| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| HALLEN ASSOCIATES, PLLC | 2,750 | |||
| BANCORPSOUTH QUICKBOOKS | 400 |
| Person Name | Explanation |
|---|---|
| STEPHEN RECK | |
| JERAMIE FORTENBERRY | |
| TERRY MEDLEY | |
| VIVIAN CHAMPAIGNE | |
| TRICIA HUBBARD |
| Description of Property | Date Acquired | Cost or Other Basis | Prior Years' Depreciation | Computation Method | Rate / Life (# of years) |
Current Year's Depreciation Expense | Net Investment Income | Adjusted Net Income | Cost of Goods Sold Not Included |
|---|---|---|---|---|---|---|---|---|---|
| LAND | 2006-04-01 | 53,754 | |||||||
| BUILDING | 2006-04-01 | 450,000 | 42,800 | S/L | 39.0000 | 11,539 | |||
| OFFICE FURNITURE | 2006-04-01 | 1,460 | 773 | S/L | 7.0000 | 208 | |||
| SOFA SET | 2007-02-24 | 749 | 268 | S/L | 7.0000 | 107 | |||
| 4 CHAIRS | 2007-03-30 | 447 | 160 | S/L | 7.0000 | 64 | |||
| COMPUTER | 2007-04-02 | 848 | 425 | S/L | 5.0000 | 169 | |||
| DELL COMPUTER | 2007-12-15 | 736 | 368 | S/L | 5.0000 | 147 | |||
| ULTRASOUND MACHINE | 2006-04-01 | 30,055 | 15,028 | S/L | 7.0000 | 4,293 | |||
| DRIVEWAY | 2008-11-19 | 5,200 | 2,884 | S/L | 20.0000 | 260 |
| Name | Date Acquired | How Acquired | Date Sold | Purchaser Name | Gross Sales Price | Basis | Basis Method | Sales Expenses | Total (net) | Accumulated Depreciation |
|---|---|---|---|---|---|---|---|---|---|---|
| LAND | 2006-01 | PURCHASE | 2010-03 |
BAPTIST MISSNRY ASSN |
249,609 | 96,246 | 153,363 |
| Category / Item | Cost / Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| 489,495 | 79,493 | 410,002 | 410,002 | |
| 53,754 | 53,754 | 139,406 |
| Item No. | 1 |
|---|---|
| Lender's Name | REVOLVING LOAN FUND |
| Lender's Title | |
| Relationship to Insider | NOT APPLICABLE |
| Original Amount of Loan | 495089 |
| Balance Due | 233229 |
| Date of Note | 2010-03 |
| Maturity Date | 1940-03 |
| Repayment Terms | 1,324 MONTHLY, INCL. P&I |
| Interest Rate | 0.0540 |
| Security Provided by Borrower | REAL ESTATE DEED OF TRUST |
| Purpose of Loan | PURCHASE OF LAND AND BUILDING |
| Description of Lender Consideration | DEED OF TRUST |
| Consideration FMV | 495089 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| EXPENSES | ||||
| INSURANCE | 11,970 | |||
| AFFILIATION DUES/SUBSCRIPTION | 2,304 | |||
| RESOURCE MATERIALS | 1,032 | |||
| POSTAGE | 996 | |||
| OFFICE SUPPLIES AND EXPENSES | 4,336 | |||
| BANK CHARGES | 1,547 | |||
| PROGRAM EXPENSES | 3,005 | |||
| SPECIAL EVENTS EXPENSES | 6,283 | |||
| REFUNDS | -1,304 | |||
| REBATES | -207 |
| Name | Address |
|---|---|
|
MICHAEL MEMORIAL BAPTIST CHURCH |
15053 JOHN CLARK ROAD GULFPORT,MS39503 |
|
WOOLMARKET BAPTIST CHURCH |
12816 LORRAINE ROAD BILOXI,MS39532 |