Cooperativa De Ahorro Y Credito Oriental
- Assets
- $433.0m
- Revenue
- $23.5m
- Investments
- $130.0m
- Employees
- 123
- Location
- Humacao, PR
- Founding
- Data as of
- 12/2021
- EIN
- 66-0287790
Organization Overview
Cooperativa De Ahorro Y Credito Oriental is located in Humacao, PR. As of 12/2021, Cooperativa DE Ahorro Y Credito Oriental employed 123 individuals. Cooperativa DE Ahorro Y Credito Oriental 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 Oriental generated $23.5m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $18.0m during the year ending 12/2021. While expenses have increased by 3.9% per year over the past 2 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
TO PROVIDE FINANCCIAL SERVICES AS LOANS, SAVINGS AND ACCOUNTS MAINLY TO LOW INCOME SECTOR OF PEOPLE IN PUERTO RICO. ALSO, CREDIT UNION MAKE A SOCILA INVESMENT IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INTEREST INCOME AND OTHER INCOME OF $23,460,952 AND TOTAL EXPENSES OF $18,014,642.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angel Rodriguez Virella Executive Presidente | 40 | $388,642 | |
Idelfonso Roediguez Virella VP Finance | Officer | 40 | $241,253 |
Amaryllis Ayala Hernaiz VP Operation | Officer | 40 | $100,723 |
Sharon Medina Burgos VP Comercial Credit | Officer | 40 | $88,657 |
Cesar Morales Bonilla President Of Board | Trustee | 1 | $0 |
Francisco Rosado Torres VP Of Board | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rivera Gimenez Estudio Legal Legal Services | 12/30/21 | $271,511 |
Bersa Group Architect | 12/30/21 | $134,411 |
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 | $16,013,809 |
| 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 | $23,460,952 |
| 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. | $819,275 |
| Compensation of current officers, directors, key employees. | $819,275 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,475,981 |
| Pension plan accruals and contributions | $175,527 |
| Other employee benefits | $390,096 |
| Payroll taxes | $0 |
| 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 | $351,836 |
| Advertising and promotion | $766,028 |
| Office expenses | $294,296 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $163,800 |
| Travel | $68,912 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $55,000 |
| Interest | $1,143,198 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,066,683 |
| Insurance | $1,048,539 |
| All other expenses | $3,459,514 |
| Total functional expenses | $18,014,642 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,222,430 |
| Savings and temporary cash investments | $2,500,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $258,344 |
| Notes and loans receivable | $228,163,778 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $14,135,869 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $129,995,369 |
| Investments—program-related | $7,543,037 |
| Intangible assets | $0 |
| Other assets | $20,222,378 |
| Total assets | $433,041,205 |
| Accounts payable and accrued expenses | $5,531,581 |
| 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 | $277,202,318 |
| Total liabilities | $282,733,899 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $124,868,389 |
| Paid-in or capital surplus, or land, building, or equipment fund | $24,050,102 |
| Retained earnings, endowment, accumulated income, or other funds | $1,388,815 |
| Total liabilities and net assets/fund balances | $433,041,205 |
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