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Nonprofiteer
← COOPERATIVA DE AHORRO Y CREDITO SAN RAFAEL DE QUE

Form 990 for tax year 2022

Filed by COOPERATIVA DE AHORRO Y CREDITO SAN RAFAEL DE QUE.

Totals

Total revenue
$11,862,672
Total expenses
$8,492,097
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$10,235,564
Other revenue
$1,627,108
Total assets, end of year
$218,574,543
Total liabilities, end of year
$164,549,063
Net assets or fund balances, end of year
$54,025,480
Program services expenses (Part IX)
$0
Management and general expenses
$8,492,097
Fundraising expenses
$0
Program service expenses (Part III)
$0

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $10,235,564 · related or exempt $10,235,564 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $1,627,108 · related or exempt $1,627,108 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $1,627,108

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $246,059 · management and general $246,059

  • 7 · Other salaries and wages

    total $1,503,880 · management and general $1,503,880

  • 8 · Pension plan contributions

    total $85,739 · management and general $85,739

  • 10 · Payroll taxes

    total $165,216 · management and general $165,216

  • 11g · Fees: other

    total $618,357 · management and general $618,357

  • 12 · Advertising and promotion

    total $332,502 · management and general $332,502

  • 13 · Office expenses

    total $150,923 · management and general $150,923

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $88,669 · management and general $88,669

  • 18 · Travel or entertainment for public officials

    total $18,011 · management and general $18,011

  • 19 · Conferences, conventions and meetings

    total $45,909 · management and general $45,909

  • 20 · Interest

    total $858,985 · management and general $858,985

  • 22 · Depreciation, depletion and amortization

    total $417,155 · management and general $417,155

  • 23 · Insurance

    total $1,006,613 · management and general $1,006,613

  • 24a · Other expenses: PROVISION FOR LOAN LOSSES

    total $600,000 · program services $0 · management and general $600,000 · fundraising $0

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $598,280 · program services $0 · management and general $598,280 · fundraising $0

  • 24c · Other expenses: UTILITIES

    total $194,437 · program services $0 · management and general $194,437 · fundraising $0

  • 24d · Other expenses: MAINTENANCE OF ATM

    total $289,754 · program services $0 · management and general $289,754 · fundraising $0

  • 24e · All other expenses

    total $1,271,608 · management and general $1,271,608

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $52,504,619 · end of year $25,281,013

  • 2 · Savings and temporary cash investments

    beginning of year $15,425,000 · end of year $9,675,000

  • 5 · Loans and receivables from officers and key people

    beginning of year $145,827 · end of year $162,362

  • 7 · Other notes and loans receivable

    beginning of year $101,452,850 · end of year $107,665,704

  • 10a · Land, buildings and equipment: cost or other basis

    $11,168,449

  • 10b · Land, buildings and equipment: accumulated depreciation

    $8,018,246

  • 10c · Land, buildings and equipment, net

    beginning of year $3,407,553 · end of year $3,150,203

  • 11 · Investments: publicly traded securities

    beginning of year $44,284,681 · end of year $60,136,045

  • 12 · Investments: other securities

    beginning of year $9,595,508 · end of year $9,719,749

  • 15 · Other assets

    beginning of year $2,946,423 · end of year $2,784,467

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,200,667 · end of year $1,205,082

  • 25 · Other liabilities

    beginning of year $168,691,190 · end of year $163,343,981

  • 29 · Capital stock, trust principal or current funds

    beginning of year $44,331,553 · end of year $45,546,227

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $14,989,051 · end of year $8,414,953

  • 31 · Retained earnings, endowment or other funds

    beginning of year $550,000 · end of year $64,300

Mission and programs · 2022

Mission

TO PROMOTE THE SAVING AMONG ITS MEMBERS BY SAVING DEPOSITS AND FINANCING SERVICES

Activities or mission (Part I)

TO PROVIDE FINANCIAL SERVICES AS LOANS, SAVINGS AND ACCOUNTS MAINLY TO LOW INCOME SECTOR OF THE PUERTO RICO. ALSO, CREDIT UNION MAKE A SOCIAL INVESTMENT IN THE COMMUNITY.

  • INTEREST INCOME AND OTHER INCOME OF$11,862,672 AND TOTAL EXPENSES OF $8,492,097.

As filed on the 2022 return.

Listed in Part VII

  • Sara M Jimenez Gonzalez

    PRESIDENTE EJECUTIVA

    Total calculated
    $116,089
    From this org
    $116,089
    From related orgs
    $0
    Other
    $0
    Hours/week
    0 + 55 related

  • Annie Rodriguez

    VP OPERATIONS

    Total calculated
    $69,556
    From this org
    $69,556
    From related orgs
    $0
    Other
    $0
    Hours/week
    0 + 45 related

  • Laritza Millet Torres

    DIRECTOR OF FINANCE

    Total calculated
    $60,414
    From this org
    $60,414
    From related orgs
    $0
    Other
    $0
    Hours/week
    0 + 45 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
27 June 2023
IRS schema version
2022v5.0
Source object
202323209349300837

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