COOPERATIVA DE AHORRO Y CREDITO DE MANATI INC

EIN: 660220429

MANATI, PR

Total Revenue
$23,873,690
Total Expenses
$18,526,039
Total Assets
$312,426,829
Net Assets
$58,233,957
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1948
Legal Domicile
PR
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.

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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 $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

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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
9
Employees
117
Volunteers
9

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
9
$0
Key Employees
16
$729,177
Highest Compensated
1
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
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