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 $340,208 and $339,790, respectively.  The Limited Members received distributions of $330,002 and $330,000 and the Managing Members received distributions of $10,206 and $9,790 for the periods, respectively.  The Limited Members' distributions represented $0.19 and $0.19 per LLC Unit outstanding using 1,738,006 and 1,741,006 weighted average Units in 2018 and 2017, respectively.  The distributions represented $0.04 per Unit of Net Income and $0.15 per Unit of return of contributed capital in both years.

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

During the first six months of 2018, the Company did not repurchase any Units from the Limited Members. 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.  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 in 2017.