(This article originally appeared in the September 2026 issue of Military Officer magazine. A full statement of the association’s financial position is available in the online version of the publication.)

It is my honor to serve as the new executive vice president and chief financial officer of MOAA. As CFO, my focus is supporting one of the association’s top priorities: ensuring MOAA’s long-term financial stability. The following summary provides an overview of MOAA’s financial position and operating results for the year ending Dec. 31, 2025.

Financial Position

As of Dec. 31, MOAA (including The MOAA Foundation) remained in a solid financial position, supported by a disciplined approach to stewardship and a diversified revenue base. MOAA’s total assets were approximately $171.9 million, compared with $167 million at the end of 2024, reflecting modest growth of 2.9% driven largely by investment performance and operating results. Our asset base continues to be primarily composed of long-term investments.

Investments totaled approximately $151.1 million, and the portfolio generated a return of approximately 12.6% in 2025. While market conditions varied throughout the year, MOAA’s diversified investment strategy provided stability and remained a key contributor to overall financial strength.

Cash and receivables totaled $6.2 million, ensuring sufficient liquidity to meet operational needs and strategic priorities.

MOAA’s total liabilities were approximately $54.9 million at year-end, compared with $57.9 million in 2024. MOAA’s largest liability continues to be deferred income, reflecting membership dues collected in advance and recognized over time. This structure provides predictable future revenue and underscores the long-term commitment of our members.

Net assets totaled approximately $117 million, up 7.2%. This strong net asset position reflects how much MOAA’s assets exceed its liabilities and its ability to meet its obligations to its members and partners.

Financial Operations

In 2025, MOAA generated total revenues of approximately $36.1 million, compared with $31.7 million in 2024. Our four primary revenue sources remained membership dues, investment income, advertising income, and royalties and other income.

At $9.2 million, membership dues remain an important part of MOAA’s revenue base. In 2025, dues revenue decreased slightly by 1.2%, reflecting ongoing trends in membership composition and retention. Efforts remain focused on growing new members and identifying new revenue opportunities.

Investment income of $18.9 million again played an important role in overall revenue and provided just over half of MOAA’s income. This remains the association’s most significant source of revenue and one MOAA must monitor so it remains sustainable well into the future.

Total expenses for 2025 were approximately $28.2 million, compared to $25.8 million in 2024. Expenses spanned multiple categories that reflect MOAA’s advocacy, member engagement, and commitment to the uniformed services.

The association closed the year with a net surplus of approximately $7.8 million.

Looking Ahead

MOAA remains well-positioned financially. Our strong balance sheet, disciplined expense management, and continued member support provide a solid foundation for the future. On behalf of the entire MOAA leadership team, thank you for your continued support and trust. It is a privilege to serve you.