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

12 Months Ended

Dec. 31, 2019

Tables/Schedules

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

Allowance for Credit Losses and Recorded Investment in Mortgage Loans Held for Investment
Years Ended December 31
	Commercial	Residential	Residential Construction	Total
2019
Allowance for credit losses:
Beginning balance	$      187,129	$     1,125,623	$        35,220	$     1,347,972
Charge-offs	-	(32,692)	-	(32,692)
Provision	-	129,775	7,982	137,757
Ending balance	$      187,129	$     1,222,706	$        43,202	$     1,453,037
Ending balance: individually evaluated for impairment	$                  -	$        195,993	$                  -	$        195,993
Ending balance: collectively evaluated for impairment	$      187,129	$     1,026,713	$        43,202	$     1,257,044
Mortgage loans:
Ending balance	$ 38,718,220	$ 113,043,965	$ 89,430,237	$ 241,192,422
Ending balance: individually evaluated for impairment	$   4,488,719	$     3,752,207	$      655,000	$     8,895,926
Ending balance: collectively evaluated for impairment	$ 34,229,501	$ 109,291,758	$ 88,775,237	$ 232,296,496
2018
Allowance for credit losses:
Beginning balance	$      187,129	$     1,546,447	$        35,220	$     1,768,796
Charge-offs	-	(5,725)	-	(5,725)
Provision	-	(415,099)	-	(415,099)
Ending balance	$      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