COOPERATIVA DE AHORRO Y CREDITO DE VEGA ALTA

Address
PO BOX 1078
VEGA ALTA, PUERTO RICO 00692
RQ
Contact
Website: http://www.vegacooppr.com
Phone: +1 (787) 883-4360
Nonprofit
EIN: 66-0214784
Year formed: 1953

Mission

SAVINGS AND CREDIT UNION OPERATION
 20172016201520142013
Basic features of the organization
Year of formation1953
Form of organization
CorporationTrue
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel$541,295.00$518,563.00$517,994.00$538,283.00$590,535.00
Sum of reportable (W2/1099) compensation$541,295.00$517,902.00$517,994.00$538,283.00$590,535.00
Number of employees101102108120121
Number of people compensated >$100k33222
Number of volunteers00000
Number of highly compensated contractors24453
Personnel
Bonilla, Luis
Title   COMPLIANCE DIRECTORVP OPERATIONS
Name of key/compensated person   LUIS G BONILLALUIS G BONILLA
Position of compensated person
Current key employee (> $150k)   TrueTrue
Average hours per week working for org   5050
Reportable compensation from org   $49,058.00$67,485.00
Other comp, non-reportable, from org and related orgs   $0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs    $0.00$0.00
Average hours per week working for related orgs   00
Colon, Nancy
TitleVICE PRESIDENT ADMINISTRATIONVICE PRESIDENT ADMINISTRATIONVICE PRESIDENT ADMINISTRATIONVICE PRESIDENT ADMINISTRATIONVICE PRESIDENT ADMINISTRATION
Name of key/compensated personNANCY COLONNANCY COLONNANCY COLONNANCY COLONNANCY COLON
Position of compensated person
Current key employee (> $150k)TrueTrueTrueTrueTrue
Average hours per week working for org00405050
Reportable compensation from org$99,239.00$104,428.00$98,508.00$90,348.00$84,462.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs4040000
Morales, Ruben
TitlePRESIDENTPRESIDENTPRESIDENTPRESIDENTPRESIDENT
Name of key/compensated personRUBEN MORALESRUBEN MORALESRUBEN MORALESRUBEN MORALESRUBEN MORALES
Position of compensated person
Average hours per week working for org00405050
Reportable compensation from org$326,194.00$293,382.00$309,585.00$297,152.00$293,615.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs4040000
Reyes, Ruben
Title    COMPLIANCE DIRECTOR
Name of key/compensated person    RUBEN GONZALEZ REYES
Position of compensated person
Current key employee (> $150k)    True
Average hours per week working for org    50
Reportable compensation from org    $43,381.00
Other comp, non-reportable, from org and related orgs    $0.00
Corresponding comp from related orgs
Reportable compensation from related orgs     $0.00
Average hours per week working for related orgs    0
Torres, Victor
TitleVICE PRESIDENT INFORMATION SYSTEMSVICE PRESIDENT INFORMATION SYSTEMSVICE PRESIDENT INFORMATION SYSTEMSVICE PRESIDENT INFORMATION SYSTEMSVICE PRESIDENT INFORMATION SYSTEMS
Name of key/compensated personVICTOR TORRESVICTOR TORRESVICTOR TORRESVICTOR TORRESVICTOR TORRES
Position of compensated person
Current key employee (> $150k)TrueTrueTrueTrueTrue
Average hours per week working for org00405050
Reportable compensation from org$115,862.00$120,092.00$109,901.00$101,725.00$101,592.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs4040000
Purpose: mission, activities, & accomplishments
Mission or significant activitiesA NON PROFIT ORGANIZATION THAT IS PRIMARILY DEDICATED TO RECEIVE SAVINGS FROM ITS MEMBERS IN THE FORM OF SHARES.A NON PROFIT ORGANIZATION THAT IS PRIMARILY DEDICATED TO RECEIVE SAVINGS FROM ITS MEMBERS IN THE FORM OF SHARES.A NON PROFIT ORGANIZATION THAT IS PRIMARILY DEDICATED TO RECEIVE SAVINGS FROM ITS MEMBERS IN THE FORM OF SHARES.A NON PROFIT ORGANIZATION THAT IS PRIMARILY DEDICATED TO RECEIVE SAVINGS FROM ITS MEMBERS IN THE FORM OF SHARES.A NON PROFIT ORGANIZATION THAT IS PRIMARILY DEDICATED TO RECEIVE SAVINGS FROM ITS MEMBERS IN THE FORM OF SHARES.
Program service expenses, total$0.00$0.00$0.00$0.00$0.00
Programs, including revenue & expenses
INTEREST INCOME AND OTHER INCOME OF 14,392,805 AND TOTAL EXPENSES OF 14,187,884.
Program descriptionINTEREST INCOME AND OTHER INCOME OF 14,392,805 AND TOTAL EXPENSES OF 14,187,884.INTEREST INCOME AND OTHER INCOME OF 15,460,879 AND TOTAL EXPENSES OF 14,977,008.INTEREST INCOME AND OTHER INCOME OF 17,703,585. AND TOTAL EXPENSES OF 17,254,993.INTEREST INCOME AND OTHER INCOME OF 19,082,542. AND TOTAL EXPENSES OF 16,867,917.INTEREST INCOME AND OTHER INCOME OF 19,796,444. AND TOTAL EXPENSES OF 17,054,158.
