Overview
What is Cooperative De Ahorro Y Credito De Lare?
Cooperative De Ahorro Y Credito De Lare is a non-profit organization based on saving funds from its members through share and deposit contributions. Operating as a savings and credit union, the cooperative generates income, mainly from interest and various programs, amounting to approximately $13 million annually. Maintaining fiscal responsibility, they keep their total expenses below $8.5 million. The organization's primary focus is on collecting savings from its membership base.
Official website here: www.larcoop.com
Is Cooperative De Ahorro Y Credito De Lare legitimate?
Cooperative De Ahorro Y Credito De Lare is a legitimate nonprofit organization registered as a 501(c)(14) entity. Cooperative De Ahorro Y Credito De Lare 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: $688,085
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,774,926
For more financial information, click here
Official website here: www.larcoop.com
What is the mission statement of Cooperative De Ahorro Y Credito De Lare?
Cooperativa de Ahorro Y Credito de Lares is a non-profit organization that primarily focuses on collecting savings from its members through shares and deposits. Functioning as a savings and credit union, it generates a substantial income, which includes interest income and other earnings, amounting to over twelve million dollars. Despite this income, the organization manages to keep its total expenses below eight million dollars. Its primary mission is to provide a platform for its members to save and access financial services.
Official website here: www.larcoop.com
Who is the CEO of Cooperative De Ahorro Y Credito De Lare?
Carlos De Jesus is the President of Cooperative De Ahorro Y Credito De Lare.
Official website here: www.larcoop.com
What is the revenue of Cooperative De Ahorro Y Credito De Lare?
Cooperative De Ahorro Y Credito De Lare's revenue in 2022 was $12,301,363.
Official website here: www.larcoop.com
Who are the executives of Cooperative De Ahorro Y Credito De Lare and what are their salaries?
The average compensation at Cooperative De Ahorro Y Credito De Lare during 2022 was $32,840. There are 75 employees at Cooperative De Ahorro Y Credito De Lare.
Here are 10 key members and their salaries:
- Compensation: $142,295
- Related: $0
- Other: $0
- Compensation: $73,293
- Related: $0
- Other: $0
- Compensation: $69,526
- Related: $0
- Other: $0
- Compensation: $66,490
- Related: $0
- Other: $0
- Compensation: $63,965
- Related: $0
- Other: $0
- Compensation: $61,372
- Related: $0
- Other: $0
- Compensation: $57,406
- Related: $0
- Other: $0
- Compensation: $54,324
- Related: $0
- Other: $0
- Compensation: $51,384
- Related: $0
- Other: $0
- Compensation: $48,030
- Related: $0
- Other: $0
Official website here: www.larcoop.com
Where can I find the form 990 for Cooperative De Ahorro Y Credito De Lare?
Cooperative De Ahorro Y Credito De Lare's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.larcoop.com
Learn more at the official website: www.larcoop.com
Mission Statement of Cooperative De Ahorro Y Credito De Lare
Cooperative De Ahorro Y Credito De Lare, a non-profit organization, is committed to collecting savings from its members through shares and deposits. This savings and credit union runs various programs that yield interest income and other earnings, totaling over twelve million dollars. Despite incurring expenses amounting to eight million four hundred thirty thousand dollars, the organization manages to maintain a substantial financial balance.
At its core, Cooperative De Ahorro Y Credito De Lare functions as a savings and credit union, with a primary focus on gathering savings from its members. The organization's diverse revenue streams generate a yearly income of twelve million nine hundred ninety-three thousand six hundred seventy-two dollars. This impressive financial balance is achieved while keeping total expenses at a manageable eight million four hundred thirty thousand four hundred ninety-nine dollars.
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Impact
October, 2024
Cooperative De Ahorro Y Credito De Lare plays a significant role in the local economy by offering financial services that empower its members in Lares, Puerto Rico. By focusing on receiving savings from its members through shares and deposits, it creates a robust environment for financial growth and stability.
The cooperative generates substantial interest income and additional revenue totaling $12,993,672, which indicates its successful programs and efficient management. By maintaining total expenses at $8,430,499, it demonstrates a commitment to sustaining operations while maximizing benefits for its members.
Through its savings and credit services, Cooperative De Ahorro Y Credito De Lare enhances financial inclusion and provides its members with access to credit, enabling them to pursue personal and entrepreneurial goals. This access to financial resources fosters economic development within the community, empowering individuals and families to improve their quality of life and contribute positively to the local economy.
This information is meant to be a general summary of Cooperative De Ahorro Y Credito De Lare. 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: $9,782,263
- Gross Receipts: $12,301,363
Assets and Liabilities:
- Total Assets: $209,138,285
- Total Liabilities: $156,690,447
- Net Assets: $52,447,838
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Organization Details
Founding Year
1949
Phone
(787) 897-2220Principal Officer
Carlos De Jesus
Main Address
PO Box 362, LARES, PR, 006692505
Website
www.larcoop.comNTEE Category
Code: W60 - Public benefit
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