West Virginia › Other services › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Goodwill Industries of Kanawha Valley 401(k) Plan
Sponsored by Goodwill Industries of Kanawha Valley, Inc., Charleston, WV
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.
In the plan year ending 31 Dec 2024, Goodwill Industries of Kanawha Valley 401(k) Plan covered 625 participants and held $2.5M in net assets. The plan is a 401(k) plan sponsored by Goodwill Industries of Kanawha Valley, Inc. of Charleston, West Virginia.
Net assets came to $3,979 per participant, well below the $46,267 median for defined contribution plans with 500 to 999 participants and well below the $40,686 median for defined contribution plans in other services. 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 $170K during the year, or $362 per active participant against a same-size median of $1,934; participants contributed $260K and $74K arrived as rollovers and other contributions. Benefits paid out totalled $162K.
Schedule C lists 2 service provider organisations paid $5,000 or more, with reported compensation of $20K: $32.08 per participant, well below the same-size median of $113. Administrative expenses charged to the plan were $19K. 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 $81K in 2014 to $2.5M in 2024 (up 2970%), and participants from 274 to 625 (up 128%).
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 | $3,979 | $46,267 | $40,686 | $53,102 |
| Employer contributions per active participant | $362 | $1,934 | $2,024 | $2,175 |
| Schedule C compensation per participant | $32.08 | $113 | $113 | $123 |
| Schedule C compensation, share of net assets | 0.81% | 0.25% | 0.30% | 0.26% |
| Administrative expenses per participant | $30.42 | $109 | $99.73 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 500 to 999 participants (10,588 plans), other services (2,675) 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 | 625 | $2.5M | $3,979 | $170K | $260K | $20K |
| 2023 | 462 | $1.9M | $4,175 | $132K | $204K | $19K |
| 2022 | 388 | $1.5M | $3,977 | $102K | $178K | $12K |
| 2021 | 267 | $1.7M | $6,532 | $78K | $119K | $14K |
| 2020 | 266 | $1.3M | $4,763 | $69K | $107K | $4,000 |
| 2019 | 255 | $1.0M | $3,937 | $64K | $99K | $1,000 |
| 2018 | 233 | $727K | $3,120 | $67K | $112K | $2,000 |
| 2017 | 278 | $698K | $2,511 | $76K | $119K | $2,000 |
| 2016 | 283 | $447K | $1,580 | $74K | $119K | $1,000 |
| 2015 | 279 | $260K | $932 | $68K | $119K | $0 |
| 2014 | 274 | $81K | $296 | $34K | $47K | $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$1,929,346
- Employer contributions$169,695
- Participant contributions$259,810
- Rollovers and other contributions$73,807
- Total contributions$503,312
- Total income, including investment results$737,932
- Benefits paid$161,693
- Administrative expenses$19,015
- Total expenses$180,708
- Net income$557,224
- Net transfers$0
- Net assets, end of year$2,486,570
Participants
- Active participants469
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits156
- Participants with account balances362
- Total participants, end of year625
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Principal Life Insurance Company | Contract Administrator | $15,049 | $0 |
| Metro Benefits Inc. | Contract Administrator; Other services | $3,965 | $1,038 |
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
- Contract administrator fees$19,015
- Total administrative expenses$19,015
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.
- Common/collective trusts$2.3M · 93.8%
- Registered investment companies (mutual funds)$149K · 6.0%
- Receivables$4,730 · 0.2%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Participant contributions reported as transmitted lateYes, $212,312
- Covered by a fidelity bondYes, $250,000
- 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
2AAge/service weighted or new comparability or similar plan2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2JCode section 401(k) feature2KCode section 401(m) arrangement2S401(k) plan or 403(b) plan that provides for automatic enrollment2TTotal 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 813000: Religious, Grantmaking, Civic, Professional, & Similar Organizations (including condominium and homeowners associations).
Similar plans in West Virginia
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Mulberry's Independent Home Services, Inc. Employee Stock Ownership Plan | Mulberry's Independent Home Services, Inc. | 2,231 | $34.8M | $15,588 |
| Int Brotherhood of Electrical Workers Local 141 Profit Sharing Plan | Board of Trustees for the IBEW 141 Profit Sharing Plan | 565 | $126M | $223,592 |
| Nextgen 401(k) Plan | Nextgen Federal System, LLC | 399 | $18.0M | $45,132 |
| Shenandoah Valley Medical System Inc. Retirement Plan | Shenandoah Valley Medical System Inc. | 385 | $16.2M | $41,953 |
| Altmeyer Funeral Homes, Inc. 401(k) Plan | Altmeyer Funeral Homes Inc. | 309 | $12.0M | $38,809 |
| Mountainheart Community Services, Inc. Profit Sharing Plan | Mountainheart Community Services, Inc. | 270 | $11.3M | $41,994 |
Defined contribution plans in other services closest in size.
Questions and answers
How big is Goodwill Industries of Kanawha Valley 401(k) Plan?
625 participants at the end of the plan year ending 31 Dec 2024, of whom 469 were active employees, with net assets of $2,486,570. Among defined contribution plans that places it in the 500 to 999 participants band, which held 10,588 plans in plan year 2024.
What does Goodwill Industries of Kanawha Valley, Inc. contribute per participant?
The filing reports $169,695 in employer contributions for the year, which is $362 per active participant; the median for plans of the same type and size was $1,934 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 $20,052 in compensation to service provider organisations, $32.08 per participant or 0.81% of net assets. The same-size median among plans reporting any Schedule C compensation was $113 per participant. Administrative expenses on Schedule H were $19,015. 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 Goodwill Industries of Kanawha Valley, Inc.. Recordkeeping or administration: Principal Life Insurance Company and Metro Benefits Inc.. 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 15 Oct 2025. 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 55-0380828, plan 001, received 15 Oct 2025; 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.