EIN 66-0398333

Cofecc

IRS 501(c) type
501(c)(3)
Num. employees
14
Year formed
1982
Most recent tax filings
2022-06-01
Description
Cofecc's mission aims to promote, facilitate, and execute economic development, community revitalization, long-term job creation and retention, self-employment, business and credit education, and entrepreneurship through the establishment or expansion of micro small and medium-sized E. The organization closed 11 new loans worth $252,614 through its SBA microloan demonstration program during the year. Additionally, Cofecc offers programs such as the Community Development Financial Institution Fund but did not close any new loans during the year. Cofecc is located in San Juan, PR.
Also known as...
Corporacion Para El Financiamiento Empresarial Del Comercio Y de Las Comuni Dades; Corp Para El Financiamiento Empresarial Del Comercio Y de Las; Corporacion Para El Financiamento Empresarial Del Comercio Y; Corporaciion Para El Fomento Economico de La Ciudad Capital
Total revenues
$779,991
2022
Total expenses
$750,191
2022
Total assets
$5,257,497
2022
Num. employees
14
2022

Program areas at Cofecc

Sba microloan demonstration program - 11 new loans were closed during the year totalling $252,614.
Community development financial institution fund - no new loan were closed during the year.
Sba 504 loans program - 7 new loans were closed during the year totalling $1,279,000.

Who funds Cofecc

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Union County Economic Development Corporation (UCEDC)Provide Support To Small Business of Puerto Rico$7,200
AmazonSmile FoundationGeneral Support$6

Personnel at Cofecc

NameTitleCompensation
Giovanna PiovanettiExecutive President$105,000
Everardo Velez PineiroLoan Department Director$61,350
Emilio Torres HernandezSecretary Board$625
Harry O Vega DiazVice President Board$900
Raul O Barreras RiveraTreasurer Board$1,400
...and 1 more key personnel

Financials for Cofecc

RevenuesFYE 06/2022
Total grants, contributions, etc.$201,722
Program services$539,362
Investment income and dividends$0
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$38,907
Total revenues$779,991

Form 990s for Cofecc

Fiscal year endingDate received by IRSFormPDF link
2022-062023-05-12990View PDF
2021-062022-07-11990View PDF
2020-062022-05-17990View PDF
2019-062021-05-13990View PDF
2018-062019-05-08990View PDF
...and 6 more Form 990s
Data update history
July 3, 2023
Posted financials
Added Form 990 for fiscal year 2022
June 29, 2023
Updated personnel
Identified 13 new personnel
February 3, 2023
Posted financials
Added Form 990 for fiscal year 2021
February 3, 2023
Posted financials
Added Form 990 for fiscal year 2020
August 3, 2022
Received grants
Identified 1 new grant, including a grant for $100,000 from Opportunity Finance Network (OFN)
Nonprofit Types
Business and community development organizationsCharities
Issues
Community improvementEconomic developmentBusiness and industry
Characteristics
State / local levelReceives government fundingTax deductible donations
General information
Address
PO Box 191791
San Juan, PR 00919
Metro area
San Juan-Bayamon-Caguas, PR
County
San Juan Municipio, PR
Phone
(787) 756-5080
IRS details
EIN
66-0398333
Fiscal year end
June
Taxreturn type
Form 990
Year formed
1982
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S31: Urban, Community Economic Development
NAICS code, primary
522120: Savings Institutions
Parent/child status
Independent
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