Related-Party Transactions

12 Months Ended

Dec. 31, 2020

Related Party Transactions

Related-Party Transactions

16. Related-Party Transactions

The majority stockholders of RIHI, specifically the Company’s current Chairman and Co-Founder and the Company’s Vice Chair and Co-Founder make a golf course they own available to the Company for business purposes. The Company used the golf course and related facilities for business purposes at minimal charge during the years ended December 31, 2019 and 2018. Additionally, the Company recorded expense of $0.5 million for the value of the benefits provided to Company personnel and others for the complimentary use of the golf course during each year ended December 31, 2019 and 2018, with an offsetting increase in additional paid in capital. During 2020, due to COVID-19, the Company did not utilize the golf course and related facilities.

The Company also provided support services to the Marketing Funds prior to their acquisition on January 1, 2019. See Note 6, Acquisitions, and Note 2, Summary of Significant Accounting Policies, for additional information.