MODERN HOLDINGS, INC. has sponsored the creation of one or more 401k plans.
Submission information for form 5500 for 401k plan MODERN PROFIT SHARING 401(K) PLAN
| Measure | Date | Value |
|---|
| 2023 : MODERN PROFIT SHARING 401(K) PLAN 2023 401k financial data |
|---|
| Total income from all sources (including contributions) | 2023-12-31 | $4,150,218 |
| Total of all expenses incurred | 2023-12-31 | $2,054,670 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2023-12-31 | $1,929,515 |
| Expenses. Certain deemed distributions of participant loans | 2023-12-31 | $18,629 |
| Value of total corrective distributions | 2023-12-31 | $328 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2023-12-31 | $1,519,091 |
| Value of total assets at end of year | 2023-12-31 | $14,573,178 |
| Value of total assets at beginning of year | 2023-12-31 | $12,477,630 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2023-12-31 | $106,198 |
| Total interest from all sources | 2023-12-31 | $5,173 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2023-12-31 | No |
| Was this plan covered by a fidelity bond | 2023-12-31 | Yes |
| Value of fidelity bond cover | 2023-12-31 | $500,000 |
| If this is an individual account plan, was there a blackout period | 2023-12-31 | No |
| Were there any nonexempt tranactions with any party-in-interest | 2023-12-31 | No |
| Contributions received from participants | 2023-12-31 | $707,796 |
| Participant contributions at end of year | 2023-12-31 | $112,436 |
| Participant contributions at beginning of year | 2023-12-31 | $50,410 |
| Participant contributions at end of year | 2023-12-31 | $3,663 |
| Income. Received or receivable in cash from other sources (including rollovers) | 2023-12-31 | $433,684 |
| Total non interest bearing cash at end of year | 2023-12-31 | $16,070 |
| Total non interest bearing cash at beginning of year | 2023-12-31 | $13,658 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2023-12-31 | No |
| Income. Non cash contributions | 2023-12-31 | $0 |
| Value of net income/loss | 2023-12-31 | $2,095,548 |
| Value of net assets at end of year (total assets less liabilities) | 2023-12-31 | $14,573,178 |
| Value of net assets at beginning of year (total assets less liabilities) | 2023-12-31 | $12,477,630 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2023-12-31 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2023-12-31 | No |
| Were any leases to which the plan was party in default or uncollectible | 2023-12-31 | No |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2023-12-31 | $14,370,541 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2023-12-31 | $12,354,301 |
| Interest on participant loans | 2023-12-31 | $5,173 |
| Value of interest in common/collective trusts at end of year | 2023-12-31 | $69,727 |
| Value of interest in common/collective trusts at beginning of year | 2023-12-31 | $56,264 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2023-12-31 | $2,624,339 |
| Net investment gain or loss from common/collective trusts | 2023-12-31 | $1,615 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2023-12-31 | No |
| Was there a failure to transmit to the plan any participant contributions | 2023-12-31 | No |
| Has the plan failed to provide any benefit when due under the plan | 2023-12-31 | No |
| Contributions received in cash from employer | 2023-12-31 | $377,611 |
| Employer contributions (assets) at end of year | 2023-12-31 | $741 |
| Employer contributions (assets) at beginning of year | 2023-12-31 | $2,997 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2023-12-31 | $1,929,515 |
| Did the plan have assets held for investment | 2023-12-31 | Yes |
| Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2023-12-31 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2023-12-31 | No |
| Opinion of an independent qualified public accountant for this plan | 2023-12-31 | Unqualified |
| Accountancy firm name | 2023-12-31 | OLSEN THEILEN & CO. LTD |
| Accountancy firm EIN | 2023-12-31 | 411360831 |
