Civic Intelligence

Delta Pilots Disability and Survivorship Trust

990 • Fiscal year 2022 • EIN 36-6751616

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

Organization Profilewww.delta.com
1030 DELTA BOULEVARD Suite 959Atlanta, GA 30354

(404) 715-2600

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

52nd percentile

0.03x

Higher debt load relative to assets than 52% of similar nonprofits.

2022 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2022

Liabilities / Revenue

52nd percentile

0.08x

Higher debt load relative to revenue than 52% of similar nonprofits.

2022 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2022

Net Margin

7th percentile

-213%

Higher net margin than 7% of similar nonprofits.

2022 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2022

Top Officer Pay

72nd percentile

$253,822

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2022 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2022

Asset Growth

1st percentile

-53%

Faster asset growth than 1% of similar nonprofits.

2022 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2021 to 2022

Revenue Growth

22nd percentile

-33%

Faster revenue growth than 22% of similar nonprofits.

2022 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Down

$227,540,668

Down $338,759,038 (-60%) from 2020

Net Assets

Down

$221,045,693

Down $275,907,381 (-56%) from 2020

Liabilities

Down

$6,494,975

Down $62,851,657 (-91%) from 2020

Revenue And Expenses
Liabilities / Revenue52nd percentileNet Margin7th percentile

Revenue

Up

$81,178,138

Up $38,984,139 (+92%) from 2020

Expenses

Up

$253,724,454

Up $33,640,206 (+15%) from 2020

Net Income

Up

-$172,546,316

Up $5,343,933 (+3.0%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5B$1.0B$500M$0Assets 2010: $1,140,231,251Liabilities 2010: $158,279,039Net Assets 2010: $981,952,2122010Assets 2012: $1,065,069,082Liabilities 2012: $103,892,085Net Assets 2012: $961,176,9972012Assets 2013: $1,163,533,283Liabilities 2013: $172,848,933Net Assets 2013: $990,684,3502013Assets 2014: $1,327,066,069Liabilities 2014: $294,987,196Net Assets 2014: $1,032,078,8732014Assets 2015: $1,229,821,043Liabilities 2015: $256,517,356Net Assets 2015: $973,303,6872015Assets 2016: $1,040,256,925Liabilities 2016: $222,909,971Net Assets 2016: $817,346,9542016Assets 2017: $1,005,321,892Liabilities 2017: $138,350,978Net Assets 2017: $866,970,9142017Assets 2018: $899,054,340Liabilities 2018: $121,297,455Net Assets 2018: $777,756,8852018Assets 2019: $713,751,128Liabilities 2019: $70,159,490Net Assets 2019: $643,591,6382019Assets 2020: $566,299,706Liabilities 2020: $69,346,632Net Assets 2020: $496,953,0742020Assets 2022: $227,540,668Liabilities 2022: $6,494,975Net Assets 2022: $221,045,6932022

Highlighted filing

2022

Assets$227,540,668
Liabilities$6,494,975
Net Assets$221,045,693
Open 2022 Filing

Operations Trend

Revenue Growth22nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400M$200M$0-$200MExpenses 2010: $183,639,7932010Expenses 2012: $193,003,4062012Expenses 2013: $138,112,1832013Revenue 2014: $79,766,696Expenses 2014: $142,506,464Net Income 2014: -$62,739,7682014Revenue 2015: $96,720,843Expenses 2015: $151,220,336Net Income 2015: -$54,499,4932015Revenue 2016: $27,505,730Expenses 2016: $176,927,645Net Income 2016: -$149,421,9152016Revenue 2017: $191,128,951Expenses 2017: $178,719,556Net Income 2017: $12,409,3952017Revenue 2018: $74,788,270Expenses 2018: $193,074,931Net Income 2018: -$118,286,6612018Revenue 2019: $73,405,921Expenses 2019: $211,606,177Net Income 2019: -$138,200,2562019Revenue 2020: $42,193,999Expenses 2020: $220,084,248Net Income 2020: -$177,890,2492020Revenue 2022: $81,178,138Expenses 2022: $253,724,454Net Income 2022: -$172,546,3162022

