2019-11-13T16:24:57-06:00 2018-12-31 521446779 JOHNSON LAMBERT LLP 4242 SIX FORKS ROAD SUITE 1500 RALEIGH NC 27609 990 2018-01-01 530116720 NAVY MUTUAL AID ASSOCIATION NAVY 8006286011 29 CARPENTER RD - HENDERSON HALL ARLINGTON VA 22212 BRUCE B ENGELHARDT PRESIDENT 7036141638 2019-11-13 1 J CALVIN MARKS P01226973 9197196400 34.206.232.202 2019-11-13 16:24:53 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 9C238F1B6484ABD2E08FB3ED1A4A2692AD2A909B 2018 2020-01-14 16:20:31Z BRUCE B ENGELHARDT 29 CARPENTER RD - HENDERSON HALL ARLINGTON VA 22212 463857472 0 X WWW.NAVYMUTUAL.ORG X 1879 VA AND FORM 990, PART III, LINE 1:TO PROVIDE MEMBERS OF THE NAVY, MARINES, COAST GUARD, NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION, PUBLIC HEALTH SERVICE, AND HONORABLY DISCHARGED VETERANS (COLLECTIVELY THE "UNIFORMED SERVICES") LIFE INSURANCE AT AS NEAR THE ACTUAL NET COST AS POSSIBLE; ASSIST UNIFORMED SERVICE MEMBERS AND THEIR FAMILIES IN SECURING FEDERAL BENEFITS TO WHICH THEY MAY BE LEGALLY ENTITLED; AND EDUCATE UNIFORMED SERVICE MEMBERS AND THEIR FAMILIES ON MATTERS OF FINANCIAL SECURITY. 16 15 158 17 0 0 0 0 81649893 78687119 176341724 170472728 1124009 1070184 259115626 250230031 0 0 147772949 159981710 19278989 20836871 0 0 0 81677014 68022151 248728952 248840732 10386674 1389299 3076919282 3124123706 2772713522 2817302355 304205760 306821351 SEE SCHEDULE O 0 0 THE NAVY MUTUAL AID ASSOCIATION ("NAVY MUTUAL") IS A MUTUAL AID ASSOCIATION THAT CONSERVATIVELY MANAGES ITS ASSETS TO PAY PROMISED LIFE INSURANCE BENEFITS TO ITS MEMBERS AND THEIR BENEFICIARIES. NAVY MUTUAL'S BENEFIT PLANS ARE DESIGNED AT AS NEAR ACTUAL NET COST AS POSSIBLE IN ORDER TO PROVIDE MEMBERS OF THE UNIFORMED SERVICES WITH LIFE INSURANCE COVERAGE THAT IS NOT LIMITED BY WAR, TERRORISM, OR AVIATION CLAUSES. NAVY MUTUAL'S INSURANCE IS NOT SUBJECT TO LIMITS ON COVERAGE BASED ON ACTIVE DUTY STATUS OR GEOGRAPHICAL LOCATION. AS A FEDERALLY RECOGNIZED VETERANS SERVICE ORGANIZATION, NAVY MUTUAL PRESENTS EDUCATIONAL PROGRAMS TO MEMBERS OF THE UNIFORMED SERVICES AND THEIR FAMILIES IN ORDER TO ASSIST THEM IN UNDERSTANDING MILITARY SURVIVOR BENEFITS. AS A FEDERALLY RECOGNIZED VETERANS SERVICE ORGANIZATION, NAVY MUTUAL PROVIDES BENEFICIARY ASSISTANCE AND COUNSELING TO ASSIST MEMBERS' SURVIVORS THROUGH THE DEATH PROCESS AND TO HELP SECURE THE FEDERAL BENEFITS TO WHICH THEY MAY BE ENTITLED. