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As Of Filer Filing For·On·As Docs:Size 11/13/23 Aei Income & Growth Fund XXII LP 10-Q 9/30/23 30:1.4M |
Document/Exhibit Description Pages Size 1: 10-Q Inline XBRL Document HTML 310K 2: EX-31.1 Certification -- §302 - SOA'02 HTML 14K 3: EX-31.2 Certification -- §302 - SOA'02 HTML 14K 4: EX-32 Section 1350 Certifications HTML 12K 10: R1 Document And Entity Information HTML 61K 11: R2 Balance Sheet HTML 69K 12: R3 Balance Sheet (Parentheticals) HTML 16K 13: R4 Statement of Income HTML 59K 14: R5 Statement of Cash Flows HTML 66K 15: R6 Statement of Changes in Partners' Capital HTML 40K 16: R7 Basis of Accounting HTML 13K 17: R8 Organization HTML 14K 18: R9 Recently Issued Accounting Pronouncements HTML 13K 19: R10 Real Estate Investments HTML 14K 20: R11 Payable to AEI Fund Management, Inc. HTML 13K 21: R12 Partners' Capital HTML 14K 22: R13 Fair Value Measurements HTML 14K 23: R14 Real Estate Investments (Details) HTML 55K 24: R15 Partners' Capital (Details) HTML 35K 25: R9999 Uncategorized Items - aei22-20230930.htm HTML 29K 28: XML IDEA XML File -- Filing Summary XML 41K 26: XML XBRL Instance -- aei22-20230930_htm XML 196K 27: EXCEL IDEA Workbook of Financial Report Info XLSX 34K 5: EX-101.CAL XBRL Calculations -- aei22-20230930_cal XML 57K 6: EX-101.DEF XBRL Definitions -- aei22-20230930_def XML 195K 7: EX-101.LAB XBRL Labels -- aei22-20230930_lab XML 407K 8: EX-101.PRE XBRL Presentations -- aei22-20230930_pre XML 195K 9: EX-101.SCH XBRL Schema -- aei22-20230930 XSD 63K 29: JSON XBRL Instance as JSON Data -- MetaLinks 117± 169K 30: ZIP XBRL Zipped Folder -- 0001023458-23-000007-xbrl Zip 71K
State of i Minnesota | | i 41-1848181 |
(State or other jurisdiction of incorporation
or organization) | | (I.R.S. Employer Identification No.) |
| | |
i 30 East 7th Street, Suite 1300 i St.
Paul, i Minnesota i 55101 | | ( i 651) i 227-7333
|
(Address of principal executive offices) | | (Registrant’s telephone number) |
i Not Applicable |
(Former name, former address and former fiscal year, if changed since last report) |
Title of each class
|
|
Trading Symbol(s)
|
|
Name of each exchange on which registered
|
NONE
|
|
NONE
|
|
NONE
|
| i Limited Partnership Units | |
| (Title of class) | |
☐ Large accelerated filer | ☐ i Accelerated filer |
☒ Non-accelerated filer | i ☒
Smaller reporting company |
i ☐ Emerging growth company | |
Page
|
||||
Part I – Financial Information
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||||
Item 1.
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Financial Statements (unaudited):
|
|||
Balance Sheets as of September 30, 2023 and December 31, 2022
|
3
|
|||
Statements for the Periods ended September 30, 2023 and 2022:
|
||||
Income
|
4
|
|||
Cash Flows
|
5
|
|||
Changes in Partners’ Capital
|
6
|
|||
Condensed Notes to Financial Statements
|
7 – 9
|
|||
Item 2.
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Management's Discussion and Analysis of Financial
|
|||
Condition and Results of Operations
|
9 - 14
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|||
Item 3.
|
Quantitative and Qualitative Disclosures About Market Risk
|
14
|
||
Item 4.
|
Controls and Procedures
|
15
|
||
Part II – Other Information
|
||||
Item 1.
|
Legal Proceedings
|
15
|
||
Item 1A.
|
Risk Factors
|
15
|
||
Item 2.
|
Unregistered Sales of Equity Securities and Use of Proceeds
|
16
|
||
Item 3.
|
Defaults Upon Senior Securities
|
16
|
||
Item 4.
|
Mine Safety Disclosures
|
16
|
||
Item 5.
