Defined Benefit Pension Plan (Tables)

12 Months Ended

Jun. 30, 2021

Defined Benefit Pension Plan

Schedule of plan's funded status

	June 30, 2021		June 30, 2020
Change in projected benefit obligation
Projected benefit obligation at beginning of year	$	12,363,236	$	10,601,032
Interest cost		335,720		371,932
Benefits paid		(418,160)		(297,103)
Actuarial (gain) loss		(269,252)		1,687,375
Settlement		—		—
Projected benefit obligation at end of year		12,011,544		12,363,236
Change in plan assets
Fair value of plan assets at beginning of year		9,268,753		9,770,170
Actual return on assets		3,257,972		(204,314)
Employer contributions		—		—
Expenses paid from trust		—		—
Benefits paid		(418,160)		(297,103)
Fair value of plan assets at end of year		12,108,565		9,268,753
Funded status at end of year	$	97,021	$	(3,094,483)

Schedule of amounts recognized in the consolidated balance sheets in accrued interest payable and other liabilities and accumulated other comprehensive loss

	June 30, 2021		June 30, 2020
Pension asset (liability)	$	97,021	$	(3,094,483)

	June 30, 2021		June 30, 2020
Accumulated pension actuarial loss, net of income tax benefit of $1,522,485 and $1,522,485, respectively	$	1,552,435	$	4,853,355

Schedule of components of net periodic pension cost (income) included in compensation and benefits on the statements of operations

	June 30, 2021		June 30, 2020
Interest cost	$	335,720	$	371,932
Expected return on plan assets		(634,851)		(671,118)
Amortization of net actuarial loss		408,547		215,747
Net periodic pension (income) loss	$	109,416	$	(83,439)

Schedule of projected benefit payments

2022	$	1,180,800
2023		703,700
2024		696,200
2025		1,582,100
2026		969,000
2025-2029		4,089,600
	$	9,221,400

Schedule of percentage of the fair value of total Plan assets

	June 30, 2021		June 30, 2020
Cash Equivalents	15.5	%	0.9	%
Equities
Large Cap	29.2	%	48.6	%
Mid Cap	8.4	%	4.3	%
Small Cap	4.5	%	25.3	%
International	6.3	%	4.0	%
Other	16.0	%	8.3	%
Alternatives/Multi-Asset	0.9	%	8.6	%
Fixed Income
Government Securities	4.0	%	—	%
Corporate Bonds	2.4	%
Mutual Funds	12.8	%	—	%
Total	100.0	%	100.0	%