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 6659 0 1 158 1 0 0 0 0 0 0 0 0 X 16 15 0 0 0 0 1 1 0 1 1 0 0 1 1 0 1 1 1 1 1 0 X ADAM MULLINS 8006286011 29 CARPENTER ROAD-HENDERSON HALL ARLINGTON VA 22212 RADM JOHN LUECKE CHAIR 1.00 X X 0 0 0 ERIC CANDELORI VICE CHAIR 1.00 X X 0 0 0 BGEN PETER B COLLINS DIRECTOR 1.00 X 0 0 0 CAPT ANTHONY COOPER DIRECTOR 1.00 X 0 0 0 CHRISTOPHER DEAN DIRECTOR 1.00 X 0 0 0 ADM JONATHAN GREENERT DIRECTOR 1.00 X 0 0 0 RADM CHRISTINE HUNTER DIRECTOR 1.00 X 0 0 0 MAJ GEN CARL JENSEN DIRECTOR (TO APR '18) 1.00 X 0 0 0 CAPT CATHERINE MULE DIRECTOR 1.00 X 0 0 0 CAPT NITA SOOD DIRECTOR 1.00 X 0 0 0 VADM STAN SZEMBORSKI DIRECTOR 1.00 X 0 0 0 RADM CARI B THOMAS DIRECTOR 1.00 X 0 0 0 RDML FRANK THORP IV DIRECTOR 1.00 X 0 0 0 LT GEN GEORGE J TRAUTMAN III DIRECTOR 1.00 X 0 0 0 GEN MIKE WILLIAMS DIRECTOR 1.00 X 0 0 0 VADM ANTHONY WINNS DIRECTOR 1.00 X 0 0 0 RADM BRUCE ENGELHARDT PRESIDENT 40.00 X X 738424 0 95199 STEPHEN PIETROPAOLI CHIEF OPERATING OFFICER 40.00 X 336818 0 100944 DAVID FRIDELL CHIEF FINANCIAL OFFICER (TO APR '18) 40.00 X 250724 0 34263 BRIAN LUTHER CHIEF STRATEGY OFFICER 40.00 X 228792 0 10037 SANGEETA JACOB SENIOR VP, OPERATIONS AND SOLUTIONS & TECHNOLOGY 40.00 X 326583 0 97488 LAUREN BLOOM GENERAL COUNSEL / VP, GOVERNMENT AFFAIRS 40.00 X 281342 0 119081 JAMIE MALTESE VP, INVESTMENTS 40.00 X 280590 0 85010 MIRANDA DEDJA VP, HR, FACILITIES & ADMINISTRATION 40.00 X 277874 0 80277 ADAM MULLINS VP, FINANCE & ACCOUNTING 40.00 X 271876 0 83671 ROBERT HOLT VP, SALES 40.00 X 251653 0 69983 RYAN HUTCHISON SALES REPRESENTATIVE 40.00 X 189408 0 34117 CHRISTOPHER KURDLE DIRECTOR, UNDERWRITING 40.00 X 180363 0 100224 CHRISTINA MARINO DIRECTOR, CLAIMS & CUSTOMER SERVICE 40.00 X 189030 0 54501 CRAIG CRESSMAN DIRECTOR, EDUCATION & VETERAN SERVICES 40.00 X 165031 0 32647 RONALD CARTER PROJECT MANAGEMENT OFFICE LEADER 40.00 X 175230 0 42488 4143738 0 1039930 55 0 1 0 WHITE64 8603 WESTWOOD CENTER DRIVE 4TH FLO TYSONS VA 22182 ADVERTISING / MARKETING 1564892 QUINSTREET INC PO BOX 8398 PASADENA CA 91109 ADVERTISING / MARKETING 959181 ACCENTURE LLP 500 CAMPUS DRIVE SUITE 115 FLORHAM PARK NJ 07932 ALIP CONSULTING 934088 EXAMONE WORLD WIDE PO BOX 201392 DALLAS TX 75320 UNDERWRITING MEDICAL SERVICES 704343 EXAMONE INC PO BOX 201395 DALLAS TX 75320 UNDERWRITING MEDICAL SERVICES 657765 19 NET EARNED PREMIUM 524113 66429151 66429151 ANNUITY CONSIDERATIONS 524298 11467438 11467438 SURVIVOR INCOME DEPOSITS 524298 790530 790530 78687119 173252147 173252147 210848022 213627441 -2779419 -2779419 -2779419 AMORTIZATION OF IMR 524298 1070184 1070184 1070184 250230031 78687119 0 171542912 159981710 3574860 10428741 2180113 3730215 922942 327817 244429 560134 1768118 4250377 1459845 1391873 289194 252181 5793982 CHANGE IN LIFE RESERVE 50232214 MEDICAL EXPENSES 1522416 REINSURANCE 94159 -164588 248840732 58368745 70021643 199296 178936 169425914 