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Other Information
|
16
|
||
Item 6.
|
Exhibits
|
16
|
||
Signatures
|
17
|
September 30,
|
||||
2022
|
||||
(unaudited)
|
||||
Current Assets:
|
|
|||
Cash
|
$
|
i 268,662 |
$
|
i 256,165 |
Receivables
|
i 0 |
|
i 6,822 |
|
Total Current Assets
|
i 268,662 |
|
i 262,987 |
|
|
|
|
||
Real Estate Investments:
|
|
|
|
|
Land
|
i 1,923,065 |
|
i 1,923,065 |
|
Buildings
|
i 5,382,608 |
|
i 5,382,608 |
|
Acquired Intangible Lease Assets
|
i 1,415,859 |
|
i 1,415,859 |
|
Real Estate Held for Investment, at Cost
|
i 8,721,532 |
|
i 8,721,532 |
|
Accumulated Depreciation and Amortization
|
( i 1,972,788) |
|
( i 1,691,249) |
|
Real Estate Held for Investment, Net
|
i 6,748,744 |
i 7,030,283 |
||
Total Assets
|
$
|
i 7,017,406 |
$
|
i 7,293,270 |
Current Liabilities:
|
|
|
|
|
Payable to AEI Fund Management, Inc.
|
$
|
i 24,003 |
$
|
i 87,973 |
Distributions Payable
|
|
i 103,813 |
|
i 103,813 |
Unearned Rent
|
|
i 36,749 |
|
i 14,743 |
Total Current Liabilities
|
|
i 164,565 |
|
i 206,529 |
|
|
|
|
|
Partners’ Capital (Deficit):
|
|
|
|
|
General Partners
|
|
( i 1,777) |
|
i 5,050 |
Limited Partners – i i 24,000 /
Units authorized; i i i i 11,749.37 / / /
Units issued and outstanding as of 9/30/2023 and 12/31/2022 |
|
i 6,854,618 |
|
i 7,081,691 |
Total Partners' Capital
|
|
i 6,852,841 |
|
i 7,086,741 |
Total Liabilities and Partners' Capital
|
$
|
i 7,017,406 |
$
|
i 7,293,270 |
|
Three Months Ended September 30
|
|
Nine Months Ended September 30
|
|||||
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
|
|
|
Rental Income
|
$
|
i 142,398 |
$
|
i 100,651 |
$
|
i 426,199 |
$
|
i 324,621 |
|
|
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
|
|
Partnership Administration – Affiliates
|
|
i 29,658 |
|
i 26,174 |
|
i 89,664 |
|
i 81,409 |
Partnership Administration and Property
Management – Unrelated Parties
|
|
i 7,965 |
|
i 8,590 |
|
i 29,289 |
|
i 56,161 |
Depreciation and Amortization
|
|
i 75,773 |
|
i 46,246 |
|
i 227,318 |
|
i 155,422 |
Total Expenses
|
|
i 113,396 |
|
i 81,010 |
|
i 346,271 |
|
i 292,992 |
|
|
|
|
|
|
|
|
|
Operating Income
|
|
i 29,002 |
|
i 19,641 |
|
i 79,928 |
|
i 31,629 |
|
|
|
|
|
|
|
|
|
Other Income:
|
|
|
|
|
|
|
|
|
Gain on Sale of Real Estate
|
|
i 0 |
|
i 0 |
|
i 0 |
|
i 524,668 |
Interest Income
|
|
i 1,593 |
|
i 5,446 |
|
i 3,913 |
|
i 6,974 |
Total Other Income
|
|
i 1,593 |
|
i 5,446 |
|
i 3,913 |
|
i 531,642 |
