2019-11-07T15:17:16-06:00 2018-12-31 540975470 HOMES LOWRY HORN & JOHNSON LTD 3998 FAIR RIDGE DRIVE SUITE 360 FAIRFAX VA 220332907 990 2018-01-01 530213841 AMERICAN ARMED FORCES MUTUAL AID ASSOCIATION AMER 7035223060 102 SHERIDAN AVENUE FORT MYER VA 22211 WALTER R LINCOLN PRESIDENT 7035223060 2019-11-05 1 GAIL E CHAMBERS P00631932 7032814880 2019-11-05 66.77.128.118 2019-11-05 07:24:25 ES P 0654AE0EB7D4BCCB6DC32769383F638ABD3914A3 212AE90FD2E722A5A6C61266BF3AEC362E6CC28E 2018 2020-03-31 21:24:44Z WALTER R LINCOLN 102 SHERIDAN AVENUE FORT MYER VA 22211 344251672 0 X WWW.AAFMAA.COM X 1879 VA THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO AID ITS MEMBERS AND FAMILIES IN A PROMPT, SIMPLE AND SUBSTANTIAL MANNER. 13 12 135 0 0 0 0 0 57545232 53782722 74368934 71654605 5863949 4879267 137778115 130316594 0 0 81097917 78114081 9600090 11099248 0 0 0 46042379 39995182 136740386 129208511 1037729 1108083 1295091899 1289114167 111175219 120870962 1183916680 1168243205 AAFMAA'S MISSION IS TO BE THE PREMIER PROVIDER OF INSURANCE, FINANCIAL AND SURVIVOR SERVICES TO THE AMERICAN ARMED FORCES COMMUNITY. 0 0 AAFMAA'S PRIMARY ACTIVITY IS TO PROVIDE LIFE INSURANCE FOR THOSE INDIVIDUALS WHO QUALIFY UNDER THE INTERNAL REVENUE CODE (IRC) SECTION 501(C)(23) DEFINITION, WHICH MEANS THEY MUST BE PRESENT OR PAST MEMBERS OF THE UNITED STATES ARMED FORCES OR THEIR FAMILY MEMBERS. IN ADDITION, AAFMAA PROVIDES ASSISTANCE TO MEMBERS WITH MILITARY BENEFITS, RETIREMENT PLANNING, VETERANS ADMINISTRATION (VA) CLAIM PROCESSING, AND DOCUMENT STORAGE IN BOTH ITS PHYSICAL AND DIGITAL VAULTS. IT ALSO PROVIDES SURVIVOR ASSISTANCE FOR FAMILIES OF MILITARY MEMBERS TO ENSURE THAT SURVIVING FAMILY MEMBERS OBTAIN THEIR LIFE INSURANCE BENEFITS, SOCIAL SECURITY BENEFITS, VA BENEFITS, AND ALL OTHER APPROPRIATE ENTITLEMENTS. AAFMAA WEALTH MANAGEMENT & TRUST LLC, FORMED IN 2012 AS A NORTH CAROLINA TRUST COMPANY AND REGULATED BY THE NORTH CAROLINA COMMISSIONER OF BANKS, PROVIDES FINANCIAL PLANNING, INVESTMENT MANAGEMENT, AND TRUST SERVICES TO THOSE QUALIFIED FOR AAFMAA SERVICES UNDER IRC SECTION 501(C)(23). AAFMAA MORTGAGE SERVICES LLC, FORMED IN 2016 AND REGULATED BY THE NORTH CAROLINA COMMISSIONER OF BANKS, OFFERS VETERAN ADMINISTRATION (VA), FEDERAL HOUSING ADMINISTRATION (FHA), CONVENTIONAL AND OTHER RESIDENTIAL MORTGAGE PRODUCTS TO THOSE QULIFIED FOR AAFMAA SERVICES UNDER SECTION 501(C)(23). 