HAWAII SURFING ASSOCIATION

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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

2004

Legal Domicile

Principal Officer

WENDELL AOKI

Phone

8082639322

Tax Period

2025-01-01 to 2025-12-31

HAWAII SURFING ASSOCIATION, founded in 2004, is a small nonprofit in the Recreation & Sports sector that reported $237K in total revenue in fiscal year 2025. Revenue fell 38% from the prior year — a significant decline worth monitoring. Expenses of $227K left a modest 4% surplus.

Mission

NONE

Program Service Accomplishments

Program 1

Expenses: $178,522 Revenue: $111,334

LINE#94 MEMBERSHIP DUES AND ASSESSMENTS: THE MEMBERSHIP DUES CONTRIBUTED SIGNIFICANTLY TO HASA'S EXEMPT PURPOSES BY ESTABLISHING A FORMAL ORGANIZED SURF ENTITY WHERE MOSTLY YOUTH-AGED SURFERS COULD BECOME A PART OF AN ORGANIZATION. THE ANNUAL DUES PAID ENTITLES THE MEMBERS TO PAY A REDUCED ENTRANCE FEE BY $20 TO $25 PER EVENT. THE SENSE OF BELONGING TO AN ORGANIZATION AND THE REDUCED ENTRANCE FEE HELPS HASA TO RECRUIT NEW MEMBERSHIP BY 5% TO 10% OVER THE PAST FEW YEARS. WITH THE INCREASE IN MEMBERSHIP HASA WAS ABLE TO ENHANCE PUBLIC AWARENESS BY PROVIDING COMPETITIVE AMATEUR SURF COMPETITIONS TO MORE SURFERS. IN ADDITION, THE ORGANIZATION PROMOTES LOCAL SURFERS TO COMPETE IN THE UPCOMING 2020 OLYMPIC GAMES IN JAPAN.

Program 2

LINE #101: NET INCOME FROM SPECIAL EVENTS: THE ENTRANCE FEES PAID BY CONTESTANTS HELPED THE SURFERS TO EXPERIENCE AN ORGANIZED AMATEUR SURF COMPETITION, WHERE NOT ONLY SKILL IS INVOLVED BUT...

LINE #101: NET INCOME FROM SPECIAL EVENTS: THE ENTRANCE FEES PAID BY CONTESTANTS HELPED THE SURFERS TO EXPERIENCE AN ORGANIZED AMATEUR SURF COMPETITION, WHERE NOT ONLY SKILL IS INVOLVED BUT SPORTSMANSHIP IS ALSO EXHIBITED. THESE SURF MEETS HELP THE MORE PROFICIENT SURFERS TO COMPETE WITH THE WORLD'S BEST WAVE RIDERS. IN ADDITION, THE SURF MEETS PROVIDE EXPERIENCE FOR THE JUDGES TO QUALIFY THEM FOR WORLD COMPETITION.

Program 3

LINE #103A: THE INCOME GENERATED THROUGH ADVERTISING AND SPONSORSHIP ALLOWS THE ORGANIZATION TO EXPOSE THE ART OF SURFING TO THE GENERAL PUBLIC. IT ALSO HELPS TO PERPETUATE THIS ANCIENT HAWAIIAN...

LINE #103A: THE INCOME GENERATED THROUGH ADVERTISING AND SPONSORSHIP ALLOWS THE ORGANIZATION TO EXPOSE THE ART OF SURFING TO THE GENERAL PUBLIC. IT ALSO HELPS TO PERPETUATE THIS ANCIENT HAWAIIAN SPORT NOT ONLY LOCALLY BUT THROUGHOUT THE WORLD. BANNERS, FLAGS AND T-SHIRTS DISPLAYING A SURF MEET HELPS TO PROMOTE SURFING AMONG ITS ISLAND VISITORS.

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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 $125,522

Program Service Revenue $95,582

Investment Income $4

Other Revenue $15,752

TOTAL REVENUE $236,860

Expense Breakdown

Grants Paid $0

Salaries & Benefits $31,164

Fundraising Expenses $0

Program Expenses $178,522

Other Expenses $196,280

TOTAL EXPENSES $227,444

Year-over-Year Comparison

	2025	2024	Change
Revenue	$236,860	$379,956	-0.4%
Expenses	$227,444	$394,889	-0.4%
Net Income	$9,416	$-14,933	-1.6%

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

$31,164

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WENDELL AOKI	PRESIDENT & DIRECTOR	25.00	Officer	$27,889	$0	$27,889
JACK SHIPLEY	VICE-PRESIDENT & DIRECTOR	2.00	Officer	$500	$0	$500
BERNIE BAKER	SECRETARY & DIRECTOR	1.00	Officer	$0	$0	$0
RAYMOND SHITO	TREASURER & DIRECTOR	12.00	Officer	$2,775	$0	$2,775
JAMES CLANCY	DIRECTOR	3.00	Officer	$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	$236,860	$227,444	$82,001	$9,416
2024	$379,956	$394,889	$72,585	$-14,933
2023	$258,158	$262,808	$87,518	$-4,650
2022	$220,231	$174,779	$92,168	$45,452
2021	$63,462	$61,660	$46,716	$1,802
2020	$13,514	$34,145	$45,664	$-20,631
2019	$104,928	$135,074	$66,132	$-30,146
2018	$109,526	$175,652	$96,441	$-66,126