169934206 50738754 50437663 622260 301091 2040565865 2057793633 776384646 795095705 31352556 30798492 3076919282 3124123706 30862676 35974948 1109251 1089354 26174 40164 2740715421 2780197889 2772713522 2817302355 X 304205760 306821351 304205760 306821351 3076919282 3124123706 X 1389299 -5319786 6546078 X 0 1 X 1 0 0 1 X 50738754 50437663 301091 301091 REAL ESTATE LIMITED PARTNERSHIP 12579 F PRIVATE PLACEMENT BONDS 795039382 F REAL ESTATE CONSOLIDATED CORP. & PARTNERSHIP 43744 F 795095705 RESERVE FOR LIFE CONTRACTS 2639041223 LIABILITY FOR DEPOSIT-TYPE CONTRACTS 103760556 ASSET VALUATION RESERVE 15905241 INTEREST MAINTENANCE RESERVE 10401456 EMPLOYEE BENEFITS 11089413 2780197889 241190111 -5319786 -5319786 246509897 3720134 3720134 250230031 244308430 0 244308430 3720134 812168 4532302 248840732 PART IV, LINE 2B: NMAA HOLDS AMOUNTS IN ESCROW FOR MEDICAL AND DEPENDENT CARE. PART XII, LINE 4B - OTHER ADJUSTMENTS: DIVIDENDS TO POLICY HOLDERS 812,168. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 42914000 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS 35589000 EUROPE 0 0 INVESTMENTS 121351000 MIDDLE EAST AND NORTH AFRICA 0 0 INVESTMENTS 29059000 NORTH AMERICA 0 0 INVESTMENTS 96900000 SOUTH AMERICA 0 0 INVESTMENTS 3124000 SOUTH ASIA 0 0 INVESTMENTS 4955000 0 0 0 0 0 0 333892000 0 333892000 0 0 0 0 0 1 X 1 1 X X X X X 0 0 0 RADM BRUCE ENGELHARDT PRESIDENT 405365 0 320000 0 13059 0 60214 0 34985 0 833623 0 0 0 STEPHEN PIETROPAOLI CHIEF OPERATING OFFICER 265038 0 70500 0 1280 0 82749 0 18195 0 437762 0 0 0 DAVID FRIDELL CHIEF FINANCIAL OFFICER (TO APR '18) 93141 0 157500 0 83 0 25269 0 8994 0 284987 0 0 0 BRIAN LUTHER CHIEF STRATEGY OFFICER 212838 0 500 0 15454 0 6664 0 3373 0 238829 0 0 0 SANGEETA JACOB SENIOR VP, OPERATIONS AND SOLUTIONS 239621 0 86500 0 462 0 55353 0 42135 0 424071 0 0 0 LAUREN BLOOM GENERAL COUNSEL / VP, GOVERNMENT AFF 279925 0 0 0 1417 0 89131 0 29950 0 400423 0 0 0 JAMIE MALTESE VP, INVESTMENTS 201896 0 78500 0 194 0 43233 0 41777 0 365600 0 0 0 MIRANDA DEDJA VP, HR, FACILITIES & ADMINISTRATION 197912 0 78500 0 1462 0 63915 0 16362 0 358151 0 0 0 ADAM MULLINS VP, FINANCE & ACCOUNTING 193189 0 78500 0 187 0 51901 0 31770 0 355547 0 0 0 ROBERT HOLT VP, SALES 181491 0 70000 0 162 0 52279 0 17704 0 321636 0 0 0 RYAN HUTCHISON SALES REPRESENTATIVE 88002 0 101255 0 151 0 16377 0 17740 0 223525 0 0 0 CHRISTOPHER KURDLE DIRECTOR, UNDERWRITING 144933 0 35000 0 430 0 59402 0 40822 0 280587 0 0 0 CHRISTINA MARINO DIRECTOR, CLAIMS & CUSTOMER SERVICE 153616 0 35000 0 414 0 38585 0 15916 0 243531 0 0 0 CRAIG CRESSMAN DIRECTOR, EDUCATION & VETERAN SERVIC 144617 0 20000 0 414 0 28969 