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INNOVATIVE MANAGEMENT 401(K) PLAN 401k Plan overview

Plan NameINNOVATIVE MANAGEMENT 401(K) PLAN
Plan identification number 001

INNOVATIVE MANAGEMENT 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

INNOVATIVE MANAGEMENT, INC. has sponsored the creation of one or more 401k plans.

Company Name:INNOVATIVE MANAGEMENT, INC.
Employer identification number (EIN):742850733
NAIC Classification:561300

Form 5500 Filing Information

Submission information for form 5500 for 401k plan INNOVATIVE MANAGEMENT 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012015-01-01KRISTINA COLEMAN
0012014-01-01KRISTINA COLEMAN
0012013-01-01KRISTINA COLEMAN
0012012-01-01KRISTINA COLEMAN KRISTINA COLEMAN2013-10-10
0012011-01-01KRISTINA COLEMAN
0012010-01-01KRISTINA COLEMAN
0012009-01-01KRISTINA COLEMAN

Plan Statistics for INNOVATIVE MANAGEMENT 401(K) PLAN

401k plan membership statisitcs for INNOVATIVE MANAGEMENT 401(K) PLAN

Measure Date Value
2015: INNOVATIVE MANAGEMENT 401(K) PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-0136
Total number of active participants reported on line 7a of the Form 55002015-01-010
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-010
Total of all active and inactive participants2015-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-010
Number of participants with account balances2015-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010
2014: INNOVATIVE MANAGEMENT 401(K) PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-0162
Total number of active participants reported on line 7a of the Form 55002014-01-011
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-0135
Total of all active and inactive participants2014-01-0136
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-0136
Number of participants with account balances2014-01-0136
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-010
2013: INNOVATIVE MANAGEMENT 401(K) PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-0186
Total number of active participants reported on line 7a of the Form 55002013-01-0113
Number of other retired or separated participants entitled to future benefits2013-01-0149
Total of all active and inactive participants2013-01-0162
Total participants2013-01-0162
Number of participants with account balances2013-01-0162
2012: INNOVATIVE MANAGEMENT 401(K) PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-0192
Total number of active participants reported on line 7a of the Form 55002012-01-0128
Number of retired or separated participants receiving benefits2012-01-010
Number of other retired or separated participants entitled to future benefits2012-01-0158
Total of all active and inactive participants2012-01-0186
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-010
Total participants2012-01-0186
Number of participants with account balances2012-01-0184
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-010
2011: INNOVATIVE MANAGEMENT 401(K) PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-01146
Total number of active participants reported on line 7a of the Form 55002011-01-0119
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-0173
Total of all active and inactive participants2011-01-0192
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-0192
Number of participants with account balances2011-01-0192
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010
2010: INNOVATIVE MANAGEMENT 401(K) PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-01163
Total number of active participants reported on line 7a of the Form 55002010-01-0116
Number of retired or separated participants receiving benefits2010-01-010
Number of other retired or separated participants entitled to future benefits2010-01-01130
Total of all active and inactive participants2010-01-01146
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-01146
Number of participants with account balances2010-01-01141
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-010
2009: INNOVATIVE MANAGEMENT 401(K) PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-01192
Total number of active participants reported on line 7a of the Form 55002009-01-0138
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-01125
Total of all active and inactive participants2009-01-01163
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-01163
Number of participants with account balances2009-01-01162
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on INNOVATIVE MANAGEMENT 401(K) PLAN

