ESOP · DOL Form 5500 · 2024

Spence Brothers ESOP

Data updated 2026-08-25

$11M
Total assets Small plan by assets
56
Participants Small participant base
57th
Percentile by assets National rank
$188,993
Avg per participant Above avg balance/head
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Official DOL plan name: Spence Brothers Employee Stock Ownership Plan · Sponsored by Spence Brothers · Michigan · Construction

$11M in assets, 56 participants

Spence Brothers's Spence Brothers Employee Stock Ownership Plan reported $11M in total assets and 56 participants in its 2024 DOL Form 5500 filing, ranking in the 57th 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.

  • #4,995 in Construction (9,039 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 $11M / 56 participants.

#4,995
in Construction (9,039 peers)
+80.1%
assets growth YoY

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 2024 · DOL Form 5500

$10,583,581 Top 43% higher than 57% of 123,620 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 2024

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

Plan-year 2024 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 (56 participants) on this national headcount ladder.

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Spence Brothers Employee Stock Ownership Plan reported net income rose from $3M in the plan year 2023 filing to $6M in the plan year 2024 filing.
  • Spence Brothers Employee Stock Ownership Plan end-of-year assets rose from $6M in the plan year 2023 filing to $11M in the plan year 2024 filing.
  • Spence Brothers Employee Stock Ownership Plan reported participants rose from 45 in the plan year 2023 filing to 56 in the plan year 2024 filing.

See the national 2023→2024 release diff →

Plan-year Form 5500 strip

Filing strip 381055820 · Spence Brothers PY 2024 · ESOP

Spence Brothers Employee Stock Ownership Plan · $11M · 56 · 57th

  • BOOK $11M
  • BOOK 56
  • BOOK 57th
  • BOOK ESOP
  • BOOK near Usi Employee Stock Ownership Plan
  • BOOK ind #4995

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

Fitzwater Holding Group Employee Stock Ownership PlanFitzwater Holding Group Empl…$11MSpence Brothers Employee Stock Ownership PlanSpence Brothers Employee Sto…$11MUsi Employee Stock Ownership PlanUsi Employee Stock Ownership…$11MBandago Employee Stock Ownership PlanBandago Employee Stock Owner…$11MOptima Engineering, P.a. Employee Stock Ownership PlanOptima Engineering, P.a. Emp…$11M
End-of-year total assets ($M) among Spence Brothers Employee Stock Ownership Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2024.

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 (2024)

Total Assets (Beginning of Year)$6M
Net Assets (End of Year)$6M
Net Income$6M
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. -50005001000150020002500 -0.500.511.52 Total assets ($B) Participants Spence Brothers Employee Stock Ownership Plan, Total assets ($B): 0.010583581 · Participants: 56Spence Brothers Employee Stock Ownership PlanMcnaughton-Mckay Electric Company Employee Stock Ownership Plan, Total assets ($B): 1.551258212 · Participants: 1780Mcnaughton-Mckay Electric Company Employee Stock Ownership PlanThe Kendall Group Employee Stock Ownership Plan, Total assets ($B): 0.899849551 · Participants: 1936The Kendall Group Employee Stock Ownership PlanProject Worldwide, Inc. Employee Stock Ownership Plan, Total assets ($B): 0.452711138 · Participants: 1284Project Worldwide, Inc. Employee Stock Ownership PlanMotor City Electric Co. Employee Stock Ownership Plan, Total assets ($B): 0.410252812 · Participants: 218Motor City Electric Co. Employee Stock Ownership PlanLee Contracting, Inc. Employee Stock Ownership Plan, Total assets ($B): 0.250474411 · Participants: 565Lee Contracting, 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 Usi Employee Stock Ownership Plan in MA ($11M); by covered participants it is Admix, Inc. Employee Stock Ownership Plan in NH (56 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (56 participants); asset peers above are excluded.

DOL Form 5500 plan year 2024. 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 2024? ▼
Spence Brothers Employee Stock Ownership Plan surged - up 80.1% during 2024, from $6M to $11M. Reported net income was $6M.
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 Usi Employee Stock Ownership Plan in MA ($11M, 19 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 Admix, Inc. Employee Stock Ownership Plan in NH (56 participants, $10M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

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.