Cooperativa De Ahorro Y Credito De Vega Alta
- Assets
- $356.0m
- Revenue
- $21.7m
- Investments
- $10.2m
- Employees
- 90
- Location
- Founding
- Data as of
- 12/2021
- EIN
- 66-0214784
Organization Overview
Cooperativa De Ahorro Y Credito De Vega Alta is located in null. As of 12/2021, Cooperativa DE Ahorro Y Credito DE Vega Alta employed 90 individuals. Cooperativa DE Ahorro Y Credito DE Vega Alta is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2021, Cooperativa DE Ahorro Y Credito DE Vega Alta generated $21.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $18.9m during the year ending 12/2021. While expenses have increased by 1.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
A NON PROFIT ORGANIZATION THAT IS PRIMARILY DEDICATED TO RECEIVE SAVINGS FROM ITS MEMBERS IN THE FORM OF SHARES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INTEREST INCOME AND OTHER INCOME OF $21,743,565 AND TOTAL EXPENSES OF $18,855,071 .
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ruben Morales President | 40 | $323,492 | |
Victor Torres Vice President Information Systems | Officer | 40 | $138,309 |
Nancy Colon Vice President Administration | Officer | 40 | $119,515 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Slcnlaw Psc Legal Services | 12/30/21 | $238,726 |
Oracle Caribbean Inc Supoert Data Base | 12/30/21 | $164,503 |
Here & Now Film Promotion Program | 12/30/21 | $165,000 |
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 | $9,112,315 |
| 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 | $21,743,565 |
| 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. | $581,316 |
| Compensation of current officers, directors, key employees. | $581,316 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,353,685 |
| Pension plan accruals and contributions | $201,719 |
| Other employee benefits | $0 |
| Payroll taxes | $275,805 |
| 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 | $374,132 |
| Advertising and promotion | $378,646 |
| Office expenses | $118,871 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $73,581 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $171,323 |
| Interest | $961,424 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $411,524 |
| Insurance | $1,649,101 |
| All other expenses | $9,858,249 |
| Total functional expenses | $18,855,071 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $157,137,637 |
| Savings and temporary cash investments | $47,425,037 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $209,843 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $123,481,138 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $8,010,504 |
| Investments—publicly traded securities | $6,908,404 |
| Investments—other securities | $10,223,231 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,581,332 |
| Total assets | $355,977,126 |
| Accounts payable and accrued expenses | $2,493,048 |
| 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 | $274,101,061 |
| Total liabilities | $276,594,109 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $56,672,401 |
| Paid-in or capital surplus, or land, building, or equipment fund | $22,080,072 |
| Retained earnings, endowment, accumulated income, or other funds | $630,544 |
| Total liabilities and net assets/fund balances | $355,977,126 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Global Alliance For Improved Nutrition | $44,416,966 | $54,421,348 |
Ontario Educational Communications Authority | $67,292,607 | $50,739,762 |
Amigour Asset Management Ltd | $32,967,956 | $48,566,564 |
Center For International Forestry Research | $34,476,961 | $45,346,432 |
Veba Inc Veba Tr | $1,816,913 | $41,959,741 |
Sir Mortimer B Davis Jewish General Hospital | $508,935,050 | $43,702,941 |
Victoria University | $655,176,000 | $66,175,309 |
United Israel Appeal Of Canada Inc | $41,748,744 | $42,397,130 |
United Bible Societies Association Inc | $115,618,182 | $43,860,125 |
International Financial Reporting Standards Foundation | $67,984,215 | $40,055,296 |
Coif Charities Investment Fund | $5,003,702,124 | $82,088,708 |
International Center Of Insect Physiology And Ecology | $70,607,275 | $37,905,862 |