0 3678 0 197678 0 0 0 RONALD CARTER PROJECT MANAGEMENT OFFICE LEADER 135616 0 39439 0 175 0 30665 0 11823 0 217718 0 0 0 PART I, LINE 1A SOCIAL CLUB DUES WERE PROVIDED TO THE PRESIDENT OF NAVY MUTUAL AID ASSOCIATION. THE ENTIRE COST OF $1,560 WAS TREATED AS TAXABLE INCOME TO THE RECIPIENT. FORM 990, PART VI, SECTION A, LINE 6 NMAA HAS A MEMBERSHIP OF APPROXIMATELY 105,000. ALL MEMBERS HAVE THE OPPORTUNITY EACH YEAR TO VOTE FOR BOARD MEMBERS, INCLUDING THE CHAIRMAN. ALL MEMBERS WILL SHARE IN THE PROFIT/NET ASSETS OF THE ORGANIZATION IN THE UNLIKELY EVENT OF A DISSOLUTION. FORM 990, PART VI, SECTION A, LINE 7A NAVY MUTUAL HOLDS ANNUAL ELECTIONS IN WHICH ITS MEMBERS VOTE TO FILL OPEN BOARD POSITIONS. BOARD TERMS ARE EACH THREE YEARS, AND BOARD MEMBERS CAN SERVE FOR A MAXIMUM OF THREE CONSECUTIVE TERMS. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF NAVY MUTUAL'S FORM 990 IS MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING WITH THE IRS. QUESTIONS ARE ANSWERED ON A TIMELY BASIS. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF NAVY MUTUAL'S BOARD OF DIRECTORS ANNUALLY DISCLOSE ANY CONFLICTS OF INTEREST IN WRITING. OUR LEGAL DEPARTMENT REVIEWS THE DISCLOSURE STATEMENTS TO ENSURE COMPLIANCE. WE POST OUR CODE OF ETHICS ON OUR INTRANET HOMEPAGE. BREACHING THE CODE OF ETHICS OR CONFLICT OF INTEREST POLICY IS GROUNDS FOR DISCIPLINE, UP TO AND INCLUDING TERMINATION. FORM 990, PART VI, SECTION B, LINE 15 MEMBERS OF NAVY MUTUAL'S BOARD CONSTITUTE OUR COMPENSATION COMMITTEE. THIS COMMITTEE MEETS 2 TIMES/YEAR TO DISCUSS AND ANALYZE THE PRESIDENT'S AND STAFFS' SALARY AND BONUS FOR THE FOLLOWING YEAR. THE COMMITTEE USES SEVERAL BENCHMARKS IN ITS DISCUSSION/ANALYSIS, INCLUDING AN INDEPENDENT NOT-FOR-PROFIT SALARY STUDY, AN INSURANCE COMPANY SALARY STUDY AND A LOCAL AREA SALARY STUDY. THE COMMITTEE ALSO UTILIZES AN OUTSIDE COMPENSATION CONSULTANT TO VERIFY COMPENSATION BY GRADE AND BY JOB DESCRIPTION FOR ALL EMPLOYEES, INCLUDING THE PRESIDENT. THIS COMPARABILITY STUDY IS CONDUCTED EVERY 3 YEARS FOR EMPLOYEES AND EVERY YEAR FOR THE PRESIDENT. THE RESULTS OF THE COMMITTEE'S ANALYSIS ARE PRESENTED TO THE FULL BOARD OF DIRECTORS FOR APPROVAL PRIOR TO IMPLEMENTATION. THE PRESIDENT'S COMPENSATION WAS LAST REVIEWED IN DECEMBER 2018. FORM 990, PART VI, SECTION C, LINE 19 ALL PUBLIC DOCUMENTS ARE AVAILABLE UPON REQUEST. A FINANCIAL STATEMENT SUMMARY IS INCLUDED IN NAVY MUTUAL'S ANNUAL REPORT, WHICH IS AVAILABLE ON-LINE. FORM 990, PART XI, LINE 9: CHANGE IN ASSET VALUATION RESERVE 4,714,121. CHANGE IN NON-ADMITTED ASSETS 2,440,500. CHANGE IN ADDITIONAL MINIMUM LIABILITY FOR POSTRETIREMENT BENEFITS -608,543.