Honor Flight Chicago Corp

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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

2008

Legal Domicile

Principal Officer

John Ptak

Phone

7732278387

Tax Period

2024-10-01 to 2025-09-30

Honor Flight Chicago Corp, founded in 2008, is a community nonprofit in the Human Services sector that reported $1.5M in total revenue in fiscal year 2024.

Mission

To recognize the bravery, determination and patriotism of America's Seniorveterans with an all-expense paid, one-of-a-kind journey to Washington DCfor a day of honor, thanks and inspiration. Since formation, throughSeptember 30, 2025, the Organization has flown 12,104 veterans.

Program Service Accomplishments

Program 1

Expenses: $1,369,665 Revenue: $145,359

To recognize the bravery, determination and patriotism of America's Seniorveterans with an all-expense paid, one-of-a-kind journey to Washington DCfor a day of honor, thanks and inspiration. Since...

Program 2

Expenses: $61,119

Complimentary to the Honor Flight, Operation Locate a Hero (OLAH) findssenior veterans in their communities to honor their service. Orginallyconceived to recruit veterans to fly on the Honor Flight, OLAH has evolvedduring the COVID-19 pandemic into community-based public displays ofgratitude in addition to recruiting veterans to fly.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,158,858

Program Service Revenue $145,359

Investment Income $116,302

Other Revenue $100,908

TOTAL REVENUE $1,521,427

Expense Breakdown

Grants Paid $0

Salaries & Benefits $316,708

Fundraising Expenses $25,137

Program Expenses $1,430,784

Other Expenses $1,221,870

TOTAL EXPENSES $1,538,578

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,521,427	$1,594,662	0.0%
Expenses	$1,538,578	$1,494,597	+0.0%
Net Income	$-17,151	$100,065	-1.2%

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

1650

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
Edna Ho	Dir of Operations	40.00		$101,031	$0	$101,031
Alan Garfield	Director	0.75	Director	$0	$0	$0
Cyndi Greenglass	Secretary	0.75	Officer Director	$0	$0	$0
Paul Meineke	Vice President	0.75	Officer Director	$0	$0	$0
Mark Meskimen	Director	0.75	Director	$0	$0	$0
Bonni Pear	Director	0.75	Director	$0	$0	$0
Mary Pettinato	Treasurer	0.75	Officer Director	$0	$0	$0
John Ptak	President	4.00	Officer Director	$0	$0	$0
Peter Richey	Director	0.75	Director	$0	$0	$0
Vince Wilson	Director	0.75	Director	$0	$0	$0

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	$1,521,427	$1,538,578	$2,850,342	$-17,151
2024	$1,594,662	$1,494,597	$2,885,048	$100,065
2023	$1,416,276	$1,140,129	$2,671,335	$276,147
2022	$1,111,880	$1,303,951	$2,435,362	$-192,071
2021	$1,145,215	$696,667	$2,707,137	$448,548
2020	$1,164,220	$603,981	$2,093,832	$560,239