2018-11-08T17:31:41-06:00 2018-03-31 621199757 LBMC PC PO BOX 1869 BRENTWOOD TN 370241869 990 2017-04-01 620758518 ARMED SERVICES MUTUAL BENEFIT ASSOCIATION ARME 6158510800 1000 NORTHCHASE DR NO 220 GOODLETTSVILLE TN 37072 BRICE N SMITH PRESIDENT 6158510800 2018-11-08 1 JULIE BARTLETT P00742923 6153774600 2018-11-08 8.42.53.250 2018-11-08 11:47:28 CS P FEC66D6A7288323A1CCCF3D82C6AE1FD5D6EE9F7 ED969923DD8A308857C3C4B1D69C6F4FB4790C7E 2017 2019-02-21 02:37:17Z BRICE N SMITH PO BOX 160384 NASHVILLE TN 37216 18180083 0 X WWW.ASMBA.COM X 1963 TN PROVIDE MEMBERS LOW COST LIFE INSURANCE AND SURVIVOR BENEFIT COVERAGE. 7 7 7 0 0 0 0 0 6232509 6080451 939190 673067 166291 189680 7337990 6943198 0 105285 0 0 842255 832822 0 0 0 6313579 6311519 7155834 7249626 182156 -306428 51164467 52410954 31445588 31346011 19718879 21064943 X TO PROVIDE FOR ITS MEMBERS A VARIETY OF LOW COST BENEFIT PROGRAMS AND FINANCIAL SECURITY IN THE FORM OF LIFE INSURANCE AND SURVIVOR BENEFIT COVERAGES, WHICH ARE NOT OTHERWISE READILY AVAILABLE AT REASONABLE RATES OR WITHOUT LIMITING CLAUSES (SUCH AS WAR) TO MEMBERS OF THE ARMED SERVICES DUE TO THEIR OCCUPATION AND THE RISKS INVOLVED. 0 0 7249626 6943198 THE ASSOCIATION PROVIDES FOR ITS MEMBERS A VARIETY OF LOW COST BENEFIT PROGRAMS AND FINANCIAL SECURITY IN THE FORM OF LIFE INSURANCE AND SURVIVOR BENEFIT COVERAGES, WHICH ARE NOT OTHERWISE READILY AVAILABLE AT REASONABLE RATES OR WITHOUT LIMITING CLAUSES (SUCH AS WAR) TO MEMBERS OF THE ARMED SERVICES DUE TO THEIR OCCUPATION AND THE RISKS INVOLVED. 7249626 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 19 0 1 7 1 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X BRICE N SMITH 6158510800 1000 NORTHCHASE DR STE 220 GOODLETTSVILLE TN 37072 GL JONES BOARD OF ADVISORS MEMBER 1.00 X 822 0 0 BERNARD CHESMAN BOARD OF GOVERNORS MEMBER 2.00 X 0 0 0 SUSAN FAVERO BOARD OF GOVERNORS - VICE CHAIR 2.00 X 0 0 0 MARION W GREEN BOARD OF ADVISORS MEMBER 1.00 X 929 0 0 DEBRA KUBIET BOARD OF GOVERNORS - CHAIR 2.00 X 0 0 0 MARVIN T SMOOT BOARD OF GOVERNORS MEMBER 2.00 X 0 0 0 DENNIS O TONNESSLAN BOARD OF ADVISORS MEMBER 1.00 X 0 0 0 WILLIAM POWELL JR BOARD OF GOVERNORS MEMBER 2.00 X 614 0 0 DANIEL PARKER BOARD OF GOVERNORS MEMBER 2.00 X 677 0 0 SARAH BETH CLIATT BOARD OF ADVISORS MEMBER 1.00 X 0 0 0 LARRY K DAGLEY BOARD OF ADVISORS MEMBER 1.00 X 0 0 0 DAVID HOWARD BOARD OF ADVISORS MEMBER 1.00 X 0 0 0 CHARLES M INGRAM BOARD OF ADVISORS MEMBER 1.00 X 0 0 0 ANDREW PENZELL BOARD OF ADVISORS MEMBER 1.00 X 0 0 0 CHARLES SMITH JR BOARD OF GOVERNORS MEMBER 2.00 X 760 0 0 GEORGE F INDEST III BOARD OF ADVISORS MEMBER 1.00 X 0 0 0 TIMOTHY SLEMP BOARD OF ADVISORS MEMBER 1.00 X 0 0 0 BRICE N SMITH PRESIDENT 45.00 4.00 X 241270 0 32289 CHERYL A STONE VICE PRESIDENT 45.00 4.00 X 160935 0 27665 406007 0 59954 2 0 1 0 0 HIGH VALUE LEVEL TERM 524298 2644344 2644344 CHOICE LEVEL TERM 524298 1982740 1982740 SPOUSE COVERAGE/FAMILY PROTECTION 524298 441195 441195 LEVEL TERM, DECREASING TERM, SBP 524298 357139 357139 PLATINUM AD&D 524298 310207 310207 344826 344826 6080451 749497 749497 816085 626405 189680 189680 189680 10534050 10610480 -76430 -76430 -76430 6943198 0 0 6943198 