Cooperativa De Ahorro Y Credito Vega Alta
- Assets
- $352.3m
- Revenue
- $22.1m
- Investments
- $10.7m
- Employees
- 81
- Location
- Founding
- Data as of
- 12/2023
- EIN
- 66-0214784
Organization Overview
Cooperativa De Ahorro Y Credito Vega Alta is located in null. As of 12/2023, Cooperativa DE Ahorro Y Credito Vega Alta employed 81 individuals. Cooperativa DE Ahorro Y Credito 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 12/2023, Cooperativa DE Ahorro Y Credito Vega Alta generated $22.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $13.5m during the year ending 12/2023. 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
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 $22,056,887 AND TOTAL EXPENSES OF $13,471,793 .
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ruben Morales President | 40 | $312,139 | |
Victor Torres Vice President Information Systems | Officer | 40 | $141,099 |
Nancy Colon Vice President Administration | Officer | 40 | $128,184 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Certified Cleaning Llc Office Maintenance | 12/30/23 | $125,381 |
Slcnlaw Psc Legal Services | 12/30/23 | $268,216 |
Synergi Partners Pr Llc Consulting | 12/30/23 | $116,206 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,718,258 |
| 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 | $3,718,258 |
| Total Program Service Revenue | $0 |
| Investment income | $14,936,845 |
| 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 | $22,056,887 |
| 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. | $581,422 |
| Compensation of current officers, directors, key employees. | $581,422 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,704,702 |
| Pension plan accruals and contributions | $337,588 |
| Other employee benefits | $442,131 |
| Payroll taxes | $335,594 |
| 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 | $321,775 |
| Advertising and promotion | $314,900 |
| Office expenses | $87,613 |
| Information technology | $350,917 |
| Royalties | $0 |
| Occupancy | $85,257 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $122,602 |
| Interest | $921,556 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $482,360 |
| Insurance | $1,768,224 |
| All other expenses | $2,279,202 |
| Total functional expenses | $13,471,793 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $94,286,689 |
| Savings and temporary cash investments | $54,268,827 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $146,494 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $157,508,015 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $7,884,091 |
| Investments—publicly traded securities | $24,261,866 |
| Investments—other securities | $10,672,084 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,286,817 |
| Total assets | $352,314,883 |
| Accounts payable and accrued expenses | $4,025,461 |
| 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 | $258,410,261 |
| Total liabilities | $262,435,722 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $58,320,923 |
| Paid-in or capital surplus, or land, building, or equipment fund | $30,058,238 |
| Retained earnings, endowment, accumulated income, or other funds | $1,500,000 |
| Total liabilities and net assets/fund balances | $352,314,883 |
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