Form 990 for tax year 2023

2a · Program service revenue: Loan Interest

total $78,387,884 · related or exempt $78,387,884

2b · Program service revenue: Loan and Deposit Fees

total $5,336,093 · related or exempt $5,336,093

2c · Program service revenue: Misc Program Income

total $93,901 · related or exempt -$56,676 · unrelated business $150,577

3 · Investment income

total $9,029,113 · excluded $9,029,113

11b · Fees: legal

total $8,654

11c · Fees: accounting

total $102,052

12 · Advertising and promotion

total $509,992

13 · Office expenses

total $3,571,867

14 · Information technology

total $1,465,953

16 · Occupancy

total $3,011,162

17 · Travel

total $457,916

19 · Conferences, conventions and meetings

total $38,060

20 · Interest

total $20,922,701

22 · Depreciation, depletion and amortization

total $1,818,015

23 · Insurance

total $301,935

24a · Other expenses: Provision for Loan Loss

total -$1,012,430 · management and general -$1,012,430

24b · Other expenses: Staffing Reimbursement

total $24,432,469 · management and general $24,432,469

24c · Other expenses: Loan Servicing

total $2,664,031 · program services $2,664,031

24d · Other expenses: Debit & Credit Card

total $2,228,298 · program services $2,228,298

24e · All other expenses

total $2,575,589

1 · Cash, non-interest-bearing

beginning of year $2,076,469 · end of year $6,554,197

2 · Savings and temporary cash investments

beginning of year $197,331,780 · end of year $142,695,814

4 · Accounts receivable

beginning of year $19,417,784 · end of year $16,657,286

7 · Other notes and loans receivable

beginning of year $1,490,440,641 · end of year $1,492,372,620

9 · Prepaid expenses and deferred charges

beginning of year $640,415 · end of year $750,851

10a · Land, buildings and equipment: cost or other basis

$63,910,665

10b · Land, buildings and equipment: accumulated depreciation

$9,039,694

10c · Land, buildings and equipment, net

beginning of year $49,217,906 · end of year $54,870,971

11 · Investments: publicly traded securities

beginning of year $12,609,045 · end of year $10,565,422

12 · Investments: other securities

beginning of year $823,300 · end of year $1,421,300

15 · Other assets

beginning of year $39,877,873 · end of year $33,801,402

17 · Accounts payable and accrued expenses

beginning of year $23,377,526 · end of year $37,359,303

23 · Secured mortgages and notes payable

beginning of year $2,809,252 · end of year $2,724,525

24 · Unsecured notes and loans payable

beginning of year $243,000,000 · end of year $243,000,000

25 · Other liabilities

beginning of year $1,295,455,313 · end of year $1,237,342,832

31 · Retained earnings, endowment or other funds

beginning of year $247,793,122 · end of year $239,263,203