Members' Equity

9 Months Ended

Sep. 30, 2021

Disclosure Text Block Supplement [Abstract]

Members' Equity Notes Disclosure [Text Block]

(6)  Members’ Equity –

For the nine months ended September 30, 2021 and 2020, the Company declared distributions of $280,205 and $283,297, respectively. The Limited Members were allocated distributions of $271,799 and $274,798 and the Managing Members were allocated distributions of $8,406 and $8,499 for the periods, respectively. The Limited Members' distributions represented $0.16 per LLC Unit outstanding using 1,698,297 and 1,738,006 weighted average Units in 2021 and 2020, respectively. The distributions represented $0.04 and $0.03 per Unit of Net Income and $0.12 and $0.13 per Unit of return of contributed capital in 2021 and 2020, respectively.

For the nine months ended September 30, 2021, the Company repurchased a total of 59,562.8 Units for $305,367 from eight Limited Members in accordance with the Operating Agreement. The Company acquired these Units using net sales proceeds. For the nine months ended September 30, 2020, the Company did not repurchase any Units from the Limited Members. 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 $9,444 in 2021.