Cooperativa De Ahorro Y Credito Industria Biofarmaceutica
- Assets
- $91.1m
- Revenue
- $5.3m
- Investments
- $1.1m
- Employees
- 34
- Location
- Carolina, PR
- Founding
- Data as of
- 12/2023
- EIN
- 66-0347008
Organization Overview
Cooperativa De Ahorro Y Credito Industria Biofarmaceutica is located in Carolina, PR. As of 12/2023, Cooperativa DE Ahorro Y Credito Industria Biofarmaceutica employed 34 individuals. Cooperativa DE Ahorro Y Credito Industria Biofarmaceutica 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 Industria Biofarmaceutica generated $5.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $5.4m during the year ending 12/2023. While expenses have increased by 5.7% per year over the past 9 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
A NON PROFIT ORGANIZATION PRIMARILY ENGAGED TO RECEIVE SAVINGS FROM ITS MEMBERS IN THE FORM OF SHARES AND DEPOSITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION GENERATED INTEREST INCOME FROM ITS OPERATIONS OF $4,692,459. ALSO HAD OTHER INCOME OF $576,212 FOR A TOTAL REVENUE $5,268,671. THE ORGANIZATION HAD TOTAL EXPENSES OF $5,398,723 RESULTING IN A NET LOSS OF $130,052
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Antonio Cruz Rodriguez Executive Presidentactual | Officer | 40 | $14,808 |
Rafael Flores Perez Executive Presidentpast | 40 | $141,647 | |
Pedro Quinones Ramos Gerente De Operaciones | Officer | 40 | $86,454 |
Gil J Ramos Ortiz Comptroller | Officer | 40 | $61,101 |
Adriano DE La Nuez Gerente It | Officer | 40 | $59,005 |
Jose J Arce Rivera Board Presidente | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Helvetia Del Caribe Software Program | 12/30/20 | $218,075 |
First Medical Health Plan Health Insurance | 12/30/20 | $132,137 |
Triple S Vida Health Insurance | 12/30/20 | $119,388 |
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 | $4,692,459 |
| 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 | $5,268,671 |
| 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. | $363,015 |
| Compensation of current officers, directors, key employees. | $363,015 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,123,738 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| 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 | $176,290 |
| Advertising and promotion | $150,290 |
| Office expenses | $6,865 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,069 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $78,003 |
| Interest | $797,969 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $134,078 |
| Insurance | $502,744 |
| All other expenses | $751,422 |
| Total functional expenses | $5,398,723 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,251,732 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $535,430 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $64,331,835 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $781,481 |
| Investments—publicly traded securities | $8,930,423 |
| Investments—other securities | $1,135,828 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,086,662 |
| Total assets | $91,053,391 |
| Accounts payable and accrued expenses | $871,241 |
| 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 | $480,000 |
| Other liabilities | $61,525,303 |
| Total liabilities | $62,876,544 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $23,358,395 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $4,818,452 |
| Total liabilities and net assets/fund balances | $91,053,391 |