2012-08-03T11:29:47-05:00 2011-12-31 521446779 JOHNSON LAMBERT LLP 700 SPRING FOREST ROAD STE 115 RALEIGH NC 27609 990 2011-01-01 530116720 NAVY MUTUAL AID ASSOCIATION NAVY 7036141638 29 CARPENTER RD - HENDERSON HALL ARLINGTON VA 22212 BRUCE B ENGELHARDT 7036141638 2012-08-02 1 9197196400 2011 2016-02-24 21:20:13Z BRUCE B ENGELHARDT 29 CARPENTER RD - HENDERSON HALL ARLINGTON VA 22212 417759374 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 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. 20 19 100 0 0 0 0 0 87471964 86545369 148537673 173423856 905554 1038343 236915191 261007568 0 0 102871713 125751982 8561746 8565688 0 0 0 122621538 110347643 234054997 244665313 2860194 16342255 2571859432 2681325206 2380534008 2481988060 191325424 199337146 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 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 8 0 1 100 1 0 0 0 0 0 0 X 20 19 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 ERICA SCHWARTZ 1.00 X 0 0 0 FRANK THORP IV 1.00 X 0 0 0 GARY LABUDA 1.00 X 0 0 0 ISAIAH COLE 1.00 X 0 0 0 JAMES CARMAN 1.00 X 0 0 0 JAN GAUDIO 1.00 X 0 0 0 JOHN LUECKE 1.00 X 0 0 0 JOHN ROOTS 1.00 X 0 0 0 KATHLEEN MARTIN 1.00 X 0 0 0 LEO WILLIAMS 1.00 X 0 0 0 MARK WILSON 1.00 X 0 0 0 MICHAEL MCDANIEL 1.00 X 0 0 0 MICHELLE MCATEE 1.00 X 0 0 0 MIKE J WILLIAMS 1.00 X 0 0 0 PATRICK STILLMAN 1.00 X 0 0 0 STANELY R SZEMBORSKI 1.00 X 0 0 0 RICHARD MIES THRU 42011 1.00 X 0 0 0 JEFFREY OSTER 1.00 X X 0 0 0 RANDY WELCH 1.00 X X 0 0 0 BRUCE ENGELHARDT 40.00 X X 439584 0 73328 JENNIFER CASE THRU 32011 40.00 X 52438 0 3319 DAVID FRIDELL 40.00 X 88061 0 1949 ALLEN MCCRAY 40.00 X 196360 0 44988 D TIMOTHY EDDY THRU 12011 40.00 X 223942 0 32923 JOHN MCVEIGH 40.00 X 214974 0 30414 LAUREN BLOOM 40.00 X 220751 0 49033 MICHELLE BRICKWEDDE 40.00 X 233354 0 30232 THOMAS BENTON 40.00 X 195652 0 11185 MICHELLE SMITH 40.00 X 152371 0 30052 ANTHONY GLASSFORD 40.00 X 137351 0 23974 MARK SUMMERS 40.00 X 138717 0 25932 SANGEETA JACOB 40.00 X 172907 0 32936 VIRGINIA HAYES 40.00 X 131314 0 20334 MICHAEL WEISENBURG 40.00 X 106605 0 27830 2704381 0 438429 13 0 1 0 ACCENTURE 5 SPRING STREET MURRAY HILL NJ 07974 CONVERSION SUPPORT 9340258 WHITE & PARTNERS 13665 DULLES TECHNOLOGY DR STE 150 HERNDON VA 20171 MARKETING 1088077 SEGUE TECHNOLOGIES 2300 WILSON BLVD STE 420 ARLINGTON VA 22201 CONVERSION SUPPORT 584218 HOOPER HOLMES 170 MT AIRY ROAD BASKING RIDGE NJ 07920 LAB SERVICES 527032 MONSTER MEDIAWORKS 517 S LAKE DESTINY ROAD SUITE 100 ORLANDO FL 32810 SALES SERVICES 411931 18 NET EARNED PREMIUMS 524113 53651691 53651691 SUPPLEMENTAL CONTRACTS 524298 32357812 32357812 ANNUITY CONSIDERATIONS 524298 535866 535866 86545369 160888557 160888557 169287105 156751806 12535299 12535299 12535299 AMORTIZATION OF IMR 524298 1038343 1038343 1038343 261007568 86545369 0 174462199 125751982 2324910 3769684 1092456 842903 535735 210495 157085 535822 2121423 