Overview
What is Armed Services Mutual Benefit Association?
The Armed Services Mutual Benefit Association, located in Goodlettsville, Tennessee, is a nonprofit organization dedicated to providing financial security and essential benefits to its members, mainly those serving in the armed forces. Recognizing the unique risks associated with their occupation, the association offers life insurance and survivor benefit coverages that are often challenging to obtain or are expensive due to limiting clauses. With just over five employees, the Armed Services Mutual Benefit Association continues to provide these beneficial programs at reasonable rates, ensuring financial stability for its members.
Official website here: www.asmba.com
Is Armed Services Mutual Benefit Association legitimate?
Armed Services Mutual Benefit Association is a legitimate nonprofit organization registered as a 501(c)(19) entity. Armed Services Mutual Benefit Association submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $619,136
Professional Fundraising Fees: $0
Other Salaries and Wages: $67,721
For more financial information, click here
Official website here: www.asmba.com
What is the mission statement of Armed Services Mutual Benefit Association?
The Armed Services Mutual Benefit Association's mission is to offer affordable life insurance and survivor benefit coverage to its members, who are primarily associated with the armed services. Recognizing the unique risks and limitations in obtaining such coverage due to their occupation, the association aims to provide these benefits at reasonable rates, without any limiting clauses such as war. This organization strives to ensure financial security for its members by offering a variety of low-cost benefit programs, thus providing a crucial service that is not easily accessible elsewhere.
Official website here: www.asmba.com
Who is the CEO of Armed Services Mutual Benefit Association?
Brice N Smith is the President of Armed Services Mutual Benefit Association.
Official website here: www.asmba.com
What is the revenue of Armed Services Mutual Benefit Association?
Armed Services Mutual Benefit Association's revenue in 2023 was $7,537,390.
Official website here: www.asmba.com
Who are the executives of Armed Services Mutual Benefit Association and what are their salaries?
The average compensation at Armed Services Mutual Benefit Association during 2023 was $137,371. There are 5 employees and 16 volunteers at Armed Services Mutual Benefit Association.
Here are 9 key members and their salaries:
- Compensation: $295,612
- Related: $0
- Other: $58,360
- Compensation: $196,266
- Related: $0
- Other: $34,404
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.asmba.com
Where can I find the form 990 for Armed Services Mutual Benefit Association?
Armed Services Mutual Benefit Association's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.asmba.com
Learn more at the official website: www.asmba.com
Mission Statement of Armed Services Mutual Benefit Association
The Armed Services Mutual Benefit Association, in its mission, aims to provide members with a diverse range of low-cost benefit programs and financial security. This security is primarily in the form of life insurance and survivor benefit coverages. The organization understands that these benefits are not easily accessible or affordably priced for members of the armed services, due to the inherent risks associated with their occupation. Consequently, Armed Services Mutual Benefit Association offers these benefits at reasonable rates and without limiting clauses, such as war, which would typically exclude military personnel. This commitment to providing essential benefits at fair prices serves to enhance the financial security of its members, thereby offering them a sense of peace and stability.
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Impact
October, 2024
The Armed Services Mutual Benefit Association plays a crucial role in enhancing the financial security of armed services members and their families. By providing access to low-cost life insurance and survivor benefit coverage, the organization addresses a significant gap in availability and affordability of such benefits for military personnel. Members can secure essential financial protection without the common exclusions typically associated with high-risk occupations, such as war-related activities.
This approach not only ensures that service members have access to necessary coverage at reasonable rates but also fosters peace of mind for them and their families, knowing they are adequately protected against unforeseen circumstances. By offering diversified benefit programs, the association strengthens the overall welfare of its members, promoting resilience and stability within military communities. In a field where traditional insurance options may fall short, the Armed Services Mutual Benefit Association stands out as a vital resource, affirming its commitment to the well-being of those who serve.
This information is meant to be a general summary of Armed Services Mutual Benefit Association. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $1,533,713
- Program Service Revenue: $5,512,179
- Gross Receipts: $23,081,185
Assets and Liabilities:
- Total Assets: $56,245,710
- Total Liabilities: $33,602,129
- Net Assets: $22,643,581
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CHOICE LEVEL TERM
Revenue
$1,718,133
HIGH VALUE LEVEL TERM
Revenue
$2,653,736
LEVEL, DECREASING, SBP
Revenue
$184,475
PLATINUM AD&D
Revenue
$260,247
SPOUSE COVERAGE/FAMILY
Revenue
$431,901
Organization Details
Founding Year
1963
Phone
(615) 851-0800Principal Officer
Brice N Smith
Main Address
1000 NORTHCHASE DR 220, GOODLETTSVILLE, TN, 37072
Website
www.asmba.comNTEE Category
Code: W30 - Public benefit
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