Commonwealth Income & Growth Fund VI (CIGF6) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2016shares
Document and Entity Information:
Entity Registrant Name	Commonwealth Income & Growth Fund VI
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Trading Symbol	cigf6
Amendment Flag	false
Entity Central Index Key	1,351,901
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	1,785,243
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Incorporation, State Country Name	Commonwealth of Pennsylvania

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 284,075	$ 20,855
Lease income receivable, net of reserve of approximately $33,000 at September 30, 2016 and December 31, 2015	226,578	208,761
Accounts receivable, Commonwealth Capital Corp, net	110,446	829,224
Other receivables, net of reserve of approximately $5,000 at September 30, 2016 and December 31, 2015, respectively	65,967	22,775
Prepaid expenses	4,154	1,967
Current Assets	691,220	1,083,582
Net investment in finance leases	72,092	102,615
Equipment, at cost	9,227,541	9,308,099
Accumulated depreciation	(8,015,404)	(8,204,315)
Technology equipment, net	1,212,137	1,103,784
Equipment acquisition costs and deferred expenses, net of accumulated amortization of approximately $56,000 and $60,000 at September 30, 2016 and December 31, 2015, respectively	41,009	27,608
Total Assets	2,016,458	2,317,589
LIABILITIES
Accounts payable	160,818	167,801
Accounts payable, CIGF, Inc., net	86,448	119,638
Other accrued expenses	67,608	18,365
Unearned lease income	45,815	62,650
Notes payable	689,345	367,801
Total Liabilities	1,050,034	736,255
PARTNERS' CAPITAL
General Partner	1,000	1,000
Limited Partners	965,424	1,580,334
Total Partners' Capital	966,424	1,581,334
Total Liabilities and Partners' Capital	$ 2,016,458	$ 2,317,589

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Reserve for doubtful lease income receivable	$ 33,000	$ 33,000
Other receivables reserve, net	7,000	5,000
Land, Buildings, Equipment and Leasehold Improvements, accumulated depreciation and amortization	$ 56,000	$ 60,000

Condensed Statements of Operati

Condensed Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenue
Lease	$ 239,243	$ 430,842	$ 686,973	$ 1,541,650
Interest and other	1,623	3,463	4,540	10,464
Gain on sale of equipment	11,086	140,591	31,244	161,059
Total revenue	251,952	574,896	722,757	1,713,173
Expenses
Operating, excluding depreciation	108,637	102,691	403,168	419,664
Equipment management fee, General Partner	12,190	21,769	35,030	77,764
Interest	1,836	4,885	7,828	16,132
Depreciation	191,914	335,760	593,599	1,103,603
Amortization of equipment acquisition costs and deferred expenses	8,213	11,001	21,114	39,129
Bad debt expense	0	0	1,649	5,000
Total expenses	322,790	476,106	1,062,388	1,661,292
Net (loss) income	(70,838)	98,790	(339,631)	51,881
Net (loss) income allocated to Limited Partners	$ (71,722)	$ 98,191	$ (341,408)	$ 44,103
Net (loss) income per equivalent Limited Partnership unit	$ (0.04)	$ 0.05	$ (0.19)	$ 0.02
Weighted average number of equivalent Limited Partnership units outstanding during the period	1,775,409	1,792,624	1,785,243	1,794,113

Condensed Statement of Partners

Condensed Statement of Partners' Capital - 9 months ended Sep. 30, 2016 - USD ($)	General Partners	Limited Partners {1}	Total
Partners' Capital at Dec. 31, 2015	$ 1,000	$ 1,580,334	$ 1,581,334
Partners' Capital Account, Units at Dec. 31, 2015	50	1,792,074
Net income (loss)	$ 1,777	$ (341,408)	(339,631)
Partners' Capital Account, Redemptions		$ (97,574)	(97,574)
Partners' Capital Account, Units, Redeemed		(24,748)
Distributions	(177)	$ (175,928)	(177,705)
Partners' Capital at Sep. 30, 2016	$ 1,000	$ 965,424	$ 966,424
Partners' Capital Account, Units at Sep. 30, 2016	50	1,767,326

Condensed Statements of Cash Fl

Condensed Statements of Cash Flow - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities
Net cash provided by operating activities	$ 584,730	$ 425,193
Cash flows from investing activities
Capital expenditures	(95,194)	(8,639)
Payments received from finance leases	34,051	34,051
Equipment acquisition fees paid to General Partner	(28,805)	(1,844)
Net proceeds from the sale of equipment	49,427	258,775
Net cash (used in) provided by investing activities	(40,521)	282,343
Cash flows from financing activities
Redemptions	(97,574)	(12,943)
Debt placement fee	(5,710)	(375)
Distributions to partners	(177,705)	(777,868)
Net cash used in financing activities	(280,989)	(791,186)
Net increase (decrease) in cash and cash equivalents	263,220	(83,650)
Cash and cash equivalents beginning of period	20,855	148,748
Cash and cash equivalents end of period	$ 284,075	$ 65,098

