Members' Capital

12 Months Ended

Dec. 31, 2014

Partners' Capital Notes [Abstract]

Partners' Capital Notes Disclosure [Text Block]

(7) Members’ Capital –

For the years ended December 31, 2014 and 2013, the Company declared distributions of $1,222,108 and $944,327, respectively. The Limited Members received distributions of $1,191,000 and $915,997 and the Managing Members received distributions of $31,108 and $28,330 for the years, respectively. The Limited Members' distributions represented $0.67 and $0.51 per LLC Unit outstanding using 1,776,144 and 1,784,275 weighted average Units in 2014 and 2013, respectively. The distributions represented $0.67 and $0.28 per Unit of Net Income and $0 and $0.23 per Unit of return of contributed capital in 2014 and 2013, respectively.

As part of the distributions discussed above, the Company distributed net sale proceeds of $277,778 in 2014. The Limited Members received distributions of $275,000 and the Managing Members received distributions of $2,778 for the year. The Limited Members’ distributions represented $0.16 per Unit.

The Company may repurchase Units from Limited Members who have tendered their Units to the Company. Such Units may be acquired at a discount. The Company will not be obligated to purchase in any year more than 2% of the total number of Units outstanding on January 1 of such year. In no event shall the Company be obligated to purchase Units if, in the sole discretion of the Managing Members, such purchase would impair the capital or operation of the Company.

During 2014, the Company repurchased a total of 9,128.5 Units for $58,477 from six Limited Members in accordance with the Operating Agreement. During 2013, the Company repurchased a total of 12,200.0 Units for $85,500 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 $1,808 and $2,645 in 2014 and 2013, respectively.