For the three months ended June 30,

For the six months ended June 30,

2024

2023

2024

2023

Affiliate Payments

Management fees earned

$

1,107,613

$

1,049,813

$

2,181,922

$

2,081,612

Less: Outside Fees earned

(15,500

)

(125,000

)

(31,571

)

(130,000

)

Base management fees, net

1,092,113

924,813

2,150,351

1,951,612

Incentive fees

682,767

874,854

1,379,270

1,986,060

Total management and incentive fees earned

1,774,880

1,799,667

3,529,621

3,937,672

General and administrative expenses reimbursable to Manager

1,106,965

1,212,210

2,344,755

2,388,586

Total

$

2,881,845

$

3,011,877

$

5,874,376

$

6,326,258