Cooperativa De Ahorro Y Credito De Mayaguez
- Assets
- $91.4m
- Revenue
- $4.5m
- Investments
- $3.6m
- Employees
- 38
- Location
- Mayaguez, PR
- Founding
- 00/0000
- Data as of
- 12/2022
- EIN
- 66-0324225
Organization Overview
Cooperativa De Ahorro Y Credito De Mayaguez is located in Mayaguez, PR. The organization was established in 0000. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Cooperativa DE Ahorro Y Credito DE Mayaguez employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cooperativa DE Ahorro Y Credito DE Mayaguez is a 501(c)(16) and as such, is described as a "Cooperative Organization to Finance Crop Operations" by the IRS.
For the year ending 12/2022, Cooperativa DE Ahorro Y Credito DE Mayaguez generated $4.5m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $4.2m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE QUALITY FINANCING AND SAVING SERVICES TO MEMBERS AND NONMEMBERS AS A COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REVENUES EARNED FROM LENDING AND SERVICES PROVIDED TO MEMBERS, ALSO FROM INVESTING ACTIVITIES. MEMBERS RECEIVE INTEREST PAYMENTS FOR THEIR DEPOSITS HELD IN THE STATE CREDIT UNION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mildred Perez Lebron Presidenta Ejecutiva | Officer | 40 | $62,231 |
Israel Valentin Treasurer | Trustee | 4 | $0 |
Olga M Dobles Bisbal Director | Trustee | 4 | $0 |
Enrique Matias President | Trustee | 4 | $0 |
Marta Irizarry Subtreasurer | Trustee | 4 | $0 |
Nancy Rodriguez Gonzalez Director | Trustee | 4 | $0 |
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 | $3,432,905 |
| 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 | $4,451,822 |
| 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. | $62,231 |
| Compensation of current officers, directors, key employees. | $62,231 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $829,716 |
| Pension plan accruals and contributions | $29,537 |
| Other employee benefits | $146,398 |
| Payroll taxes | $77,860 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $43,956 |
| Fees for services: Accounting | $13,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $79,813 |
| Advertising and promotion | $155,531 |
| Office expenses | $59,599 |
| Information technology | $28,423 |
| Royalties | $0 |
| Occupancy | $59,766 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,944 |
| Interest | $192,450 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $94,226 |
| Insurance | $309,689 |
| All other expenses | $382,216 |
| Total functional expenses | $4,221,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $633,108 |
| Savings and temporary cash investments | $15,771,770 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,568,745 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $37,860,887 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $313,625 |
| Net Land, buildings, and equipment | $860,618 |
| Investments—publicly traded securities | $24,330,357 |
| Investments—other securities | $3,624,984 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,445,879 |
| Total assets | $91,409,973 |
| Accounts payable and accrued expenses | $490,057 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $217,318 |
| 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 | $66,137,583 |
| Total liabilities | $66,844,958 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $19,979,135 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $4,585,880 |
| Total liabilities and net assets/fund balances | $91,409,973 |