COOPERATIVA DE AHORRO Y CREDITO DE… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1948

Legal Domicile

Principal Officer

CANDIDO RIVERA

Phone

7878542214

Tax Period

2024-01-01 to 2024-12-31

COOPERATIVA DE AHORRO Y CREDITO DE MANATI INC, founded in 1948, is a mid-sized nonprofit that reported $23.9M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. The organization ran a surplus of $5.3M, a strong 22% operating margin.

Mission

TO OBTAIN SAVINGS DEPOSITS FROM ITS MEMBERS AS SHARES AND DEPOSITS AND OFFER FINANCING SOURCES FOLLOWING THE COOPERATIVE MOVEMENT PHILOSOPHY.

Program Service Accomplishments

Program 1

DURING THE FISCAL YEAR ENDED DECEMBER 31, 2024, THE INSTITUTION OBTAINED DEPOSITS FROM MEMBERS AND CONTINUED PROVIDING TO THEM AND THE COMMUNITY FINANCING SOURCES ALTERNATIVES WITH LOANS AT...

DURING THE FISCAL YEAR ENDED DECEMBER 31, 2024, THE INSTITUTION OBTAINED DEPOSITS FROM MEMBERS AND CONTINUED PROVIDING TO THEM AND THE COMMUNITY FINANCING SOURCES ALTERNATIVES WITH LOANS AT AFFORDABLE TERMS AS WELL AS ACCESSIBILITY TO TECHNOLOGY IN CHECKING, SAVING AND CREDIT PRODUCTS TO MANAGE THEIR PERSONAL FINANCES.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $17,620,157

Other Revenue $6,253,533

TOTAL REVENUE $23,873,690

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,673,841

Fundraising Expenses $0

Program Expenses $0

Other Expenses $13,852,198

TOTAL EXPENSES $18,526,039

Year-over-Year Comparison

	2024	2023	Change
Revenue	$23,873,690	$21,196,699	+0.1%
Expenses	$18,526,039	$15,222,216	+0.2%
Net Income	$5,347,651	$5,974,483	-0.1%

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

117

Volunteers

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

Total Directors

Key Employees

$729,177

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CANDIDO RIVERA LOPEZ	EXECUTIVE PRESIDENT	0	Highest	$168,600	$0	$168,600
ANDERSON MARTINEZ COLON	VICE PRESIDENT OF FINANCE	0	Key Emp	$75,075	$0	$75,075
JOSEAN PAGAN KUILAN	VICE PRESIDENT OF OPERATIONS	0	Key Emp	$65,272	$0	$65,272
SORRY ADROVET	VICE PRESIDENT PRESIDENT COMMERCIAL AND MORTGAGE	0	Key Emp	$55,997	$0	$55,997
MILAGROS ROMERO	VICE PRESIDENT ADMINISTRATION	40	Key Emp	$51,895	$0	$51,895
IRIS ROMERO	DEPARTMENT MANAGER SYSTEMS	40	Key Emp	$48,105	$0	$48,105
NORAIDA RODRIGUEZ CONCEPCION	OFFICE COMPLIANCE	40	Key Emp	$45,765	$0	$45,765
BRIGMARIAN SANCHEZ	HUMAN RESOURCES OFFICER	40	Key Emp	$43,856	$0	$43,856
MARIA MELENDEZ ZAYAS	LOAN MANAGER	40	Key Emp	$42,978	$0	$42,978
DIANA NEGRON JIMENEZ	INTERNAL AUDITOR	40	Key Emp	$42,894	$0	$42,894
VANESSA ROMERO	BRANCH MANAGER MANATI PLAZA	40	Key Emp	$40,562	$0	$40,562
SHERLY MUNOZ	SUC MANAGER VEGA BAJA	40	Key Emp	$40,444	$0	$40,444
YOLANDA OTERO	BRANCH MANAGER BARCELONETA	40	Key Emp	$37,350	$0	$37,350
EMILY CARNEVALE	BRANCH MANAGER CALES CENTER	40	Key Emp	$37,041	$0	$37,041
SAGER RODRIGUEZ	BRANCH MANAGER EXPRESS CIALES	40	Key Emp	$35,046	$0	$35,046
LUIS ROBLES	DEPARTMENT MANAGER COLLECTIONS	40	Key Emp	$34,722	$0	$34,722
ZALLIA CARDONA	EXECUTIVE SECRETARY	40	Key Emp	$32,175	$0	$32,175
RICARDO ALVAREZ CLAS	BOARD OF DIRECTORS	0	Director	$0	$0	$0
JOEL ROLON ALINDATO	BOARD OF DIRECTORS	0	Director	$0	$0	$0
CARLOS COLON RAMOS	BOARD OF DIRECTORS	0	Director	$0	$0	$0
ANIBAL DELGADO	BOARD OF DIRECTORS	0	Director	$0	$0	$0
DORIS CLASS	BOARD OF DIRECTORS	0	Director	$0	$0	$0
HECTOR AULET MEJIAS	BOARD OF DIRECTORS	0	Director	$0	$0	$0
HERIBERTO MARTINEZ GONZALEZ	BOARD OF DIRECTORS	0	Director	$0	$0	$0
CARMEN SOTO CABAN	BOARD OF DIRECTORS	0	Director	$0	$0	$0
ANGEL NOGUERAS	BOARD OF DIRECTORS	0	Director	$0	$0	$0

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	$23,873,690	$18,526,039	$312,426,829	$5,347,651
2023	$21,196,699	$15,222,216	$295,329,329	$5,974,483
2022	$12,946,475	$9,981,215	$217,103,471	$2,965,260
2021	$11,596,977	$9,452,173	$229,473,590	$2,144,804
2021	$11,596,977	$9,452,173	$229,473,590	$2,144,804
2020	$11,609,524	$9,964,630	$217,103,265	$1,644,894
2019	$11,459,002	$9,548,630	$181,339,510	$1,910,372
2018	$10,422,762	$9,077,900	$179,529,106	$1,344,862

COOPERATIVA DE AHORRO Y CREDITO DE MANATI INC