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1640 0 135 1 0 0 0 0 0 0 0 0 X 13 12 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X ASSOCIATION 7035223060 102 SHERIDAN AVENUE FORT MYER VA 22211 DENNIS J REIMER CHAIRMAN OF THE BOARD 2.00 X 0 0 0 MAJ WALTER R LINCOLN PRESIDENT AND TREASURER 35.00 X X 605973 0 36793 BG MACK C HILL CHAIRMAN, AUDIT SUBCOMMITTEE 2.00 X 0 0 0 ROBIN H BOUDIETTE DIRECTOR, MMBERSHIP COMMITTEE 2.00 X 0 0 0 CMSGT LEWIS E MONROE DIRECTOR,MMBERSHIP COMMITTEE 2.00 X 0 0 0 COL DENNIS D PORTER DIRECTOR, FINANCE COMMITTE 2.00 X 0 0 0 CMSGT JOHN T RIDGE DIRECTOR, FINANCE COMMITTE 2.00 X 0 0 0 COL WILSON A BUD SHATZER JR DIRECTOR,MMBERSHIP COMMITTEE 2.00 X 0 0 0 BRIG GEN JONATHAN D GEORGE DIRECTOR,MMBERSHIP COMMITTEE 2.00 X 0 0 0 RADM JANICE M HAMBY VICE CHAIR, MMBERSHIP COMMITTEE 2.00 X 0 0 0 BG WILLIAM M MATZ CHAIRMAN, FINANCE COMMITTE 2.00 X 0 0 0 LTG JOHN A DUBIA CHAIRMAN,MMBERSHIP COMMITTEE 2.00 X 0 0 0 COL ELIZABETH J STRINES DIRECTOR, FINANCE COMMITTE 2.00 X 0 0 0 MICHAEL J MEESE EVP & SECRETARY 40.00 X 311712 0 31139 CARLOS PEREZ JR COO & ASSISTANT SECRETARY 40.00 X 198438 0 23599 CHARLENE G WILDE ASSISTANT SECRETARY 40.00 X 92780 0 5207 JAMES M MALLEY PRESIDENT, AAFMAA MORTGAGE 40.00 X 260035 0 28190 RICHARD CONVY PRESIDENT,AAFMAA WEALTH MGT 40.00 X 311233 0 28721 STEPHEN MANNELL CFO, AAFMAA WEALTH MGT 40.00 X 255391 0 12003 KEVIN KINCAID CHIEF MARKETING OFFICER 40.00 X 175251 0 39290 ANTHONY POWELL CHIEF OPERATING OFFICER 40.00 X 176367 0 32590 CARRIE L CLARK EXECUTIVE VP,AAFMAA WEALTH 40.00 X 197117 0 32771 GARY N AIKEN CHIEF ANALYST & RISK MANAG 35.00 X 175998 0 32640 CHARLES B BETANCOURT COO, AAFMAA PROPERTY 40.00 X 141206 0 13331 ROSS H CUTLER VP,AAFMAA WEALTH MGMT 40.00 X 171836 0 7733 KEVIN W HOLTON PRODUCING BRANCH MANAGER 40.00 X 193729 0 35172 ARTHUR LYONS CHIEF INVESTMENT OFFICER 40.00 X 160200 0 8960 3427266 0 368139 15 0 1 0 METROSTAR SYSTEMS 1856 OLD RESTON AVE RESTON VA 20190 IT SERVICES 3954483 NAVAL ACADEMY ATHLETIC ASSOCIATION 566 BROWNSON ROAD ANNAPOLIS MD 21402 ADVERTISING 202800 2 PREMIUM REVENUE 524113 53288810 53288810 GAIN ON SALE OF MORTGAGES 524113 286298 286298 MEMBERSHIP FEES FOR SERVICES 524113 207614 207614 53782722 59801684 59801684 11082796 10887632 195164 195164 195164 214900367 203047446 11852921 11852921 11852921 INVESTMENT MANAGEMENT INCOME 524113 4266633 4266633 CONSIDERATION FOR SUPPLEMENTAL CO 524113 368201 368201 LOAN FEES 524113 47500 47500 1769 1769 4684103 130316594 130316594 0 0 78114081 3795407 5948204 282755 479887 592995 74273 95752 1050544 2782510 1910046 3146121 1050481 88834 162134 58311 1759537 215666 CHANGE IN RESERVES 14357286 