Cooperativa De Ahorro Y Credito De Manati Inc
Nonprofit profile at a glance
- EIN
- 660220429
- IRS 990 coverage
- 2014–2025
- Forms available
- Form 990 2025, Form 990-N 2013
- Location
- Manati, PR, USA
- Phone
- 7878542214
- Rating
- 45
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $25,183,725
- Expenses
- $19,780,293
- Assets
- $337,303,304
- Liabilities
- $268,196,988
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
32 people listed
Executive titles in this filing
- CANDIDO RIVERA LOPEZ (EXECUTIVE PRESIDENT)
- SORRY ADROVET (VICE PRESIDENT PRESIDENT COMMERCIAL AND MORTGAGE)
- ANDERSON MARTINEZ COLON (VICE PRESIDENT OF FINANCE)
- JOSEAN PAGAN KUILAN (VICE PRESIDENT OF OPERATIONS)
- MILAGROS ROMERO (VICE PRESIDENT ADMINISTRATION)
Highest reported compensation
- CANDIDO RIVERA LOPEZ (EXECUTIVE PRESIDENT): $248,217 total reported compensation
- SORRY ADROVET (VICE PRESIDENT PRESIDENT COMMERCIAL AND MORTGAGE): $92,394 total reported compensation
- ANDERSON MARTINEZ COLON (VICE PRESIDENT OF FINANCE): $84,835 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To obtain savings deposits from its members as shares and deposits and offer financing sources following the cooperative movement philosophy.
What it reported doing in 2025
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.
Operating model
- Revenue model
- Investment-supported. 77% 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 - Most voting board members are independent and the filed numbers largely add up. 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: 60
- Accountability: 100
- Sustainability: 71
- Growth: 60
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; 64th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- 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: 9 of 9 controls in place; rating input score 100
- 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: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 21.5%; rating input score 78; 78th percentile among comparable filings
- Total-asset coverage ratio: 17.05; rating input score 91; 91st percentile among comparable filings
- Liabilities to assets ratio: 0.8; rating input score 12; 12th percentile among comparable filings
- Officer compensation ratio: 5.5%; rating input score 53; 53rd percentile among comparable filings
Growth
- Program expense growth: -2.8% per year; rating input score 0; 6th percentile among comparable filings
- Revenue growth: 10.2% per year; rating input score 100; 74th percentile among comparable filings
- Asset growth: 7.8% per year; rating input score 100; 55th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 9 of 9 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $248K · 32 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $650K reported
- Consistency: 32 of 32 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 12 filing years from 2014 to 2025
- Contacts: How to reach this organization
- Money network: 32 filed money-flow records
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Growth: Program expense growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 12/100.
- Review — Sustainability: Officer compensation ratio scored 53/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.