Business

Business	9 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Business	Commonwealth Income & Growth Fund VI (“CIGF7” or the “Partnership” or the “Fund”) is a limited partnership organized in the Commonwealth of Pennsylvania on January 6, 2006. The Partnership offered for sale up to 2,500,000 units of the limited partnership at the purchase price of $20 per unit (the “offering”). The Partnership reached the minimum amount in escrow and commenced operations on May 10, 2007. The offering terminated on March 6, 2009 with 1,810,311 units sold for a total of approximately $36,000,000 in limited partner contributions. The Partnership uses the proceeds of the offering to acquire, own and lease various types of information technology equipment and other similar capital equipment, which will be leased primarily to U.S. corporations and institutions. Commonwealth Capital Corp. (“CCC”), on behalf of the Partnership and other affiliated partnerships, acquires equipment subject to associated debt obligations and lease agreements and allocates a participation in the cost, debt and lease revenue to the various partnerships that it manages based on certain risk factors. The Partnership’s General Partner is Commonwealth Income & Growth Fund, Inc. (the “General Partner”), a Pennsylvania corporation which is an indirect wholly owned subsidiary of CCC. CCC is a member of the Investment Program Association (IPA), REISA, Financial Planning Association (FPA), and the Equipment Leasing and Finance Association (ELFA). Approximately ten years after the commencement of operations, the Partnership intends to sell or otherwise dispose of all of its equipment, make final distributions to partners, and to dissolve. Unless sooner terminated or extended pursuant to the terms of its Limited Partnership Agreement, the Partnership will continue until December 31, 2018.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Summary of Significant Accounting Policies	Basis of Presentation The financial information presented as of any date other than December 31, 2015 has been prepared from the books and records without audit. The following unaudited condensed financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Financial information as of December 31, 2015 has been derived from the audited financial statements of the Partnership, but does not include all disclosures required by generally accepted accounting principles to be included in audited financial statements. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the financial information for the periods indicated, have been included. Operating results for the nine months ended September 30, 2016 are not necessarily indicative of financial results that may be expected for the full year ended December 31, 2016. Recently Adopted Accounting Pronouncements In June 2015, the FASB issued Accounting Standards Update No. 2015-10, Technical Corrections and Improvements- In January 2015, the FASB issued Accounting Standards Update No. 2015-01, Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. Disclosure of Fair Value of Financial Instruments Estimated fair value was determined by management using available market information and appropriate valuation methodologies. However, judgment was necessary to interpret market data and develop estimated fair value. Cash and cash equivalents, receivables, accounts payable and accrued expenses and other liabilities are carried at amounts which reasonably approximate their fair values as of September 30, 2016 and December 31, 2015 due to the short term nature of these financial instruments. The Partnership’s long-term debt consists of notes payable, which are secured by specific equipment and are nonrecourse liabilities of the Partnership. The estimated fair value of this debt at September 30, 2016 and December 31, 2015 approximates the carrying value of these instruments, due to the interest rates on the debt approximating current market interest rates. The Partnership classifies the fair value of its notes payable within Level 2 of the valuation hierarchy based on the observable inputs used to estimate fair value. Cash and cash equivalents We consider cash equivalents to be highly liquid investments with an original maturity of 90 days or less. At September 30, 2016, cash and cash equivalents was held in two accounts maintained at one financial institution with an aggregate balance of approximately $286,000. Bank accounts are federally insured up to $250,000 by the FDIC. At September 30, 2016, the total cash balance was as follows: At September 30, 2016 Balance Total bank balance $ 286,000 FDIC insured (250,000 ) Uninsured amount $ 36,000 The Partnership believes it mitigates the risk of holding uninsured deposits by only depositing funds with major financial institutions. The Partnership has not experienced any losses in our accounts, and believes it is not exposed to any significant credit risk. The amounts in such accounts will fluctuate throughout 2016 due to many factors, including cash receipts, equipment acquisitions, interest rates and distributions to limited partners. Recent Accounting Pronouncements In August 2016, the FASB issued Accounting Standards Update 2016-15— Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In March, April and May 2016, the FASB issued Accounting Standards Update- Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients, Identifying Performance Obligations and Licensing Principal versus Agent Considerations (Reporting Revenue Gross versus Net, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) Section A—Leases: Amendments to the FASB Accounting Standards Codification® Section B—Conforming Amendments Related to Leases: Amendments to the FASB Accounting Standards Codification® Section C—Background Information and Basis for Conclusions In January 2016, the FASB issued Accounting Standards Update No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In August 2015, the FASB issued Accounting Standards Update No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date In August 2014, the FASB issued Accounting Standards Update No. 2014 -15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers

Information Technology, Medical

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (''Equipment'')	9 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Information and other Technology, Inventory Management Equipment and other Capital Equipment	The Partnership is the lessor of equipment under leases with periods that generally will range from 12 to 48 months. In general, associated costs such as repairs and maintenance, insurance and property taxes are paid by the lessee. Remarketing fees will be paid to the leasing companies from which the Partnership purchases leases. These are fees that are earned by the leasing companies when the initial terms of the lease have been met. The General Partner believes that this strategy adds value since it entices the leasing company to remain actively involved with lessee and encourages potential extensions, remarketing or sale of equipment. This strategy is designed to minimize any conflicts the leasing company may have with a new lessee and may assist in maximizing overall portfolio performance. The remarketing fee is tied into lease performance thresholds and is a factor in the negotiation of the fee. Remarketing fees of approximately $4,000 were incurred for each of the nine month periods ended September 30, 2016 and 2015. For the nine months ended September 30, 2016 and 2015, there were no remarketing fees paid with cash or netted against receivables due from such parties. In December 2014, a significant lessee, ALSC, breached its Master Lease Agreement (“MLA”) scheduled to terminate in December 2015 and defaulted on its lease payments for equipment shared by the Partnership and other affiliated Funds. On December 4, 2014, ALSC filed a voluntary petition for relief under Chapter 7 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. On April 2, 2015, CCC, on behalf of the Funds, entered into a settlement agreement with the parent company of ALSC for $3,500,000. The Partnership’s share of this settlement was approximately $84,000 of which $68,000 was recorded as a gain on termination of leases included in lease revenue in the second quarter of 2015. In addition, the Bankruptcy Court ordered the release of all equipment leased to ALSC under the MLA to the Partnerships. In January 2015, CCC, on behalf of the Funds, entered into a Purchase Agreement for the sale of the equipment to Medshare Technologies (see note 7 - Medshare). Gains from the termination of leases are recognized when the lease is modified and terminated concurrently. Gains from lease termination included in lease revenue for the nine months ended September 30, 2016 and 2015, was approximately $4,000 and $79,000, respectively. CCC, on behalf of the Partnership and on behalf of other affiliated companies and partnerships (“partnerships”), acquires equipment subject to associated debt obligations and lease agreements and allocates a participation in the cost, debt and lease revenue to the various companies based on certain risk factors. The Partnership’s share of the cost of the equipment in which it participates with other partnerships at September 30, 2016 was approximately $4,776,000 and is included in the Partnership’s equipment on its balance sheet. The total cost of the equipment shared by the Partnership with other partnerships at September 30, 2016 was approximately $10,578,000. The Partnership’s share of the outstanding debt associated with this equipment at September 30, 2016 was approximately $49,000 and is included in the Partnership’s notes payable on its balance sheet. The total outstanding debt related to the equipment shared by the Partnership at September 30, 2016 was approximately $139,000. The Partnership’s share of the cost of the equipment in which it participates with other partnerships at December 31, 2015 was approximately $5,111,000 and is included in the Partnership’s equipment on its balance sheet. The total cost of the equipment shared by the Partnership with other partnerships at December 31, 2015 was approximately $11,246,000. The Partnership’s share of the outstanding debt associated with this equipment at December 31, 2015 was approximately $214,000 and is included in the Partnership’s notes payable on its balance sheet. The total outstanding debt related to the equipment shared by the Partnership at December 31, 2015 was approximately $660,000. As the Partnership and the other programs managed by the General Partner increase their overall portfolio size, opportunities for shared participation are expected to continue. Sharing in the acquisition of a lease portfolio gives the fund an opportunity to acquire additional assets and revenue streams, while allowing the fund to remain diversified and reducing its overall risk with respect to one portfolio. As additional investment opportunities arise during the remainder of 2016, the Partnership expects total shared equipment and related debt to trend higher as the Partnership builds its portfolio. The following is a schedule of future minimum rentals on non-cancellable operating leases at September 30, 2016: Amount Three months ended December 31, 2016 $ 183,000 Year Ended December 31, 2017 296,000 Year Ended December 31, 2018 198,000 Year Ended December 31, 2019 180,000 $ 857,000 Finance Leases: The following lists the components of the net investment in direct finance leases: September 30, 2016 December31, 2015 Total minimum lease payments to be received $ 55,000 $ 89,000 Estimated residual value of leased equipment (unguaranteed) 20,000 20,000 Less: unearned income (4,000 ) (8,000 ) Initial direct costs finance leases 1,000 2,000 Net investment in finance leases $ 72,000 $ 103,000 This credit risk is assessed using an internally developed model which incorporates credits scores from third party providers and our own customer risk ratings and is periodically reviewed. Our internal ratings are weighted based on the industry that the customer operates in. Factors taken into consideration when assessing risk include both general and industry specific qualitative and quantitative metrics. We separately take in to consideration payment history, open lawsuits, liens and judgments. Typically, we will not extend credit to a company that has been in business for less than 5 years or that has filed for bankruptcy within the same period. Our internally based model may classify a company as high risk based on our analysis of their audited financial statements and their payment history. Additional considerations of high risk may include history of late payments, open lawsuits and liens or judgments. In an effort to mitigate risk, we typically require deposits from those in this category. The following table presents the credit risk profile, by creditworthiness category, of our direct finance lease receivables at September 30, 2016: Risk Level Percent of Total Low -% Moderate-Low -% Moderate -% Moderate-High 100% High -% Net finance lease receivable 100% As of September 30, 2016, we determined that we did not have a need for an allowance for uncollectible accounts associated with any of our finance leases, as the customer payment histories with us, associated with these leases. The following is a schedule of future minimum rentals on non-cancelable direct financing leases at September 30, 2016: Amount Three months ended December 31, 2016 $ 11,000 Year ended December 31, 2017 39,000 Year ended December 31, 2018 5,000 $ 55,000

