2016-11-08T06:02:16-06:00 2015-12-31 521446779 JOHNSON LAMBERT LLP 4242 SIX FORKS RD STE 1500 RALEIGH NC 27609 990 2015-01-01 530116720 NAVY MUTUAL AID ASSOCIATION NAVY 8006286011 29 CARPENTER RD - HENDERSON HALL ARLINGTON VA 22212 BRUCE B ENGELHARDT PRESIDENT 7036141638 2016-11-07 1 JOHN HUSKINS P01081531 9197196400 2016-11-07 2015 2017-02-10 21:41:12Z BRUCE B ENGELHARDT 29 CARPENTER RD - HENDERSON HALL ARLINGTON VA 22212 516696381 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 "SEA SERVICES") LIFE INSURANCE AT AS NEAR THE ACTUAL NET COST AS POSSIBLE; ASSIST SEA SERVICE MEMBERS AND THEIR FAMILIES IN SECURING FEDERAL BENEFITS TO WHICH THEY MAY BE LEGALLY ENTITLED; AND EDUCATE SEA SERVICE MEMBERS AND THEIR FAMILIES ON MATTERS OF FINANCIAL SECURITY. 16 15 133 20 95458 -24759 0 0 77365810 80951286 171885759 197538058 1362303 1227741 250613872 279717085 0 0 129782126 138919469 12466256 13969844 0 0 0 98424860 88108927 240673242 240998240 9940630 38718845 2848318132 2925614194 2596577484 2660111593 251740648 265502601 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 SEA 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 CONGRESSIONALLY-CHARTERED VETERANS SERVICE ORGANIZATION, NAVY MUTUAL PRESENTS EDUCATIONAL PROGRAMS TO MEMBERS OF THE SEA SERVICES AND THEIR FAMILIES IN ORDER TO ASSIST THEM IN UNDERSTANDING MILITARY SURVIVOR BENEFITS. AS A CONGRESSIONALLY-CHARTERED 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 6806 0 1 133 1 1 1 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 GARY BLORE DIRECTOR 1.00 X 0 0 0 ERIC CANDELORI DIRECTOR 1.00 X 0 0 0 CHRISTOPHER DEAN DIRECTOR 1.00 X 0 0 0 CARL JENSEN DIRECTOR 1.00 X 0 0 0 JOHN LUECKE DIRECTOR 1.00 X 0 0 0 MICHAEL MCDANIEL DIRECTOR 1.00 X 0 0 0 CATE MUELLER DIRECTOR 1.00 X 0 0 0 STAN SZEMBORSKI DIRECTOR 1.00 X 0 0 0 FRANK THORP DIRECTOR 1.00 X 0 0 0 MIKE WILLIAMS DIRECTOR 1.00 X 0 0 0 PETER B COLLINS DIRECTOR (FROM 4/2015) 1.00 X 0 0 0 CATHERINE MULE DIRECTOR (FROM 4/2015) 1.00 X 0 0 0 ANTHONY WINNS DIRECTOR (FROM 4/2015) 1.00 X 0 0 0 MICHELLE DUNNING DIRECTOR (THRU 4/2015) 1.00 X 0 0 0 ERICA SCHWARTZ DIRECTOR (THRU 4/2015) 1.00 X 0 0 0 LEO WILLIAMS DIRECTOR (THRU 4/2015) 1.00 X 0 0 0 KATHLEEN MARTIN CHAIR 1.00 X X 0 0 0 MARK WILSON VICE CHAIR 1.00 X X 0 0 0 BRUCE ENGELHARDT PRESIDENT 40.00 X X 673556 0 91637 DAVID FRIDELL CHIEF FINANCIAL OFFICER 40.00 X 323071 0 66987 STEPHEN PIETROPAOLI CHIEF OPERATING OFFICER 40.00 X 286045 0 40981 MICHELLE BRICKWEDDE VP HR 40.00 X 278327 0 50439 JOHN MCVEIGH VP MARKETING & SALES 40.00 X 276176 0 42969 LAUREN BLOOM GENERAL COUNSEL & VP GOVERNMENT AFFAIRS 40.00 X 265574 0 68003 DAVID BRAGG VP IT 40.00 X 238337 0 39735 SANGEETA JACOB VP OPERATIONS 40.00 X 216998 0 61674 JAMIE MALTESE VP INVESTMENTS 40.00 X 188477 0 42515 MIRANDA DEDJA DIRECTOR, ADMINISTRATION & FACILITIES 40.00 X 185466 0 37275 ADAM MULLINS DIRECTOR, FINANCE & ACCOUNTING 40.00 X 169498 0 47590 ROBERT HOLT DIRECTOR OF SALES 40.00 X 207331 0 26375 ANTHONY GLASSFORD DIRECTOR, NEW BUSINESS 40.00 X 185753 0 34877 ELIZABETH FALKEY DIRECTOR, IT BUSINESS RELATIONSHIPS 40.00 X 170082 0 22238 PATRICK NORTON DIRECTOR, OF BUSINESS INTELLIGENCE & ANALYTICS 40.00 X 160633 0 22327 FREDERICK MIHALO TEAM LEAD SALES 40.00 X 151570 0 31988 3976894 0 727610 32 0 1 0 ACCENTURE LLP 161 N CLARK ST CHICAGO IL 60601 CONVERSION SUPPORT 4169380 EDGEWATER TECHNOLOGY 200 HARVARD MILL SQUARE WAKEFIELD MA 01880 ALIP CONSULTING 1923621 WHITE & PARTNERS 13665 DULLES TECHNOLOGY DR HERNDON VA 20171 MARKETING 1834816 QUINSTREET PO BOX 8398 PASADENA CA 91109 MARKETING 919647 SEGUE TECHNOLOGIES 2300 WILSON BLVD ARLINGTON VA 22201 INFORMATION TECHNOLOGY 765061 30 NET EARNED PREMIUM 524113 59963784 59963784 ANNUITY CONSIDERATIONS 524298 18767063 18767063 SURVIVOR INCOME DEPOSITS 524298 2220439 2220439 80951286 174105858 95458 174010400 260411496 236979296 23432200 23432200 23432200 AMORTIZATION OF IMR 524298 1227741 1227741 1227741 279717085 80951286 95458 198670341 138919469 3691330 6672173 1515521 1440587 650233 270030 335427 657185 3748101 4375316 1162416 3590695 220279 195666 6766384 CHANGE IN LIFE RESERVE 65354244 MEDICAL EXPENSES 1055869 377315 240998240 72968475 50597621 4 163143824 167176760 1332823 838127 529044 494696 1913774464 1929809191 667813245 746606818 30089080 30929104 2848318132 2925614194 27784297 31424059 1190428 1163877 9888 13279 2567592871 2627510378 2596577484 2660111593 X 251740648 265502601 251740648 265502601 2848318132 2925614194 X 38718845 -25028239 71347 X 0 1 X 1 0 0 1 X 1332823 838127 494696 494696 MORTGAGE LOANS 4479 C REAL ESTATE LIMITED PARTNERSHIP 5751945 F PRIVATE PLACEMENT BONDS 733523542 F REAL ESTATE CONSOLIDATED CORP. & PARTNERSHIP 7326852 F 746606818 RESERVE FOR LIFE CONTRACTS 2465027234 LIABILITY FOR DEPOSIT-TYPE CONTRACTS 125206154 ASSET VALUATION RESERVE 17491192 INTEREST MAINTENANCE RESERVE 8771855 EMPLOYEE BENEFITS 11013943 2627510378 251531661 -25028239 -25028239 276559900 657185 2500000 3157185 279717085 237841055 0 237841055 657185 2500000 3157185 240998240 PART