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FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 401k Plan overview

Plan NameFREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN
Plan identification number 002

FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Target benefit plan
  • Profit-sharing
  • Stock bonus
  • Leveraged ESOP - An ESOP that acquires employer securities with borrowed money or other debt-financing techniques. A completed Schedule E must be attached to a Form 5500 filed for an ESOP.
  • The employer maintaining this ESOP is an S Corporation
  • Plan requiring that all or part of employer contributions be invested and held, at least for a limited period, in employer securities.

401k Sponsoring company profile

FREEDOM INDUSTRIES, INC. has sponsored the creation of one or more 401k plans.

Company Name:FREEDOM INDUSTRIES, INC.
Employer identification number (EIN):200450529
NAIC Classification:541990
NAIC Description:All Other Professional, Scientific, and Technical Services

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01
0022021-01-01
0022020-01-01
0022019-01-01
0022018-01-01
0022017-01-01DERRICK VICK
0022016-01-01DERRICK VICK FREEDOM INDUSTRIES, INC.2017-10-11
0022015-01-01DERRICK VICK FREEDOM INDUSTRIES, INC.2016-09-29
0022014-01-01DERRICK VICK FREEDOM INDUSTRIES, INC.2015-10-01
0022012-01-01DERRICK VICK DERRICK VICK2013-06-20

Plan Statistics for FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN

401k plan membership statisitcs for FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2022: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01156
Total number of active participants reported on line 7a of the Form 55002022-01-01116
Number of retired or separated participants receiving benefits2022-01-012
Number of other retired or separated participants entitled to future benefits2022-01-0126
Total of all active and inactive participants2022-01-01144
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01144
Number of participants with account balances2022-01-01141
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-0114
2021: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01162
Total number of active participants reported on line 7a of the Form 55002021-01-01102
Number of retired or separated participants receiving benefits2021-01-013
Number of other retired or separated participants entitled to future benefits2021-01-0128
Total of all active and inactive participants2021-01-01133
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01133
Number of participants with account balances2021-01-01129
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-0119
2020: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-01164
Total number of active participants reported on line 7a of the Form 55002020-01-01108
Number of retired or separated participants receiving benefits2020-01-012
Number of other retired or separated participants entitled to future benefits2020-01-0115
Total of all active and inactive participants2020-01-01125
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-01125
Number of participants with account balances2020-01-01123
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-0111
2019: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-01184
Total number of active participants reported on line 7a of the Form 55002019-01-0193
Number of retired or separated participants receiving benefits2019-01-013
Number of other retired or separated participants entitled to future benefits2019-01-0133
Total of all active and inactive participants2019-01-01129
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-01129
Number of participants with account balances2019-01-01128
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-0129
2018: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-01181
Total number of active participants reported on line 7a of the Form 55002018-01-01105
Number of retired or separated participants receiving benefits2018-01-012
Number of other retired or separated participants entitled to future benefits2018-01-0131
Total of all active and inactive participants2018-01-01138
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-01138
Number of participants with account balances2018-01-01137
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-0132
2017: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-01183
Total number of active participants reported on line 7a of the Form 55002017-01-01113
Number of retired or separated participants receiving benefits2017-01-011
Number of other retired or separated participants entitled to future benefits2017-01-0126
Total of all active and inactive participants2017-01-01140
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-01140
Number of participants with account balances2017-01-01139
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-0129
2016: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-01137
Total number of active participants reported on line 7a of the Form 55002016-01-01108
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-0111
Total of all active and inactive participants2016-01-01119
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-01119
Number of participants with account balances2016-01-01119
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-0110
2015: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-01100
Total number of active participants reported on line 7a of the Form 55002015-01-0180
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-018
Total of all active and inactive participants2015-01-0188
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-013
Total participants2015-01-0191
Number of participants with account balances2015-01-0191
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-015
2014: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-0195
Total number of active participants reported on line 7a of the Form 55002014-01-0179
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-012
Total of all active and inactive participants2014-01-0181
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-011
Total participants2014-01-0182
Number of participants with account balances2014-01-0182
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-010
2012: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-01110
Total number of active participants reported on line 7a of the Form 55002012-01-0192
Number of retired or separated participants receiving benefits2012-01-013
Total of all active and inactive participants2012-01-0195
Total participants2012-01-0195

