2014-11-13T13:18:01-06:00 2013-12-31 521446779 JOHNSON LAMBERT LLP 700 SPRING FOREST ROAD STE 115 RALEIGH NC 27609 990 2013-01-01 530116720 NAVY MUTUAL AID ASSOCIATION NAVY 8006286011 29 CARPENTER RD - HENDERSON HALL ARLINGTON VA 22212 BRUCE B ENGELHARDT PRESIDENT 7036141638 2014-11-13 1 JOHN HUSKINS P01081531 9197196400 2014-11-13 2013 2016-03-07 17:11:31Z BRUCE B ENGELHARDT 29 CARPENTER RD - HENDERSON HALL ARLINGTON VA 22212 432211242 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. 17 16 106 22 0 -96937 0 0 74869379 74367834 167397748 177693637 1026912 1050806 243294039 253112277 0 0 118961287 126904792 9986645 11125569 0 0 0 90178007 84993329 219125939 223023690 24168100 30088587 2696874214 2779441493 2501698663 2548838990 195175551 230602503 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 15 0 1 106 1 1 1 0 0 0 0 0 X 17 16 0 0 0 0 1 1 0 1 1 0 0 0 1 0 1 1 1 1 1 0 X ADAM MULLINS 8006286011 29 CARPENTER ROAD-HENDERSON HALL ARLINGTON VA 22212 ERIC CANDELORI DIRECTOR 1.00 X 0 0 0 JOHN LUECKE DIRECTOR 1.00 X 0 0 0 KATHLEEN MARTIN DIRECTOR 1.00 X 0 0 0 MICHELLE DUNNING DIRECTOR 1.00 X 0 0 0 MICHAEL MCDANIEL DIRECTOR 1.00 X 0 0 0 JOHN ROOTS DIRECTOR 1.00 X 0 0 0 ERICA SCHWARTZ DIRECTOR 1.00 X 0 0 0 PATRICK STILLMAN DIRECTOR 1.00 X 0 0 0 STAN SZEMBORSKI DIRECTOR 1.00 X 0 0 0 FRANK THORP IV DIRECTOR 1.00 X 0 0 0 LEO WILLIAMS DIRECTOR 1.00 X 0 0 0 MIKE WILLIAMS DIRECTOR 1.00 X 0 0 0 MARK WILSON DIRECTOR 1.00 X 0 0 0 CARL JENSEN DIRECTOR FROM 4/2013 1.00 X 0 0 0 JAMES CARMAN DIRECTOR THRU 4/2013 1.00 X 0 0 0 ISAIAH COLE DIRECTOR THRU 4/2013 1.00 X 0 0 0 JEFFREY OSTER CHAIRMAN 1.00 X X 0 0 0 RANDY WELCH VICE CHAIR 1.00 X X 0 0 0 BRUCE ENGELHARDT PRESIDENT 40.00 X X 534880 0 77956 DAVID FRIDELL CHIEF FINANCIAL OFFICER 40.00 X 261979 0 34979 STEPHEN PIETROPAOLI CHIEF OPERATIONG OFFICER 40.00 X 63616 0 5622 JOHN MCVEIGH VP MEMBERSHIP 40.00 X 252692 0 39450 MICHELLE BRICKWEDDE VP HR & ADMIN 40.00 X 239313 0 40677 LAUREN BLOOM GENERAL COUNSEL 40.00 X 235666 0 59810 SANGEETA JACOB VP, BUSINESS PROCESS REENG 40.00 X 213052 0 51174 ALLEN MCCRAY VP INVESTMENTS 40.00 X 201618 0 48179 DAVID BRAGG VP IT 40.00 X 191771 0 14314 PAUL HIGGINS DIRECTOR OF UNDERWRITING 40.00 X 173211 0 4769 ROBERT HOLT DIRECTOR OF SALES 40.00 X 170458 0 23815 DANIEL WALCZUK SALES REPRESENTATIVE 40.00 X 157122 0 30305 ADAM MULLINS DIRECTOR, FINANCE & ACCOUNTING 40.00 X 148107 0 36834 MARK SUMMERS DIRECTOR, BENEFICIARY & CUSTOMER SERVICE 40.00 X 148090 0 33746 2991575 0 501630 21 0 1 0 ACCENTURE LLP 161 N CLARK ST CHICAGO IL 60601 CONVERSION SUPPORT 9177244 WHITE & PARTNERS 13665 DULLES TECHNOLOGY DR HERNDON VA 20171 MARKETING 1393139 SEGUE TECHNOLOGIES INC 2300 WILSON BLVD ARLINGTON VA 22201 CONVERSION SUPPORT 1107372 NRI INC 11400 ROCKVILLE PIKE ROCKVILLE MD 20852 TEMPORARY EMPLOYMENT 1086915 THE LIFE & ANNUITY GROUP INC ONE CONSTITUTION PLAZA HARTFORD CT 06103 ALIP CONSULTING 1049486 22 NET EARNED PREMIUM 524113 59821640 59821640 ANNUITY CONSIDERATIONS 524298 13720822 13720822 SURVIVOR INCOME DEPOSITS 524298 825372 825372 74367834 167699559 167699559 189093043 179098965 9994078 9994078 9994078 AMORTIZATION OF IMR 524298 1050806 1050806 1050806 253112277 74367834 0 178744443 