7): Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Tables)

9 Months Ended

Sep. 30, 2015

Tables/Schedules

Schedule of Financial Instruments Carried at Other Than Fair Value

	Carrying Value	Level 1	Level 2	Level 3	Total Estimated Fair Value
Assets
Mortgage loans:
Residential	$       46,506,794	$             -	$             -	$       49,579,568	$       49,579,568
Residential construction	28,762,546	-	-	28,762,546	28,762,546
Commercial	36,413,914	-	-	38,062,674	38,062,674
Mortgage loans, net	$     111,683,254	$             -	$             -	$     116,404,788	$     116,404,788
Policy loans	7,038,768	-	-	7,038,768	7,038,768
Other loans	27,422,787	-	-	27,422,787	27,422,787
Short-term investments	19,980,369	-	-	19,980,369	19,980,369
Liabilities
Bank and other loans payable	$     (39,535,964)	$             -	$             -	$     (39,535,964)	$     (39,535,964)

The carrying values and estimated fair values for such financial instruments, and their corresponding placement in the fair value hierarchy, are summarized as follows as of December 31, 2014:

	Carrying Value	Level 1	Level 2	Level 3	Total Estimated Fair Value
Assets
Mortgage loans:
Residential	$       51,876,621	$             -	$             -	$       55,247,638	$       55,247,638
Residential construction	32,971,824	-	-	32,971,824	32,971,824
Commercial	35,201,627	-	-	36,829,266	36,829,266
Mortgage loans, net	$     120,050,072	$             -	$             -	$     125,048,728	$     125,048,728
Policy loans	7,011,012	-	-	7,011,012	7,011,012
Other loans	27,114,416	-	-	27,114,416	27,114,416
Short-term investments	27,059,495	-	-	27,059,495	27,059,495
Liabilities
Bank and other loans payable	$     (28,989,008)	$             -	$             -	$     (28,989,008)	$     (28,989,008)