HAWAII INSURANCE GUARANTY ASSOCIATI

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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

1984

Legal Domicile

Principal Officer

BLAKE OBATA

Phone

8085281222

Tax Period

2025-01-01 to 2025-12-31

HAWAII INSURANCE GUARANTY ASSOCIATI, founded in 1984, is a community nonprofit that reported $1.3M in total revenue in fiscal year 2025. Expenses of $1.5M exceeded revenue, resulting in a 15% operating deficit.

Mission

THE ASSOCIATION WAS CREATED UNDER THE HAWAII INSURANCE GUARANTY ASSOCIATION ACT UNDER ARTICLE 16, CHAPTER 431 OF THE HAWAII REVISED STATUTES. THE ASSOCIATION ACTS AS A MECHANISM FOR THE TIMELY PAYMENT OF COVERED CLAIMS UNDER CERTAIN INSURANCE POLICIES TO AVOID FINANCIAL LOSS TO CLAIMANTS OR POLICYHOLDERS BECAUSE OF THE INSOLVENCY OF AN INSURER, TO ASSIST IN THE DETECTION AND PREVENTION OF INSURER INSOLVENCIES, AND TO ASSESS THE COST OF SUCH PROTECTION AMONG INSURERS.

Program Service Accomplishments

Program 1

Expenses: $1,164,499 Revenue: $574,575

THE ASSOCIATION ACTS AS A MECHANISM FOR THE TIMELY PAYMENT OF COVERED CLAIMS UNDER CERTAIN INSURANCE POLICIES TO AVOID FINANCIAL LOSS TO CLAIMANTS OR POLICYHOLDERS BECAUSE OF THE INSOLVENCY OF AN...

THE ASSOCIATION ACTS AS A MECHANISM FOR THE TIMELY PAYMENT OF COVERED CLAIMS UNDER CERTAIN INSURANCE POLICIES TO AVOID FINANCIAL LOSS TO CLAIMANTS OR POLICYHOLDERS BECAUSE OF THE INSOLVENCY OF AN INSURER, TO ASSIST IN THE DETECTION AND PREVENTION OF INSURER INSOLVENCIES, AND TO ASSESS THE COST OF SUCH PROTECTION AMONG INSURERS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $574,575

Investment Income $760,023

Other Revenue $6,175

TOTAL REVENUE $1,340,773

Expense Breakdown

Grants Paid $0

Salaries & Benefits $390,994

Fundraising Expenses $0

Program Expenses $1,164,499

Other Expenses $1,155,278

TOTAL EXPENSES $1,546,272

Year-over-Year Comparison

	2025	2024	Change
Revenue	$1,340,773	$1,324,698	+0.0%
Expenses	$1,546,272	$1,610,527	0.0%
Net Income	$-205,499	$-285,829	-0.3%

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

Employees

Volunteers

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

$154,565

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT LIBBY	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
MICHAEL ONOFRIETTI	VICE-CHAIRPE	1.00	Officer Director	$0	$0	$0
JON HEDEGARD	SEC/TREAS	1.00	Officer Director	$0	$0	$0
KIA KAMAUU	DIRECTOR	1.00	Director	$0	$0	$0
SHANNYN KOTT	DIRECTOR	1.00	Director	$0	$0	$0
MIKE MITSUKA	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER MATT	DIRECTOR	1.00	Director	$0	$0	$0
JOE THESING	DIRECTOR	1.00	Director	$0	$0	$0
DEAN YASUI	DIRECTOR	1.00	Director	$0	$0	$0
BLAKE OBATA	EXECUTIVE DI	40.00	Officer	$134,400	$20,165	$154,565

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
2025	$1,340,773	$1,546,272	$24,503,413	$-205,499
2024	$1,324,698	$1,610,527	$25,176,513	$-285,829
2023	$9,361,098	$1,696,194	$25,854,621	$7,664,904
2022	$446,675	$1,858,194	$15,579,884	$-1,411,519
2021	$805,955	$1,446,690	$16,991,403	$-640,735
2020	$254,738	$1,427,651	$17,687,723	$-1,172,913
2019	$2,957,924	$1,479,578	$18,805,051	$1,478,346
2018	$3,219,305	$1,804,110	$17,326,705	$1,415,195