Fondo De Inversion Y Desarrollo Cooperative Inc
- Assets
- $39.8m
- Revenue
- $3.0m
- Investments
- $31.2m
- Employees
- 8
- Location
- San Juan, PR
- Founding
- Data as of
- 12/2023
- EIN
- 66-0631697
Organization Overview
Fondo De Inversion Y Desarrollo Cooperative Inc is located in San Juan, PR. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Fondo DE Inversion Y Desarrollo Cooperative Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fondo DE Inversion Y Desarrollo Cooperative Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Fondo DE Inversion Y Desarrollo Cooperative Inc generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 39.7% each year . All expenses for the organization totaled $980.5k during the year ending 12/2023. While expenses have increased by 11.2% per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE SOCIAL ECONOMIC DEVELOPMENT IN PUERTO RICO THROUGH THE PARTICIPATION IN THE CREDIT UNION AND PUBLIC SECTOR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TOTAL INCOME IS $3,002,093 PROGRAM EXPENSES OF 747,927 PLUS GENERAL EXPENSES 232,547 TOTAL OF $980,474.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jose J Ramirez Ruiz Executive Director | Officer | 40 | $86,675 |
Normarie Caraballo Operation Director | Officer | 40 | $61,475 |
Oriel Ramirez Rodriguez Second President | Trustee | 1 | $0 |
Israel Velez Colon First Vice President | 1 | $0 | |
Glorimar Lamboy Torres Director | 1 | $0 | |
Candido Rivera Lopez Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $296,535 |
| 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 | $296,535 |
| Total Program Service Revenue | $0 |
| Investment income | $1,391,011 |
| 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 | $3,002,093 |
| 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. | $137,208 |
| Compensation of current officers, directors, key employees. | $33,046 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $230,431 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $84,316 |
| Payroll taxes | $40,088 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,566 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,000 |
| Fees for services: Other | $84,178 |
| Advertising and promotion | $13,930 |
| Office expenses | $102,432 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $83,940 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,442 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,692 |
| Insurance | $24,765 |
| All other expenses | $41,227 |
| Total functional expenses | $980,474 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,960,672 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $412,178 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,352,343 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,691 |
| Net Land, buildings, and equipment | $19,642 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $31,233,721 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $794,763 |
| Total assets | $39,779,010 |
| Accounts payable and accrued expenses | $49,865 |
| Grants payable | $0 |
| Deferred revenue | $51,193 |
| 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 | $0 |
| Total liabilities | $101,058 |
| Net assets without donor restrictions | $39,341,584 |
| Net assets with donor restrictions | $336,368 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $39,779,010 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Invest Puerto Rico Inc San Juan, PR | $9,043,861 | $16,374,498 |
Enterprize Events Inc San Juan, PR | $693,378 | $2,154,770 |
Bluetide Puerto Rico Inc San Juan, PR | $5,254,223 | $6,094,144 |
Fondo De Inversion Y Desarrollo Cooperative Inc San Juan, PR | $39,779,010 | $3,002,093 |
Conprmetidos San Juan, PR | $1,344,619 | $936,762 |
Vitrina Solidaria Inc San Juan, PR | $379,482 | $739,435 |
Protechos Inc San Juan, PR | $195,755 | $685,798 |
Endeavor Initiative Puerto Rico Inc San Juan, PR | $379,223 | $624,539 |
Asesores Financieros Comunitarios Inc San Juan, PR | $385,116 | $322,607 |
El Corredor Tecno Economico De Puerto Rico Y El Caribe Mayaguez, PR | $1,167,209 | $304,576 |
Industry University Research Center Inc San Juan, PR | $45,736 | $224,174 |
Puerto Rico 4-0 Mts Corporacion Bayamon, PR | $0 | $0 |