ESOP · DOL Form 5500 · 2023

Merchants Financial Group, Inc. ESOP

Data updated 2026-08-25

$45M
Total assets Below avg plan size
422
Participants Below avg headcount
84th
Percentile by assets National rank
$107,569
Avg per participant Below avg balance/head
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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.

  • #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.

#754
in Management of Enterprises (1,137 peers)
-10.6%
assets change YoY
0.5×
vs typical plan assets (national mean)

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's outsized position by total assets

Merchants Financial Group, Inc. Employee Stock Ownership Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$45,394,098 Top 16% higher than 84% of 127,068 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 2023

Merchants Financial Group, Inc. Employee Stock Ownership Plan among mid-size filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Merchants Financial Group, Inc. Employee Stock Ownership Plan sits mid-pack in the medium band (422 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • 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 →

EBSA filing schedule strip

Filing strip 411504721 · Merchants Financial Group, Inc. PY 2023 · ESOP

Merchants Financial Group, Inc. Employee Stock Ownership Plan · $45M · 422 · 84th

  • PHOTO $45M
  • IND 422
  • EOY 84th
  • 5500 ESOP
  • ASSETS near Central Milling Employee Stock Ownership Plan and Trust
  • PCT ind #754

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 Minnesota →

Merchants Financial Group, Inc. Employee Stock Ownership Plan in the asset neighbourhood

De Corp. Employee Stock Ownership PlanDe Corp. Employee Stock Owne…$45MMerchants Financial Group, Inc. Employee Stock Ownership PlanMerchants Financial Group, I…$45MCentral Milling Employee Stock Ownership Plan and TrustCentral Milling Employee Sto…$45MKoops, Inc. Employee Stock Ownership PlanKoops, Inc. Employee Stock O…$45MIrr Supply Centers, Inc. Employee Stock Ownership PlanIrr Supply Centers, Inc. Emp…$45M
End-of-year total assets ($M) among Merchants Financial Group, Inc. Employee Stock Ownership Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2023.

Minnesota filing particulars

Total Assets (Beginning of Year)$51M
Net Assets (End of Year)$38M
Net Income-$3M
Employer EIN411504721
Plan Effective Date2001-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Merchants Financial Group, Inc.)

Sponsor-wide plan assets over time

All Merchants Financial Group, Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$112M 9.854932183648703% vs 2022
2024 filing year
$100M$105M$110M$115M 202220232024 $102M $112M ▲ +9.9%
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 Scatter plot of 6 data points. -5000050001000015000 02004006008001000 Total assets ($M) Participants Merchants Financial Group, Inc. Employee Stock Ownership Plan, Total assets ($M): 45.394098 · Participants: 422Merchants Financial Group, Inc. Employee Stock Ownership PlanAndersen Corporation Employee Stock Ownership Plan, Total assets ($M): 899.073238 · Participants: 11644Andersen Corporation Employee Stock Ownership PlanKingdom Enterprises, Inc. Employee Stock Ownership Plan, Total assets ($M): 497.538965 · Participants: 789Kingdom Enterprises, Inc. Employee Stock Ownership PlanLandscape Structures, Inc. Employee Stock Ownership Plan and Trust, Total assets ($M): 432.374379 · Participants: 446Landscape Structures, Inc. Employee Stock Ownership Plan and TrustHormel Foods Corporation Joint Earnings Profit Sharing Trust, Total assets ($M): 431.874919 · Participants: 4575Hormel Foods Corporation Joint Earnings Profit Sharing TrustForce America Inc. Employee Stock Ownership Plan, Total assets ($M): 426.610266 · Participants: 412Force America Inc. Employee Stock Ownership Plan
Merchants Financial Group, Inc. Employee Stock Ownership Plan vs. nearby ESOP plans in Minnesota, assets vs. participants
Compare Merchants Financial Group, Inc. Employee Stock Ownership Plan side-by-side with 3 peers →

Merchants Financial Group, Inc. Employee Stock Ownership Plan's out-of-state ESOP peers by assets and headcount

Outside Minnesota, the nearest ESOP by assets is Central Milling Employee Stock Ownership Plan and Trust in UT ($45M); by covered participants it is Rancho Mesquite Casino, Inc. Employee Stock Ownership Plan in NV (422 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (422 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

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).
Which ESOP plans cover a similar participant headcount to Merchants Financial Group, Inc. Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by covered participants is Rancho Mesquite Casino, Inc. Employee Stock Ownership Plan in NV (422 participants, $146M in assets).

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.

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.