XML 22 R3.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED STATEMENTS OF OPERATIONS AND CHANGES IN MEMBER'S EQUITY (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Resort revenues $ 12,686,698 $ 13,974,097
Costs and expenses:    
Operating costs and expenses 4,805,935 5,259,724
General and administrative 5,802,071 5,605,706
Depreciation and amortization 530,881 824,256
Total costs and expenses 11,138,887 11,689,686
Operating income 1,547,811 2,284,411
Interest expense, net (16,586) (4,143)
Net Income 1,531,225 2,280,268
Member's equity, beginning of period 38,850,155 41,581,466
Member's distributions (2,140) (1,609,676)
Member's equity, end of period 40,379,240 42,252,058
Distribution Fund [Member] | Innisbrook Rental Pool Lease Operation [Member]
   
GROSS REVENUES 3,592,002 4,074,661
DEDUCTIONS:    
Agents' commissions 116,579 114,366
Credit card fees 101,780 114,458
Audit fees 15,000 15,000
Linen replacements 13,060 27,751
Rental pool complimentary fees 7,197 8,682
Total Operating Expenses 253,616 280,257
ADJUSTED GROSS REVENUES 3,338,386 3,794,404
AMOUNT RETAINED BY LESSEE (2,003,031) (2,276,642)
GROSS INCOME DISTRIBUTION 1,335,355 1,517,762
ADJUSTMENTS TO GROSS INCOME DISTRIBUTION:    
General pooled expense (1,879) (1,893)
Corporate complimentary occupancy fees 3,641 5,100
Occupancy fees (368,006) (426,305)
Advisory Committee expenses (29,206) (32,988)
NET INCOME DISTRIBUTION 939,905 1,061,676
ADJUSTMENTS TO NET INCOME DISTRIBUTION:    
Occupancy fees 368,006 426,305
Hospitality suite fees 1,114 793
Associate room fees 15,876 7,497
AVAILABLE FOR DISTRIBUTION TO PARTICIPANTS $ 1,324,901 $ 1,496,271