Aei Income & Growth Fund XXII LTD Partnership (XAEIU) 10-Q 13 Nov 23 2023 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Oct. 31, 2023
Document Information Line Items
Entity Registrant Name	AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		11,749.37
Amendment Flag	false
Entity Central Index Key	0001023458
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Entity File Number	000-24003
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-1848181
Entity Address, Address Line One	30 East 7th Street, Suite 1300
Entity Address, City or Town	St. Paul
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55101
City Area Code	651
Local Phone Number	227-7333
Entity Information, Former Legal or Registered Name	Not Applicable
Title of 12(g) Security	Limited Partnership Units
Entity Interactive Data Current	Yes
Document Transition Report	false

Balance Sheet

Balance Sheet - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current Assets:
Cash	$ 268,662	$ 256,165
Receivables	0	6,822
Total Current Assets	268,662	262,987
Land	1,923,065	1,923,065
Buildings	5,382,608	5,382,608
Acquired Intangible Lease Assets	1,415,859	1,415,859
Real Estate Held for Investment, at Cost	8,721,532	8,721,532
Accumulated Depreciation and Amortization	(1,972,788)	(1,691,249)
Real Estate Held for Investment, Net	6,748,744	7,030,283
Total Assets	7,017,406	7,293,270
Payable to AEI Fund Management, Inc.	24,003	87,973
Distributions Payable	103,813	103,813
Unearned Rent	36,749	14,743
Total Current Liabilities	164,565	206,529
Partners’ Capital (Deficit):
General Partners	(1,777)	5,050
Limited Partners – 24,000 Units authorized; 11,749.37 Units issued and outstanding as of 9/30/2023 and 12/31/2022	6,854,618	7,081,691
Total Partners' Capital	6,852,841	7,086,741
Total Liabilities and Partners' Capital	$ 7,017,406	$ 7,293,270

Balance Sheet (Parentheticals)

Balance Sheet (Parentheticals) - Limited Partner [Member] - shares	Sep. 30, 2023	Dec. 31, 2022
Limited Partners, units authorized	24,000	24,000
Limited Partners, units issued	11,749.37	11,749.37
Limited Partners, units outstanding	11,749.37	11,749.37

Statement of Income

Statement of Income - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Rental Income	$ 142,398	$ 100,651	$ 426,199	$ 324,621
Expenses:
Partnership Administration – Affiliates	29,658	26,174	89,664	81,409
Partnership Administration and Property Management – Unrelated Parties	7,965	8,590	29,289	56,161
Depreciation and Amortization	75,773	46,246	227,318	155,422
Total Expenses	113,396	81,010	346,271	292,992
Operating Income	29,002	19,641	79,928	31,629
Other Income:
Gain on Sale of Real Estate	0	0	0	524,668
Interest Income	1,593	5,446	3,913	6,974
Total Other Income	1,593	5,446	3,913	531,642
Net Income	30,595	25,087	83,841	563,271
Net Income Allocated:
General Partners	918	3,091	2,515	23,839
Limited Partners	29,677	21,996	81,326	539,432
Net Income	$ 30,595	$ 25,087	$ 83,841	$ 563,271
Net Income per Limited Partnership Unit (in Dollars per share)	$ 2.53	$ 1.87	$ 6.92	$ 45.51
Weighted Average Units Outstanding – Basic and Diluted (in Shares)	11,749	11,749	11,749	11,853