Financial Data on FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2022 : FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2022 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2022-12-31$7,634,200
Total unrealized appreciation/depreciation of assets2022-12-31$7,634,200
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$208,997
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$228,338
Expenses. Interest paid2022-12-31$6,645
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022022-12-31$6,645
Total income from all sources (including contributions)2022-12-31$8,137,501
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$41,852
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$35,207
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$502,855
Value of total assets at end of year2022-12-31$13,889,024
Value of total assets at beginning of year2022-12-31$5,812,716
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$0
Total interest from all sources2022-12-31$446
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$1,000,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2022-12-31$208,997
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2022-12-31$228,338
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$8,095,649
Value of net assets at end of year (total assets less liabilities)2022-12-31$13,680,027
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$5,584,378
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2022-12-31$477,824
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2022-12-31$35,716
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2022-12-31$35,716
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2022-12-31$446
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31Yes
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Assets. Invements in employer securities at end of year2022-12-31$13,411,200
Assets. Invements in employer securities at beginning of year2022-12-31$5,777,000
Contributions received in cash from employer2022-12-31$502,855
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$35,207
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31PLANTE & MORAN, PLLC
Accountancy firm EIN2022-12-31381357951
2021 : FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2021 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2021-12-31$4,019,750
Total unrealized appreciation/depreciation of assets2021-12-31$4,019,750
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$228,338
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$247,132
Expenses. Interest paid2021-12-31$7,192
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022021-12-31$7,192
Total income from all sources (including contributions)2021-12-31$4,079,875
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$27,809
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$20,617
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$60,122
Value of total assets at end of year2021-12-31$5,812,716
Value of total assets at beginning of year2021-12-31$1,779,444
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$0
Total interest from all sources2021-12-31$3
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$1,000,000
If this is an individual account plan, was there a blackout period2021-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2021-12-31$228,338
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2021-12-31$247,132
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$4,052,066
Value of net assets at end of year (total assets less liabilities)2021-12-31$5,584,378
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$1,532,312
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2021-12-31No
Were any leases to which the plan was party in default or uncollectible2021-12-31No
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2021-12-31$35,716
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2021-12-31$22,194
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2021-12-31$22,194
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2021-12-31$3
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31No
Was there a failure to transmit to the plan any participant contributions2021-12-31No
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Assets. Invements in employer securities at end of year2021-12-31$5,777,000
Assets. Invements in employer securities at beginning of year2021-12-31$1,757,250
Contributions received in cash from employer2021-12-31$60,122
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$20,617
Did the plan have assets held for investment2021-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-12-31No
Opinion of an independent qualified public accountant for this plan2021-12-31Unqualified
Accountancy firm name2021-12-31PLANTE & MORAN, PLLC
Accountancy firm EIN2021-12-31381357951
2020 : FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2020 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2020-12-31$90,750
Total unrealized appreciation/depreciation of assets2020-12-31$90,750
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$247,132
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$265,395
Expenses. Interest paid2020-12-31$7,723
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022020-12-31$7,723
Total income from all sources (including contributions)2020-12-31$187,478
Total loss/gain on sale of assets2020-12-31$0
Total of all expenses incurred2020-12-31$56,279
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$48,556
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$96,728
Value of total assets at end of year2020-12-31$1,779,444
Value of total assets at beginning of year2020-12-31$1,666,508
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$0
Total interest from all sources2020-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2020-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-12-31No
Was this plan covered by a fidelity bond2020-12-31Yes
Value of fidelity bond cover2020-12-31$1,000,000
If this is an individual account plan, was there a blackout period2020-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2020-12-31$247,132
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2020-12-31$265,395
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$131,199
Value of net assets at end of year (total assets less liabilities)2020-12-31$1,532,312
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$1,401,113
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2020-12-31No
Were any leases to which the plan was party in default or uncollectible2020-12-31No
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2020-12-31$22,194
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2020-12-31$8
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2020-12-31$8
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-12-31No
Was there a failure to transmit to the plan any participant contributions2020-12-31No
Has the plan failed to provide any benefit when due under the plan2020-12-31No
Assets. Invements in employer securities at end of year2020-12-31$1,757,250
Assets. Invements in employer securities at beginning of year2020-12-31$1,666,500
Contributions received in cash from employer2020-12-31$96,728
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$48,556
Did the plan have assets held for investment2020-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-12-31No
Opinion of an independent qualified public accountant for this plan2020-12-31Unqualified
Accountancy firm name2020-12-31PLANTE & MORAN, PLLC
Accountancy firm EIN2020-12-31381357951
2019 : FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2019 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2019-12-31$849,750
Total unrealized appreciation/depreciation of assets2019-12-31$849,750
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$265,395
