Form 990 for tax year 2023
Filed by COOPERATIVE AHORRO Y CREDITO DE AGUADILLA.
Totals
- Total revenue
- $8,169,219
- Total expenses
- $7,305,724
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $6,758,669
- Other revenue
- $1,410,550
- Total assets, end of year
- $148,392,243
- Total liabilities, end of year
- $131,072,990
- Net assets or fund balances, end of year
- $17,319,253
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $7,305,724
- 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 $6,207,495 · related or exempt $6,207,495 · unrelated business $0 · excluded $0
-
4 · Income from investment of tax-exempt bond proceeds
total $551,174 · related or exempt $551,174 · 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: RENT REVENUE
total $160,409 · related or exempt $160,409 · unrelated business $0 · excluded $0
-
11b · Other revenue: MEMBER FEES
total $1,250,141 · related or exempt $1,250,141 · unrelated business $0 · excluded $0
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$1,410,550
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $172,030 · management and general $172,030
-
7 · Other salaries and wages
total $1,248,991 · management and general $1,248,991
-
8 · Pension plan contributions
total $71,271 · management and general $71,271
-
9 · Other employee benefits
total $290,003 · management and general $290,003
-
10 · Payroll taxes
total $122,282 · management and general $122,282
-
11b · Fees: legal
total $61,268 · management and general $61,268
-
11c · Fees: accounting
total $17,500 · management and general $17,500
-
11g · Fees: other
total $184,058 · management and general $184,058
-
12 · Advertising and promotion
total $62,193 · management and general $62,193
-
13 · Office expenses
total $53,239 · management and general $53,239
-
14 · Information technology
total $143,282 · management and general $143,282
-
19 · Conferences, conventions and meetings
total $36,490 · management and general $36,490
-
20 · Interest
total $2,155,776 · management and general $2,155,776
-
22 · Depreciation, depletion and amortization
total $198,958 · management and general $198,958
-
23 · Insurance
total $573,052 · management and general $573,052
-
24a · Other expenses: LOSSES PR BONDS LAW 220
total $870,180 · program services $0 · management and general $870,180 · fundraising $0
-
24b · Other expenses: PROVISION FOR LOAN LOSSES
total $318,971 · program services $0 · management and general $318,971 · fundraising $0
-
24c · Other expenses: BANK CHARGES
total $280,879 · program services $0 · management and general $280,879 · fundraising $0
-
24d · Other expenses: MAINTENANCE AND REPAIRS
total $224,531 · program services $0 · management and general $224,531 · fundraising $0
-
24e · All other expenses
total $220,770 · program services $0 · management and general $220,770 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $13,008,208 · end of year $21,022,503
-
4 · Accounts receivable
beginning of year $763,452 · end of year $1,105,763
-
7 · Other notes and loans receivable
beginning of year $88,733,627 · end of year $100,849,629
-
9 · Prepaid expenses and deferred charges
beginning of year $104,324 · end of year $172,092
-
10a · Land, buildings and equipment: cost or other basis
$17,281,066
-
10b · Land, buildings and equipment: accumulated depreciation
$5,092,044
-
10c · Land, buildings and equipment, net
beginning of year $12,584,264 · end of year $12,189,022
-
11 · Investments: publicly traded securities
beginning of year $8,156,101
-
12 · Investments: other securities
beginning of year $5,073,232 · end of year $5,309,534
-
15 · Other assets
beginning of year $8,757,378 · end of year $7,743,700
-
17 · Accounts payable and accrued expenses
beginning of year $1,850,502 · end of year $4,617,734
-
23 · Secured mortgages and notes payable
beginning of year $7,892,903 · end of year $9,217,755
-
25 · Other liabilities
beginning of year $111,119,616 · end of year $117,237,501
-
29 · Capital stock, trust principal or current funds
beginning of year $13,337,638 · end of year $13,558,010
-
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 $2,979,927 · end of year $3,761,243
Mission and programs · 2023
Mission
LOCAL CREDIT UNION, SAVINGS AND LOAN FOR MEMBERS. THESE ENTITIES ARE EXEMPT FROM INCOME TAXES, MUNICIPAL LICENSES AND PROPERTY TAX UNDER THE STATE LAW APPLIED TO COOPERATIVES. THESE ENTITIES DO NOT RECEIVE ANY FEDERAL OR STATE GRANT, NEITHER DONATIONS. THE MAIN ACTIVITY IS TO PROVIDE LOANS AND TO OFFER DIFFERENT SAVINGS ACCOUNTS.
Activities or mission (Part I)
THE ORGANIZATION IS A CREDIT UNION THAT PROVIDED SERVICES OF SAVINGS ACCOUNTS AND LOANS TO MEMBER AND NON MEMBERS.
-
LOCAL CREDIT UNION, SAVINGS AND LOAN FOR MEMBERS. THESE ENTITIES ARE EXEMPT FROM INCOME TAXES, MUNICIPAL LICENSES AND PROPERTY TAX UNDER THE STATE LAW APPLIED TO COOPERATIVES. THESE ENTITIES DO NOT RECEIVE ANY FEDERAL OR STATE GRANT, NEITHER DONATIONS. THE MAIN ACTIVITY IS TO PROVIDE LOANS AND TO OFFER DIFFERENT SAVINGS ACCOUNTS.
As filed on the 2023 return.
Listed in Part VII
-
Carlos Camacho
Executive President
- Total calculated
- $127,415
- From this org
- $127,415
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Sandra Laracuente
Gerente Operaciones
- Total calculated
- $44,615
- From this org
- $44,615
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Raul Velez
President
- Total calculated
- $0
- Hours/week
- 4
-
Carmen S Pagan
Vicepresident
- Total calculated
- $0
- Hours/week
- 4
-
Fe Hurtado
Secretary
- Total calculated
- $0
- Hours/week
- 4
-
Henry Falu
Treasurer
- Total calculated
- $0
- Hours/week
- 4
-
Agustin Soto
Director
- Total calculated
- $0
- Hours/week
- 4
-
Luz Rosaly
Director
- Total calculated
- $0
- Hours/week
- 4
-
Heriberto Muriel
Treasurer
- Total calculated
- $0
- 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.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
Borinquen Town Corp
Rent · PR
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 November 2024
- IRS schema version
- 2023v5.0
- Source object
- 202443209349326049
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