COOPERATIVA AHORRO Y CREDITO MANATI

Address
PO BOX 30562
MANATI, PR 00674
Contact
Website: http://www.coopmanati.com
Phone: +1 (787) 854-2214
Nonprofit
NTEE: W60 - Financial Institutions, Services (Non-Government Related)
EIN: 66-0220429

Mission

TO OBTAIN SAVING DEPOSITS FROM ITS MEMBERS AS SHARES AND DEPOSITS AND PROVIDES FINANCING SOURCES IN ACCORDANCE WITH THE COOPERATIVE MOVEMENT PHILOSOPHY.
 20162015201420122011
Basic features of the organization
Subsection code14
PF filing required0    
Form of organization
Other form of orgTrue
Description of other form of orgCREDIT UNION
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel$193,221.00$173,198.00$154,605.00  
Sum of reportable (W2/1099) compensation$193,221.00$173,198.00$154,605.00  
Number of employees777171  
Number of people compensated >$100k111  
Personnel
Alvarez, Ricardo
TitleBOARD TREASUBOARD TREASUBOARD TREASU  
Name of key/compensated personRICARDO ALVAREZRICARDO ALVAREZRICARDO ALVAREZ  
Position of compensated person
Current individual trustee or directorTrueTrueTrue  
Reportable compensation from org$0.00$0.00$0.00  
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00  
Aulet, Hector
TitleBOARD OF DIRBOARD OF DIRBOARD OF DIR  
Name of key/compensated personHECTOR AULETHECTOR AULETHECTOR AULET  
Position of compensated person
Current individual trustee or directorTrueTrueTrue  
Reportable compensation from org$0.00$0.00$0.00  
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00  
Colon, Carlos
TitleBOARD OF DIRBOARD OF DIRBOARD OF DIR  
Name of key/compensated personCARLOS COLONCARLOS COLONCARLOS COLON  
Position of compensated person
Current individual trustee or directorTrueTrueTrue  
Reportable compensation from org$0.00$0.00$0.00  
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00  
Larregui, Victor
TitleBOARD DIRECTBOARD DIRECTBOARD DIRECT  
Name of key/compensated personVICTOR LARREGUIVICTOR LARREGUIVICTOR LARREGUI  
Position of compensated person
Current individual trustee or directorTrueTrueTrue  
Reportable compensation from org$0.00$0.00$0.00  
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00  
Martinez, Anderson
TitleCONTROLLERCONTROLLERCONTROLLER  
Name of key/compensated personANDERSON MARTINEZANDERSON MARTINEZANDERSON MARTINEZ  
Position of compensated person
Reportable compensation from org$52,596.00$50,697.00$45,456.00  
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00  
Martinez, Pedro
TitleBOARD DIRECTBOARD DIRECTBOARD DIRECT  
Name of key/compensated personPEDRO MARTINEZPEDRO MARTINEZPEDRO MARTINEZ  
Position of compensated person
Current individual trustee or directorTrueTrueTrue  
Reportable compensation from org$0.00$0.00$0.00  
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00  
Nieves, Doris
TitleBOARD DIRECTBOARD DIRECTBOARD DIRECT  
Name of key/compensated personDORIS CLASS NIEVESDORIS CLASS NIEVESDORIS CLASS NIEVES  
Position of compensated person
Current individual trustee or directorTrueTrueTrue  
Reportable compensation from org$0.00$0.00$0.00  
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00  
Nieves, Felipe
TitleBOARD DIRECTBOARD DIRECTBOARD DIRECT  
Name of key/compensated personFELIPE NIEVESFELIPE NIEVESFELIPE NIEVES  
Position of compensated person
Current individual trustee or directorTrueTrueTrue  
Reportable compensation from org$0.00$0.00$0.00  
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00  
Rivera, Candido
TitleEXECUTIVE PREXECUTIVE PREXECUTIVE PR  
Name of key/compensated personCANDIDO RIVERACANDIDO RIVERACANDIDO RIVERA  
Position of compensated person
Reportable compensation from org$140,625.00$122,501.00$109,149.00  
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00  
Torres, Manuel
TitleBOARD SECRETBOARD SECRETBOARD SECRET  
Name of key/compensated personMANUEL TORRESMANUEL TORRESMANUEL TORRES  
Position of compensated person
Current individual trustee or directorTrueTrueTrue  
Reportable compensation from org$0.00$0.00$0.00  
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00  
de Jesus, Gloria
TitleBOARD PRESIDBOARD PRESIDBOARD PRESID  
Name of key/compensated personGLORIA CRUZ DE JESUSGLORIA CRUZ DE JESUSGLORIA CRUZ DE JESUS  
Position of compensated person
Current individual trustee or directorTrueTrueTrue  
Reportable compensation from org$0.00$0.00$0.00  
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00  
Purpose: mission, activities, & accomplishments
Mission or significant activitiesTO OBTAIN SAVING DEPOSITS FROM ITS MEMBERS AS SHARES AND DEPOSITS AND PROVIDES FINANCING SOURCES IN ACCORDANCE WITH THE COOPERATIVE MOVEMENT PHILOSOPHY.TO OBTAIN SAVING DEPOSITS FROM ITS MEMBERS AS SHARES AND DEPOSITS AND PROVIDES FINANCING SOURCES IN ACCORDANCE WITH THE COOPERATIVE MOVEMENT PHILOSOPHY.TO OBTAIN SAVING DEPOSITS FROM ITS MEMBERS AS SHARES AND DEPOSITS AND PROVIDES FINANCING SOURCES IN ACCORDANCE WITH THE COOPERATIVE MOVEMENT PHILOSOPHY.  