OTHER EXPENSES 6364523 INVESTMENT EXPENSE 5401469 BAD DEBT ON LOANS 1297306 180389 129208511 7391137 6788141 34126696 26356866 2522057 7921827 365341 283273 147723274 20715924 119417916 127007350 860305325 851985211 258518844 257913219 12444583 10858280 1295091899 1289114167 3930492 1198727 1782194 1849604 105462533 117822631 111175219 120870962 X 0 0 0 0 1183916680 1168243205 1183916680 1168243205 1295091899 1289114167 X 1108083 -16781558 X X 0 1 X 0 0 32531874 32531874 76105168 6936791 69168377 36042586 12636828 23405758 3043646 1142305 1901341 127007350 POLICY LOANS 25392438 C MORTGAGE LOANS INVEST 214924971 C CAP LOANS 17595810 C 257913219 DEATH BENEFITS PAYABLE 23129145 SETTLEMENT OPTIONS PAYABLE 36833641 PAYABLE FOR SECURITIES 54086962 OTHER LIABILITIES 6718 AMS LINE OF CREDIT 560975 OTHER CURRENT LIABILITIES 3205190 117822631 X 114165186 10887629 10887629 103277557 27039037 27039037 130316594 113057103 10887629 10887629 102169474 27039037 27039037 129208511 PART X, LINE 2: ALTHOUGH THE ASSOCIATION IS TAX EXEMPT, IT STILL EVALUATES UNCERTAINTY IN INCOME TAX POSITIONS BASED ON A "MORE-LIKELY-THAN-NOT" RECOGNITION STANDARD. IF THAT THRESHOLD IS MET, THE TAX POSITION IS THEN MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON ULTIMATE SETTLEMENT. AS OF DECEMBER 31, 2018, THE ASSOCIATION HAS EVALUATED ITS MATERIAL TAX POSITIONS AND DETERMINED THAT NO ACCRUALS FOR UNCERTAIN TAX POSITIONS ARE REQUIRED ON THE ASSOCIATION'S FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 10,887,629. PART XI, LINE 4B - OTHER ADJUSTMENTS: NET ADJUSTMENT FOR SUBSIDIARY INCOME AND EXPENSES 18,884,486. INVESTMENT EXPENSES 8,154,551. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 10,887,629. PART XII, LINE 4B - OTHER ADJUSTMENTS: NET ADJUSTMENT FOR SUBSIDIARY INCOME AND EXPENSES 18,884,486. INVESTMENT EXPENSES 8,154,551. X X 0 0 0 MAJ WALTER R LINCOLN PRESIDENT AND TREASURER 480973 0 125000 0 0 0 27500 0 9293 0 642766 0 0 0 MICHAEL J MEESE EVP & SECRETARY 308362 0 3350 0 0 0 27500 0 3639 0 342851 0 0 0 CARLOS PEREZ JR COO & ASSISTANT SECRETARY 196438 0 2000 0 0 0 20067 0 3532 0 222037 0 0 0 JAMES M MALLEY PRESIDENT, AAFMAA MORTGAGE 240035 0 20000 0 0 0 11908 0 16282 0 288225 0 0 0 RICHARD CONVY PRESIDENT,AAFMAA WEALTH MGT 265274 0 45959 0 0 0 13121 0 15600 0 339954 0 0 0 STEPHEN MANNELL CFO, AAFMAA WEALTH MGT 227816 0 27575 0 0 0 10271 0 1732 0 267394 0 0 0 KEVIN KINCAID CHIEF MARKETING OFFICER 157033 0 18218 0 0 0 18122 0 21168 0 214541 0 0 0 ANTHONY POWELL CHIEF OPERATING OFFICER 161367 