☒ |
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the transition period from | to |
A. |
Full title of the plan and the address of the plan, if different from that of the issuer named below:
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B. |
Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
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Page
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1
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Financial Statements
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3
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4
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5
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Supplemental Schedule
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14
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16
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2022
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2021
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|||||||
Assets
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||||||||
Investments
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||||||||
Common/collective trust funds
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$
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2,493,701
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$
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1,629,291
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||||
Registered investment companies
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138,568,514
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169,206,311
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||||||
Employer securities
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8,375,708
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7,694,168
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||||||
Net Assets Available for Benefits
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$
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149,437,923
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$
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178,529,770
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2022
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2021
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|||||||
Investment (Loss) Income
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||||||||
Dividends and Interest
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$
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2,298,514
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$
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4,183,030
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||||
Net (Depreciation) Appreciation in Fair Value of Investments
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(29,996,586
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)
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19,065,239
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|||||
(27,698,072
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)
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23,248,269
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||||||
Contributions
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||||||||
Employer
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3,494,828
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3,565,268
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||||||
Participants
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6,892,877
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6,631,365
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||||||
Rollover
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773,106
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658,245
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||||||
11,160,811
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10,854,878
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|||||||
Total (Reductions) Additions
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(16,537,261
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)
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34,103,147
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|||||
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||||||||
Benefits Paid to Participants
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(12,344,891
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)
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(14,377,638
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)
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Administrative Expenses
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(209,695
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)
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(166,136
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)
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Total Deductions
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(12,554,586
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)
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(14,543,774
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)
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||||
Net (Decrease) Increase
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(29,091,847
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)
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19,559,373
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|||||
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||||||||
Net Assets Available for Benefits | ||||||||
Beginning of Year
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178,529,770
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158,970,397
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||||||
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||||||||
End of Year
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$
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149,437,923
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$
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178,529,770
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1.
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DESCRIPTION OF PLAN (Cont’d)
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1.
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DESCRIPTION OF PLAN (Cont’d)
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2.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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2.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont’d)
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3.
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COMMON/COLLECTIVE TRUST FUND
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3.
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COMMON/COLLECTIVE TRUST FUND (Cont’d)
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4.
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FAIR VALUE MEASUREMENTS
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4.
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FAIR VALUE MEASUREMENTS(Cont’d)
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Fair Value Measurements Using
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||||||||
Total
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Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
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|||||||
2022
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||||||||
Registered Investment Companies
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$
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138,568,514
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$
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138,568,514
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||||
Employer Securities
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8,375,708
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8,375,708
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||||||
Total investments at fair value
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146,944,222
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146,944,222
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||||||
Common/Collective Trust Fund measured at net asset value*
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2,493,701
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—
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||||||
Total investments
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$
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149,437,923
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$
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146,944,222
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Fair Value Measurements Using
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||||||||
Total
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Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
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|||||||
2021
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||||||||
Registered Investment Companies
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$
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169,206,311
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$
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169,206,311
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Employer Securities
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7,694,168
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7,694,168
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||||||
Total investments at fair value
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176,900,479
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176,900,479
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||||||
Common/Collective Trust Fund measured at net asset value*
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1,629,291
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—
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||||||
Total investments
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$
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178,529,770
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$
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176,900,479
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5.
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TAX STATUS
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6.
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RELATED PARTY AND PARTY-IN-INTEREST TRANSACTIONS
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7.
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ADMINISTRATION OF PLAN ASSETS
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8.
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PLAN TERMINATION
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9.
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RISKS AND UNCERTAINTIES
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10.
