Cooperativa De Ahorro Y Credito Industria Biofarmaceutica
- Assets
- $84.7m
- Revenue
- $3.7m
- Investments
- $1.1m
- Employees
- 32
- Location
- Carolina, PR
- Founding
- Data as of
- 12/2020
- EIN
- 66-0347008
Organization Overview
Cooperativa De Ahorro Y Credito Industria Biofarmaceutica is located in Carolina, PR. As of 12/2020, Cooperativa DE Ahorro Y Credito Industria Biofarmaceutica employed 32 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 12/2020, Cooperativa DE Ahorro Y Credito Industria Biofarmaceutica generated $3.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $3.9m during the year ending 12/2020. 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
2020
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 $3,369,549. ALSO HAD OTHER INCOME OF $371,101 FOR A TOTAL REVENUE OF $3,740,650. THE ORGANIZATION HAD TOTAL EXPENSES OF $3,892,503 RESULTING A DEFICIT OF $151,853.
THE ORGANIZATION GENERATED INTEREST INCOME FROM ITS OPERATIONS OF $3,369,549. ALSO HAD OTHER INCOME OF $371,101 FOR A TOTAL REVENUE OF $3,740,650. THE ORGANIZATION HAD TOTAL EXPENSES OF $3,892,503 RESULTING A DEFICIT OF $151,853.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rafael Flores Perez President | 45 | $111,416 | |
Pedro Quinones VP Operations | Officer | 45 | $56,935 |
Adriano DE La Nuez VP Information | Officer | 45 | $53,015 |
Jorge Hernandez Controller | Officer | 45 | $42,719 |
Sandra Ferrer Supervisor | Officer | 43 | $41,070 |
Zuleima Vargas Supervisor | Officer | 0 | $40,562 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Helvetia Del Caribe Software Program | 12/30/20 | $218,075 |
Triple S Vida Health Insurance | 12/30/20 | $119,388 |
First Medical Health Plan Health Insurance | 12/30/20 | $132,137 |
Triple S Vida Health Insurance | 12/30/20 | $119,388 |
Helvetia Del Caribe Software Program | 12/30/20 | $218,075 |
First Medical Health Plan Health Insurance | 12/30/20 | $132,137 |
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 | $3,369,549 |
| 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 | $3,740,650 |
| 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. | $411,615 |
| Compensation of current officers, directors, key employees. | $411,615 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $612,485 |
| 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 | $94,487 |
| Advertising and promotion | $37,107 |
| Office expenses | $6,243 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,476 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,247 |
| Interest | $434,685 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $138,671 |
| Insurance | $415,377 |
| All other expenses | $587,999 |
| Total functional expenses | $3,892,503 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,106,732 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $312,968 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $44,443,046 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $725,001 |
| Investments—publicly traded securities | $2,882,824 |
| Investments—other securities | $1,077,543 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,134,693 |
| Total assets | $84,682,807 |
| Accounts payable and accrued expenses | $1,119,091 |
| 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 | $55,732,543 |
| Total liabilities | $57,331,634 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $24,647,906 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $2,703,267 |
| Total liabilities and net assets/fund balances | $84,682,807 |
Peer Organizations
| 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 |