0 15000 0 0 0 8211 0 24379 0 208957 0 0 0 CARRIE L CLARK EXECUTIVE VP,AAFMAA WEALTH 169542 0 27575 0 0 0 9136 0 23635 0 229888 0 0 0 GARY N AIKEN CHIEF ANALYST & RISK MANAG 136342 0 39656 0 0 0 18336 0 14304 0 208638 0 0 0 CHARLES B BETANCOURT COO, AAFMAA PROPERTY 111767 0 29439 0 0 0 6599 0 6732 0 154537 0 0 0 ROSS H CUTLER VP,AAFMAA WEALTH MGMT 166109 0 5727 0 0 0 7733 0 0 0 179569 0 0 0 KEVIN W HOLTON PRODUCING BRANCH MANAGER 45692 0 148037 0 0 0 6589 0 28583 0 228901 0 0 0 ARTHUR LYONS CHIEF INVESTMENT OFFICER 128032 0 32168 0 0 0 7228 0 1732 0 169160 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE AAFMAA CONSTITUTION SPECIFIES THAT THE MEMBERS OF THE BOARD OF DIRECTORS ARE ELECTED FROM AND BY THE MEMBERS OF THE ASSOCIATION AT THE ANNUAL MEETING, EACH OF WHOM ARE ELECTED FOR FOUR-YEAR TERMS (WITH ROUGHLY ONE-FOURTH OF THE DIRECTORS BEING ELECTED EACH YEAR). BETWEEN ANNUAL MEETINGS, THE AAFMAA CONSTITUTION SPECIFIES THAT ANY VACANCY MAY BE FILLED BY A MAJORITY VOTE OF THE BOARD. ANY PERSON SO APPOINTED BY THE BOARD WOULD ONLY SERVE UNTIL THE NEXT ANNUAL MEETING, UNLESS HE OR SHE IS ELECTED BY THE MEMBERS AT THAT MEETING. IN PRACTICE, SUGGESTIONS FOR MEMBERS OF THE BOARD CAN COME FROM ANY MEMBER. THEY ARE CONSIDERED BY A NOMINATING COMMITTEE, CONSISTING OF MEMBERS, WHO WOULD THEN NOMINATE PERSONS TO BE VOTED UPON BY THE ENTIRE MEMBERSHIP AT THE ANNUAL MEETING (OR BY PROXY). FORM 990, PART VI, SECTION A, LINE 7B THE AAFMAA CONSTITUTION SPECIFIES THAT THE AFFAIRS OF THE ASSOCIATION SHALL BE MANAGED BY A BOARD OF ELEVEN OR MORE DIRECTORS, WHICH MEETS REGULARLY BOTH AS A BOARD IN ITS ENTIRETY AND IN SPECIFIC COMMITTEES, CURRENTLY THE MEMBERSHIP AND FINANCE COMMITTEES. THOSE COMMITTEES AND THE BOARD AS A WHOLE RECEIVE REPORTS AND MAKE DECISIONS ON BEHALF OF THE MEMBERS. THESE REPORTS AND DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED BY BOTH THE BOARD OF DIRECTORS AND THE COMMITTEES. DUTIES AND POWERS OF THE BOARD OF DIRECTORS AND COMMITTEES ARE SPECIFIED IN THE CONSTITUTION. THE AAFMAA CONSTITUTION CAN ONLY BE ALTERED OR AMENDED BY A TWO-THIRDS VOTE OF THE MEMBERS PRESENT OR PROPERLY REPRESENTED BY PROXY. SO MEMBERS APPROVE ANY DECISION OF THE ORGANIZATION THAT WOULD CONSTITUTE A CHANGE TO THE CONSTITUTION AND IT DELEGATES OVERSIGHT AUTHORITY FOR OTHER DECISIONS TO THE BOARD, WHICH IS ELECTED BY THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE AAFMAA CONTROLLER, EXECUTIVE VICE PRESIDENT, VP HUMAN RESOURCES, AND THE PRESIDENT REVIEW THE FORM 