HAWAIIAN AIRLINES INC PILOTS' VOLU… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2005

Legal Domicile

Principal Officer

BANK OF HI-INSTITUT TRUSTEE

Phone

8088353700

Tax Period

2023-01-01 to 2023-12-31

HAWAIIAN AIRLINES INC PILOTS' VOLUNTARY EMPL, founded in 2005, is a community nonprofit in the Mutual Benefit sector that reported $4.9M in total revenue in fiscal year 2023. Revenue surged 30% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.9M, a strong 38% operating margin.

Mission

THE PURPOSE OF THE ORGANIZATION IS TO PROVIDE ELIGIBLE PILOTS OF HAWAIIAN AIRLINES INC WITH A SOURCE OF INCOME DURING A PERIOD OF SIGNIFICANT ILLNESS OR INJURY.

Program Service Accomplishments

Program 1

Expenses: $0 Revenue: $0

("PLAN") IS A VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION ("VEBA") SUBJECT TO THE REQUIREMENTS OF SECTION 501(A) AND 501(C)(9) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. THE PLAN PROVIDES...

("PLAN") IS A VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION ("VEBA") SUBJECT TO THE REQUIREMENTS OF SECTION 501(A) AND 501(C)(9) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. THE PLAN PROVIDES MONTHLY DISABILITY INCOME TO ELIGIBLE PILOTS OF HAWAIIAN AIRLINES, INC. ("THE COMPANY"). AFTER A PILOT'S APPLICATION FOR DISABILITY INCOME IS APPROVED, HE/SHE WILL RECEIVE MONTHLY DISABILITY INCOME PAYMENTS FROM THE PLAN PURSUANT TO THE FORMULA CONTAINED IN THE PLAN. IF A PILOT DIES WHILE RECEIVING DISABILITY INCOME PAYMENTS, HIS/HER SPOUSE WILL RECEIVE A MONTHLY SURVIVING SPOUSE BENEFIT EQUAL TO 50% OF THE AMOUNT PAYABLE TO THE PILOT. A PILOT WILL BE REGARDED AS DISABLED IF HE/SHE IS UNABLE TO MAINTAIN OR EXERCISE THE PRIVILEGES OF THE FAA MEDICAL CERTIFICATE REQUIRED BY THE FAA TO BE MAINTAINED FOR HIS/HER JOB POSITION OR CATEGORY DUE TO THE MEDICALLY DETERMINABLE PHYSICAL OR MENTAL CONDITION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $4,767,188

Investment Income $142,426

Other Revenue $0

TOTAL REVENUE $4,909,614

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,780

Fundraising Expenses $0

Program Expenses $0

Other Expenses $1,999

TOTAL EXPENSES $3,043,303

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,909,614	$3,783,444	+0.3%
Expenses	$3,043,303	$1,948,761	+0.6%
Net Income	$1,866,311	$1,834,683	+0.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BANK OF HAWAII	INSTITUTIONAL TRUSTEE	1.0		$1,780	$0	$1,780

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$4,909,614	$3,043,303	$46,934,681	$1,866,311
2022	$3,783,444	$1,948,761	$39,893,685	$1,834,683
2021	$4,077,327	$1,487,403	$44,631,324	$2,589,924
2020	$4,083,848	$1,832,166	$38,709,567	$2,251,682

HAWAIIAN AIRLINES INC PILOTS' VOLUNTARY EMPL