COOPERATIVA DE AHORRO Y CREDITO DE LARES y REGION CENTRAL

EIN: 660206444

LARES, PR

Total Revenue
$15,017,332
Total Expenses
$10,918,826
Total Assets
$231,162,182
Net Assets
$64,980,550
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1949
Legal Domicile
PR
Phone
7878972220
Tax Period
2024-01-01 to 2024-12-31

COOPERATIVA DE AHORRO Y CREDITO DE LARES y REGION CENTRAL, founded in 1949, is a mid-sized nonprofit that reported $15.0M in total revenue in fiscal year 2024. Revenue decreased 5% compared to the prior year. The organization ran a surplus of $4.1M, a strong 27% operating margin.

Mission

IT IS A NON PROFIT ORGANIZATION AND IS PRIMARILY DEDICATED TO RECEIVE SAVINGS FROM ITS MEMBERS IN THE FORM OF SHARES AND DEPOSITS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $13,430,026
Other Revenue $1,587,306
TOTAL REVENUE $15,017,332

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,410,252
Fundraising Expenses $0
Program Expenses $0
Other Expenses $7,508,574
TOTAL EXPENSES $10,918,826

Year-over-Year Comparison

2024 2023 Change
Revenue $15,017,332 $15,865,234 -0.1%
Expenses $10,918,826 $10,086,130 +0.1%
Net Income $4,098,506 $5,779,104 -0.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
11
Employees
76
Volunteers
14

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
0
$0
Total Directors
0
$0
Key Employees
8
$503,964
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CARLOS DE JESUS PRESIDENT 40.00
Highest
$147,254 $0 $147,254
JOSE J MERCADO MEDINA MANAGER OF OPERATIONS 40.00
Key Emp
$92,417 $0 $92,417
CARLOS J CENTENO PEREZ MANAGER OF DEPARMET CON SYSTEM 40.00
Key Emp
$69,382 $0 $69,382
MARYBELIS ACEVEDO ORTIZ MANAGER 40.00
Key Emp
$45,005 $0 $45,005
JOHNNY MONTANEZ VARGAS CONTROLLER 40.00
Key Emp
$67,188 $0 $67,188
ISRAEL RIVERA RIVERA MANAGER 40.00
Key Emp
$63,675 $0 $63,675
JAHEIRA CUEVAS ACCOUNTING SUPERVISOR 40.00
Key Emp
$57,994 $0 $57,994
JEANNETTE JIMENEZ RODRIGUEZ MANAGER 40.00
Key Emp
$55,094 $0 $55,094
EDUARD IRIZARRY JIMENEZ MANAGER 40.00
Key Emp
$53,209 $0 $53,209
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $15,017,332 $10,918,826 $231,162,182 $4,098,506
2023 $15,865,234 $10,086,130 $222,090,136 $5,779,104
2022 $12,301,363 $9,119,157 $209,138,285 $3,182,206
2021 $12,993,672 $8,430,499 $207,270,857 $4,563,173
2020 $10,491,899 $8,054,075 $187,333,576 $2,437,824
2019 $9,527,111 $12,106,196 $154,747,227 $-2,579,085
2018 $8,803,272 $8,263,186 $147,823,270 $540,086
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