Nonprofit · EIN 53-0209087
ARMED FORCES BENEFIT ASSOCIATION
Tax-exempt · ALEXANDRIA, VA 22314
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $162,908,056 | $147,057,886 | $15,850,170 | $195,351,756 | $82,178,700 | $113,173,056 |
| December 31, 2023 | 990 | $156,212,942 | $147,965,849 | $8,247,093 | $183,355,173 | $91,318,699 | $92,036,474 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $155,876,953
- Investment income
- $6,001,049
- Net rental income
- $351,257
- Net gain from sales of assets
- $3,555,671
- Other revenue
- $1,030,054
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $91,681,556
- Compensation of officers, directors and key employees
- $3,571,759
- Other salaries and wages
- $12,623,926
- Salaries, compensation and benefits (total)
- $19,213,848
- Professional fundraising fees
- $0
- Legal fees
- $210,001
- Accounting fees
- $131,099
- Occupancy
- $1,300,204
- Travel
- $1,329,567
- Depreciation
- $499,649
Balance sheet and other
- Total assets, start of year
- $183,355,173
- Total assets, end of year
- $195,351,756
- Total liabilities, end of year
- $82,178,700
- Net assets, end of year
- $113,173,056
- Land, buildings and equipment
- $11,705,685
- Publicly traded securities
- $83,483,075
- Gross receipts
- $246,915,356
- Employees
- 148
- Volunteers
- 0
- Year formed
- 1947
- State of legal domicile
- VA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| GEN L SPENCER USAF RET | PRESIDENT Trustee or director, Officer | 27 | $1,357,104 | $0 | $22,546 |
| D FRENCH | CFO Officer | 40 | $573,987 | $0 | $40,172 |
| M MOSER | SVP, GENERAL COUNSEL Officer | 20 | $0 | $521,925 | $40,525 |
| A HOOVER | SVP, HUMAN RESOURCES Officer | 40 | $305,738 | $0 | $34,664 |
| B ABEBE | CIO Officer | 40 | $300,774 | $0 | $32,998 |
| C KLEIN | CAE Officer | 40 | $282,966 | $0 | $33,772 |
| J PAULIN | SVP, OPERATIONS Officer | 40 | $270,579 | $0 | $32,266 |
| T SHUEY III | VP, NATIONAL GUARD MARKET Highest-paid employee | 40 | $249,648 | $0 | $31,863 |
| R FUENTES | VP, MKTG & COMMS Officer | 20 | $0 | $241,060 | $31,184 |
| E JENKINS | ASSOCIATION SECRETARY Officer | 40 | $0 | $238,622 | $32,254 |
| T TRAN | CONTROLLER Highest-paid employee | 40 | $220,871 | $0 | $29,949 |
| D Almaraz | VP, DISTRI SUPPORT SVCS Highest-paid employee | 40 | $214,985 | $0 | $29,771 |
| R LAMBERT | DIR OF STATISTICS & ANALYSIS Highest-paid employee | 40 | $215,328 | $0 | $27,571 |
| A GORDON-MONROE | TREASURER & CUSTOMER ADVO Highest-paid employee | 40 | $197,429 | $0 | $30,439 |
| GEN C MCKINLEY USAF RET | CHAIRMAN Trustee or director | 2 | $67,600 | $0 | $0 |
8 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| VADM P TRACEY USN RET | DIRECTOR Trustee or director | 2 | $56,160 |
| BG A SOLOMON USAF RET | DIRECTOR Trustee or director | 2 | $56,160 |
| CMSAF J ROY USAF RET | DIRECTOR Trustee or director | 2 | $56,160 |
| SMA K PRESTON USA RET | DIRECTOR Trustee or director | 2 | $56,160 |
