2012-03-22T09:04:12-05:00 2010-12-31 JOHNSON LAMBERT & CO LLP 700 SPRING FOREST ROAD STE 115 RALEIGH NC 27609 990 2010-01-01 530116720 NAVY MUTUAL AID ASSOCIATION NAVY 7036141638 29 CARPENTER RD - HENDERSON HALL ARLINGTON VA 22212 BRUCE B ENGELHARDT 7036141638 2012-03-21 1 9197196400 2010 2016-02-24 21:20:13Z BRUCE B ENGELHARDT 29 CARPENTER RD - HENDERSON HALL ARLINGTON VA 22212 351272790 0 X WWW.NMAA.ORG X 1879 VA SEE SCHEDULE O AND FORM 990, PART III, LINE 1:TO PROVIDE MEMBERS OF THE NAVY, MARINES, COAST GUARD, NATIONAL OCEANIC AND ATMOSPHERIC ASSOCIATION, 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. 19 18 95 0 0 0 0 0 89166738 87471964 138338653 148537673 411576 905554 227916967 236915191 0 0 99956066 102871713 7691302 8561746 0 0 0 110577572 122621538 218224940 234054997 9692027 2860194 2380414001 2571859432 2205776116 2380534008 174637885 191325424 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 1 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 16 0 1 95 1 0 0 0 0 0 0 X 19 18 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X ADAM MULLINS 7039451440 29 CARPENTER ROAD-HENDERSON HALL ARLINGTON VA 22212 ERIC CANDELORI 1.00 X 0 0 0 JAMES CARMAN 1.00 X 0 0 0 ISAIAH COLE 1.00 X 0 0 0 JAN GAUDIO 1.00 X 0 0 0 GARY LABUDA 1.00 X 0 0 0 JOHN LUECKE 1.00 X 0 0 0 GILLEM LUCAS 1.00 X 0 0 0 KATHLEEN MARTIN 1.00 X 0 0 0 MICHELLE MCATEE 1.00 X 0 0 0 MICHAEL MCDANIEL 1.00 X 0 0 0 JOHN ROOTS 1.00 X 0 0 0 ERICA SCHWARTZ 1.00 X 0 0 0 PATRICK STILLMAN 1.00 X 0 0 0 RANDY WELCH 1.00 X 0 0 0 LEO WILLIAMS 1.00 X 0 0 0 MARK WILSON 1.00 X 0 0 0 RICHARD MIES 1.00 X X 0 0 0 JEFFREY OSTER 1.00 X X 0 0 0 BRUCE ENGELHARDT 40.00 X X 410162 0 57288 JENNIFER CASE 40.00 X 144652 0 13206 LAUREN BLOOM 40.00 X 198908 0 48533 D TIMOTHY EDDY 40.00 X 201259 0 36046 ALLEN MCCRAY 40.00 X 191800 0 40088 JOHN MCVEIGH 40.00 X 190482 0 27954 MICHELLE BRICKWEDDE 40.00 X 207210 0 22844 THOMAS BENTON 40.00 X 201089 0 10986 MARK SUMMERS 40.00 X 134551 0 23132 ANTHONY GLASSFORD 40.00 X 129431 0 22014 SANGEETA JACOB 40.00 X 127677 0 31486 VIRGINIA HAYES 40.00 X 125753 0 20234 MICHELLE SMITH 40.00 X 121020 0 27352 2383994 0 381163 13 0 1 0 HOOPER HOLMES 170 MT AIRY ROAD BASKING RIDGE NJ 07920 LAB SERVICES 366125 MONSTER MEDIAWORKS 517 S LAKE DESTINY ROAD SUITE 100 ORLANDO FL 32810 SALES SERVICES 296748 SS&C TECHNOLOGIES INC 80 LAMBERTON ROAD WINDSOR CT 06095 SOFTWARE SERVICES 250773 NOVARICA 485 LEXINGTON AVENUE NEW YORK NY 10017 RESEARCH CONSULTING 145561 PDMA 401 N MICHIGAN AVENUE CHICAGO IL 60611 ADMINISTRATION SUPPORT 122850 6 NET EARNED PREMIUMS 524113 53144782 53144782 SUPPLEMENTAL CONTRACTS 524298 33318139 33318139 ANNUITY CONSIDERATIONS 524298 1009043 1009043 87471964 153553160 153553160 109342112 114357599 -5015487 -5015487 -5015487 AMORTIZATION OF IMR 524298 905554 905554 905554 236915191 88377518 0 148537673 102871713 2002507 4554166 812159 830699 362215 166925 127897 258386 726595 2238744 739804 568187 165229 137044 395460 CHANGE IN LIFE RESERVE 85191159 EXCESS INTEREST CREDIT 30626659 CHANGE IN EMPLOYEE BENE 786709 MEDICAL EXPENSES 492740 234054997 69567089 43502907 148671782 153640193 7453405 3571798 4055264 3881607 