2017-11-09T13:19:47-06:00 2016-12-31 521446779 JOHNSON LAMBERT LLP 4242 SIX FORKS RD STE 1500 RALEIGH NC 27609 990 2016-01-01 530116720 NAVY MUTUAL AID ASSOCIATION NAVY 8006286011 29 CARPENTER RD - HENDERSON HALL ARLINGTON VA 22212 BRUCE B ENGELHARDT PRESIDENT 7036141638 2017-11-09 1 JOHN HUSKINS P01081531 9197196400 2017-11-09 66.77.128.118 2017-11-09 14:19:20 ES P E92EC12878E6ED9F107DFBFC32DE29E76F0C1F5F E92EC12878E6ED9F107DFBFC32DE29E76F0C1F5F 2016 2021-01-29 14:40:06Z BRUCE B ENGELHARDT 29 CARPENTER RD - HENDERSON HALL ARLINGTON VA 22212 484586602 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 15 144 17 86267 5917 0 0 80951286 76384656 197538058 174674448 1227741 1211980 279717085 252271084 0 0 138919469 135303798 13969844 17375969 0 0 0 88108927 82913894 240998240 235593661 38718845 16677423 2925614194 3003952104 2660111593 2721531498 265502601 282420606 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 6222 0 1 144 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 PETER B COLLINS 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 CATHERINE MULE 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 ANTHONY WINNS DIRECTOR 1.00 X 0 0 0 CHRISTINE HUNTER DIRECTOR FROM 5/2016 1.00 X 0 0 0 NITA SOOD DIRECTOR FROM 5/2016 1.00 X 0 0 0 MICHAEL MCDANIEL DIRECTOR THRU 5/2016 1.00 X 0 0 0 CATE MUELLER DIRECTOR THRU 5/2016 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 687440 0 46727 DAVID FRIDELL CHIEF FINANCIAL OFFICER 40.00 X 432628 0 86158 STEPHEN PIETROPAOLI CHIEF OPERATIONG OFFICER 40.00 X 309479 0 105801 JACK MCVEIGH VP MARKETING & SALES 40.00 X 433461 0 67095 MICHELLE BRICKWEDDE VP HUMAN RESOURCES 40.00 X 273427 0 65614 LAUREN BLOOM GENERAL COUNSEL & VP GOVERNMENT AFFAIRS 40.00 X 271733 0 111884 SANGEETA JACOB VP OPERATIONS 40.00 X 260128 0 76466 JAMIE MALTESE VP INVESTEMENTS 40.00 X 220108 0 61921 DAVE BRAGG VP INFORMATION TECHNOLOGY 40.00 X 214920 0 56671 ADAM MULLINS VP FINANCE & ACCOUNTING 40.00 X 201725 0 60535 ROBERT HOLT DIRECTOR OF SALES 40.00 X 236859 0 47900 MIRANDA DEDJA DIRECTOR, ADMINISTRATION & FACILITIES 40.00 X 233413 0 95810 ELIZABETH FALKEY DIRECTOR, IT BUSINESS RELATIONSHIPS 40.00 X 222150 0 42496 RYAN HUTCHISON SALES REPRESENTATIVE 40.00 X 201450 0 31275 WEI HU ACTUARY 40.00 X 173836 0 62719 4372757 0 1019072 49 0 1 0 ACCENTURE LLP 161 N CLARK ST CHICAGO IL 60601 ALIP CONSULTING 3342039 WHITE & PARTNERS 13665 DULLES TECHNOLOGY DR HERNDON VA 20171 ADVERTISING/MARKETING 1965966 QUINSTREET INC PO BOX 8398 PASADENA CA 91109 ADVERTISING/MARKETING 1635085 THE LIFE & ANNUITY GROUP INC ONE CONSTITUTION PLAZA HARTFORD CT 06103 ALIP CONSULTING 1401339 VALUEMOMENTUM INC 3001 HADLEY RD SOUTHFIELD NJ 07080 ALIP CONSULTING 1129770 33 NET EARNED PREMIUM 524113 61368376 61368376 ANNUITY CONSIDERATIONS 524298 13374988 13374988 SURVIVOR INCOME DEPOSITS 524298 1641292 1641292 76384656 173116042 86267 173029775 233873924 232315518 1558406 1558406 1558406 AMORTIZATION OF IMR 524298 1211980 1211980 1211980 252271084 76384656 86267 175800161 135303798 4043921 9017173 1590328 1939283 785264 256383 201966 570109 2507741 5146446 798108 2735478 283124 209056 8390820 CHANGE IN