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SUBSEQUENT EVENTS
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(b)
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(c)
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(d)
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(e)
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||||||||
(a) |
Identity of issue, borrower, lessor, or similar party
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Description of investment including
maturity date, rate of interest, collateral,
par of maturity value***
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Current
Value
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|||||||||
Galliard Stable Return M
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45,722
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Common/Collective Trust Units
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**
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$
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2,493,701
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|||||||
Total common/collective trust fund
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$
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2,493,701
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||||||||||
T. Rowe Price Capital Appreciation Fund
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136,719
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Registered Investment Companies
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**
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$
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4,064,654
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|||||||
PIMCO Total Return Fund
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524,752
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Registered Investment Companies
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**
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4,439,401
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||||||||
Columbia Contrarian Core Fund Class R4
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168,681
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Registered Investment Companies
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**
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4,252,449
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||||||||
American Funds New Perspective Fund R4 Class
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79,582
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Registered Investment Companies
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**
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3,699,764
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||||||||
T. Rowe Price Small Cap Stock Fund
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145,400
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Registered Investment Companies
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**
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7,464,839
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||||||||
Putnam Dynamic Asset Allocation Growth Fund
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796,956
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Registered Investment Companies
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**
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12,631,752
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||||||||
Putnam Dynamic Asset Allocation Balanced Fund
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899,477
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Registered Investment Companies
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**
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12,061,988
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||||||||
Putnam Dynamic Asset Allocation Conservative Fund
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1,298,731
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Registered Investment Companies
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**
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12,221,054
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||||||||
Vanguard Institutional Target Retirement 2020
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9,967
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Registered Investment Companies
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**
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252,771
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||||||||
Vanguard Institutional Target Retirement 2025
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112,244
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Registered Investment Companies
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**
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1,872,234
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||||||||
Vanguard Institutional Target Retirement 2030
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85,742
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Registered Investment Companies
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**
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2,689,718
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Vanguard Institutional Target Retirement 2035
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114,015
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Registered Investment Companies
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**
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2,206,183
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Vanguard Institutional Target Retirement 2040
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47,562
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Registered Investment Companies
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**
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1,617,096
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||||||||
Vanguard Institutional Target Retirement 2045
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71,600
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Registered Investment Companies
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**
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1,633,906
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||||||||
Vanguard Institutional Target Retirement 2050
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23,160
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Registered Investment Companies
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**
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875,458
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Vanguard Institutional Target Retirement 2055
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18,729
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Registered Investment Companies
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**
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789,816
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Vanguard Institutional Target Retirement 2060
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20,553
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Registered Investment Companies
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**
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798,092
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Vanguard Institutional Target Retirement 2065
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11,694
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Registered Investment Companies
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**
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297,489
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||||||||
Vanguard Institutional Target Retirement 2070
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20
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Registered Investment Companies
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**
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395
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||||||||
Vanguard Institutional Target Retirement
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140,297
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Registered Investment Companies
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**
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1,717,232
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||||||||
MFS International Diversification R4
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181,844
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Registered Investment Companies
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**
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3,665,983
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||||||||
Fidelity Advisor Equity Growth
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825,936
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Registered Investment Companies
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**
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12,124,732
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Fidelity 500 Index Instl Prem
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90,374
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Registered Investment Companies
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**
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12,030,553
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||||||||
Fidelity US Bond Index Instl Prem
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94,920
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Registered Investment Companies
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**
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966,291
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||||||||
Putnam Diversified Income Trust
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351,669
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Registered Investment Companies
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**
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1,958,796
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||||||||
Baron Asset Fund
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47,186
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Registered Investment Companies
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**
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4,097,630
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||||||||
T. Rowe Price Mid Cap Value Fund
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226,945
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Registered Investment Companies
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**
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6,433,881
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||||||||
Vanguard Federal Money Market Fund Investor
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7,475,746
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Registered Investment Companies
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**
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7,475,746
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||||||||
Putnam Large Cap Value
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316,774
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Registered Investment Companies
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**
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8,939,356
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||||||||
Neuberger & Berman Genesis Trust
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97,588
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Registered Investment Companies
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**
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5,289,255
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||||||||
Total registered investment companies
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$
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138,568,514
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(b)
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(c)
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(d)
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(e)
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||||||||
(a)
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Identity of issue, borrower, lessor, or similar party
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Description of investment including
maturity date, rate of interest, collateral,
par of maturity value***
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Current
Value
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|||||||||
*
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Donegal Group Inc.
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526,991
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Shares of Class A Common Stock
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**
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$
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7,447,944
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||||||
*
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Donegal Group Inc.
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52,357
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Shares of Class B Common Stock
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**
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927,764
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|||||||
Total employer securities
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$
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8,375,708
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||||||||||
Total assets
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$
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149,437,923
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DONEGAL MUTUAL INSURANCE
|
|||
COMPANY 401(k) PLAN
|
|||
Date: June 27, 2023
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By:
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/s/ Kevin G. Burke
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Kevin G. Burke, Trustee
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|||
By:
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/s/ Jeffrey D. Miller
|
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Jeffrey D. Miller, Trustee
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|||
By:
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/s/ Daniel J. Wagner
|
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Daniel J. Wagner, Trustee
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Exhibit Number
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Description
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Consent of BDO USA, LLP (filed herewith)
|