Note 2 - Investments (Tables)

3 Months Ended

Mar. 31, 2023

Notes Tables

Debt Securities, Available-for-Sale [Table Text Block]

	March 31, 2023
	Cost or		Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
	(unaudited)
Available for sale:
Fixed maturities:
US Treasury securities	$	781,660	$	895	$	(41,739	)	$	740,816
Corporate bonds		18,991,120		1,175		(2,643,662	)		16,348,633
Municipal bonds		6,223,405		8,958		(582,559	)		5,649,804
Redeemable preferred stock		3,871,039		587		(445,298	)		3,426,328
Term loans		18,141,181		164,592		(150,865	)		18,154,908
Mortgage backed and asset backed securities		22,210,519		258,327		(1,072,670	)		21,396,176
Total available for sale	$	70,218,924	$	434,534	$	(4,936,793	)	$	65,716,665

	December 31, 2022
	Cost or		Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
Available for sale:
Fixed maturities:
US Treasury securities	$	993,805	$	36,313	$	(5,031	)	$	1,025,087
Corporate bonds		19,018,738		722		(3,150,382	)		15,869,078
Municipal bonds		6,228,636		-		(808,227	)		5,420,409
Redeemable preferred stock		3,875,526		-		(519,911	)		3,355,615
Term loans		18,086,124		209,989		(146,395	)		18,149,718
Mortgage backed and asset backed securities		22,412,895		157,795		(1,074,520	)		21,496,170
Total available for sale	$	70,615,724	$	404,819	$	(5,704,466	)	$	65,316,077

Investments Classified by Contractual Maturity Date [Table Text Block]

	As of March 31, 2023				As of December 31, 2022
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(unaudited)
Amounts maturing in:
One year or less	$	100,631	$	99,638	$	442,846	$	450,461
After one year through five years		17,148,985		17,104,575		17,048,721		17,035,270
After five years through ten years		5,563,633		5,469,445		5,498,364		5,340,498
More than 10 years		21,324,117		18,220,503		21,337,372		17,638,063
Redeemable preferred stocks		3,871,039		3,426,328		3,875,526		3,355,615
Mortgage backed and asset backed securities		22,210,519		21,396,176		22,412,895		21,496,170
Total amortized cost and fair value	$	70,218,924	$	65,716,665	$	70,615,724	$	65,316,077

Realized Gain (Loss) on Investments [Table Text Block]

	Three Months Ended March 31,
	(unaudited)
	2023			2022
Gross gains	$	188,777		$	1,900
Gross losses		(3,692	)		(2,541	)
Realized gains (losses)	$	185,085		$	(641	)
Mortgage loans on real estate
Decrease in allowance for credit losses	$	13,225		$	-
Net gains (losses) realized on the sale of securities and net credit losses recognized in operations	$	198,310		$	(641	)

Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block]

	Less than 12 months					Greater than 12 months					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Loss			Value		Loss			Value		Loss
March 31, 2023	(unaudited)
Available for sale:
Fixed maturities:
US Treasury securities	$	538,754	$	(41,739	)	$	-	$	-		$	538,754	$	(41,739	)
Corporate bonds		8,676,598		(810,883	)		7,302,004		(1,832,779	)		15,978,602		(2,643,662	)
Municipal bonds		4,380,766		(314,727	)		999,757		(267,832	)		5,380,523		(582,559	)
Redeemable preferred stock		278,213		(26,958	)		3,029,054		(418,340	)		3,307,267		(445,298	)
Term loans		8,705,391		(150,865	)		-		-			8,705,391		(150,865	)
Mortgage backed and asset backed securities		9,426,743		(412,421	)		4,205,258		(660,249	)		13,632,001		(1,072,670	)
Total fixed maturities	$	32,006,465	$	(1,757,593	)	$	15,536,073	$	(3,179,200	)	$	47,542,538	$	(4,936,793	)

	Less than 12 months					Greater than 12 months					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Loss			Value		Loss			Value		Loss
December 31, 2022
Available for sale:
Fixed maturities:
US Treasury securities	$	398,375	$	(5,031	)	$	-	$	-		$	398,375	$	(5,031	)
Corporate bonds		12,378,486		(1,883,706	)		3,206,913		(1,266,676	)		15,585,399		(3,150,382	)
Municipal bonds		4,711,896		(587,053	)		708,514		(221,174	)		5,420,410		(808,227	)
Redeemable preferred stock		2,384,771		(363,193	)		970,844		(156,718	)		3,355,615		(519,911	)
Term loans		6,309,005		(146,395	)		-		-			6,309,005		(146,395	)
Mortgage backed and asset backed securities		10,358,560		(458,754	)		3,281,132		(615,766	)		13,639,692		(1,074,520	)
Total fixed maturities	$	36,541,093	$	(3,444,132	)	$	8,167,402	$	(2,260,334	)	$	44,708,495	$	(5,704,466	)

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	March 31, 2023			December 31, 2022
	(unaudited)
Commercial mortgage loans by property type
Condominium	$	1,696,975		$	1,696,975
Land		1,902,277			1,902,277
Multi-property		9,870,383			9,539,738
Multi-family		5,334,609			5,016,424
Retail/Office		6,617,887			5,634,659
Total commercial mortgages	$	25,422,131		$	23,790,073
Allowance for credit losses		(137,148	)		-
Carrying value	$	25,284,983		$	23,790,073

Schedule of Mortage Loans by Loan-to-Value Ratio [Table Text Block]

	March 31, 2023			December 31, 2022
	(unaudited)
Loan to value ratio
Over 70 to 80%	$	8,230,409		$	8,219,763
Over 60 to 70%		5,196,975			5,196,975
Over 50 to 60%		5,002,438			4,682,750
Over 40 to 50%		3,234,448			3,235,951
Over 20 to 30%		2,639,974			1,319,975
Over 10 to 20%		1,117,887			1,134,659
Total	$	25,422,131		$	23,790,073
Allowance for credit losses		(137,148	)		-
Carrying value	$	25,284,983		$	23,790,073

Schedule of Mortgage Loans by Maturity Date [Table Text Block]

	March 31, 2023			December 31, 2022
	(unaudited)
Maturity Date
One year or less	$	18,876,776		$	15,354,542
After one year through five years		6,545,355			8,435,531
Total	$	25,422,131		$	23,790,073
Allowance for credit losses		(137,148	)		-
Carrying value	$	25,284,983		$	23,790,073

Financing Receivable, Allowance for Credit Loss [Table Text Block]

	Three Months Ended March 31, 2023
	(unaudited)
	Specific Allowance		General Allowance
Beginning allowance balance	$	-	$	-
Cumulative adjustment for changes in accounting principals		-		150,373
Charge-offs		-		-
Recoveries		-		-
Change in provision for credit losses		-		(13,225	)
Ending Allowance	$	-	$	137,148

Investment Income [Table Text Block]

	Three Months Ended March 31,
	2023			2022
	(unaudited)
Fixed maturities	$	1,039,423		$	275,333
Mortgages		509,022			27,391
Equity securities		210,370			154,674
Funds withheld		-			700,308
Other invested assets		45,940			-
Cash and cash equivalents		14,021			460
		1,818,776			1,158,166
Less investment expenses		(313,166	)		(6,544	)
	$	1,505,610		$	1,151,622