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C AAFMAA MAINTAINS A CONFLICT OF INTEREST STANDARD AND POLICY FOR DIRECTORS, CONSISTENT WITH THE VIRGINIA NONSTOCK CORPORATION ACT. TO RETAIN THEIR LIABILITY PROTECTION AND INDEMNIFICATION, DIRECTORS MAY NOT PARTICIPATE IN A "CONFLICT OF INTEREST TRANSACTION" AS A "NON-DISINTERESTED DIRECTOR". ANY DIRECTOR WHO BECOMES NON-DISINTERESTED MUST ADVISE THE OTHER DIRECTORS THAT HE OR SHE IS NON-DISINTERESTED WITH RESPECT TO THE APPLICABLE MATTER AND RECUSE HIMSELF OR HERSELF FROM VOTING IN ANY BOARD OR COMMITTEE MEETING ON ANY ACTION REGARDING AAFMAA AND THE APPLICABLE MATTER. THIS POLICY IS PROVIDED TO DIRECTORS AT EVERY JUNE BOARD MEETING THROUGH A MEMORANDUM FROM AAFMAA'S GENERAL COUNSEL. WITHIN THE MEMORANDUM THE GENERAL COUNSEL PROVIDES SPECIFIC GUIDANCE ON THE POLICY SO THAT DIRECTORS CAN RELY ON IT AS LEGAL ADVICE. FORM 990, PART VI, SECTION B, LINE 15A AAFMAA RETAINED AN INDEPENDENT COMPENSATION CONSULTANT TO REVIEW THE COMPENSATION OF THE PRESIDENT AND TREASURER AND COMPARE IT TO COMPENSATION SURVEY DATA FROM PARALLEL POSITIONS IN OTHER SIMILAR SIZE ASSOCIATIONS. THE PRESIDENT AND TREASURER'S SALARY FOLLOWS A METHOD ESTABLISHED SPECIFICALLY FOR THIS POSITION. IT IS REVIEWED AND APPROVED ANNUALLY BY THE CHAIRMAN OF THE BOARD. FOR ALL OTHER EMPLOYEES, THE PROCESS INCLUDES ANNUAL, WRITTEN REVIEWS AND PAY INCREASES DEPENDING UPON PERFORMANCE APPRAISALS. PAY INCREASES ARE WITHIN RANGES INITIALLY ESTABLISHED BY EXTERNAL COMPENSATION CONSULTANTS. RANGES ARE UPDATED ANNUALLY FOR INFLATION BUT NOT ANNUALLY FOR COMPARABILITY. RATINGS ARE COMPLETED CONTEMPORANEOUSLY AND FILED IN INDIVIDUAL PERSONNEL RECORDS. THIS PROCESS APPLIES TO ALL, NOT JUST OFFICERS OR KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 A COPY OF THE CONSTITUTION IS GIVEN TO EACH MEMBER WHEN HE/SHE JOINS THE ASSOCIATION. ANNUAL REPORT INCLUDING AUDITED FINANCIAL INFORMATION IS SENT TO EACH MEMBER EACH YEAR. THE IRS FORM 990 IS PROVIDED TO THE PUBLIC UPON REQUEST IN ACCORDANCE WITH THE 1996 TAXPAYERS BILL OF RIGHTS. FORM 990, PART XI, LINE 9: INSURANCE & OTHER RESERVES INCREASES 18,133,613. INTEREST MAINTENANCE RESERVE DECREASE -4,440,603. CHANGE IN UNREALIZED APPRECIATION OF EQUITY SECURITIES -26,088,086. INCREASE IN NON-ADMITTED ASSETS -3,878,304. INCREASE IN LTC LIABILITY -137,011. DECREASE IN ACCRUED POST-RETIREMENT BENEFITS 6,805. DECREASE IN OTHER COMPREHENSIVE INCOME -377,972. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 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