6. FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2015

FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of assets and liabilities measured at fair value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis are summarized below:

	Fair value measurement at reporting date using
Description	Total March31, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents:
Money market mutual funds	$	1,959,000	$	1,959,000		$          —		$             —
U.S. T-bills		2,000,000		2,000,000		—		—
Marketable securities:
Corporate debt securities		909,000		—		909,000		—
Marketable equity securities		10,599,000		10,599,000		—		—
Total assets	$	15,467,000	$	14,558,000	$	909,000	$	—

	Fair value measurement at reporting date using
Description	Total December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents:
Time deposits	$	55,000	$	—	$	55,000		$             —
Money market mutual funds		1,206,000		1,206,000		—		—
U.S. T-bills		7,200,000		7,200,000		—
Marketable securities:
Corporate debt securities		1,098,000		—		1,098,000		—
Marketable equity securities		10,692,000		10,692,000		—		—
Total assets	$	20,251,000	$	19,098,000	$	1,153,000	$	—

Schedule of assets and liabilities measured at fair value on a nonrecurring basis

	Fair value measurement at reporting date using
	Total March 31,		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs		Total losses for the three months ended
Description	2015		(Level 1)		(Level 2) (a)		(Level 3) (b)		3/31/2015
Assets:
Other investments by investment focus:
Technology & Communication	$	284,000	$	—	$	284,000	$	—	$	—
Diversified businesses		1,145,000		—		1,145,000		—		—
Real estate and related		1,645,000		—		1,062,000		583,000		—
Other		625,000		—		—		625,000		—
Total assets	$	3,699,000	$	—	$	2,491,000	$	1,208,000	$	—

	Fair value measurement at reporting date using								Total
	Total		Quoted Prices in Active		Significant Other		Significant		losses for
	December 31,		Markets for Identical Assets		Observable Inputs		Unobservable Inputs		year ended
Description	2014		(Level 1)		(Level 2) (a)		(Level 3) (b)		12/31/2014
Assets:
Other investments by investment focus:
Technology & Communication	$	288,000	$	—	$	288,000	$	—	$	11,000
Diversified businesses		1,200,000		—		1,200,000		—		—
Real estate and related		1,680,000		—		737,000		943,000		—
Other		625,000		—		—		625,000		—
Total assets	$	3,793,000	$	—	$	2,225,000	$	1,568,000	$	11,000

Assets and liabilities measured at fair value on a recurring basis are summarized below:

	Fair value measurement at reporting date using
Description	Total March31, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents:
Money market mutual funds	$	1,959,000	$	1,959,000		$          —		$             —
U.S. T-bills		2,000,000		2,000,000		—		—
Marketable securities:
Corporate debt securities		909,000		—		909,000		—
Marketable equity securities		10,599,000		10,599,000		—		—
Total assets	$	15,467,000	$	14,558,000	$	909,000	$	—

	Fair value measurement at reporting date using
Description	Total December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents:
Time deposits	$	55,000	$	—	$	55,000		$             —
Money market mutual funds		1,206,000		1,206,000		—		—
U.S. T-bills		7,200,000		7,200,000		—
Marketable securities:
Corporate debt securities		1,098,000		—		1,098,000		—
Marketable equity securities		10,692,000		10,692,000		—		—
Total assets	$	20,251,000	$	19,098,000	$	1,153,000	$	—

Schedule of roll-forward of the investments classified within level 3

	Level 3 Investments:
Balance at January 1, 2015	$	1,568,000
Investment in Level 3 investments		100,000
Distributions from Level 3 investments, net of gains		(460,000
Balance at March 31, 2015	$	1,208,000