2011-11-10T06:24:31-06:00 2010-12-31 PricewaterhouseCoopers LLP 1800 Tysons Blvd McLean VA 22102 990 2010-01-01 530209087 ARMED FORCES BENEFIT ASSOCIATION ARME 7035494455 909 N WASHINGTON STREET ALEXANDRIA VA 223141556 DEBORAH FRENCH 2011-11-09 7039183000 2011-11-09 2010 2016-02-24 21:20:13Z RALPH EBERHART CEO 909 N WASHINGTON ST ALEXANDRIA VA 22314 102057974 false X WWW.AFBA.COM X 1947 VA PROMOTE THE WELFARE OF MEMBERS OF THE U.S. UNIFORMED SERVICES, FEDERAL GOVERNMENT EMPLOYEES, FIRST RESPONDER EMERGENCY PERSONNEL AND THEIR FAMILIES AND SERVE THEIR BEST INTERESTS IN PEACE AND WAR 12 11 113 0 0 0 97022629 97383453 1626977 2997717 0 1676804 98649606 102057974 44451 45782 73587283 74879437 14051409 13459162 0 0 0 15379333 16496839 103062476 104881220 -4412870 -2823246 235464042 239662859 47432622 49817650 188031420 189845209 X PROMOTE THE WELFARE OF MEMBERS OF THE U.S. UNIFORMED SERVICES, FEDERAL GOVERNMENT EMPLOYEES, FIRST RESPONDER EMERGENCY PERSONNEL AND THEIR FAMILIES AND SERVE THEIR BEST INTERESTS IN PEACE AND WAR false false 51951023 45416427 PROVIDED BETTER ALTERNATIVE TERM LIFE INSURANCE COVERAGE TO A POPULATION OF 158,052 MEMBERS AND SPOUSES. INSURANCE IN FORCE OF $22.1 BILLION, UNDERWRITTEN BY RELATED ORGANIZATIONS AND OTHER THIRD PARTY LIFE INSURANCE COMPANIES, IN SUPPORT OF AFBA'S OBJECTIVE TO PROMOTE THE WELFARE OF ITS MEMBERS AND THEIR FAMILIES. PAID OUT 293 DEATH CLAIMS TOTALING $34,860,000 IN 2010. 23289327 23703905 PROVIDED GROUP DECREASING TERM LIFE INSURANCE COVERAGE TO A POPULATION OF 116,826 MEMBERS AND SPOUSES. INSURANCE IN FORCE OF $2.0 BILLION, UNDERWRITTEN BY RELATED ORGANIZATIONS AND OTHER THIRD PARTY LIFE INSURANCE COMPANIES, IN SUPPORT OF AFBA'S OBJECTIVE TO PROMOTE THE WELFARE OF ITS MEMBERS AND THEIR FAMILIES. PAID OUT 2,363 DEATH CLAIMS TOTALING $15,964,650 IN 2010. 22324275 21708546 PROVIDED LEVEL TERM LIFE INSURANCE COVERAGE TO A POPULATION OF 85,667 MEMBERS AND SPOUSES. INSURANCE IN FORCE OF $7.0 BILLION, UNDERWRITTEN BY RELATED ORGANIZATIONS AND OTHER THIRD PARTY LIFE INSURANCE COMPANIES, IN SUPPORT OF AFBA'S OBJECTIVE TO PROMOTE THE WELFARE OF ITS MEMBERS AND THEIR FAMILIES. PAID OUT 184 DEATH CLAIMS TOTALING $14,307,000 IN 2010. 7316595 6554575 104881220 false false false false false false false false false true false true false true false false true false false false false false false false false false false true true false false false false false false false false false false false true true true false true 41 0 true 113 true false false false false false false X 12 11 false false false false true true false true true false false true true true true true true true false false X DEBORAH FRENCH 8007762322 909 N WASHINGTON ST ALEXANDRIA VA 22314 GENERAL RALPH EBERHART USAF RET 40.0 X X 847898 40000 10000 GEN JOHN N ABRAMS USA RET 2.0 X 45000 WILLIAM E CAULFIELD 2.0 X 27500 ADM THOMAS COLLINS USCG RET 2.0 X 35500 CHARLES K COLLUM JR 2.0 X 22000 GEN LARRY R ELLIS USA RET 2.0 X 31000 GEN HAL M HORNBURG USAF RET 2.0 X 19000 ADM T JOSEPH