| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 13,041 | 3,260 | 9,781 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| 2753 YOUNGS RD | 2019-12-27 | 568,167 | L | ||||||
| LOT 2A GOODWILL RD | 2019-12-27 | 705,166 | L | ||||||
| PARCEL 39444&39443 | 2019-12-27 | 1,646,506 | L | ||||||
| LASER MACHINE | 2019-12-23 | 27,981 | 15,988 | SL | 7 | 3,997 | |||
| ALL TERRAIN VEHICL | 2020-01-13 | 4,547 | 3,636 | SL | 5 | 909 | |||
| FENCING | 2020-12-31 | 924,345 | 184,869 | SL | 15 | 61,623 | |||
| MOWER | 2020-07-15 | 44,095 | 22,047 | SL | 7 | 6,299 | |||
| 2015 FORD F150 | 2020-02-13 | 39,880 | 31,239 | SL | 5 | 7,976 | |||
| 2017 FORD F350 | 2020-02-13 | 69,606 | 54,524 | SL | 5 | 13,921 | |||
| ALL TERRAIN VEHICL | 2020-09-03 | 13,199 | 8,800 | SL | 5 | 2,640 | |||
| TRAINING BUILDING | 2020-03-10 | 74,355 | 7,310 | SL | 39 | 1,907 | |||
| OFFICE BUILDING | 2020-10-04 | 25,694 | 2,142 | SL | 39 | 659 | |||
| ALL TERRAIN VEHICL | 2020-10-20 | 8,998 | 5,700 | SL | 5 | 1,800 | |||
| ALL TERRAIN VEHICL | 2020-06-09 | 18,618 | 13,344 | SL | 5 | 3,724 | |||
| TRACTOR | 2020-11-23 | 26,654 | 16,437 | SL | 5 | 5,331 | |||
| BARN IMPROVEMENTS | 2020-08-13 | 30,750 | 5,255 | SL | 20 | 1,538 | |||
| IRRIGATION | 2020-10-30 | 12,902 | 2,723 | SL | 15 | 860 | |||
| SHED | 2020-05-21 | 11,702 | 2,096 | SL | 20 | 585 | |||
| FARM EQUIPMENT | 2020-04-10 | 6,254 | 3,349 | SL | 7 | 893 | |||
| BLDG YOUNGS ROAD | 2019-12-27 | 145,549 | 29,108 | SL | 20 | 7,277 | |||
| TRAINING AREA IMPR | 2020-06-08 | 85,639 | 20,457 | SL | 15 | 5,709 | |||
| FENCING | 2021-09-17 | 53,216 | 7,983 | SL | 15 | 3,548 | |||
| LAND IMPROVEMENTS | 2021-06-26 | 79,585 | L | ||||||
| OUTDOOR RIDING ARE | 2022-12-04 | 89,636 | 6,474 | SL | 15 | 1,494 | |||
| BARN RENOVATION | 2022-11-09 | 114,686 | 8,920 | SL | 15 | 7,646 | |||
| COVERED ROUND PEN | 2022-11-09 | 33,763 | 2,626 | SL | 15 | 563 | |||
| TAMARACK LANE | 2022-04-26 | 1,276,811 | L | ||||||
| 4-WHEELER | 2022-07-01 | 7,719 | 2,316 | SL | 5 | 1,544 | |||
| 4-WHEELER | 2022-05-11 | 11,500 | 3,833 | SL | 5 | 2,300 | |||
| 4-WHEELER | 2022-04-29 | 4,655 | 1,552 | SL | 5 | 931 | |||
| OUTDOOR RIDING ARE | 2023-07-01 | 195,521 | 6,517 | SL | 15 | 13,035 | |||
| BARN RENOVATIONS | 2023-07-01 | 603,727 | 15,093 | SL | 20 | 30,186 | |||
| LAND IMPROVEMENTS | 2023-07-01 | 692,762 | L | ||||||
| ELECTRICAL INSTALL | 2023-07-01 | 51,977 | 1,299 | SL | 20 | 2,599 | |||
| ROUND PEN | 2023-07-01 | 57,239 | 1,908 | SL | 15 | 3,816 | |||
| RUN IN SHEDS | 2023-07-01 | 182,100 | 4,553 | SL | 20 | 9,105 | |||
| STORAGE BUILDING | 2023-07-01 | 16,109 | 403 | SL | 20 | 805 | |||
| FENCING | 2023-07-01 | 256,938 | 8,565 | SL | 15 | 17,129 | |||
| UTILITY TRAILER | 2023-07-01 | 3,020 | 302 | SL | 5 | 604 | |||
| GATOR | 2024-05-28 | 16,371 | SL | 5 | 1,910 | ||||
| RUN IN SHEDS | 2024-07-01 | 119,842 | SL | 20 | 2,996 | ||||
| LAND IMPROVEMENTS | 2024-07-01 | 50,506 | |||||||
| NEW FENCE | 2022-08-30 | 83,568 | 7,428 | SL | 15 | 1,393 | |||
| NEW FENCE | 2022-08-30 | 98,101 | 8,720 | SL | 15 | 6,540 |
| Name | Date Acquired | How Acquired | Date Sold | Purchaser Name | Gross Sales Price | Basis | Basis Method | Sales Expenses | Total (net) | Accumulated Depreciation |
|---|---|---|---|---|---|---|---|---|---|---|
| LOT 2A GOODWILL RD | 2019-12 | 2024-03 | 1,100,000 | 955,431 | 144,569 |