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Related Party Transactions	Receivables/Payables As of September 30, 2016 and December 31, 2015, the Company’s related party receivables and payables are short term, unsecured and non-interest bearing. Nine months ended September 30, 2016 2015 Reimbursable Expenses The General Partner and its affiliates are entitled to reimbursement by the Partnership for the cost of goods, supplies or services obtained and used by the General Partner in connection with the administration and operation of the Partnership from third parties unaffiliated with the General Partner. In addition, the General Partner and its affiliates are entitled to reimbursement of certain expenses incurred by the General Partner and its affiliates in connection with the administration and operation of the Partnership. For the nine months ended September 30, 2016 and 2015, the Partnership was charged approximately $158,000 and $196,000 in Other LP expense, respectively. $ 384,000 $ 414,000 Equipment Acquisition Fee The General Partner earned an equipment acquisition fee of 4% of the purchase price of each item of equipment purchased as compensation for the negotiation of the acquisition of the equipment and lease thereof or sale under a conditional sales contract. For the nine months ended September 30, 2016, the General Partner earned acquisition fees from operating and finance leases of approximately $29,000 and $0, respectively. $ 29,000 $ 2,000 Equipment Management Fee The General Partner is entitled to be paid a monthly fee equal to the lesser of (a) the fees which would be charged by an independent third party in the same geographic market for similar services and equipment or (b) the sum of (i) two percent of gross lease revenues attributable to equipment subject to full payout net leases which contain net lease provisions and (ii) five percent of the gross lease revenues attributable to equipment subject to operating leases. Our general partner, based on its experience in the equipment leasing industry and current dealings with others in the industry, will use its business judgment to determine if a given fee is competitive, reasonable and customary. The amount of the fee will depend upon the amount of equipment we manage, which in turn will depend upon the amount we raise in this offering. Reductions in market rates for similar services would also reduce the amount of this fee we will receive. $ 35,000 $ 78,000 Debt Placement Fee As compensation for arranging term debt to finance our acquisition of equipment, we will pay the general partner a fee equal to one percent of such indebtedness; provided, however, that such fee shall be reduced to the extent we incur such fees to third parties unaffiliated with the general partner or the lender with respect to such indebtedness. No such fee will be paid with respect to borrowings from the general partner or its affiliates. We intend to initially acquire leases on an all cash basis with the proceeds of this offering, but may borrow funds after the offering proceeds have been invested. The amount we borrow, and therefore the amount of the fee, will depend upon interest rates at the time of a loan, and the amount of leverage we determine is appropriate at the time. We do not intend to use more than 30% leverage overall in our portfolio. Fees will increase as the amount of leverage we use increases, and as turnover in the portfolio increases and additional equipment is purchased using leverage. $ 6,000 $ 400 Equipment liquidation fee Also referred to as a "resale fee." With respect to each item of equipment sold by the general partner, we will pay a fee equal to the lesser of (i) 50% of the competitive equipment sale commission or (ii) three percent of the sales price of the equipment. The payment of this fee is subordinated to the receipt by the limited partners of (i) a return of their capital contributions and a 10% per annum cumulative return, compounded daily, on adjusted capital contributions and (ii) the net disposition proceeds from such sale in accordance with the partnership agreement. Our general partner, based on its experience in the equipment leasing industry and current dealings with others in the industry, uses its business judgment to determine if a given sales commission is competitive, reasonable and customary. Such fee will be reduced to the extent any liquidation or resale fees are paid to unaffiliated parties. The amount of such fees will depend upon the sale price of equipment sold. Sale prices will vary depending upon the type, age and condition of equipment sold. The shorter the terms of our leases, the more often we may sell equipment, which will increase liquidation fees we receive. For the nine months ended September 30, 2016, the General Partner earned but waived approximately $1,000 in equipment liquidation fees. $ - $ 4,000

Notes Payable

Notes Payable	9 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Notes Payable	Notes payable consisted of the following approximate amounts: September 30, 2016 December 31, 2015 Installment note payable to bank; interest rate of 4.23%, due in quarterly installments of $5,665, including interest, with final payment in June 2016 $ - $ 11,000 Installment note payable to bank; interest rate of 4.85%, due in quarterly installments of $35,894, including interest, with final payment in August 2016 - 105,000 Installment note payable to bank; interest rate of 4.23%, due in quarterly installments of $6,288, including interest, with final payment in December 2016 6,000 25,000 Installment note payable to bank; interest rate of 1.60%, due in monthly installments of $2,775, including interest, with final payment in March 2017 17,000 41,000 Installment note payable to bank; interest rate of 1.60%, due in monthly installments of $5,138, including interest, with final payment in April 2017 35,000 81,000 Installment note payable to bank; interest rate of 4.85%, due in quarterly installments of $7,699, including interest, with final payment in July 2017 30,000 52,000 Installment note payable to bank; interest rate of 4.23%, due in quarterly installments of $420, including interest, with final payment in August 2017 2,000 3,000 Installment note payable to bank; interest rate of 4.88%, due in monthly installments of $1,058, including interest, with final payment in October 2017 13,000 22,000 Installment note payable to bank; interest rate of 4.23%, due in quarterly installments ranging from $1,370, to $1,927, including interest, with final payment in February 2018 19,000 28,000 Installment note payable to bank; interest rate of 4.23%, due in quarterly installments of $141 including interest, with final payment in October 2018 4,000 - Installment note payable to bank; interest rate of 1.80%, due in monthly installments of $456, including interest, with final payment in February 2019 13,000 - Installment note payable to bank; interest rate of 4.37%, due in monthly installments of $42,121, including interest, with final payment in October 2019 550,000 - $ 689,000 $ 368,000 The notes are secured by specific equipment with a carrying value of approximately $896,000 as of September 30, 2016 and are nonrecourse liabilities of the Partnership. As such, the notes do not contain any financial debt covenants with which we must comply on either an annual or quarterly basis. Aggregate maturities of notes payable for each of the periods subsequent to September 30, 2016 are as follows: Amount Three months ended December 31, 2016 $ 84,000 Year ended December 31, 2017 247,000 Year ended December 31, 2018 183,000 Year ended December 31, 2019 175,000 $ 689,000

