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REVEL IT, INC. 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameREVEL IT, INC. 401(K) PROFIT SHARING PLAN
Plan identification number 001

REVEL IT, INC. 401(K) PROFIT SHARING 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.
  • 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.
  • 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

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

Company Name:REVEL IT, INC.
Employer identification number (EIN):843188007
NAIC Classification:541511
NAIC Description:Custom Computer Programming Services

Form 5500 Filing Information

Submission information for form 5500 for 401k plan REVEL IT, INC. 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01RANDY DEAN2023-09-29 RANDY DEAN2023-09-29
0012021-01-01RANDY DEAN2022-10-07 RANDY DEAN2022-10-07
0012020-01-01RANDY DEAN2021-10-13 RANDY DEAN2021-10-13

Plan Statistics for REVEL IT, INC. 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for REVEL IT, INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2022: REVEL IT, INC. 401(K) PROFIT SHARING PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01213
Total number of active participants reported on line 7a of the Form 55002022-01-01141
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0152
Total of all active and inactive participants2022-01-01193
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01193
Number of participants with account balances2022-01-01122
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: REVEL IT, INC. 401(K) PROFIT SHARING PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01206
Total number of active participants reported on line 7a of the Form 55002021-01-01156
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0143
Total of all active and inactive participants2021-01-01199
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01199
Number of participants with account balances2021-01-01115
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2020: REVEL IT, INC. 401(K) PROFIT SHARING PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-01212
Total number of active participants reported on line 7a of the Form 55002020-01-01158
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-0128
Total of all active and inactive participants2020-01-01186
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-01186
Number of participants with account balances2020-01-01105
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-011

Financial Data on REVEL IT, INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2022 : REVEL IT, INC. 401(K) PROFIT SHARING PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total income from all sources (including contributions)2022-12-31$519,412
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$608,119
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$571,465
Expenses. Certain deemed distributions of participant loans2022-12-31$11,275
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$1,201,986
Value of total assets at end of year2022-12-31$4,124,663
Value of total assets at beginning of year2022-12-31$4,213,370
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$25,379
Total interest from all sources2022-12-31$3,170
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$112,087
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2022-12-31$112,087
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
Contributions received from participants2022-12-31$901,617
Participant contributions at end of year2022-12-31$38,292
Participant contributions at beginning of year2022-12-31$61,359
Participant contributions at beginning of year2022-12-31$250
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$15,109
Other income not declared elsewhere2022-12-31$0
Administrative expenses (other) incurred2022-12-31$25,379
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-88,707
Value of net assets at end of year (total assets less liabilities)2022-12-31$4,124,663
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$4,213,370
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 in registered invesment companies (eg mutual funds) at end of year2022-12-31$4,086,371
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$4,151,761
Interest on participant loans2022-12-31$3,170
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-797,831
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
Contributions received in cash from employer2022-12-31$285,260
Employer contributions (assets) at beginning of year2022-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$571,465
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 name2022-12-31GBQ PARTNERS, LLC
Accountancy firm EIN2022-12-31202122306
2021 : REVEL IT, INC. 401(K) PROFIT SHARING PLAN 2021 401k financial data
Total unrealized appreciation/depreciation of assets2021-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total income from all sources (including contributions)2021-12-31$2,174,531
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$731,435
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$695,776
Expenses. Certain deemed distributions of participant loans2021-12-31$24,254
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$1,783,334
Value of total assets at end of year2021-12-31$4,213,370
Value of total assets at beginning of year2021-12-31$2,770,274
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$11,405
Total interest from all sources2021-12-31$4,595
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$185,273
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2021-12-31$185,273
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 period2021-12-31Yes
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$766,759
Participant contributions at end of year2021-12-31$61,359
Participant contributions at beginning of year2021-12-31$99,424
Participant contributions at end of year2021-12-31$250
Participant contributions at beginning of year2021-12-31$757
Income. Received or receivable in cash from other sources (including rollovers)2021-12-31$749,897
Other income not declared elsewhere2021-12-31$3,792
Administrative expenses (other) incurred2021-12-31$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$1,443,096
Value of net assets at end of year (total assets less liabilities)2021-12-31$4,213,370
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$2,770,274
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
Investment advisory and management fees2021-12-31$11,405
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-12-31$4,151,761
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$2,665,420
Interest on participant loans2021-12-31$4,595
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$197,537
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
Contributions received in cash from employer2021-12-31$266,678
Employer contributions (assets) at end of year2021-12-31$0
Employer contributions (assets) at beginning of year2021-12-31$4,673
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$695,776
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32021-12-31Yes
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 name2021-12-31GBQ PARTNERS, LLC
Accountancy firm EIN2021-12-31202122306
2020 : REVEL IT, INC. 401(K) PROFIT SHARING PLAN 2020 401k financial data
Total unrealized appreciation/depreciation of assets2020-12-31$0
Total transfer of assets to this plan2020-12-31$49,485
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$0
Total income from all sources (including contributions)2020-12-31$2,791,337
Total loss/gain on sale of assets2020-12-31$0
Total of all expenses incurred2020-12-31$70,548
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$56,190
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$2,375,852
Value of total assets at end of year2020-12-31$2,770,274
Value of total assets at beginning of year2020-12-31$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$14,358
Total interest from all sources2020-12-31$3,500
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$500,000
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
Contributions received from participants2020-12-31$712,072
Participant contributions at end of year2020-12-31$99,424
Participant contributions at end of year2020-12-31$757
Income. Received or receivable in cash from other sources (including rollovers)2020-12-31$1,411,888
Administrative expenses (other) incurred2020-12-31$14,358
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$2,720,789
Value of net assets at end of year (total assets less liabilities)2020-12-31$2,770,274
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$0
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 in registered invesment companies (eg mutual funds) at end of year2020-12-31$2,665,420
Interest on participant loans2020-12-31$3,500
Net investment gain/loss from registered investment companies (e.g. mutual funds)2020-12-31$411,985
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 contributions2020-12-31Yes
Has the plan failed to provide any benefit when due under the plan2020-12-31No
Contributions received in cash from employer2020-12-31$251,892
Employer contributions (assets) at end of year2020-12-31$4,673
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$56,190
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 plan2020-12-31Disclaimer
Accountancy firm name2020-12-31GBQ PARTNERS, LLC
Accountancy firm EIN2020-12-31202122306

Form 5500 Responses for REVEL IT, INC. 401(K) PROFIT SHARING PLAN

2022: REVEL IT, INC. 401(K) PROFIT SHARING PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
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 – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: REVEL IT, INC. 401(K) PROFIT SHARING 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 – InsuranceYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: REVEL IT, INC. 401(K) PROFIT SHARING 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 – InsuranceYes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

TRANSAMERICA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 86231 )
Policy contract number513812-000
Policy instance 1
Insurance contract or identification number513812-000
Number of Individuals Covered123
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $3,314
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Commission paid to Insurance BrokerUSD $0
Amount paid for insurance broker fees3314
Insurance broker organization code?5
NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )
Policy contract numberGAP-CP-LYOT
Policy instance 1
Insurance contract or identification numberGAP-CP-LYOT
Number of Individuals Covered0
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )
Policy contract numberGAP-CP-LYOT
Policy instance 1
Insurance contract or identification numberGAP-CP-LYOT
Number of Individuals Covered105
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $0

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