American Armed Forces Mutual Aid Association

“The organization's membership is limited to: (i) all active duty, guard, reserve or retired or honorably discharged members of the united states armed forces; (ii) attendees at armed forces service academies; (iii) reserve officers' training corps (rotc) cadets under contract; or (iv) as further restricted by the board of directors from time-to-time for any or all states, districts, or possessions. Membership eligibility requirements may vary among jurisdictions.”

“The aafmaa constitution specifies that the members of the board of directors are elected from and by the members of the association at the annual meeting, each of whom are elected for four-year terms (with roughly one-fourth of the directors being elected each year). Between annual meetings, the aafmaa constitution specifies that any vacancy may be filled by a majority vote of the board. Any person so appointed by the board would only serve until the next annual meeting, unless he or she is elected by the members at that meeting. In practice, suggestions for members of the board can come from any member. They are considered by a nominating committee, consisting of members, who would then nominate persons to be voted upon by the entire membership at the annual meeting (or by proxy).”

“The aafmaa constitution may only be altered or amended by a two-thirds vote of the members present or properly represented by proxy or ballot or other means generally available to the members at any meeting of the members of the association, except for an amendment which only changes the domicile or name of the association.”

“The aafmaa controller, treasurer, vp human resources, and the president review the form 990 before it is filed.”

“Aafmaa maintains a conflict of interest standard and policy for directors, consistent with the virginia nonstock corporation act. To retain their liability protection and indemnification, directors may not participate in a "conflict of interest transaction" as a "non-disinterested director". Any director who becomes non-disinterested must advise the other directors that he or she is non-disinterested with respect to the applicable matter and recuse himself or herself from voting in any board or committee meeting on any action regarding aafmaa and the applicable matter. This policy is provided to directors at every december board meeting through a memorandum from aafmaa's general counsel. Within the memorandum the general counsel provides specific guidance on the policy so that directors can rely on it as legal advice.”

“Aafmaa retained an independent compensation consultant to review the compensation of the president and treasurer and compare it to compensation survey data from parallel positions in other similar size associations. The president and treasurer's salary follows a method established specifically for this position. The president's salary is based on an external, independent assessment of comparable positions in similar size organizations. It is reviewed and approved annually by the board chair. For all other employees, the process includes annual, written reviews and pay increases depending upon performance appraisals. Pay increases are within ranges initially established by external compensation consultants. Ranges are updated annually for inflation but not annually for comparability. Ratings are completed contemporaneously and filed in individual personnel records. This process applies to all, not just officers or key employees.”

“The association's organizing documents are provided to members only. The association's annual report (including audited financial information) is made available on its website.”

“Change in reserve 51,530,956.”