7): Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Tables)

6 Months Ended

Jun. 30, 2015

Tables/Schedules

Schedule of Financial Instruments Carried at Other Than Fair Value

	Carrying Value	Level 1	Level 2	Level 3	Total Estimated Fair Value
Assets
Mortgage loans:
Residential	$       48,115,894	$             -	$             -	$       51,322,839	$       51,322,839
Residential construction	28,242,695	-	-	28,242,695	28,242,695
Commercial	34,389,307	-	-	36,043,711	36,043,711
Mortgage loans, net	$     110,747,896	$             -	$             -	$     115,609,245	$     115,609,245
Policy loans	7,095,642	-	-	7,095,642	7,095,642
Other loans	28,392,087	-	-	28,392,087	28,392,087
Short-term investments	21,326,531	-	-	21,326,531	21,326,531
Liabilities
Bank and other loans payable	$     (33,362,912)	$             -	$             -	$     (33,362,912)	$     (33,362,912)

The carrying values and estimated fair values for such financial instruments, and their corresponding placement in the fair value hierarchy, are summarized as follows as of December 31, 2014:

	Carrying Value	Level 1	Level 2	Level 3	Total Estimated Fair Value
Assets
Mortgage loans:
Residential	$       51,876,621	$             -	$             -	$       55,247,638	$       55,247,638
Residential construction	32,971,824	-	-	32,971,824	32,971,824
Commercial	35,201,627	-	-	36,829,266	36,829,266
Mortgage loans, net	$     120,050,072	$             -	$             -	$     125,048,728	$     125,048,728
Policy loans	7,011,012	-	-	7,011,012	7,011,012
Other loans	27,114,416	-	-	27,114,416	27,114,416
Short-term investments	27,059,495	-	-	27,059,495	27,059,495
Liabilities
Bank and other loans payable	$     (28,989,008)	$             -	$             -	$     (28,989,008)	$     (28,989,008)