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SKYISTHELIMIT, INC. PROFIT SHARING PLAN 401k Plan overview

Plan NameSKYISTHELIMIT, INC. PROFIT SHARING PLAN
Plan identification number 001

SKYISTHELIMIT, INC. PROFIT SHARING PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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

SKYISTHELIMIT, INC. has sponsored the creation of one or more 401k plans.

Company Name:SKYISTHELIMIT, INC.
Employer identification number (EIN):465121607
NAIC Classification:713900

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SKYISTHELIMIT, INC. PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01
0012018-01-01
0012017-01-01CHAD PANNUNZIO
0012017-01-01
0012016-01-01CHAD PANNUNZIO
0012016-01-01
0012015-01-01CHAD PANNUNZIO
0012015-01-01
0012014-04-24CHAD PANNUNZIO
0012014-04-24

Plan Statistics for SKYISTHELIMIT, INC. PROFIT SHARING PLAN

401k plan membership statisitcs for SKYISTHELIMIT, INC. PROFIT SHARING PLAN

Measure Date Value
2021: SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-015
Total number of active participants reported on line 7a of the Form 55002021-01-010
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-010
Total of all active and inactive participants2021-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-010
Number of participants with account balances2021-01-010
2020: SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-015
Total number of active participants reported on line 7a of the Form 55002020-01-015
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-010
Total of all active and inactive participants2020-01-015
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-015
Number of participants with account balances2020-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-017
Total number of active participants reported on line 7a of the Form 55002019-01-016
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-010
Total of all active and inactive participants2019-01-016
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-016
Number of participants with account balances2019-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-017
Total number of active participants reported on line 7a of the Form 55002018-01-016
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-010
Total of all active and inactive participants2018-01-016
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-016
Number of participants with account balances2018-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-017
Total number of active participants reported on line 7a of the Form 55002017-01-017
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-010
Total of all active and inactive participants2017-01-017
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-017
Number of participants with account balances2017-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-010
2016: SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-017
Total number of active participants reported on line 7a of the Form 55002016-01-017
Total of all active and inactive participants2016-01-017
Total participants2016-01-017
Number of participants with account balances2016-01-012
2015: SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-012
Total number of active participants reported on line 7a of the Form 55002015-01-013
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-010
Total of all active and inactive participants2015-01-013
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-013
Number of participants with account balances2015-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010
2014: SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2014 401k membership
Total participants, beginning-of-year2014-04-242
Total number of active participants reported on line 7a of the Form 55002014-04-242
Number of retired or separated participants receiving benefits2014-04-240
Number of other retired or separated participants entitled to future benefits2014-04-240
Total of all active and inactive participants2014-04-242
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-04-240
Total participants2014-04-242
Number of participants with account balances2014-04-242
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-04-240

