| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Accounting | 4,250 | 0 | 0 | 4,250 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| RANCH IMPROVEMENT-BSA/GSA | 2014-06-30 | 87,221 | 49,427 | SL | 15.0000 | 5,815 | |||
| RESIDENTIAL RENTAL | 2017-12-31 | 27,000 | 4,910 | SL | 3.64 % | 982 | |||
| RESIDENTIAL RENTAL IMPVMT | 2018-12-31 | 42,262 | 6,212 | SL | 3.64 % | 1,537 | |||
| GATOR | 2019-03-08 | 13,298 | 10,196 | SL | 5.0000 | 2,660 | |||
| BACKHOE - 24' BUCKET | 2019-07-11 | 25,000 | 17,500 | SL | 5.0000 | 5,000 | |||
| NEW WATER LINE | 2019-11-27 | 33,400 | 6,867 | SL | 15.0000 | 2,227 | |||
| NEW ELECTRIC LINE | 2019-02-14 | 19,700 | 5,143 | SL | 15.0000 | 1,313 | |||
| 2 NEW WATER LINES/HYDRANTS | 2019-06-06 | 24,500 | 5,852 | SL | 15.0000 | 1,633 | |||
| WATER LINE/HYDRANT | 2019-08-09 | 6,750 | 1,538 | SL | 15.0000 | 450 | |||
| 6' FENCE | 2019-08-15 | 8,297 | 1,889 | SL | 15.0000 | 553 | |||
| WATER LINE/HYDRANT | 2019-09-05 | 8,100 | 1,800 | SL | 15.0000 | 540 | |||
| JOHN DEERE GATOR | 2020-09-01 | 19,275 | 8,995 | SL | 5.0000 | 3,855 | |||
| WATER LINES | 2020-06-02 | 25,000 | 4,306 | SL | 15.0000 | 1,667 | |||
| WATER LINES | 2020-07-01 | 3,500 | 583 | SL | 15.0000 | 233 | |||
| ASPHALT SEALANT | 2020-07-23 | 174,750 | 121,354 | SL | 3.0000 | 33,979 | |||
| GATE ENTRY SYSTEM | 2020-04-09 | 9,134 | 5,024 | SL | 5.0000 | 1,827 | |||
| HVAC UNIT | 2020-12-08 | 17,000 | 1,262 | SL | 3.64 % | 618 | |||
| Gravel Road and Water Line | 2021-05-25 | 22,060 | 2,329 | SL | 15.0000 | 1,471 | |||
| G.S. Roads in Camp | 2021-09-09 | 60,000 | 5,333 | SL | 15.0000 | 4,000 | |||
| HVAC Unit | 2021-09-09 | 5,150 | 242 | SL | 3.64 % | 187 | |||
| HVAC Unit | 2021-11-02 | 5,660 | 232 | SL | 3.64 % | 206 | |||
| BSA Dock | 2021-06-28 | 8,500 | 850 | SL | 15.0000 | 567 | |||
| Turkey Creek Road | 2022-01-03 | 47,214 | 1,572 | SL | 6.67 % | 3,149 | |||
| Turkey Creek Road | 2022-12-14 | 30,000 | 999 | SL | 6.67 % | 2,001 | |||
| Work Truck - 2023 Chevrolet 2500 | 2022-12-15 | 57,495 | 11,499 | 200DB | 32.00 % | 18,398 | |||
| RANCH EQUIPMENT-TRACTOR | 2023-05-18 | 171,491 | SL | 5.0000 | 20,007 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| CORPORATE BONDS | 650,525 | 626,272 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| CORPORATE STOCK | 6,077,235 | 10,599,525 |
| Category/ Item | Cost/Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| Machinery and Equipment | 8,199 | 8,199 | ||
| Buildings | 69,262 | 13,641 | 55,621 | 97,072 |
| Improvements | 87,221 | 55,242 | 31,979 |
| Category / Item | Cost / Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| Auto./Transportation Equip. | 57,495 | 29,897 | 27,598 | 57,495 |
| Machinery and Equipment | 249,182 | 86,048 | 163,134 | 257,381 |
| Buildings | 458,252 | 2,747 | 455,505 | |
| Improvements | 471,771 | 214,198 | 257,573 | 558,992 |
| Land | 16,598,239 | 16,598,239 | 36,806,809 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Legal Fees | 37,057 | 0 | 0 | 37,057 |
| Item No. | 1 |
|---|---|
| Lender's Name | EIDL |
| Lender's Title | |
| Relationship to Insider | |
| Original Amount of Loan | 500,000 |
| Balance Due | 500,000 |
| Date of Note | |
| Maturity Date | |
| Repayment Terms | |
| Interest Rate | |
| Security Provided by Borrower | |
| Purpose of Loan | |
| Description of Lender Consideration | |
| Consideration FMV |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| PERSONAL PROPERTY RANCH | 49,000 | 49,000 | 49,000 |
| RANCH CAPITAL IMPROVEMENTS | 7,044,006 | 7,044,006 | 7,044,006 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ADVERTISING & MARKETING | 24,545 | 24,545 | ||
| AUTO INSURANCE | 10,242 | 10,242 | ||
| AUTOMOBILE REPAIRS | 3,385 | 3,385 | ||
| BANK CHARGES | 2,733 | 2,733 | ||
| CONTRACT LABOR | 4,922 | 4,922 | ||
| EQUIPMENT REPAIRS | 7,128 | 7,128 | ||
| FARM GASOLINE & FUEL | 18,231 | 18,231 | ||
| FARM PASTURE RENT | 31,240 | 31,240 | ||
| FARM REPAIRS & MAINTENANCE | 72,721 | 72,721 | ||
| FARM SUPPLIES | 23,716 | 23,716 | ||
| FARM UTILITIES | 89,046 | 89,046 | ||
| FARM VEHICLE TAGS | 3,053 | 3,053 | ||
| INSURANCE EXPENSE | 20,802 | 20,802 | ||
| MISCELLANEOUS | 223 | 223 | ||
| OFFICE EXPENSES | 23,687 | 23,687 | ||
| OFFICE EXPENSES | 3,442 | 3,442 | ||
| PROPERTY INSURANCE | 178,193 | 178,193 | ||
| ROAD REPAIRS | 337,145 | 337,145 | ||
| WORKERS COMPENSATION INSURANCE | 10,882 | 10,882 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| Other Investment Income | 8,421 | ||
| SALE OF FULLY DEPR VEHICLE | 560 | ||
| TAX REFUND | 75,586 |
| Description | Amount |
|---|---|
| BOOK/TAX DIFFERENCE | 336,663 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT MANAGEMENT FEES | 172,919 | 172,919 | 172,919 | 0 |
| OTHER PROFESSIONAL FEES | 107,453 | 23,000 | 0 | 84,453 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| PAYROLL TAXES | 31,205 | 31,205 | ||
| PROPERTY TAX | 43,609 | 43,609 |