to NARFE programs

Enclosed is my NARFE Contribution: $ __________________

All donations go to the NARFE General Fund to support NARFE Programs and operations.

Name: Address: City: State: ZIP:

Credit Card Information: q M/C q VISA q Discover q AMEX

Card Number:

Expiration Date: (mm)/ (yy) Security Code:

Signature:

Name: (please print)

Support Alzheimer’s Research

Date: / /

NARFE members contributed for Alzheimer’s research: $16 Million Fund $15,741,859.72*

If you have any questions, write to: National Committee Chair

Olivia Williams

PO Box 2175 Columbia, SC 29202

OR E MAIL: oeashf3@gmail.com

MAKE CHECK PAYABLE TO:

NARFE-Alzheimer’s Research (w rite your chapter number on memo line)

PLEASE MAIL COUPON AND CHECK TO: Alzheimer’s A ssociation

225 N. Michigan Ave., 17th Floor Chicago, I L 60 601-7633

Your charitable contribution is tax-deductible to the fullest extent allowed by law.

Give to the NARFE-FEEA Fund

MAKE CHECK PAYABLE TO:

NARFE-FEEA Fund

PLEASE MAIL COUPON AND CHECK TO:

FEEA

1641 Prince St. Alexandria, VA 22314

Your charitable contribution is tax-deductible to the fullest extent allowed by law.

Enclosed is my NARFE-Alzheimer’s contribution: $

Every cent that is contributed is used for research.

Name:

Address: City: State: ZIP:

Chapter number:

Credit Card Information: q M/C q VISA q Discover q AMEX

Card Number:

Expiration Date: (mm)/ (yy) Security Code:

Signature: Date: / /

Name: (please print)

The NARFE-FEEA Fund supports NARFE members during disasters; provides scholarships to their children, grandchildren and great-grandchildren; and funds other programs to support NARFE members at the direction of NARFE and FEEA.

Enclosed is my NARFE-FEEA Fund Contribution: $ ________

Name: Address: City: State: ZIP: Email:

To make credit card or e-check contributions, visit www.feea.org/givenarfe.

Active and Retired Federal Employees ... Join NARFE Today!

The only organization dedicated solely to protecting and preserving the benefits of all federal workers and retirees, NARFE informs you of any developments and proposals that affect your compensation, retirement and health benefits, AND provides clear answers to your questions.

Who Should Join NARFE?

If your future security is tied to federal retirement benefits—federal retirees, current employees, spouses and individual survivors—you should join NARFE.

NARFE MEMBERSHIP APPLICATION q YES. I want to join NARFE for the low annual dues of $48. q

I am a (check all that apply) q Active Federal Employee q Active Federal Employee Spouse q Annuitant q Annuitant Spouse q Survivor Annuitant q Please enroll my spouse

Spouse’s Full Name

Spouse’s Email

THREE EASY WAYS TO JOIN

1. Complete this application and mail with your payment to NARFE Member Services / 606 N Washington St / Alexandria, VA 22314-1914.

2. Join online at www.NARFE.org

3. Call 800-456-8410, Monday through Friday, 8 a.m. to 5 p.m. ET.

Narfe Member Benefits

• Access the NARFE Federal Benefits Institute for powerful resources to help you fully understand and manage your benefits.

• Access to FEDHub, NARFE’s online community, where members share ideas, information and solutions—it’s the go-to place where active and retired Feds connect

• Visit the Legislative Action Center to contact your representatives about bills affecting federal benefits.

• Get NARFE Magazine and our weekly e-newsletter, NewsLine—your best sources for the latest news and information on issues impacting federal employees and retirees.

• NARFE Perks discounts on insurance, travel, health services and more!

• Nearly 800 local chapters unite federal employees, retirees, their spouses and survivors, and provide networking, advocacy and leadership opportunities.

PAYMENT OPTIONS q Check, Money Order or Bill Pay (Payable to NARFE) q Bill me (NARFE membership will start when payment is received.) q Charge my:

LOOKING TO MEET OTHERS in the federal community and participate in NARFE at a local level? Call 800-456-8410 to learn about a NARFE chapter in your area.

Would you like to receive a FREE one-year chapter membership? Choose one: q Chapter closest to home OR q Chapter #____________

THANK YOUR RECRUITER Did someone introduce you to NARFE? Please provide their Name and Member ID.

Name

NARFE respects the privacy of our members. Personal information is used to provide content and relevant communications to our members. Some NARFE member benefits are provided by third parties (NARFE Perks), and not NARFE.

Consolidated Financial Statements for the Year Ended December 31, 2022

REPORT OF THE NATIONAL SECRETARY/TREASURER

The consolidated financial statements were prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (GAAP). Revenue is recognized when earned and expenses recognized when incurred. The statements represent both the operating funds of national NARFE and NARFE-PAC. Investments consist of mutual funds, corporate bonds and exchange-traded funds and are recorded at their fair value. Further definitions and explanations will be found in Notes to Consolidated Financial Statements in the following pages.

The FY 2022 Total Revenues were $7,501,164 with $9,185,545 in Expenses resulting in a decline of $1,684,381 in Net Assets. While the Net Assets are lower, the cash flow stayed positive. Note that $802,191 of revenue in NARFE-PAC was donor restricted. Inflation rose to 6.5% in 2022. For NARFE, 2022 was also a year of transition, with senior people departing and earnings from sponsored meetings lower or nonexistent. The team did a good job managing our overall finances.

We know the national economy did not perform well from daily reports of the inflation rates. While we are not pleased about the decline of our net assets in 2022, we are optimistic about how we will be able to hold the line on the management of our assets in 2023. It is reassuring to know that we have a large asset in the building in Alexandria, but it is aging like many of us. The next few years are going to challenge our management philosophy, and decisions will need to be made regarding how to stem the decrease in membership.

—Kathryn E. Hensley

Report Of The National Executive Board Audit Committee

On April 11, 2023, the association’s external auditors, Marcum LLP, met virtually with the NEB Audit Committee, Chair Region VI Marshall L. Richards, Committee Members Region VIII Vice President Robert Ruskamp and Region II Vice President Larry Walton, and staff members, Johann De Castro, SVP Finance and Administration/Interim Chief of Staff, and Veronica Clemons, Director of Finance. The purpose of the meeting was to review and discuss the annual financial audit for the year ended December 31, 2022.

The auditors presented a comprehensive and detailed review of NARFE’s Consolidated Financial Statements. They reported finding no material weaknesses in internal controls, which are the policies and procedures that ensure the reliability and accuracy of financial reporting. They provided an unqualified opinion, indicating that the association’s financial statements are free of material misstatements and conform to generally accepted accounting principles. This means that the association has received “a clean audit.”

Total assets declined $1,494,689 from 2021 to the end of 2022 to $13,336,728, mainly from the investment losses ($1,618,159) during 2022. NARFE’s National Executive Board (NEB) measures the performance of the operations without the performance of the investments; therefore, the combination of the investment losses, with high inflation, and donor restrictions were accountable for the total decline.

Pursuant to the Audit Committee’s recommendation, the NEB voted unanimously on May 19, 2023, to accept the 2022 Audited Financial Statements. The committee commends NARFE senior management and staff for their contributions to ensuring a “clean audit” for another year.

—Marshall L. Richards, Chair