Financial Transparency & LM Reporting

Read the financial records on their stated terms

APFA’s union fiscal year runs April 1–March 31. This page brings together the original IRS returns for fiscal years ending in 2023–2025, the available LM-2 evidence, APFA’s FY2026 filing announcement and separate PAC summaries. Annual cash flows, year-end balances, internal fund movements and calendar-year compensation answer different questions.

The original IRS returns report three consecutive annual revenue shortfalls totaling $6,718,898. APFA’s later FY2026 announcement reports a $709,527 increase in cash and a $315,711 increase in net assets. The source and accounting distinctions below are essential to reading that history.

Sources: FY2023 Form 990, Parts I and XI; FY2024 Form 990, Parts I and XI; FY2025 Form 990, Parts I and XI; July 2, 2026 treasurer update, Financial Performance.

Read the detailed FY2024 LM-2 analysis for the complete representation breakdown, cash/net-asset bridge and filing-body controls.

Reporting periods and source availability

The LM-2 identifies APFA under OLMS file 509-620. The matched IRS returns identify APFA under EIN 75-1556608. Dates below refer to fiscal year ends, not the tax-year label in an IRS download filename.

Complete filing and amendment histories remain unverified. A header marked “No” for amended identifies that particular report; it does not establish that no later amendment exists. Unavailable downloads do not establish nonfiling or the absence of transactions. FY2025 report 919382 is not a substitute for the FY2026 report.

Each preserved IRS XML was matched to the official IRS archive, APFA’s identity and the exact reporting dates. FY2022 appears only as a comparative in the FY2023 return. No FY2026 IRS original was acquired for this review.

IRS financial history: income-tax-basis returns

All three returns select “Other” as the accounting method. FY2023 and FY2024 abbreviate the description as “INCOME TAX B”; FY2025 says “INCOME TAX BASIS.” Neither the cash nor accrual checkbox is selected. These are the returns’ stated income-tax-basis measures; they should not be relabeled GAAP or spliced into the LM-2 cash series.

Across FY2023–FY2025, expenses exceed revenue by $6,718,898. Net assets fall from $19,154,685 at March 31, 2022 to $12,518,570 at March 31, 2025, a decrease of $6,636,115 (34.6%). The returns’ net unrealized investment gains across the three years total $82,783 and reconcile the difference between those two changes. Revenue rises 13.7% from FY2023 to FY2025, while expenses rise 22.8%; these historical changes do not by themselves predict future results.

The FY2022 revenue and expense amounts are prior-year comparatives in the FY2023 return; the March 2022 balances are its beginning balances. They were not checked against a separately acquired FY2022 return.

Sources: FY2023 original, Parts I, X, XI and XII; FY2024 original, Parts I, X, XI and XII; FY2025 original, Parts I, X, XI and XII.

Why the two reporting series need a bridge

For FY2025, LM-2 disbursements are $14,146,427, while Form 990 expenses are $16,417,076. Year-end net assets are $12,650,781 on the LM-2 series and $12,518,570 on Form 990, a $132,211 difference. Timing, classifications and noncash items require a reconciliation before causes can be assigned. A difference between forms is not, on its own, a demonstrated reporting error.

Sources: FY2025 LM-2, Statements A–B; previous site transcription, body not refreshed; FY2025 original, Parts I, X and XI.

Costs and compensation periods

These are selected expense rows, not an additional total. The Part I salary/compensation/benefits aggregate is reported within Part IX’s other-salaries row. Do not add Part VII officer pay to it. “Other professional fees” cannot all be relabeled legal expense. The negative $863 accounting entry is retained as filed; its explanation was not established.

Sources: FY2023 original, Parts I and IX; FY2024 original, Parts I and IX; FY2025 original, Parts I and IX.

Form 990 Part VII uses calendar-year compensation

The four-officer total increases 34.7% from calendar 2023 to calendar 2024. APFA’s July 2025 fiscal-year explanation attributes higher pay to the CBA wage increase, retroactive pay and profit sharing. That explanation provides context; it does not reconcile the calendar-year tax figures to fiscal-year LM-2 amounts.

