Form 990 for tax year 2022
Filed by COOPERATIVA DE AHORRO Y CREDITO DE MAYAGUEZ.
Totals
- Total revenue
- $4,451,822
- Total expenses
- $4,221,545
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $3,432,905
- Other revenue
- $1,018,917
- Total assets, end of year
- $91,409,973
- Total liabilities, end of year
- $66,844,958
- Net assets or fund balances, end of year
- $24,565,015
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $4,221,545
- 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 $3,432,905 · related or exempt $3,432,905 · 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
-
11a · Other revenue: FEES TO MEMBERS
total $1,018,917 · related or exempt $1,018,917 · unrelated business $0 · excluded $0
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$1,018,917
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $62,231 · management and general $62,231
-
7 · Other salaries and wages
total $829,716 · management and general $829,716
-
8 · Pension plan contributions
total $29,537 · management and general $29,537
-
9 · Other employee benefits
total $146,398 · management and general $146,398
-
10 · Payroll taxes
total $77,860 · management and general $77,860
-
11b · Fees: legal
total $43,956 · management and general $43,956
-
11c · Fees: accounting
total $13,500 · management and general $13,500
-
11g · Fees: other
total $79,813 · management and general $79,813
-
12 · Advertising and promotion
total $155,531 · management and general $155,531
-
13 · Office expenses
total $59,599 · management and general $59,599
-
14 · Information technology
total $28,423 · management and general $28,423
-
16 · Occupancy
total $59,766 · management and general $59,766
-
19 · Conferences, conventions and meetings
total $21,944 · management and general $21,944
-
20 · Interest
total $192,450 · management and general $192,450
-
22 · Depreciation, depletion and amortization
total $94,226 · management and general $94,226
-
23 · Insurance
total $309,689 · management and general $309,689
-
24a · Other expenses: BANK CHARGES
total $376,391 · program services $0 · management and general $376,391 · fundraising $0
-
24b · Other expenses: PROVISION FOR LOAN LOSSES
total $400,000 · program services $0 · management and general $400,000 · fundraising $0
-
24c · Other expenses: PR BOND LOSSES BASED ON LAW 220
total $722,906 · program services $0 · management and general $722,906 · fundraising $0
-
24d · Other expenses: ANNUAL LICENSES FOR CORE PROGRAM
total $135,393 · program services $0 · management and general $135,393 · fundraising $0
-
24e · All other expenses
total $382,216 · management and general $382,216
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,675,613 · end of year $633,108
-
2 · Savings and temporary cash investments
beginning of year $15,160,314 · end of year $15,771,770
-
4 · Accounts receivable
beginning of year $371,068 · end of year $2,568,745
-
7 · Other notes and loans receivable
beginning of year $37,643,345 · end of year $37,860,887
-
9 · Prepaid expenses and deferred charges
beginning of year $318,570 · end of year $313,625
-
10a · Land, buildings and equipment: cost or other basis
$3,233,104
-
10b · Land, buildings and equipment: accumulated depreciation
$2,372,486
-
10c · Land, buildings and equipment, net
beginning of year $938,262 · end of year $860,618
-
11 · Investments: publicly traded securities
beginning of year $28,202,168 · end of year $24,330,357
-
12 · Investments: other securities
beginning of year $3,484,729 · end of year $3,624,984
-
15 · Other assets
beginning of year $8,021,762 · end of year $5,445,879
-
17 · Accounts payable and accrued expenses
beginning of year $335,252 · end of year $490,057
-
21 · Escrow or custodial account liability
beginning of year $198,957 · end of year $217,318
-
25 · Other liabilities
beginning of year $69,824,135 · end of year $66,137,583
-
29 · Capital stock, trust principal or current funds
beginning of year $19,791,924 · end of year $19,979,135
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $7,665,563 · end of year $4,585,880
Mission and programs · 2022
Mission
THE ORGANIZATION IS A CREDIT UNION THAT PROVIDES QUALITY FINANCING AND SAVING SERVICES TO MEMBERS AND NONMEMBERS.
Activities or mission (Part I)
PROVIDE QUALITY FINANCING AND SAVING SERVICES TO MEMBERS AND NONMEMBERS AS A COOPERATIVE.
-
REVENUES EARNED FROM LENDING AND SERVICES PROVIDED TO MEMBERS, ALSO FROM INVESTING ACTIVITIES. MEMBERS RECEIVE INTEREST PAYMENTS FOR THEIR DEPOSITS HELD IN THE STATE CREDIT UNION.
As filed on the 2022 return.
Listed in Part VII
-
Mildred Perez LebronMILDRED PEREZ LEBRON
Presidenta Ejecutiva
- Total calculated
- $62,231
- From this org
- $62,231
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Israel ValentinISRAEL VALENTIN
TREASURER
- Total calculated
- $3,580
- From this org
- $0
- From related orgs
- $0
- Other
- $3,580
- Hours/week
- 4
-
Olga M Dobles BisbalOLGA M DOBLES BISBAL
DIRECTOR
- Total calculated
- $2,910
- From this org
- $0
- From related orgs
- $0
- Other
- $2,910
- Hours/week
- 4
-
Enrique MatiasENRIQUE MATIAS
President
- Total calculated
- $2,770
- From this org
- $0
- From related orgs
- $0
- Other
- $2,770
- Hours/week
- 4
-
Marta IrizarryMARTA IRIZARRY
SUBTREASURER
- Total calculated
- $2,740
- From this org
- $0
- From related orgs
- $0
- Other
- $2,740
- Hours/week
- 4
-
Nancy Rodriguez GonzalezNANCY RODRIGUEZ GONZALEZ
DIRECTOR
- Total calculated
- $1,640
- From this org
- $0
- From related orgs
- $0
- Other
- $1,640
- Hours/week
- 4
-
Raul A PlaRAUL A PLA
Vicepresident
- Total calculated
- $1,500
- From this org
- $0
- From related orgs
- $0
- Other
- $1,500
- Hours/week
- 4
-
Rafael Caro CaroRAFAEL CARO CARO
DIRECTOR
- Total calculated
- $720
- From this org
- $0
- From related orgs
- $0
- Other
- $720
- Hours/week
- 4
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
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202343199349325919
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