Manager and Other Related Parties (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Accounts, Notes, Loans and Financing Receivable

Formation loan transactions for 2021 and 2020 are presented in the following table ($ in thousands).


	2021			2020
Balance, January 1	$	3,812		$	3,948
Payments received from RMC		(405	)		(119	)
Early withdrawal penalties applied		(19	)		(17	)
Balance, December 31	$	3,388		$	3,812

Schedule of Unit Redemptions

Redemptions of members’ capital for 2021 and 2020 are presented in the following table ($ in thousands).


Redemptions	2021		2020
Without penalty	$	3,983	$	2,664
With penalty		878		606
Total	$	4,861	$	3,270
Early withdrawal penalties	$	35	$	31

Summary of Organization and Offering Expenses

Unallocated O&O transactions for the years ended December 31, 2021 and 2020 are summarized in the following table ($ in thousands).


	2021			2020
Balance, January 1	$	1,858		$	2,260
O&O expenses allocated		(303	)		(321	)
O&O expenses paid by RMC(1)		(81	)		(67	)
Early withdrawal penalties applied (2)		(16	)		(14	)
Balance, December 31	$	1,458		$	1,858

(1)

RMC is obligated per the Operating Agreement to repay RMI IX for the amount of unallocated O&O expenses attributed to a member’s capital account if the member redeems prior to the 40 quarterly allocations. RMC estimated its future obligation to repay unallocated O&O expenses on scheduled redemptions as of December 31, 2021, to be approximately $28,000, which may be offset in part by early withdrawal penalties collected in future periods.

(2)

The O&O expenses component of early withdrawal penalties are applied as a reduction to O&O expenses to be repaid by RMC to members’ capital on scheduled redemptions. The amounts credited are determined by the ratio between the amount of the formation loan and the amount of offering costs incurred by the company.