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$283,141
Expenses. Interest paid2019-12-31$8,239
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022019-12-31$8,239
Total income from all sources (including contributions)2019-12-31$901,396
Total loss/gain on sale of assets2019-12-31$0
Total of all expenses incurred2019-12-31$33,897
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$25,658
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$51,643
Value of total assets at end of year2019-12-31$1,666,508
Value of total assets at beginning of year2019-12-31$816,755
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$0
Total interest from all sources2019-12-31$3
Total dividends received (eg from common stock, registered investment company shares)2019-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31No
Was this plan covered by a fidelity bond2019-12-31Yes
Value of fidelity bond cover2019-12-31$500,000
If this is an individual account plan, was there a blackout period2019-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2019-12-31$265,395
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2019-12-31$283,141
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Value of net income/loss2019-12-31$867,499
Value of net assets at end of year (total assets less liabilities)2019-12-31$1,401,113
Value of net assets at beginning of year (total assets less liabilities)2019-12-31$533,614
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2019-12-31No
Were any leases to which the plan was party in default or uncollectible2019-12-31No
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2019-12-31$8
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2019-12-31$-45
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2019-12-31$-45
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2019-12-31$3
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31No
Was there a failure to transmit to the plan any participant contributions2019-12-31No
Has the plan failed to provide any benefit when due under the plan2019-12-31No
Assets. Invements in employer securities at end of year2019-12-31$1,666,500
Assets. Invements in employer securities at beginning of year2019-12-31$816,750
Contributions received in cash from employer2019-12-31$51,643
Employer contributions (assets) at end of year2019-12-31$0
Employer contributions (assets) at beginning of year2019-12-31$50
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$25,658
Did the plan have assets held for investment2019-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-12-31No
Opinion of an independent qualified public accountant for this plan2019-12-31Unqualified
Accountancy firm name2019-12-31PLANTE & MORAN, PLLC
Accountancy firm EIN2019-12-31381357951
2018 : FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2018 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2018-12-31$-2,376,000
Total unrealized appreciation/depreciation of assets2018-12-31$-2,376,000
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-12-31$283,141
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-12-31$300,435
Expenses. Interest paid2018-12-31$8,741
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022018-12-31$8,741
Total income from all sources (including contributions)2018-12-31$-2,313,857
Total loss/gain on sale of assets2018-12-31$0
Total of all expenses incurred2018-12-31$47,014
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2018-12-31$37,913
Total contributions o plan (from employers,participants, others, non cash contrinutions)2018-12-31$62,109
Value of total assets at end of year2018-12-31$816,755
Value of total assets at beginning of year2018-12-31$3,194,920
Total of administrative expenses incurred including professional, contract, advisory and management fees2018-12-31$360
Total interest from all sources2018-12-31$34
Total dividends received (eg from common stock, registered investment company shares)2018-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2018-12-31No
Was this plan covered by a fidelity bond2018-12-31Yes
Value of fidelity bond cover2018-12-31$500,000
If this is an individual account plan, was there a blackout period2018-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-12-31$0
Were there any nonexempt tranactions with any party-in-interest2018-12-31No
Value of other receiveables (less allowance for doubtful accounts) at end of year2018-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2018-12-31$272
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2018-12-31$283,141
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2018-12-31$300,385
Administrative expenses (other) incurred2018-12-31$360
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Value of net income/loss2018-12-31$-2,360,871
Value of net assets at end of year (total assets less liabilities)2018-12-31$533,614
Value of net assets at beginning of year (total assets less liabilities)2018-12-31$2,894,485
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2018-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2018-12-31No
Were any leases to which the plan was party in default or uncollectible2018-12-31No
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2018-12-31$-45
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2018-12-31$1,898
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2018-12-31$1,898
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2018-12-31$34
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2018-12-31No
Was there a failure to transmit to the plan any participant contributions2018-12-31No
Has the plan failed to provide any benefit when due under the plan2018-12-31No
Assets. Invements in employer securities at end of year2018-12-31$816,750
Assets. Invements in employer securities at beginning of year2018-12-31$3,192,750
Contributions received in cash from employer2018-12-31$62,109
Employer contributions (assets) at end of year2018-12-31$50
Employer contributions (assets) at beginning of year2018-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2018-12-31$37,913
Liabilities. Value of benefit claims payable at end of year2018-12-31$0
Liabilities. Value of benefit claims payable at beginning of year2018-12-31$50
Did the plan have assets held for investment2018-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2018-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2018-12-31No
Opinion of an independent qualified public accountant for this plan2018-12-31Unqualified
Accountancy firm name2018-12-31PLANTE & MORAN, PLLC
Accountancy firm EIN2018-12-31381357951
2017 : FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2017 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2017-12-31$1,039,500
Total unrealized appreciation/depreciation of assets2017-12-31$1,039,500
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2017-12-31$300,435
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2017-12-31$317,142
Expenses. Interest paid2017-12-31$9,229
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022017-12-31$9,229
Total income from all sources (including contributions)2017-12-31$1,077,652
Total loss/gain on sale of assets2017-12-31$0
Total of all expenses incurred2017-12-31$22,101
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2017-12-31$12,152
Total contributions o plan (from employers,participants, others, non cash contrinutions)2017-12-31$38,137
Value of total assets at end of year2017-12-31$3,194,920
Value of total assets at beginning of year2017-12-31$2,156,076
Total of administrative expenses incurred including professional, contract, advisory and management fees2017-12-31$720
Total interest from all sources2017-12-31$15
Total dividends received (eg from common stock, registered investment company shares)2017-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2017-12-31No