IV, LINE 2B: NMAA HOLDS AMOUNTS IN ESCROW FOR MEDICAL AND DEPENDENT CARE. PART XI, LINE 4B - OTHER ADJUSTMENTS: EXPENSE ALLOCATION 2,500,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: EXPENSE ALLOCATION 2,500,000. CENTRAL AMERICA & CARIBBEAN 0 0 DEBT INVESTMENTS 15653061 EAST ASIA & PACIFIC 0 0 DEBT INVESTMENTS 65597879 EUROPE 0 0 DEBT INVESTMENTS 161368574 MIDDLE EAST AND NORTH AFRICA 0 0 DEBT INVESTMENTS 36248173 NORTH AMERICA 0 0 DEBT INVESTMENTS 80081284 0 0 0 0 0 0 358948971 0 358948971 0 0 0 0 0 0 X 1 1 X X X X X 0 0 0 BRUCE ENGELHARDT PRESIDENT 329876 0 300000 0 43680 0 60850 0 30787 0 765193 0 0 0 DAVID FRIDELL CHIEF FINANCIAL OFFICER 225071 0 80000 0 18000 0 31158 0 35829 0 390058 0 0 0 STEPHEN PIETROPAOLI CHIEF OPERATING OFFICER 191235 0 60000 0 34810 0 11744 0 29237 0 327026 0 0 0 MICHELLE BRICKWEDDE VP HR 216298 0 55000 0 7029 0 35783 0 14656 0 328766 0 0 0 JOHN MCVEIGH VP MARKETING & SALES 179176 0 55000 0 42000 0 38073 0 4896 0 319145 0 0 0 LAUREN BLOOM GENERAL COUNSEL & VP GOVERNMENT AFFA 191074 0 40000 0 34500 0 42490 0 25513 0 333577 0 0 0 DAVID BRAGG VP IT 135337 0 61000 0 42000 0 22354 0 17381 0 278072 0 0 0 SANGEETA JACOB VP OPERATIONS 132739 0 55000 0 29259 0 26277 0 35397 0 278672 0 0 0 JAMIE MALTESE VP INVESTMENTS 146832 0 25000 0 16645 0 9814 0 32701 0 230992 0 0 0 MIRANDA DEDJA DIRECTOR, ADMINISTRATION & FACILITIE 126447 0 45000 0 14019 0 22602 0 14673 0 222741 0 0 0 ADAM MULLINS DIRECTOR, FINANCE & ACCOUNTING 114896 0 45000 0 9602 0 14777 0 32813 0 217088 0 0 0 ROBERT HOLT DIRECTOR OF SALES 112050 0 74838 0 20443 0 12231 0 14144 0 233706 0 0 0 ANTHONY GLASSFORD DIRECTOR, NEW BUSINESS 59712 0 35000 0 91041 0 22927 0 11950 0 220630 0 66718 0 ELIZABETH FALKEY DIRECTOR, IT BUSINESS RELATIONSHIPS 116079 0 35000 0 19003 0 9380 0 12858 0 192320 0 0 0 PATRICK NORTON DIRECTOR, OF BUSINESS INTELLIGENCE & 110553 0 30750 0 19330 0 879 0 21448 0 182960 0 0 0 FREDERICK MIHALO TEAM LEAD SALES 90454 0 55579 0 5537 0 14147 0 17841 0 183558 0 0 0 PART I, LINE 1A SOCIAL CLUB DUES WERE PROVIDED TO THE PRESIDENT OF NAVY MUTUAL AID ASSOCIATION. THE ENTIRE COST OF $1,680 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 TERMS. FORM 990, PART VI, SECTION B, LINE 11 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 FOUR 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 2015. 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 147,588. CHANGE IN NON-ADMITTED ASSETS -540,923. CHANGE IN ADDITIONAL MINIMUM LIABILITY FOR POSTRETIREMENT BENEFITS 464,682.