5. OTHER INVESTMENTS

9 Months Ended

Sep. 30, 2013

Investments, All Other Investments [Abstract]

5. OTHER INVESTMENTS

As of September 30, 2013, the Company’s portfolio of other investments had an aggregate carrying value of approximately $3.3 million and we have committed to fund approximately $952,000 as required by agreements with the investees. The carrying value of these investments is equal to contributions less distributions and loss valuation adjustments. During the nine months ended September 30, 2013, cash distributions received from other investments totaled approximately $447,000 from several investments in privately owned partnerships owning diversified operating companies. During the same nine months ended September 30, 2013, the Company contributed an additional $71,000 toward fulfilling capital commitments on existing investments.

Net income from other investments for the three and nine months ended September 30, 2013 and 2012, is summarized below:

	Three months ended September 30,				Nine months ended September 30,
Description	2013		2012		2013		2012
Partnerships owning diversified businesses	$	63,000	$	7,000	$	104,000	$	38,000
Partnerships owning real estate and related		—		—		40,000		255,000
Income from investment in 49% owned affiliate (T.G.I.F. Texas, Inc.)		24,000		13,000		86,000		44,000
Total net income from other investments (excluding other than temporary impairment losses)	$	87,000	$	20,000	$	230,000	$	337,000

The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of September 30, 2013 and December 31, 2012, aggregated by investment category and the length of time that investments have been in a continuous loss position:

	As of September 30, 2013
	12 Months or less				Greater than 12 Months					Total
Investment Description	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Partnerships owning investments in technology related industries		—		—	$	345,000	$	(121,000	)	$	345,000	$	(121,000	)
Partnerships owning real estate and related investments		—		—		233,000		(48,000	)		233,000		(48,000	)
Total		—		—	$	578,000	$	(169,000	)	$	578,000	$	(169,000	)

	As of December 31, 2012
	12 Months or less					Greater than 12 Months					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
Investment Description	Value		Loss			Value		Loss			Value		Loss
Partnerships owning investments in technology related industries	$	11,000	$	(10,000	)	$	374,000	$	(69,000	)	$	384,000	$	(79,000	)
Partnerships owning diversified businesses		—		—			241,000		(5,000	)		241,000		(5,000	)
Partnerships owning real estate and related investments		—		—			231,000		(49,000	)		231,000		(49,000	)
Total	$	11,000	$	(10,000	)	$	846,000	$	(123,000	)	$	856,000	$	(133,000	)

When evaluating the investments for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer and any changes thereto, and the Company’s intent to sell, or whether it is more likely than not it will be required to sell, the investment before recovery of the investment’s amortized cost basis.

In accordance with ASC Topic 320-10-65, Recognition and Presentation of Other-Than-Temporary Impairments, there were no OTTI impairment valuation adjustments for the three and nine months ended September 30, 2013.

In June 2012 the Company recorded a loss of approximately $28,000 from an investment in a partnership which operates and leases executive suites in Miami, Florida. The Company has funded $120,000 to date in this investment and the losses incurred were associated with the initial start up of the venture in 2010.