Measure Date Value
2015 : INNOVATIVE MANAGEMENT 401(K) PLAN 2015 401k financial data
Transfers to/from the plan2015-12-18$0
Total plan liabilities at end of year2015-12-18$0
Total plan liabilities at beginning of year2015-12-18$0
Total income from all sources2015-12-18$5,901
Expenses. Total of all expenses incurred2015-12-18$377,426
Benefits paid (including direct rollovers)2015-12-18$374,962
Total plan assets at end of year2015-12-18$0
Total plan assets at beginning of year2015-12-18$371,525
Value of fidelity bond covering the plan2015-12-18$100,000
Total contributions received or receivable from participants2015-12-18$1,165
Expenses. Other expenses not covered elsewhere2015-12-18$0
Contributions received from other sources (not participants or employers)2015-12-18$0
Other income received2015-12-18$4,625
Noncash contributions received2015-12-18$0
Net income (gross income less expenses)2015-12-18$-371,525
Net plan assets at end of year (total assets less liabilities)2015-12-18$0
Net plan assets at beginning of year (total assets less liabilities)2015-12-18$371,525
Total contributions received or receivable from employer(s)2015-12-18$111
Value of certain deemed distributions of participant loans2015-12-18$0
Value of corrective distributions2015-12-18$0
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-18$2,464
2014 : INNOVATIVE MANAGEMENT 401(K) PLAN 2014 401k financial data
Transfers to/from the plan2014-12-31$0
Total plan liabilities at end of year2014-12-31$0
Total plan liabilities at beginning of year2014-12-31$0
Total income from all sources2014-12-31$36,177
Expenses. Total of all expenses incurred2014-12-31$224,713
Benefits paid (including direct rollovers)2014-12-31$221,641
Total plan assets at end of year2014-12-31$371,525
Total plan assets at beginning of year2014-12-31$560,061
Value of fidelity bond covering the plan2014-12-31$100,000
Total contributions received or receivable from participants2014-12-31$6,161
Expenses. Other expenses not covered elsewhere2014-12-31$0
Contributions received from other sources (not participants or employers)2014-12-31$0
Other income received2014-12-31$26,564
Noncash contributions received2014-12-31$0
Net income (gross income less expenses)2014-12-31$-188,536
Net plan assets at end of year (total assets less liabilities)2014-12-31$371,525
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$560,061
Total contributions received or receivable from employer(s)2014-12-31$3,452
Value of certain deemed distributions of participant loans2014-12-31$0
Value of corrective distributions2014-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2014-12-31$3,072
2013 : INNOVATIVE MANAGEMENT 401(K) PLAN 2013 401k financial data
Transfers to/from the plan2013-12-31$0
Total plan liabilities at end of year2013-12-31$0
Total income from all sources2013-12-31$152,903
Expenses. Total of all expenses incurred2013-12-31$51,047
Benefits paid (including direct rollovers)2013-12-31$48,002
Total plan assets at end of year2013-12-31$560,061
Total plan assets at beginning of year2013-12-31$458,205
Value of fidelity bond covering the plan2013-12-31$100,000
Total contributions received or receivable from participants2013-12-31$28,638
Expenses. Other expenses not covered elsewhere2013-12-31$0
Contributions received from other sources (not participants or employers)2013-12-31$0
Other income received2013-12-31$109,480
Noncash contributions received2013-12-31$0
Net income (gross income less expenses)2013-12-31$101,856
Net plan assets at end of year (total assets less liabilities)2013-12-31$560,061
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$458,205
Total contributions received or receivable from employer(s)2013-12-31$14,785
Value of certain deemed distributions of participant loans2013-12-31$0
Value of corrective distributions2013-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2013-12-31$3,045
2012 : INNOVATIVE MANAGEMENT 401(K) PLAN 2012 401k financial data
Total income from all sources2012-12-31$140,294
Expenses. Total of all expenses incurred2012-12-31$178,685
Benefits paid (including direct rollovers)2012-12-31$174,733
Total plan assets at end of year2012-12-31$458,205
Total plan assets at beginning of year2012-12-31$496,596
Value of fidelity bond covering the plan2012-12-31$100,000
Total contributions received or receivable from participants2012-12-31$58,237
Other income received2012-12-31$61,006
Net income (gross income less expenses)2012-12-31$-38,391
Net plan assets at end of year (total assets less liabilities)2012-12-31$458,205
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$496,596
Total contributions received or receivable from employer(s)2012-12-31$21,051
Expenses. Administrative service providers (salaries,fees and commissions)2012-12-31$3,952
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
2011 : INNOVATIVE MANAGEMENT 401(K) PLAN 2011 401k financial data
Total income from all sources (including contributions)2011-12-31$99,155
Total of all expenses incurred2011-12-31$194,502
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2011-12-31$187,517
Total contributions o plan (from employers,participants, others, non cash contrinutions)2011-12-31$104,573
Value of total assets at end of year2011-12-31$496,596
Value of total assets at beginning of year2011-12-31$591,943
Total of administrative expenses incurred including professional, contract, advisory and management fees2011-12-31$6,985
Total interest from all sources2011-12-31$7
Total dividends received (eg from common stock, registered investment company shares)2011-12-31$14,301
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2011-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2011-12-31$14,301
Was this plan covered by a fidelity bond2011-12-31Yes
Value of fidelity bond cover2011-12-31$100,000
If this is an individual account plan, was there a blackout period2011-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
Were there any nonexempt tranactions with any party-in-interest2011-12-31No
Contributions received from participants2011-12-31$76,436
Income. Received or receivable in cash from other sources (including rollovers)2011-12-31$1,150
Administrative expenses (other) incurred2011-12-31$6,985
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Value of net income/loss2011-12-31$-95,347
Value of net assets at end of year (total assets less liabilities)2011-12-31$496,596
Value of net assets at beginning of year (total assets less liabilities)2011-12-31$591,943