LOPEZ USN RET 2.0 X 36000 GEN J MICHAEL LOH USAF RET 2.0 X 32000 CMSAF GERALD R MURRAY USAF RET 2.0 X 28000 GEN PETER PACE USMC RET 2.0 X 31000 GEN ROGER SCHULTZ USA RET 2.0 X 14500 VADM PATRICIA TRACEY USN RET 2.0 X 37000 R BELL 40.0 X 286084 M CENTANNI 40.0 X 256741 M COLE 40.0 X 295733 D FRENCH 40.0 X 259666 C GABRIEL 40.0 X 233210 A GORDON 40.0 X 172153 J SANDEFUR 40.0 X 215753 K TAYLOR 40.0 X 194729 M WONG 40.0 X 93864 M DELLAHAN 40.0 X 174619 R COTTLE 40.0 X 172113 R FLOYD-JONES 40.0 X 158651 D ALMAREZ 40.0 X 155230 E SMITH 40.0 X 148083 4023027 40000 10000 31 false true true EXAMINATION MANAGEMENT SERVICES IN MED INFO SERVICES 820655 TRUSTED TECHNOLOGIES IT DEV SERVICES 240026 ZSQUARED IT DEV SERVICES 215375 PRICEWATERHOUSECOOPERS LLP AUDIT, TAX SERVICES 179824 TWINSTARS CORPORATION IT DEV SERVICES 171272 8 0 BETTER ALTERNATIVE INSURANCE PROGRAM 524298 45416427 45416427 GROUP TERM INSURANCE PROGRAM 524298 23703905 23703905 LEVEL TERM INSURANCE PROGRAM 524298 21708546 21708546 GROUP SELECT TERM INSURANCE PROGRAM 524298 6317174 6317174 7-20 YEAR TERM INSURANCE PROGRAM 524298 156681 156681 80720 80720 97383453 2997717 2997717 0 0 44645 44645 44645 44645 0 0 0 0 LIFE INSURANCE PROCEEDS 900099 1505282 1505282 REFERRAL FEES 900099 126877 126877 1632159 102057974 99060257 2997717 0 45782 45782 0 74879437 74879437 3214331 3214331 0 7090296 7090296 1764543 1764543 720742 720742 669250 669250 0 120715 120715 1156138 1156138 0 0 0 1447818 1447818 915783 915783 1269928 1269928 2488083 2488083 0 2040456 2040456 194352 194352 0 145680 145680 64530 64530 0 1089970 1089970 93223 93223 FIELD SERVICE REP FEES 5032591 5032591 STATE AND LOCAL TAXES 113716 113716 BANK SERVICE CHARGES 265576 265576 OTHER EXPENSES 58280 58280 104881220 104881220 3200 3200 1409060 1087041 11633486 14906014 17683830 17500584 23267881 14003757 9932030 9264124 194802436 196901896 235464042 239662859 6170808 7261843 7551788 7386412 33710026 35169395 47432622 49817650 X 188031420 189845209 188031420 189845209 235464042 239662859 X -2823246 4637035 X false true true X false 7233966 7233966 1989374 1864004 125370 14044541 12139753 1904788 9264124 INVEST. IN RELATED ENTERPRISES 106910137 C FBR BALANCED FUND 33080764 F FBR LARGE CAP FUND 22547009 F FBR CORE BOND FUND 19191804 F FBR SMALL CAP FUND 4841815 F FBR MID CAP FUND 10233709 F FBR MUTUAL FUNDS 96658 F 196901896 0 PREMIUMS DUE UNDERWRITERS 25062705 PENSION AND DEFERRED BOARD COMP 9738274 ANNUAL REFUNDS DUE MEMBERS 125284 CONTINGENT LIABILITY HEALTH AND FSA 243132 35169395 102057974 104881220 -2823246 5421372 -133900 5287472 2464226 107479346 5421372 5421372 102057974 102057974 105015120 133900 133900 104881220 104881220 PART XI, LINE 8 AND PART XIII, LINE 2- OTHER CHANGES IN NET ASSETS: INSURANCE CONTRIBUTIONS REFUNDED TO MEMBERS = $133,900 true COLLEGE SCHOLARSHIP FOR FAMILY OF DECEASED MEMBERS 4 21908 NOT APPLICABLE SCH I, PART I, LINE 2 - GRANT FUND PROCEDURES: CHARLES C. BLANTON AFBA FAMILY SURVIVOR COLLEGE SCHOLARSHIP - THE SCHOLARSHIP IS OFFERED