Old Order Amish Helping Program

“The old order amish church appoints the members of the advisory board. The advisory board generates the appointments and holds the elections for the board of directors.”

“The 990 is reviewed by the administrator before being submitted to the irs.”

“The organization makes its 990, financial statements, and 1023 application available to the general public upon request. In addition, the organization is required to register annually with the pa securities commission. A copy of the financial statement is included in the annual prospectus.”

“The program borrows funds from members of the old order amish community to re-lend the funds to younger/needy members of the community at a low interest rate. By operating a helping program, the religious beliefs which are evident in the cultural traditions and lifestyles of the old order amish are advanced to young amish persons, thereby allowing them to establish themselves in the old order amish community. Central to the organization's purpose is the religious mandate of sharing and helping others within the community and the interreliance of those within the old order amish community.”

“During the year ended july 31, the program extend new loans to young/needy amish persons, thereby allowing them to acquire farms or other agricultural financing needs to become established within the old order amish community. ------ the program accepts investments from members of the amish community. The program returned an investment of 2.70% on all invested dollars. The interest earned could be received in check or added into the original investment balance at the direction of the investor. The investments are all due on demand within 60 days of request. ----- the program uses these investment funds to assist new amish agricultural business activities as defined above. The loan agreements written are secured by the underlying real estate and are amortized over a 20 year repayment plan with a 10 year balloon. The interest rate was 3.00%. ----- all loans provided in support of new agricultural activities are approved by the independent board of directors. ----- members of the board of directors and their families are permitted to invest in the organization or receive loans from the organization consistent with the same terms of all recipients of the program.”

“Increase in allowance for credit losses -64,453”