Cooperativa Ahorro Y Credito Abraham Rosa
- Assets
- $116.9m
- Revenue
- $3.9m
- Investments
- $2.9m
- Employees
- 37
- Location
- Toa Baja, PR
- Founding
- Data as of
- 12/2021
- EIN
- 66-0313974
Organization Overview
Cooperativa Ahorro Y Credito Abraham Rosa is located in Toa Baja, PR. As of 12/2021, Cooperativa Ahorro Y Credito Abraham Rosa employed 37 individuals. Cooperativa Ahorro Y Credito Abraham Rosa 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 Ahorro Y Credito Abraham Rosa generated $3.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $4.7m during the year ending 12/2021. 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
IT IS A NON PROFIT ORGANIZATION PRIMARILY ENGAGED TO RECEIVE SAVINGS FROM ITS MEMBERS IN THE FORM OF SHARES AND DEPOSITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HAD INTEREST INCOME AND OTHER INCOME FROM ITS OPERATIONS OF $3,859,671 AND IT HAD TOTAL EXPENSES OF $4,676,093.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luis R Lopez Roman President | 50 | $114,060 | |
Luis A Rivera Negron Vice President Of Credit | Officer | 50 | $66,985 |
Wanda E Reyes Lara Controller | Officer | 50 | $57,546 |
Carmen B Serrano Rodriguez Vice President Of Operations | Officer | 50 | $57,281 |
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 | $3,426,811 |
| 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 | $3,859,671 |
| 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. | $295,872 |
| Compensation of current officers, directors, key employees. | $295,872 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $958,187 |
| Pension plan accruals and contributions | $220,780 |
| Other employee benefits | $0 |
| Payroll taxes | $126,199 |
| 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 | $199,985 |
| Advertising and promotion | $79,968 |
| Office expenses | $62,043 |
| Information technology | $122,473 |
| 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 | $1,521 |
| Interest | $222,105 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $256,510 |
| Insurance | $643,802 |
| All other expenses | $1,010,595 |
| Total functional expenses | $4,676,093 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,084,281 |
| Savings and temporary cash investments | $1,900,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $588,931 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $64,409,150 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,225,087 |
| Investments—publicly traded securities | $22,011,603 |
| Investments—other securities | $2,900,403 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,822,787 |
| Total assets | $116,942,242 |
| Accounts payable and accrued expenses | $2,181,830 |
| 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 | $103,249,892 |
| Total liabilities | $105,431,722 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $14,887,238 |
| Paid-in or capital surplus, or land, building, or equipment fund | -$3,376,718 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $116,942,242 |