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Supplemental Cash Flow Information	Other noncash activities included in the determination of net loss are as follows: Nine months ended September 30, 2016 2015 Lease revenue net of interest expense on notes payable realized as a result of direct payment of principal by lessee to bank $ 250,000 $ 278,000 No interest or principal on notes payable was paid by the Partnership because direct payment was made by lessee to the bank in lieu of collection of lease income and payment of interest and principal by the Partnership. Noncash investing and financing activities include the following: Nine months ended September 30, 2016 2015 Debt assumed in connection with purchase of equipment $ 571,000 $ 37,000 Accrued expenses incurred in connection with the purchase of technology equipment $ 54,000 $ - During the nine months ended September 30, 2016 and 2015, the Partnership wrote-off fully amortized acquisition and finance fees of approximately $25,000 and $61,000, respectively. During the nine months ended September 30, 2016 and 2015, the Partnership wrote-off fully depreciated equipment of approximately $0 and $16,000, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Commitments and Contingencies	Allied Health Care Services As previously disclosed in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2015, management wrote off the fully reserved accounts receivable and fully impaired assets related to the lease to Allied Health Care Services, Inc. (“Allied”), due to the bankruptcy of Allied and the criminal conviction of its founder, Mr. Schwartz, for fraud. There have been no material changes in the status of Allied’s bankruptcy or in the likelihood of recovering available assets since the date of the Partnership’s annual report. The deadline for the bankruptcy trustee to pursue adversary claims against certain creditors has expired, including extensions. The bankruptcy trustee cannot seek to claim the Partnership's payments received from Allied, therefore the Partnership has no exposure to such potential claims. Commonwealth continues to pursue all of our rights against both Allied and Mr. Schwartz to recover any available assets to the greatest extent possible. During 2015, Commonwealth received an Allied bankruptcy settlement of approximately $448,000. The Partnership’s portion was approximately $242,000, which was included as a bad debt recovery in the 2015 fourth quarter statement of financial operations. The bankruptcy proceedings have been finalized and no further recovery is expected. Medshare In January 2015, CCC, on behalf of the Funds, entered into a Purchase Agreement (“Purchase Agreement”) for the sale of the equipment to Medshare Technologies (“Medshare”) for approximately $3,400,000. The Partnership’s share of the sale proceeds was approximately $77,000. As of June 30, 2016, the Partnership has received approximately $53,000 of the approximate $77,000 sale proceeds and has recorded a reserve against the outstanding receivable of approximately $7,000. On April 3, 2015 Medshare was obligated to make payment in full and failed to do so. As a result, Medshare defaulted on its purchase agreement with CCC and was issued a demand letter for full payment of the Equipment. On June 25, 2015, Medshare filed a lawsuit in Texas state court for breach of contract (“State Suit”). On June 26, 2015, Commonwealth filed a lawsuit in the Northern District of Texas against Medshare seeking payment in full and/or return of the Equipment and damages. In July 2016, CCC, on behalf of the Funds, entered into a $1,400,000 binding Settlement Agreement (“Settlement Agreement”) with Medshare and its principal owner, Chris Cleary (collectively referred to as “Defendants”), who are held jointly and severally liable for the entire settlement. On August 2, 2016, the Defendants made payment to CCC of an initial $200,000 to be followed by 24 structured monthly payments of approximately $50,000 per month to begin no later than September 15, 2016. The Partnership’s share of the Settlement Agreement is approximately $23,000 and is to be applied against the net Medshare receivable of approximately $18,000 as of the settlement date. The remaining $5,000 will be applied against the $7,000 reserve and recorded as a bad debt recovery. As of October 31, 2016, the Partnership received approximately $5,000 of the approximate $23,000 settlement agreement which was applied against the net Medshare receivable of approximately $18,000 as of the settlement date. Should the Defendants default at any time, the settlement agreement includes a consent judgment that allows CCC to seek immediate judgment against the Defendants from a court of competent jurisdiction for the liquidated damage amount of $1.5 million (less any payment received after execution of the agreement). The Partnership’s share of the judgment would be approximately $24,000. Based on discussions with counsel, management believes that the likelihood of loss is remote. As such, management believes that the settlement of the lawsuits will not result in any adverse financial impact on the Funds, but no assurance can be provided until the proceeding is resolved. FINRA On May 3, 2013, the FINRA Department of Enforcement filed a complaint naming Commonwealth Capital Securities Corp. (“CCSC”) and the owner of the firm, Kimberly Springsteen-Abbott, as respondents; however on October 22, 2013, FINRA filed an amended complaint that dropped the allegations against CCSC and reduced the scope of the allegations against Ms. Springsteen-Abbott. The sole remaining charge was that Ms. Springsteen-Abbott had approved the misallocation of some expenses to certain Funds. Management believes that the expenses at issue include amounts that were proper and that were properly allocated to Funds, and also identified a smaller number of expenses that had been allocated in error, but were adjusted and repaid to the affected Funds when they were identified in 2012. During the period in question, Commonwealth Capital Corp. (“CCC”) and Ms. Springsteen-Abbott provided important financial support to the Funds, voluntarily absorbed expenses and voluntarily waived fees in amounts aggregating in excess of any questioned allocations. That Panel ruled on March 30, 2015, that Ms. Springsteen-Abbott should be barred from the securities industry because the Panel concluded that she allegedly misallocated $208,000 of expenses involving certain Funds over the course of three years. As such, management has allocated approximately $87,000 of the $208,000 in allegedly misallocated expenses back to the affected funds as a contingency accrual in CCC’s financial statements and a good faith payment for the benefit of those Income Funds. Decisions issued by FINRA's Office of Hearing Officers may be appealed to FINRA's National Adjudicatory Council (NAC) pursuant to FINRA Rule 9311. The NAC Decision upheld the Panel’s ruling. Ms. Springsteen-Abbott has appealed the NAC Decision to the SEC. While a decision is on appeal with the SEC, the sanctions for disgorgement and fines are not enforced against the individual. The bar took effect on August 23, 2016. Management believes that resolution of the appeal will not result in any material adverse financial impact on the Funds, but no assurance can be provided until the FINRA matter is resolved.

