Form 990 for tax year 2023
Filed by COOPERATIVE DE AHORRO Y CREDITO DE LARE.
Totals
- Total revenue
- $15,865,234
- Total expenses
- $10,086,130
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $11,508,702
- Other revenue
- $4,356,532
- Total assets, end of year
- $222,090,136
- Total liabilities, end of year
- $161,222,848
- Net assets or fund balances, end of year
- $60,867,288
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $10,086,130
- 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 $11,508,702 · related or exempt $11,508,702 · 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 $4,356,532 · related or exempt $4,356,532 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$4,356,532
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $783,848 · management and general $783,848
-
7 · Other salaries and wages
total $1,820,912 · management and general $1,820,912
-
8 · Pension plan contributions
total $122,642 · management and general $122,642
-
9 · Other employee benefits
total $180,184 · management and general $180,184
-
10 · Payroll taxes
total $252,610 · management and general $252,610
-
11g · Fees: other
total $170,430 · management and general $170,430
-
12 · Advertising and promotion
total $199,317 · management and general $199,317
-
13 · Office expenses
total $169,608 · management and general $169,608
-
16 · Occupancy
total $63,534 · management and general $63,534
-
17 · Travel
total $17,319 · management and general $17,319
-
19 · Conferences, conventions and meetings
total $102,187 · management and general $102,187
-
20 · Interest
total $927,368 · management and general $927,368
-
22 · Depreciation, depletion and amortization
total $574,476 · management and general $574,476
-
23 · Insurance
total $776,489 · management and general $776,489
-
24a · Other expenses: UTILITIES
total $314,204 · program services $0 · management and general $314,204 · fundraising $0
-
24b · Other expenses: MAINTENANCE EQUIPMENT
total $382,425 · program services $0 · management and general $382,425 · fundraising $0
-
24c · Other expenses: MAINTENANCE OF ATM SYSTEM
total $353,018 · program services $0 · management and general $353,018 · fundraising $0
-
24d · Other expenses: PROVISION OF BAD LOANS
total $1,376,530 · program services $0 · management and general $1,376,530 · fundraising $0
-
24e · All other expenses
total $1,499,029 · management and general $1,499,029
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $30,392,451 · end of year $28,226,092
-
2 · Savings and temporary cash investments
beginning of year $1,450,000 · end of year $1,000,000
-
4 · Accounts receivable
beginning of year $118,613,415 · end of year $129,441,481
-
5 · Loans and receivables from officers and key people
beginning of year $401,082 · end of year $107,575
-
10a · Land, buildings and equipment: cost or other basis
$22,596,519
-
10b · Land, buildings and equipment: accumulated depreciation
$8,410,708
-
10c · Land, buildings and equipment, net
beginning of year $14,618,311 · end of year $14,185,811
-
11 · Investments: publicly traded securities
beginning of year $35,183,452 · end of year $39,759,994
-
12 · Investments: other securities
beginning of year $5,696,935 · end of year $5,873,357
-
15 · Other assets
beginning of year $2,782,639 · end of year $3,495,826
-
17 · Accounts payable and accrued expenses
beginning of year $1,886,806 · end of year $1,871,114
-
25 · Other liabilities
beginning of year $154,803,641 · end of year $159,351,734
-
29 · Capital stock, trust principal or current funds
beginning of year $39,741,442 · end of year $39,988,778
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $12,345,794 · end of year $20,128,510
-
31 · Retained earnings, endowment or other funds
beginning of year $360,602 · end of year $750,000
Mission and programs · 2023
Mission
SAVINGS AND CREDIT UNION OPERATION
Activities or mission (Part I)
IT IS A NON PROFIT ORGANIZATION AND IS PRIMARILY DEDICATED TO RECEIVE SAVINGS FROM ITS MEMBERS IN THE FORM OF SHARES AND DEPOSITS.
-
INTERES INCOME AND OTHER INCOME OF $15,865,234 AND TOTAL EXPENSES OF $10,086,130.
As filed on the 2023 return.
Listed in Part VII
-
Carlos De JesusCARLOS DE JESUS
PRESIDENT
- Total calculated
- $116,688
- From this org
- $116,688
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Jose J Mercado MedinaJOSE J MERCADO MEDINA
MANAGER OF OPERATIONS
- Total calculated
- $78,000
- From this org
- $78,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Carlos J Centeno PerezCARLOS J CENTENO PEREZ
MANAGER OF DEPARMET CON SYSTEM
- Total calculated
- $72,280
- From this org
- $72,280
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Moises Tomassini RodriguezMOISES TOMASSINI RODRIGUEZ
MANAGER
- Total calculated
- $69,680
- From this org
- $69,680
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Johnny Montanez VargasJOHNNY MONTANEZ VARGAS
CONTROLLER
- Total calculated
- $66,040
- From this org
- $66,040
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Israel Rivera RiveraISRAEL RIVERA RIVERA
MANAGER
- Total calculated
- $65,000
- From this org
- $65,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Enid G Soto VelazquezENID G SOTO VELAZQUEZ
OFICCER OF COMPLIENCE
- Total calculated
- $59,280
- From this org
- $59,280
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Anelis Sanchez PerezANELIS SANCHEZ PEREZ
HUMAN RESOURCES OFFICER
- Total calculated
- $56,160
- From this org
- $56,160
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Jaheira CuevasJAHEIRA CUEVAS
ACCOUNTING SUPERVISOR
- Total calculated
- $55,120
- From this org
- $55,120
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Jeannette Jimenez RodriguezJEANNETTE JIMENEZ RODRIGUEZ
MANAGER
- Total calculated
- $49,920
- From this org
- $49,920
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Eduard Irizarry JimenezEDUARD IRIZARRY JIMENEZ
MANAGER
- Total calculated
- $49,920
- From this org
- $49,920
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Marybelis Acevedo OrtizMARYBELIS ACEVEDO ORTIZ
MANAGER
- Total calculated
- $45,760
- From this org
- $45,760
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
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
- 2023
- Filed
- 16 July 2024
- IRS schema version
- 2023v5.0
- Source object
- 202422419349301247
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