ESOP · DOL Form 5500 · 2023

Minnesota Elevator, Inc ESOP

Data updated 2026-08-11

$52M
Total assets: 156
Participants: 86th
Percentile by assets: $331,531
Avg per participant

Official DOL plan name: Minnesota Elevator, Inc. Employee Stock Ownership Plan · Sponsored by Minnesota Elevator, Inc · Minnesota · Other Services

$52M in assets, 156 participants

Minnesota Elevator, Inc's Minnesota Elevator, Inc. Employee Stock Ownership Plan reported $52M in total assets and 156 participants in its 2023 DOL Form 5500 filing, ranking in the 86th 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.

86th percentile by assets (of 127,072 plans)
#7,355 in Other Services (7,857 peers)

Coverage in Minnesota

Minnesota Elevator, Inc. Employee Stock Ownership Plan covers 156 participants in Minnesota, about 14% of the average Minnesota filer (state average ~1,126 per filing). Assets: $52M.

$52M
total plan assets (2023 EOY): 156
covered participants: 86th
percentile by assets (of 127,072 plans): $331,531
avg assets per participant

Minnesota Elevator, Inc. Employee Stock Ownership Plan reported net income rose from $3M in the plan year 2022 filing to $18M in the plan year 2023 filing.
Minnesota Elevator, Inc. Employee Stock Ownership Plan end-of-year assets rose from $29M in the plan year 2022 filing to $52M in the plan year 2023 filing.
Minnesota Elevator, Inc. Employee Stock Ownership Plan reported participants fell from 164 in the plan year 2022 filing to 156 in the plan year 2023 filing.

See the national 2022→2023 release diff →

State

Minnesota

Industry

Other Services

Participants vs Minnesota filers

In Minnesota, the average filing covers about 1,126 participants across 2,865 plans. Minnesota Elevator, Inc. Employee Stock Ownership Plan reports 156 participants - about 14% of that state average ($52M EOY assets).

Minnesota filing particulars

Total Assets (Beginning of Year)	$29M
Net Assets (End of Year)	$45M
Net Income	$18M
Employer EIN	410972538
Plan Effective Date	2002-07-01
Filing Status	FILING RECEIVED

Sponsor Plan History (Minnesota Elevator, Inc)

Total plan assets by year, all Minnesota Elevator, Inc plans on file

Year	Plans	Participants	Total Assets
2022	2	451	$56M
2023	2	454	$83M
2024	2	462	$107M

Nearby ESOP Plans in Minnesota

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

Minnesota Elevator, Inc. Employee Stock Ownership Plan vs. nearby ESOP plans in Minnesota, assets vs. participants

Andersen Corporation Employee Stock Ownership Plan $899M · 11,644
Kingdom Enterprises, Inc. Employee Stock Ownership Plan $498M · 789
Landscape Structures, Inc. Employee Stock Ownership Plan and Trust $432M · 446
Hormel Foods Corporation Joint Earnings Profit Sharing Trust $432M · 4,575
Force America Inc. Employee Stock Ownership Plan $427M · 412

Compare Minnesota Elevator, Inc. Employee Stock … side-by-side with 3 peers →

Similar-Sized ESOP Plans Nationally

ESOP plans in other states closest to Minnesota Elevator, Inc. Employee Stock Ownership Plan by total assets, not by location.

Fishback Financial Corporation Employee Stock Ownership Plan (SD) $52M · 713
Lockheed Martin Corporation Basic Benefit Plan for Hourly Employees (MD) $52M · 10,489
Concrete Supply Co. Inc. Employee Stock Ownership Plan (GA) $52M · 219
American Equity Investment Employee Stock Ownership Plan (IA) $52M · 726

Frequently Asked Questions

How did Minnesota Elevator, Inc. Employee Stock Ownership Plan assets move in 2023? ▼

Minnesota Elevator, Inc. Employee Stock Ownership Plan surged - up 80.7% during 2023, from $29M to $52M. Reported net income was $18M.

How have Minnesota Elevator, Inc plan assets changed over time? ▼

Across 3 plan years on file (2022-2024), Minnesota Elevator, Inc's sponsor-wide assets grew 93.0%, from $56M to $107M.

Where does Minnesota Elevator, Inc. Employee Stock Ownership Plan rank by assets among Form 5500 filers? ▼

Minnesota Elevator, Inc. Employee Stock Ownership Plan ranks in the 86th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top quartile of all filed plans by assets).

Which ESOP plans are similar in size to Minnesota Elevator, Inc. Employee Stock Ownership Plan? ▼

Among ESOP plans in other states, the closest by assets is Fishback Financial Corporation Employee Stock Ownership Plan in SD ($52M, 713 participants).

Next read for Minnesota Elevator, Inc. Employee Stock …

Filing takeaways

Ways to act on Minnesota Elevator, Inc. Employee Stock Ownership Plan's numbers.

By total assets, Minnesota Elevator, Inc. Employee Stock Ownership Plan ranks in the top quartile of all filed plans by assets. See the largest plans
Compare it side-by-side against 3 similar ESOP plans in Minnesota. Compare plans
Minnesota Elevator, Inc's sponsor-wide assets have grown 93.0% since 2022 across 3 plan years on file. More Other Services plans

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 410972538.