The returns report zero compensation for Base Presidents in Part VII. This does not establish that base officers performed unpaid union work: airline payloss arrangements and the scope of the return require a separate reconciliation.

Sources: FY2023 original, Part VII; FY2024 original, Part VII; FY2025 original, Part VII; 2024 Form 990 instructions, Part VII calendar-year reporting; July 9, 2025 treasurer update, compensation explanation.

LM-2 compensation is a different fiscal-period measure

These officer and employee disbursements are allocated within the LM-2 functional categories. Adding them again to Schedules 15–19 would count the allocated amounts twice. The fiscal period overlaps portions of two calendar years; it is not an equal-period substitute for any column of Part VII above.

Sources: FY2024 LM-2, Schedules 11–12, PDF pages 15–36; Functional allocations, PDF page 38.

Guide to reading the LM-2

APFA’s report describes the reporting union’s finances. It does not present the CWA-AFA sector/MEC/LEC reporting structure or establish a separate treasury for each APFA base. Each schedule should be read with its reporting period, definitions and explanations.

Sources: FY2024 report body: header, Statements A–B, Schedules 1–20 and Item 69; March 27, 2025 OLMS letter, APFA classification.

LM-2 yearly detail: FY2023–FY2025

Column status: FY2024 was checked against the complete 54-page mirror. FY2023 and FY2025 retain the previous site’s transcriptions because fresh full bodies were unavailable. FY2023 closing balances match FY2024 opening balances; APFA’s July 2026 update repeats selected FY2025 headline totals. Other FY2023/FY2025 details have not been independently refreshed.

Sources: FY2023 report 869753, Statement A; previous site transcription; FY2024 report, Statement A, PDF page 3; FY2025 report 919382, Statement A; previous site transcription; July 2026 corroboration of FY2025 headline balances.

Sources: FY2023 Statement B; previous site transcription; FY2024 Statement B, PDF page 4; functional detail page 38; FY2025 Statement B; previous site transcription; July 2026 corroboration of FY2025 receipts, disbursements and dues.

The item 43 and item 60 row names are the form’s combined labels. FY2024 Schedule 3 specifically calls its $739,157 “Net GAIN FROM SALE OF SECURITIES,” with zero cost/book value shown. FY2024 Schedule 4’s $463,547 consists entirely of fixed-asset purchases. The combined labels should not override those details.

Sources: FY2024 Schedules 3–4, PDF pages 7–8.

The historical February 2028 field in FY2024 is not the current election calendar. The current Constitution provides three-year national terms, and APFA’s corrected notice schedules national and base elections in 2027. An “outside audit or review” response in the LM-2 does not substitute for inspecting the auditor’s actual report.

Sources: Current Constitution, Article VI; Corrected 2027 election notice, October 14, 2026.

FY2026 announced results

APFA announced on July 2, 2026 that its LM-2 for April 1, 2025–March 31, 2026 had been filed June 30. The following values were verified against that public announcement. The actual FY2026 LM-2 body, exact report ID and schedules remain unverified.

Against the announced FY2025 comparison, cash increases $709,527 and net assets increase $315,711. Derived liabilities increase $624,547. These changes do not establish that every investment balance is unrestricted or that recurring operating revenue covers every ongoing cost.

Sources: July 2, 2026 update, Financial Performance; liabilities and changes calculated from announced totals.

Sources: July 2, 2026 update, external and internal reimbursements.

The announcement scheduled independent-audit fieldwork for August 2026 and later member-only publication. This review did not acquire the resulting audit report and does not describe the announced figures as independently audited results.

Representational spending and its limits

Named payments total $743,971; adding $45,808 of all other disbursements gives $789,779 of nonpersonnel representation spending. Officers and employees are already included in the total. The category includes union-wide activity and does not show which base received a particular service.

Neither percentage measures local service delivery, effectiveness or a per-base funding allocation. Spending already reported during the year is not a maximum pool still available for future cases. The detailed FY2024 page replaces the earlier “local representation yield” interpretation with the actual denominators and schedule components.

Sources: FY2024 Statement B, PDF page 4; Schedule 15 summary, PDF page 38.

Explore the FY2024 representation detail.

