PENSION AND PROFIT-SHARING PLANS

9 Months Ended

May 31, 2023

Retirement Benefits [Abstract]

PENSION AND PROFIT-SHARING PLANS

10.       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 nine-month periods ended May 31, 2023 and 2022 the 401(k) compensation expense were $404,541 and $426,436, respectively.