Members' Capital

9 Months Ended

Sep. 30, 2017

Partners' Capital Notes [Abstract]

Partners' Capital Notes Disclosure [Text Block]

(5)  Members’ Capital –

For the nine months ended September 30, 2017 and 2016, the Company declared distributions of $509,894 and $639,767, respectively.  The Limited Members received distributions of $495,001 and $622,999 and the Managing Members received distributions of $14,893 and $16,768 for the periods, respectively.  The Limited Members' distributions represented $0.28 and $0.36 per LLC Unit outstanding using 1,740,006 and 1,747,618 weighted average Units in 2017 and 2016, respectively.  The distributions represented $0.08 and $0.09 per Unit of Net Income and $0.20 and $0.27 per Unit of return of contributed capital in 2017 and 2016, respectively.

As part of the distributions discussed above, the Company distributed net sale proceeds (from property sales completed in 2015) of $20,202 and $121,212 in 2017 and 2016, respectively.  The Limited Members received distributions of $20,000 and $120,000 and the Managing Members received distributions of $202 and $1,212 for the periods, respectively.  The Limited Members’ distributions represented $0.01 and $0.07 per Unit for the periods, respectively.

On April 1, 2017, the Company repurchased a total of 6,000.0 Units for $36,332 from three Limited Members in accordance with the Operating Agreement.  On April 1, 2016, the Company repurchased a total of 10,835.5 Units for $75,397 from six 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 $1,124 and $2,332 in 2017 and 2016, respectively.