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AMERICAN CHURCH MORTGAGE CO

church-loans.squarespace.com

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2022 10-Q, filed Aug 15, 2022.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Makes mortgage loans and buys church-issued, mortgage-secured bonds for churches and other nonprofit religious organizations across the United States.

Who Were Their Customers?

Churches and other nonprofit religious organizations borrow from the company; the Advisor markets loans, communicates with prospective borrowers, and processes applications.

How Were They Changing?

Since the FY2021 annual report
Latest quarter: FY2022, the three months to Jun 30, 2022
Net income
▲ +962% (Loss)
vs −$351.4K in
  • Aug 11, 2022 Filed to dissolve and approved an initial shareholder distribution The company ended common-stock registration and approved an initial $2.82-per-share liquidating distribution.
  • Jul 6, 2022 Sold substantially all assets to OSK XII and began winding down The secured investor certificates were paid in full; remaining proceeds are intended to redeem common stock.
  • May 27, 2022 Agreed to sell substantially all assets to OSK XII The purchase price was $26,100,000, subject to adjustments and closing conditions.
  • May 2, 2022 Auditor Wipfli LLP resigned Its 2021 audit report said it could not obtain sufficient valuation evidence for part of the bond portfolio.

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