North Carolina › Construction › 100 to 249 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Monteith Construction Corp. Employee Stock Ownership Plan
Sponsored by Monteith Construction Corp., Wilmington, 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.
Monteith Construction Corp. Employee Stock Ownership Plan is an employee stock ownership plan sponsored by Monteith Construction Corp. of Wilmington, North Carolina. For the plan year ending 31 Dec 2024 it reported 136 participants, 136 of them active, and net assets of −$10.6M.
Schedule C lists 3 service provider organisations paid $5,000 or more, with reported compensation of $112K: $824 per participant, well above the same-size median of $194. Administrative expenses charged to the plan were $105. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
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 | — | $60,185 | $54,962 | $53,102 |
| Employer contributions per active participant | — | $2,447 | $2,728 | $2,175 |
| Schedule C compensation per participant | $824 | $194 | $162 | $123 |
| Schedule C compensation, share of net assets | — | 0.32% | 0.33% | 0.26% |
| Administrative expenses per participant | $0.77 | $176 | $166 | $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), construction (4,204) and all US plans (63,460). Fee medians cover plans that report an amount.
Statement for the year
- Net assets, beginning of year$0
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results−$9,423,156
- Benefits paid$0
- Administrative expenses$105
- Total expenses$1,178,888
- Net income−$10,602,044
- Net transfers$0
- Net assets, end of year−$10,602,044
Participants
- Active participants136
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits0
- Participants with account balances135
- Total participants, end of year136
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Clark Hill PLC | Legal | $45,635 | $0 |
| Prudent Fiduciary Services LLC | Trustee (directed) | $42,436 | $0 |
| Principal Financial Group | Plan Administrator | $24,000 | $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
- Other administrative expenses$105
- Total administrative expenses$105
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$15.7M · 100.0%
- Cash (interest and non-interest bearing)$95 · 0.0%
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 lateNo
- Covered by a fidelity bondNo
- 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
2PLeveraged 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 236200: Nonresidential Building Construction.
Other plans of Monteith Construction Corp.
| Plan | Participants | Net assets |
|---|---|---|
| Monteith Construction Corp. 401(k) Plan | 194 | $7.7M |
Similar plans in North Carolina
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| The Bobbitt Group, Inc. 401(k) Plan | The Bobbitt Group, Inc. | 143 | $5.2M | $36,106 |
| Environamics, Inc. 401(k) Safe Harbor Plan | Environamics, Inc. | 134 | $15.4M | $114,610 |
| Bryant-Durham Electric Company, Inc. 401(k) Plan | Bryant-Durham Electric Company, Inc. | 144 | $9.6M | $66,634 |
| American Safety Traffic Control, LLC 401(k) Plan | American Safety Traffic Control, LLC | 124 | $51K | $412 |
| The Hamlin Companies, Inc. 401(k) Profit Sharing Plan | The Hamlin Companies, Inc. | 145 | $13.6M | $93,744 |
| S E & M Constructors, Inc. 401(k) Plan | S E & M Constructors, Inc. | 118 | $4.3M | $36,786 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Monteith Construction Corp. Employee Stock Ownership Plan?
136 participants at the end of the plan year ending 31 Dec 2024, of whom 136 were active employees, with net assets of −$10,602,044. 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 Monteith Construction Corp. 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 $112,071 in compensation to service provider organisations, $824 per participant. The same-size median among plans reporting any Schedule C compensation was $194 per participant. Administrative expenses on Schedule H were $105. 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 Monteith Construction Corp.. Recordkeeping or administration: Principal Financial Group. Trustee or custodian: Prudent Fiduciary Services LLC. 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 8 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 98-0190888, plan 002, received 8 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.