| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Tax Preparation | 7,250 | 0 | 0 | 7,250 |
| 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 | 2014-06-30 | 87,221 | 55,242 | SL | 15.000000 | 5,815 | 0 | 0 | |
| Water Line | 2019-11-27 | 33,400 | 9,094 | SL | 15.000000 | 2,227 | 0 | 0 | |
| Electric Line | 2019-02-14 | 19,700 | 6,456 | SL | 15.000000 | 1,313 | 0 | 0 | |
| Water LIne | 2019-08-09 | 6,750 | 1,988 | SL | 15.000000 | 450 | 0 | 0 | |
| Water Line | 2019-06-06 | 24,500 | 7,485 | SL | 15.000000 | 1,633 | 0 | 0 | |
| Fence | 2019-08-15 | 8,297 | 2,442 | SL | 15.000000 | 553 | 0 | 0 | |
| Water Line | 2019-09-05 | 8,100 | 2,340 | SL | 15.000000 | 540 | 0 | 0 | |
| Water LIne | 2020-06-02 | 25,000 | 5,973 | SL | 15.000000 | 1,667 | 0 | 0 | |
| Water Line | 2020-07-01 | 3,500 | 816 | SL | 15.000000 | 233 | 0 | 0 | |
| Asphalt Sealant | 2020-07-23 | 174,750 | 155,333 | SL | 3.000000 | 19,417 | 0 | 0 | |
| Gravel Road & Water Line | 2021-05-05 | 22,060 | 3,800 | SL | 15.000000 | 1,471 | 0 | 0 | |
| GS Roads | 2021-09-09 | 60,000 | 9,333 | SL | 15.000000 | 4,000 | 0 | 0 | |
| BSA Dock | 2021-06-28 | 8,500 | 1,417 | SL | 15.000000 | 567 | 0 | 0 | |
| Turkey Creek Road | 2022-01-03 | 47,214 | 4,721 | SL | 15.000000 | 3,149 | 0 | 0 | |
| Turkey Creek Road | 2022-12-14 | 30,000 | 3,000 | SL | 15.000000 | 2,001 | 0 | 0 | |
| Gator | 2019-03-08 | 13,298 | 12,856 | SL | 5.000000 | 442 | 0 | 0 | |
| Backhoe | 2019-07-11 | 25,000 | 22,500 | SL | 5.000000 | 2,500 | 0 | 0 | |
| Gator | 2020-09-01 | 19,275 | 12,850 | SL | 5.000000 | 3,855 | 0 | 0 | |
| Gate | 2020-04-09 | 9,134 | 6,851 | SL | 5.000000 | 1,827 | 0 | 0 | |
| Tractor | 2023-05-18 | 171,491 | 20,007 | SL | 5.000000 | 34,296 | 0 | 0 | |
| HVAC | 2020-12-08 | 17,000 | 1,880 | SL | 27.500000 | 618 | 0 | 0 | |
| HVAC | 2021-11-02 | 5,660 | 438 | SL | 206.000000 | 206 | 0 | 0 | |
| Residential | 2017-12-31 | 27,000 | 5,892 | SL | 27.500000 | 982 | 0 | 0 | |
| Residential Improvement | 2018-12-31 | 42,262 | 7,749 | SL | 27.500000 | 1,537 | 0 | 0 | |
| 2023 Chevrolet 2500 | 2022-12-15 | 57,495 | 29,897 | MACRS | 6.000000 | 11,039 | 0 | 0 | |
| HVAC | 2021-09-09 | 5,150 | 429 | SL | 27.500000 | 187 | 0 | 0 | |
| Fence | 2024-08-19 | 7,424 | 0 | SL | 15.000000 | 205 | 0 | 0 | |
| Improvements | 2024-09-10 | 6,721 | 0 | SL | 27.500000 | 214 | 0 | 0 | |
| Gate | 2024-10-23 | 6,650 | 0 | SL | 15.000000 | 333 | 0 | 0 | |
| Improvements | 2024-06-11 | 17,724 | 0 | SL | 27.500000 | 378 | 0 | 0 | |
| Equipment | 2024-05-15 | 27,849 | 0 | SL | 5.000000 | 3,712 | 0 | 0 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| Investments - corporate bonds | 0 | 0 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| Investments - corporate stock | 19,424,129 | 23,281,500 |
| Category/ Item | Cost/Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| Machinery and Equipment | 0 | 8,199 | 0 | 0 |
| Buildings | 55,621 | 16,160 | 53,102 | 97,072 |
| Improvements | 31,979 | 61,649 | 50,018 | 25,000 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| Other Investments | AT COST | 2,206,121 | 2,317,302 |
| Category / Item | Cost / Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| Land buildings and equipment basis | 17,502,049 | 431,331 | 17,918,395 | 40,338,225 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Legal Fees | 45,841 | 0 | 0 | 45,841 |
| Item No. | 1 |
|---|---|
| Lender's Name | US Small Business Administration |
| Lender's Title | SBA |
| Relationship to Insider | None |
| Original Amount of Loan | 500,000 |
| Balance Due | 530,202 |
| Date of Note | 2022-03 |
| Maturity Date | 2052-03 |
| Repayment Terms | monthly |
| Interest Rate | 0.0275 |
| Security Provided by Borrower | None |
| Purpose of Loan | EIDL |
| Description of Lender Consideration | Cash |
| Consideration FMV | 530202 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| Other Assets | 7,093,006 | 7,093,006 | 7,093,006 |
| Description | Amount |
|---|---|
| Book Tax Difference | 17,607 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Advertising & Marketing | 4,195 | 0 | 0 | 4,195 |
| Bank Charges | 1,074 | 0 | 0 | 1,074 |
| Utilities | 90,005 | 0 | 0 | 90,005 |
| Repairs & Maintenance - Auto | 4,863 | 0 | 0 | 4,863 |
| Repairs & Maintenance - Equipment | 5,631 | 0 | 0 | 5,631 |
| Repairs & Maintenance - Property | 103,701 | 0 | 0 | 103,701 |
| Repairs & Maintenance - Roads | 14,475 | 0 | 0 | 14,475 |
| Gasoline & Fuel | 16,050 | 0 | 0 | 16,050 |
| Pasture Rental | 17,838 | 0 | 0 | 17,838 |
| Insurance - Workers Comp | 10,166 | 0 | 0 | 10,166 |
| Insurance - Liability | 133,714 | 0 | 0 | 133,714 |
| Insurance - Auto | 8,343 | 0 | 0 | 8,343 |
| Dues Fees | 2,458 | 0 | 0 | 2,458 |
| Office Expenses | 37,672 | 0 | 0 | 37,672 |
| Farm Supplies | 23,215 | 0 | 0 | 23,215 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| Insurance Refund | 19,118 | 0 | 0 |
| Tax Refund | 2,950 | 0 | 0 |
| Other Income | 4,000 | 0 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Investment Management Fees | 144,529 | 144,529 | 144,529 | 0 |
| Other Professional Fees | 119,854 | 23,000 | 23,000 | 96,854 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Payroll Taxes | 37,206 | 0 | 0 | 37,206 |
| Property Taxes | 21,754 | 0 | 0 | 21,754 |
| Other Taxes | 669 | 0 | 0 | 669 |
| Federal Tax | 2,900 | 0 | 0 | 2,900 |