Armed Forces Benefit Association

Nonprofit profile at a glance

EIN
530209087
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Alexandria, VA, USA
Phone
7035494455
Rating confidence
Limited

Official website

Reported finances

Revenue
$162,908,056
Expenses
$147,057,886
Assets
$195,351,756
Liabilities
$82,178,700

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

23 people listed

Executive titles in this filing

  • GEN L SPENCER USAF RET (PRESIDENT)

Highest reported compensation

  • GEN L SPENCER USAF RET (PRESIDENT): $1,379,650 total reported compensation
  • D FRENCH (CFO): $614,159 total reported compensation
  • M MOSER (SVP, GENERAL COUNSEL): $562,450 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

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.

What it reported doing in 2024

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.

Operating model

Revenue model
Other-operating. 98% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 83
  • Accountability: 90
  • Sustainability: 57
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 90%; rating input score 90; 38th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.7%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 1.33; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 3.5%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.9% per year; rating input score 100; 32nd percentile among comparable filings
  • Asset growth: -1.6% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 10 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $147.1M in reported program spending
  • Leadership: top reported pay $1.4M · 23 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.6M reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules · includes executive pay and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 20 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.