OTHER INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2020

Investments, All Other Investments [Abstract]

Investment Holdings, Schedule of Investments

The Company’s other investments are summarized below.

	Carrying values as of December 31,
Investment Focus	2020		2019
Real estate and related	$	3,061,000	$	3,378,000
Diversified businesses		1,844,000		2,043,000
Technology and communications		-		130,000
Other (private bank)		35,000		35,000
Totals	$	4,940,000	$	5,586,000

Investment Income

Income from other investments is summarized below (excluding other than temporary impairment loss):

	2020			2019
Real estate and related (a)	$	252,000			668,000
Diversified businesses (b)		49,000			113,000
Technology and related		17,000			-
(Loss) income from investment in 49% owned affiliate (c)		(15,000	)		25,000
Total income from other investments	$	303,000		$	806,000

(a)          The gains in 2020 and 2019 consist of various cash distributions primarily from investments owning real estate and related investments and diversified businesses which made cash distributions from the sale or refinancing of operating companies or properties. During the year ended December 31, 2020, we received cash distributions from other investments of approximately $749,000. In 2020, we received a total of approximately $123,000 from a partnership which sold the remaining of its two rental apartments in Atlanta, Georgia and we recognized a gain of $123,000 (the other rental apartment was sold in December 2019 at a gain of $109,000 and we had no remaining basis in the second apartment building). In 2020, we received a total of approximately $65,000 from investments in two collateralized mortgage entities. This included a $31,000 profit distribution from the satisfaction of one residential mortgage and regular quarterly 8% preferred returns of approximately $34,000. The remaining gains from real estate and related investments were from distributions made in excess of our carrying value. The gains in 2019 primarily consisted of $429,000 from a partnership which sold its sole asset, a multifamily residential property located in Austin, Texas.

(b)          The gain from investments in diversified businesses in 2020 primarily consists of $43,000 in distributions from a private equity fund in excess of our carrying value. The gains in 2019 primarily consists $66,000 from our redemption of a stock fund and cash distributions from various investments in partnerships owning diversified businesses which made cash distributions in excess of their carrying value.

(c)          The increased net loss in 2020 as compared to 2019 from the Company’s 49% owned affiliate, T.G.I.F. Texas, Inc. (“TGIF”) was primarily due to less interest income earned by TGIF due to lower loan balances outstanding and lower interest rates. In 2020 and 2019 TGIF declared and paid a cash dividend of which the Company’s portion was approximately $221,000 in each year. These dividends were recorded as reduction in the investment carrying value as required under the equity method of accounting for investments (reference is made to Note 6, Investment in Affiliate).

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value

The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of December 31, 2020 and 2019, aggregated by investment category and the length of time that investments have been in a continuous loss position:

	As of December 31, 2020
	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 diversified businesses	$	576,000	$	(131,000	)	$	-		-		576,000		(131,000	)
Total	$	576,000	$	(131,000	)	$	-	$	-	$	576,000	$	(131,000	)

	As of December 31, 2019
	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 real estate and related	$	169,000	$	(52,000	)	$	-	$	-		$	169,000	$	(52,000	)
Partnerships owning investments in diversified businesses		363,000		(57,000	)		188,000		(45,000	)		551,000		(102,000	)
Total	$	532,000	$	(109,000	)	$	188,000	$	(45,000	)	$	720,000	$	(154,000	)