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Variable Interest Entities - Schedule of Assets and Liabilities of the Partnership Conslidated VIE (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Assets:      
Restricted cash $ 16,602,473 $ 9,815,909 $ 41,448,840
Interest receivable, net 7,446,307 8,265,901  
Mortgage revenue bonds, at fair value 26,671,085 21,460,288  
Governmental issuer loans:      
Governmental issuer loans held in trust 226,202,222 222,947,300  
Allowance for credit losses (1,038,000) (1,294,000)  
Governmental issuer loans, net 225,164,222 221,653,300  
Property loans:      
Property loans outstanding principal 57,064,611 122,556,204  
Allowance for credit losses 1,930,000 2,048,000  
Property loans, net 55,134,611 120,508,204  
Real estate assets 4,906,264 4,716,140  
Other assets 49,849,420 43,194,470  
Total Assets [1] 1,579,700,160 1,513,400,702  
Liabilities:      
Accounts payable, accrued expenses and other liabilities 23,480,768 22,958,088  
Debt financing, net 1,093,273,157 1,015,030,066  
Mortgages payable 1,664,347 1,690,000  
Total Liabilities [1] 1,196,267,250 1,081,662,446  
Variable Interest Entities      
Assets:      
Restricted cash 771,606 12,605  
Interest receivable, net 7,089,580 6,920,851  
Mortgage revenue bonds, at fair value 1,013,847,272 883,030,786  
Governmental issuer loans:      
Governmental issuer loans held in trust 219,702,222 222,947,300  
Allowance for credit losses (1,038,000) (1,294,000)  
Governmental issuer loans, net 218,664,222 221,653,300  
Property loans:      
Property loans outstanding principal 48,460,000 108,271,420  
Allowance for credit losses (547,000) (675,000)  
Property loans, net 47,913,000 107,596,420  
Real estate assets 3,796,782 3,606,658  
Other assets 40,038,912 24,999,197  
Total Assets 1,332,121,374 1,247,819,817  
Liabilities:      
Accounts payable, accrued expenses and other liabilities [2] 8,285,369 8,656,003  
Debt financing, net [3] 1,098,530,865 1,018,314,376  
Mortgages payable [4] 1,664,347 1,690,000  
Total Liabilities $ 1,108,480,581 $ 1,028,660,379  
[1] The consolidated balance sheets include assets of consolidated VIEs that can only be used to settle obligations of these VIEs that totaled $1,332,121,374 and $1,247,819,817 as of December 31, 2024 and 2023, respectively. The consolidated balance sheets include liabilities of the consolidated VIEs for which creditors do not have recourse to the general credit of the Partnership that totaled $370,876,249 and $374,992,803 as of December 31, 2024 and 2023, respectively. See Note 3 - Variable Interest Entities for further detail.
[2] Of the amounts reported, $5,112,036 and $5,495,426 are associated with VIEs where the creditor does not have recourse to the general credit of the Partnership as of December 31, 2024 and 2023, respectively.
[3] Of the amounts reported, $364,099,866 and $367,807,377 are associated with VIEs where the creditor does not have recourse to the general credit of the Partnership as of December 31, 2024 and 2023, respectively.
[4] The entire mortgages payable balance is associated with a VIE where the creditor does not have recourse to the general credit of the Partnership as of December 31, 2024 and 2023, respectively.