06-30$223,629
Participant contributions at end of year2023-06-30$848
Participant contributions at beginning of year2023-06-30$848
Income. Received or receivable in cash from other sources (including rollovers)2023-06-30$17,811
Other income not declared elsewhere2023-06-30$-2,644
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2023-06-30No
Value of net income/loss2023-06-30$259,261
Value of net assets at end of year (total assets less liabilities)2023-06-30$798,303
Value of net assets at beginning of year (total assets less liabilities)2023-06-30$539,042
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2023-06-30No
Were any loans by the plan or fixed income obligations due to the plan in default2023-06-30No
Were any leases to which the plan was party in default or uncollectible2023-06-30No
Value of interest in pooled separate accounts at end of year2023-06-30$768,923
Value of interest in pooled separate accounts at beginning of year2023-06-30$519,127
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2023-06-30$28,532
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2023-06-30$19,067
Net investment gain/loss from registered investment companies (e.g. mutual funds)2023-06-30$74,780
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2023-06-30No
Was there a failure to transmit to the plan any participant contributions2023-06-30No
Has the plan failed to provide any benefit when due under the plan2023-06-30No
Contributions received in cash from employer2023-06-30$52,289
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2023-06-30$94,761
Contract administrator fees2023-06-30$6,342
Did the plan have assets held for investment2023-06-30Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2023-06-30No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2023-06-30No
Opinion of an independent qualified public accountant for this plan2023-06-30Unqualified
Accountancy firm name2023-06-30KIMBERLIN COMPANY, PLLC
Accountancy firm EIN2023-06-30455497718

Form 5500 Responses for BUILD, INC. EMPLOYEES RETIREMENT PLAN

2022: BUILD, INC. EMPLOYEES RETIREMENT PLAN 2022 form 5500 responses
2022-07-01Type of plan entitySingle employer plan
2022-07-01Submission has been amendedNo
2022-07-01This submission is the final filingNo
2022-07-01This return/report is a short plan year return/report (less than 12 months)No
2022-07-01Plan is a collectively bargained planNo
2022-07-01Plan funding arrangement – InsuranceYes
2022-07-01Plan funding arrangement – TrustYes
2022-07-01Plan benefit arrangement – InsuranceYes
2022-07-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract number81G461
Policy instance 1
Insurance contract or identification number81G461
Number of Individuals Covered92
Insurance policy start date2022-07-01
Insurance policy end date2023-06-30
Total amount of commissions paid to insurance brokerUSD $3,029
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?No
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $3,029
Insurance broker organization code?3

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