Statement of Cash Flows

Statement of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash Flows from Operating Activities:
Net Income	$ 83,841	$ 563,271
Adjustments to Reconcile Net Income To Net Cash Provided by Operating Activities:
Depreciation and Amortization	281,539	202,122
Gain on Sale of Real Estate	0	(524,668)
(Increase) Decrease in Receivables	6,822	20,191
Increase (Decrease) in Payable to AEI Fund Management, Inc.	(63,970)	151,262
Increase (Decrease) in Unearned Rent	22,006	14,314
Total Adjustments	246,397	(136,779)
Net Cash Provided By (Used For) Operating Activities	330,238	426,492
Cash Flows from Investing Activities:
Investments in Real Estate	0	(3,027,474)
Proceeds from Sale of Real Estate	0	2,200,747
Net Cash Provided By (Used For) Investing Activities	0	(826,727)
Cash Flows from Financing Activities:
Distributions Paid to Partners	(317,741)	(315,151)
Repurchase of Partnership Units	0	(234,823)
Net Cash Provided By (Used For) Financing Activities	(317,741)	(549,974)
Net Increase (Decrease) in Cash	12,497	(950,209)
Cash, beginning of period	256,165	1,291,115
Cash, end of period	$ 268,662	$ 340,906

Statement of Changes in Partner

Statement of Changes in Partners' Capital - USD ($)	General Partner [Member]	Limited Partner [Member]	Total
Balance at Dec. 31, 2021	$ (7,021)	$ 7,147,198	$ 7,140,177
Balance (in Shares) at Dec. 31, 2021		12,063.23
Distributions Declared	(9,399)	$ (303,896)	(313,295)
Repurchase of Partnership Units	(2,348)
Net Income			563,271
Balance at Sep. 30, 2022	5,071	$ 7,150,259	7,155,330
Balance (in Shares) at Sep. 30, 2022		11,749.37
Balance at Mar. 31, 2022	3,090	$ 7,356,877	7,359,967
Balance (in Shares) at Mar. 31, 2022		12,063.23
Distributions Declared	(3,115)	$ (100,699)	(103,814)
Repurchase of Partnership Units	(2,348)	$ (232,475)	(234,823)
Units Repurchased (in Shares)		(313.86)
Net Income	7,467	$ 205,259	212,726
Balance at Jun. 30, 2022	5,094	$ 7,228,962	7,234,056
Balance (in Shares) at Jun. 30, 2022		11,749.37
Distributions Declared	(3,114)	$ (100,699)	(103,813)
Net Income	3,091	21,996	25,087
Balance at Sep. 30, 2022	5,071	$ 7,150,259	7,155,330
Balance (in Shares) at Sep. 30, 2022		11,749.37
Balance at Dec. 31, 2022	5,050	$ 7,081,691	7,086,741
Balance (in Shares) at Dec. 31, 2022		11,749.37
Distributions Declared	(9,342)	$ (308,399)	$ (317,741)
Repurchase of Partnership Units		(232,475)
Units Repurchased (in Shares)			(313.86)
Net Income			$ 83,841
Balance at Sep. 30, 2023	$ (1,777)	$ 6,854,618	$ 6,852,841
Balance (in Shares) at Sep. 30, 2023		11,749.37

Basis of Accounting

Basis of Accounting	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Accounting [Text Block]	(1) The condensed statements included herein have been prepared by the registrant, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission, and reflect all adjustments which are, in the opinion of management, necessary to a fair statement of the results of operations for the interim period, on a basis consistent with the annual audited statements. The adjustments made to these condensed statements consist only of normal recurring adjustments. Certain information, accounting policies, and footnote disclosures normally included in financial statements prepared in accordance with United States Generally Accepted Accounting Principles (US GAAP) have been condensed or omitted pursuant to such rules and regulations, although the registrant believes that the disclosures are adequate to make the information presented not misleading. It is suggested that these condensed financial statements be read in conjunction with the financial statements and the summary of significant accounting policies and notes thereto included in the registrant’s latest annual report on Form 10‑K.

