American Church Mortgage Company operates as a real estate investment trust (REIT). It is engaged in the business of making mortgages loans to churches and other non-profit religious organizations throughout the United States. The Company may also invest up to 30% of its Average Invested Assets in mortgage secured debt securities (bonds) issued by churches and other non-profit religious organizations. As of March 30, 2012, the Company made 173 loans to 146 churches. As of December 31, 2011, the Company may borrow up to 300% of its stockholders� equity to make loans. Its business operations are managed by Church Loan Advisors, Inc. (the Advisor). The Company�s mortgage loans (and its purchases of Church Bonds) are funded with available cash resources and with borrowings under a line of credit with a commercial lender or bank.