Was this plan covered by a fidelity bond2017-12-31Yes
Value of fidelity bond cover2017-12-31$1,000,000
If this is an individual account plan, was there a blackout period2017-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2017-12-31$0
Were there any nonexempt tranactions with any party-in-interest2017-12-31No
Value of other receiveables (less allowance for doubtful accounts) at end of year2017-12-31$272
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2017-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2017-12-31$300,385
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2017-12-31$317,142
Administrative expenses (other) incurred2017-12-31$720
Total non interest bearing cash at end of year2017-12-31$0
Total non interest bearing cash at beginning of year2017-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Value of net income/loss2017-12-31$1,055,551
Value of net assets at end of year (total assets less liabilities)2017-12-31$2,894,485
Value of net assets at beginning of year (total assets less liabilities)2017-12-31$1,838,934
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2017-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2017-12-31No
Were any leases to which the plan was party in default or uncollectible2017-12-31No
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2017-12-31$1,898
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2017-12-31$2,210
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2017-12-31$2,210
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2017-12-31$15
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2017-12-31No
Was there a failure to transmit to the plan any participant contributions2017-12-31No
Has the plan failed to provide any benefit when due under the plan2017-12-31No
Assets. Invements in employer securities at end of year2017-12-31$3,192,750
Assets. Invements in employer securities at beginning of year2017-12-31$2,153,250
Contributions received in cash from employer2017-12-31$38,137
Employer contributions (assets) at end of year2017-12-31$0
Employer contributions (assets) at beginning of year2017-12-31$616
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2017-12-31$12,152
Liabilities. Value of benefit claims payable at end of year2017-12-31$50
Liabilities. Value of benefit claims payable at beginning of year2017-12-31$0
Did the plan have assets held for investment2017-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2017-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2017-12-31No
Opinion of an independent qualified public accountant for this plan2017-12-31Unqualified
Accountancy firm name2017-12-31EKSH&H LLLP
Accountancy firm EIN2017-12-31461497033
2016 : FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2016 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2016-12-31$899,250
Total unrealized appreciation/depreciation of assets2016-12-31$899,250
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$317,142
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$333,425
Expenses. Interest paid2016-12-31$9,702
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022016-12-31$9,702
Total income from all sources (including contributions)2016-12-31$933,207
Total loss/gain on sale of assets2016-12-31$0
Total of all expenses incurred2016-12-31$17,055
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2016-12-31$7,353
Total contributions o plan (from employers,participants, others, non cash contrinutions)2016-12-31$33,955
Value of total assets at end of year2016-12-31$2,156,076
Value of total assets at beginning of year2016-12-31$1,256,207
Total of administrative expenses incurred including professional, contract, advisory and management fees2016-12-31$0
Total interest from all sources2016-12-31$2
Total dividends received (eg from common stock, registered investment company shares)2016-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2016-12-31No
Was this plan covered by a fidelity bond2016-12-31Yes
Value of fidelity bond cover2016-12-31$1,000,000
If this is an individual account plan, was there a blackout period2016-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-12-31$0
Were there any nonexempt tranactions with any party-in-interest2016-12-31No
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2016-12-31$317,142
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2016-12-31$333,425
Total non interest bearing cash at end of year2016-12-31$0
Total non interest bearing cash at beginning of year2016-12-31$2,207
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Value of net income/loss2016-12-31$916,152
Value of net assets at end of year (total assets less liabilities)2016-12-31$1,838,934
Value of net assets at beginning of year (total assets less liabilities)2016-12-31$922,782
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2016-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2016-12-31No
Were any leases to which the plan was party in default or uncollectible2016-12-31No
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2016-12-31$2,210
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2016-12-31$2
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2016-12-31No
Was there a failure to transmit to the plan any participant contributions2016-12-31No
Has the plan failed to provide any benefit when due under the plan2016-12-31No
Assets. Invements in employer securities at end of year2016-12-31$2,153,250
Assets. Invements in employer securities at beginning of year2016-12-31$1,254,000
Contributions received in cash from employer2016-12-31$33,955
Employer contributions (assets) at end of year2016-12-31$616
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2016-12-31$7,353
Did the plan have assets held for investment2016-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2016-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2016-12-31No
Opinion of an independent qualified public accountant for this plan2016-12-31Unqualified
Accountancy firm name2016-12-31EKSH&H LLLP
Accountancy firm EIN2016-12-31461497033
2015 : FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2015 401k financial data
Total plan liabilities at end of year2015-12-31$333,425
Total plan liabilities at beginning of year2015-12-31$349,464
Total income from all sources2015-12-31$916,986
Expenses. Total of all expenses incurred2015-12-31$9,947
Total plan assets at end of year2015-12-31$1,371,707
Total plan assets at beginning of year2015-12-31$480,707
Value of fidelity bond covering the plan2015-12-31$125,000
Expenses. Other expenses not covered elsewhere2015-12-31$9,947
Other income received2015-12-31$891,000
Net income (gross income less expenses)2015-12-31$907,039
Net plan assets at end of year (total assets less liabilities)2015-12-31$1,038,282
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$131,243
Assets. Value of employer securities2015-12-31$1,369,500
Total contributions received or receivable from employer(s)2015-12-31$25,986
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-12-31$0
2014 : FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2014 401k financial data
Total plan liabilities at end of year2014-12-31$349,464
Total income from all sources2014-12-31$132,678
Expenses. Total of all expenses incurred2014-12-31$1,435
Total plan assets at end of year2014-12-31$480,707
Expenses. Other expenses not covered elsewhere2014-12-31$1,435
Other income received2014-12-31$78,500
Net income (gross income less expenses)2014-12-31$131,243
Net plan assets at end of year (total assets less liabilities)2014-12-31$131,243
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$0
Assets. Value of employer securities2014-12-31$478,500
Total contributions received or receivable from employer(s)2014-12-31$54,178
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2014-12-31$0

