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Nonprofiteer
← COOPERATIVA DE AHORRO Y CREDITO MAUNABO

Form 990 for tax year 2024

Filed by COOPERATIVA DE AHORRO Y CREDITO MAUNABO.

Totals

Total revenue
$15,172,740
Total expenses
$9,611,849
Contributions and grants received
$718,258
Grants paid
$0
Program service revenue
$0
Investment income
$12,425,266
Other revenue
$2,029,216
Total assets, end of year
$238,450,251
Total liabilities, end of year
$152,874,848
Net assets or fund balances, end of year
$85,575,403
Program services expenses (Part IX)
$0
Management and general expenses
$9,611,849
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 $12,425,266 · related or exempt $12,425,266 · 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: SERVICE CHARGES

    total $1,474,649 · related or exempt $1,474,649 · unrelated business $0 · excluded $0

  • 11b · Other revenue: SERVICE COMMISSIONS

    total $205,536 · related or exempt $205,536 · unrelated business $0 · excluded $0

  • 11c · Other revenue: DIVIDENDS AND SPONSORSHIP

    total $161,554 · related or exempt $161,554 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $187,477 · related or exempt $187,477 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $2,029,216

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $746,756 · management and general $746,756

  • 7 · Other salaries and wages

    total $1,502,713 · management and general $1,502,713

  • 8 · Pension plan contributions

    total $87,106 · management and general $87,106

  • 9 · Other employee benefits

    total $240,628 · management and general $240,628

  • 10 · Payroll taxes

    total $218,141 · management and general $218,141

  • 11g · Fees: other

    total $355,383 · management and general $355,383

  • 12 · Advertising and promotion

    total $255,612 · management and general $255,612

  • 13 · Office expenses

    total $216,812 · management and general $216,812

  • 19 · Conferences, conventions and meetings

    total $75,000 · management and general $75,000

  • 20 · Interest

    total $345,021 · management and general $345,021

  • 22 · Depreciation, depletion and amortization

    total $778,946 · management and general $778,946

  • 23 · Insurance

    total $1,032,418 · management and general $1,032,418

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $1,707,105 · program services $0 · management and general $1,707,105 · fundraising $0

  • 24b · Other expenses: CREDIT CARD AND ELECTRONIC TRANSACTION MANAGEMENT EXPENSE

    total $558,242 · program services $0 · management and general $558,242 · fundraising $0

  • 24c · Other expenses: UTILITIES

    total $415,610 · program services $0 · management and general $415,610 · fundraising $0

  • 24d · Other expenses: PROVISION FOR CREDIT LOSSES

    total $191,130 · program services $0 · management and general $191,130 · fundraising $0

  • 24e · All other expenses

    total $885,226 · program services $0 · management and general $885,226

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $27,881,981 · end of year $47,544,991

  • 2 · Savings and temporary cash investments

    beginning of year $19,826,465 · end of year $5,527,309

  • 5 · Loans and receivables from officers and key people

    end of year $709,616

  • 7 · Other notes and loans receivable

    beginning of year $116,343,010 · end of year $125,954,676

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,362,789 · end of year $1,045,293

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

    $16,916,713

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

    $10,285,172

  • 10c · Land, buildings and equipment, net

    beginning of year $7,011,358 · end of year $6,631,541

  • 11 · Investments: publicly traded securities

    beginning of year $56,452,350 · end of year $44,439,569

  • 12 · Investments: other securities

    beginning of year $4,852,204 · end of year $4,594,416

  • 15 · Other assets

    beginning of year $1,888,009 · end of year $2,002,840

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,160,645 · end of year $1,787,096

  • 25 · Other liabilities

    beginning of year $152,134,318 · end of year $151,087,752

  • 29 · Capital stock, trust principal or current funds

    beginning of year $64,098,195 · end of year $63,554,775

  • 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 $17,225,008 · end of year $22,020,628

Mission and programs · 2024

Mission

TO PROVIDE ACCESSIBLE FINANCIAL SERVICES TO OUR MEMBERS AND CUSTOMERS IN ACCORDANCE WITH THE PHILOSOPHY OF THE COOPERATIVE MOVEMENT AND SOCIAL ECONOMY.

Activities or mission (Part I)

TO PROVIDE FINANCIAL SERVICES TO ITS MEMBERS AND CLIENTS FOLLOWING THE COOPERATIVE MOVEMENT PHILOSOPHY.

  • INTEREST INCOME AND OTHER INCOME OF $15,172,740 AND TOTAL EXPENSES OF $9,611,849

As filed on the 2024 return.

Listed in Part VII

  • Carlos A Crespo Ramos

    EXECUTIVE PRESIDENT

    Total calculated
    $189,967
    From this org
    $189,967
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,967
    Bonus
    $0
    Other
    $0
    Deferred
    $11,398
    Nontaxable benefits
    $0
    Filer's total
    $201,365

  • Doris Gomez Lugo

    CREDIT ANALYST

    Total calculated
    $88,670
    From this org
    $88,670
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Angel Rivera Ruiz

    FINANCE VICEPRESIDENT

    Total calculated
    $78,000
    From this org
    $78,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Noemi Sanchez Rodriguez

    QUALITY MANAGER

    Total calculated
    $58,178
    From this org
    $58,178
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Hector Melendez Rodriguez

    BRANCH MANAGER

    Total calculated
    $51,709
    From this org
    $51,709
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Lillian Defendini Ortiz

    BRANCH MANAGER

    Total calculated
    $44,283
    From this org
    $44,283
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Nery Valle Vega

    BRANCH MANAGER

    Total calculated
    $42,966
    From this org
    $42,966
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Merilyn Rivera Lebron

    BRANCH MANAGER

    Total calculated
    $42,037
    From this org
    $42,037
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Keila Sostre Lamb

    BRANCH MANAGER

    Total calculated
    $41,746
    From this org
    $41,746
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Nelly Cruz Torres

    BRANCH MANAGER

    Total calculated
    $37,877
    From this org
    $37,877
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Rebecca Gutierrez Peralta

    COLLECTION MANAGER

    Total calculated
    $36,712
    From this org
    $36,712
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Eddie C Lebron Rivera

    MARKETING PROMOTION AND EDUCATION OFFICER

    Total calculated
    $34,611
    From this org
    $34,611
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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

  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

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
11 June 2025
IRS schema version
2024v5.0
Source object
202541999349301659

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