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Notes to Financial Statements
<br /> Page 7 .
<br /> Level 1 inputs consist of unadjusted quoted prices in the active
<br /> markets for identical assets and have the highest priority, Level 2
<br /> inputs consist of observable inputs other than quoted prices included
<br /> in Level 1, and Level 3 inputs, which have the lowest priority, are
<br /> based on unobservable inputs that reflect the Organization's own
<br /> assumption about the assumptions market participants would use in
<br /> pricing the assets. The Organization uses appropriate evaluation
<br /> techniques based on the available inputs to measure the fair value of
<br /> its investments. When available, the Organization measures fair
<br /> value using Level 1 inputs because they generally provide the most .
<br /> reliable evidence of fair value. Level 3 inputs are only used when
<br /> Level 1 or Level 2.inputs are not available.
<br /> Level 1 Fair Value Measurements
<br /> The fair value of common stocks is based on quoted market price of
<br /> shares held by the Organization at year end.
<br /> Note 4: Property and Equipment
<br /> Property and equipment consist of. the following:
<br /> 2013 2012
<br /> Land $ 1,442,572 $ 1,442,572 '
<br /> Land improvements 373,699 -
<br /> Buildings and facilities 13,649,341 11,173,518
<br /> Building improvements 3,040,389 2,349,326
<br /> Equipment 2,842,736 2,789,957
<br /> Furniture 193,249 170,722
<br /> Vehicles 366',577 387,434
<br /> Construction in progress 64,694 995,510 .
<br /> 21,973,257 _ 19,309,039
<br /> Equipment acquired under
<br /> capital leases 210,344 210,344
<br /> 22,183,601 19,519,383
<br /> Less: Accumulated deprecia-
<br /> tion and amortization ( 9,347,956) (8,143,974)
<br /> S 12.835.645 11,375,409
<br /> Total interest cost incurred during the years ended
<br /> November 30, 2013 and 2012 was $284,609 and $265,795,
<br /> respectively. No interest costs were capitalized during the
<br /> years ended November 30, 2013 and 2012, respectively.
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