ESOP · DOL Form 5500 · 2023

Merchants Financial Group, Inc. ESOP

Data updated 2026-08-11

$45M
Total assets: 422
Participants: 84th
Percentile by assets: $107,569
Avg per participant

Official DOL plan name: Merchants Financial Group, Inc. Employee Stock Ownership Plan · Sponsored by Merchants Financial Group, Inc. · Minnesota · Management of Enterprises

$45M in assets, 422 participants

Merchants Financial Group, Inc.'s Merchants Financial Group, Inc. Employee Stock Ownership Plan reported $45M in total assets and 422 participants in its 2023 DOL Form 5500 filing, ranking in the 84th 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.

84th percentile by assets (of 127,072 plans)
#754 in Management of Enterprises (1,137 peers)

Coverage in Minnesota

Merchants Financial Group, Inc. Employee Stock Ownership Plan covers 422 participants in Minnesota, about 37% of the average Minnesota filer (state average ~1,126 per filing). Assets: $45M.

$45M
total plan assets (2023 EOY): 422
covered participants: 84th
percentile by assets (of 127,072 plans): $107,569
avg assets per participant

The plan reported a net loss of $3M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Merchants Financial Group, Inc. Employee Stock Ownership Plan reported net income fell from -$3M in the plan year 2022 filing to -$3M in the plan year 2023 filing.
Merchants Financial Group, Inc. Employee Stock Ownership Plan end-of-year assets fell from $51M in the plan year 2022 filing to $45M in the plan year 2023 filing.

See the national 2022→2023 release diff →

State

Minnesota

Industry

Management of Enterprises

Participants vs Minnesota filers

In Minnesota, the average filing covers about 1,126 participants across 2,865 plans. Merchants Financial Group, Inc. Employee Stock Ownership Plan reports 422 participants - about 37% of that state average ($45M EOY assets).

Minnesota filing particulars

Total Assets (Beginning of Year)	$51M
Net Assets (End of Year)	$38M
Net Income	-$3M
Employer EIN	411504721
Plan Effective Date	2001-01-01
Filing Status	FILING RECEIVED

Sponsor Plan History (Merchants Financial Group, Inc.)

Total plan assets by year, all Merchants Financial Group, Inc. plans on file

Year	Plans	Participants	Total Assets
2022	2	875	$102M
2023	2	873	$105M
2024	2	833	$112M

Nearby ESOP Plans in Minnesota

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

Merchants Financial Group, 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 Merchants Financial Group, Inc. Employee… side-by-side with 3 peers →

Similar-Sized ESOP Plans Nationally

ESOP plans in other states closest to Merchants Financial Group, Inc. Employee Stock Ownership Plan by total assets, not by location.

Central Milling Employee Stock Ownership Plan and Trust (UT) $45M · 111
Koops, Inc. Employee Stock Ownership Plan (MI) $45M · 220
Irr Supply Centers, Inc. Employee Stock Ownership Plan (NY) $45M · 187
De Corp. Employee Stock Ownership Plan (TX) $45M · 189

Frequently Asked Questions

How did Merchants Financial Group, Inc. Employee Stock Ownership Plan assets move in 2023? ▼

Merchants Financial Group, Inc. Employee Stock Ownership Plan pulled back noticeably - down 10.6% during 2023, from $51M to $45M. Reported net income was -$3M.

How have Merchants Financial Group, Inc. plan assets changed over time? ▼

Across 3 plan years on file (2022-2024), Merchants Financial Group, Inc.'s sponsor-wide assets grew 9.9%, from $102M to $112M.

Where does Merchants Financial Group, Inc. Employee Stock Ownership Plan rank by assets among Form 5500 filers? ▼

Merchants Financial Group, Inc. Employee Stock Ownership Plan ranks in the 84th 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 Merchants Financial Group, Inc. Employee Stock Ownership Plan? ▼

Among ESOP plans in other states, the closest by assets is Central Milling Employee Stock Ownership Plan and Trust in UT ($45M, 111 participants).

Next read for Merchants Financial Group, Inc. Employee…

Filing takeaways

Ways to act on Merchants Financial Group, Inc. Employee Stock Ownership Plan's numbers.

By total assets, Merchants Financial Group, 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
Merchants Financial Group, Inc.'s sponsor-wide assets have grown 9.9% since 2022 across 3 plan years on file. More Management of Enterprises 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 411504721.