Payloss, benefits and related payees

The CBA’s union-business provisions and APFA’s representative-compensation rules provide the framework for release from flying and reimbursement. The LM-2 lines labeled “American Airlines Payloss” are receivable/payable balances at the reporting date; they do not by themselves measure annual compensation or all payloss activity.

FY2024 balances were checked in the report copy; FY2023/FY2025 amounts retain the previous site transcription and the source limits described above. Invoices, settlements and a carrier-to-union rollforward would be needed to explain the balances fully.

Sources: FY2024 Schedules 1 and 8, PDF pages 5 and 12; FY2023 Schedules 1 and 8; previous site transcription; FY2025 Schedules 1 and 8; previous site transcription; 2024 CBA, Section 32, Union Business; March 2026 Policy Manual, Sections 5–6.

Benefits in the inspected FY2024 report

The descriptions principally concern staff insurance and staff/officer retirement. They do not establish a general benefit payment to APFA’s entire membership.

Sources: Schedule 20, PDF page 51.

CWA-AFA payments and the year-end payable

Schedule 15 names “AFA-CWA” for legal representation: $55,002 dated June 27, 2023 and $92,661 dated February 5, 2024, totaling $147,663. Schedule 8 separately lists a $92,661 year-end payable under “CWA-AFA.” These are the source’s printed labels. Without invoices, payment evidence and a payable rollforward, the matching amount does not establish duplicate payment, a settlement or a completed reconciliation to the other union’s reports.

Sources: Schedule 15, PDF page 40; Schedule 8, PDF page 12.

Dues decisions and internal funds

The current Constitution states $41 regular monthly dues. Dues increases require the specified membership vote; assessments require the specified Board approval and membership ratification. The rule allocating 25% of ratified dues increases does not mean that 25% of all dues is allocated that way.

Sources: Article IV, Sections 1–2; PDF pages 37–38.

The 2024 proposal would have aligned monthly dues with the sixth-year flight-attendant hourly rate, then $53.67. Final results published January 17, 2025 rejected that proposal and the separate NNRF and payment-incentive proposals. Archived advocacy is not current adopted policy.

Measures 2 and 3 each report 11,518 voters; measure 1 reports 11,519. The totals are preserved as published.

Sources: January 17, 2025 final results, linked ballot-result graphics; 2024 dues-restructure archive, proposed first ballot.

How internal funds support the operating account

APFA’s 2025–2026 updates call NNRF the Negotiations and Negotiations-Related Fund. The 2022 investment-policy resolution uses the singular wording “Negotiations and Negotiation-Related Fund” and describes withdrawals for eligible negotiation expenses reimbursing the APFA operating account, subject to its resolution and officer-approval controls. APFA’s July 2025 explanation distinguishes the restricted NNRF accounts from special-activity funds housed in a nonrestricted investment account. “Nonrestricted” in that description does not establish the current amount available for any use.

These internal reimbursements identify which APFA resources support costs. They are not new receipts from an outside party and do not remove the underlying union-wide expense. IRS donor-restriction terminology also differs from restrictions imposed by union policy; a return’s absence of donor-restricted net assets does not make every account available for general operations.

Sources: March 9, 2022 investment policy, PDF pages 2–3; July 9, 2025 treasurer update, NNRF and Special Activity Funds; FY2025 Form 990, Part X.

FY2021–FY2022 are included only to preserve the source chart’s fund-history comparison. No special-fund component is labeled for those years, so it is not assigned a zero. Underlying fund ledgers and a current restricted/unrestricted balance reconciliation were not acquired.

Sources: July 9, 2025 update, Reimbursements by Fund Type (FY2021–FY2025) graphic.

Base budgets, paid release and the FY2027 plan

Base representation operates within APFA’s union-wide budgeting and representative-compensation framework. Base headcount rules govern paid release; they do not create a documented dollar allocation to every Base Council Representative or a separate annual financial filing for each base.

The March 2026 Policy Manual uses one full-month trip removal per 1,150 flight attendants, prorated above that level. A base below the threshold receives one, subject to the stated annual review and smaller-base conditions; the calculation excludes furloughed flight attendants. Payment or trip removal charged to a base budget requires the Base President’s authorization. The constitutional BCR seat rule is a separate measure of authorized positions.

