FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value, by Balance Sheet Grouping [Table Text Block]

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

	Fair value measurement at reporting date using
	Total		Quoted Prices in Active		Significant Other		Significant
	September 30,		Markets for Identical Assets		Observable Inputs		Unobservable Inputs
Description	2015		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash equivalents:
Money market mutual funds	$	1,548,000	$	1,548,000	$	—	$	—
U.S. T-bills		9,483,000		9,483,000		—
Marketable securities:
Corporate debt securities		738,000		—		738,000		—
Marketable equity securities		9,780,000		9,780,000		—		—
Total assets	$	21,549,000	$	20,811,000	$	738,000	$	—

	Fair value measurement at reporting date using
	Total		Quoted Prices in Active		Significant Other		Significant
	December 31,		Markets for Identical Assets		Observable Inputs		Unobservable Inputs
Description	2014		(Level 1)		(Level 2)		(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	$	—

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

This category includes other investments which are measured using significant other observable inputs (Level 2) and significant unobservable inputs (Level 3):

	Fair value measurement at reporting date using
									Total losses
									for the
									three and
									nine
	Total September		Quoted Prices in Active		Significant Other		Significant		months
	30		Markets for Identical Assets		Observable Inputs		Unobservable Inputs		ended
Description	2015		(Level 1)		(Level 2) (a)		(Level 3) (b)		9/30/2015
Assets:
Other investments by investment focus:
Technology & Communication	$	284,000	$	—	$	284,000	$	—	$	—
Diversified businesses		1,720,000		—		1,720,000		—		—
Real estate and related		1,190,000		—		1,053,000		137,000		—
Other		635,000		—		—		635,000		—
Total assets	$	3,829,000	$	—	$	3,057,000	$	772,000	$	—

	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

(a)

Other investments measured at fair value on a non-recurring basis include investments in certain entities that calculate net asset value per share (or its equivalent such as member units or an ownership interest in partners’ capital to which a proportionate share of net assets is attributed, “NAV”). This class primarily consists of private equity funds that have varying investment focus. These investments can never be redeemed with the funds. Instead, the nature of the investments in this class is that distributions are received through the liquidation of the underlying assets of the fund. If these investments were held it is estimated that the underlying assets of the fund would be liquidated over 5 to 10 years. As of September 30, 2015, it is probable that all of the investments in this class will be sold at an amount different from the NAV of the Company’s ownership interest in partners’ capital. Therefore, the fair values of the investments in this class have been estimated using recent observable information such as audited financial statements and/or statements of partners’ capital obtained directly from investees on a quarterly or other regular basis. During the nine months ended September 30, 2015, the Company received distributions of approximately $517,000 from this type of investment primarily from investments in diversified businesses and real estate. During the nine months ended September 30, 2015, the Company made contributions totaling approximately $1.2 million in this type of investment. As of September 30, 2015, the amount of the Company’s unfunded commitments related to the aforementioned investments is approximately $2.2 million.

(b)

Other investments above which are measured on a nonrecurring basis using Level 3 unobservable inputs consist of investments primarily in commercial real estate in Florida through private partnerships and three investments in the stock of private banks in Florida and Texas. The Company does not know when it will have the ability to redeem the investments and has categorized them as a Level 3 fair value measurement. The Level 3 real estate and related investments of approximately $377,000 include one investment in a commercial building located near the Company’s offices purchased in 2005 with a carrying value as of September 30, 2015 of $39,000. In January, April and August 2015, the Company received distributions totaling $686,000 from this investment. Investments in this category are measured using primarily inputs provided by the managing member of the partnerships with whom the Company has done similar transactions in the past and is well known to management. The fair values of these real estate investments have been estimated using the net asset value of the Company’s ownership interest in partners’ capital. The other Level 3 investments include investments in private bank stocks and a reinsurance company. The fair values of these other Level 3 investments have been estimated using the cost method less distributions received and other than temporary impairments. This investment is valued using inputs provided by the management of the investee.

Fair Value Investment Rollforward With in Level3 [Table Text Block]

The following table includes a roll-forward of the investments classified within level 3 of the fair value hierarchy for the nine months ended September 30, 2015:

	Level 3 Investments:
Balance at January 1, 2015	$	1,568,000
Investment in Level 3 investments		110,000
Distributions from Level 3 investments, net of gains		(906,000)
Balance at September 30, 2015	$	772,000