Program service expenses, total$1,909,092.00$1,900,449.00$1,699,005.00  
Programs, including revenue & expenses
DURING THE FISCAL YEAR ENDED ON DECEMBER 31, 2016 THE INSTITUTION OBTAINED SAVING DEPOSITS FROM MEMBERS AS SHARES AND DEPOSITS PROVIDING FINANCING TERMS AND CONDITIONS, INTEREST AND INSURANCE BENEFITS IN ACCORDANCE WITH THE COOPERATIVE MOVEMENT PHILOSOPHY.
Program expenses$1,909,092.00$1,900,449.00$1,699,005.00  
Program revenue$8,429,845.00$8,499,032.00$8,165,364.00  
Program descriptionDURING THE FISCAL YEAR ENDED ON DECEMBER 31, 2016 THE INSTITUTION OBTAINED SAVING DEPOSITS FROM MEMBERS AS SHARES AND DEPOSITS PROVIDING FINANCING TERMS AND CONDITIONS, INTEREST AND INSURANCE BENEFITS IN ACCORDANCE WITH THE COOPERATIVE MOVEMENT PHILOSOPHY.DURING THE FISCAL YEAR ENDED ON DECEMBER 31, 2014 THE INSTITUTION OBTAINED SAVING DEPOSITS FROM MEMBERS AS SHARES AND DEPOSITS PROVIDING FINANCING TERMS AND CONDITIONS, INTEREST AND INSURANCE BENEFITS IN ACCORDANCE WITH THE COOPERATIVE MOVEMENT PHILOSOPHY.DURING THE FISCAL YEAR ENDED ON DECEMBER 31, 2014 THE INSTITUTION OBTAINED SAVING DEPOSITS FROM MEMBERS AS SHARES AND DEPOSITS PROVIDING FINANCING TERMS AND CONDITIONS, INTEREST AND INSURANCE BENEFITS IN ACCORDANCE WITH THE COOPERATIVE MOVEMENT PHILOSOPHY.  
Financial data
Revenue
Total revenue$9,711,797.00$9,624,164.00$9,150,269.00  
Revenue from contributions (total) $0.00$0.00$0.00$0.00
Investment income, current yr$435,265.00$339,149.00$345,391.00  
Total revenue from grants, etc., current yr$0.00$0.00$0.00  
Total unrelated business revenue$0.00$0.00$0.00  
Other revenue, current yr$846,687.00$785,983.00$639,514.00  
Program service revenue (total)$8,429,845.00$8,499,032.00$8,165,364.00$8,087,768.00$7,678,164.00
Gross receipts$9,711,797.00$9,624,164.00$9,150,269.00  
Other types of revenue
Miscellaneous revenue (total)$750,233.00$776,058.00$636,264.00  
Income from dividends, interest, and similar investments$267,446.00$306,791.00$331,226.00  
Net rental income$96,454.00$9,925.00$3,250.00$5,400.00$6,305.00
Expense categories (totals)
Total functional expenses: sum of all$8,264,100.00$8,404,604.00$8,139,149.00  
Total functional expenses: program service $1,909,092.00$1,900,449.00$1,699,005.00  
Total functional expenses: management and general$6,355,008.00$6,504,155.00$6,440,144.00  
Total functional expenses: fundraising$0.00$0.00$0.00  
Fees for services
Legal fees (total)$174,963.00$189,933.00$184,923.00  
Fundraising service fees (total)$0.00$0.00$0.00  
Assets and liabilities
Total assets$164,852,685.00$153,679,927.00$143,555,318.00$128,519,285.00$126,565,486.00
Total assets, beginning of year$153,679,927.00$143,555,318.00$134,043,284.00  
Total liabilities$137,235,018.00$127,821,586.00$121,286,157.00$107,732,206.00$106,399,274.00
Total liabilities, beginning of year$127,821,586.00$121,286,157.00$114,092,956.00  
Net assets$27,617,667.00$25,858,341.00$22,269,161.00  
Net assets, beginning of year$25,858,341.00$22,269,161.00$19,950,328.00  
Other liabilities$135,984,786.00$126,151,847.00$120,003,207.00  
Other assets$3,846,529.00$2,508,015.00$1,269,534.00  
Investments: other securities$7,604,437.00$7,375,856.00$7,100,777.00  
Investments: publicly traded securities$11,623,580.00$11,509,736.00$10,952,966.00  
Cash: non-interest bearing$7,088,928.00$6,134,850.00$5,876,934.00  
Cash: non-interest bearing, beginning of year$6,134,850.00$5,876,934.00$3,094,964.00  
Inventories for sale or use $17,266.00$29,258.00  
Other financial variables
Revenue less expenses$1,447,697.00$1,219,560.00$1,011,120.00  
Advertising (total)$135,914.00$141,037.00$113,319.00  
Savings & temp cash investment$23,228,645.00$15,857,853.00$15,384,208.00  
Accounts receivable, net$515,117.00$640,263.00$605,841.00  
Prepaid expenses & deferred charges$294,248.00$367,388.00$496,721.00  
Accounts payable & accrued expenses$1,250,232.00$1,669,739.00$1,282,950.00  
Total net assets or fund balances$27,617,667.00$25,858,341.00$22,269,161.00  
Depreciation, depletion, amortization$336,049.00$355,235.00$318,806.00  
Governance and accountability
Number of voting members999  
Number of independent voting members999  
Financial sheets auditedTrueTrueTrue  
Accrual accountingTrueTrueTrue  
Tax year start date2016-01-012015-01-012014-01-01  
Tax year end date2016-12-012015-12-012014-12-012012-12-012011-12-01
Has local chaptersTrueTrueTrue  
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990990  
Date e-filing submitted2018-01-252017-01-042015-09-21  
IRS schema version2016v3.02015v2.12014v5.0  
Filing identifier201703119349302695201602449349300010201502269349302975  
Use these data in your project Benchmark this organization against its peers