105285 479503 231685 50993 30354 40287 44400 28400 30000 116078 97819 84980 3063 5649 36736 15187 MEMBERSHIP BENEFITS 5419754 POLICY ACQUISITION COST 239940 CONTRACT SERVICES 87050 BOARD RELATED EXPENSES 59800 42663 7249626 2172954 1559001 7302227 5641974 113035 203180 33841 31670 10126379 6529189 3133270 3597190 31446980 34573389 6962160 6804550 51164467 52410954 2375501 949287 441692 422637 28628395 29974087 31445588 31346011 X 0 0 0 0 19718879 21064943 19718879 21064943 51164467 52410954 X -306428 -105830 1758322 X X 0 1 X 1 0 2046218 2046218 4023622 2934761 1088861 3639516 3199246 440270 368885 357533 11352 48138 37649 10489 3597190 ACCRUED INVESTMENT INCOME 216291 DEFERRED POLICY ACQUISTION COSTS 6588259 6804550 HIGH VALUE LEVEL TERM REFUNDS PAYABLE 17818 RESERVE FOR FUTURE BENEFITS AND EXPENSES 28934972 PRESENT VALUE OF CLAIMS PAYABLE 896297 RESERVE FOR CLAIMS INCURRED BUT NOT REPORTED 125000 29974087 X 6837173 -105830 -195 -106025 6943198 0 6943198 7249431 0 7249431 195 195 7249626 PART X, LINE 2: ASMBA IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(19), AND, ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS. MANAGEMENT IS NOT AWARE OF ANY COURSE OF ACTION OR SERIES OF EVENTS THAT HAVE OCCURRED THAT MIGHT ADVERSELY AFFECT THE TAX EXEMPT STATUS OF THE ORGANIZATION. UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, AN UNCERTAIN TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. ASMBA HAD NO MATERIAL UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. AS OF MARCH 31, 2018 AND 2017, THE ASSOCIATION HAS ACCRUED NO INTEREST AND NO PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. IT IS THE ASSOCIATION'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. THE ASSOCIATION FILES U.S. FEDERAL INFORMATION TAX RETURNS. THE RETURNS ARE GENERALLY OPEN TO AUDIT UNDER THE STATUTES OF LIMITATIONS FOR THREE YEARS FOLLOWING THE LATER OF THE INITIAL DUE DATE OF THE RETURN OR THE DATE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: MISCELLANEOUS REVENUE -195. PART XII, LINE 4B - OTHER ADJUSTMENTS: MISCELLANEOUS REVENUE 195. 1 ASMBA STAR FOUNDATION 1000 NORTHCHASE DR STE 220 GOODLETTSVILLE TN 37072 263180510 501C(3) 105285 TO ESTABLISH A CORPUS AND FINANCIAL BASE FOR THE FOUNDATION. 1 1 PART I, LINE 2: ALL GRANTS ARE APPROVED BY THE BOARD OF GOVERNORS AND THESE APPROVALS ARE RECORDED WITHIN THE BOARD MINUTES. X X 1 1 X 0 0 0 BRICE N SMITH PRESIDENT 220650 0 20020 0 600 0 10594 0 21695 0 273559 0 0 0 CHERYL A STONE VICE PRESIDENT 139488 0 10588 0 10859 0 8471 0 19194 0 188600 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS OF BOARD MEMBERS ARE REPORTED AS INCOME TO THE BOARD MEMBER ON FORM 1099. HEALTH CLUB AND SOCIAL CLUB DUES ARE INCLUDED IN THE EMPLOYEES FORM W-2. FORM 990, PART VI, SECTION A, LINE 6 ASMBA IS A MEMBERSHIP-BASED ASSOCIATION. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF GOVERNORS ARE ELECTED BY THE MEMBERSHIP AND ALL BOARD OF GOVERNORS HAVE TO BE MEMBERS THEMSELVES. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY MANAGEMENT AND THE AUDIT COMMITTEE, THEN IT IS DISTRIBUTED TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE BOARD MEMBERS AND MANAGEMENT MEMBERS ARE ISSUED A QUESTIONNAIRE INQUIRING ON ANY CONFLICTS OF INTEREST. THESE FORMS ARE REQUIRED TO BE COMPLETED AND SIGNED BY BOARD MEMBERS AND MANAGEMENT TO CERTIFY THAT THERE WERE NO CONFLICTS. SHOULD THERE BE ANY CONFLICTS, THEY WOULD BE EVALUATED BY THE VICE PRESIDENT OF OPERATIONS AND THEN PRESENTED TO THE CHAIR OR THE BOARD BY THE VICE PRESIDENT OF OPERATIONS OR PRESIDENT. FORM 990, PART VI, SECTION B, LINE 15 FOR THE ASSOCIATION'S PRESIDENT, THE PROCESS INCLUDES ALL OF THESE ELEMENTS: (1) REVIEW AND APPROVAL BY THE BOARD OF GOVERNORS OF THE ASSOCIATION; (2) USE OF DATA AS TO COMPARABLE COMPENSATION; AND (3) CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING. 1. REVIEW AND APPROVAL: THE COMPENSATION OF THE PRESIDENT IS REVIEWED AND APPROVED BY THE BOARD OF GOVERNORS OF THE ASSOCIATION DURING THE CLOSED SESSION OF THE ANNUAL BOARD MEETING IN JUNE. PERSONS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THIS REVIEW AND APPROVAL. 2. USE OF DATA AS TO COMPARABLE COMPENSATION: THE COMPENSATION IS REVIEWED AND APPROVED USING DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. 3. CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING: THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE BOARD OF GOVERNORS DURING A CLOSED SESSION OF THE ANNUAL BOARD MEETING, BUT ALL OTHER SALARIES FOR THE ASSOCIATION ARE DETERMINED BY THE PRESIDENT. THE EMPLOYEES SALARIES ARE REVIEWED AT LEAST ON AN ANNUAL BASIS BY THE ASSOCIATION PRESIDENT. THE COMPENSATION IS REVIEWED AND APPROVED BY USING COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS IN THE NASHVILLE AREA. COST OF LIVING ADJUSTMENTS (COLA) ARE BASED ON THE HIGHER OF SOCIAL SECURITY, CPI-U OR THE MILITARY PAY INCREASE. THE APPROVED DOCUMENT IS SIGNED BY THE ASMBA PRESIDENT AND RETAINED BY THE ASSOCIATION FOR DOCUMENTATION. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC BY REQUEST. FORM 990, PART XI, LINE 9: FASB 158 ADJUSTMENT TO FUNDED STATUS OF PENSION PLAN 694,663. FASB 157 EQUITY ADJUSTMENT FOR VALUATION OF SECURITIES 1,063,659. FORM 990, PAGE 11, PART XI, LINE 2C THE OVERSIGHT AND SELECTION PROCESS FOR THE AUDIT HAS NOT CHANGED FROM THE PRIOR YEAR. SCHEDULE R, PART V, LINE 2 (3) AND 2 (4) ASMBA STAR FOUNDATION, INC. ("FOUNDATION") WAS FORMED AS A 501(C)(3) IN APRIL 2008. THE FOUNDATION WAS FUNDED BY CONTRIBUTIONS OF $250,000, $1,000,000, $285,000, $300,000, $300,000, $300,000, $40,000 AND $105,285 IN 2008, 2009, 2010, 2011, 2012, 2013, 2014 AND 2017 RESPECTIVELY, FROM ARMED SERVICES MUTUAL BENEFIT ASSOCIATION ("ASMBA"). THE EMPLOYEES AND ASSETS OF ASMBA WERE USED DURING THE START-UP OF THE FOUNDATION. NO VALUE HAS BEEN ASSIGNED TO THE USE OF ASMBA EMPLOYEES AND ASSETS; HOWEVER, ANY AMOUNTS INVOLVED ARE CONSIDERED MINIMAL. ASMBA STAR FOUNDATION 1000 NORTHCHASE DR STE 220 GOODLETTSVILLE TN 37072 263180510 PROVIDE ASSISTANCE FOR MILITARY SERVICE MEMBERS, VETERANS AND THEIR FAMILIES TN 501(C)(3) LINE 7 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 ASMBA STAR FOUNDATION B 105285 CASH ASMBA STAR FOUNDATION N VALUE NOT ASSIGNED ASMBA STAR FOUNDATION O VALUE NOT ASSIGNED ASMBA STAR FOUNDATION Q VALUE NOT ASSIGNED