BUSINESS SEGMENT DATA (Tables)

12 Months Ended

Dec. 31, 2018

BUSINESS SEGMENT DATA

Schedule of operations in different segments

	Year Ended
	December 31, 2018		December 31, 2017		December 31, 2016
Revenues:
Income Properties	$	40,075,731	$	31,406,930	$	25,092,484
Commercial Loan Investments		615,728		2,052,689		2,588,235
Real Estate Operations		45,997,141		52,857,359		38,203,748
Total Revenues	$	86,688,600	$	86,316,978	$	65,884,467
Operating Income:
Income Properties	$	31,905,648	$	24,489,187	$	19,887,621
Commercial Loan Investments		615,728		2,052,689		2,588,235
Real Estate Operations		34,483,223		35,281,013		23,155,668
General and Corporate Expense		(25,546,893)		(22,567,310)		(20,407,950)
Other Gains and Income		22,035,666		38		12,758,770
Total Operating Income	$	63,493,372	$	39,255,617	$	37,982,344
Depreciation and Amortization:
Income Properties	$	15,728,095	$	12,272,265	$	7,872,689
Corporate and Other		33,428		42,435		56,654
Total Depreciation and Amortization	$	15,761,523	$	12,314,700	$	7,929,343
Capital Expenditures:
Income Properties	$	108,996,747	$	92,125,062	$	92,434,774
Commercial Loan Investments		—		3,000,000		—
Real Estate Operations		4,658,956		—		—
Golf Operations		94,734		2,373,894		95,513
Corporate and Other		13,775		128,716		19,881
Total Capital Expenditures	$	113,764,212	$	97,627,672	$	92,550,168

	As of
	December 31, 2018		December 31, 2017
Identifiable Assets:
Income Properties	$	492,093,615	$	388,602,721
Commercial Loan Investments		—		11,963,777
Real Estate Operations		35,287,559		43,296,528
Golf Operations-Held for Sale		4,462,477		6,262,634
Corporate and Other		24,486,221		16,004,718
Total Assets	$	556,329,872	$	466,130,378