Cooperativa De Ahorro Y Credito De Aguada

Nonprofit profile at a glance

EIN
660217490
IRS 990 coverage
2011–2020
Forms available
Form 990 2020
Location
Aguada, Puerto Rico, RQ
Phone
7878682115
Rating
51
Verdict
MIXED
Rating confidence
Moderate
Sector
Alcohol, Drug and Substance Abuse, Dependency Prevention and Treatment

Official website

Reported finances

Revenue
$8,401,945
Expenses
$7,842,085
Assets
$190,471,174
Liabilities
$250,232,508

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

6 people listed

Highest reported compensation

  • RAUL M ANGLERO (GENERAL MANAGER (CEASED)): $146,466 total reported compensation
  • ROSA I BONILLA AVILES (MANAGER): $60,395 total reported compensation
  • MIRIAM SOTO SOTO (MORTGAGE SUPERVISOR): $48,540 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote the saving among its members by savings deposits and financing services

What it reported doing in 2020

The primary purpose of the cooperative is to receive deposits from its partners in the form of savings and stock, and provide a source of financing at lower cost than offered by other financial institutions. The cooperative offers a variety of financial services, including but not limited to savings and checking accounts, personal loans, mortgage loans, commercial loans, resolving credit lines and others financing services.

Operating model

Revenue model
Investment-supported. 88% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 100
  • Accountability: 91
  • Sustainability: 54
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6.7%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 24.29; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 1.31; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 4.9%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: -39.3% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -10.2% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -11.9% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 1 of 1 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $146K · 6 people listed
  • Highest-paid contractors: 1 contractor listed · $124K reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2011 to 2020
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • Review — Sustainability: Officer compensation ratio scored 53/100.