Overview
What is Cooperativa De Ahorro Y Credito De Rincon?
Cooperativa De Ahorro Y Credito De Rincon, a nonprofit organization based in Rincon, Puerto Rico, obtained savings deposits from its members as shares and financing sources, adhering to the cooperative movement philosophy. With approximately 30,000 members, this tax-exempt institution serves its community by providing interest and insurance benefits. The organization, with a workforce of 87 employees, aims to save and finance in accordance with cooperative principles.
Official website here: www.cooprincon.com
What are the reviews and ratings of this charity?
The Cooperativa De Ahorro Y Credito De Rincon is not currently rated by Charity Navigator, as it does not meet the criteria for evaluation, mainly because it is not a 501(c)(3) registered nonprofit with the IRS. The absence of a rating should not be interpreted as either positive or negative. Charity Navigator mainly evaluates nonprofits based on Accountability & Finance and requires specific IRS registration.
Since it is not a 501(c)(3) organization, the Cooperativa De Ahorro Y Credito De Rincon cannot be assessed through the Accountability & Finance, Impact & Measurement, Culture & Community, or Leadership & Adaptability methodologies. Charity Navigator's evaluation processes require specific structures and data disclosure not applicable in this case.
No additional insights or feedback are available from GreatNonprofits due to the absence of user reviews for the Cooperativa De Ahorro Y Credito De Rincon. This lack of user feedback similarly provides no indicative assessment of the organization’s public perception or operational feedback from those familiar with its services.
This AI summary has been generated from information found on Charity Navigator.
Is Cooperativa De Ahorro Y Credito De Rincon legitimate?
Cooperativa De Ahorro Y Credito De Rincon is a legitimate nonprofit organization registered as a 501(c)(14) entity. Cooperativa De Ahorro Y Credito De Rincon 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.
Official website here: www.cooprincon.com
What is the mission statement of Cooperativa De Ahorro Y Credito De Rincon?
Cooperativa De Ahorro Y Credito De Rincon is a cooperative that focuses on obtaining savings deposits from its members to be used as financing sources, adhering to the cooperative movement philosophy. The institution serves around 30,000 members and offers financing terms, conditions, interest benefits, and insurance in accordance with this philosophy. During the fiscal year ending on June 30, 2021, the cooperative successfully acquired savings deposits from its members, transforming them into shares and deposits. By doing so, it ensures that it has a steady source of financing to support its members' needs. The cooperative operates as a tax-exempt organization and is dedicated to providing financial benefits while staying true to the cooperative movement's principles.
Official website here: www.cooprincon.com
Who is the CEO of Cooperativa De Ahorro Y Credito De Rincon?
Carmelo Rosario Nieves is the Executive President of Cooperativa De Ahorro Y Credito De Rincon.
Official website here: www.cooprincon.com
What is the revenue of Cooperativa De Ahorro Y Credito De Rincon?
Cooperativa De Ahorro Y Credito De Rincon's revenue in 2021 was $27,176,725.
Official website here: www.cooprincon.com
Who are the executives of Cooperativa De Ahorro Y Credito De Rincon and what are their salaries?
Where can I find the form 990 for Cooperativa De Ahorro Y Credito De Rincon?
Cooperativa De Ahorro Y Credito De Rincon's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.cooprincon.com
Learn more at the official website: www.cooprincon.com
Mission Statement of Cooperativa De Ahorro Y Credito De Rincon
Cooperativa De Ahorro Y Credito De Rincon, a tax-exempt organization with approximately 30,000 members, is dedicated to the cooperative movement philosophy. In simple terms, this organization obtains savings deposits from its members, acting as both a savings and financing source. Through this approach, it provides financial services that cater to the cooperative spirit. The fiscal year ending on June 30, 2021, was marked by the successful acquisition of savings deposits, allowing the institution to offer financing terms, conditions, interest, and insurance benefits in line with the cooperative philosophy. By fostering a sense of community and mutual support, Cooperativa De Ahorro Y Credito De Rincon empowers its members to save and invest collectively, creating a thriving financial ecosystem.
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Impact
October, 2024
Cooperativa De Ahorro Y Credito De Rincon significantly impacts its community by providing a reliable platform for financial services tailored to its members. With approximately 30,000 members, it facilitates savings deposits that help individuals accumulate wealth and security through shares and deposit accounts.
The cooperative adheres to the principles of the cooperative movement, ensuring that its members benefit from favorable financing terms and conditions. By offering interest and insurance benefits, it empowers members to make informed financial decisions that can lead to improved economic stability. This focus on community-oriented service strengthens the local economy and fosters a sense of mutual support among members.
Through its operations, the institution not only promotes financial inclusion but also enhances the overall financial literacy of its members, equipping them with the tools they need to achieve their personal financial goals. Ultimately, Cooperativa De Ahorro Y Credito De Rincon plays a vital role in building a more resilient community by prioritizing the needs and well-being of its members.
This information is meant to be a general summary of Cooperativa De Ahorro Y Credito De Rincon. 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 2021.
- Investment Income: $5,684,864
- Program Service Revenue: $19,025,669
- Gross Receipts: $27,176,725
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COMSUMER LENDING
Revenue
$19,025,669
Organization Details
Founding Year
1955
Phone
(787) 823-1515Principal Officer
Carmelo Rosario Nieves
Main Address
PO BOX 608, RINCON, PR, 006670608
Website
www.cooprincon.comNTEE Category
Code: W60 - Public benefit
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