Cooperativa De Ahorro Y Credito De Isabela
- Assets
- $359.5m
- Revenue
- $14.1m
- Investments
- $67.4m
- Employees
- 0
- Location
- Isabela, PR
- Founding
- 02/1986
- Data as of
- 12/2022
- EIN
- 66-0214491
Organization Overview
Cooperativa De Ahorro Y Credito De Isabela is located in Isabela, PR. The organization was established in 1986. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cooperativa DE Ahorro Y Credito DE Isabela 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 12/2022, Cooperativa DE Ahorro Y Credito DE Isabela generated $14.1m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $12.2m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 4 years. 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
OFFER LOANS TO CREDIT UNION MEMBERS. ANY NET INCOME AND SURPLUS PROVIDED FORM OPERATIONS IS DISTRIBUTED AMONG MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OFFER SAVINGS AND CREDIT PRODUCTS FOR THE CREDIT UNION MEMBERS
OFFER SAVINGS ACCOUNTS AND LOANS TO CREDIT UNION MEMBERS
OFFER SAVINGS ACCOUNTS AND LOANS TO CREDIT UNION MEMBERS
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Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Helvetia It Servies | 12/30/22 | $197,374 |
Allied Universal Secutiry | 12/30/22 | $145,258 |
Ramon Banuchi Eurite Legal Services | 12/30/22 | $141,256 |
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 | $14,103,746 |
| Investment income | $0 |
| 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 | $14,103,746 |
| 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. | $215,354 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,535,714 |
| Pension plan accruals and contributions | $183,283 |
| Other employee benefits | $186,989 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $352,036 |
| 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 | $48,389 |
| Advertising and promotion | $0 |
| Office expenses | $96,895 |
| 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 | $167,332 |
| Interest | $1,281,060 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $336,568 |
| Insurance | $1,745,571 |
| All other expenses | $0 |
| Total functional expenses | $12,205,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,817,155 |
| Savings and temporary cash investments | $2,095,780 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $165,456,726 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,573,362 |
| Investments—publicly traded securities | $66,883,301 |
| Investments—other securities | $67,400,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,232,949 |
| Total assets | $359,459,273 |
| Accounts payable and accrued expenses | $2,783,649 |
| 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 | $232,034,015 |
| Total liabilities | $234,817,664 |
| Net assets without donor restrictions | $124,641,609 |
| Net assets with donor restrictions | $0 |
| 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 | $359,459,273 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cooperativa De Ahorro Y Credito De Rincon Rincon, PR | $738,053,311 | $27,176,725 |
Cooperativa De Ahorro Y Credito Camuy Camuy, PR | $320,383,128 | $20,587,482 |
Cooperativa De Ahorro Y Credito De Isabela Isabela, PR | $359,459,273 | $14,103,746 |
Cooperativa De Ahorro Y Credito Dr M Zeno Gandia Arecibo, PR | $275,358,165 | $16,104,186 |
Cooperativa De Ahorro Y Credito San Rafael De Que Quebradillas, PR | $226,668,640 | $20,006,028 |
Cooperative De Ahorro Y Credito De Lare Lares, PR | $222,090,136 | $15,865,234 |
Cooperativa De Ahorro Y Credito De Manati Inc Manati, PR | $217,103,471 | $12,946,475 |
Cooperativa De Ahorro Y Credito Maunabo Maunabo, PR | $235,618,166 | $16,255,291 |
Cooperative Ahorro Y Credito De Aguadilla Aquadilla, PR | $148,392,243 | $8,169,219 |
Cooperativa De Ahorro Y Credito Hatillo Hatillo, PR | $149,166,933 | $7,701,719 |
Cooperativa Ahorro Y Credito Pepiniana San Sebastian, PR | $116,485,705 | $5,412,427 |
Cooperativa De Ahorro Y Credito Morovena Morovis, PR | $105,307,292 | $8,648,954 |