Armed Forces Benefit Association
501(c)(9)
Strong reserves
Armed Forces Benefit Association is a 501(c)(9) organization based in Alexandria, Virginia, registered in 1948, with $162,908,056 in FY2024 revenue.
909 N Washington St, Alexandria, VA, 22314 EIN 53-0209087 Since 1948
Revenue (FY2024)
$162.9M
▲ 4.3% vs prior year
Expenses (FY2024)
$147.1M
Net assets
$113.2M
Employees
148
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
★★★★
Rated on 3 of 4 criteria — the rest aren't reported in this filing type.
Capped at A — the top grade requires the fuller disclosure of a complete Form 990.
How the rating works →—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Armed Forces Benefit Association— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating9 mo reserves · +10% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Armed Forces Benefit Association: 9 mo reserves · +10% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Armed Forces Benefit Association: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Armed Forces Benefit Association: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
See part iii, line 1
What they do
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.
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.
Contact & location
- Address
- 909 N Washington St, Alexandria, VA, 22314
- City
- Alexandria
- State
- Virginia
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $102.5M (FY2013) to $162.9M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $82.2MNet assets $113.2M
Operating margin
9.7%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$195.4M
Total liabilities
$82.2M
Net assets
$113.2M
Salaries & benefits
$19.2M
13% of expenses
Board members
10
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $162,908,056▲4.3% | $147,057,886▼0.6% | $113,173,056▲23.0% | $195,351,756▲6.5% | 990 |
| 2023 | $156,212,942▲16.0% | $147,965,849▼5.0% | $92,036,474▲32.6% | $183,355,173▲1.1% | 990 |
| 2022 | $134,666,831▼14.7% | $155,746,044▼12.0% | $69,411,732▼3.2% | $181,302,582▼14.7% | 990 |
| 2021 | $157,888,211▲2.1% | $177,056,271▲15.8% | $71,691,899▼14.0% | $212,566,568▼5.3% | 990 |
| 2020 | $154,702,786▲4.5% | $152,872,624▲8.0% | $83,364,016▼6.5% | $224,379,089▲4.0% | 990 |
| 2019 | $147,971,648▲12.8% | $141,521,880▼3.7% | $89,206,585▼3.0% | $215,707,690▲2.7% | 990 |
| 2018 | $131,162,407▲8.7% | $146,954,585▲12.5% | $91,994,981▼17.2% | $209,940,311▼7.2% | 990 |
| 2017 | $120,688,682▲9.9% | $130,611,624▲5.2% | $111,121,470▼7.8% | $226,108,476▼0.9% | 990 |
| 2016 | $109,834,776▲2.6% | $124,167,210▲0.7% | $120,581,405▼10.0% | $228,166,337▼3.9% | 990 |
| 2015 | $107,096,189▲1.1% | $123,256,695▲9.5% | $133,955,018▲2.1% | $237,406,109▲6.7% | 990 |
| 2014 | $105,914,006▲3.3% | $112,536,910▲3.4% | $131,146,239▼13.7% | $222,537,849▲2.5% | 990 |
| 2013 | $102,549,936 | $108,826,165▼2.0% | $151,979,673▲10.8% | $217,069,428▲3.5% | 990 |
| 2012 | — | $111,101,633▲3.0% | $137,155,338▼24.3% | $209,740,530▼15.3% | 990 |
| 2011 | — | $107,838,749▲2.8% | $181,225,686▼4.5% | $247,668,330▲3.3% | 990 |
| 2010 | — | $104,881,220 | $189,845,209 | $239,662,859 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Gen L Spencer Usaf Ret — $1,357,104 (0.92% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Gen L Spencer Usaf Ret | President | 27 | $1,357,104 |
| D French | Cfo | 40 | $573,987 |
| A Hoover | Svp, Human Resources | 40 | $305,738 |
| B Abebe | Cio | 40 | $300,774 |
| C Klein | Cae | 40 | $282,966 |
| J Paulin | Svp, Operations | 40 | $270,579 |
| T Shuey III | Vp, National Guard Market | 40 | $249,648 |
| T Tran | Controller | 40 | $220,871 |
| R Lambert | Dir of Statistics & Analysis | 40 | $215,328 |
| D Almaraz | Vp, Distri Support Svcs | 40 | $214,985 |
| A Gordon-monroe | Treasurer & Customer Advo | 40 | $197,429 |
| Gen C Mckinley Usaf Ret | Chairman | 2 | $67,600 |
| Bg A Solomon Usaf Ret | Director | 2 | $56,160 |
| Cmsaf J Roy Usaf Ret | Director | 2 | $56,160 |
| Sma K Preston USA Ret | Director | 2 | $56,160 |
| Vadm P Tracey Usn Ret | Director | 2 | $56,160 |
| Mr Larry Lynch | Director | 2 | $50,232 |
| PC C Lanier Dcmpd Ret | Director | 2 | $50,232 |
| Smmc A Mcmichael Usmc Ret | Director | 2 | $50,232 |
| Maj Gen A L Collins USA Ret | Director (as of 02/24) | 2 | $37,674 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Manning Napier | Inv Mgmt Services | $585,930 |
| Mrs Insurtech LLC | Med Info Services | $332,777 |
| Tenpearls LLC | It Consulting Svcs. | $308,181 |
| Roth Staffing Companies | Temporary Help Svcs. | $199,934 |
| Datavail Corporation | It Consulting Svcs. | $178,286 |
Frequently asked questions
- Is Armed Forces Benefit Association a legitimate nonprofit?
- Yes. Armed Forces Benefit Association is a 501(c)(9) organization registered with the U.S. Internal Revenue Service under EIN 53-0209087, based in Alexandria, Virginia.
- What is Armed Forces Benefit Association's EIN?
- Armed Forces Benefit Association's Employer Identification Number (EIN) is 53-0209087.
- How much revenue does Armed Forces Benefit Association report?
- Armed Forces Benefit Association reported $162,908,056 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does Armed Forces Benefit Association's highest-paid employee make?
- The highest reported compensation on Armed Forces Benefit Association's latest Form 990 is $1,357,104, paid to Gen L Spencer Usaf Ret (President).
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Data for Armed Forces Benefit Association (EIN 53-0209087) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.