TABLE OF CONTENTS
2012 Annual Report
2
3 Letter from the Executive Director and Chairman of the Board
4 Our Mission, Purpose, Vision, History
5 2012 Statistics
6 Regional Hubs
7 Key Information
8 Southwest TLC/Lone Eagle Programs
9 Board of Directors
10 Audited Financial Statement
Letter from the Executive Director and Chairman of the Board
The Veterans we serve live in communities across our great nation. They are the courageous men and women who
paved the way for the liberties and freedoms we have today. They are the WWII, Korean, Vietnam and terminally-ill
Veterans that the Honor Flight Network proudly serves. We are pleased to report that in the fiscal year 2012, the Honor
Flight Network has served these deserving men and women more effectively than ever. Consider these
accomplishments:

11 New Honor Flight Hubs opened to expand our reach to Veterans

Serving in 7 new states to serve more Veterans

Percentage of our Honor Flight Hubs began to fly Korean Veterans

Increased financial assistance from Headquarters to our local Honor Flight Hubs to carry out our mission
Financially, Honor Flight Network is on solid ground. We are invested in the lives of our deserving Veterans and seeing
that they are honored before it is too late.
The work that lies ahead is just as important as our history. We realize that time is of the essence. Thousands of lives
have been touched, but over 20,000 deserving Veterans are waiting their opportunity to be honored by experiencing an
Honor Flight trip. Unfortunately, countless deserving, but aging Veterans will not make it to our next Flying Season.
To those who support our mission, we offer our profound gratitude. And, to those who will benefit from our work for many
years to come, we offer our undiminished devotion.
Sincerely,
2012 Annual Report
3
Diane Gresse, Executive Director
James McLaughlin, Chairman of the Board of Directors
Honor Flight
Our Mission
Transport America's veterans to Washington,
D.C. to visit those memorials dedicated to
honor their service and sacrifices.
Our Purpose
To raise awareness and enlist the public’s aid to
honor our deserving Veterans to visit their
memorials in Washington, D.C.
Our Vision
To show appreciation to every deserving Veteran
to experience a memorable trip of a lifetime.
Our History
Honor Flight began as a way to honor WWII
Veterans, many of whom had no other means to
visit their long awaited memorial of over sixty
years, an opportunity to assist in the process with
transport to our Nation’s Capital.
2012 Annual Report
4
11 New Honor Flight
Hubs
Serving 7 new states
Flying WWII, Korean,
Vietnam and
Terminally-ill Veterans
2012 and Beyond
Honor Flight Network
Results - 2012:
Veterans Flown:
Guardians Flown:
Combined Total:
5
14,500
31,924
Since the inception of
Honor Flight - May, 2005:
Veterans Flown:
Guardians Flown:
Combined Total:
2012 Annual Report
17,424
98,772
53,684
152,456
REGIONAL HUBS
Honor Flight, Inc. has established the Honor Flight Network to spread the mission and values
associated with our founding to community based, independent regional Honor Flight groups
called Hubs throughout the United States.
Regional Hubs are established with the assistance of and at the direction of Honor Flight, Inc.
They are tasked to fundraise with and recruit local donors and volunteers to coordinate with
Honor Flight, Inc. to conduct as many trips and transport as many Veterans as possible.
Honor Flight, Inc. assists local hubs with trip coordination, insurance, fundraising support, and
Southwest Airlines Green Pass distribution or Hub Assistance Grants, as needed.
To ensure as many Veterans are transported to see their Memorials as possible, it is vital that
we establish Regional Hubs in the areas of the country that are not yet served or underserved.
This is a key strategic focus of Honor Flight, Inc.
2012 Annual Report
6
Honor Flight, Inc.
Key Information:
Approximately 305 trips by Regional
Hubs during 2012
121 Regional Hubs serving 41 States
+ $334,000 in Southwest Airlines
airfare donations distributed in 2012
17,424 Veterans Transported in 2012
14,500 Guardians Accompanied
Veterans in 2012
Goal for FY 2013 is to transport more
than 20,000 Veterans Network Wide
2012 Annual Report
7
Honor
Flight
, Inc.
Honor Flight, Inc.
