Program areas at American Armed Forces Mutual Aid Association
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 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).
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).
Personnel at American Armed Forces Mutual Aid Association
| Name | Title | Compensation | Date of data |
|---|
| Charles B. Betancourt | Chief Operating Officer , Aafmaa Property | $264,428 | 2023-08-28 |
| Col Jerry Quinn, Usar | Chief Operating Officer and Secretary | | 2023-08-28 |
| Mark Matsuura | Chief Financial Officer | | 2023-08-28 |
| Steve Mannell | President , Aafmaa | | 2023-08-28 |
| Kevin A. Kincaid | Chief Marketing | $207,672 | 2023-08-28 |
| ...and 31 more key personnel |
Financials for American Armed Forces Mutual Aid Association
| Revenues | FYE 12/2022 | FYE 12/2021 | % Change |
|---|
| Total grants, contributions, etc. | $0 | $0 | - |
| Program services | $52,724,290 | $56,706,138 | -7% |
| Investment income and dividends | $54,941,115 | $56,443,726 | -2.7% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $4,433,822 | $2,473,794 | 79.2% |
| Net gain from sale of non-inventory assets | $11,001,251 | $31,387,214 | -64.9% |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $7,554,382 | $9,810,052 | -23% |
| Total revenues | $130,654,860 | $156,820,924 | -16.7% |
Organizations like American Armed Forces Mutual Aid Association
| Organization | Type | Location | Revenue |
|---|
| Southern Mutual Church Insurance | 501(c)(4) | Columbia, SC | $67,035,993 |
| Self-Insurers Security Fund | 501(c)(6) | Oakland, CA | $58,713,916 |
| Workers' Compensation Reinsurance Association | 501(c)(27) | Saint Paul, MN | $321,335,040 |
| Workers' Compensation Security Fund (WCSF) | 501(c)(6) | Basking Ridge, NJ | $33,850,495 |
| Chesapeake Employers Insurance Company | 501(c)(27) | Towson, MD | $337,070,745 |
| Unsatisfied Claim and Judgment Fund (UCJF) | 501(c)(6) | Basking Ridge, NJ | $82,185,969 |
| Motor Vehicle Accident Indemnification Corporation (MVAIC) | 501(c)(6) | New York, NY | $60,707,232 |
| Catholic United Financial | 501(c)(8) | Arden Hills, MN | $71,850,379 |
| Nevada Health Co-Op | 501(c)(29) | Las Vegas, NV | $55,750,034 |
| Police and Firemens Insurance Association | 501(c)(8) | Carmel, IN | $49,174,079 |
Data update history
August 28, 2023
Updated personnel
Identified 7 new personnel
July 19, 2023
Posted financials
Added Form 990 for fiscal year 2022
July 13, 2023
Used new vendors
Identified 18 new vendors, including , , , , , , , , , , , , , , , , , and
July 1, 2023
Updated personnel
Identified 6 new personnel
June 13, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
Mutual assistance organizationsInsurance companiesEnvironmental organizations
Issues
Military and veterans
Characteristics
Memberships
General information
- Address
- 102 Sheridan Ave
- Fort Myer, VA 22211
- Metro area
- Washington-Arlington-Alexandria, DC-VA-MD-WV
- County
- Arlington County, VA
- Website URL
- aafmaa.com/Â
- Phone
- (703) 707-4600
- Facebook page
- AAFMAAÂ
- Twitter profile
- @aafmaaÂ
IRS details
- EIN
- 53-0213841
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 1879
- Eligible to receive tax-deductible contributions (Pub 78)
- No
Categorization
- NTEE code, primary
- Y20: Insurance Providers, Services
- NAICS code, primary
- 524126: Direct Property and Casualty Insurance Carriers
- Parent/child status
- Independent
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