Form 990 for tax year 2024
Filed by COOPERATIVA DE AHORRO Y CREDITO ORIENTAL.
Totals
- Total revenue
- $29,776,281
- Total expenses
- $27,688,353
- Contributions and grants received
- $718,258
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $20,487,713
- Other revenue
- $8,570,310
- Total assets, end of year
- $433,518,632
- Total liabilities, end of year
- $324,960,012
- Net assets or fund balances, end of year
- $108,558,620
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $27,688,353
- 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)
$718,258
-
1f · All other contributions, gifts and grants
$0
-
1g · Noncash contributions included above
$0
-
3 · Investment income
total $20,487,713 · related or exempt $20,487,713 · 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
-
11a · Other revenue: ATM network, ponints of sale and electronic transactions income
total $3,290,029 · related or exempt $3,290,029 · unrelated business $0 · excluded $0
-
11b · Other revenue: Use of Special Temporary Reserve
total $2,145,163 · related or exempt $2,145,163 · unrelated business $0 · excluded $0
-
11c · Other revenue: MasterCard Credit card management income
total $680,543 · related or exempt $680,543 · unrelated business $0 · excluded $0
-
11d · All other revenue
total $2,454,575 · related or exempt $2,454,575 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$8,570,310
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $795,862 · management and general $795,862
-
7 · Other salaries and wages
total $4,594,526 · management and general $4,594,526
-
8 · Pension plan contributions
total $242,486 · management and general $242,486
-
9 · Other employee benefits
total $331,080 · management and general $331,080
-
10 · Payroll taxes
total $500,121 · management and general $500,121
-
11g · Fees: other
total $467,774 · management and general $467,774
-
12 · Advertising and promotion
total $579,167 · management and general $579,167
-
13 · Office expenses
total $353,199 · management and general $353,199
-
16 · Occupancy
total $139,800 · management and general $139,800
-
17 · Travel
total $51,536 · management and general $51,536
-
19 · Conferences, conventions and meetings
total $60,000 · management and general $60,000
-
20 · Interest
total $6,247,095 · management and general $6,247,095
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $1,118,107 · management and general $1,118,107
-
23 · Insurance
total $1,514,526 · management and general $1,514,526
-
24a · Other expenses: Programming and mecanization
total $1,113,664 · program services $0 · management and general $1,113,664
-
24b · Other expenses: Repairs and maintenance
total $749,594 · program services $0 · management and general $749,594
-
24c · Other expenses: Provision for credit losses
total $1,156,506 · program services $0 · management and general $1,156,506
-
24d · Other expenses: Credit card, ATM network and sales points Management expenses
total $3,622,078 · program services $0 · management and general $3,622,078
-
24e · All other expenses
total $4,051,232 · management and general $4,051,232
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $22,989,176 · end of year $17,673,942
-
2 · Savings and temporary cash investments
beginning of year $2,000,000 · end of year $1,500,000
-
6 · Loans and receivables from disqualified persons
beginning of year $758,608 · end of year $644,451
-
7 · Other notes and loans receivable
beginning of year $252,044,607 · end of year $263,719,266
-
10a · Land, buildings and equipment: cost or other basis
$32,314,537
-
10b · Land, buildings and equipment: accumulated depreciation
$14,965,160
-
10c · Land, buildings and equipment, net
beginning of year $14,306,472 · end of year $17,349,377
-
11 · Investments: publicly traded securities
beginning of year $116,734,384 · end of year $109,318,543
-
13 · Investments: program-related
beginning of year $8,275,759 · end of year $8,631,583
-
15 · Other assets
beginning of year $19,815,690 · end of year $14,681,470
-
17 · Accounts payable and accrued expenses
beginning of year $11,548,804 · end of year $8,655,119
-
25 · Other liabilities
beginning of year $307,932,840 · end of year $316,304,893
-
29 · Capital stock, trust principal or current funds
beginning of year $99,686,389 · end of year $91,221,835
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $16,179,332 · end of year $16,406,636
-
31 · Retained earnings, endowment or other funds
beginning of year $1,577,331 · end of year $930,149
Mission and programs · 2024
Mission
TO PROVIDE FINANCIAL SERVICES SUCH AS LOANS, SAVINGS AND ACCOUNTS MAINLY TO LOW-INCOME SECTOR OF PEOPLE IN PUERTO RICO. ALSO, THE CREDIT UNION HAS A SOCIAL RESPONSIBILITY TOWARDS THE COMMUNITY.
-
INTEREST INCOME AND OTHER INCOME OF $29,776,281, WHICH INCLUDES $718,258 FROM FEDERAL FUNDS TO CDFI. TOTAL EXPENSES OF $27,688,353.
As filed on the 2024 return.
Listed in Part VII
-
Idelfonso Rodriguez RiveraIDELFONSO RODRIGUEZ RIVERA
VP FINANCE
- Total calculated
- $302,610
- From this org
- $286,110
- From related orgs
- $0
- Other
- $16,500
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $286,110
- Bonus
- $0
- Other
- $0
- Deferred
- $16,500
- Nontaxable benefits
- $0
- Filer's total
- $302,610
-
William Mendez PaganWILLIAM MENDEZ PAGAN
EXECUTIVE PRESIDENTE
- Total calculated
- $294,021
- From this org
- $283,405
- From related orgs
- $0
- Other
- $10,616
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $283,405
- Bonus
- $0
- Other
- $0
- Deferred
- $10,616
- Nontaxable benefits
- $0
- Filer's total
- $294,021
-
Amaryllis Ayala HernaizAMARYLLIS AYALA HERNAIZ
VP OPERATION
- Total calculated
- $131,126
- From this org
- $121,075
- From related orgs
- $0
- Other
- $10,051
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $121,075
- Bonus
- $0
- Other
- $0
- Deferred
- $10,051
- Nontaxable benefits
- $0
- Filer's total
- $131,126
-
Mayra Medina RiveraMAYRA MEDINA RIVERA
VP OF CREDIT
- Total calculated
- $114,100
- From this org
- $105,272
- From related orgs
- $0
- Other
- $8,828
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $105,272
- Bonus
- $0
- Other
- $0
- Deferred
- $8,828
- Nontaxable benefits
- $0
- Filer's total
- $114,100
-
Israel Quinonez DiazISRAEL QUINONEZ DIAZ
PRESIDENT OF BOARD
- Total calculated
- $0
- Hours/week
- 10
-
Wanda G Diaz DiazWANDA G DIAZ DIAZ
VP OF BOARD
- Total calculated
- $0
- Hours/week
- 10
-
Alma M Tirado PenaALMA M TIRADO PENA
SECRETARY
- Total calculated
- $0
- Hours/week
- 10
-
Jaime Ruiz AguirreJAIME RUIZ AGUIRRE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 10
-
Francisco Moroles BurgosFRANCISCO MOROLES BURGOS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 10
-
Juan Merced MateoJUAN MERCED MATEO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 10
-
Isabel Velazquez PenaISABEL VELAZQUEZ PENA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 10
-
Felix Baez NerizFELIX BAEZ NERIZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 10
-
Pedro Cintron HernandezPEDRO 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
- 2024
- Filed
- 7 July 2025
- IRS schema version
- 2024v5.0
- Source object
- 202531999349301658
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