New York › Wholesale trade › 100 to 249 participants
Form 5500 statement · plan year 1 Sep 2024 to 31 Aug 2025
Davies Office Refurbishing, Inc. Employee Stock Ownership Plan
Sponsored by Davies Office Refurbishing, Inc., Albany, NY
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
Davies Office Refurbishing, Inc. Employee Stock Ownership Plan is an employee stock ownership plan sponsored by Davies Office Refurbishing, Inc. of Albany, New York. For the plan year ending 31 Aug 2025 it reported 138 participants, 103 of them active, and net assets of $8.6M.
Net assets came to $62,545 per participant, close to the $60,185 median for defined contribution plans with 100 to 249 participants and close to the $65,557 median for defined contribution plans in wholesale trade. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The filing reports no service provider compensation on Schedule C. That is common where fees are paid by the employer or taken from investment returns, neither of which appears there. Administrative expenses charged to the plan were $0.
Across the filings on record, net assets went from $4.4M in 2009 to $8.6M in 2024 (up 97%), and participants from 190 to 138 (down 27%).
The independent accountant's opinion on the financial statements was qualified.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $62,545 | $60,185 | $65,557 | $53,102 |
| Employer contributions per active participant | — | $2,447 | $2,107 | $2,175 |
| Schedule C compensation per participant | — | $194 | $153 | $123 |
| Schedule C compensation, share of net assets | — | 0.32% | 0.27% | 0.26% |
| Administrative expenses per participant | — | $176 | $147 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 100 to 249 participants (21,996 plans), wholesale trade (3,526) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 138 | $8.6M | $62,543 | — | — | $0 |
| 2023 | 133 | $8.2M | $61,835 | — | — | $0 |
| 2022 | 141 | $10.2M | $72,220 | — | — | $0 |
| 2021 | 155 | $9.2M | $59,039 | $89K | — | $0 |
| 2020 | 162 | $10.1M | $62,117 | $451K | — | $0 |
| 2019 | 171 | $8.5M | $49,509 | $451K | — | $0 |
| 2017 | 135 | $8.8M | $65,052 | $651K | $0 | $0 |
| 2016 | 177 | $8.7M | $49,011 | $451K | — | $0 |
| 2015 | 175 | $5.4M | $30,834 | $651K | — | $0 |
| 2014 | 173 | $3.7M | $21,671 | $451K | — | $0 |
| 2013 | 166 | $3.1M | $18,440 | $451K | — | $0 |
| 2012 | 163 | $3.5M | $21,497 | $1.2M | — | $0 |
| 2011 | 192 | $4.0M | $20,589 | $2,000 | — | $0 |
| 2010 | 191 | $4.1M | $21,387 | — | — | $0 |
| 2009 | 190 | $4.4M | $23,037 | $17K | — | $0 |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$8,224,055
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$1,081,744
- Benefits paid$674,658
- Administrative expenses$0
- Total expenses$674,658
- Net income$407,086
- Net transfers$0
- Net assets, end of year$8,631,141
Participants
- Active participants103
- Retired or separated, receiving benefits19
- Retired or separated, entitled to future benefits14
- Participants with account balances135
- Total participants, end of year138
Fees and service providers
No service provider organisations are listed on Schedule C for this plan year.
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Employer securities$8.6M · 100.0%
Audit and compliance answers, as filed
- Accountant's opinionQualified
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmMaikel & Trainor, CPAS
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2IStock bonus2OESOP other than a leveraged ESOP3IPlan requiring that all or part of employer contributions be invested and held in employer securities
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 423200: Furniture & Home Furnishings.
Other plans of Davies Office Refurbishing, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Davies Office Refurbishing, Inc. 401(k) Profit Sharing Plan | 222 | $3.7M |
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| New Sensor Corporation 401(k) Plan | New Sensor Corporation | 142 | — | — |
| MCS Group Retirement Savings Plan | Military Car Sales, Inc. | 138 | $23.9M | $173,285 |
| Jacmel Jewelry, Inc. Savings & Retirement Plan | Jacmel Jewelry, Inc. | 143 | $15.0M | $104,636 |
| Thruway Fasteners, Inc. Employees Savings Plan | Thruway Fasteners, Inc. | 136 | $9.5M | $69,488 |
| S.D.C. Designs Inc. 401(k) Plan | S.D.C. Designs Inc. | 143 | — | — |
| Boening Bros. 401(k) Plan | Trustees of Boening Bros 401(k) Plan | 136 | $13.7M | $100,894 |
Defined contribution plans in wholesale trade closest in size.
Questions and answers
How big is Davies Office Refurbishing, Inc. Employee Stock Ownership Plan?
138 participants at the end of the plan year ending 31 Aug 2025, of whom 103 were active employees, with net assets of $8,631,141. Among defined contribution plans that places it in the 100 to 249 participants band, which held 21,996 plans in plan year 2024.
What does Davies Office Refurbishing, Inc. contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports no provider compensation for the year. Administrative expenses on Schedule H were $0. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Davies Office Refurbishing, Inc.. The financial statements were audited by Maikel & Trainor, CPAS. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an qualified opinion. The accountant's report attached to the filing at EFAST2 explains the basis for the opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Sep 2024 to 31 Aug 2025, received by the Department of Labor on 29 May 2026. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 14-1566162, plan 002, received 29 May 2026; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.