Fondo De Inversion Y Desarrollo Cooperativo
- Assets
- $41.4m
- Revenue
- $53.3k
- Investments
- $30.2m
- Employees
- 8
- Location
- San Juan, PR
- Founding
- Data as of
- 12/2021
- EIN
- 66-0631697
Organization Overview
Fondo De Inversion Y Desarrollo Cooperativo is located in San Juan, PR. As of 12/2021, Fondo DE Inversion Y Desarrollo Cooperativo employed 8 individuals. Fondo DE Inversion Y Desarrollo Cooperativo 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, Fondo DE Inversion Y Desarrollo Cooperativo generated $53.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (74.0%) each year. All expenses for the organization totaled $633.3k during the year ending 12/2021. 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 PROMOTE THE SOCIAL ECONOMIC DEVELOPMENT IN PUERTO RICO THROUGH THE PARTICIPATION IN THE CREDIT UNION AND PUBLIC SECTOR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TOTAL INCOME IS $53,303 PROGRAM EXPENSES OF 376,340 PLUS GENERAL EXPENSES 256,956 TOTAL OF $633,296.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jose J Ramirez Ruiz Executive Director | Officer | 40 | $84,000 |
Normarie Caraballo Operation Director | Officer | 40 | $59,800 |
Federico Rivera Saez President | Trustee | 10 | $0 |
Israel Velez Colon Vice President | Trustee | 10 | $0 |
Glorimar Lamboy Torres Director | Trustee | 10 | $0 |
Ivan A Otero Matos Secretary | Trustee | 10 | $0 |
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 | $439,181 |
| Tax Exempt Bond Proceeds | -$691,354 |
| 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 | $53,303 |
| 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. | $136,402 |
| Compensation of current officers, directors, key employees. | $39,557 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $133,731 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,039 |
| Payroll taxes | $55,365 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,560 |
| Fees for services: Accounting | $34,364 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $42,955 |
| Advertising and promotion | $4,344 |
| Office expenses | $8,309 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,695 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,729 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,181 |
| Insurance | $23,889 |
| All other expenses | $63,190 |
| Total functional expenses | $633,296 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,078,044 |
| Savings and temporary cash investments | $6,935,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $272,692 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,054,632 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,535 |
| Net Land, buildings, and equipment | $16,059 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $30,229,964 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $798,787 |
| Total assets | $41,391,713 |
| Accounts payable and accrued expenses | $100,613 |
| 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 | $0 |
| Total liabilities | $100,613 |
| Net assets without donor restrictions | $40,963,399 |
| Net assets with donor restrictions | $327,701 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $41,391,713 |
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Hospital Damas Inc Ponce, PR | $56,244,610 | $73,414,103 |
Presbyterian Community Hospital Inc San Juan, PR | $49,406,530 | $70,919,559 |
Pontifical Catholic University Of Puerto Rico Ponce, PR | $161,066,580 | $97,269,712 |
Cossma Inc Cidra, PR | $107,333,150 | $66,362,775 |
Neomed Center Inc Gurabo, PR | $65,808,264 | $60,486,712 |
Hospital Menonita Guayama Inc Cidra, PR | $149,499,387 | $86,573,108 |
Hpm Foundation Inc San Juan, PR | $29,670,863 | $56,807,836 |
Ryder Memorial Hospital Inc Humacao, PR | $33,920,487 | $48,860,156 |