TO THE SURVIVING SPOUSE OR CHILDREN OF AN INSURED AFBA MEMBER WHO DIES IN A COMBAT ZONE, AS A RESULT OF COMBAT ACTION OR WHOSE LIFE WAS LOST AS A RESULT OF ACTS OF FOREIGN OR DOMESTIC TERRORISM. THE SCHOLARSHIP PROVIDES AN EDUCATIONAL SCHOLARSHIP TO CANDIDATES FOR AN UNDERGRADUATE DEGREE OF UP TO $10,000 PER FAMILY, PER YEAR FOR A MAXIMUM BENEFIT OF $40,000 PER FAMILY FOR TUITION AND FEES. ELIGIBLE FAMILIES ARE NOTIFIED, ADVISED OF SCHOLARSHIP TERMS AND HOW TO APPLY FOR PAYMENTS. A LIST OF ELIGIBLE SCHOLARSHIP RECIPIENTS IS MAINTAINED BY AFBA. WHEN AN APPLICATION IS RECEIVED THE NAME IS CHECKED AGAINST THE LIST TO VERIFY ELIGIBILITY. THE APPLICATION IS ALSO CHECKED TO DETERMINE IF THE REQUEST FALLS WITHIN OTHER SCHOLARSHIP GUIDELINES INCLUDING AMOUNT LIMITATIONS, NATURE OF ITEMS REQUESTED, TIME EXPIRATION LIMITATIONS AND ACCREDITATION OF COLLEGE OR UNIVERSITY. THE COLLEGE OR UNIVERSITY IS CONTACTED TO CONFIRM THE BALANCE DUE AND TO VERIFY ANY LINE ITEMS WHERE THE NATURE IS UNCLEAR. ONCE ALL CRITERIA ARE SATISFIED A CHECK IS ISSUED DIRECTLY TO THE COLLEGE OR UNIVERSITY. X X X true true X X X X X false true false GENERAL RALPH EBERHART USAF RET 493759 40000 320000 34139 58725 10000 7532 914155 50000 R BELL 242239 40000 3845 39138 7442 332664 M CENTANNI 222121 32000 2620 35499 7278 299518 M COLE 246289 30000 19444 39731 7458 342922 D FRENCH 217074 40000 2592 34929 7329 301924 C GABRIEL 201842 28000 3368 32418 7258 272886 A GORDON 162557 7300 2296 25931 7099 205183 J SANDEFUR 181383 28000 6370 29350 7186 252289 K TAYLOR 167349 25000 2380 28542 7125 230396 M DELLAHAN 153545 17500 3574 24235 7080 205934 R COTTLE 156694 12500 2919 24931 7090 204134 R FLOYD-JONES 148437 8000 2214 23272 7050 188973 D ALMAREZ 140745 12520 1965 22810 7043 185083 SCH J PART I LINE 1 - EXPLANATION: FIRST CLASS AIR TRAVEL IS AUTHORIZED FOR THE ASSOCIATION'S PRESIDENT AND SPOUSE PER A BOARD APPROVED EMPLOYMENT CONTRACT. THE TOTAL COST OF AIR TRAVEL PAID BY THE ASSOCIATION WAS $10,296 IN 2010. THE ASSOCIATION ALSO PAYS THE MONTHLY DUES FOR THE PRESIDENT AT A SOCIAL CLUB FOR MILITARY PERSONNEL. THESE DUES ARE REPORTABLE COMPENSATION TO THE PRESIDENT AND TOTALED $5,642 IN 2010. SCH J PART I LINE 4 - SUPPLEMENTAL NONQUALIFIED PLAN NET PERIODIC PENSION COST: PRES - R EBERHART $211,161 CIO - R BELL $15,574 GENL CNSL- M COLE $19,452 Form 990, Part VI, Sec A, Line 6 - Member description: In summary, the following are eligible for membership in AFBA: members of the uniformed services (active duty, retired, separated, National Guard, and Reserves), federal civilian employees and contractors of the U.S. government, state and local government employees (including first responders), and those who share a common bond with the member group including current and former spouses and dependents. An eligible person becomes a member upon issuance of a membership certificate, indicating the person has applied for, been approved and paid for group term life insurance offered by the Association. This insurance is underwritten