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Nonprofiteer
← COOPERATIVA DE AHORRO Y CREDITO ORIENTAL

Form 990 for tax year 2023

Filed by COOPERATIVA DE AHORRO Y CREDITO ORIENTAL.

Totals

Total revenue
$30,373,984
Total expenses
$25,096,010
Contributions and grants received
$3,000,000
Grants paid
$0
Program service revenue
$0
Investment income
$18,665,604
Other revenue
$8,708,380
Total assets, end of year
$436,924,696
Total liabilities, end of year
$319,481,644
Net assets or fund balances, end of year
$117,443,052
Program services expenses (Part IX)
$0
Management and general expenses
$25,096,010
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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $3,000,000

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $18,665,604 · related or exempt $18,665,604 · 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

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11d · All other revenue

    total $8,708,380 · related or exempt $8,708,380 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $8,708,380

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $697,360 · management and general $697,360

  • 7 · Other salaries and wages

    total $4,333,129 · management and general $4,333,129

  • 8 · Pension plan contributions

    total $215,787 · management and general $215,787

  • 9 · Other employee benefits

    total $210,821 · management and general $210,821

  • 10 · Payroll taxes

    total $476,201 · management and general $476,201

  • 11g · Fees: other

    total $655,628 · management and general $655,628

  • 12 · Advertising and promotion

    total $722,350 · management and general $722,350

  • 13 · Office expenses

    total $345,808 · management and general $345,808

  • 16 · Occupancy

    total $166,600 · management and general $166,600

  • 17 · Travel

    total $52,743 · management and general $52,743

  • 19 · Conferences, conventions and meetings

    total $37,419 · management and general $37,419

  • 20 · Interest

    total $4,674,167 · management and general $4,674,167

  • 22 · Depreciation, depletion and amortization

    total $1,205,328 · management and general $1,205,328

  • 23 · Insurance

    total $1,208,027 · management and general $1,208,027

  • 24a · Other expenses: MAINTENANCE OF ATH, M/C, VISA

    total $3,453,616 · program services $0 · management and general $3,453,616 · fundraising $0

  • 24b · Other expenses: BAD DEBT EXPENSES

    total $852,000 · program services $0 · management and general $852,000 · fundraising $0

  • 24c · Other expenses: LOSS UNDER ESPECIAL AMORTIZATION

    total $1,548,662 · program services $0 · management and general $1,548,662 · fundraising $0

  • 24d · Other expenses: REPAIRS AND MAINTENANCE

    total $711,606 · program services $0 · management and general $711,606 · fundraising $0

  • 24e · All other expenses

    total $3,528,758 · program services $0 · management and general $3,528,758 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,758,313 · end of year $22,989,176

  • 2 · Savings and temporary cash investments

    beginning of year $1,250,000 · end of year $2,000,000

  • 6 · Loans and receivables from disqualified persons

    beginning of year $269,632 · end of year $758,608

  • 7 · Other notes and loans receivable

    beginning of year $242,553,854 · end of year $252,044,607

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

    $28,234,984

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

    $13,928,512

  • 10c · Land, buildings and equipment, net

    beginning of year $15,224,201 · end of year $14,306,472

  • 12 · Investments: other securities

    beginning of year $127,087,516 · end of year $116,734,384

  • 13 · Investments: program-related

    beginning of year $7,865,298 · end of year $8,275,759

  • 15 · Other assets

    beginning of year $21,291,259 · end of year $19,815,690

  • 17 · Accounts payable and accrued expenses

    beginning of year $22,842,833 · end of year $11,548,804

  • 25 · Other liabilities

    beginning of year $271,015,758 · end of year $307,932,840

  • 29 · Capital stock, trust principal or current funds

    beginning of year $120,150,953 · end of year $99,686,389

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

    beginning of year $14,294,081 · end of year $16,179,332

  • 31 · Retained earnings, endowment or other funds

    beginning of year $996,448 · end of year $1,577,331

Mission and programs · 2023

Mission

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

Activities or mission (Part I)

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

  • INTEREST INCOME AND OTHER INCOME OF $30,373,984 AND TOTAL EXPENSES OF $25,096,010.

As filed on the 2023 return.

Listed in Part VII

  • Amaryllis Ayala Hernaiz

    VP OPERATION

    Total calculated
    $285,345
    From this org
    $285,345
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

  • William Mendez Pagan

    EXECUTIVE PRESIDENTE

    Total calculated
    $249,785
    From this org
    $249,785
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $249,785
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $249,785

  • Idelfonso Rodriguez Rivera

    VP FINANCE

    Total calculated
    $115,275
    From this org
    $115,275
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $285,345
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $285,345

  • Mayra Medina Rivera

    VP OF CREDIT

    Total calculated
    $46,955
    From this org
    $46,955
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

  • Israel Quinonez Diaz

    PRESIDENT OF BOARD

    Total calculated
    $0
    Hours/week
    10

  • Wanda G Diaz Diaz

    VP OF BOARD

    Total calculated
    $0
    Hours/week
    10

  • Alma M Tirado Pena

    SECRETARY

    Total calculated
    $0
    Hours/week
    10

  • Jaime Ruiz Aguirre

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Francisca Alicea Santa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Juan Merced Mateo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Isabel Velazquez Pena

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Felix Baez Neriz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Pedro Cintron Hernandez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
10 July 2024
IRS schema version
2023v5.0
Source object
202422419349301567

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