Cooperativa De Ahorro Y Credito De Aguada
- Assets
- $0.0
- Revenue
- $7.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Aguada, PR
- Founding
- 04/1986
- Data as of
- 12/2021
- EIN
- 66-0217490
Organization Overview
Cooperativa De Ahorro Y Credito De Aguada is located in Aguada, PR. The organization was established in 1986. According to its NTEE Classification (F20) the organization is classified as: Substance Abuse Dependency, Prevention & Treatment, under the broad grouping of Mental Health & Crisis Intervention 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 Aguada 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 DE Ahorro Y Credito DE Aguada generated $7.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.2%) each year. All expenses for the organization totaled $7.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (9.5%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE SAVING AMONG ITS MEMBERS BY SAVINGS DEPOSITS AND FINANCING SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY PURPOSE OF THE COOPERATIVE IS TO RECEIVE DEPOSITS FROM ITS PARTNERS IN THE FORM OF SAVINGS AND STOCK, AND PROVIDE A SOURCE OF FINANCING AT LOWER COST THAN OFFERED BY OTHER FINANCIAL INSTITUTIONS. THE COOPERATIVE OFFERS A VARIETY OF FINANCIAL SERVICES, INCLUDING BUT NOT LIMITED TO SAVINGS AND CHECKING ACCOUNTS, PERSONAL LOANS, MORTGAGE LOANS, COMMERCIAL LOANS, RESOLVING CREDIT LINES AND OTHERS FINANCING SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raul M Anglero General Manager (ceased) | 40 | $146,466 | |
Rosa I Bonilla Aviles Manager | Officer | 40 | $60,395 |
Miriam Soto Soto Mortgage Supervisor | Officer | 40 | $48,540 |
Elizabeth Rivera Perez Accounting Manager | Officer | 40 | $45,048 |
Wanda I Traverso Mendoza Executive Officer | Officer | 40 | $40,711 |
Gabriel E Chaparro Ramos Admin Officer Comercial Loans | Officer | 40 | $39,798 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aguada Security Services Inc Security | 12/30/17 | $108,652 |
Securitas Security Services Of Pr Security | 12/30/17 | $138,874 |
Slcnlaw Psc Legal | 12/30/17 | $206,861 |
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 | $6,237,235 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $400,261 |
| 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 | $7,181,261 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,047,139 |
| Pension plan accruals and contributions | $37,164 |
| Other employee benefits | $86,373 |
| Payroll taxes | $117,512 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $327,332 |
| Advertising and promotion | $32,306 |
| Office expenses | $163,444 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $63,750 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,616,754 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $341,837 |
| Insurance | $479,717 |
| All other expenses | $644,564 |
| Total functional expenses | $7,480,646 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $0 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cooperativa De Ahorro Y Credito De Aguada Aguada, PR | $0 | $7,181,261 |
Hogar De Ayuda El Refugio Inc Catano, PR | $701,205 | $705,776 |
Hogar Santisima Trinidad Inc Bayamon, PR | $247,426 | $428,208 |
Casa Juan Pablo Ii Inc San German, PR | $63,134 | $83,437 |
A New Life Mens Center Inc Juana Diaz, PR | $29,396 | $0 |
Hogar Crea International Inc Saint Just, PR | $3,618 | $0 |