Colorado › Professional, scientific and technical services › 250 to 499 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Matrix Design Group, Inc. Employee Stock Ownership Plan
Sponsored by Matrix Design Group, Inc., Colorado Springs, CO
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.
Matrix Design Group, Inc. Employee Stock Ownership Plan is an employee stock ownership plan sponsored by Matrix Design Group, Inc. of Colorado Springs, Colorado. For the plan year ending 31 Dec 2024 it reported 273 participants, 173 of them active, and net assets of $21.7M.
Net assets came to $79,544 per participant, well above the $48,746 median for defined contribution plans with 250 to 499 participants and above the $73,951 median for defined contribution plans in professional, scientific and technical 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 $1.0M during the year, or $5,781 per active participant against a same-size median of $2,017; participants contributed —. Benefits paid out totalled $1.1M.
Schedule C lists 2 service provider organisations paid $5,000 or more, with reported compensation of $60K: $219 per participant, well above the same-size median of $141. Administrative expenses charged to the plan were $79K. 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 $1.8M in 2009 to $21.7M in 2024 (up 1126%), and participants from 118 to 273 (up 131%).
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 | $79,544 | $48,746 | $73,951 | $53,102 |
| Employer contributions per active participant | $5,781 | $2,017 | $3,219 | $2,175 |
| Schedule C compensation per participant | $219 | $141 | $148 | $123 |
| Schedule C compensation, share of net assets | 0.28% | 0.30% | 0.22% | 0.26% |
| Administrative expenses per participant | $288 | $133 | $140 | $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), professional, scientific and technical services (9,776) 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 | 273 | $21.7M | $79,546 | $1.0M | — | $60K |
| 2023 | 243 | $19.3M | $79,568 | $1.0M | — | $56K |
| 2022 | 217 | $17.6M | $81,226 | $1.0M | — | $56K |
| 2021 | 224 | $15.2M | $67,763 | $500K | — | $24K |
| 2020 | 222 | $11.8M | $53,342 | $500K | — | $31K |
| 2019 | 213 | $10.8M | $50,798 | $500K | — | $30K |
| 2018 | 195 | $9.6M | $49,026 | $500K | — | $29K |
| 2017 | 188 | $8.6M | $45,856 | $500K | — | $13K |
| 2016 | 176 | $7.3M | $41,324 | $500K | — | $18K |
| 2015 | 166 | $5.4M | $32,422 | $500K | — | $20K |
| 2014 | 158 | $4.3M | $27,316 | $500K | — | $23K |
| 2013 | 147 | $3.4M | $23,116 | $500K | — | $31K |
| 2012 | 143 | $2.6M | $18,154 | $111K | — | $7,000 |
| 2011 | 142 | $2.0M | $14,282 | $0 | — | $8,000 |
| 2010 | 129 | $1.7M | $13,519 | $50K | — | $8,000 |
| 2009 | 118 | $1.8M | $15,008 | $430K | — | $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$19,335,406
- Employer contributions$1,000,038
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$1,000,038
- Total income, including investment results$3,556,282
- Benefits paid$1,097,604
- Administrative expenses$78,514
- Total expenses$1,176,118
- Net income$2,380,164
- Net transfers$0
- Net assets, end of year$21,715,570
Participants
- Active participants173
- Retired or separated, receiving benefits58
- Retired or separated, entitled to future benefits40
- Participants with account balances269
- Total participants, end of year273
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Menke and Associates | Contract Administrator | $30,674 | $0 |
| Fidelity Investment | Trustee (bank, trust company, or similar financial institution) | $29,238 | $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$34,499
- Trustee and custodial fees$31,015
- IQPA audit fees$13,000
- Total administrative expenses$78,514
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$17.2M · 79.0%
- Cash (interest and non-interest bearing)$2.5M · 11.6%
- U.S. Government securities$1.7M · 7.9%
- Receivables$311K · 1.4%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmBiggs Kofford, P.C.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,140,000
- 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 ESOP2QThe employer maintaining this ESOP is an S corporation3IPlan 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 541330: Engineering Services.
Other plans of Matrix Design Group, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Matrix Design Group 401(k) Plan | 310 | $17.0M |
Similar plans in Colorado
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Marx/okubo Associates, Ltd. 401(k) Profit Sharing Plan and Trust | Marx/okubo Associates, Ltd. | 279 | $39.3M | $140,759 |
| Contexture LLC 401(k) Plan | Contexture LLC | 272 | $25.5M | $93,720 |
| Pethero Inc. 401(k) Plan | Pethero Inc. | 287 | $1.8M | $6,160 |
| Passiohr, Inc. Retirement Savings Plan | Passiohr, Inc. | 267 | $10.8M | $40,520 |
| JCJ National Security LLC 401(k) Profit Sharing Plan & Trust | JCJ National Security LLC | 289 | $212K | $733 |
| Design Workshop, Inc. 401(k) Profit Sharing Plan | Design Workshop, Inc. | 265 | $29.3M | $110,398 |
Defined contribution plans in professional, scientific and technical services closest in size.
Questions and answers
How big is Matrix Design Group, Inc. Employee Stock Ownership Plan?
273 participants at the end of the plan year ending 31 Dec 2024, of whom 173 were active employees, with net assets of $21,715,570. 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 Matrix Design Group, Inc. contribute per participant?
The filing reports $1,000,038 in employer contributions for the year, which is $5,781 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 $59,912 in compensation to service provider organisations, $219 per participant or 0.28% of net assets. The same-size median among plans reporting any Schedule C compensation was $141 per participant. Administrative expenses on Schedule H were $78,514. 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 Matrix Design Group, Inc.. Recordkeeping or administration: Menke and Associates. Trustee or custodian: Fidelity Investment. The financial statements were audited by Biggs Kofford, P.C.. 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 9 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 84-1515767, plan 002, received 9 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.