Cooperative De Ahorro Y Credito De Barranquitas
- Assets
- $321.9m
- Revenue
- $17.9m
- Investments
- $16.7m
- Employees
- 91
- Location
- Barranquitas, PR
- Founding
- 06/1987
- Data as of
- 12/2021
- EIN
- 66-0266453
Organization Overview
Cooperative De Ahorro Y Credito De Barranquitas is located in Barranquitas, PR. The organization was established in 1987. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Cooperative DE Ahorro Y Credito DE Barranquitas employed 91 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cooperative DE Ahorro Y Credito DE Barranquitas 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, Cooperative DE Ahorro Y Credito DE Barranquitas generated $17.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $13.7m during the year ending 12/2021. While expenses have increased by 4.1% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
A NON PROFIT ORGANIZATION PRIMARILY DEDICATED TO RECEIVE SAVINGS FORM ITS MEMBERS IN THE FORM OF SHARES AND DEPOSITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
INTEREST INCOME AND OTHER INCOME OF $17,940,942 AND TOTAL EXPENSES OF $13,693,966.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Miguel Ortiz Santos President | 50 | $138,513 | |
Carmen Torres Zayas VP Human Resources | Officer | 50 | $73,582 |
Angel Ortiz Vazquez VP Operations | Officer | 50 | $63,251 |
Ada Morales La Santa Manager | Officer | 50 | $53,502 |
Damaris Ramirez Ocasio Manager | Officer | 50 | $51,113 |
Jose H Perez Maldonado Manager | Officer | 50 | $47,281 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Evertec Group Services Of Program | 12/30/21 | $105,632 |
Gcit Inc Technology | 12/30/21 | $121,091 |
Genesis Green Systems Renewable Energy System | 12/30/21 | $164,771 |
Alta Comunication Promotions | 12/30/21 | $102,852 |
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 | $13,453,494 |
| 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 | $17,940,942 |
| 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. | $557,863 |
| Compensation of current officers, directors, key employees. | $557,863 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,772,147 |
| Pension plan accruals and contributions | $206,261 |
| Other employee benefits | $0 |
| Payroll taxes | $223,944 |
| 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 | $2,078,291 |
| Advertising and promotion | $358,455 |
| Office expenses | $68,351 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $277,840 |
| Travel | $112,444 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $70,000 |
| Interest | $974,517 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $398,227 |
| Insurance | $998,679 |
| All other expenses | $4,189,921 |
| Total functional expenses | $13,693,966 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,786,068 |
| Savings and temporary cash investments | $4,350,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $534,733 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $178,982,650 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $7,313,512 |
| Investments—publicly traded securities | $81,290,917 |
| Investments—other securities | $16,651,595 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,022,296 |
| Total assets | $321,931,771 |
| Accounts payable and accrued expenses | $8,982,953 |
| 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 | $232,586,940 |
| Total liabilities | $241,569,893 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $60,383,075 |
| Paid-in or capital surplus, or land, building, or equipment fund | $18,978,803 |
| Retained earnings, endowment, accumulated income, or other funds | $1,000,000 |
| Total liabilities and net assets/fund balances | $321,931,771 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cooperative De Ahorro Y Credito De Barranquitas Barranquitas, PR | $321,931,771 | $17,940,942 |
Love In Motion Foundation Inc Bayamon, PR | $92,896 | $0 |
Hera Institute Inc San Juan, PR | $3,419 | $0 |
Third Sector Connect Inc Toa Baja, PR | $0 | $0 |
Centro De Servicios Manantial De Vida Inc Ponce, PR | $0 | $0 |