Sources: Section 5.C.8.a(2), printed page 5.6 / PDF page 64; Article III, Section 7, BCR positions.

Sources: Section 5 revision history, printed page 5.32 / PDF page 90.

FY2027 budget: April 1, 2026–March 31, 2027

APFA describes reductions in selected headquarters, national-department, committee and specialist budgets, with potential effects on response and support. These are budget plans and warnings, not verified full-year spending or service outcomes. The published base graphic contains headcount arithmetic inconsistencies listed below, so its row counts should not be treated as a validated membership trend.

Sources: March 20, 2026 update, FY2027 budget and base-budget graphic.

The original FY2025 site analysis also transcribed a $62,382 election-service expense labeled “2025 BASE REPRESENTATIVE.” That schedule item was not independently refreshed in this review. It should not be converted into annual BCR compensation or a per-BCR funding amount.

Sources: FY2025 report 919382, election-service entry previously transcribed on this site; complete body not refreshed.

See Representation for BCR seats, base offices and paid-release distinctions.

PAC reporting: a separate committee and reporting cycle

The Association of Professional Flight Attendants (APFA PAC) Political Action Committee is identified by the FEC as C00246421, a qualified labor-organization PAC registered June 27, 1990. Its election-cycle figures are separate from APFA’s April–March union financial series.

Both cash rollforwards reproduce. The FEC profile labels all disbursements in these periods “Transfers to affiliated committees” and shows zero in “Contributions to other committees.” This page preserves the displayed classification. The underlying filed forms and recipient relationships were not independently reviewed, so the label does not establish money returning to APFA’s treasury or organizational affiliation of individual recipients.

These are fresh official profile summaries, not a review of all original and amended filings. The latest filing ID and complete amendment history remain unverified. The October 14, 2026 coverage supersedes the older March 31 snapshot formerly shown here. PAC totals must not be added to union LM-2 or Form 990 totals.

Sources: FEC cycle 2024 profile; native capture October 23, 2026, 15:19 UTC; FEC cycle 2026 profile; native capture October 23, 2026, 15:13 UTC.

Reporting questions and source arithmetic

These observations identify specific records or explanations needed to reconcile the published information. They do not assign a cause where the supporting records were not acquired.

Sources: FY2023 original, Parts VI, VII, IX and XII; FY2024 original, Parts VI, VII, IX and XII; FY2025 original, same Parts and Schedule J; 2024 Form 990 instructions, Part VI definitions, printed page 23; Constitution, Articles II–IV and VI.

Corrections to source arithmetic require an authoritative explanation or the underlying ledger. This page preserves the published amounts and shows the calculation; it does not silently rewrite an original source.

Member records and remaining evidence

On June 18, 2026 APFA said its annual budget was available in the members-only area and announced a phased rollout of representative paid/worked-hours reports, interactive budget-versus-actual reporting and special-fund reporting. The public announcement was inspected; the authenticated reports and completion of later phases were not. The public financial landing page requires login, which does not establish that the records are absent for members.

The Constitution and Policy Manual provide member access routes through the Base President or National Treasurer. Those routes and the public filing record should be kept distinct when discussing transparency.

Sources: June 18, 2026 reporting announcement; APFA financials member landing page; Article II, Section 3.B; Section 7.G.1, printed page 7.3 / PDF page 107.

• Government-hosted FY2026 LM-2 identity, full body, attachments and amendment history remain outstanding; FY2023/FY2025 full bodies also need refreshing.
• Actual audit reports, investment/fund rollforwards, restrictions, budget-versus-actual reports and payloss settlements are needed to reconcile financial capacity and internal funding.
• The bridge among the income-tax-basis returns, LM-2 cash reporting and audited statements remains incomplete.
• Original PAC filings and amendments are needed before interpreting recipient relationships or the profile’s disbursement classification.

The available records show union-wide finances and base-budget mechanisms. They do not establish a per-BCR dollar return or the amount and quality of service delivered at an individual base. Those questions require operational evidence such as authorized positions, filled roles, paid/worked hours, cases and outcomes.