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Nonprofiteer
← COOPERATIVA DE CREDITO CABO ROJO

Form 990 for tax year 2024

Filed by COOPERATIVA DE CREDITO CABO ROJO.

Totals

Total revenue
$22,162,963
Total expenses
$18,679,007
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$19,490,762
Other revenue
$2,672,201
Total assets, end of year
$342,901,686
Total liabilities, end of year
$255,127,855
Net assets or fund balances, end of year
$87,773,831
Program services expenses (Part IX)
$0
Management and general expenses
$18,679,007
Fundraising expenses
$0
Program service expenses (Part III)
$18,679,007

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)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue

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

  • 2b · Program service revenue

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

  • 2c · Program service revenue

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

  • 2d · Program service revenue

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

  • 2e · Program service revenue

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

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $19,490,762 · related or exempt $0 · 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

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

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

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

  • 7b · Less cost or other basis and sales expenses

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

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

  • 8a · Fundraising events: gross income

    $0

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

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

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

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

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

  • 11a · Other revenue

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

  • 11b · Other revenue

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

  • 11c · Other revenue

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

  • 11d · All other revenue

    total $2,672,201 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $2,672,201

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $806,850 · program services $0 · management and general $806,850 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $4,659,327 · program services $0 · management and general $4,659,327 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $659,392 · program services $0 · management and general $659,392 · fundraising $0

  • 12 · Advertising and promotion

    total $417,918 · program services $0 · management and general $417,918 · fundraising $0

  • 13 · Office expenses

    total $129,065 · program services $0 · management and general $129,065 · fundraising $0

  • 14 · Information technology

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $196,574 · program services $0 · management and general $196,574 · fundraising $0

  • 17 · Travel

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $67,885 · program services $0 · management and general $67,885 · fundraising $0

  • 20 · Interest

    total $3,018,235 · program services $0 · management and general $3,018,235 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $764,591 · program services $0 · management and general $764,591 · fundraising $0

  • 23 · Insurance

    total $1,447,125 · program services $0 · management and general $1,447,125 · fundraising $0

  • 24a · Other expenses: Provision for loans

    total $1,959,268 · program services $0 · management and general $1,959,268 · fundraising $0

  • 24b · Other expenses: Goodwill amortization

    total $355,224 · program services $0 · management and general $355,224 · fundraising $0

  • 24c · Other expenses: ATH and Master Card Handling expenses

    total $1,317,486 · program services $0 · management and general $1,317,486 · fundraising $0

  • 24d · Other expenses: Repairs

    total $1,142,061 · program services $0 · management and general $1,142,061 · fundraising $0

  • 24e · All other expenses

    total $1,738,006 · program services $0 · management and general $1,738,006 · fundraising $0

  • 26 · Joint costs (an allocation of the lines above)

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $17,041,265 · end of year $16,036,669

  • 2 · Savings and temporary cash investments

    beginning of year $20,051,676 · end of year $18,795,656

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $1,973,395 · end of year $1,361,059

  • 5 · Loans and receivables from officers and key people

    beginning of year $2,547,499 · end of year $2,538,068

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $214,649,042 · end of year $233,481,092

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,182,110 · end of year $1,401,154

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

    $18,982,423

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

    $9,392,442

  • 10c · Land, buildings and equipment, net

    beginning of year $10,042,475 · end of year $9,589,981

  • 11 · Investments: publicly traded securities

    beginning of year $41,983,703 · end of year $44,153,592

  • 12 · Investments: other securities

    beginning of year $11,082,713 · end of year $11,612,003

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $5,438,786 · end of year $3,932,412

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,944,080 · end of year $3,534,240

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $237,778,734 · end of year $251,593,615

  • 29 · Capital stock, trust principal or current funds

    beginning of year $62,268,434 · end of year $62,915,441

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

    beginning of year $20,751,416 · end of year $23,358,390

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,250,000 · end of year $1,500,000

Mission and programs · 2024

Mission

A non profit organization engaged primarily to received savings from its members in the form of shares and deposits.

  • The credit union keeps providing financial services to its members and to the community. The credit union is providing financing options to the members that need it.

    Expenses $18,679,007

As filed on the 2024 return.

Listed in Part VII

  • Kerwin Morales Rivera

    Executive president

    Total calculated
    $236,000
    From this org
    $200,000
    From related orgs
    $0
    Other
    $36,000
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $200,000
    Bonus
    $36,000
    Other
    $0
    Deferred
    $12,519
    Nontaxable benefits
    $21,400
    Filer's total
    $269,919

  • Jorge I Ferrer Lopez

    VP of finance

    Total calculated
    $120,434
    From this org
    $120,434
    From related orgs
    $0
    Other
    $0
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $120,434
    Bonus
    $0
    Other
    $0
    Deferred
    $7,544
    Nontaxable benefits
    $6,600
    Filer's total
    $134,578

  • Hector L Torres Cardona

    VP of credit

    Total calculated
    $55,582
    From this org
    $55,582
    From related orgs
    $0
    Other
    $0
    Hours/week
    60

  • Mayra Figueroa Lopez

    Software system manager

    Total calculated
    $114,096
    From this org
    $114,096
    From related orgs
    $0
    Other
    $0
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $114,086
    Bonus
    $0
    Other
    $0
    Deferred
    $7,150
    Nontaxable benefits
    $6,600
    Filer's total
    $127,836

  • Victor Mendez Zapata

    VP of Risk and Compliance

    Total calculated
    $103,906
    From this org
    $103,906
    From related orgs
    $0
    Other
    $0
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $103,906
    Bonus
    $0
    Other
    $0
    Deferred
    $6,521
    Nontaxable benefits
    $6,600
    Filer's total
    $117,027

  • Mariangely Cruz Aquino

    VP of Operations

    Total calculated
    $107,945
    From this org
    $107,945
    From related orgs
    $0
    Other
    $0
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $107,945
    Bonus
    $0
    Other
    $0
    Deferred
    $6,683
    Nontaxable benefits
    $6,600
    Filer's total
    $121,228

  • Nancy Ferrer Padilla

    VP of Human Resources

    Total calculated
    $104,887
    From this org
    $104,887
    From related orgs
    $0
    Other
    $0
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $104,887
    Bonus
    $0
    Other
    $0
    Deferred
    $6,571
    Nontaxable benefits
    $6,600
    Filer's total
    $118,058

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

  • 2 · Substantiation required before reimbursing expenses

Answered no

  • 1b · Written policy on the line-1a expenses
  • 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
2024
Filed
17 June 2025
IRS schema version
2024v5.1
Source object
202501689349300800

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