primarily by 5Star Life Insurance Company. Form 990, Part VI, Sec A, Line 7A - Election of Board: AFBA's Board of Directors is elected annually each May by its members at an annual meeting of members. Members receive 30 days prior notice of the annual meeting and a ballot card including nominees for the Board for the ensuing year. Members are directed to AFBA's website for biographical information on the nominees. Members may vote via ballot card, online, or in person at the annual meeting. Results are announced at the annual meeting and posted on the Association's website. Form 990, Part VI, Sec A, Line 11B - Review of the Form 990: The Association's Form 990 is compiled and reviewed by members of management and senior management. The nature of the question determines the employees involved in the review to ensure accuracy and has included the following individuals: CEO, General Counsel, CFO, Director of Audit, Director of Human Resources, and Controller. The CFO compiles a draft, with supporting workpapers, and provides this to the Association's tax preparer, PricewaterhouseCoopers (PwC). A draft Form 990 prepared by PwC is then provided to the Association's Audit Committee in advance of a regularly scheduled meeting for review and approval prior to submission. A copy is also made available upon request to all board members prior to filing. The CFO works with PWC to respond to questions raised during the review process and reviews the final draft prior to submission. Form 990, Part VI, Sec B, Line 15 - Compensation Review: The President's compensation package is authorized by a Board approved employment contract. Annually, the Board's Compensation Committee reviews the President's performance against Board approved metrics and recommends to the Board any changes in compensation or bonus to be paid. Periodically, including at the time of contract renewal, comparability data from independent sources including other Form 990 filings is formally reviewed. Compensation of senior management is established by the President, upon consideration of comparability data from third parties. Individual performance is evaluated annually by the President against established metrics for each position, to determine any bonus to be paid or adjustments in compensation. The compensation of each member of senior management is reviewed by the Board's Compensation Committee on an annual basis. Form 990, Part VI, Sec C, Line 19 - Disclosure Comments: The Association's Form 990 is made available upon request. Governing documents are available to the public to the extent filed with the IRS. The Association makes certain information available on its website. Other information requests are considered based on the availability of the information and the relevant privacy policy. Form 990, Part VI, Sec B, Line 12C - Conflict of Interest Policy: Directors, officers and key employees of the AFBA are required to complete an annual Ethics Compliance Statement, which is reviewed by the General