California › Manufacturing › 250 to 499 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Financial Statement Services, Inc. Employee Stock Ownership Plan and Trust
Sponsored by Financial Statement Services, Inc., Santa Ana, CA
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.
Financial Statement Services, Inc. of Santa Ana, California sponsors Financial Statement Services, Inc. Employee Stock Ownership Plan and Trust, an employee stock ownership plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 253 participants (227 active) and $17.3M in net assets.
Net assets came to $68,237 per participant, well above the $48,746 median for defined contribution plans with 250 to 499 participants and above the $62,303 median for defined contribution plans in manufacturing. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $4.1M during the year, or $18,069 per active participant against a same-size median of $2,017; participants contributed —. Benefits paid out totalled $0.
Schedule C lists 6 service provider organisations paid $5,000 or more, with reported compensation of $111K: $437 per participant, well above the same-size median of $141. Administrative expenses charged to the plan were $111K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from −$5.6M in 2021 to $17.3M in 2024 (), and participants from 206 to 253 (up 23%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $68,237 | $48,746 | $62,303 | $53,102 |
| Employer contributions per active participant | $18,069 | $2,017 | $2,187 | $2,175 |
| Schedule C compensation per participant | $437 | $141 | $136 | $123 |
| Schedule C compensation, share of net assets | 0.64% | 0.30% | 0.24% | 0.26% |
| Administrative expenses per participant | $437 | $133 | $131 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 250 to 499 participants (17,456 plans), manufacturing (11,377) 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 | 253 | $17.3M | $68,237 | $4.1M | — | $111K |
| 2023 | 225 | $9.4M | $41,667 | $3.4M | — | $0 |
| 2022 | 219 | $1.1M | $4,804 | $3.5M | — | $0 |
| 2021 | 206 | −$5.6M | −$27,180 | $2.8M | — | $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$9,375,279
- Employer contributions$4,101,692
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$4,101,692
- Total income, including investment results$8,152,700
- Benefits paid$0
- Administrative expenses$110,672
- Total expenses$264,010
- Net income$7,888,690
- Net transfers$0
- Net assets, end of year$17,263,969
Participants
- Active participants227
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits25
- Participants with account balances235
- Total participants, end of year253
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Blue Ridge Associates | Plan Administrator | $41,464 | $0 |
| Summit Fiduciary Group, LLC | Trustee (bank, trust company, or similar financial institution) | $22,000 | $0 |
| Acuity Advisors | Consulting (general) | $18,375 | $0 |
| Ambrose ESOP Advisors | Consulting (general) | $13,851 | $0 |
| Wright Ford Young & Co. | Accounting (including auditing) | $13,500 | $0 |
| Gilligan Benefits Law | Legal | $1,482 | $0 |
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.
Administrative expenses on Schedule H
- Recordkeeping fees$55,315
- Trustee and custodial fees$22,000
- Valuation and appraisal fees$18,375
- Investment advisory and management fees$13,500
- Legal fees$1,482
- Total administrative expenses$110,672
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$17.7M · 81.1%
- Receivables$3.9M · 18.0%
- Cash (interest and non-interest bearing)$195K · 0.9%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmWright Ford Young & Co.
- 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 bonus2PLeveraged 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 323100: Printing & Related Support Activities.
Other plans of Financial Statement Services, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Financial Statement Services, Inc. Retirement Savings Plan | 248 | $18.1M |
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Poly-Tainer Inc. 401(k) Plan | Poly-Tainer Inc. | 254 | $9.3M | $36,680 |
| Doughtronics, Inc. 401(k) Profit Sharing Plan | Doughtronics, Inc. | 253 | $21.7M | $85,616 |
| Reuland Electric 401(k) Plan | Reuland Electric Company | 255 | $5.9M | $23,136 |
| Neuropace, Inc. 401(k) Plan | Neuropace, Inc. | 253 | $39.7M | $156,872 |
| Sonendo, Inc. 401(k) Plan | Sonendo, Inc. | 256 | $12.4M | $48,448 |
| School Apparel Employees' 401(k) Savings Plan | School Apparel, Inc. | 252 | $7.1M | $28,285 |
Defined contribution plans in manufacturing closest in size.
Questions and answers
How big is Financial Statement Services, Inc. Employee Stock Ownership Plan and Trust?
253 participants at the end of the plan year ending 31 Dec 2024, of whom 227 were active employees, with net assets of $17,263,969. Among defined contribution plans that places it in the 250 to 499 participants band, which held 17,456 plans in plan year 2024.
What does Financial Statement Services, Inc. contribute per participant?
The filing reports $4,101,692 in employer contributions for the year, which is $18,069 per active participant; the median for plans of the same type and size was $2,017 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $110,672 in compensation to service provider organisations, $437 per participant or 0.64% of net assets. The same-size median among plans reporting any Schedule C compensation was $141 per participant. Administrative expenses on Schedule H were $110,672. 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 Financial Statement Services, Inc.. Recordkeeping or administration: Blue Ridge Associates. Trustee or custodian: Summit Fiduciary Group, LLC. The financial statements were audited by Wright Ford Young & Co.. 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 unmodified (unqualified) opinion. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 5 Mar 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 33-0032400, plan 002, received 5 Mar 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.