2748149 1104044 597614 138813 131362 347805 CHANGE IN LIFE RESERVE 78819477 EXCESS INTEREST CREDIT 22186634 MEDICAL EXPENSES 670395 CHANGE IN EMPLOYEE BENE 578525 244665313 43502907 95156959 153640193 157869678 7651607 3733304 3881607 3918303 2068681311 1999003842 273186670 396511740 28966744 28864684 2571859432 2681325206 22714428 29891331 360742 1209370 9446 14356 2357449392 2450873003 2380534008 2481988060 X 191325424 199337146 191325424 199337146 2571859432 2681325206 X 16342255 -8330533 X 0 1 1 X 0 0 1 5986111 2330790 3655321 1665496 1402514 262982 3918303 MORTGAGE LOANS 45414980 C REAL ESTATE LIMITED PARTNERSHIP 8877521 F PRIVATE PLACEMENT BONDS 294149478 F REAL ESTATE CONSOLIDATED CORP. & PARTNERSHIP 8339865 F SECURITIES LENDING 39729896 C 396511740 RESERVE FOR LIFE CONTRACTS 2162673753 LIABILITY FOR DEPOSIT-TYPE CONTRACTS 212519974 ASSET VALUATION RESERVE 21383630 INTEREST MAINTENANCE RESERVE 6527263 EMPLOYEE BENEFITS 7524913 SECURITIES LENDING RESERVE 40243470 2450873003 261007568 244665313 16342255 -17193041 8862508 -8330533 8011722 258590423 0 258590423 535822 1881323 2417145 261007568 242248168 0 242248168 535822 1881323 2417145 244665313 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 4,426,371. CHANGE IN NON-ADMITTED ASSETS -11,699,143. CHANGE IN ADDITIONAL MINIMUM LIABILITY FOR POSTRETIREMENT BENEFITS -916,496. CHANGE IN ACCOUNTING PRINCIPLE - RESERVE VALUATION BASIS 17,051,776. TOTAL TO SCHEDULE D, PART XI, LINE 8: 8,862,508. PART XII, LINE 4B - OTHER ADJUSTMENTS: EXPENSE ALLOCATION 1,881,323. PART XIII, LINE 4B - OTHER ADJUSTMENTS: EXPENSE ALLOCATION 1,881,323. X 1 1 X X X X X 0 0 0 BRUCE ENGELHARDT 251084 0 150000 0 38500 0 47900 0 25428 0 512912 0 0 0 ALLEN MCCRAY 133910 0 41000 0 21450 0 31800 0 13188 0 241348 0 0 0 D TIMOTHY EDDY THRU 12011 167942 0 34000 0 22000 0 32300 0 623 0 256865 0 174127 0 JOHN MCVEIGH 125474 0 51000 0 38500 0 26700 0 3714 0 245388 0 0 0 LAUREN BLOOM 159251 0 45000 0 16500 0 31500 0 17533 0 269784 0 0 0 MICHELLE BRICKWEDDE 159854 0 57000 0 16500 0 20500 0 9732 0 263586 0 0 0 THOMAS BENTON 137652 0 36000 0 22000 0 0 0 11185 0 206837 0 0 0 MICHELLE SMITH 122260 0 22000 0 8111 0 14300 0 15752 0 182423 0 0 0 ANTHONY GLASSFORD 85751 0 27000 0 24600 0 19900 0 4074 0 161325 0 0 0 MARK SUMMERS 96660 0 20000 0 22057 0 16200 0 9732 0 164649 0 0 0 SANGEETA JACOB 118202 0 37000 0 17705 0 14800 0 18136 0 205843 0 0 0 VIRGINIA HAYES 76314 0 22000 0 33000 0 16800 0 3534 0 151648 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 DECEMBER 2011. 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 LOSSES ON INVESTMENTS: -17,193,041. CHANGE IN ASSET VALUATION RESERVE 4,426,371. CHANGE IN NON-ADMITTED ASSETS -11,699,143. CHANGE IN ADDITIONAL MINIMUM LIABILITY FOR POSTRETIREMENT BENEFITS -916,496. CHANGE IN ACCOUNTING PRINCIPLE - RESERVE VALUATION BASIS 17,051,776. TOTAL TO FORM 990, PART XI, LINE 5: -8,330,533.