philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Navy Mutual Aid Association

Not tax-deductible

City of Arlingto, VAMutual-benefit / member-servingSince 1879Public & Societal BenefitEIN 53-0116720Revenue $284.9M in FY2024

On file with the IRSnavymutual.org29 Carpenter Rd, 22212-0000 · City of Arlingto, VATax-exempt since Mar 1942

This page gets seen. Tell your story. Claim this org.

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 members of the sea services and other uniformed personnel and their families in securing federal benefits to which they may be legally entitled, and advise and educate uniformed personnel and their families on matters of financial security.

Run by 17 volunteers and 141 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $4.0M a year · 1% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$4.2M
to officers and key staff · 2% of spending
Top officer’s pay higher than 56% of similar orgs
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.0B
91% of total assets
Concern: liabilities are 91% of assets; over 80%.
Pt X · Ln 26
Independent board members
13
of 14 voting members
Looks good: 13 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$284.9M
-9% vs prior year
Spent
$280.1M
Net assets
$315.5M
By yearFY2020–FY2024
Revenue
$284.9M
FY2024▼ -9%
Tap a bar for its year
Revenue by fiscal year
FY2020$255.1M
FY2021$252.5M
FY2022$302.6M
FY2023$311.8M
FY2024$284.9M
Expenses
$280.1M
FY2024▼ -12%
Tap a bar for its year
Expenses by fiscal year
FY2020$249.4M
FY2021$241.9M
FY2022$298.1M
FY2023$317.6M
FY2024$280.1M
Net assets
$315.5M
FY2024▲ +1%
Tap a bar for its year
Net assets by fiscal year
FY2020$324.6M
FY2021$349.1M
FY2022$345.0M
FY2023$311.5M
FY2024$315.5M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1942.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

26 people listed on the 990; $4.2M paid to officers and key staff.

Part VII, Section A · reportable compensation
$886,154Pt VII · Sec A
James Maltese
Senior VP, Investments
$488,896Pt VII · Sec A
Adam Mullins
Chief Fianancial Officer
$471,582Pt VII · Sec A
$394,734Pt VII · Sec A
Peter Meyers
VP, Solutions & Technology
$381,834Pt VII · Sec A
Lindsay McFarland
VP, Member Services
$353,890Pt VII · Sec A
Frederick Molen
Director, Actuary
$328,990Pt VII · Sec A
Brandon Smithhart
Director, Underwriting
$238,325Pt VII · Sec A

Rdml Brian Luther Usn Ret’s $886K as President & CEO is at the 56th percentile of top reported officer pay among 59 $100M+ public & societal benefit nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Rdml Brian Luther Usn Ret$886,154————
Rdml Brian Luther—$836,429$782,485$736,218$473,045
Radm Bruce Engelhardt————$832,225
James Maltese$488,896$473,446$454,354——
Adam Mullins$471,582$469,602$461,245$417,978$387,980
Sangeeta Jacob——$291,593$463,817$434,377
Miranda Dedja——$225,257$435,200$402,467
Jamie Maltese———$430,360$398,445

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Navy Mutual Aid Association executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Claim this org to fix it.

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers affordable life insurance and financial guidance to uniformed service members and veterans.

Questions for Navy Mutual Aid Association

Tap to ask. Navy Mutual Aid Association sees how many people are interested.

Your first name shows with your question. Navy Mutual Aid Association answers here, for everyone.

Provided by the organization

Know this organization? Claim it to add your story

3 programs · in their own filed words · FY2024
01

As a federally recognized veterans service organization, navy mutual presents educational programs to members of the uniformed services and their families to assist them in understanding military survivor benefits.

Pt IX · col B
02

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.

Pt IX · col B
03

As a federally recognized 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, including representation before the veterans benefits administration and board of veterans'…

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$284.9M
Ln 12
Investment incomeLn 3$177.2M
Fees for servicesLn 2g$104.5M
Other incomeLn 4–11$3.2M
Money outPt IX
$280.1M
Ln 25
Owns and owesPt X
$315.5M
net assets · Ln 32
Cash and savingsLn 1–2$48.8M
Total assetsLn 16$3.3B
LiabilitiesLn 26$3.0B
PeoplePt VI, VII
26
listed · VII A
PaidVII A11
Voting boardVI 1a14
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$104.5M
Investment incomeLn 3$177.2M
Other incomeLn 4–11$3.2M
Gains on assetsLn 7−$2.2M
Total revenueLn 12$284.9M
Assets in detailPt X, end of year
CashLn 1$10.4M
SavingsLn 2$38.4M
Cash and savings togetherLn 1–2$48.8M
InvestmentsLn 11–13$3.09B
Land, buildings, equipmentLn 10c$244K
Other assetsLn 15$34.6M
Total assetsLn 16$3.3B
LiabilitiesLn 26$3.0B
Net assetsLn 32$315.5M
OperationsPt I, VI
EmployeesI 5141
VolunteersI 617
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$46.8M$48.8M
InvestmentsLn 11–13$3.06B$3.09B
Land, buildings, equipmentLn 10c$234K$244K
Total assetsLn 16$3.31B$3.34B
LiabilitiesLn 26$3.00B$3.03B
Net assetsLn 32$311.5M$315.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$203.2M
Pay of current officers, directors and key staffLn 5$3.2M
Other salaries and wagesLn 7$14.7M
Pension plan contributionsLn 8$1.0M
Other employee benefitsLn 9$2.5M
Payroll taxesLn 10$1.1M
Legal feesLn 11b$264K
Accounting feesLn 11c$532K
Investment management feesLn 11f$615K
Other fees for servicesLn 11g$3.0M
Advertising and promotionLn 12$6.2M
Office expensesLn 13$2.4M
Information technologyLn 14$5.4M
OccupancyLn 16$397K
TravelLn 17$499K
Conferences, conventions and meetingsLn 19$3K
Depreciation, depletion and amortizationLn 22$2.5M
Other expenses (24a–d)Ln 24$32.5M
All other expensesLn 24e$90K
Total functional expensesLn 25$280.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $284.9M$280.1M$4.7M$315.5M 990 PDF
FY2023 $311.8M$317.6M−$5.8M$311.5M 990 PDF
FY2022 $302.6M$298.1M$4.5M$345.0M 990 PDF
FY2021 $252.5M$241.9M$10.6M$349.1M 990 PDF
FY2020 $255.1M$249.4M$5.7M$324.6M 990 PDF