Financial data
Revenue
Total revenue$14,392,805.00$15,460,879.00$17,703,585.00$19,082,542.00$19,796,444.00
Revenue from contributions (total)$0.00$0.00$0.00$0.00$0.00
Investment income, current yr$11,764,156.00$12,715,532.00$14,233,969.00$16,188,632.00$17,044,733.00
Total revenue from grants, etc., current yr$0.00$0.00$0.00$0.00$0.00
Total unrelated business revenue$0.00$0.00$0.00$0.00$0.00
Other revenue, current yr$2,628,649.00$2,745,347.00$3,469,616.00$2,893,910.00$2,751,711.00
Net unrelated business taxable revenue$0.00$0.00$0.00$0.00$0.00
Program service revenue (total)$0.00$0.00$0.00$0.00$0.00
Gross receipts$14,392,805.00$15,460,879.00$17,703,585.00$19,082,542.00$19,796,444.00
Other types of revenue
Royalties (total)$0.00$0.00$0.00$0.00$0.00
Miscellaneous revenue (total)$2,628,649.00$2,745,347.00$3,469,616.00$2,893,910.00$2,751,711.00
Income from dividends, interest, and similar investments$11,764,156.00$12,715,532.00$14,233,969.00$16,188,632.00$17,044,733.00
Expense categories (totals)
Total functional expenses: sum of all$14,187,884.00$14,977,101.00$17,254,993.00$16,867,917.00$17,054,158.00
Total functional expenses: program service $0.00$0.00$0.00$0.00$0.00
Total functional expenses: management and general$14,187,884.00$14,977,101.00$17,254,993.00$16,867,917.00$17,054,158.00
Total functional expenses: fundraising$0.00$0.00$0.00$0.00$0.00
Fees for services
Fundraising service fees (total)$0.00$0.00$0.00$0.00$0.00
Assets and liabilities
Total assets$292,636,559.00$288,447,163.00$299,254,118.00$302,950,362.00$298,153,966.00
Total assets, beginning of year$288,447,163.00$299,254,118.00$302,950,362.00$298,153,966.00$288,341,291.00
Total liabilities$210,470,999.00$206,707,217.00$218,524,412.00$222,260,987.00$219,186,480.00
Total liabilities, beginning of year$206,707,217.00$218,524,412.00$222,260,987.00$219,186,480.00$211,838,338.00
Loans & receivables from key persons$310,250.00$383,696.00$338,408.00$643,389.00$542,700.00
Net assets$82,165,560.00$81,739,946.00$80,729,706.00$80,689,375.00$78,967,486.00
Net assets, beginning of year$81,739,946.00$80,729,706.00$80,689,375.00$78,967,486.00$76,502,953.00
Other liabilities$206,862,108.00$203,164,543.00$215,657,679.00$219,800,964.00$217,469,095.00
Other assets$13,315,190.00$8,890,026.00$5,533,632.00$5,214,744.00$5,780,956.00
Investments: other securities$9,960,056.00$9,722,992.00$9,568,865.00$9,311,981.00$8,965,481.00
Investments: publicly traded securities$20,080,661.00$25,464,566.00$39,088,877.00$50,267,297.00$51,458,065.00
Cash: non-interest bearing$61,365,617.00$49,649,308.00$43,492,235.00$36,547,573.00$24,039,994.00
Cash: non-interest bearing, beginning of year$49,649,308.00$43,492,235.00$36,547,573.00$24,039,994.00$17,917,764.00
Other financial variables
Revenue less expenses$204,921.00$483,778.00$448,592.00$2,214,625.00$2,742,286.00
Advertising (total)$454,536.00$612,057.00$710,227.00$623,988.00$620,936.00
Savings & temp cash investment$43,275,037.00$47,825,311.00$55,426,516.00$45,226,515.00$40,325,311.00
Accounts receivable, net   $146,486,871.00$158,724,110.00
Accounts payable & accrued expenses$3,608,891.00$3,542,674.00$2,866,733.00$2,460,023.00$1,717,385.00
Total net assets or fund balances$82,165,560.00$81,739,946.00$80,729,706.00$80,689,375.00$78,967,486.00
Depreciation, depletion, amortization$507,218.00$546,093.00$543,236.00$511,591.00$432,713.00
Governance and accountability
Number of voting members1111111111
Number of independent voting members1111111111
Financial sheets auditedTrueTrueTrueTrueTrue
Accrual accountingTrueTrueTrueTrueTrue
Tax year start date2017-01-012016-01-012015-01-012014-01-012013-01-01
Tax year end date2017-12-012016-12-012015-12-012014-12-012013-12-01
Has local chaptersTrueTrueTrueTrueTrue
Indicators for schedules (selected)
Outstanding loan to key person or disqualified personTrueTrueTrueTrueTrue
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990990990990
Date e-filing submitted2018-09-112017-09-122016-10-052015-07-092014-12-29
IRS schema version2017v2.02016v3.02015v2.12014v5.02013v3.0
Filing identifier201841579349301104201701579349301200201601489349300230201501669349300800201422269349301172
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