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2011-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2011-12-31No
Were any leases to which the plan was party in default or uncollectible2011-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2011-12-31$431,800
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2011-12-31$514,467
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2011-12-31$64,796
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2011-12-31$77,476
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2011-12-31$77,476
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2011-12-31$7
Net investment gain/loss from registered investment companies (e.g. mutual funds)2011-12-31$-19,726
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2011-12-31No
Was there a failure to transmit to the plan any participant contributions2011-12-31No
Has the plan failed to provide any benefit when due under the plan2011-12-31No
Contributions received in cash from employer2011-12-31$26,987
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2011-12-31$187,517
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32011-12-31No
Did the plan have assets held for investment2011-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2011-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2011-12-31Yes
Opinion of an independent qualified public accountant for this plan2011-12-31Disclaimer
Accountancy firm name2011-12-31MARK LACKIE, PC
Accountancy firm EIN2011-12-31208545285
2010 : INNOVATIVE MANAGEMENT 401(K) PLAN 2010 401k financial data
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$0
Total income from all sources (including contributions)2010-12-31$208,359
Total of all expenses incurred2010-12-31$104,646
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2010-12-31$97,611
Value of total corrective distributions2010-12-31$495
Total contributions o plan (from employers,participants, others, non cash contrinutions)2010-12-31$139,804
Value of total assets at end of year2010-12-31$591,943
Value of total assets at beginning of year2010-12-31$488,230
Total of administrative expenses incurred including professional, contract, advisory and management fees2010-12-31$6,540
Total interest from all sources2010-12-31$16
Total dividends received (eg from common stock, registered investment company shares)2010-12-31$8,621
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2010-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2010-12-31$8,621
Was this plan covered by a fidelity bond2010-12-31Yes
Value of fidelity bond cover2010-12-31$100,000
If this is an individual account plan, was there a blackout period2010-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
Were there any nonexempt tranactions with any party-in-interest2010-12-31No
Contributions received from participants2010-12-31$105,714
Income. Received or receivable in cash from other sources (including rollovers)2010-12-31$1,665
Administrative expenses (other) incurred2010-12-31$6,540
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Value of net income/loss2010-12-31$103,713
Value of net assets at end of year (total assets less liabilities)2010-12-31$591,943
Value of net assets at beginning of year (total assets less liabilities)2010-12-31$488,230
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2010-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2010-12-31No
Were any leases to which the plan was party in default or uncollectible2010-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2010-12-31$514,467
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2010-12-31$391,806
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2010-12-31$77,476
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2010-12-31$96,424
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2010-12-31$96,424
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2010-12-31$16
Net investment gain/loss from registered investment companies (e.g. mutual funds)2010-12-31$59,918
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2010-12-31No
Was there a failure to transmit to the plan any participant contributions2010-12-31Yes
Has the plan failed to provide any benefit when due under the plan2010-12-31No
Contributions received in cash from employer2010-12-31$32,425
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2010-12-31$97,611
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32010-12-31No
Did the plan have assets held for investment2010-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2010-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2010-12-31Yes
Opinion of an independent qualified public accountant for this plan2010-12-31Unqualified
Accountancy firm name2010-12-31MARK LACKIE PC
Accountancy firm EIN2010-12-31208545285
2009 : INNOVATIVE MANAGEMENT 401(K) PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for INNOVATIVE MANAGEMENT 401(K) PLAN

2015: INNOVATIVE MANAGEMENT 401(K) PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingYes
2015-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes
2014: INNOVATIVE MANAGEMENT 401(K) PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Submission has been amendedNo
2014-01-01This submission is the final filingNo
2014-01-01This return/report is a short plan year return/report (less than 12 months)No
2014-01-01Plan is a collectively bargained planNo
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement - TrustYes
2013: INNOVATIVE MANAGEMENT 401(K) PLAN 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Submission has been amendedNo
2013-01-01This submission is the final filingNo
2013-01-01This return/report is a short plan year return/report (less than 12 months)No
2013-01-01Plan is a collectively bargained planNo
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement - TrustYes
2012: INNOVATIVE MANAGEMENT 401(K) PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Submission has been amendedNo
2012-01-01This submission is the final filingNo
2012-01-01This return/report is a short plan year return/report (less than 12 months)No
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: INNOVATIVE MANAGEMENT 401(K) PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes
2010: INNOVATIVE MANAGEMENT 401(K) PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedYes
2010-01-01This submission is the final filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes
2009: INNOVATIVE MANAGEMENT 401(K) PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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