Organization

Organization	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	(2) Organization – AEI Income & Growth Fund XXII Limited Partnership (“Partnership”) was formed to acquire and lease commercial properties to operating tenants. The Partnership's operations are managed by AEI Fund Management XXI, Inc. (“AFM”), the Managing General Partner. The Estate of Robert P. Johnson serves as the Individual General Partner. AFM is a wholly owned subsidiary of AEI Capital Corporation of which the Robert P. Johnson Trust and Patricia Johnson own a majority interest. AEI Fund Management, Inc. (“AEI”), an affiliate of AFM, performs the administrative and operating functions for the Partnership.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	(3) Recently Adopted Accounting Pronouncements – Effective January 1, 2023, the Partnership adopted the Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses (Topic 326). This guidance changes the methodology to be used to measure credit losses for certain financial instruments and financial assets, including receivables. The new methodology requires the recognition of an allowance that reflects the current estimate of credit losses expected to be incurred over the life of the financial assets. The adoption of the guidance did not have a material impact on the Partnership’s financial statements. Other accounting standards that have been issued or proposed by the FASB are currently not applicable to the Partnership or are not expected to have a significant impact on the Partnership’s financial position, results of operations and cash flows.

Real Estate Investments

Real Estate Investments	9 Months Ended
	Sep. 30, 2023
Real Estate [Abstract]
Real Estate Disclosure [Text Block]	(4) Real Estate Investments – In February 2022, the Partnership entered into an agreement to sell its 33% interest in the Best Buy store in Lake Geneva, Wisconsin to an unrelated third party. On March 29, 2022, the sale closed with the Partnership receiving net proceeds of $1,438,654, which resulted in a net gain of $319,006. At the time of sale, the cost and related accumulated depreciation was $2,022,246 and $902,598, respectively. In June 2022, the Partnership entered into an agreement to sell its 28% interest in the Staples store in Clermont, Florida to an unrelated third party. On June 30, 2022, the sale closed with the Partnership receiving net proceeds of $762,093, which resulted in a net gain of $205,662. At the time of sale, the cost and related accumulated depreciation was $900,295 and $343,864, respectively. In September 2022, the Partnership purchased a 100% interest in the DaVita property in Hempstead, Texas for $3,027,474. The Partnership allocated $351,453 of the purchase price to Acquired Intangible Lease Assets, representing in-place lease intangibles of $273,715 and above-market lease intangibles of $77,738. The property is leased to Bollinger Dialysis, LLC under a lease agreement with a remaining primary term of approximately 7.75 years (as of date of purchase) and annual rent of $182,209.

Payable to AEI Fund Management,

Payable to AEI Fund Management, Inc.	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	(5) Payable to AEI Fund Management, Inc. – AEI Fund Management, Inc. performs the administrative and operating functions for the Partnership. The payable to AEI Fund Management represents the balance due for those services. This balance is non-interest bearing and unsecured and is to be paid in the normal course of business.

Partners' Capital

Partners' Capital	9 Months Ended
	Sep. 30, 2023
Partners' Capital Notes [Abstract]
Partners' Capital Notes Disclosure [Text Block]	(6) Partners’ Capital – For the nine months ended September 30, 2023 and 2022, the Partnership declared distributions of $317,741 and $313,295, respectively. The Limited Partners were allocated distributions of $308,399 and $303,896 and the General Partners were allocated distributions of $9,342 and $9,399 for the periods ended September 30, 2023 and 2022, respectively. The Limited Partners' distributions represented $26.25 and $25.64 per Limited Partnership Unit outstanding using 11,749 and 11,853 weighted average Units in 2023 and 2022, respectively. The distributions represented $26.25 and $25.64 per Unit of Net Income and $0 Unit of return of capital in 2023 and 2022, respectively. On April 1, 2022, the Partnership repurchased a total of 313.86 Units for $232,475 from 21 Limited Partners in accordance with the Partnership Agreement. The Partnership acquired these Units using net sales proceeds. The repurchases increase the remaining Limited Partners' ownership interest in the Partnership. As a result of these repurchases and pursuant to the Partnership Agreement, the General Partners received distributions of $2,348 in 2022. During the nine months ended September 30, 2023, the Partnership did not repurchase any Units from the Limited Partners.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	(7) Fair Value Measurements – As of September 30, 2023 and December 31, 2022, the Partnership had no assets or liabilities measured at fair value on a recurring basis or nonrecurring basis.