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Policy Text Block [Abstract]
Basis of Presentation	The financial information presented as of any date other than December 31, 2015 has been prepared from the books and records without audit. The following unaudited condensed financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Financial information as of December 31, 2015 has been derived from the audited financial statements of the Partnership, but does not include all disclosures required by generally accepted accounting principles to be included in audited financial statements. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the financial information for the periods indicated, have been included. Operating results for the nine months ended September 30, 2016 are not necessarily indicative of financial results that may be expected for the full year ended December 31, 2016.
Recently Adopted Accounting Pronouncements	In June 2015, the FASB issued Accounting Standards Update No. 2015-10, Technical Corrections and Improvements- In January 2015, the FASB issued Accounting Standards Update No. 2015-01, Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.
Disclosure of Fair Value of Financial Instruments	Estimated fair value was determined by management using available market information and appropriate valuation methodologies. However, judgment was necessary to interpret market data and develop estimated fair value. Cash and cash equivalents, receivables, accounts payable and accrued expenses and other liabilities are carried at amounts which reasonably approximate their fair values as of September 30, 2016 and December 31, 2015 due to the short term nature of these financial instruments. The Partnership’s long-term debt consists of notes payable, which are secured by specific equipment and are nonrecourse liabilities of the Partnership. The estimated fair value of this debt at September 30, 2016 and December 31, 2015 approximates the carrying value of these instruments, due to the interest rates on the debt approximating current market interest rates. The Partnership classifies the fair value of its notes payable within Level 2 of the valuation hierarchy based on the observable inputs used to estimate fair value.
Cash and cash equivalents	We consider cash equivalents to be highly liquid investments with an original maturity of 90 days or less. At September 30, 2016, cash and cash equivalents was held in two accounts maintained at one financial institution with an aggregate balance of approximately $286,000. Bank accounts are federally insured up to $250,000 by the FDIC. At September 30, 2016, the total cash balance was as follows: At September 30, 2016 Balance Total bank balance $ 286,000 FDIC insured (250,000 ) Uninsured amount $ 36,000 The Partnership believes it mitigates the risk of holding uninsured deposits by only depositing funds with major financial institutions. The Partnership has not experienced any losses in our accounts, and believes it is not exposed to any significant credit risk. The amounts in such accounts will fluctuate throughout 2016 due to many factors, including cash receipts, equipment acquisitions, interest rates and distributions to limited partners.
Recent Accounting Pronouncements	In August 2016, the FASB issued Accounting Standards Update 2016-15— Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In March, April and May 2016, the FASB issued Accounting Standards Update- Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients, Identifying Performance Obligations and Licensing Principal versus Agent Considerations (Reporting Revenue Gross versus Net, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) Section A—Leases: Amendments to the FASB Accounting Standards Codification® Section B—Conforming Amendments Related to Leases: Amendments to the FASB Accounting Standards Codification® Section C—Background Information and Basis for Conclusions In January 2016, the FASB issued Accounting Standards Update No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In August 2015, the FASB issued Accounting Standards Update No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date In August 2014, the FASB issued Accounting Standards Update No. 2014 -15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2016
Table Text Block Supplement [Abstract]
Schedule of Cash and Cash Equivalents	At September 30, 2016 Balance Total bank balance $ 286,000 FDIC insured (250,000 ) Uninsured amount $ 36,000

Information Technology, Medic16

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Tables)	9 Months Ended
	Sep. 30, 2016
Table Text Block Supplement [Abstract]
Schedule of future minimum rentals on non-cancellable operating leases	Amount Three months ended December 31, 2016 $ 183,000 Year Ended December 31, 2017 296,000 Year Ended December 31, 2018 198,000 Year Ended December 31, 2019 180,000 $ 857,000
Net investment in direct financing leases	September 30, 2016 December31, 2015 Total minimum lease payments to be received $ 55,000 $ 89,000 Estimated residual value of leased equipment (unguaranteed) 20,000 20,000 Less: unearned income (4,000 ) (8,000 ) Initial direct costs finance leases 1,000 2,000 Net investment in finance leases $ 72,000 $ 103,000
Finance lease risk level	Risk Level Percent of Total Low -% Moderate-Low -% Moderate -% Moderate-High 100% High -% Net finance lease receivable 100%
Schedule of future minimum rentals on non-cancelable direct financing leases	Amount Three months ended December 31, 2016 $ 11,000 Year ended December 31, 2017 39,000 Year ended December 31, 2018 5,000 $ 55,000

