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Profit Sharing Plan
3 Months Ended
Mar. 31, 2012
Compensation and Retirement Disclosure [Abstract]  
Compensation and Employee Benefit Plans [Text Block]

12. Profit Sharing Plan

 

Fourth Floor Management Corp., a 100% owned subsidiary of Presidential Realty Corporation that managed all the Company’s properties, has a profit sharing plan which covers substantially all of its employees. The plan provides for annual contributions up to a maximum of 5% of the employees’ annual compensation. The Company made a $9,076 contribution to the plan in March, 2011 for the 2010 plan. The plan was terminated in 2011 and no future liability exists.