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PROSPECT RESOURCES, INC. 401(K) PLAN 401k Plan overview

Plan NamePROSPECT RESOURCES, INC. 401(K) PLAN
Plan identification number 001

PROSPECT RESOURCES, INC. 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • 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.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • 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

PROSPECT RESOURCES, INC. has sponsored the creation of one or more 401k plans.

Company Name:PROSPECT RESOURCES, INC.
Employer identification number (EIN):201486421
NAIC Classification:541990
NAIC Description:All Other Professional, Scientific, and Technical Services

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PROSPECT RESOURCES, INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01
0012022-01-01
0012021-01-01
0012020-01-01DR. ISAAC SHKOP2021-03-24
0012019-01-01DR. ISAAC SHKOP2020-03-25
0012018-01-01DR. ISAAC SHKOP2019-05-08
0012017-01-01DR. ISAAC SHKOP2018-05-31 DR. ISAAC SHKOP2018-05-31

Financial Data on PROSPECT RESOURCES, INC. 401(K) PLAN

Measure Date Value
2025 : PROSPECT RESOURCES, INC. 401(K) PLAN 2025 401k financial data
Total expenses incurred by plan in this plan year2025-10-097631
Net assets as of the end of the plan year2025-10-09445829
Total assets as of the beginning of the plan year2025-10-09352493
Value of plan covered by a fidelity bond2025-10-0940000
Participant contributions to plan in this plan year2025-10-0940459
Value of participant loans at end of plan year2025-10-0923805
Other income to plan in this plan year2025-10-0944878
Plan net income in this plan year2025-10-0993336
Net assets as of the end of the plan year2025-10-09445829
Net assets as of the beginning of the plan year2025-10-09352493
Employer contributions to plan in this plan year2025-10-0915630
Expensese paid to adminstrative service provicers from plan in this plan year2025-10-097631
2024 : PROSPECT RESOURCES, INC. 401(K) PLAN 2024 401k financial data
Total expenses incurred by plan in this plan year2024-06-116053
Net assets as of the end of the plan year2024-06-11352493
Total assets as of the beginning of the plan year2024-06-11248492
Value of plan covered by a fidelity bond2024-06-1140000
Participant contributions to plan in this plan year2024-06-1149616
Value of participant loans at end of plan year2024-06-1130402
Other income to plan in this plan year2024-06-1145003
Plan net income in this plan year2024-06-11104001
Net assets as of the end of the plan year2024-06-11352493
Net assets as of the beginning of the plan year2024-06-11248492
Employer contributions to plan in this plan year2024-06-1115435
Expensese paid to adminstrative service provicers from plan in this plan year2024-06-116053
2022 : PROSPECT RESOURCES, INC. 401(K) PLAN 2022 401k financial data
Total expenses incurred by plan in this plan year2022-07-284868
Net assets as of the end of the plan year2022-07-28254990
Total assets as of the beginning of the plan year2022-07-28174499
Participant contributions to plan in this plan year2022-07-2846679
Other income to plan in this plan year2022-07-2824857
Plan net income in this plan year2022-07-2880491
Net assets as of the end of the plan year2022-07-28254990
Net assets as of the beginning of the plan year2022-07-28174499
Employer contributions to plan in this plan year2022-07-2813823
Expensese paid to adminstrative service provicers from plan in this plan year2022-07-284868

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