Note 2 - Investments (Tables)

3 Months Ended

Mar. 31, 2024

Notes Tables

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

	March 31, 2024
	Cost or		Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
	(unaudited)
Available for sale:
Fixed maturities:
US Treasury securities	$	791,681	$	-	$	(78,212	)	$	713,469
Corporate bonds		20,021,974		66,937		(2,795,376	)		17,293,535
Municipal bonds		5,733,087		68		(588,471	)		5,144,684
Redeemable preferred stock		3,620,009		730		(196,668	)		3,424,071
Term loans		16,800,927		150,906		(290,534	)		16,661,299
Mortgage backed and asset backed securities		32,009,368		586,040		(922,423	)		31,672,985
Total available for sale	$	78,977,046	$	804,681	$	(4,871,684	)	$	74,910,043

	December 31, 2023
	Cost or		Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
Available for sale:
Fixed maturities:
US Treasury securities	$	790,976	$	-	$	(66,308	)	$	724,668
Corporate bonds		20,234,444		95,085		(2,516,167	)		17,813,362
Municipal bonds		6,207,596		4,044		(575,547	)		5,636,093
Redeemable preferred stock		3,622,572		1,699		(318,702	)		3,305,569
Term loans		17,177,179		162,011		(286,770	)		17,052,420
Mortgage backed and asset backed securities		30,621,025		520,599		(1,164,216	)		29,977,408
Total available for sale	$	78,653,792	$	783,438	$	(4,927,710	)	$	74,509,520

Investments Classified by Contractual Maturity Date [Table Text Block]

	As of March 31, 2024				As of December 31, 2023
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(unaudited)
Amounts maturing in:
One year or less	$	-	$	-	$	152,840	$	147,835
After one year through five years		15,589,592		15,632,945		16,397,124		16,461,777
After five years through ten years		6,227,335		5,940,946		6,371,609		6,112,389
More than 10 years		21,530,742		18,239,096		21,488,624		18,504,542
Redeemable preferred stocks		3,620,009		3,424,071		3,622,572		3,305,569
Mortgage backed and asset backed securities		32,009,368		31,672,985		30,621,025		29,977,408
Total amortized cost and fair value	$	78,977,046	$	74,910,043	$	78,653,792	$	74,509,520

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

	Three Months Ended March 31,
	(unaudited)
	2024			2023
Gross gains	$	6,064		$	188,777
Gross losses		(41,962	)		(3,692	)
Realized gains (losses)	$	(35,898	)	$	185,085
Mortgage loans on real estate		-			13,225
Decrease in allowance for credit losses	$	-		$	13,225

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, 2024	(unaudited)
Available for sale:
Fixed maturities:
US Treasury securities	$	441,492	$	(10,075	)	$	271,976	$	(68,137	)	$	713,469	$	(78,212	)
Corporate bonds		499,563		(5,081	)		14,551,379		(2,790,295	)		15,050,942		(2,795,376	)
Municipal bonds		745,637		(13,356	)		4,348,543		(575,115	)		5,094,180		(588,471	)
Redeemable preferred stock		-		-			3,300,478		(196,668	)		3,300,478		(196,668	)
Term loans		155,150		(2,076	)		7,561,890		(288,458	)		7,717,040		(290,534	)
Mortgage backed and asset backed securities		5,810,107		(106,347	)		7,345,331		(816,076	)		13,155,438		(922,423	)
Total fixed maturities	$	7,651,949	$	(136,935	)	$	37,379,598	$	(4,734,749	)	$	45,031,547	$	(4,871,684	)

	Less than 12 months					Greater than 12 months					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Loss			Value		Loss			Value		Loss
December 31, 2023
Available for sale:
Fixed maturities:
US Treasury securities	$	724,668	$	(66,308	)	$	-	$	-		$	724,668	$	(66,308	)
Corporate bonds		262,673		(863	)		15,653,914		(2,515,304	)		15,916,587		(2,516,167	)
Municipal bonds		523,744		(4,792	)		4,825,568		(570,755	)		5,349,312		(575,547	)
Redeemable preferred stock		-		-			3,305,569		(318,702	)		3,305,569		(318,702	)
Term loans		3,739,859		(174,955	)		3,534,621		(111,815	)		7,274,480		(286,770	)
Mortgage backed and asset backed securities		9,549,515		(219,946	)		6,228,220		(944,270	)		15,777,735		(1,164,216	)
Total fixed maturities	$	14,800,459	$	(466,864	)	$	33,547,892	$	(4,460,846	)	$	48,348,351	$	(4,927,710	)

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

	March 31, 2024			December 31, 2023
	(unaudited)
Commercial mortgage loans by property type
Condominium	$	231,686		$	377,621
Multi-property		8,089,164			8,923,604
Multi-family		2,335,317			2,855,008
Industrial		1,000,000			1,000,000
Retail/Office		6,971,359			6,482,664
Total commercial mortgages	$	18,627,526		$	19,638,897
Allowance for credit losses		(21,644	)		(21,644	)
Carrying value	$	18,605,882		$	19,617,253

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

	March 31, 2024			December 31, 2023
	(unaudited)
Loan to value ratio
Over 70 to 80%	$	-		$	7,123,604
Over 60 to 70%		3,167,230			3,137,953
Over 50 to 60%		8,611,437			2,322,273
Over 40 to 50%		2,325,780			2,327,436
Over 30 to 40%		-			377,621
Over 20 to 30%		2,873,993			2,689,619
Over 10 to 20%		1,649,086			1,660,391
Total	$	18,627,526		$	19,638,897
Allowance for credit losses		(21,644	)		(21,644	)
Carrying value	$	18,605,882		$	19,617,253

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

	March 31, 2024			December 31, 2023
	(unaudited)
Maturity Date
One year or less	$	13,469,937		$	14,599,568
After one year through five years		5,157,589			5,039,329
Total	$	18,627,526		$	19,638,897
Allowance for credit losses		(21,644	)		(21,644	)
Carrying value	$	18,605,882		$	19,617,253

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

	Three Months Ended March 31, 2024
	(unaudited)
	Specific Allowance		General Allowance
Beginning allowance balance	$	-	$	21,644
Cumulative adjustment for changes in accounting principals		-		-
Charge-offs		-		-
Recoveries		-		-
Change in provision for credit losses		-		-
Ending Allowance	$	-	$	21,644

Investment Income [Table Text Block]

	Three Months Ended March 31,
	2024			2023
	(unaudited)
Fixed maturities	$	1,309,729		$	1,039,423
Mortgages		406,549			509,022
Equity securities		83,165			210,370
Other invested assets		60,055			45,940
Cash and cash equivalents		88,972			14,021
		1,948,471			1,818,776
Less investment expenses		(278,514	)		(313,166	)
	$	1,669,957		$	1,505,610