Cooperativa De Ahorro Y Credito De Mayaguez is located in Mayaguez, PR. The organization was established in 0000. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Cooperativa DE Ahorro Y Credito DE Mayaguez employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cooperativa DE Ahorro Y Credito DE Mayaguez is a 501(c)(16) and as such, is described as a "Cooperative Organization to Finance Crop Operations" by the IRS.
For the year ending 12/2021, Cooperativa DE Ahorro Y Credito DE Mayaguez generated $4.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $3.7m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.1%) 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
PROVIDE QUALITY FINANCING AND SAVING SERVICES TO MEMBERS AND NONMEMBERS AS A COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REVENUES EARNED FROM LENDING AND SERVICES PROVIDED TO MEMBERS, ALSO FROM INVESTING ACTIVITIES. MEMBERS RECEIVE INTEREST PAYMENTS FOR THEIR DEPOSITS HELD IN THE STATE CREDIT UNION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Mildred Perez Lebron General Manager | Officer | 40 | $57,370 |
Santos Valentin President Of Bod | Trustee | 4 | $0 |
Osvaldo Ramirez Secretary | Trustee | 4 | $0 |
Victor Rodriguez Vice President | Trustee | 4 | $0 |
Marta Irizarry Director | Trustee | 4 | $0 |
Raul A Pla Directo | Trustee | 4 | $0 |
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 | $3,420,867 |
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 | $4,205,135 |
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. | $57,370 |
Compensation of current officers, directors, key employees. | $57,370 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $697,906 |
Pension plan accruals and contributions | $30,549 |
Other employee benefits | $131,205 |
Payroll taxes | $66,201 |
Fees for services: Management | $0 |
Fees for services: Legal | $37,998 |
Fees for services: Accounting | $8,300 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $57,795 |
Advertising and promotion | $129,927 |
Office expenses | $65,931 |
Information technology | $43,116 |
Royalties | $0 |
Occupancy | $57,744 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $15,000 |
Interest | $265,175 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $87,017 |
Insurance | $296,261 |
All other expenses | $354,454 |
Total functional expenses | $3,736,834 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $3,675,613 |
Savings and temporary cash investments | $15,160,314 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $371,068 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $37,643,345 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $318,570 |
Net Land, buildings, and equipment | $938,262 |
Investments—publicly traded securities | $28,202,168 |
Investments—other securities | $3,484,729 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $8,021,762 |
Total assets | $97,815,831 |
Accounts payable and accrued expenses | $335,252 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $198,957 |
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 | $69,824,135 |
Total liabilities | $70,358,344 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $19,791,924 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $7,665,563 |
Total liabilities and net assets/fund balances | $97,815,831 |
Over the last fiscal year, we have identified 1 grants that Cooperativa De Ahorro Y Credito De Mayaguez has recieved totaling $7,000.
Awarding Organization | Amount |
---|---|
Inclusiv Inc New York, NY PURPOSE: CREDIT UNION IMPACT CAPACITY BUILDING | $7,000 |
Organization Name | Assets | Revenue |
---|---|---|
Ponce Medical School Foundation Inc Ponce, PR | $11,600,859 | $25,661,618 |
Liga Puertorriquena Contra El Cancer San Juan, PR | $38,669,713 | $26,629,150 |
Universidad Central Del Caribe Inc Bayamon, PR | $35,289,249 | $27,377,681 |
Cooperativa De Ahorro Y Credito Oriental Humacao, PR | $433,041,205 | $23,460,952 |
Centros Sor Isolina Ferre Inc Ponce, PR | $22,315,489 | $16,849,878 |
Corp Serv Med Prim Y Prev De Hatillo Hatillo, PR | $36,236,018 | $21,541,946 |
Caribbean University Bayamon, PR | $48,412,485 | $17,932,008 |
Puerto Rico Legal Services Incorporated San Juan, PR | $18,895,657 | $19,069,485 |
Boys & Girls Clubs Of Puerto Rico Inc Carolina, PR | $20,563,847 | $15,690,113 |
Baldwin School Of Puerto Rico Inc Bayamon, PR | $21,469,124 | $15,474,261 |
Cooperative De Ahorro Y Credito De Barranquitas Barranquitas, PR | $321,931,771 | $17,940,942 |
Alianza Municipal De Servicios Caguas, PR | $4,966,942 | $12,673,262 |