Overview
What is Cooperativa De Ahorro Y Credito De Arecibo?
Cooperativa De Ahorro Y Credito De Arecibo is a non-profit credit union based on receiving savings from its members through shares and deposits. With an income of $37 million and controlled expenses of $32 million, the credit union has achieved a substantial profit of over $5 million. Members can avail of savings and deposits services from this organization.
Official website here: www.coopaca.com
Is Cooperativa De Ahorro Y Credito De Arecibo legitimate?
Cooperativa De Ahorro Y Credito De Arecibo is a legitimate nonprofit organization registered as a 501(c)(14) entity. Cooperativa De Ahorro Y Credito De Arecibo submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $463,874
Professional Fundraising Fees: $0
Other Salaries and Wages: $7,979,110
For more financial information, click here
Official website here: www.coopaca.com
What is the mission statement of Cooperativa De Ahorro Y Credito De Arecibo?
Cooperativa De Ahorro Y Credito, a non-profit organization, predominantly acquires savings from its members through share and deposit contributions. The primary focus of this institution is to operate as a cooperative, generating an income of over $37 million while keeping expenses under $32 million, resulting in a substantial surplus. Beyond financial services, this cooperative offers savings and deposits solutions to its member base.
Official website here: www.coopaca.com
Who is the CEO of Cooperativa De Ahorro Y Credito De Arecibo?
Luis Gerena is the Executive President of Cooperativa De Ahorro Y Credito De Arecibo.
Official website here: www.coopaca.com
What is the revenue of Cooperativa De Ahorro Y Credito De Arecibo?
Cooperativa De Ahorro Y Credito De Arecibo's revenue in 2022 was $44,038,603.
Official website here: www.coopaca.com
Who are the executives of Cooperativa De Ahorro Y Credito De Arecibo and what are their salaries?
The average compensation at Cooperativa De Ahorro Y Credito De Arecibo during 2022 was $28,524. There are 296 employees at Cooperativa De Ahorro Y Credito De Arecibo.
Here are 4 key members and their salaries:
- Compensation: $227,942
- Related: $0
- Other: $0
- Compensation: $89,797
- Related: $4,020
- Other: $0
- Compensation: $77,671
- Related: $4,830
- Other: $0
- Compensation: $68,465
- Related: $8,578
- Other: $0
Official website here: www.coopaca.com
Where can I find the form 990 for Cooperativa De Ahorro Y Credito De Arecibo?
Cooperativa De Ahorro Y Credito De Arecibo's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.coopaca.com
Learn more at the official website: www.coopaca.com
Mission Statement of Cooperativa De Ahorro Y Credito De Arecibo
Cooperativa De Ahorro Y Credito De Arecibo, a non-profit organization, is primarily known for receiving savings from its members in the form of shares and deposits. This financial cooperative operates with a mission to generate income and provide essential savings and deposits services for its members. With an impressive revenue of $37,267,661 and total expenses of $32,183,531, Cooperativa De Ahorro Y Credito De Arecibo manages to yield a significant surplus of over $5 million.
Functioning as a savings and loans association, Cooperativa De Ahorro Y Credito De Arecibo offers its members a safe and reliable platform to save and grow their funds. By encouraging financial savings, the cooperative empowers its members to secure their financial future and build a better economic standing for themselves. Beyond simply offering savings and deposits services, the organization plays a vital role in fostering financial stability and independence for its members.
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Impact
October, 2024
Cooperativa De Ahorro Y Credito De Arecibo plays a significant role in its community by providing financial services centered on savings and deposits. With an income of $37,267,661 and expenses totaling $32,183,531, the organization has achieved a healthy surplus of $5,084,130. This financial stability enables it to offer its members valuable services, fostering a culture of savings and financial empowerment.
The cooperative not only supports its members' financial needs but also contributes to the overall economic well-being of Arecibo. By receiving savings in the form of shares and deposits, it helps individuals build security and access resources that can improve their quality of life. The cooperative’s focus on member-driven financial solutions encourages community participation and investment, reinforcing the local economy.
Moreover, the gain in excess of expenses illustrates a capacity for sustainability and growth, allowing Cooperativa De Ahorro Y Credito De Arecibo to continue expanding its services and maintaining favorable terms for its members. This reinforces the organization's commitment to serving its community effectively and responsibly. Overall, its impact is multifaceted, promoting financial literacy, stability, and a supportive network for its members.
This information is meant to be a general summary of Cooperativa De Ahorro Y Credito De Arecibo. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $32,541,331
- Gross Receipts: $44,038,603
Assets and Liabilities:
- Total Assets: $794,614,801
- Total Liabilities: $634,376,348
- Net Assets: $160,238,453
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Organization Details
Founding Year
1947
Phone
(787) 878-2095Principal Officer
Luis Gerena
Main Address
CALLE CAPITAN ABREU ESQUINA RUIZ GA, ARECIBO, PR, 00613
Website
www.coopaca.comIf you are a representative of Cooperativa De Ahorro Y Credito De Arecibo and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.