Note 8 - Employees' Profit Sharing and Savings Plan

12 Months Ended

Apr. 30, 2018

Notes to Financial Statements

Compensation Related Costs, General [Text Block]

Note

8

- Employees' Profit Sharing and Savings Plan:

Substantially all employees of the Company and its subsidiaries are members of the Value Line, Inc. Profit Sharing and Savings Plan (the "Plan"). In general, this is a qualified, contributory plan which provides for a discretionary annual Company contribution which is determined by a formula based on the salaries of eligible employees and the amount of consolidated net operating income as defined in the Plan. For the fiscal years ended

April 30, 2018,

2017

and

2016,

the estimated profit sharing plan contribution, which is included as an expense in salaries and employee benefits in the Consolidated Statements of Income, was

$496,000,

$345,000

and

$473,000,

respectively. During fiscal

2017

the U.S. Department of Labor Employee Benefits Security Administration examined the Plan for the period

May 1, 2010

through

March 17, 2016.

As a result of the examination, the Plan sponsor decided to reimburse the Plan in the amount of

$277,000

during fiscal

2017.

The reimbursement was for fees received indirectly by the Plan sponsor from EAM, related to the Plan assets invested in the Value Line Mutual Funds, subsequent to Value Line's divestiture of its asset management and advisory business on

December 23, 2010.

Prior to then, Value Line received fees under a class exemption for certain transactions between investment companies and employee benefit plans. After the corporate restructuring, the fee payments

may

no

longer have qualified under the exemption, and therefore, Value Line decided to pay the fees that it previously collected indirectly from EAM back to the Plan.