California › Health care and social assistance › 250 to 499 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Sansum Santa Barbara Medical Clinic, Inc. Profit Sharing Plan
Sponsored by Sansum Santa Barbara Medical Clinic, Inc., Santa Barbara, 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.
In the plan year ending 31 Dec 2024, Sansum Santa Barbara Medical Clinic, Inc. Profit Sharing Plan covered 345 participants and held $236M in net assets. The plan is a 401(k) plan sponsored by Sansum Santa Barbara Medical Clinic, Inc. of Santa Barbara, California.
Net assets came to $683,471 per participant, well above the $48,746 median for defined contribution plans with 250 to 499 participants and well above the $30,764 median for defined contribution plans in health care and social assistance. 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 $5.4M during the year, or $22,446 per active participant against a same-size median of $2,017; participants contributed $4.3M and $105K arrived as rollovers and other contributions. Benefits paid out totalled $10.5M.
Schedule C lists 15 service provider organisations paid $5,000 or more, with reported compensation of $875K: $2,538 per participant, well above the same-size median of $141. Administrative expenses charged to the plan were $831K. 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 $70.5M in 2009 to $236M in 2024 (up 234%), and participants from 227 to 345 (up 52%).
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 | $683,471 | $48,746 | $30,764 | $53,102 |
| Employer contributions per active participant | $22,446 | $2,017 | $1,536 | $2,175 |
| Schedule C compensation per participant | $2,538 | $141 | $93.85 | $123 |
| Schedule C compensation, share of net assets | 0.37% | 0.30% | 0.31% | 0.26% |
| Administrative expenses per participant | $2,408 | $133 | $86.53 | $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), health care and social assistance (9,402) 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 | 345 | $236M | $683,472 | $5.4M | $4.3M | $875K |
| 2023 | 323 | $205M | $634,257 | $5.0M | $4.1M | $763K |
| 2022 | 304 | $185M | $607,007 | $4.9M | $3.7M | $625K |
| 2021 | 306 | $224M | $731,418 | $4.5M | $3.6M | $713K |
| 2020 | 295 | $204M | $691,163 | $4.1M | $3.4M | $611K |
| 2019 | 280 | $172M | $614,564 | $3.9M | $3.1M | $567K |
| 2018 | 280 | $144M | $512,518 | $4.1M | $3.0M | $563K |
| 2017 | 266 | $152M | $572,038 | $3.9M | $2.9M | $510K |
| 2016 | 265 | $128M | $483,992 | $3.7M | $2.8M | $448K |
| 2015 | 258 | $117M | $453,186 | $3.8M | $2.5M | $496K |
| 2014 | 258 | $118M | $458,872 | $4.4M | $2.4M | $436K |
| 2013 | 251 | $107M | $425,841 | $3.3M | $2.3M | $447K |
| 2012 | 236 | $90.6M | $384,072 | $3.3M | $2.2M | $411K |
| 2011 | 279 | $82.2M | $294,771 | $3.5M | $2.2M | $404K |
| 2010 | 225 | $79.5M | $353,489 | $2.8M | $2.2M | $399K |
| 2009 | 227 | $70.5M | $310,608 | $2.7M | $2.1M | $330K |
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$204,865,246
- Employer contributions$5,409,366
- Participant contributions$4,294,446
- Rollovers and other contributions$105,194
- Total contributions$9,809,006
- Total income, including investment results$42,258,734
- Benefits paid$10,495,643
- Administrative expenses$830,825
- Total expenses$11,326,468
- Net income$30,932,266
- Net transfers$0
- Net assets, end of year$235,797,512
Participants
- Active participants241
- Retired or separated, receiving benefits11
- Retired or separated, entitled to future benefits91
- Participants with account balances317
- Total participants, end of year345
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Morgan Stanley | Custodial (securities); Investment advisory (participants); Investment advisory (plan); Investment management; Securities brokerage; Other services | $297,719 | $0 |
| Oneamerica Retirement Services, LLC | Recordkeeping and information management; Participant loan processing; Participant communication | $245,698 | $0 |
| Donnelly Wealth Advisors | Investment advisory (participants) | $60,559 | $0 |