Form 5500 Responses for FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN

2022: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedYes
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedNo
2018-01-01This submission is the final filingNo
2018-01-01This return/report is a short plan year return/report (less than 12 months)No
2018-01-01Plan is a collectively bargained planNo
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
2017-01-01This submission is the final filingNo
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planNo
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Submission has been amendedNo
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP 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 filingNo
2015-01-01This return/report is a short plan year return/report (less than 12 months)No
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes
2014: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01First time form 5500 has been submittedYes
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
2012: FREEDOM INDUSTRIES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01First time form 5500 has been submittedYes
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 is a collectively bargained planNo
2012-01-01Plan funding arrangement – InsuranceYes
2012-01-01Plan benefit arrangement – InsuranceYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number1017679
Policy instance 1
Insurance contract or identification number1017679
Number of Individuals Covered167
Insurance policy start date2012-04-01
Insurance policy end date2013-03-31
Total amount of commissions paid to insurance brokerUSD $8,723
Total amount of fees paid to insurance companyUSD $0
Dental Insurance Welfare BenefitYes
Life Insurance Welfare BenefitYes
Temporary Disability Insurance Welfare BenefitYes
Long Term Disability Insurance Welfare BenefitYes
Welfare Benefit Premiums Paid to CarrierUSD $107,655
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $8,723
Amount paid for insurance broker fees0
Additional information about fees paid to insurance broker0
Insurance broker organization code?3
Insurance broker nameSIA STALLINGS INS GROUP LLC

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