Cooperativa De Ahorro Y Credito De Aibonitena
- Assets
- $150.3m
- Revenue
- $12.5m
- Investments
- $4.2m
- Employees
- 42
- Location
- Aibonito, PR
- Founding
- Data as of
- 12/2023
- EIN
- 66-0213182
Organization Overview
Cooperativa De Ahorro Y Credito De Aibonitena is located in Aibonito, PR. As of 12/2023, Cooperativa DE Ahorro Y Credito DE Aibonitena employed 42 individuals. Cooperativa DE Ahorro Y Credito DE Aibonitena is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
IT IS A NON PROFIT ORGANIZATION AND IS PRIMARILY DEDICATED TO RECEIVE SAVINGS FROM ITS MEMBERS IN THE FORM OF SHARES AND DEPOSITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INTEREST INCOME AND OTHER INCOME OF $12,455,933 AND TOTAL EXPENSES OF $9,375,557.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carlos F Ortiz Diaz President | 55 | $120,000 | |
Harol O Colon VP Of Operation | Officer | 55 | $59,238 |
Jessica Arroyo Alvarado Manager Of Credit | Officer | 55 | $50,003 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $7,728,556 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,455,933 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $229,241 |
| Compensation of current officers, directors, key employees. | $229,241 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,391,853 |
| Pension plan accruals and contributions | $74,589 |
| Other employee benefits | $0 |
| Payroll taxes | $146,627 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $140,599 |
| Advertising and promotion | $435,523 |
| Office expenses | $153,163 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $54,190 |
| Interest | $1,055,552 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $331,807 |
| Insurance | $614,035 |
| All other expenses | $3,289,317 |
| Total functional expenses | $9,375,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,209,030 |
| Savings and temporary cash investments | $6,650,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $280,291 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $99,416,839 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,772,196 |
| Investments—publicly traded securities | $17,369,779 |
| Investments—other securities | $4,173,069 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,462,457 |
| Total assets | $150,333,661 |
| Accounts payable and accrued expenses | $877,594 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $119,528,497 |
| Total liabilities | $120,406,091 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $20,869,080 |
| Paid-in or capital surplus, or land, building, or equipment fund | $8,608,490 |
| Retained earnings, endowment, accumulated income, or other funds | $450,000 |
| Total liabilities and net assets/fund balances | $150,333,661 |