Counsel's office for completeness and compliance with AFBA's policy. Responses requiring further review are given to AFBA's General Counsel for investigation and discussion with AFBA's President, to ensure appropriate action is taken, if required. Form 990, Part III, Line 4d - Other Program Services: The organization provided Group Select Term, 7 - 20 Year Term and Military Spouse Life Insurance Coverage to a population of 18,858 members and spouses. Insurance in force totalled $3.2 billion and was underwritten by related organizations and other third party life insurance companies, in support of AFBA's objective to promote the welfare of its members and their families. 32 death claims were paid out in 2010 totalling to $2,737,500. Form 990, Part XI, Line 5 - Reconciliation of Net Assets: Other changes in net assets consist of: Unrealized investment gains $5,421,372 Other comprehesive income - securities 969,232 Other comprehensive loss - pension (1,619,669) Annual refunds due members (133,900) ------------ Total $4,637,035 5STAR BANK 101 S SAHWATCH STE 100 COLORADO SPRINGS CO 80903 930762778 BANKING SVCS CO 5STAR FNCL LLC C CORP 4372000 181374000 1.00000 5STAR LIFE INSURANCE COMPANY 909 N WASHINGTON STREET ALEXANDRIA VA 22314 541829709 LIFE INSURANC VA 5STAR FNCL LLC C CORP 3866000 252192000 1.00000 5STAR FINANCIAL LLC 909 N WASHINGTON STREET ALEXANDRIA VA 22314 521616382 FINANCIAL SER VA AFBA INV TRUST C CORP -51000 107374000 1.00000 AFBA INVESTMENT TRUST 909 N WASHINGTON STREET ALEXANDRIA VA 22314 516588783 GRANTOR TRUST VA AFBA TRUST 1.00000 5STAR GENERAL AGENCY 909 N WASHINGTON STREET ALEXANDRIA VA 22314 020564967 INS SALES VA 5STAR LIFE INS C CORP 1.00000 5STAR ADVERTISING COMPANY 909 N WASHINGTON STREET ALEXANDRIA VA 22314 541536557 INACTIVE VA 5STAR FNCL LLC C CORP 1.00000 FINANCIAL SERVICES PUBL CO 909 N WASHINGTON STREET ALEXANDRIA VA 22314 541707073 INACTIVE VA 5STAR FNCL LLC C CORP 1.00000 AFBA 5STAR INVESTMENT Mng CO 909 N WASHINGTON STREET ALEXANDRIA VA 22314 541841308 MUTUAL FUNDS VA 5STAR FNCL LLC C CORP -451000 4636 1.00000 5STAR ADMINISTRATORS INC 909 N WASHINGTON STREET ALEXANDRIA VA 22314 541802185 INACTIVE VA 5STAR FNCL LLC C CORP 1.00000 FBR FUNDS 1001 NINETEENTH STREET NORTH ARLINGTON VA 22209 111111111 INV FUNDS DE AFBA TRUST 4785000 96663000 0.39200 true true false false true false true false false true true true true true true true true true 5STAR BANK a 18625 5STAR INVESTMENT MANAGEMENT COMPANY b 500000 5STAR FINANCIAL LLC e 12600000 5STAR BANK e 3500000 5STAR FINANCIAL LLC g 55125 5STAR FINANCIAL LLC j 1801026 5STAR BANK k, n 59519 5STAR LIFE INSURANCE COMPANY k, n 555146 5STAR BANK l 154044 5STAR FINANCIAL LLC l, n 128098 5STAR LIFE INSURANCE COMPANY l, n 4145959 5STAR LIFE INSURANCE COMPANY l, o, 79470933 5STAR BANK o, n 88294 5STAR LIFE INSURANCE COMPANY m 63147 5STAR BANK p 880400 5STAR LIFE INSURANCE COMPANY p 1435634 5STAR INVESTMENT MANAGEMENT COMPANY p 82225 5STAR LIFE INSURANCE COMPANY q 6558140 5STAR LIFE INSURANCE COMPANY r 6582358