|
|
|
|
|
|
|
|
|
Net Income
|
$
|
i 30,595 |
$
|
i 25,087 |
$
|
i 83,841 |
$
|
i 563,271 |
|
|
|
|
|
|
|
|
|
Net Income Allocated:
|
|
|
|
|
|
|
|
|
General Partners
|
$
|
i 918 |
$
|
i 3,091 |
$
|
i 2,515 |
$
|
i 23,839 |
Limited Partners
|
|
i 29,677 |
|
i 21,996 |
|
i 81,326 |
|
i 539,432 |
Total
|
$
|
i 30,595 |
$
|
i 25,087 |
$
|
i 83,841 |
$
|
i 563,271 |
|
|
|
|
|
|
|
|
|
Net Income per Limited Partnership Unit
|
$
|
i 2.53 |
$
|
i 1.87 |
$
|
i 6.92 |
$
|
i 45.51 |
|
|
|
|
|
|
|
|
|
Weighted Average Units Outstanding –
Basic and Diluted
|
|
i 11,749 |
|
i 11,749 |
|
i 11,749 |
|
i 11,853 |
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30
|
|||
|
2023
|
|
2022
|
|
Cash Flows from Operating Activities:
|
|
|
|
|
Net Income
|
$
|
i 83,841 |
$
|
i 563,271 |
|
|
|
|
|
Adjustments to Reconcile Net Income
To Net Cash Provided by Operating Activities:
|
|
|
|
|
Depreciation and Amortization
|
|
i 281,539 |
|
i 202,122 |
Gain on Sale of Real Estate
|
|
i 0 |
|
( i 524,668) |
(Increase) Decrease in Receivables
|
|
i 6,822 |
|
i 20,191 |
Increase (Decrease) in Payable to
AEI Fund Management, Inc.
|
|
( i 63,970) |
|
i 151,262 |
Increase (Decrease) in Unearned Rent
|
|
i 22,006 |
|
i 14,314 |
Total Adjustments
|
|
i 246,397 |
|
( i 136,779) |
Net Cash Provided By (Used For)
Operating Activities
|
|
i 330,238 |
|
i 426,492 |
|
|
|
|
|
Cash Flows from Investing Activities:
|
|
|
|
|
Investments in Real Estate
|
|
i 0 |
|
( i 3,027,474) |
Proceeds from Sale of Real Estate
|
|
i 0 |
|
i 2,200,747 |
Net Cash Provided By (Used For)
Investing Activities
|
|
i 0 |
|
( i 826,727) |
|
|
|
|
|
Cash Flows from Financing Activities:
|
|
|
|
|
Distributions Paid to Partners
|
|
( i 317,741) |
|
( i 315,151) |
Repurchase of Partnership Units
|
|
i 0 |
|
( i 234,823) |
Net Cash Provided By (Used For)
Financing Activities
|
|
( i 317,741) |
|
( i 549,974) |
|
|
|
|
|
Net Increase (Decrease) in Cash
|
|
i 12,497 |
|
( i 950,209) |
|
|
|
|
|
Cash, beginning of period
|
|
i 256,165 |
|
i 1,291,115 |
|
|
|
|
|
Cash, end of period
|
$
|
i 268,662 |
$
|
i 340,906 |
|
|
|
|
|
General Partners
|
|
Limited Partners
|
|
Total
|
|
Limited Partnership Units Outstanding
|
|
|
|
|
|
|
|
|
|
|
Balance, December 31, 2021
|
$
|
( i 7,021) |
$
|
i 7,147,198 |
$
|
i 7,140,177 |
|
i 12,063.23 |
|
|
|
|
|
|
|
|
|
Distributions Declared
|
|
( i 3,170) |
|
( i 102,498) |
|
( i 105,668) |
|
|
Net Income
|
|
i 13,281 |
|
i 312,177 |
|
