| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Accounting fees | 43,800 | 35,040 | 43,800 |
| Category | Amount |
|---|---|
| UPFIT OF 1950 SULLIVAN RD FOR LEASE TO MOVEMENT SCHOOL SOUTH FULTON | 5,102,072 |
| OPERATING AND MAINTANCE COSTS INCURRED ON PROPERTIES | 2,411,585 |
| FURNITURE AND FIXTURE ADDITIONS FOR LEASED PROPERTIES | 2,057,130 |
| OTHER BUILDING UPFIT COSTS FOR LEASED PROPERTIES | 212,949 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| Buildings - 39 Year Life | 40,820,587 | 1,487,051 | Straight line | 39.0 | 1,061,501 | 1,061,501 | 1,061,501 | ||
| Building improvements - 20 year life | 78,488,192 | 8,888,402 | Straight line | 20.0 | 3,297,687 | 3,297,687 | 3,297,687 | ||
| Equipment - 7 year life | 6,340,893 | 1,522,652 | Straight line | 7.0 | 716,070 | 716,070 | 716,070 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| Mutual funds | 7,705,727 | 7,705,727 |
| Exchange traded products | 10,222,745 | 10,222,745 |
| Equity securities | 20,504,269 | 20,504,269 |
| Category/ Item | Cost/Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| Land | 13,775,717 | 0 | 13,775,717 | 13,775,717 |
| Buildings - 39 year life | 40,820,587 | 2,547,017 | 38,273,570 | 38,273,570 |
| Building improvements - 20 year life | 78,488,192 | 12,186,089 | 66,302,103 | 66,302,103 |
| Equipment - 7 year life | 6,340,893 | 2,238,721 | 4,102,172 | 4,102,172 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| Debt securities | FMV | 24,300,824 | 24,300,824 |
| Multi-family private real estate | FMV | 55,357,348 | 55,357,348 |
| Cash and money market | FMV | 114,100 | 114,100 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Legal fees | 179,553 | 39,600 | 179,553 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Insurance | 595,034 | 595,034 | ||
| Information technology | 2,781 | 2,781 | ||
| Office expenses | 1,640 | 1,640 | ||
| Fees | 2,855 | 2,855 | ||
| Other expenses | 275,860 | 275,860 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| Common area and other assessments | 1,063,145 | 1,063,145 | 1,063,145 |
| Description | Amount |
|---|---|
| Donated rent | 2,024,055 |
| Unrealized gains | 7,675,572 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| Donated rent payable | 10,357,533 | 8,333,478 |
| Deferred rental revenue | 3,237,500 | 3,150,000 |
| Borrower's Name | Relationship to Insider | Original Amount of Loan | Balance Due | Date of Note | Maturity Date | Repayment Terms | Interest Rate | Security Provided by Borrower | Purpose of Loan | Description of Lender Consideration | Consideration FMV |
|---|---|---|---|---|---|---|---|---|---|---|---|
| New Story Inc | None | 1,250,000 | 1,162,500 | 2021-12 | 2026-12 | Payment at Maturity, borrower may prepay | 100 % | Not specified | Assist organization in construction costs for homes in low income areas | Not specified | 1,162,500 |
| New Story Inc | None | 1,250,000 | 1,187,500 | 2022-02 | 2027-02 | Payment at Maturity, borrower may prepay | 100 % | Not specified | Assist organization in construction costs for homes in low income areas | Not specified | 1,187,500 |
| New Story Inc | None | 650,000 | 617,500 | 2024-09 | 2026-09 | Payment at Maturity, borrower may prepay | 325 % | Not specified | Assist organization in construction costs for homes in low income areas | Not specified | 617,500 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Investment management fees | 1,335,458 | 1,335,458 | 1,335,458 | |
| Other professional fees | 217,475 | 217,475 | 217,475 |
| Name | Address |
|---|---|
|
Harris Covenant |
PO Box 2086 Fort Mill,SC29716 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Property taxes | 929,442 | 929,442 | 929,442 |