PENSION AND PROFIT-SHARING PLANS

6 Months Ended

Feb. 28, 2022

Retirement Benefits [Abstract]

PENSION AND PROFIT-SHARING PLANS

11. PENSION AND PROFIT-SHARING PLANS

The Company has a deferred compensation 401(k) plan for all employees with at least 6 months of service pending a monthly enrollment time. The plan allows for a non-elective discretionary contribution plus matching employee contributions up to a specific limit. The percentages of contribution remain the discretion of the Board and are reviewed with management annually. For the six month periods ended February 28, 2022 and 2021, the 401(k) compensation expense was $288,216 and $263,022, respectively.