Highlighted filing

2022

Revenue$81,178,138
Expenses$253,724,454
Net Income-$172,546,316
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.2
Gross Receipts
$802,896,949
Mission and Program Overview

Mission

Disburse payments to or on behalf of participants related to disability and survivorship.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$483,451,016$221,045,693▼ $262,405,323
Investments Other Securities$336,091,738$137,948,420▼ $198,143,318
Accounts Receivable$48,371,014$49,930,730▲ $1,559,716
Investments in Publicly Traded Securities$61,829,287$26,317,800▼ $35,511,487
Savings and Temporary Cash Investments$31,465,152$11,392,762▼ $20,072,390
Cash and Non-Interest-Bearing Accounts$10,552,800$1,950,956▼ $8,601,844
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$488,309,991$227,540,668▼ $260,769,323
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$4,858,975$6,494,975▲ $1,636,000
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$4,858,975$6,494,975▲ $1,636,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$483,451,016$221,045,693▼ $262,405,323
Total Liabilities and Net Assets / Fund Balance$488,309,991$227,540,668▼ $260,769,323

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$24,598,853--
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleBaseTotal
JP Morgan ChaseTrustee$253,822$253,822

Board Members and Trustees

NameTitle
Greg S TahvonenChair, Admin Comm; Member
Kenneth W MorgeChair, Investment Committee
Janet BrunkMember, Admin Committee
Mindy DavisonMember, Admin Committee
Jennifer ShayMember, Admin SubCommittee
Garrett L ChaseMember, Investment Committee
Heather OtisMember, Investment Committee
Kelly ElliottMember, Investment Committee
Shawn ColeMember, Investment Committee
William C CarrollMember, Investment Committee

Highest Paid Contractors

ContractorServicesLocationCompensation
Harvey Watt And CoClaims ProcessingPO BOX 20787, Atlanta, GA 30320$851,797
Arga Investment Management LPInvestment Mgmt1010 Washington Blvd 6th Floor, Stamford, CT 06901$224,757
Jp Morgan ChaseFinancial Services270 PARK AVE, New York, NY 10017$189,727
ConduentContract Admin100 Campus Drive Suite 200, Florham Park, NJ 07932$173,943
Sands Capital ManagementInvestment Mgmt1000 WILSON BLVD 3000, Arlington, VA 22209$144,501
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$44,122,508
Investment Income
$37,055,630
Other Revenue
$0
Change in Net Assets
$-172,546,316

Audited Revenue Reconciliation

Revenue per Audited Statements
$81,178,138
Revenue Not Reported on Form 990
$-89,859,007
Total Revenue per Audited Statements
$-8,680,869
Total Revenue per Form 990
$81,178,138
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,146,824
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$251,577,630
Fees for Services Other---$1,418,821
Fees for Service Investment Mgmnt Fees---$688,750
Fees for Services Accounting---$39,253
Total Functional Expenses$0$0$0$253,724,454

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$253,724,454
Total Expenses per Audited Statements$253,724,454
Total Expenses per Form 990$253,724,454
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION B, LINE 11B:

“The form 990 is completed each year by delta air lines, inc.'s corporate benefits department and their independent accountants. The department and the accountants enter all the information and gather the necessary files and schedules for support. The return goes through two levels of managerial review; and then the return is reviewed with the principal officer prior to signing the form.”

FORM 990, PART VI, SECTION C, LINE 19:

“The financial statements of the pilots disability and survivorship trust are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Delta Pilots Disability and Survivorship
EIN
36-6751616
In Care Of
% DELTA AIR LINES INC
Phone
4047152600
Address
1030 DELTA BOULEVARD Suite 959, ATLANTA, GA 30354

Signing Officer

Name
Kelley Elliott
Title
VP, Total Rewards
Phone
4047152600
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kelley Elliott
Formed
1982
Legal Domicile
Ga
Voting Board Members
10
Independent Board Members
9
Employees
0
Volunteers
0

Preparer

Firm
Bdo USA Llp
Address
200 OTTAWA AVE NW STE 300, GRAND RAPIDS, MI 49503
Preparer
Jacob Cook
Phone
6167747000
Supplemental Narrative