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2016
Table Text Block Supplement [Abstract]
Schedule of Related Party Transactions	Nine months ended September 30, 2016 2015 Reimbursable Expenses The General Partner and its affiliates are entitled to reimbursement by the Partnership for the cost of goods, supplies or services obtained and used by the General Partner in connection with the administration and operation of the Partnership from third parties unaffiliated with the General Partner. In addition, the General Partner and its affiliates are entitled to reimbursement of certain expenses incurred by the General Partner and its affiliates in connection with the administration and operation of the Partnership. For the nine months ended September 30, 2016 and 2015, the Partnership was charged approximately $158,000 and $196,000 in Other LP expense, respectively. $ 384,000 $ 414,000 Equipment Acquisition Fee The General Partner earned an equipment acquisition fee of 4% of the purchase price of each item of equipment purchased as compensation for the negotiation of the acquisition of the equipment and lease thereof or sale under a conditional sales contract. For the nine months ended September 30, 2016, the General Partner earned acquisition fees from operating and finance leases of approximately $29,000 and $0, respectively. $ 29,000 $ 2,000 Equipment Management Fee The General Partner is entitled to be paid a monthly fee equal to the lesser of (a) the fees which would be charged by an independent third party in the same geographic market for similar services and equipment or (b) the sum of (i) two percent of gross lease revenues attributable to equipment subject to full payout net leases which contain net lease provisions and (ii) five percent of the gross lease revenues attributable to equipment subject to operating leases. Our general partner, based on its experience in the equipment leasing industry and current dealings with others in the industry, will use its business judgment to determine if a given fee is competitive, reasonable and customary. The amount of the fee will depend upon the amount of equipment we manage, which in turn will depend upon the amount we raise in this offering. Reductions in market rates for similar services would also reduce the amount of this fee we will receive. $ 35,000 $ 78,000 Debt Placement Fee As compensation for arranging term debt to finance our acquisition of equipment, we will pay the general partner a fee equal to one percent of such indebtedness; provided, however, that such fee shall be reduced to the extent we incur such fees to third parties unaffiliated with the general partner or the lender with respect to such indebtedness. No such fee will be paid with respect to borrowings from the general partner or its affiliates. We intend to initially acquire leases on an all cash basis with the proceeds of this offering, but may borrow funds after the offering proceeds have been invested. The amount we borrow, and therefore the amount of the fee, will depend upon interest rates at the time of a loan, and the amount of leverage we determine is appropriate at the time. We do not intend to use more than 30% leverage overall in our portfolio. Fees will increase as the amount of leverage we use increases, and as turnover in the portfolio increases and additional equipment is purchased using leverage. $ 6,000 $ 400 Equipment liquidation fee Also referred to as a "resale fee." With respect to each item of equipment sold by the general partner, we will pay a fee equal to the lesser of (i) 50% of the competitive equipment sale commission or (ii) three percent of the sales price of the equipment. The payment of this fee is subordinated to the receipt by the limited partners of (i) a return of their capital contributions and a 10% per annum cumulative return, compounded daily, on adjusted capital contributions and (ii) the net disposition proceeds from such sale in accordance with the partnership agreement. Our general partner, based on its experience in the equipment leasing industry and current dealings with others in the industry, uses its business judgment to determine if a given sales commission is competitive, reasonable and customary. Such fee will be reduced to the extent any liquidation or resale fees are paid to unaffiliated parties. The amount of such fees will depend upon the sale price of equipment sold. Sale prices will vary depending upon the type, age and condition of equipment sold. The shorter the terms of our leases, the more often we may sell equipment, which will increase liquidation fees we receive. For the nine months ended September 30, 2016, the General Partner earned but waived approximately $1,000 in equipment liquidation fees. $ - $ 4,000

Notes Payable (Tables)

Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2016
Table Text Block Supplement [Abstract]
Notes Payable	September 30, 2016 December 31, 2015 Installment note payable to bank; interest rate of 4.23%, due in quarterly installments of $5,665, including interest, with final payment in June 2016 $ - $ 11,000 Installment note payable to bank; interest rate of 4.85%, due in quarterly installments of $35,894, including interest, with final payment in August 2016 - 105,000 Installment note payable to bank; interest rate of 4.23%, due in quarterly installments of $6,288, including interest, with final payment in December 2016 6,000 25,000 Installment note payable to bank; interest rate of 1.60%, due in monthly installments of $2,775, including interest, with final payment in March 2017 17,000 41,000 Installment note payable to bank; interest rate of 1.60%, due in monthly installments of $5,138, including interest, with final payment in April 2017 35,000 81,000 Installment note payable to bank; interest rate of 4.85%, due in quarterly installments of $7,699, including interest, with final payment in July 2017 30,000 52,000 Installment note payable to bank; interest rate of 4.23%, due in quarterly installments of $420, including interest, with final payment in August 2017 2,000 3,000 Installment note payable to bank; interest rate of 4.88%, due in monthly installments of $1,058, including interest, with final payment in October 2017 13,000 22,000 Installment note payable to bank; interest rate of 4.23%, due in quarterly installments ranging from $1,370, to $1,927, including interest, with final payment in February 2018 19,000 28,000 Installment note payable to bank; interest rate of 4.23%, due in quarterly installments of $141 including interest, with final payment in October 2018 4,000 - Installment note payable to bank; interest rate of 1.80%, due in monthly installments of $456, including interest, with final payment in February 2019 13,000 - Installment note payable to bank; interest rate of 4.37%, due in monthly installments of $42,121, including interest, with final payment in October 2019 550,000 - $ 689,000 $ 368,000
Aggregate maturities of notes payable	Amount Three months ended December 31, 2016 $ 84,000 Year ended December 31, 2017 247,000 Year ended December 31, 2018 183,000 Year ended December 31, 2019 175,000 $ 689,000