Southwest TLC/Lone Eagle
Programs
Key Information:
Lone Eagle - a Veteran whose application
has been in our National Headquarters office
for one year or more, yet they do not live
close to one of our existing Honor Flight
hubs.
TLC, “Their Last Chance” - a Veteran that
has been diagnosed with a terminal illness
that, according to the veteran’s private
physician, is likely to limit the Veteran’s life
to 12 months or less.
10 trips during 2012
Average cost per Veteran: $600 including
Southwest Airlines airfare donations
207 Veterans Transported in 2012
291 Guardians Accompanied Veterans in
2012
2012 Annual Report
8
BOARD OF DIRECTORS
James McLaughlin
Chairman of the Board
Dave Bauer
Board Member
Buddy Johnson
Vice-Chairman of the Board/Secretary
Randy Ark
Board Member
George Simpson
Treasurer
Scott Frasure
Board Member
Earl Morse
Board Member
Robert Simmons
Board Member
Brian Spencer
Board Member
Diane Gresse
Board Member
2012 Annual Report
9
2012 FINANCIALS - TABLE OF CONTENTS
HONOR FLIGHT, INC.
(A Not-For-Profit Organization)
FINANCIAL REPORT
Fiscal Year Ending December 31, 2012
FINANCIAL STATEMENTS
11
Statement of Financial Position
12
Statement of Activities
13-14 Statement of Functional Expenses
15
Statement of Cash Flows
2012 Annual Report
10
Honor Flight, Inc. Statements of Financial Position
December 31, 2012 and October 31, 2011
Assets
2012
Current assets:
Cash and cash equivalents
$
Restricted cash
Accounts receivable
Deferred airfare expense
Prepaid expenses
Inventory
2011
824,767
88,364
76,000
45,597
1,034,728
Property and equipment:
Furniture and equipment
Vehicles
Less accumulated depreciation
Other assets:
Beneficial interest in trust
488,344
43,277
33,225
41,273
33,225
76,502
(52,890)
74,498
(35,599)
23,612
38,899
469,000
350
Security deposit
418,233
341
9,600
14,486
45,684
350
469,350
350
$
1,527,690
527,593
$
50,064
4,233
8,014
4,583
54,297
12,597
963,460
509,933
514,996
-
Liabilities and Net Assets
Current liabilities:
Accounts payable
Accrued compensation and taxes
Net assets:
Unrestricted
Temporary restricted
1,473,393
$
2012 Annual Report
11
1,527,690
514,996
527,593
Honor Flight,
Inc. Statements of Activities and Changes in Net
Assets Fourteen Months Ended December 31,
2012 and Year Ended October 31, 2011
2012
Unrestricted Support and Revenue
Public support:
Contributions
Gifts in kind
Net assets released from restrictions
$
Revenue:
Program income
Annual conference revenue
Merchandise sales, net
Miscellaneous revenue
Interest income
2011
840,785
397,150
47,431
672,064
561,156
-
1,285,366
1,233,220
500,008
13,275
7,352
1,970
127
484,466
6,317
(731)
(536)
-
522,732
489,516
Total unrestricted support and revenue
1,808,098
1,722,736
Unrestricted Expenses
Expenses:
Program expenses
Management and general expenses
Fundraising expenses
1,242,015
85,035
32,584
1,272,325
110,274
46,905
Total unrestricted expenses
1,359,634
1,429,504
Increase in unrestricted net assets
448,464
293,232
Temporary Restricted Revenue
Contributions
557,364
-
(47,431)
-
Net assets released from restrictions
509,933
Increase in temporary restricted net assets
-
Change in net assets
958,397
293,232
Net assets, beginning of year
514,996
221,764
1,473,393
514,996
Net assets, end of year
2012 Annual Report
12
$
Honor Flight, Inc. Statement of Functional Expenses
Fourteen Months Ended December 31, 2012
Program
Services
Program expenses:
Bus transportation costs
Airfare expense
Lodging costs
Hub assistance grants
Strategic planning conferences
Donations
Meals
Supplies and equipment