Financial Data on SKYISTHELIMIT, INC. PROFIT SHARING PLAN

Measure Date Value
2021 : SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2021 401k financial data
Total income from all sources2021-08-31$-118,802
Expenses. Total of all expenses incurred2021-08-31$30,281
Benefits paid (including direct rollovers)2021-08-31$30,281
Total plan assets at end of year2021-08-31$0
Total plan assets at beginning of year2021-08-31$149,083
Value of fidelity bond covering the plan2021-08-31$100,000
Other income received2021-08-31$-118,802
Net income (gross income less expenses)2021-08-31$-149,083
Net plan assets at end of year (total assets less liabilities)2021-08-31$0
Net plan assets at beginning of year (total assets less liabilities)2021-08-31$149,083
Assets. Value of employer securities2021-08-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-08-31$0
2020 : SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2020 401k financial data
Total income from all sources2020-12-31$-137,943
Expenses. Total of all expenses incurred2020-12-31$0
Total plan assets at end of year2020-12-31$149,083
Total plan assets at beginning of year2020-12-31$287,026
Value of fidelity bond covering the plan2020-12-31$100,000
Other income received2020-12-31$-137,943
Net income (gross income less expenses)2020-12-31$-137,943
Net plan assets at end of year (total assets less liabilities)2020-12-31$149,083
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$287,026
Assets. Value of employer securities2020-12-31$149,083
2019 : SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2019 401k financial data
Total income from all sources2019-12-31$1,160
Expenses. Total of all expenses incurred2019-12-31$0
Total plan assets at end of year2019-12-31$287,026
Total plan assets at beginning of year2019-12-31$285,866
Value of fidelity bond covering the plan2019-12-31$100,000
Other income received2019-12-31$1,160
Net income (gross income less expenses)2019-12-31$1,160
Net plan assets at end of year (total assets less liabilities)2019-12-31$287,026
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$285,866
Assets. Value of employer securities2019-12-31$287,026
2018 : SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2018 401k financial data
Total income from all sources2018-12-31$67,958
Expenses. Total of all expenses incurred2018-12-31$0
Benefits paid (including direct rollovers)2018-12-31$0
Total plan assets at end of year2018-12-31$1,274,459
Total plan assets at beginning of year2018-12-31$1,206,501
Value of fidelity bond covering the plan2018-12-31$100,000
Total contributions received or receivable from participants2018-12-31$0
Contributions received from other sources (not participants or employers)2018-12-31$0
Other income received2018-12-31$67,958
Net income (gross income less expenses)2018-12-31$67,958
Net plan assets at end of year (total assets less liabilities)2018-12-31$1,274,459
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$1,206,501
Assets. Value of employer securities2018-12-31$1,274,459
Total contributions received or receivable from employer(s)2018-12-31$0
Value of certain deemed distributions of participant loans2018-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$0
2017 : SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2017 401k financial data
Total income from all sources2017-12-31$200,701
Total plan assets at end of year2017-12-31$1,206,501
Total plan assets at beginning of year2017-12-31$1,005,800
Value of fidelity bond covering the plan2017-12-31$100,000
Other income received2017-12-31$200,701
Net income (gross income less expenses)2017-12-31$200,701
Net plan assets at end of year (total assets less liabilities)2017-12-31$1,206,501
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$1,005,800
Assets. Value of employer securities2017-12-31$1,206,501
2016 : SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2016 401k financial data
Total income from all sources2016-12-31$844,648
Total plan assets at end of year2016-12-31$1,005,800
Total plan assets at beginning of year2016-12-31$161,152
Other income received2016-12-31$844,648
Net income (gross income less expenses)2016-12-31$844,648
Net plan assets at end of year (total assets less liabilities)2016-12-31$1,005,800
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$161,152
Assets. Value of employer securities2016-12-31$1,005,800
2015 : SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2015 401k financial data
Total income from all sources2015-12-31$69,146
Expenses. Total of all expenses incurred2015-12-31$0
Benefits paid (including direct rollovers)2015-12-31$0
Total plan assets at end of year2015-12-31$161,152
Total plan assets at beginning of year2015-12-31$92,006
Total contributions received or receivable from participants2015-12-31$0
Contributions received from other sources (not participants or employers)2015-12-31$0
Other income received2015-12-31$69,146
Net income (gross income less expenses)2015-12-31$69,146
Net plan assets at end of year (total assets less liabilities)2015-12-31$161,152
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$92,006
Assets. Value of employer securities2015-12-31$161,152
Total contributions received or receivable from employer(s)2015-12-31$0
Value of certain deemed distributions of participant loans2015-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$0
2014 : SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2014 401k financial data
Total income from all sources2014-12-31$92,036
Expenses. Total of all expenses incurred2014-12-31$30
Benefits paid (including direct rollovers)2014-12-31$0
Total plan assets at end of year2014-12-31$92,006
Total contributions received or receivable from participants2014-12-31$0
Contributions received from other sources (not participants or employers)2014-12-31$105,809
Other income received2014-12-31$-13,773
Net income (gross income less expenses)2014-12-31$92,006
Net plan assets at end of year (total assets less liabilities)2014-12-31$92,006
Assets. Value of employer securities2014-12-31$92,006
Total contributions received or receivable from employer(s)2014-12-31$0
Value of certain deemed distributions of participant loans2014-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2014-12-31$30

Form 5500 Responses for SKYISTHELIMIT, INC. PROFIT SHARING PLAN

2021: SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingYes
2021-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedYes
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedYes
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Submission has been amendedYes
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedYes
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes
2014: SKYISTHELIMIT, INC. PROFIT SHARING PLAN 2014 form 5500 responses
2014-04-24Type of plan entitySingle employer plan
2014-04-24First time form 5500 has been submittedYes
2014-04-24Submission has been amendedYes
2014-04-24This return/report is a short plan year return/report (less than 12 months)Yes
2014-04-24Plan funding arrangement – TrustYes
2014-04-24Plan benefit arrangement - TrustYes

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