i 325,458 |
|
|
|
|
|
|
|
|
|
|
|
Balance, March 31, 2022
|
|
i 3,090 |
|
i 7,356,877 |
|
i 7,359,967 |
|
i 12,063.23 |
|
|
|
|
|
|
|
|
|
Distributions Declared
|
|
( i 3,115) |
|
( i 100,699) |
|
( i 103,814) |
|
|
Repurchase of Partnership Units
|
|
( i 2,348) |
|
( i 232,475) |
|
( i 234,823) |
|
( i 313.86) |
Net Income
|
|
i 7,467 |
|
i 205,259 |
|
i 212,726 |
|
|
|
|
|
|
|
|
|
|
|
Balance, June 30, 2022
|
|
i 5,094 |
|
i 7,228,962 |
|
i 7,234,056 |
|
i 11,749.37 |
|
|
|
|
|
|
|
|
|
Distributions Declared
|
|
( i 3,114) |
|
( i 100,699) |
|
( i 103,813) |
|
|
Net Income
|
|
i 3,091 |
|
i 21,996 |
|
i 25,087 |
|
|
|
|
|
|
|
|
|
|
|
Balance, September 30, 2022
|
$
|
i 5,071 |
$
|
i 7,150,259 |
$
|
i 7,155,330 |
|
i 11,749.37 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, December 31, 2022
|
$
|
i 5,050 |
$
|
i 7,081,691 |
$
|
i 7,086,741 |
|
i 11,749.37 |
|
|
|
|
|
|
|
|
|
Distributions Declared
|
|
( i 3,114) |
|
( i 100,699) |
|
( i 103,813) |
|
|
Net Income
|
|
i 534 |
|
i 17,270 |
|
i 17,804 |
|
|
|
|
|
|
|
|
|
|
|
Balance, March 31, 2023
|
|
i 2,470 |
|
i 6,998,262 |
|
i 7,000,732 |
|
i 11,749.37 |
|
|
|
|
|
|
|
|
|
Distributions Declared
|
|
( i 3,114) |
|
( i 107,001) |
|
( i 110,115) |
|
|
Net Income
|
|
i 1,063 |
|
i 34,379 |
|
i 35,442 |
|
|
|
|
|
|
|
|
|
|
|
Balance, June 30, 2023
|
|
i 419 |
|
i 6,925,640 |
|
i 6,926,059 |
|
i 11,749.37 |
|
|
|
|
|
|
|
|
|
Distributions Declared
|
|
( i 3,114) |
|
( i 100,699) |
|
( i 103,813) |
|
|
Net Income
|
|
i 918 |
|
i 29,677 |
|
i 30,595 |
|
|
|
|
|
|
|
|
|
|
|
Balance, September 30, 2023
|
$
|
( i 1,777) |
$
|
i 6,854,618 |
$
|
i 6,852,841 |
|
i 11,749.37 |
Dated: November 10, 2023
|
AEI Income & Growth Fund XXII
|
|
Limited Partnership
|
||
By:
|
AEI Fund Management XXI, Inc.
|
|
Its:
|
Managing General Partner
|
|
By:
|
/s/ Marni J Nygard | |
Marni J. Nygard
|
||
President
|
||
(Principal Executive Officer)
|
||
By:
|
/s/ Keith E Petersen | |
Keith E. Petersen
|
||
Chief Financial Officer
|
||
(Principal Accounting Officer)
|
This ‘10-Q’ Filing | Date | Other Filings | ||
---|---|---|---|---|
12/31/23 | ||||
Filed on: | 11/13/23 | |||
11/10/23 | ||||
10/31/23 | ||||
For Period end: | 9/30/23 | |||
6/30/23 | 10-Q, 10-Q/A | |||
3/31/23 | 10-K, 10-Q | |||
1/1/23 | ||||
12/31/22 | 10-K | |||
9/30/22 | 10-Q | |||
6/30/22 | 10-Q, 8-K | |||
4/1/22 | ||||
3/31/22 | 10-K, 10-Q | |||
3/29/22 | 8-K | |||
12/31/21 | 10-K | |||
List all Filings |