3) Investments: Schedule of Allowance for loan losses as a contra-asset account (Tables)

9 Months Ended

Sep. 30, 2019

Tables/Schedules

Schedule of Allowance for loan losses as a contra-asset account

Allowance for Credit Losses and Recorded Investment in Mortgage Loans
	Commercial	Residential	Residential Construction	Total
September 30, 2019
Allowance for credit losses:
Beginning balance - January 1, 2019	$        187,129	$     1,125,623	$          35,220	$     1,347,972
Charge-offs	-	(21,786)	7,982	(13,804)
Provision	-	(32,692)	-	(32,692)
Ending balance - September 30, 2019	$        187,129	$     1,071,145	$          43,202	$     1,301,476
Ending balance: individually evaluated for impairment	$                    -	$          30,341	$                    -	$          30,341
Ending balance: collectively evaluated for impairment	$        187,129	$     1,040,804	$          43,202	$     1,271,135
Mortgage loans:
Ending balance	$   26,720,812	$   79,853,121	$   92,602,632	$ 199,176,565
Ending balance: individually evaluated for impairment	$                    -	$     4,470,805	$        350,000	$     4,820,805
Ending balance: collectively evaluated for impairment	$   26,720,812	$   75,382,316	$   92,252,632	$ 194,355,760
December 31, 2018
Allowance for credit losses:
Beginning balance - January 1, 2018	$        187,129	$     1,546,447	$          35,220	$     1,768,796
Charge-offs	-	(5,725)	-	(5,725)
Provision	-	(415,099)	-	(415,099)
Ending balance - December 31, 2018	$        187,129	$     1,125,623	$          35,220	$     1,347,972
Ending balance: individually evaluated for impairment	$                    -	$          74,185	$                    -	$          74,185
Ending balance: collectively evaluated for impairment	$        187,129	$     1,051,438	$          35,220	$     1,273,787
Mortgage loans:
Ending balance	$   27,785,927	$   89,935,600	$   71,366,544	$ 189,088,071
Ending balance: individually evaluated for impairment	$        196,182	$     2,939,651	$        502,991	$     3,638,824
Ending balance: collectively evaluated for impairment	$   27,589,745	$   86,995,949	$   70,863,553	$ 185,449,247