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RECEIVABLE FROM AND PAYABLE TO RELATED PARTIES (Tables)
 9 Months Ended
Sep. 30, 2021
Related Party Transactions [Abstract]  
The advisory fees and cost reimbursements paid to Pillar, TCI and related parties are detailed below

The Advisory agreement provides for Pillar or a related party of Pillar to receive fees and cost reimbursements as defined in Part III, Item 10. Directors, Executive Officers and Corporate Governance – The Advisor. Cost reimbursements are allocated based on the relative market values of the Company’s assets. The Company and Pillar entered into an Advisory Agreement and Cash Management Agreement to further define the administration of the Company’s day-to-day investment operations, relationship contacts, flow of funds and deposit and borrowing of funds. The advisory fees and cost reimbursements paid to Pillar, TCI and related parties are detailed below (dollars in thousands):  

 

            
   Period Ended
September 30,
   2021  2020
Fees:      
Advisory  $599   $574 
Net income   250    249 
   $849   $823 
Other Expense:          
Cost reimbursements  $220   $190 
Revenue:          
Interest received  $3,697   $4,071 
The table below reflects the various transactions between IOR, Pillar, and TCI

The table below reflects the various transactions between IOR, Pillar, and TCI (dollars in thousands):

 

   TCI
   2021  2020
Balance, December 31,  $90,526   $86,221 
Cash transfers   4,314    2,307 
Advisory fees   (599)   (574)
Net income fee   (250)   (249)
Cost reimbursements   (220)   (190)
Expenses Paid by Advisor   (2)   (3)
Interest income   2,664    2,725 
Income Tax   (768)   (762)
AMT Credit   162    — 
Balance, September 30,  $95,827   $89,475