Real Estate Investments (Detail

Real Estate Investments (Details) - USD ($)				3 Months Ended		9 Months Ended
	Sep. 22, 2022	Jun. 30, 2022	Mar. 29, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Real Estate Investments (Details) [Line Items]
Proceeds from Sale of Real Estate			$ 1,438,654
Gain (Loss) on Disposition of Assets			319,006	$ 0	$ 0	$ 0	$ 524,668
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Cost of Investment in Real Estate Sold			2,022,246
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation			$ 902,598
Payments to Acquire Real Estate						$ 0	$ 3,027,474
Davita Hempstead TX " Member"
Real Estate Investments (Details) [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 182,209
Best Buy Lake Geneva WI 'Member'
Real Estate Investments (Details) [Line Items]
Disposal Date			Mar. 29, 2022
Staples Clermont FL 'Member'
Real Estate Investments (Details) [Line Items]
Disposal Date		Jun. 30, 2022
PetSmart Galveston TX
Real Estate Investments (Details) [Line Items]
Proceeds from Sale of Real Estate		$ 762,093
Gain (Loss) on Disposition of Assets		205,662
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Cost of Investment in Real Estate Sold		900,295
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation		$ 343,864
Davita Hempstead TX " Member"
Real Estate Investments (Details) [Line Items]
Payments to Acquire Real Estate	$ 3,027,474
AverageLeaseTerm	The property is leased to Bollinger Dialysis, LLC under a lease agreement with a remaining primary term of approximately 7.75 years
Davita Hempstead TX " Member" | Leases, Acquired-in-Place [Member]
Real Estate Investments (Details) [Line Items]
Finite-Lived Intangible Asset, Acquired-in-Place Leases	$ 273,715
Davita Hempstead TX " Member" | Above Market Leases [Member]
Real Estate Investments (Details) [Line Items]
Finite-Lived Intangible Asset, off-Market Lease, Favorable, Gross	$ 77,738

Partners' Capital (Details)

Partners' Capital (Details) - USD ($)	3 Months Ended						6 Months Ended	9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2021	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Partners' Capital (Details) [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	$ 103,813	$ 110,115	$ 103,813	$ 103,813	$ 103,814	$ 105,668		$ 317,741	$ 313,295
Partners' Capital Account, Units, Redeemed (in Shares)								313.86
Partners' Capital Account, Redemptions					234,823
Limited Partner [Member]
Partners' Capital (Details) [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	100,699	107,001	100,699	100,699	$ 100,699	102,498		$ 308,399	$ 303,896
Distribution Made to Limited Partner, Distributions Declared, Per Unit (in Dollars per share)							$ 25.64	$ 26.25
Weighted Average Limited Partnership Units Outstanding, Basic (in Shares)								11,749	11,853
DistributionsPerUnitOfNetIncome (in Dollars per share)								$ 26.25	$ 25.64
DistributionsPerUnitOfReturnOfCapital (in Dollars per share)								$ 0
Partners' Capital Account, Units, Redeemed (in Shares)					313.86
Partners' Capital Account, Redemptions					$ 232,475			$ 232,475
General Partner [Member]
Partners' Capital (Details) [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	$ 3,114	$ 3,114	$ 3,114	$ 3,114	3,115	$ 3,170		$ 9,342	$ 9,399
Partners' Capital Account, Redemptions					$ 2,348				$ 2,348

Uncategorized Items - aei22-202

Label	Element	Value
General Partner [Member]
Net Income	us-gaap_ProfitLoss	$ 13,281
Net Income	us-gaap_ProfitLoss	534
Net Income	us-gaap_ProfitLoss	1,063
Net Income	us-gaap_ProfitLoss	918
Partners' Capital	us-gaap_PartnersCapital	2,470
Partners' Capital	us-gaap_PartnersCapital	419
Limited Partner [Member]
Net Income	us-gaap_ProfitLoss	312,177
Net Income	us-gaap_ProfitLoss	17,270
Net Income	us-gaap_ProfitLoss	34,379
Net Income	us-gaap_ProfitLoss	29,677
Partners' Capital	us-gaap_PartnersCapital	6,998,262
Partners' Capital	us-gaap_PartnersCapital	$ 6,925,640