Financial Statement Notes

SCHEDULE D, PART X, LINE 2:

“The trust is intended to qualify pursuant to section 501(c)(9) and accordingly, the trust's net investment income is exempt from income taxes. The trust has obtained a favorable tax exemption letter from the internal revenue service ("irs") dated february 10, 1988. The plan and trust have been amended since receiving the exemption letter. The plan and trust must operate in accordance with the code to maintain the trust's tax exempt status. The company believes that the plan and the trust, as amended, continue to qualify and to operate in accordance with applicable requirements of the code, therefore, no provision for income taxes has been included in the plan's financial statements. U.s. Gaap requires plan management to evaluate tax positions taken by the plan and recognize a tax liability (or asset) if the plan has taken an uncertain position that more likely than not would not be sustained upon examination by the irs. The plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt3Member, Admin Committee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Chair, Investment Committee
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IRS990/Form990PartVIISectionAGrp/TitleTxt6Member, Investment Committee
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IRS990/MissionDesc0DISBURSE PAYMENTS TO OR ON BEHALF OF PARTICIPANTS RELATED TO DISABILITY AND SURVIVORSHIP.
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0KELLEY ELLIOTT
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IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0EMPLOYER CONTRIBUTIONS
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt124598853
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE TRUST IS INTENDED TO QUALIFY PURSUANT TO SECTION 501(C)(9) AND ACCORDINGLY, THE TRUST'S NET INVESTMENT INCOME IS EXEMPT FROM INCOME TAXES. THE TRUST HAS OBTAINED A FAVORABLE TAX EXEMPTION LETTER FROM THE INTERNAL REVENUE SERVICE ("IRS") DATED FEBRUARY 10, 1988. THE PLAN AND TRUST HAVE BEEN AMENDED SINCE RECEIVING THE EXEMPTION LETTER. THE PLAN AND TRUST MUST OPERATE IN ACCORDANCE WITH THE CODE TO MAINTAIN THE TRUST'S TAX EXEMPT STATUS. THE COMPANY BELIEVES THAT THE PLAN AND THE TRUST, AS AMENDED, CONTINUE TO QUALIFY AND TO OPERATE IN ACCORDANCE WITH APPLICABLE REQUIREMENTS OF THE CODE, THEREFORE, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED IN THE PLAN'S FINANCIAL STATEMENTS. U.S. GAAP REQUIRES PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE PLAN HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS COMPLETED EACH YEAR BY DELTA AIR LINES, INC.'S CORPORATE BENEFITS DEPARTMENT AND THEIR INDEPENDENT ACCOUNTANTS. THE DEPARTMENT AND THE ACCOUNTANTS ENTER ALL THE INFORMATION AND GATHER THE NECESSARY FILES AND SCHEDULES FOR SUPPORT. THE RETURN GOES THROUGH TWO LEVELS OF MANAGERIAL REVIEW; AND THEN THE RETURN IS REVIEWED WITH THE PRINCIPAL OFFICER PRIOR TO SIGNING THE FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FINANCIAL STATEMENTS OF THE PILOTS DISABILITY AND SURVIVORSHIP TRUST ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19:
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0DELTA AIR LINES
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0580218548
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0DE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0AIR TRANSPORT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0DELTA AIR LINES INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfEOYAssetsAmt00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$227,540,668
Liabilities
$6,494,975
Net assets
$221,045,693
Revenue
$81,178,138
Expenses
$253,724,454
Net income
-$172,546,316
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$228$6.49$221$81.2$254$173
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$566$69.3$497$42.2$220$178
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$714$70.2$644$73.4$212$138
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$899$121$778$74.8$193$118
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,005$138$867$191$179$12.4
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,040$223$817$27.5$177$149
2015Detailed filing. Detailed filing data is available for this year.$1,230$257$973$96.7$151$54.5
2014Detailed filing. Detailed filing data is available for this year.$1,327$295$1,032$79.8$143$62.7
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,164$173$991$138
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,065$104$961$193
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,140$158$982$184