SOUTHWEST AIRLINES PILOTS' ASSOCIATION VEBA TRUST FOR SPECIFIED PILOTS (EIN 906126130) - Form 990 Financial Analysis & Trantor Score

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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

2010

Legal Domicile

Principal Officer

JODY REVEN

Phone

8009697972

Tax Period

2024-01-01 to 2024-12-31

SOUTHWEST AIRLINES PILOTS' ASSOCIATION VEBA TRUST FOR SPECIFIED PILOTS, founded in 2010, is a community nonprofit in the Mutual Benefit sector that reported $1.1M in total revenue in fiscal year 2024. Revenue fell 57% from the prior year — a significant decline worth monitoring. Expenses of $3.2M exceeded revenue, resulting in a 205% operating deficit.

Mission

PROVIDE MEDICAL AND DENTAL BENEFITS TO ELIGIBLE PILOTS AND QUALIFYING DEPENDENTS WHO ARE MEMBERS OF THE SOUTHWEST AIRLINES PILOTS ASSOCIATION.

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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 $607,492

Program Service Revenue $0

Investment Income $446,682

Other Revenue $0

TOTAL REVENUE $1,054,174

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $468,041

TOTAL EXPENSES $3,210,962

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,054,174	$2,433,231	-0.6%
Expenses	$3,210,962	$6,308,412	-0.5%
Net Income	$-2,156,788	$-3,875,181	-0.4%

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

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

$593,389

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KRIS TAKLE	BOD - ATL - CHAIR	1.00	Director	$0	$0	$0
DANIEL MONG	BOD - ATL - VICE-CHAIR	1.00	Director	$0	$0	$0
MIKE PISCITELLI	BOD - BWI - CHAIR	1.00	Director	$0	$0	$0
MATTHEW WRIGHT	BOD - DAL - CHAIR	1.00	Director	$0	$0	$0
CHESS FULTON	BOD - DAL - VICE-CHAIR	1.00	Director	$0	$0	$0
MARK POWERS	BOD - DEN - CHAIR	1.00	Director	$0	$0	$0
KEVIN HORNBURG	BOD - DEN - VICE-CHAIR	1.00	Director	$0	$0	$0
MICHAEL INDE	BOD - HOU - CHAIR	1.00	Director	$0	$0	$0
JOHN FISHER	BOD - HOU - VICE CHAIR	1.00	Director	$0	$0	$0
MICHAEL LIK	BOD - LAS - CHAIR	1.00	Director	$0	$0	$0
DENNIS O'LEARY	BOD - LAS - VICE-CHAIR	1.00	Director	$0	$0	$0
MIKE CALLAGHAN	BOD - LAX - CHAIR	1.00	Director	$0	$0	$0
BRIAN ANDERSON	BOD - LAX - VICE-CHAIR	1.00	Director	$0	$0	$0
JOE MONDELLO	BOD - MCO - CHAIR	1.00	Director	$0	$0	$0
MICHAEL ANZALOTTI	BOD - MDW - CHAIR	1.00	Director	$0	$0	$0
KELLY HANLEY	BOD - BNA - CHAIR	1.00	Director	$0	$0	$0
CHRIS DAVIS	BOD - OAK - CHAIR	1.00	Director	$0	$0	$0
JOHN LO	BOD - OAK - VICE-CHAIR	1.00	Director	$0	$0	$0
KEVIN REECE	BOD - PHX - CHAIR	1.00	Director	$0	$0	$0
BRIAN MARIN	BOD - PHX - VICE-CHAIR	1.00	Director	$0	$0	$0
ANDREW SOWELL	BOD - BNA - VICE-CHAIR	1.00	Director	$0	$0	$0
THOMAS BAKE	BOD - BWI - VICE-CHAIR	1.00	Director	$0	$0	$0
DAVID PECK	BOD - MCO - VICE-CHAIR	1.00	Director	$0	$0	$0
RICHARD KIM	BOD - MDW - VICE-CHAIR	1.00	Director	$0	$0	$0
CASEY MURRAY	PRESIDENT	5.00	Officer Director	$0	$0	$0
TOM NEKOUEI	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
HANK KETCHUM	2ND VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
MICHAEL HAYNES	DIRECTOR OF RETIREMENT	5.00	Officer	$0	$75,600	$264,346
BRIAN HICKMAN	DIRECTOR OF FINANCE	5.00	Officer	$0	$63,279	$329,043

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	$1,054,174	$3,210,962	$11,889,439	$-2,156,788
2023	$2,433,231	$6,308,412	$13,345,250	$-3,875,181
2022	$1,153,970	$4,662,835	$16,071,127	$-3,508,865
2021	$2,561,347	$3,940,696	$22,333,086	$-1,379,349
2020	$2,723,975	$3,892,598	$22,501,227	$-1,168,623
2019	$3,291,913	$3,212,028	$22,250,014	$79,885
2018	$1,917,028	$2,448,374	$20,289,058	$-531,346

SOUTHWEST AIRLINES PILOTS' ASSOCIATION VEBA TRUST FOR SPECIFIED PILOTS