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Business Segment Data (Tables)
 9 Months Ended
Sep. 30, 2016
Segment Reporting [Abstract]  
Summary of Operations in Different Segments

Information about the Company’s operations in the different segments for the three and nine months ended September 30, 2016 and 2015 is as follows: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

    

September 30,
2016

    

September 30,
2015

    

September 30,
2016

    

September 30,
2015

    

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income Properties

 

$
6,021,331

 

$
5,034,090

 

$
18,483,654

 

$
13,426,817

 

Commercial Loan Investments

 

 
534,212

 

 
546,640

 

 
2,050,507

 

 
1,816,834

 

Real Estate Operations

 

 
4,643,646

 

 
1,748,398

 

 
18,979,164

 

 
3,976,340

 

Golf Operations

 

 
1,001,368

 

 
949,083

 

 
3,877,923

 

 
3,935,076

 

Agriculture and Other Income

 

 
10,388

 

 
19,504

 

 
48,070

 

 
59,181

 

Total Revenues

 

$
12,210,945

 

$
8,297,715

 

$
43,439,318

 

$
23,214,248

 

Operating Income:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income Properties

 

$
4,590,689

 

$
4,036,330

 

$
14,672,265

 

$
11,105,324

 

Commercial Loan Investments

 

 
534,212

 

 
546,640

 

 
2,050,507

 

 
1,816,834

 

Real Estate Operations

 

 
3,386,463

 

 
1,431,785

 

 
14,340,299

 

 
2,755,151

 

Golf Operations

 

 
(301,552)

 

 
(406,386)

 

 
(276,761)

 

 
(266,237)

 

Agriculture and Other Income

 

 
(42,506)

 

 
(31,980)

 

 
(105,529)

 

 
(90,649)

 

General and Corporate Expense

 

 
7,712,203

 

 
(432,949)

 

 
(3,675,088)

 

 
(6,496,935)

 

Total Operating Income

 

$
15,879,509

 

$
5,143,440

 

$
27,005,693

 

$
8,823,488

 

Depreciation and Amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income Properties

 

$
1,866,162

 

$
1,335,214

 

$
5,571,785

 

$
3,413,024

 

Golf Operations

 

 
64,676

 

 
68,712

 

 
201,944

 

 
194,618

 

Agriculture and Other

 

 
14,622

 

 
13,203

 

 
44,657

 

 
36,978

 

Total Depreciation and Amortization

 

$
1,945,460

 

$
1,417,129

 

$
5,818,386

 

$
3,644,620

 

Capital Expenditures:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income Properties

 

$
49,751,977

 

$
25,596,355

 

$
52,604,951

 

$
35,610,312

 

Commercial Loan Investments

 

 

 —

 

 
14,500,000

 

 

 —

 

 
15,394,879

 

Real Estate Operations ($5,744,636 Contributed by Consolidated VIE)

 

 

 —

 

 
11,489,272

 

 

 —

 

 
11,489,272

 

Golf Operations

 

 
4,500

 

 
2,045

 

 
17,661

 

 
108,462

 

Agriculture and Other

 

 
2,465

 

 
17,817

 

 
18,332

 

 
31,223

 

Total Capital Expenditures

 

$
49,758,942

 

$
51,605,489

 

$
52,640,944

 

$
62,634,148

 

 

 

 

 

 

 

 

 

 

 

 

 

As of

 

 

    

September 30,

2016

    

December 31,
2015

 

Identifiable Assets:

 

 

 

 

 

 

 

Income Properties

 

$
265,252,097

 

$
277,519,902

 

Commercial Loan Investments

 

 
24,027,185

 

 
38,487,119

 

Real Estate Operations

 

 
67,255,069

 

 
59,787,157

 

Golf Operations

 

 
2,906,098

 

 
3,607,259

 

Agriculture and Other

 

 
18,103,021

 

 
24,952,207

 

Total Assets

 

$
377,543,470

 

$
404,353,644