XML 23 R12.htm IDEA: XBRL DOCUMENT v3.20.2
Members' Equity
9 Months Ended
Sep. 30, 2020
Disclosure Text Block Supplement [Abstract]  
Members' Equity Notes Disclosure [Text Block]
(6)  Members’ Equity –

For the nine months ended September 30, 2020 and 2019, the Company declared distributions of $490,565 and $732,771, respectively. The Limited Members received distributions of $480,697 and $712,202 and the Managing Members received distributions of $9,868 and $20,569 for the periods, respectively. The Limited Members' distributions represented $20.52 and $30.37 per LLC Unit outstanding using 23,423 and 23,452 weighted average Units in 2020 and 2019, respectively. The distributions represented $13.31 and $15.40 per Unit of Net Income and $7.21 and $14.97 per Unit of return of contributed capital in 2020 and 2019, respectively.

As part of the distributions discussed above, the Company distributed net sale proceeds of $242,424 and $70,707 in 2020 and 2019, respectively. The Limited Members received distributions of $240,000 and $70,000 and the Managing Members received distributions of $2,424 and $707 for the periods, respectively. The Limited Members’ distributions represented $10.25 and $2.99 per Unit for the periods, respectively.

For the nine months ended September 30, 2020, the Company did not repurchase any Units from the Limited Members. For the nine months ended September 30, 2019, the Company repurchased a total of 12.00 Units for $6,714 from two Limited Members in accordance with the Operating Agreement. The Company acquired these Units using Net Cash Flow from operations. The repurchases increase the remaining Limited Members’ ownership interest in the Company. As a result of these repurchases and pursuant to the Operating Agreement, the Managing Members received distributions of $208 in 2019.