Overview
What is Cooperativa Ahorro Y Credito De Aguadilla?
Cooperativa Ahorro Y Credito De Aguadilla is a local credit union based in Aguadilla, Puerto Rico. The organization, exempt from income taxes, municipal licenses, and property tax under Puerto Rican law, primarily focuses on providing loans and various savings accounts to both its members and non-members. It operates under the guidelines set for cooperatives, without receiving any federal or state grants or donations. This community-centric entity aims to offer financial support and services to its members, playing a crucial role in the financial well-being of its community.
Is Cooperativa Ahorro Y Credito De Aguadilla legitimate?
Cooperativa Ahorro Y Credito De Aguadilla is a legitimate nonprofit organization registered as a 501(c)(14) entity. Cooperativa Ahorro Y Credito De Aguadilla 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: $98,620
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,182,671
For more financial information, click here
What is the mission statement of Cooperativa Ahorro Y Credito De Aguadilla?
Cooperativa Ahorro Y Credito De Aguadilla, as a local credit union, is primarily focused on providing loan services and various savings accounts to both its members and non-members. Exempt from certain taxes and licenses under the state law applicable to cooperatives, this financial institution does not rely on federal or state grants or donations for its operations. The main objective of Cooperativa Ahorro Y Credito De Aguadilla is to offer financial aid through loans and a variety of savings account options to its clientele.
Who is the CEO of Cooperativa Ahorro Y Credito De Aguadilla?
Sandra Laracuente is the Executive President of Cooperativa Ahorro Y Credito De Aguadilla.
What is the revenue of Cooperativa Ahorro Y Credito De Aguadilla?
Cooperativa Ahorro Y Credito De Aguadilla's revenue in 2022 was $6,511,561.
Who are the executives of Cooperativa Ahorro Y Credito De Aguadilla and what are their salaries?
The average compensation at Cooperativa Ahorro Y Credito De Aguadilla during 2022 was $29,120. There are 44 employees and 9 volunteers at Cooperativa Ahorro Y Credito De Aguadilla.
Here are 9 key members and their salaries:
- Compensation: $60,320
- Related: $0
- Other: $0
- Compensation: $38,300
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Cooperativa Ahorro Y Credito De Aguadilla?
Cooperativa Ahorro Y Credito De Aguadilla's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Cooperativa Ahorro Y Credito De Aguadilla
Cooperativa Ahorro y Credito de Aguadilla is a local credit union that serves both its members and non-members. Its primary mission is to offer savings accounts and provide loans. As a cooperative, it enjoys certain tax exemptions under state law, making it exempt from income taxes, municipal licenses, and property taxes. It does not rely on federal or state grants or donations for its operations. Instead, its main activity revolves around offering various savings accounts and providing loans to its constituents. This credit union operates independently, relying solely on its own resources to serve its community.
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Impact
October, 2024
Cooperativa Ahorro Y Credito De Aguadilla plays a significant role in its community by providing essential financial services, including savings accounts and loans. It serves both members and non-members, fostering financial inclusion and enabling individuals to achieve their financial goals. By offering a range of savings options, the credit union encourages healthy financial habits and savings culture among its clients.
The organization contributes to local economic stability by facilitating access to credit, which can empower individuals to invest in opportunities such as education, housing, and small businesses. As a local credit union, it helps to stimulate the local economy by keeping financial resources within the community and supporting individual financial growth.
Additionally, its status under state law provides certain tax exemptions, allowing more funds to be directed towards member services rather than tax obligations. This positions the credit union to directly benefit its members through competitive interest rates and lower fees, enhancing overall community welfare. In essence, Cooperativa Ahorro Y Credito De Aguadilla is instrumental in promoting economic well-being and financial empowerment within the community.
This information is meant to be a general summary of Cooperativa Ahorro Y Credito De Aguadilla. 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: $5,404,921
- Gross Receipts: $6,511,561
Assets and Liabilities:
- Total Assets: $137,180,586
- Total Liabilities: $120,863,021
- Net Assets: $16,317,565
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Organization Details
Founding Year
1948
Phone
(787) 891-1755Principal Officer
Sandra Laracuente
NTEE Category
Code: W60 - Public benefit
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