| SMMC A MCMICHAEL USMC RET | DIRECTOR Trustee or director | 2 | $50,232 |
| MR LARRY LYNCH | DIRECTOR Trustee or director | 2 | $50,232 |
| PC C LANIER DCMPD RET | DIRECTOR Trustee or director | 2 | $50,232 |
| MAJ GEN A L COLLINS USA RET | DIRECTOR (AS OF 02/24) Trustee or director | 2 | $37,674 |
990 for the year ended December 31, 2023: 24 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| GEN L SPENCER USAF RET | PRESIDENT Trustee or director, Officer | 27 | $1,281,995 | $0 | $64,141 |
| D FRENCH | CFO Officer | 40 | $550,074 | $0 | $35,524 |
| M MOSER | SVP, GENERAL COUNSEL Officer | 20 | $0 | $463,323 | $72,869 |
| M WONG | SVP, CDO Officer | 28 | $0 | $423,724 | $34,543 |
| B ABEBE | CIO Officer | 40 | $289,331 | $0 | $81,703 |
| A HOOVER | SVP, HUMAN RESOURCES Officer | 40 | $295,993 | $0 | $57,094 |
| C KLEIN | CAE Officer | 40 | $273,401 | $0 | $32,211 |
| J PAULIN | SVP, OPERATIONS Officer | 40 | $261,533 | $0 | $30,496 |
| T SHUEY III | VP, NATIONAL GUARD MARKET Highest-paid employee | 40 | $244,098 | $0 | $47,579 |
| R FUENTES | VP, MKTG & COMMS (AS OF 06/23) Officer | 20 | $0 | $232,609 | $50,514 |
| M SMITH | CORP SECRETARY Officer | 40 | $222,550 | $0 | $27,828 |
| T TRAN | CONTROLLER Highest-paid employee | 40 | $213,912 | $0 | $28,552 |
| D Almaraz | VP, DISTRI SUPPORT SVCS Highest-paid employee | 40 | $210,438 | $0 | $29,329 |
| R LAMBERT | DIR OF STATISTICS & ANALYSIS Highest-paid employee | 40 | $206,834 | $0 | $26,842 |
| A GORDON-MONROE | TREASURER & CUSTOMER ADVO Highest-paid employee | 40 | $194,916 | $0 | $27,746 |
| GEN C MCKINLEY USAF RET | CHAIRMAN (AS OF 01/23) Trustee or director, Officer | 2 | $65,000 | $0 | $0 |
| SMA K PRESTON USA RET | DIRECTOR Trustee or director | 2 | $54,000 | $0 | $0 |
| CMSAF J ROY USAF RET | DIRECTOR Trustee or director | 2 | $54,000 | $0 | $0 |
| BG A SOLOMON USAF RET | DIRECTOR Trustee or director | 2 | $54,000 | $0 | $0 |
| VADM P TRACEY USN RET | DIRECTOR Trustee or director | 2 | $54,000 | $0 | $0 |
| FC J BUTLER FCFD | DIRECTOR Trustee or director | 2 | $48,300 | $0 | $0 |
| PC C LANIER DCMPD RET | DIRECTOR Trustee or director | 2 | $48,300 | $0 | $0 |
| MR LARRY LYNCH | DIRECTOR Trustee or director | 2 | $48,300 | $0 | $0 |
| SMMC A MCMICHAEL USMC RET | DIRECTOR Trustee or director | 2 | $48,300 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 909 N WASHINGTON ST, ALEXANDRIA, VA 22314-5510
- In care of
- % JOSEPH P STANGL
- Principal officer (990 for 2024)
- LARRY O SPENCER CEO, 909 N WASHINGTON ST, ALEXANDRIA, VA 22314
- Signed the 990
- GENERAL L SPENCER USAF RET, PRESIDENT
- Phone
- (703) 549-4455
- Website
- WWW.AFBA.COM
- Return prepared by
- PwC US Tax LLP
Mission
PROMOTE THE WELFARE OF MEMBERS OF THE U.S. UNIFORMED SERVICES, FEDERAL GOVERNMENT EMPLOYEES, FIRST RESPONDER EMERGENCY PERSONNEL AND THEIR FAMILIES BY PROVIDING LOW COST LIFE INSURANCE, AND OTHER BENEFITS.
