Members' Capital

6 Months Ended

Jun. 30, 2018

Partners' Capital Notes [Abstract]

Partners' Capital Notes Disclosure [Text Block]

(6)  Members’ Capital –

For the six months ended June 30, 2018 and 2017, the Company declared distributions of $612,372 and $615,553, respectively.  The Limited Members received distributions of $594,001 and $598,501 and the Managing Members received distributions of $18,371 and $17,052 for the periods, respectively.  The Limited Members' distributions represented $25.17 and $25.08 per LLC Unit outstanding using 23,595 and 23,867 weighted average Units in 2018 and 2017, respectively.  The distributions represented $10.69 and $9.80 per Unit of Net Income and $14.48 and $15.28 per Unit of return of contributed capital in 2018 and 2017, respectively.

As part of the distributions discussed above, the Company distributed net sale proceeds (from property sales completed in 2014) of $70,707 in 2017.  The Limited Members received distributions of $70,000 and the Managing Members received distributions of $707 for the periods.  The Limited Members’ distributions represented $2.94 per Unit for the periods.

On April 1, 2018, the Company repurchased a total of 125.42 Units for $72,773 from four Limited Members in accordance with the Operating Agreement.  On April 1, 2017, the Company repurchased a total of 122.40 Units for $73,273 from five Limited Members.  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 $2,250 and $2,266 in 2018 and 2017, respectively.