| Reconciliation of Financial Statements to Form 5500 |
The following is a reconciliation of notes receivable from participants and net assets available for benefits per the financial statements to the Plan’s Form 5500 Annual Return/Report of Employee Benefit Plan (Form 5500): | | | | | | | | | | | | | Notes Receivable from Participants | | Net Assets
Available for
Benefits | December 31, 2025 | | | | | Per the financial statements | $ | 6,776,452 | | | $ | 360,928,336 | | | Deemed distributions of participant loans | (27,693) | | | (27,693) | | | Per the Form 5500 | $ | 6,748,759 | | | $ | 360,900,643 | | | | | | December 31, 2024 | | | | | Per the financial statements | $ | 6,142,105 | | | $ | 324,825,802 | | | Deemed distributions of participant loans | (36,876) | | | (36,876) | | | Per the Form 5500 | $ | 6,105,229 | | | $ | 324,788,926 | |
The following is a reconciliation of investment income per the financial statements to the Form 5500: | | | | | | | | | | | | | Year Ended December 31, | | 2025 | | 2024 | | Investment income per the financial statements | $ | 55,275,063 | | | $ | 35,353,127 | | Interest income on notes receivable from participants per the financial statements | 526,342 | | | 451,141 | | | Investment income per the Form 5500 | $ | 55,801,405 | | | $ | 35,804,268 | |
The following is a reconciliation of benefit payments per the financial statements to the Form 5500: | | | | | | | | | | | | | Year Ended December 31, | | 2025 | | 2024 | | Benefit payments per the financial statements | $ | 34,659,530 | | | $ | 23,034,786 | | | Terminated deemed distributions of participant loans | (9,183) | | | — | | | Benefit payments per the Form 5500 | $ | 34,650,347 | | | $ | 23,034,786 | |
The following is a reconciliation of deemed distributions of participant loans per the financial statements to the Form 5500: | | | | | | | | | | | | | Year Ended December 31, | | 2025 | | 2024 | Deemed distributions of participant loans per the financial statements | $ | — | | | $ | — | | | Deemed distributions of participant loans | — | | | 9,183 | | | Deemed distributions of participant loans per the Form 5500 | $ | — | | | $ | 9,183 | |
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