ESOP · DOL Form 5500 · 2022

Spence Brothers ESOP

Data updated 2026-08-25

$4M
Total assets Small plan by assets
44
Participants Small participant base
47th
Percentile by assets National rank
$97,406
Avg per participant Below avg balance/head
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Official DOL plan name: Spence Brothers Employee Stock Ownership Plan · Sponsored by Spence Brothers · Michigan · Construction

$4M in assets, 44 participants

Spence Brothers's Spence Brothers Employee Stock Ownership Plan reported $4M in total assets and 44 participants in its 2022 DOL Form 5500 filing, ranking in the 47th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #4,606 in Construction (9,927 peers)

Spence Brothers multi-year trail

Spence Brothers's plans moved +146.9% in assets from 2022 to 2024; this filing shows Spence Brothers Employee Stock Ownership Plan at $4M / 44 participants.

#4,606
in Construction (9,927 peers)
+330.5%
assets growth YoY

The plan reported a net loss of $4M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Spence Brothers Employee Stock Ownership Plan's mid-pack asset rank among Construction and all filers

Spence Brothers Employee Stock Ownership Plan vs every filed plan by assets

End-of-year total assets · plan year 2022 · DOL Form 5500

$4,285,872 47th percentile higher than 47% of 139,123 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2022

Spence Brothers Employee Stock Ownership Plan among smaller filed plans by headcount

Plan-year 2022 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Spence Brothers Employee Stock Ownership Plan is a small filing (44 participants) on this national headcount ladder.

DOL schedule card

Filing strip 381055820 · Spence Brothers PY 2022 · ESOP

Spence Brothers Employee Stock Ownership Plan · $4M · 44 · 47th

  • VS-ST $4M
  • VS-ST 44
  • VS-ST 47th
  • VS-ST ESOP
  • VS-ST near Home Furniture Company of Lafayette, Inc. Employee Stock Ownership Plan
  • VS-ST ind #4606

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with What is an ESOP? → · Plans in Michigan →

Spence Brothers Employee Stock Ownership Plan in the asset neighbourhood

Spence Brothers Employee Stock Ownership PlanSpence Brothers Employee Sto…$4MHome Furniture Company of Lafayette, Inc. Employee Stock Ownership PlanHome Furniture Company of La…$4ML.R. Cowan Concrete Co., Inc Employee Stock Ownership PlanL.R. Cowan Concrete Co., Inc…$4MProvidence Engineering Employee Stock Ownership PlanProvidence Engineering Emplo…$4MHackett Publishing Company, Inc. ESOP & TrustHackett Publishing Company, …$4M
End-of-year total assets ($M) among Spence Brothers Employee Stock Ownership Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2022.

Spence Brothers multi-year asset trail

Sponsor-wide plan assets over time

All Spence Brothers plans reported in each filing year

Latest sponsor-wide plan assets
$11M 146.94113589953224% vs 2022
2024 filing year
$2M$4M$6M$8M$10M$12M 202220232024 $4.29M $10.6M ▲ +146.6%
Year Plans Participants Total Assets
2022 1 44 $4M
2023 1 45 $6M
2024 1 56 $11M

Spence Brothers filing trail (2022)

Total Assets (Beginning of Year)$995K
Net Assets (End of Year)-$3M
Net Income-$4M
Employer EIN381055820
Plan Effective Date2021-01-01
Filing StatusFILING RECEIVED

Nearby ESOP Plans in Michigan

Peer ESOP plans, same state, same plan type, ranked by total assets.

Spence Brothers Employee Stock Ownership Plan vs. nearby ESOP plans in Michigan, assets vs. participants Scatter plot of 6 data points. -5000500100015002000 -0.500.511.5 Total assets ($B) Participants Spence Brothers Employee Stock Ownership Plan, Total assets ($B): 0.004285872 · Participants: 44Spence Brothers Employee Stock Ownership PlanMcnaughton-Mckay Electric Company Employee Stock Ownership Plan, Total assets ($B): 1.052163391 · Participants: 1155Mcnaughton-Mckay Electric Company Employee Stock Ownership PlanThe Kendall Group Employee Stock Ownership Plan, Total assets ($B): 0.725583306 · Participants: 1817The Kendall Group Employee Stock Ownership PlanProject Worldwide, Inc. Employee Stock Ownership Plan, Total assets ($B): 0.394784403 · Participants: 977Project Worldwide, Inc. Employee Stock Ownership PlanMotor City Electric Co. Employee Stock Ownership Plan, Total assets ($B): 0.191093331 · Participants: 209Motor City Electric Co. Employee Stock Ownership PlanBandit Holding Company, Inc. Employee Stock Ownership Plan, Total assets ($B): 0.181896 · Participants: 591Bandit Holding Company, Inc. Employee Stock Ownership Plan
Spence Brothers Employee Stock Ownership Plan vs. nearby ESOP plans in Michigan, assets vs. participants
Compare Spence Brothers Employee Stock Ownership Plan side-by-side with 3 peers →

Spence Brothers Employee Stock Ownership Plan's out-of-state ESOP peers by assets and headcount

Outside Michigan, the nearest ESOP by assets is Home Furniture Company of Lafayette, Inc. Employee Stock Ownership Plan in LA ($4M); by covered participants it is Probank Austin Employee Stock Ownership Plan and Trust in KY (44 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (44 participants); asset peers above are excluded.

DOL Form 5500 plan year 2022. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Spence Brothers Employee Stock Ownership Plan assets move in 2022? ▼
Spence Brothers Employee Stock Ownership Plan surged - up 330.5% during 2022, from $995K to $4M. Reported net income was -$4M.
How have Spence Brothers plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Spence Brothers's sponsor-wide assets grew 146.9%, from $4M to $11M.
Which ESOP plans are similar in size to Spence Brothers Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by assets is Home Furniture Company of Lafayette, Inc. Employee Stock Ownership Plan in LA ($4M, 261 participants).
Which ESOP plans cover a similar participant headcount to Spence Brothers Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by covered participants is Probank Austin Employee Stock Ownership Plan and Trust in KY (44 participants, N/A in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2022.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 381055820.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.