American Armed Forces Mutual Aid Association
- Assets
- $1.3b
- Revenue
- $156.8m
- Investments
- $0.0
- Employees
- 273
- Location
- Fort Myer, VA
- Founding
- 05/1944
- Data as of
- 12/2021
- EIN
- 53-0213841
Organization Overview
American Armed Forces Mutual Aid Association is located in Fort Myer, VA. The organization was established in 1944. According to its NTEE Classification (W30) the organization is classified as: Military & Veterans Organizations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, American Armed Forces Mutual Aid Association employed 273 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Armed Forces Mutual Aid Association is a 501(c)(23) and as such, is described as a "Veterans Organization" by the IRS.
For the year ending 12/2021, American Armed Forces Mutual Aid Association generated $156.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $155.6m during the year ending 12/2021. While expenses have increased by 3.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO AID ITS MEMBERS AND FAMILIES IN A PROMPT, SIMPLE, SUBSTANTIAL MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AAFMAA'S PRIMARY ACTIVITY IS TO PROVIDE LIFE INSURANCE FOR THOSE INDIVIDUALS WHO QUALIFY UNDER THE INTERNAL REVENUE CODE (IRC) SECTION 501(C)(23) DEFINITION, WHICH MEANS THEY MUST BE PRESENT OR PAST MEMBERS OF THE UNITED STATES ARMED FORCES OR THEIR FAMILY MEMBERS. IN ADDITION, AAFMAA PROVIDES ASSISTANCE TO MEMBERS WITH MILITARY BENEFITS, RETIREMENT PLANNING, VETERANS ADMINISTRATION (VA) CLAIM PROCESSING, AND DOCUMENT STORAGE IN BOTH ITS PHYSICAL AND DIGITAL VAULTS. IT ALSO PROVIDES SURVIVOR ASSISTANCE FOR FAMILIES OF MILITARY MEMBERS TO ENSURE THAT SURVIVING FAMILY MEMBERS OBTAIN THEIR LIFE INSURANCE BENEFITS, SOCIAL SECURITY BENEFITS, VA BENEFITS, AND ALL OTHER APPROPRIATE ENTITLEMENTS.
AAFMAA WEALTH MANAGEMENT & TRUST LLC, A WHOLLY OWNED SUBSIDIARY FORMED IN 2012 AS A NORTH CAROLINA TRUST COMPANY AND REGULATED BY THE NORTH CAROLINA COMMISSIONER OF BANKS, PROVIDES FINANCIAL PLANNING, INVESTMENT MANAGEMENT, AND TRUST SERVICES TO THOSE QUALIFIED FOR AAFMAA SERVICES UNDER IRC SECTION 501(C)(23).
AAFMAA MORTGAGE SERVICES LLC, A WHOLLY OWNED SUBSIDIARY FORMED IN 2016 AND REGULATED BY THE NORTH CAROLINA COMMISSIONER OF BANKS, OFFERS VETERAN ADMINISTRATION (VA),FEDERAL HOUSING ADMINISTRATION (FHA), CONVENTIONAL, AND OTHER RESIDENTIAL MORTGAGE PRODUCTS TO THOSE QUALIFIED FOR AAFMAA SERVICES UNDER SECTION 501(C)(23).
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ross Cutler Vice President Of Business Development | 40 | $380,791 | |
James Havener President, Ams | Officer | 40 | $348,225 |
Stephen C Mannell President, Awmt | Officer | 40 | $343,609 |
Anthony J Powell Evp, Ams | Officer | 40 | $343,494 |
Kevin W Holton Vp, Branch Sales, Ams | 40 | $336,223 | |
Michael J Meese President | OfficerTrustee | 40 | $329,685 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eddy Squared Llc Actuarial Services | 12/30/21 | $140,006 |
Metrostar Systems Inc It Services | 12/30/21 | $4,543,961 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $56,706,138 |
| Investment income | $56,443,726 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,473,794 |
| Net Gain/Loss on Asset Sales | $31,387,214 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $156,820,924 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $100,796,917 |
| Compensation of current officers, directors, key employees. | $4,637,427 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,851,576 |
| Pension plan accruals and contributions | $374,678 |
| Other employee benefits | $920,518 |
| Payroll taxes | $1,694,100 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,923 |
| Fees for services: Accounting | $83,975 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,330,441 |
| Fees for services: Other | $2,302,309 |
| Advertising and promotion | $2,602,319 |
| Office expenses | $4,406,015 |
| Information technology | $3,874,574 |
| Royalties | $0 |
| Occupancy | $879,778 |
| Travel | $128,879 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $317,435 |
| Interest | $607,039 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,974,912 |
| Insurance | $294,531 |
| All other expenses | $260,361 |
| Total functional expenses | $155,623,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,312,348 |
| Savings and temporary cash investments | $51,590,898 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,372,562 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $79,305,934 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $488,770 |
| Net Land, buildings, and equipment | $214,196,250 |
| Investments—publicly traded securities | $742,041,559 |
| Investments—other securities | $0 |
| Investments—program-related | $238,306,552 |
| Intangible assets | $0 |
| Other assets | $13,794,510 |
| Total assets | $1,347,409,383 |
| Accounts payable and accrued expenses | $6,094,358 |
| Grants payable | $0 |
| Deferred revenue | $4,344,121 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $81,780,169 |
| Total liabilities | $92,218,648 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,255,190,735 |
| Total liabilities and net assets/fund balances | $1,347,409,383 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Navy Mutual Aid Association Arlington, VA | $3,268,377,418 | $252,544,818 |
United Service Organizations Inc Arlington, VA | $122,875,753 | $178,376,882 |
American Armed Forces Mutual Aid Association Fort Myer, VA | $1,347,409,383 | $156,820,924 |
Disabled American Veterans Erlanger, KY | $647,271,297 | $170,633,533 |
Army Emergency Relief Arlington, VA | $416,891,741 | $42,370,093 |
Disabled Veterans National Foundation Lanham, MD | $4,002,703 | $34,751,168 |
Navy-Marine Corps Relief Society Arlington, VA | $160,427,961 | $29,210,374 |
Military Officers Association Of America Alexandria, VA | $184,530,638 | $38,032,797 |
Military Order Of The Purple Heart Service Foundation Inc Annandale, VA | $2,548,586 | $20,677,650 |
Air Force Aid Society Inc Arlington, VA | $262,482,165 | $46,086,376 |
American Legion Bowling Green, KY | $1,050,755 | $11,898,405 |
The National Military Family Association Alexandria, VA | $8,448,648 | $9,411,080 |