Hawaii Life and Disability Insurance Guaranty Association

Nonprofit profile at a glance

EIN
990224036
IRS 990 coverage
2019–2025
Forms available
Form 990 2025
Location
Honolulu, HI, USA
Phone
8084408763
Rating
88
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,214,783
Expenses
$1,262,633
Assets
$33,779,111
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • Peter Inoue (Executive Director)

Highest reported compensation

  • Peter Inoue (Executive Director): $105,710 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Association's statutory mission is set forth and governed by the HLDIGA Act (i.e., to protect Hawaii owners and beneficiaries of policies issued by Hawaii licensed life and health insurance companies that become impaired or insolvent, subject to certain limits).

What it reported doing in 2025

Approximately 54.3% ($686,111 / $1,262,633) of the Total Expenses and Program Services Expenses were used by the Association to settle claims of Hawaii owners and beneficiaries of policies issued by Hawaii licensed impaired or insolvent life and health insurance companies in accordance with its sole program service mission. Approximately, 45.7% ($576,518 / $1,262,633) of the remaining expenses were attributable to ordinary and necessary expenses of the Association in fulfilling its sole program service mission, which are reported on Form 990, Part IX, Columns A and B.

Operating model

Revenue model
Investment-supported. 79% of the money available for current operations came from recurring investment income.
Distribution model
Hybrid. The nonprofit split its reported program spending across 46% for direct work, and 54% for member benefits.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 54
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.5%; rating input score 96
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.9%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 26.75; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 8.4%; rating input score 42; 42nd percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: -12.7% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 12.6% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 96.5% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1.3M in reported program spending
  • Leadership: top reported pay $106K · 10 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 7 filing years from 2019 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 21/100.
  • Moderate — Sustainability: Officer compensation ratio scored 42/100.