5. OTHER INVESTMENTS

3 Months Ended

Mar. 31, 2015

OTHER INVESTMENTS

OTHER INVESTMENTS

5. OTHER INVESTMENTS

As of March 31, 2015, the Company’s portfolio of other investments hadan aggregate carrying value of approximately $3.7 million and we have committed to fund approximately $2.1 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, 2015,we made contributions to other investments of approximately $536,000 primarily in two newreal estate investments. Onefor $300,000 is a real estate partnership owning residential rental property in San Antonio, Texas and the other for $100,000 is a real estate partnership owning a second mortgage on a property located in Miami, Florida.

During the three months ended March 31, 2015, we received distributions from other investments of approximately $680,000 primarily from two real estate investments which sold property. We received $348,000 from our investment in a commercial building located near the Company’s offices purchased in 2005 with a carrying value as of March 31, 2015 of $376,000. We also received $131,000 from our investment in a partnership which sold its rental property in Miami, Florida and distributed the sales proceeds in February 2015.

Net income from other investments for the three months ended March 31, 2015 and 2014, is summarized below:

	2015	2014
Partnership owning real estate & related	$                 45,000	$                       -
Partnership owning diversified businesses	7,000	3,000
Income from investment in affiliate  -T.G.I.F. Texas, Inc.	15,000	9,000
Total net income from other investments	$67,000	$12,000

The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of March 31, 2015 and December 31, 2014, aggregated by investment category and the length of time that investments have been in a continuous loss position:

	As of March 31, 2015
	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	$	—		$         —	$	5,000	$	(12,000	)	$	5,000	$	(12,000	)
Partnerships owning diversified businesses investments		190,000		(10,000)		—		—			190,000		(10,000)
Other (private banks, etc.)		—		—		242,000		(8,000)			242,000		(8,000)
Total	$	190,000	$	(10,000)	$	247,000	$	(20,000	)	$	437,000	$	(30,000	)
	As of December 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		$         —		$         —	$	5,000	$	(11,000	)	$	5,000	$	(11,000	)
Partnerships owning diversified businesses investments		190,000		(10,000)		—		—			190,000		(10,000)
Partnerships owning real estate and related investments		45,000		(30,000)		—		—			45,000		(30,000)
Other (private banks, etc.)		242,000		(8,000)							242,000		(8,000)
Total	$	477,000	$	(48,000)	$	5,000	$	(11,000	)	$	482,000	$	(59,000	)

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, 2015 and 2014.