| Merrill Lynch | Investment advisory (participants); Securities brokerage | $39,891 | $0 |
| Laurel Wealth Advisors | Investment advisory (participants) | $35,407 | $0 |
| Mission Wealth | Investment advisory (participants) | $30,466 | $0 |
| Lha Capital Partners | Investment advisory (participants) | $29,326 | $0 |
| Envestnet Asset Management, Inc. | Investment advisory (participants) | $24,588 | $0 |
| Mercer Global Advisors, Inc. | Investment advisory (participants) | $21,842 | $0 |
| Integrity Wealth Advisors | Investment advisory (participants) | $19,268 | $0 |
| Charles Schwab & Co., Inc., | Custodial (securities); Investment advisory (participants); Investment management; Securities brokerage | $12,642 | $0 |
| Bridgewater Wealth MGMT LLC | Investment advisory (participants) | $12,237 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 3 smaller rows are not shown. 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
- Investment advisory and management fees$580,471
- Contract administrator fees$245,698
- Other administrative expenses$4,656
- Total administrative expenses$830,825
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)$179M · 75.9%
- Corporate stocks$31.8M · 13.5%
- Common/collective trusts$10.8M · 4.6%
- Cash (interest and non-interest bearing)$6.4M · 2.7%
- Partnership/joint venture interests$3.4M · 1.4%
- Corporate debt instruments$2.6M · 1.1%
- Receivables$874K · 0.4%
- Other investments$336K · 0.1%
- U.S. Government securities$332K · 0.1%
- Participant loans$298K · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmHutchinson and Bloodgood LLP
- 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
2AAge/service weighted or new comparability or similar plan2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2JCode section 401(k) feature2RParticipant-directed brokerage accounts provided as an investment option under the 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 621111: Offices of Physicians (except mental health specialists).
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| The 401(k) Profit Sharing Plan of Social Model Recovery Systems, Inc. | Social Model Recovery Systems, Inc. | 346 | $4.0M | $11,554 |
| Ventura Orthopedics Medical Group, Inc. 401(k) Profit Sharing Plan | Ventura Orthopedics Medical Group, Inc. | 345 | $35.7M | $103,476 |
| Emergency Groups' Office 401(k) Plan | Ego, Inc. DBA Brault | 346 | $9.5M | $27,429 |
| Octave 401(k) Plan | Octave Health Group Inc. | 345 | $9.6M | $27,701 |
| National Renal Care 401(k) Plan | National Renal Care, LLC | 346 | $10.4M | $30,066 |
| Scripps Coastal Medical Group, Inc. Retirement Savings Plan | San Diego Coastal Medical Group, Inc. | 345 | $136M | $395,577 |
Defined contribution plans in health care and social assistance closest in size.
Questions and answers
How big is Sansum Santa Barbara Medical Clinic, Inc. Profit Sharing Plan?
345 participants at the end of the plan year ending 31 Dec 2024, of whom 241 were active employees, with net assets of $235,797,512. 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 Sansum Santa Barbara Medical Clinic, Inc. contribute per participant?
The filing reports $5,409,366 in employer contributions for the year, which is $22,446 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 $875,470 in compensation to service provider organisations, $2,538 per participant or 0.37% of net assets. The same-size median among plans reporting any Schedule C compensation was $141 per participant. Administrative expenses on Schedule H were $830,825. 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 Sansum Santa Barbara Medical Clinic, Inc.. Recordkeeping or administration: Oneamerica Retirement Services, LLC. Investment advisory or management: Morgan Stanley, Donnelly Wealth Advisors and Merrill Lynch. Trustee or custodian: Morgan Stanley and Charles Schwab & Co., Inc.,. The financial statements were audited by Hutchinson and Bloodgood LLP. 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 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 95-2855614, 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.