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Business Segment Data (Tables)
 12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Summary of Operations in Different Segments

Information about the Company’s operations in different segments for the years ended December 31, 2016, 2015, and 2014 is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended

 

 

    

December 31,
2016

    

December 31,
2015

    

December 31,
2014

 

Revenues:

 

 

 

 

 

 

 

 

 

 

Income Properties

 

$
25,092,484

 

$
19,041,111

 

$
14,969,647

 

Commercial Loan Investments

 

 
2,588,235

 

 
2,691,385

 

 
2,190,924

 

Real Estate Operations

 

 
38,144,347

 

 
15,942,894

 

 
13,492,734

 

Golf Operations

 

 
5,190,394

 

 
5,243,485

 

 
5,125,501

 

Agriculture and Other Income

 

 
59,401

 

 
78,805

 

 
277,831

 

Total Revenues

 

$
71,074,861

 

$
42,997,680

 

$
36,056,637

 

Operating Income:

 

 

 

 

 

 

 

 

 

 

Income Properties

 

$
19,887,621

 

$
15,385,176

 

$
13,015,113

 

Commercial Loan Investments

 

 
2,588,235

 

 
2,691,385

 

 
2,190,924

 

Real Estate Operations

 

 
23,263,036

 

 
11,650,370

 

 
8,630,445

 

Golf Operations

 

 
(396,683)

 

 
(349,600)

 

 
(405,242)

 

Agriculture and Other Income

 

 
(107,368)

 

 
(147,749)

 

 
88,527

 

General and Corporate Expense

 

 
(7,915,254)

 

 
(8,960,273)

 

 
(10,927,261)

 

Total Operating Income

 

$
37,319,587

 

$
20,269,309

 

$
12,592,506

 

Depreciation and Amortization:

 

 

 

 

 

 

 

 

 

 

Income Properties

 

$
7,872,689

 

$
4,898,803

 

$
3,210,028

 

Golf Operations

 

 
266,074

 

 
263,335

 

 
241,134

 

Agriculture and Other

 

 
56,654

 

 
50,759

 

 
39,323

 

Total Depreciation and Amortization

 

$
8,195,417

 

$
5,212,897

 

$
3,490,485

 

Capital Expenditures:

 

 

 

 

 

 

 

 

 

 

Income Properties

 

$
92,434,774

 

$
84,261,324

 

$
43,766,003

 

Commercial Loan Investments

 

 

 —

 

 
15,394,879

 

 
30,208,075

 

Real Estate Operations ($5,744,636 Contributed by Consolidated VIE in 2015)

 

 

 —

 

 
11,489,272

 

 

 —

 

Golf Operations

 

 
95,513

 

 
109,505

 

 
219,199

 

Agriculture and Other

 

 
19,881

 

 
38,714

 

 
140,970

 

Total Capital Expenditures

 

$
92,550,168

 

$
111,293,694

 

$
74,334,247

 

 

 

 

 

 

 

 

 

 

 

 

As of

 

 

    

December 31,

2016

    

December 31,

2015

 

Identifiable Assets:

 

 

 

 

 

 

 

Income Properties

 

$
302,757,565

 

$
277,519,902

 

Commercial Loan Investments

 

 
24,032,885

 

 
38,487,119

 

Real Estate Operations

 

 
58,868,298

 

 
59,787,157

 

Golf Operations

 

 
3,675,842

 

 
3,607,259

 

Agriculture and Other

 

 
19,288,836

 

 
24,952,207

 

Total Assets

 

$
408,623,426

 

$
404,353,644