North Carolina › Arts, entertainment and recreation › 100 to 249 participants
Form 5500 statement · plan year 1 Jul 2022 to 30 Jun 2023
Mint Museum of Art 403(b) DC Plan
Sponsored by Mint Museum of Art, Inc., Charlotte, NC
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 30 Jun 2023, Mint Museum of Art 403(b) DC Plan covered 220 participants and held $5.2M in net assets. The plan is a 403(b) plan sponsored by Mint Museum of Art, Inc. of Charlotte, North Carolina.
Net assets came to $27,094 per participant in plan year 2024, well below the $60,185 median for defined contribution plans with 100 to 249 participants and well below the $37,341 median for defined contribution plans in arts, entertainment and recreation. 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 $114K during the year, or $1,282 per active participant against a same-size median of $2,447; participants contributed $221K and $17K arrived as rollovers and other contributions. Benefits paid out totalled $123K.
Schedule C lists 1 service provider organisation paid $5,000 or more, with reported compensation of $9,203: $41.83 per participant, well below the same-size median of $194. Administrative expenses charged to the plan were $9,414. 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 $3.4M in 2011 to $5.2M in 2025 (up 51%), and participants from 139 to 220 (up 58%).
The independent accountant's opinion on the financial statements was disclaimer, 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, plan year 2024 | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $27,094 | $60,185 | $37,341 | $53,102 |
| Employer contributions per active participant | $1,134 | $2,447 | $1,567 | $2,175 |
| Schedule C compensation per participant | $57.77 | $194 | $89.78 | $123 |
| Schedule C compensation, share of net assets | 0.21% | 0.32% | 0.27% | 0.26% |
| Administrative expenses per participant | $61.82 | $176 | $83.28 | $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), arts, entertainment and recreation (1,025) 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 |
|---|---|---|---|---|---|---|
| 2025 | 220 | $5.2M | $23,505 | $114K | $221K | $9,000 |
| 2024 | 219 | $5.9M | $27,096 | $147K | $243K | $13K |
| 2023 | 233 | $5.8M | $24,863 | $150K | $237K | $13K |
| 2021 | 205 | $4.5M | $21,932 | $111K | $180K | $8,000 |
| 2020 | 181 | $5.0M | $27,354 | $115K | $152K | $7,000 |
| 2019 | 177 | $4.1M | $23,045 | $105K | $143K | $4,000 |
| 2017 | 165 | $4.1M | $24,642 | $55K | $101K | $1,000 |
| 2016 | 163 | $3.8M | $23,135 | $56K | $124K | $0 |
| 2015 | 157 | $3.4M | $21,567 | $48K | $100K | $0 |
| 2014 | 172 | $3.3M | $19,267 | — | $102K | $0 |
| 2013 | 156 | $3.6M | $22,795 | $4,000 | $104K | $0 |
| 2012 | 158 | $3.7M | $23,500 | $94K | $116K | $0 |
| 2011 | 139 | $3.4M | $24,647 | $86K | $151K | $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$4,496,437
- Employer contributions$114,102
- Participant contributions$220,566
- Rollovers and other contributions$16,549
- Total contributions$351,217
- Total income, including investment results$807,151
- Benefits paid$122,765
- Administrative expenses$9,414
- Total expenses$132,179
- Net income$674,972
- Net transfers$0
- Net assets, end of year$5,171,409
Participants
- Active participants89
- Retired or separated, receiving benefits7
- Retired or separated, entitled to future benefits123
- Participants with account balances202
- Total participants, end of year220
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| TIAA | Contract Administrator; Recordkeeping and information management | $9,203 | $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
- Contract administrator fees$9,414
- Total administrative expenses$9,414
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.
- Pooled separate accounts$2.4M · 46.8%
- Registered investment companies (mutual funds)$1.7M · 33.8%
- Insurance company general account$1.0M · 19.5%
Audit and compliance answers, as filed
- Accountant's opinionDisclaimer
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmMcCannon, Rogers, Driscoll & Assoc
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $500,000
- 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 plan2LCode section 403(b)(1) arrangement (annuity contracts)3DPre-approved pension plan2TTotal or partial participant-directed account plan with a default investment account
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 712100: Museums, Historical Sites, & Similar Institutions.
Similar plans in North Carolina
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Prestonwood Country Club, Inc. 401(k) Plan | Prestonwood Country Club, Inc. | 230 | — | — |
| Discovery Place, Inc. Retirement Savings Plan | Discovery Place, Inc. | 213 | $5.9M | $27,800 |
| Ajt Holding 401(k) | Ajt Holding LLC | 240 | $605K | $2,523 |
| The Country Club of North Carolina 401(k) Retirement and Savings Plan | The Country Club of North Carolina | 198 | $5.4M | $27,237 |
| North Carolina Performing Arts Center at Charlotte Foundation 403(b) Plan | North Carolina Performing Arts Center at Charlotte Foundation | 243 | $9.3M | $38,148 |
| North Ridge Country Club 401(k) Employee Savings and Retirement Plan | North Ridge Country Club, Inc. | 187 | $5.4M | $28,922 |
Defined contribution plans in arts, entertainment and recreation closest in size.
Questions and answers
How big is Mint Museum of Art 403(b) DC Plan?
220 participants at the end of the plan year ending 30 Jun 2023, of whom 89 were active employees, with net assets of $5,171,409. 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 Mint Museum of Art, Inc. contribute per participant?
The filing reports $114,102 in employer contributions for the year, which is $1,282 per active participant; the median for plans of the same type and size was $2,447 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 $9,203 in compensation to service provider organisations, $41.83 per participant or 0.18% of net assets. The same-size median among plans reporting any Schedule C compensation was $194 per participant. Administrative expenses on Schedule H were $9,414. 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 Mint Museum of Art, Inc.. Recordkeeping or administration: TIAA. The financial statements were audited by McCannon, Rogers, Driscoll & Assoc. 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 disclaimer opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. A disclaimer of opinion was the usual result of a limited-scope audit under the rules in force before 2021 and is not by itself a finding about the plan.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jul 2022 to 30 Jun 2023, received by the Department of Labor on 14 Apr 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 56-0670666, plan 001, received 14 Apr 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.