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7): Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Tables) | 9 Months Ended
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Sep. 30, 2016
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 | $ 48,402,260 |  | $ - |  | $ - |  | $ 51,607,045 |  | $ 51,607,045
Residential construction | 41,910,955 |  | - |  | - |  | 41,910,955 |  | 41,910,955
Commercial | 39,560,542 |  | - |  | - |  | 41,181,866 |  | 41,181,866
Mortgage loans, net | $ 129,873,757 |  | $ - |  | $ - |  | $ 134,699,866 |  | $ 134,699,866
Policy loans | 6,858,019 |  | - |  | - |  | 6,858,019 |  | 6,858,019
Insurance assignments, net | 31,343,162 |  | - |  | - |  | 31,343,162 |  | 31,343,162
Short-term investments | 28,467,741 |  | - |  | - |  | 28,467,741 |  | 28,467,741
Liabilities |  |  |  |  |  |  |  |  |
Bank and other loans payable | $ (43,705,867) |  | $ - |  | $ - |  | $ (43,705,867) |  | $ (43,705,867)
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, 2015:
| Carrying Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total Estimated Fair Value
Assets |  |  |  |  |  |  |  |  |
Mortgage loans: |  |  |  |  |  |  |  |  |
Residential | $ 44,459,613 |  | $ - |  | $ - |  | $ 47,193,950 |  | $ 47,193,950
Residential construction | 34,751,443 |  | - |  | - |  | 34,751,443 |  | 34,751,443
Commercial | 33,335,849 |  | - |  | - |  | 34,778,136 |  | 34,778,136
Mortgage loans, net | $ 112,546,905 |  | $ - |  | $ - |  | $ 116,723,529 |  | $ 116,723,529
Policy loans | 6,896,457 |  | - |  | - |  | 6,896,457 |  | 6,896,457
Insurance assignments, net | 31,511,195 |  | - |  | - |  | 31,511,195 |  | 31,511,195
Short-term investments | 16,915,808 |  | - |  | - |  | 16,915,808 |  | 16,915,808
Liabilities |  |  |  |  |  |  |  |  |
Bank and other loans payable | $ (40,894,968) |  | $ - |  | $ - |  | $ (40,894,968) |  | $ (40,894,968)

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