RV program costs
Miscellaneous
$
Other expenses:
Salaries and wages
Travel
Business fees and expenses
Occupancy
Website
Depreciation
Postage and shipping
Payroll tax expense
Telephone
Office supplies and expenses
Business insurance
Professional services
Printing and publications
Miscellaneous
Fundraising expenses
Total expenses
2012 Annual Report
13
$
364,850
340,572
79,937
72,570
67,431
66,803
14,566
11,589
5,695
2,299
1,026,312
Mangement
& General
Fundraising
Total
-
-
364,850
340,572
79,937
72,570
67,431
66,803
14,566
11,589
5,695
2,299
1,026,312
122,393
16,881
13,528
12,968
10,337
10,192
9,657
6,932
5,692
4,133
2,990
215,703
24,479
3,376
19,888
18,474
2,594
2,067
2,038
1,932
1,386
1,138
6,836
827
85,035
16,319
2,251
4,510
1,729
1,378
1,359
1,288
924
759
551
1,516
32,584
163,191
22,508
19,888
18,474
18,038
17,291
13,782
13,589
12,877
9,242
7,589
6,836
5,511
2,990
1,516
333,322
1,242,015
85,035
32,584
1,359,634
Honor Flight, Inc. Statement of Functional Expenses
Year Ended October 31, 2011
Program
Services
Program expenses:
Airfare expense
Bus transportation costs
Lodging costs
Supplies and equipment
Meals
Hub assistance grants
RV program costs
Miscellaneous
$
Other expenses:
Salaries and wages
Travel
Business fees and expenses
Donations
Depreciation
Occupancy
Miscellaneous
Website
Payroll tax expense
Postage and shipping
Telephone
Professional services
Bookkeeping fees
Office supplies and expenses
Printing and publications
Fundraising expenses
Business insurance
Total expenses
2012 Annual Report
14
$
550,229
383,855
80,858
54,619
11,629
10,500
3,752
2,434
1,097,876
Mangement
& General
-
Fundraising
-
Total
550,229
383,855
80,858
54,619
11,629
10,500
3,752
2,434
1,097,876
84,918
19,375
1,489
19,507
14,616
3,099
5,200
8,096
3,904
6,805
4,863
1,845
732
174,449
35,383
6,458
10,269
2,891
16,140
12,698
1,446
3,374
3,904
2,268
7,648
6,000
858
205
732
110,274
21,229
10,021
7,800
2,024
3,904
1,927
46,905
141,530
25,833
21,779
19,507
17,507
16,140
15,797
14,446
13,494
11,712
9,073
7,648
6,000
5,721
2,050
1,927
1,464
331,628
1,272,325
110,274
46,905
1,429,504
Honor Flight, Inc.
Statements of Cash Flows
Fourteen Months Ended December 31, 2012 and
Year Ended October 31, 2011
2012
Cash flows from operating activities:
Change in net assets
Adjustments to reconcile change in net assets to net
assets provided by operating activities:
Depreciation
Loss on disposal of fixed assets
Effects of changes in assets and liabilities:
Accounts receivable
87
(12,241) Deferred airfare expense
42,800
Prepaid expenses
Beneficial interest in trust
Accounts payable
Accrued compensation and taxes
401K withheld
$
958,397
293,232
17,291
-
17,507
10,304
341
Net cash provided by operating activities
Cash flows from investing activities:
Purchases of property and equipment
Net cash used in investing activities
2011
(341) Inventory
(66,400)
14,486
(469,000)
42,050
(350)
-
(7,929)
(48,050)
(1,978)
(2,440)
496,902
290,864
(2,004)
(10,021)
(2,004)
(10,021)
Increase in cash and cash equivalents
494,898
280,843
Cash and cash equivalents, beginning of year
418,233
137,390
913,131
418,233
Cash and cash equivalents, end of year
$
Reconciliation to Statement of Financial Position:
2012
Cash and cash equivalents
Restricted cash
$
$
2012 Annual Report
15
824,767
88,364
913,131
2011
418,233
418,233
“We can’t all be heroes. Some of us have to stand on the curb
and clap as they go by.” - Will Rogers
Honor Flight Network, 300 East Auburn Avenue, Springfield, OH 45505
(937) 521-2400 honorflight.org