1980975272 2068681311 138609512 273186670 38535082 28966744 2380414001 2571859432 21664084 22714428 442613 360742 12315 9446 2183657104 2357449392 2205776116 2380534008 X 174637885 191325424 174637885 191325424 2380414001 2571859432 X 2860194 13827345 X 0 1 1 X 0 0 1 5984755 2192694 3792061 1468650 1379104 89546 3881607 MORTGAGE LOANS 15417703 C REAL ESTATE LIMITED PARTNERSHIP 4219758 F PRIVATE PLACEMENT BONDS 203266615 F REAL ESTATE CONSOLIDATED CORP. & PARTNERSHIP 6124396 F SECURITIES LENDING 44158198 C 273186670 RESERVE FOR LIFE CONTRACTS 2078222233 LIABILITY FOR DEPOSIT-TYPE CONTRACTS 194726843 ASSET VALUATION RESERVE 25810001 INTEREST MAINTENANCE RESERVE 7138260 EMPLOYEE BENEFITS 6468853 SECURITIES LENDING RESERVE 44673497 PAYABLE FOR SECRITIES 409705 2357449392 236915191 234054997 2860194 14718511 -891166 13827345 16687539 234263496 0 234263496 258386 2393309 2651695 236915191 231403302 0 231403302 258386 2393309 2651695 234054997 PART IV, LINE 2B: NMAA HOLDS AMOUNTS IN ESCROW FOR MEDICAL AND DEPENDENT CARE. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN ASSET VALUATION RESERVE -733,519. CHANGE IN NON-ADMITTED ASSETS 320,805. CHANGE IN ADDITIONAL MINIMUM LIABILITY FOR POSTRETIREMENT BENEFITS -478,452. PART XII, LINE 4B - OTHER ADJUSTMENTS: EXPENSE ALLOCATION 2,393,309. PART XIII, LINE 4B - OTHER ADJUSTMENTS: EXPENSE ALLOCATION 2,393,309. X 1 1 X X X X X 0 0 0 BRUCE ENGELHARDT 241662 0 130000 0 38500 0 47800 0 9488 0 467450 0 0 0 JENNIFER CASE 114253 0 23000 0 7399 0 0 0 13206 0 157858 0 0 0 LAUREN BLOOM 152402 0 30000 0 16506 0 31000 0 17533 0 247441 0 0 0 D TIMOTHY EDDY 125427 0 40250 0 35582 0 27700 0 8346 0 237305 0 0 0 ALLEN MCCRAY 129100 0 41000 0 21700 0 27100 0 12988 0 231888 0 0 0 JOHN MCVEIGH 114732 0 37250 0 38500 0 24240 0 3714 0 218436 0 0 0 MICHELLE BRICKWEDDE 119210 0 55000 0 33000 0 15400 0 7444 0 230054 0 0 0 THOMAS BENTON 133089 0 46000 0 22000 0 0 0 10986 0 212075 0 0 0 MARK SUMMERS 91492 0 20000 0 23059 0 13400 0 9732 0 157683 0 0 0 ANTHONY GLASSFORD 81931 0 23000 0 24500 0 18300 0 3714 0 151445 0 0 0 SANGEETA JACOB 95828 0 26000 0 5849 0 11400 0 20086 0 159163 0 0 0 PART I, LINE 1A SOCIAL CLUB DUES WERE PROVIDED TO THE PRESIDENT OF NAVY MUTUAL AID ASSOCIATION. THE ENTIRE COST WAS TREATED AS TAXABLE INCOME TO THE RECIPIENT. FORM 990, PART VI, SECTION A, LINE 6 NMAA HAS A MEMBERSHIP OF APPROXIMATELY 100,000. 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 THE MEMBERS OF THE BOARD ARE ELECTED ANNUALLY BY A VOTE OF NAVY MUTUAL'S MEMBERSHIP. 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 ALSO HAVE KEY EMPLOYEES AND OFFICERS ANNUALLY SIGN OUR CONFLICT OF INTEREST POLICY AND OUR CODE OF ETHICS POLICY. WE PROVIDE ANNUAL STAFF TRAINING ON OUR CODE OF ETHICS AND CONFLICT OF INTEREST POLICY. 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 3 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 NOVEMBER 2010. 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 14,718,511. CHANGE IN ASSET VALUATION RESERVE -733,519. CHANGE IN NON-ADMITTED ASSETS 320,805. CHANGE IN ADDITIONAL MINIMUM LIABILITY FOR POSTRETIREMENT BENEFITS -478,452. TOTAL TO FORM 990, PART XI, LINE 5: 13,827,345.