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

6 Months Ended

Jun. 30, 2017

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
June 30, 2017
Allowance for credit losses:
Beginning balance - January 1, 2017	$ 187,129	$ 1,461,540	$ 100,114	$ 1,748,783
Charge-offs	-	(49,775)	(64,894)	(114,669)
Provision	-	286,914	-	286,914
Ending balance - June 30, 2017	$ 187,129	$ 1,698,679	$ 35,220	$ 1,921,028

Ending balance: individually evaluated for impairment	$ -	$ 397,938	$ -	$ 397,938

Ending balance: collectively evaluated for impairment	$ 187,129	$ 1,300,741	$ 35,220	$ 1,523,090

Mortgage loans:
Ending balance	$ 39,763,788	$ 63,031,000	$ 34,512,524	$ 137,307,312

Ending balance: individually evaluated for impairment	$ 1,216,035	$ 5,092,895	$ 375,233	$ 6,684,163

Ending balance: collectively evaluated for impairment	$ 38,547,753	$ 57,938,105	$ 34,137,291	$ 130,623,149

December 31, 2016
Allowance for credit losses:
Beginning balance - January 1, 2016	$ 187,129	$ 1,560,877	$ 100,114	$ 1,848,120
Charge-offs	-	(420,135)	-	(420,135)
Provision	-	320,798	-	320,798
Ending balance - December 31, 2016	$ 187,129	$ 1,461,540	$ 100,114	$ 1,748,783

Ending balance: individually evaluated for impairment	$ -	$ 374,501	$ -	$ 374,501

Ending balance: collectively evaluated for impairment	$ 187,129	$ 1,087,039	$ 100,114	$ 1,374,282

Mortgage loans:
Ending balance	$ 51,536,622	$ 58,593,622	$ 40,800,117	$ 150,930,361

Ending balance: individually evaluated for impairment	$ 202,992	$ 2,916,538	$ 64,895	$ 3,184,425

Ending balance: collectively evaluated for impairment	$ 51,333,630	$ 55,677,084	$ 40,735,222	$ 147,745,936