17.  Partnership Investments

As of June 30, 2022, the Company had invested an aggregate of approximately $19.6 million in four limited liability companies managed by a commercial real estate finance company that provides debt capital solutions to local and regional commercial real estate owners in the Northeastern United States. The Company’s ownership interest in the four limited liability companies ranges from 7.6% to 49%. The Company accounts for these investments at cost because the Company does not control or have significant influence over the investments. The Company’s withdrawal from each limited liability company may only be granted by the manager of such entity. Each limited liability company has elected to be treated as a partnership for income tax purposes.

For the three and six months ended June 30, 2022, the partnerships generated $317,004 and $589,493 of income for the Company.

​

At June 30, 2022, the Company had unfunded partnership commitments totaling approximately $2.7 million.