HAWAII ELECTRICIANS SUPPLEMENTARY UNEMPLOYMENT BENEFITS FUND

EIN: 990163846

HONOLULU, HI

Total Revenue
$6,639,754
Total Expenses
$3,876,547
Total Assets
$25,632,215
Net Assets
$25,608,233
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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
1962
Legal Domicile
HI
Principal Officer
TRACY HAYASHI AL ITAMOT
Phone
8088416169
Tax Period
2023-10-01 to 2024-09-30

HAWAII ELECTRICIANS SUPPLEMENTARY UNEMPLOYMENT BENEFITS FUND, founded in 1962, is a community nonprofit that reported $6.6M in total revenue in fiscal year 2023. Revenue surged 26% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.8M, a strong 42% operating margin.

Mission

PROVIDES SUPPLEMENTAL UNEMPLOYMENT, SEVERANCE AND DISABILITY BENEFITS TO ELIGIBLE PARTICIPANTS IN ACCORDANCE WITH PLAN RULES AND REGULATIONS. THE PLAN IS A MULTIEMPLOYER PLAN.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $5,429,888
Investment Income $1,209,854
Other Revenue $12
TOTAL REVENUE $6,639,754

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $3,504,909
Other Expenses $371,638
TOTAL EXPENSES $3,876,547

Year-over-Year Comparison

2023 2022 Change
Revenue $6,639,754 $5,269,430 +0.3%
Expenses $3,876,547 $3,840,379 +0.0%
Net Income $2,763,207 $1,429,051 +0.9%
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

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Governance

Voting Members
6
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
0
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JODY HANAMOTO EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
ROBERT HANAMOTO EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
DARYL SUEHIRO EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
AL ITAMOTO EMPLOYER TRUSTEE-ALTERNATE 0.50
Director
$0 $0 $0
DAMIEN KIM UNION TRUSTEE 0.50
Director
$0 $0 $0
MARK PHONGSAVATH UNION TRUSTEE 0.50
Director
$0 $0 $0
TRACY HAYASHI UNION TRUSTEE-ALTERNATE 0.50
Director
$0 $0 $0
LEYTON TORDA UNION TRUSTEE 0.50
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
2024 $6,639,754 $3,876,547 $25,632,215 $2,763,207
2023 $5,269,430 $3,840,379 $21,580,527 $1,429,051
2022 $5,057,510 $4,814,732 $19,015,833 $242,778
2022 $5,057,510 $4,814,732 $19,015,833 $242,778
2021 $6,173,540 $2,858,013 $20,765,063 $3,315,527
2020 $3,640,692 $3,230,453 $17,593,038 $410,239
2019 $3,314,589 $3,757,272 $17,106,574 $-442,683
2018 $3,288,992 $4,076,143 $17,474,731 $-787,151
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