XML 20 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED STATEMENTS OF OPERATIONS AND CHANGES IN MEMBER'S EQUITY (USD $)
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Resort revenues $ 12,795,604 $ 11,937,166
Costs and expenses:    
Operating costs and expenses 4,950,479 4,719,813
General and administrative 5,235,248 5,180,563
Depreciation and amortization 833,664 861,133
Total costs and expenses 11,019,391 10,761,509
Operating income 1,776,213 1,175,657
Interest expense, net (4,941) (5,630)
Net income 1,771,272 1,170,027
Member's equity, beginning of period 44,921,298 48,403,525
Member's distributions (1,501,631) (1,376,053)
Member's equity, end of period 45,190,939 48,197,499
Distribution Fund [Member] | Innisbrook Rental Pool Lease Operation [Member]
   
GROSS REVENUES 3,573,972 3,363,227
DEDUCTIONS:    
Agents' commissions 97,401 99,818
Credit card fees 100,071 94,815
Audit fees 15,000 15,000
Linen replacements 30,569 24,552
Rental pool complimentary fees 6,482 4,890
Total Operating Expenses 249,523 239,075
ADJUSTED GROSS REVENUES 3,324,449 3,124,152
AMOUNT RETAINED BY LESSEE (1,994,669) (1,874,491)
GROSS INCOME DISTRIBUTION 1,329,780 1,249,661
ADJUSTMENTS TO GROSS INCOME DISTRIBUTION:    
General pooled expense (1,345) (1,419)
Corporate complimentary occupancy fees 4,464 2,528
Occupancy fees (401,263) (368,624)
Advisory Committee expenses (30,787) (26,236)
NET INCOME DISTRIBUTION 900,849 855,910
ADJUSTMENTS TO NET INCOME DISTRIBUTION:    
Occupancy fees 401,263 368,624
Hospitality suite fees 812 788
Associate room fees 17,297 16,170
AVAILABLE FOR DISTRIBUTION TO PARTICIPANTS $ 1,320,221 $ 1,241,492