Cooperativa De Ahorro Y Credito Oriental
- Assets
- $436.9m
- Revenue
- $30.4m
- Investments
- $116.7m
- Employees
- 123
- Location
- Humacao, PR
- Founding
- Data as of
- 12/2023
- EIN
- 66-0287790
Organization Overview
Cooperativa De Ahorro Y Credito Oriental is located in Humacao, PR. As of 12/2023, 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 12/2023, Cooperativa DE Ahorro Y Credito Oriental generated $30.4m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $25.1m during the year ending 12/2023. While expenses have increased by 10.7% per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FINANCIAL 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 $30,373,984 AND TOTAL EXPENSES OF $25,096,010.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amaryllis Ayala Hernaiz VP Operation | Officer | 45 | $285,345 |
William Mendez Pagan Executive Presidente | 45 | $249,785 | |
Idelfonso Rodriguez Rivera VP Finance | Officer | 45 | $115,275 |
Mayra Medina Rivera VP Of Credit | Officer | 45 | $46,955 |
Israel Quinonez Diaz President Of Board | Trustee | 10 | $0 |
Wanda G Diaz Diaz VP Of Board | Trustee | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rivera Gimenez Estudio Legal Legal Services | 12/30/23 | $184,146 |
Angel M Rodriguez Virella Consulting | 12/30/23 | $245,282 |
Synergi Partners Consulting Cares Act | 12/30/23 | $102,209 |
Rodriguez Virella Consulting Group Llc Consulting | 12/30/23 | $590,581 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,000,000 |
| 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 | $3,000,000 |
| Total Program Service Revenue | $0 |
| Investment income | $18,665,604 |
| 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 | $30,373,984 |
| 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. | $697,360 |
| Compensation of current officers, directors, key employees. | $697,360 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,333,129 |
| Pension plan accruals and contributions | $215,787 |
| Other employee benefits | $210,821 |
| Payroll taxes | $476,201 |
| 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 | $655,628 |
| Advertising and promotion | $722,350 |
| Office expenses | $345,808 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $166,600 |
| Travel | $52,743 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,419 |
| Interest | $4,674,167 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,205,328 |
| Insurance | $1,208,027 |
| All other expenses | $3,528,758 |
| Total functional expenses | $25,096,010 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,989,176 |
| Savings and temporary cash investments | $2,000,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $758,608 |
| Notes and loans receivable | $252,044,607 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $14,306,472 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $116,734,384 |
| Investments—program-related | $8,275,759 |
| Intangible assets | $0 |
| Other assets | $19,815,690 |
| Total assets | $436,924,696 |
| Accounts payable and accrued expenses | $11,548,804 |
| 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 | $307,932,840 |
| Total liabilities | $319,481,644 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $99,686,389 |
| Paid-in or capital surplus, or land, building, or equipment fund | $16,179,332 |
| Retained earnings, endowment, accumulated income, or other funds | $1,577,331 |
| Total liabilities and net assets/fund balances | $436,924,696 |