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BEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN 401k Plan overview

Plan NameBEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN
Plan identification number 002

BEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • 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

401k Sponsoring company profile

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

Company Name:BEEMAC, INC.
Employer identification number (EIN):841952858
NAIC Classification:484110
NAIC Description:General Freight Trucking, Local

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BEEMAC, 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
0022019-01-01

Plan Statistics for BEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN

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

Measure Date Value
2022: BEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01116
Total number of active participants reported on line 7a of the Form 55002022-01-0174
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0153
Total of all active and inactive participants2022-01-01127
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01127
Number of participants with account balances2022-01-01125
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-019
2021: BEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01113
Total number of active participants reported on line 7a of the Form 55002021-01-0165
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0144
Total of all active and inactive participants2021-01-01109
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01109
Number of participants with account balances2021-01-01108
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-019
2020: BEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-01126
Total number of active participants reported on line 7a of the Form 55002020-01-0162
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-0144
Total of all active and inactive participants2020-01-01106
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-01106
Number of participants with account balances2020-01-01104
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-0148
2019: BEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-0173
Total number of active participants reported on line 7a of the Form 55002019-01-01126
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-010
Total of all active and inactive participants2019-01-01126
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-01126
Number of participants with account balances2019-01-01121
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010

Financial Data on BEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2022 : BEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2022 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2022-12-31$2,420,000
Total unrealized appreciation/depreciation of assets2022-12-31$2,420,000
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$31,787,117
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$32,481,605
Expenses. Interest paid2022-12-31$756,821
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$756,821
Total income from all sources (including contributions)2022-12-31$3,895,155
Total of all expenses incurred2022-12-31$780,667
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$23,846
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$1,475,155
Value of total assets at end of year2022-12-31$24,820,100
Value of total assets at beginning of year2022-12-31$22,400,100
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$500,000
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
Total non interest bearing cash at end of year2022-12-31$100
Total non interest bearing cash at beginning of year2022-12-31$100
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$3,114,488
Value of net assets at end of year (total assets less liabilities)2022-12-31$-6,967,017
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$-10,081,505
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
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
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$24,820,000
Assets. Invements in employer securities at beginning of year2022-12-31$22,400,000
Contributions received in cash from employer2022-12-31$1,475,155
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$23,846
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
Liabilities. Value of acquisition indebtedness at end of year2022-12-31$31,787,117
Liabilities. Value of acquisition indebtedness at beginning of year2022-12-31$32,481,605
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31COHEN & COMPANY, LTD.
Accountancy firm EIN2022-12-31341912961
2021 : BEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2021 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2021-12-31$2,840,000
Total unrealized appreciation/depreciation of assets2021-12-31$2,840,000
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$32,481,605
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$33,160,281
Expenses. Interest paid2021-12-31$772,634
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$772,634
Total income from all sources (including contributions)2021-12-31$4,325,230
Total of all expenses incurred2021-12-31$806,454
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$33,820
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$1,485,230
Value of total assets at end of year2021-12-31$22,400,100
Value of total assets at beginning of year2021-12-31$19,560,000
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$500,000
If this is an individual account plan, was there a blackout period2021-12-31No
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Total non interest bearing cash at end of year2021-12-31$100
Total non interest bearing cash at beginning of year2021-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$3,518,776
Value of net assets at end of year (total assets less liabilities)2021-12-31$-10,081,505
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$-13,600,281
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
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$22,400,000
Assets. Invements in employer securities at beginning of year2021-12-31$19,560,000
Contributions received in cash from employer2021-12-31$1,485,230
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$33,820
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
Liabilities. Value of acquisition indebtedness at end of year2021-12-31$32,481,605
Liabilities. Value of acquisition indebtedness at beginning of year2021-12-31$33,160,281
Opinion of an independent qualified public accountant for this plan2021-12-31Unqualified
Accountancy firm name2021-12-31COHEN & COMPANY, LTD.
Accountancy firm EIN2021-12-31341912961
2020 : BEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2020 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2020-12-31$-2,890,000
Total unrealized appreciation/depreciation of assets2020-12-31$-2,890,000
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$33,160,281
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$33,823,503
Expenses. Interest paid2020-12-31$788,088
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$788,088
Total income from all sources (including contributions)2020-12-31$-1,438,690
Total of all expenses incurred2020-12-31$788,088
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$1,451,310
Value of total assets at end of year2020-12-31$19,560,000
Value of total assets at beginning of year2020-12-31$22,450,000
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$500,000
If this is an individual account plan, was there a blackout period2020-12-31No
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$-2,226,778
Value of net assets at end of year (total assets less liabilities)2020-12-31$-13,600,281
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$-11,373,503
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
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$19,560,000
Assets. Invements in employer securities at beginning of year2020-12-31$22,450,000
Contributions received in cash from employer2020-12-31$1,451,310
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
Liabilities. Value of acquisition indebtedness at end of year2020-12-31$33,160,281
Liabilities. Value of acquisition indebtedness at beginning of year2020-12-31$33,823,503
Opinion of an independent qualified public accountant for this plan2020-12-31Unqualified
Accountancy firm name2020-12-31COHEN & COMPANY, LTD.
Accountancy firm EIN2020-12-31341912961
2019 : BEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2019 401k financial data
Total plan liabilities at end of year2019-12-31$33,823,503
Total plan liabilities at beginning of year2019-12-31$0
Total income from all sources2019-12-31$1,451,309
Expenses. Total of all expenses incurred2019-12-31$274,812
Total plan assets at end of year2019-12-31$35,000,000
Total plan assets at beginning of year2019-12-31$0
Value of fidelity bond covering the plan2019-12-31$120,000
Expenses. Other expenses not covered elsewhere2019-12-31$274,812
Other income received2019-12-31$-12,550,000
Net income (gross income less expenses)2019-12-31$1,176,497
Net plan assets at end of year (total assets less liabilities)2019-12-31$1,176,497
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$0
Assets. Value of employer securities2019-12-31$35,000,000
Total contributions received or receivable from employer(s)2019-12-31$1,451,309

Form 5500 Responses for BEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN

2022: BEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: BEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: BEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: BEEMAC, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01First time form 5500 has been submittedYes
2019-01-01Submission has been amendedYes
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes

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