2.4.0.8007 - Disclosure - Organizationtruefalsefalse1falsefalsefalsec4_From1Jan2013To30Jun2013http://www.sec.gov/CIK0001326321duration2013-01-01T00:00:002013-06-30T00:00:001true1us-gaap_AccountingPoliciesAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false2us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div style="text-align: justify; font-weight: bold; font-family: Times New Roman; font-size: 12.0pt;">
<font>(2) Organization –</font>
</div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;">
<font>AEI Income & Growth Fund 26 LLC
(“Company”), a Limited Liability Company, was
formed on March 14, 2005 to acquire and lease commercial
properties to operating tenants. The Company's operations are
managed by AEI Fund Management XXI, Inc. (“AFM”),
the Managing Member. Robert P. Johnson, the President and
sole director of AFM, serves as the Special Managing Member.
AFM is a wholly owned subsidiary of AEI Capital Corporation
of which Mr. Johnson is the majority shareholder. AEI Fund
Management, Inc. (“AEI”), an affiliate of AFM,
performs the administrative and operating functions for the
Company.</font>
</div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;">
<font>The terms of the offering called for a subscription
price of $10 per LLC Unit, payable on acceptance of the
offer. The Company commenced operations on April 3, 2006
when minimum subscriptions of 150,000 LLC Units ($1,500,000)
were accepted. The offering terminated October 19, 2007,
when the extended offering period expired. The Company
received subscriptions for 1,832,736 Units. Under the terms
of the Operating Agreement, the Limited Members and Managing
Members contributed funds of $18,327,360 and $1,000,
respectively. The Company shall continue until
December 31, 2055, unless dissolved, terminated and
liquidated prior to that date.</font>
</div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;">
<font>During operations, any Net Cash Flow, as defined, which
the Managing Members determine to distribute will be
distributed 97% to the Limited Members and 3% to the Managing
Members. Distributions to Limited Members will be made pro
rata by Units.</font>
</div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;">
<font>Any Net Proceeds of Sale, as defined, from the sale or
financing of properties which the Managing Members determine
to distribute will, after provisions for debts and reserves,
be paid in the following manner: (i) first, 99% to the
Limited Members and 1% to the Managing Members until the
Limited Members receive an amount equal to: (a) their
Adjusted Capital Contribution plus (b) an amount equal to
6.5% of their Adjusted Capital Contribution per annum,
cumulative but not compounded, to the extent not previously
distributed from Net Cash Flow; (ii) any remaining balance
will be distributed 90% to the Limited Members and 10% to the
Managing Members. Distributions to the Limited Members will
be made pro rata by Units.</font>
</div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;">
<font>For tax purposes, profits from operations, other than
profits attributable to the sale, exchange, financing,
refinancing or other disposition of property, will be
allocated 97% to the Limited Members and 3% to the Managing
Members. Net losses from operations will be allocated 99% to
the Limited Members and 1% to the Managing Members.</font>
</div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;">
<font>For tax purposes, profits arising from the sale,
financing, or other disposition of property will be allocated
in accordance with the Operating Agreement as follows: (i)
first, to those Members with deficit balances in their
capital accounts in an amount equal to the sum of such
deficit balances; (ii) second, 99% to the Limited Members and
1% to the Managing Members until the aggregate balance in the
Limited Members' capital accounts equals the sum of the
Limited Members' Adjusted Capital Contributions plus an
amount equal to 6.5% of their Adjusted Capital Contributions
per annum, cumulative but not compounded, to the extent not
previously allocated; (iii) third, the balance of any
remaining gain will then be allocated 90% to the Limited
Members and 10% to the Managing Members. Losses will be
allocated 99% to the Limited Members and 1% to the Managing
Members.</font>
</div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;">
<font>The Managing Members are not required to currently fund
a deficit capital balance. Upon liquidation of the Company or
withdrawal by a Managing Member, the Managing Members will
contribute to the Company an amount equal to the lesser of
the deficit balances in their capital accounts or 1.01% of
the total capital contributions of the Limited Members over
the amount previously contributed by the Managing
Members.</font>
</div><br/>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for the general note to the financial statements for the reporting entity which may include, descriptions of the basis of presentation, business description, significant accounting policies, consolidations, reclassifications, new pronouncements not yet adopted and changes in accounting principles.No definition available.false0falseOrganizationUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://aeifunds.com/role/Organization12