Want to add your own materials alongside these filings? Claim this org

Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $284,879,145 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $118,905,389$104,483,931
I-10 Investment incomePrior year $189,154,836$177,196,191
I-11 Other revenuePrior year $3,701,785$3,199,023
I-12 Total revenuePrior year $311,762,010$284,879,145
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $224,716,149$203,170,104
I-15 Salaries and benefitsPrior year $22,142,727$22,637,633
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $70,747,275$54,328,367
I-18 Total expensesPrior year $317,606,151$280,136,104
I-19 Revenue less expensesPrior year −$5,844,141$4,743,041
Part VI · Governance 13 of 14 board members independent, no flags
VI-1a Voting members of the governing body14
VI-1b Independent voting members13
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $284,879,145 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $104,483,931$104,483,931
VIII-3 Investment incomeUnrelated business $327,732 · Excluded from tax $179,047,293$179,375,025
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$2,178,834−$2,178,834
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $3,199,023$3,199,023
VIII-12 Total revenueRelated to mission $104,483,931 · Unrelated business $327,732 · Excluded from tax $180,067,482$284,879,145
Part IX · Statement of functional expenses $280,136,104 across 19 lines filed
IX-4 Benefits paid to or for members$203,170,104
IX-5 Pay of current officers, directors and key staff$3,209,095
IX-7 Other salaries and wages$14,723,886
IX-8 Pension plan contributions$1,038,846
IX-9 Other employee benefits$2,529,147
IX-10 Payroll taxes$1,136,659
IX-11b Legal fees$263,594
IX-11c Accounting fees$532,448
IX-11f Investment management fees$614,733
IX-11g Other fees for services$3,048,421
IX-12 Advertising and promotion$6,183,710
IX-13 Office expenses$2,377,228
IX-14 Information technology$5,388,127
IX-16 Occupancy$397,362
IX-17 Travel$498,870
IX-19 Conferences, conventions and meetings$2,824
IX-22 Depreciation, depletion and amortization$2,477,512
IX-24 Other expenses (24a–d)$32,453,241
IX-24e All other expenses$90,297
IX-25 Total functional expenses$280,136,104
Part X · Balance sheet $3,341,207,802 assets, 15 lines filed
Asset lines not itemized here account for $171,267,526; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $10,678,275$10,400,157
X-2 Savings and temporary cash investmentsStart of year $36,091,048$38,434,486
X-4 Accounts receivableStart of year $3,972,853$732,364
X-10c Land, buildings and equipment, netStart of year $234,478$244,090
X-11 Publicly traded securitiesStart of year $1,889,507,536$1,856,474,078
X-12 Other securitiesStart of year $1,171,119,071$1,229,095,156
X-15 Other assetsStart of year $34,144,134$34,559,945
X-16 Total assetsStart of year $3,312,205,022$3,341,207,802
X-17 Accounts payable and accrued expensesStart of year $54,156,677$54,976,101
X-19 Deferred revenueStart of year $886,153$847,469
X-25 Other liabilitiesStart of year $2,945,589,320$2,969,859,835
X-26 Total liabilitiesStart of year $3,000,681,256$3,025,740,793
X-27 Net assets without donor restrictionsStart of year $311,523,766$315,467,009
X-32 Total net assets or fund balancesStart of year $311,523,766$315,467,009
X-33 Total liabilities and net assetsStart of year $3,312,205,022$3,341,207,802
Part XI · Reconciliation of net assets $315,467,009 net assets at year end
XI-1 Total revenue$284,879,145
XI-2 Total expenses$280,136,104
XI-3 Revenue less expenses$4,743,041
XI-4 Net assets at start of year$311,523,766
XI-5 Net unrealized gains (losses) on investments$4,403,836
XI-9 Other changes in net assets−$5,203,634
XI-10 Net assets at end of year$315,467,009

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.