OTHER INVESTMENTS

3 Months Ended

Mar. 31, 2014

OTHER INVESTMENTS

OTHER INVESTMENTS

4. OTHER INVESTMENTS

As of March 31, 2014, the Company’s portfolio of other investments had an aggregate carrying value of approximately $3.9 million and we have committed to fund approximately $1.3 million as required by agreements with the investees. The carrying value of these investments is equal to contributions less distributions and loss valuation adjustments, if any.

During the three months ended March 31, 2014, we made contributions to other investments of approximately $658,000 primarily in two new investments of $300,000 each. One is a real estate partnership owning residential rental property in Austin, Texas. The other is a private placement by J.P. Morgan to fund a new Bermuda based reinsurance Company. The Company also committed $500,000 to a Delaware partnership sponsored by the Blackstone Group that will participate in the secondary market for private equity fund interests.

Net income from other investments for the three months ended March 31, 2014 and 2013, is summarized below:

	2014		2013
Partnership owning diversified businesses	$	3,000	$	26,000
Partnership owning real estate & related		—		33,000
Income from investment in affiliate  -T.G.I.F. Texas, Inc.		9,000		31,000
Total net income from other investments	$	12,000	$	90,000

The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of March 31, 2014 and December 31, 2013, aggregated by investment category and the length of time that investments have been in a continuous loss position:

	As of March 31, 2014
	Less than 12 Months					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	$	—	$	—		$	358,000	$	(64,000	)	$	358,000	$	(64,000	)
Partnerships owning real estate and related investments		—		—			204,000		(14,000	)		204,000		(14,000	)
Other investments		231,000		(19.000	)		—		—			231,000		(19,000	)
Total	$	231,000	$	(19,000	)	$	562,000	$	(78,000	)	$	793,000	$	(97,000	)

	As of December 31, 2013
	Less than 12 Months				Greater than 12 Months					Total
	Fair		Unrealized				Unrealized					Unrealized
Investment Description	Value		Loss		Fair Value		Loss			Fair Value		Loss
Partnerships owning investments in technology related industries	$	—	$	—	$	346,000	$	(76,000	)	$	346,000	$	(76,000	)
Partnerships owning real estate and related investments		—		—		246,000		(11,000	)		246,000		(11,000	)
Total	$	—	$	—	$	592,000	$	(87,000	)	$	592,000	$	(87,000	)

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 months ended March 31, 2014 and 2013.