| Category / Item | Cost / Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| 2753 YOUNGS RD | 568,167 | 568,167 | 800,738 | |
| LOT 2A GOODWILL RD | ||||
| PARCEL 39444&39443 | 1,646,506 | 1,646,506 | 996,090 | |
| LASER MACHINE | 27,981 | 19,985 | 7,996 | 7,996 |
| ALL TERRAIN VEHICL | 4,547 | 4,545 | 2 | 2 |
| FENCING | 924,345 | 246,492 | 677,853 | 677,853 |
| MOWER | 44,095 | 28,346 | 15,749 | 15,749 |
| 2015 FORD F150 | 39,880 | 39,215 | 665 | 665 |
| 2017 FORD F350 | 69,606 | 68,445 | 1,161 | 1,161 |
| ALL TERRAIN VEHICL | 13,199 | 11,440 | 1,759 | 1,759 |
| TRAINING BUILDING | 74,355 | 9,217 | 65,138 | 65,138 |
| OFFICE BUILDING | 25,694 | 2,801 | 22,893 | 22,893 |
| ALL TERRAIN VEHICL | 8,998 | 7,500 | 1,498 | 1,498 |
| ALL TERRAIN VEHICL | 18,618 | 17,068 | 1,550 | 1,550 |
| TRACTOR | 26,654 | 21,768 | 4,886 | 4,886 |
| BARN IMPROVEMENTS | 30,750 | 6,793 | 23,957 | 23,957 |
| IRRIGATION | 12,902 | 3,583 | 9,319 | 9,319 |
| SHED | 11,702 | 2,681 | 9,021 | 9,021 |
| FARM EQUIPMENT | 6,254 | 4,242 | 2,012 | 2,012 |
| BLDG YOUNGS ROAD | 145,549 | 36,385 | 109,164 | 249,262 |
| TRAINING AREA IMPR | 85,639 | 26,166 | 59,473 | 59,473 |
| FENCING | 53,216 | 11,531 | 41,685 | 41,685 |
| LAND IMPROVEMENTS | 79,585 | 79,585 | 79,585 | |
| OUTDOOR RIDING ARE | ||||
| BARN RENOVATION | 114,686 | 16,566 | 98,120 | 98,120 |
| COVERED ROUND PEN | ||||
| TAMARACK LANE | 1,276,811 | 1,276,811 | 1,276,811 | |
| 4-WHEELER | 7,719 | 3,860 | 3,859 | 3,859 |
| 4-WHEELER | 11,500 | 6,133 | 5,367 | 5,367 |
| 4-WHEELER | 4,655 | 2,483 | 2,172 | 2,172 |
| OUTDOOR RIDING ARE | 195,521 | 19,552 | 175,969 | 175,969 |
| BARN RENOVATIONS | 603,727 | 45,279 | 558,448 | 558,448 |
| LAND IMPROVEMENTS | 692,762 | 692,762 | 692,762 | |
| ELECTRICAL INSTALL | 51,977 | 3,898 | 48,079 | 48,079 |
| ROUND PEN | 57,239 | 5,724 | 51,515 | 51,515 |
| RUN IN SHEDS | 182,100 | 13,658 | 168,442 | 168,442 |
| STORAGE BUILDING | 16,109 | 1,208 | 14,901 | 14,901 |
| FENCING | 256,938 | 25,694 | 231,244 | 231,244 |
| UTILITY TRAILER | 3,020 | 906 | 2,114 | 2,114 |
| GATOR | 16,371 | 1,910 | 14,461 | 14,461 |
| RUN IN SHEDS | 119,842 | 2,996 | 116,846 | 116,846 |
| LAND IMPROVEMENTS | 50,506 | 50,506 | 50,506 | |
| NEW FENCE | ||||
| NEW FENCE | 98,101 | 15,260 | 82,841 | 82,841 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL EXPENSE | 65,774 | 65,774 |
| Item No. | 1 |
|---|---|
| Lender's Name | EVAN I HECHT DIRECTOR SECRETARY-T |
| Lender's Title | |
| Original Amount of Loan | 250000 |
| Balance Due | 1800000 |
| Date of Note | 2022-07 |
| Maturity Date | |
| Repayment Terms | PAYABLE IN FULL UPON DEMAND |
| Interest Rate | |
| Security Provided by Borrower | NONE |
| Purpose of Loan | LINE OF CREDIT |
| Description of Lender Consideration | 1,800,000 |
| Consideration FMV |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FARM MAINTENANCE | 283,596 | 283,596 | ||
| HAY, FEED, & SUPPLIES | 243,293 | 243,293 | ||
| HORSE TRAINING | 31,001 | 31,001 | ||
| INSURANCE | 63,928 | 63,928 | ||
| VETERINARY CARE | 163,170 | 163,170 | ||
| ADMINISTRATIVE | 989 | 989 | ||
| BANK CHARGES | 176 | 176 | ||
| UTILITIES | 22,390 | 22,390 | ||
| MISCELLANEOUS | 431 | 431 | ||
| PAYROLL SERVICE FEE | 4,795 | 4,795 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| REAL ESTATE TAX |