LIFE RESERVE 60632411 MEDICAL EXPENSES 1182252 235593661 50597621 54151258 4 67504 167176760 168585637 909306 484043 494696 425263 1929809191 1972433631 746606818 777135860 30929104 31152951 2925614194 3003952104 31424059 37236797 1163877 1135974 13279 20159 2627510378 2683138568 2660111593 2721531498 X 265502601 282420606 265502601 282420606 2925614194 3003952104 X 16677423 1057526 -816944 X 0 1 X 1 0 0 1 X 909306 484043 425263 425263 REAL ESTATE LIMITED PARTNERSHIP 2273586 F PRIVATE PLACEMENT BONDS 766748644 F REAL ESTATE CONSOLIDATED CORP. & PARTNERSHIP 8113630 F 777135860 RESERVE FOR LIFE CONTRACTS 2526990661 LIABILITY FOR DEPOSIT-TYPE CONTRACTS 119147160 ASSET VALUATION RESERVE 19063715 EMPLOYEE BENEFITS 9819784 INTEREST MAINTENANCE RESERVE 8117248 2683138568 250048501 1057526 1057526 248990975 570109 2710000 3280109 252271084 232313552 0 232313552 570109 2710000 3280109 235593661 PART IV, LINE 2B: NMAA HOLDS AMOUNTS IN ESCROW FOR MEDICAL AND DEPENDENT CARE. PART XI, LINE 4B - OTHER ADJUSTMENTS: EXPENSE ALLOCATION 2,710,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: EXPENSE ALLOCATION 2,710,000. CENTRAL AMERICA AND THE CARIBBEAN 0 0 DEBT INVESTMENTS 23811997 EAST ASIA AND THE PACIFIC 0 0 DEBT INVESTMENTS 65595829 EUROPE 0 0 DEBT INVESTMENTS 152999926 MIDDLE EAST AND NORTH AFRICA 0 0 DEBT INVESTMENTS 38475762 NORTH AMERICA 0 0 DEBT INVESTMENTS 80840659 0 0 0 0 0 0 361724173 0 361724173 0 0 0 0 0 0 X 1 1 X X X X X 1 0 0 BRUCE ENGELHARDT PRESIDENT 353760 0 290000 0 43680 0 13621 0 33106 0 734167 0 0 0 DAVID FRIDELL CHIEF FINANCIAL OFFICER 254628 0 160000 0 18000 0 47274 0 38884 0 518786 0 0 0 STEPHEN PIETROPAOLI CHIEF OPERATIONG OFFICER 198448 0 70000 0 41031 0 73040 0 32761 0 415280 0 0 0 JACK MCVEIGH VP MARKETING & SALES 66441 0 55000 0 312020 0 62073 0 5022 0 500556 0 170780 0 MICHELLE BRICKWEDDE VP HUMAN RESOURCES 223123 0 50000 0 304 0 47919 0 17695 0 339041 0 0 0 LAUREN BLOOM GENERAL COUNSEL & VP GOVERNMENT AFFA 198733 0 38500 0 34500 0 84269 0 27615 0 383617 0 0 0 SANGEETA JACOB VP OPERATIONS 174612 0 55000 0 30516 0 37798 0 38668 0 336594 0 0 0 JAMIE MALTESE VP INVESTEMENTS 160201 0 50000 0 9907 0 26078 0 35843 0 282029 0 0 0 DAVE BRAGG VP INFORMATION TECHNOLOGY 142920 0 30000 0 42000 0 37899 0 18772 0 271591 0 0 0 ADAM MULLINS VP FINANCE & ACCOUNTING 140256 0 50000 0 11469 0 24452 0 36083 0 262260 0 0 0 ROBERT HOLT DIRECTOR OF SALES 198168 0 25000 0 13691 0 32553 0 15347 0 284759 0 0 0 MIRANDA DEDJA DIRECTOR, ADMINISTRATION & FACILITIE 131413 0 60000 0 42000 0 79652 0 16158 0 329223 0 0 0 ELIZABETH FALKEY DIRECTOR, IT BUSINESS RELATIONSHIPS 125750 0 82000 0 14400 0 28453 0 14043 0 264646 0 0 0 RYAN HUTCHISON SALES REPRESENTATIVE 77888 0 105562 0 18000 0 16504 0 14771 0 232725 0 0 0 WEI HU ACTUARY 124836 0 25000 0 24000 0 27360 0 35359 0 236555 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 11B 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 2016. 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 -1,572,523. CHANGE IN NON-ADMITTED ASSETS 892,822. CHANGE IN ADDITIONAL MINIMUM LIABILITY FOR POSTRETIREMENT BENEFITS 1,058,693. CHANGE IN ACCOUNTING PRINCIPLE -1,195,936.