Related Party Transactions

12 Months Ended

Dec. 31, 2018

10.

Related Party Transactions

Amounts due from related parties as of December 31 are comprised of the following:

	2018		2017
Saddlebrook Resort Condominium Association, Inc.	$	123,324	$	159,185
Saddlebrook International Sports, LLC		569,224		402,456
Dempsey Resort Management, Inc.		4,608		4,608
Saddlebrook Properties LLC		5,463		5,325
Saddlebrook Realty, Inc.		1,235,382		1,059,096
Saddlebrook Investments, Inc.		19,508		19,508
Other		8,947		3,951
	$	1,966,456	$	1,654,129

Amounts due to related parties as of December 31 are comprised of the following:

	2018		2017
Saddlebrook Holdings, Inc.	$	14,698,670	$	11,897,345
	$	14,698,670	$	11,897,345

Saddlebrook Holdings, Inc. (“SHI”) the Company’s parent company advanced SRI in the amount of $2,801,325 and $1,008,211 during the year ended December 31, 2018 and 2017, respectively.

Saddlebrook International Tennis, Inc. (“SIT”), which is solely owned by SHI, owns a 70% interest in Saddlebrook International Sports, LLC (“SIS”) which operates a tennis training facility and preparatory school at the resort. SIS owns 10 condominium units at the Resort, of which 2 participate in the Rental Pool Operation. The Company received revenue from SIS for use of its facilities and services provided to SIS and its guests, which amounted to approximately $1,885,000 and $1,816,000 for the years ended December 31, 2018 and 2017 respectively. The Company had amounts due from SIS which amounted to $569,224 and $402,456 for the years ended December 31, 2018 and 2017 respectively.

In October 2013, the Company entered into a rental agreement with SIT for certain equipment used by SRI in operations. The terms of the agreement include 48 monthly payments of $8,712 which began in October 2013.

Saddlebrook Investments, Inc. is a broker/dealer for sales of Saddlebrook Resort condominium units. Saddlebrook Realty, Inc. is a broker for the sale of other general real estate. These companies are solely owned by a shareholder of the Company’s parent.

Dempsey and Daughters, Inc. hold certain tracts of real estate and own 33 individual condominium units at the Resort, 22 of which participate in the Rental Pool Operation. This company is solely owned by SHI.

The Company performs certain accounting and property management activities on behalf of the Saddlebrook Resort Condominium Association (the “Association”) and is reimbursed for expenses paid on behalf of the Association. Expenses paid on behalf of and services provided to the Association amounted to approximately $1,438,571 and $1,654,000 for each of the years ended December 31, 2018 and 2017, respectively.

Other related party receivables and payables consist of transactions with several other entities, along with receivables from employees for resort charges and travel advances.