Faith Academy of Mobile Inc. 403b Plan

Profit Sharing · DOL Form 5500 · 2024

What the Filing Says About Faith Academy of Mobile Inc. 403b Plan

Faith Academy of Mobile Inc. 403b Plan is a Profit Sharing retirement plan sponsored by Faith Academy of Mobile, headquartered in Alabama. According to the U.S. Department of Labor's 2024 Form 5500 filing, the plan reports $8M in total end-of-year assets and covers 145 participants across the Educational Services industry. The sponsor's EIN on file with the U.S. Department of Labor is 581898405, and the plan has been effective since 1990-08-01. Its filing status is currently FILING RECEIVED.

Year over year, total assets grew at a solid clip from $7M at the beginning of 2024 to $8M at year-end - up 11.2%. Net assets (after liabilities) closed the year at $8M, with reported net income of $779K driven by investment returns, contributions received, and benefit payments during the period. These figures reflect what the plan administrator certified on Schedule H or Schedule I of the Form 5500 annual return and can be compared against 2 prior plan-year filings from the same sponsor shown below.

Across the 3 plan years Faith Academy of Mobile has on file with PlainRetire (2022-2024), sponsor-wide plan assets have moved from $6M to $8M, a gain of 25.4%, while reported participants moved from 131 to 145 (+10.7%). The strongest year on file by total sponsor assets was 2024 at $8M; the softest was 2022 at $6M. Year-by-year, sponsor-wide filings show: 2022 - $6M in assets across 1 plan covering 131 participants; 2023 - $7M in assets across 1 plan covering 143 participants; 2024 - $8M in assets across 1 plan covering 145 participants.

Asset totals and participant counts reflect a single plan year snapshot and can change materially with market conditions, plan mergers, or workforce changes. Fields such as "net income" include both realized investment performance and contribution/distribution flows, a single-year figure does not by itself indicate plan health or participant outcomes. This page summarizes public DOL disclosures for research and educational purposes only and is not retirement, tax, legal, or financial advice. Before making decisions about your own retirement benefits or evaluating an employer's plan, verify the underlying filing directly via the DOL EFAST2 system and consult a qualified professional.

How the percentile is calculated: we count every plan that filed a 2024 Form 5500 with a reported end-of-year asset figure (116,472 plans), rank Faith Academy of Mobile Inc. 403b Plan against all of them by total assets, and report the share of those plans it outranks. A plan reporting no asset figure for the year is excluded from the ranking rather than assumed to be zero.