126904792 2566748 5278316 1661311 1035894 583300 258634 219426 366910 3962494 3039518 1965579 4507634 166662 146527 4626230 CHANGE IN LIFE RESERVE 63233099 MEDICAL EXPENSES 913007 CHANGE IN EMPLOYEE BENE 476970 1110639 223023690 85461729 108473174 161456725 161479677 13938124 9544170 3966726 4393954 1975858338 1923012345 441871001 552813633 28259695 29268710 2696874214 2779441493 35090961 34912949 1232622 1198679 15297 14760 2465359783 2512712602 2501698663 2548838990 X 195175551 230602503 195175551 230602503 2696874214 2779441493 X 30088587 5700223 -361858 X 0 1 X 1 0 0 1 X 6314184 2442535 3871649 7623940 7101635 522305 4393954 MORTGAGE LOANS 88131791 C REAL ESTATE LIMITED PARTNERSHIP 8589868 F PRIVATE PLACEMENT BONDS 448065994 F REAL ESTATE CONSOLIDATED CORP. & PARTNERSHIP 8025980 F 552813633 RESERVE FOR LIFE CONTRACTS 2322194654 LIABILITY FOR DEPOSIT-TYPE CONTRACTS 149604351 ASSET VALUATION RESERVE 24337474 INTEREST MAINTENANCE RESERVE 7297289 EMPLOYEE BENEFITS 9278834 2512712602 250595367 0 250595367 366910 2150000 2516910 253112277 220506780 0 220506780 366910 2150000 2516910 223023690 PART IV, LINE 2B: NMAA HOLDS AMOUNTS IN ESCROW FOR MEDICAL AND DEPENDENT CARE. PART XI, LINE 4B - OTHER ADJUSTMENTS: EXPENSE ALLOCATION 2,150,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: EXPENSE ALLOCATION 2,150,000. CENTRAL AMERICA & CARIBBEAN 0 0 DEBT INVESTMENTS 4490081 EAST ASIA & PACIFIC 0 0 DEBT INVESTMENTS 41392544 EUROPE 0 0 DEBT INVESTMENTS 147437588 MIDDLE EAST & NORTH AFRICA 0 0 DEBT INVESTMENTS 32174381 NORTH AMERICA 0 0 DEBT INVESTMENTS 84758640 0 0 0 0 0 0 310253234 0 310253234 0 0 0 0 0 0 X 1 1 X X X X X 0 0 0 BRUCE ENGELHARDT PRESIDENT 284380 0 210000 0 40500 0 53000 0 24956 0 612836 0 0 0 DAVID FRIDELL CHIEF FINANCIAL OFFICER 184479 0 60000 0 17500 0 7700 0 27279 0 296958 0 0 0 JOHN MCVEIGH VP MEMBERSHIP 172192 0 40000 0 40500 0 34600 0 4850 0 292142 0 0 0 MICHELLE BRICKWEDDE VP HR & ADMIN 199313 0 40000 0 0 0 28600 0 12077 0 279990 0 0 0 LAUREN BLOOM GENERAL COUNSEL 179166 0 40000 0 16500 0 39100 0 20710 0 295476 0 0 0 SANGEETA JACOB VP, BUSINESS PROCESS REENG 132164 0 50000 0 30888 0 25300 0 25874 0 264226 0 0 0 ALLEN MCCRAY VP INVESTMENTS 148618 0 30000 0 23000 0 28200 0 19979 0 249797 0 0 0 DAVID BRAGG VP IT 116771 0 40000 0 35000 0 0 0 14314 0 206085 0 0 0 PAUL HIGGINS DIRECTOR OF UNDERWRITING 136409 0 30000 0 6802 0 0 0 4769 0 177980 0 0 0 ROBERT HOLT DIRECTOR OF SALES 117995 0 30000 0 22463 0 11700 0 12115 0 194273 0 0 0 DANIEL WALCZUK SALES REPRESENTATIVE 128364 0 22000 0 6758 0 15700 0 14605 0 187427 0 0 0 ADAM MULLINS DIRECTOR, FINANCE & ACCOUNTING 111432 0 30000 0 6675 0 11600 0 25234 0 184941 0 0 0 MARK SUMMERS DIRECTOR, BENEFICIARY & CUSTOMER SER 113206 0 10000 0 24884 0 22400 0 11346 0 181836 0 0 0 PART I, LINE 1A SOCIAL CLUB DUES WERE PROVIDED TO THE PRESIDENT OF NAVY MUTUAL AID ASSOCIATION. THE ENTIRE COST OF $2,810 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 AUDIT COMMITTEE 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 2013. 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 950,831. CHANGE IN NON-ADMITTED ASSETS -2,034,109. CHANGE IN ADDITIONAL MINIMUM LIABILITY FOR POSTRETIREMENT BENEFITS 721,420.