Program accomplishments
- PROVIDED BETTER ALTERNATIVE TERM LIFE INSURANCE COVERAGE TO A POPULATION OF 350,820 MEMBERS AND SPOUSES. INSURANCE IN FORCE OF $22.9 BILLION, UNDERWRITTEN BY RELATED ORGANIZATIONS AND OTHER THIRD PARTY LIFE INSURANCE COMPANIES, IN SUPPORT OF AFBA'S OBJECTIVE TO PROMOTE THE WELFARE OF ITS MEMBERS AND THEIR FAMILIES. PAID OUT 790 DEATH CLAIMS TOTALING $31,959,668 IN 2024.Expenses $48,659,408 · revenue $48,576,868
- PROVIDED GROUP DECREASING TERM LIFE INSURANCE COVERAGE TO A POPULATION OF 45,084 MEMBERS AND SPOUSES. INSURANCE IN FORCE OF $.5 BILLION, UNDERWRITTEN BY RELATED ORGANIZATIONS AND OTHER THIRD PARTY LIFE INSURANCE COMPANIES, IN SUPPORT OF AFBA'S OBJECTIVE TO PROMOTE THE WELFARE OF ITS MEMBERS AND THEIR FAMILIES. PAID OUT 2,008 DEATH CLAIMS TOTALING $8,815,550 IN 2024.Expenses $11,303,567 · revenue $8,918,903
- PROVIDED LEVEL TERM LIFE INSURANCE COVERAGE TO A POPULATION OF 335,574 MEMBERS AND SPOUSES. INSURANCE IN FORCE OF $29.1 BILLION, UNDERWRITTEN BY RELATED ORGANIZATIONS AND OTHER THIRD PARTY LIFE INSURANCE COMPANIES, IN SUPPORT OF AFBA'S OBJECTIVE TO PROMOTE THE WELFARE OF ITS MEMBERS AND THEIR FAMILIES. PAID OUT 734 DEATH CLAIMS TOTALING $40,518,500 IN 2024.Expenses $83,076,507 · revenue $94,549,908
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 53-0209087
- Tax-exempt status
- 501(c)(9): Voluntary employees' beneficiary association
- Donations deductible
- No
- Exempt since
- 1948
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $195,351,756
- Income (IRS master file)
- $246,915,356
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $162,908,056 | $147,057,886 | $195,351,756 | XML |
| 990 | December 2023 | $156,212,942 | $147,965,849 | $183,355,173 | XML |
| 990 | December 2022 | $134,666,831 | $155,746,044 | $181,302,582 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 53-0209087).
Questions about ARMED FORCES BENEFIT ASSOCIATION
- What is the EIN of ARMED FORCES BENEFIT ASSOCIATION?
- The employer identification number (EIN) of ARMED FORCES BENEFIT ASSOCIATION is 53-0209087.
- Is ARMED FORCES BENEFIT ASSOCIATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(9) since 1948.
- Are donations to ARMED FORCES BENEFIT ASSOCIATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does ARMED FORCES BENEFIT ASSOCIATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ARMED FORCES BENEFIT ASSOCIATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ARMED FORCES BENEFIT ASSOCIATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of ARMED FORCES BENEFIT ASSOCIATION?
- The 990 for the year ended December 31, 2024 names LARRY O SPENCER CEO.
- Who are the officers and directors of ARMED FORCES BENEFIT ASSOCIATION?
- The 990 for the year ended December 31, 2024 lists 23 people; 20 received compensation from the organization, the highest $1,357,104 (GEN L SPENCER USAF RET, PRESIDENT).
- How much revenue does ARMED FORCES BENEFIT ASSOCIATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $162,908,056, expenses of $147,057,886 and total assets of $195,351,756 at year end.
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