Virginia › Manufacturing › 250 to 499 participants
Form 5500 statement · plan year 1 Dec 2024 to 30 Nov 2025
Vaughan-Bassett Furniture Co., Inc. Profit Sharing Plan
Sponsored by Vaughan-Bassett Furniture Co., Inc., Galax, VA
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.
Vaughan-Bassett Furniture Co., Inc. of Galax, Virginia sponsors Vaughan-Bassett Furniture Co., Inc. Profit Sharing Plan, a profit-sharing plan. Its Form 5500 for the plan year ending 30 Nov 2025 shows 392 participants (355 active) and $5.6M in net assets.
Net assets came to $14,230 per participant, well below the $48,719 median for defined contribution plans with 250 to 499 participants and well below the $62,283 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.
Schedule C lists 1 service provider organisation paid $5,000 or more, with reported compensation of $4,618: $11.78 per participant, well below the same-size median of $141. Administrative expenses charged to the plan were $4,618. 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 $5.4M in 2009 to $5.6M in 2024 (up 3%), and participants from 694 to 392 (down 44%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $14,230 | $48,719 | $62,283 | $53,089 |
| Employer contributions per active participant | — | $2,015 | $2,187 | $2,174 |
| Schedule C compensation per participant | $11.78 | $141 | $136 | $123 |
| Schedule C compensation, share of net assets | 0.08% | 0.30% | 0.24% | 0.26% |
| Administrative expenses per participant | $11.78 | $133 | $131 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 250 to 499 participants (17,492 plans), manufacturing (11,411) and all US plans (63,607). 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 | 392 | $5.6M | $14,230 | — | — | $5,000 |
| 2023 | 415 | $5.2M | $12,648 | — | — | $7,000 |
| 2022 | 468 | $5.1M | $10,861 | — | — | $9,000 |
| 2021 | 468 | $5.3M | $11,222 | $615K | — | $8,000 |
| 2020 | 493 | $5.3M | $10,811 | $772K | — | $19K |
| 2019 | 515 | $4.5M | $8,771 | $1,000 | — | $14K |
| 2018 | 515 | $6.2M | $12,000 | — | — | $14K |
| 2017 | 612 | $6.1M | $10,028 | — | — | $8,000 |
| 2016 | 656 | $6.8M | $10,367 | — | — | $10K |
| 2015 | 775 | $6.7M | $8,601 | $56K | — | $7,000 |
| 2014 | 646 | $7.0M | $10,782 | $138K | — | $8,000 |
| 2013 | 637 | $7.5M | $11,824 | $1.5M | — | $7,000 |
| 2012 | 683 | $6.2M | $9,060 | $2,000 | — | $7,000 |
| 2011 | 658 | $5.7M | $8,663 | $10K | — | $7,000 |
| 2010 | 681 | $5.5M | $8,019 | $227K | — | $16K |
| 2009 | 694 | $5.4M | $7,781 | $196K | — | $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$5,249,485
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$603,187
- Benefits paid$269,831
- Administrative expenses$4,618
- Total expenses$274,449
- Net income$328,738
- Net transfers$0
- Net assets, end of year$5,578,223
Participants
- Active participants355
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits37
- Participants with account balances375
- Total participants, end of year392
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Alerus Financial, N.A. | Recordkeeping and information management; Trustee (bank, trust company, or similar financial institution); Trustee (directed) | $4,618 | $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$4,618
- Total administrative expenses$4,618
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.
- Registered investment companies (mutual funds)$4.8M · 86.6%
- Common/collective trusts$746K · 13.4%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmSmith Leonard PLLC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $2,000,000
- 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
2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2TTotal or partial participant-directed account plan with a default investment account3DPre-approved pension plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 337000: Furniture & Related Product Manufacturing.
Similar plans in Virginia
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Granules Pharmaceuticals 401(k) Plan & Trust | Granules Pharmaceuticals, Inc. | 394 | $8.5M | $21,474 |
| Blacksky Holdings, Inc. | Blacksky Holdings, Inc. | 380 | $31.9M | $83,931 |
| Delta Star Employee Stock Ownership Plan | Delta Star, Inc. | 400 | $363M | $907,673 |
| Optical Cable Corporation Employees' 401(k) Plan | Optical Cable Corporation | 370 | $20.2M | $54,721 |
| Press Glass 401(k) Plan | Press Glass, Inc. | 402 | $4.2M | $10,553 |
| SC3 401(k) Retirement Savings Plan | General Dynamics Corporation | 369 | $27.5M | $74,502 |
Defined contribution plans in manufacturing closest in size.
Questions and answers
How big is Vaughan-Bassett Furniture Co., Inc. Profit Sharing Plan?
392 participants at the end of the plan year ending 30 Nov 2025, of whom 355 were active employees, with net assets of $5,578,223. Among defined contribution plans that places it in the 250 to 499 participants band, which held 17,492 plans in plan year 2024.
What does Vaughan-Bassett Furniture Co., 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 $4,618 in compensation to service provider organisations, $11.78 per participant or 0.08% of net assets. The same-size median among plans reporting any Schedule C compensation was $141 per participant. Administrative expenses on Schedule H were $4,618. 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 Vaughan-Bassett Furniture Co., Inc.. Recordkeeping or administration: Alerus Financial, N.A.. Trustee or custodian: Alerus Financial, N.A.. The financial statements were audited by Smith Leonard PLLC. 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 from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. 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 Dec 2024 to 30 Nov 2025, received by the Department of Labor on 14 Sep 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 Sep 2026. This page shows the latest filing on record for EIN 54-0415950, plan 001, received 14 Sep 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.