Supplemental Cash Flow Inform19

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2016
Table Text Block Supplement [Abstract]
Other noncash activities	Nine months ended September 30, 2016 2015 Lease revenue net of interest expense on notes payable realized as a result of direct payment of principal by lessee to bank $ 250,000 $ 278,000
Noncash investing and financing activities	Nine months ended September 30, 2016 2015 Debt assumed in connection with purchase of equipment $ 571,000 $ 37,000 Accrued expenses incurred in connection with the purchase of technology equipment $ 54,000 $ -

Business (Details)

Business (Details)	9 Months Ended
	Sep. 30, 2016
Text Block [Abstract]
Entity Incorporation, State Country Name	Commonwealth of Pennsylvania

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Details)	Sep. 30, 2016USD ($)
Text Block [Abstract]
Total bank balance	$ 286,000
FDIC insured	(250,000)
Uninsured amount	$ 36,000

Information Technology, Medic22

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details)	Sep. 30, 2016USD ($)
Text Block [Abstract]
Three months ended December 31, 2016	$ 183,000
Year Ended December 31, 2017	296,000
Year Ended December 31, 2018	198,000
Year Ended December 31, 2019	180,000
Total	$ 857,000

Information Technology, Medic23

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details 1) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Text Block [Abstract]
Total minimum lease payments to be received	$ 55,000	$ 89,000
Estimated residual value of leased equipment (unguaranteed)	20,000	20,000
Less: unearned income	(4,000)	(8,000)
Initial direct costs finance leases	1,000	2,000
Net investment in finance leases	$ 72,000	$ 103,000

Information Technology, Medic24

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details 2)	Sep. 30, 2016
Text Block [Abstract]
Low	0.00%
Moderate-Low	0.00%
Moderate	0.00%
Moderate-High	100.00%
High	0.00%
Net finance lease receivable	100.00%

Information Technology, Medic25

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details 3)	Sep. 30, 2016USD ($)
Text Block [Abstract]
Three months ended December 31, 2016	$ 11,000
2,017	39,000
2,018	5,000
Total	$ 55,000

Information Technology, Medic26

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Text Block [Abstract]
Remarketing Fees Incurred	$ 0	$ 0
Equipment Shared	4,776,000		$ 5,111,000
Total Shared Equipment	10,578,000		11,246,000
Debt Shared	49,000		214,000
Outstanding Debt Total	$ 139,000		$ 660,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Text Block [Abstract]
Reimbursable Expenses	$ 384,000	$ 414,000
Equipment Acquisition Fees	29,000	2,000
Equipment Management Fee	35,000	78,000
Debt placement fees	6,000	400
Equipment liquidation fee	$ 0	$ 4,000

Notes Payable (Details)

Notes Payable (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Long-term Debt, Gross	$ 689,000	$ 368,000
Note 1
Debt Instrument, Description	Installment note payable to bank; interest rate of 4.23%, due in quarterly installments of $5,665, including interest, with final payment in June 2016
Long-term Debt, Gross	$ 0	11,000
Note 2
Debt Instrument, Description	Installment note payable to bank; interest rate of 4.85%, due in quarterly installments of $35,894, including interest, with final payment in August 2016
Long-term Debt, Gross	$ 0	105,000
Note 3
Debt Instrument, Description	Installment note payable to bank; interest rate of 4.23%, due in quarterly installments of $6,288, including interest, with final payment in December 2016
Long-term Debt, Gross	$ 6,000	25,000
Note 4
Debt Instrument, Description	Installment note payable to bank; interest rate of 1.60%, due in monthly installments of $2,775, including interest, with final payment in March 2017
Long-term Debt, Gross	$ 17,000	41,000
Note 5
Debt Instrument, Description	Installment note payable to bank; interest rate of 1.60%, due in monthly installments of $5,138, including interest, with final payment in April 2017
Long-term Debt, Gross	$ 35,000	81,000
Note 6
Debt Instrument, Description	Installment note payable to bank; interest rate of 4.85%, due in quarterly installments of $7,699, including interest, with final payment in July 2017
Long-term Debt, Gross	$ 30,000	52,000
Note 7
Debt Instrument, Description	Installment note payable to bank; interest rate of 4.23%, due in quarterly installments of $420, including interest, with final payment in August 2017
Long-term Debt, Gross	$ 2,000	3,000
Note 8
Debt Instrument, Description	Installment note payable to bank; interest rate of 4.88%, due in monthly installments of $1,058, including interest, with final payment in October 2017
Long-term Debt, Gross	$ 13,000	22,000
Note 9
Debt Instrument, Description	Installment note payable to bank; interest rate of 4.23%, due in quarterly installments ranging from $1,370, to $1,927, including interest, with final payment in February 2018
Long-term Debt, Gross	$ 19,000	28,000
Note 10
Debt Instrument, Description	Installment note payable to bank; interest rate of 4.23%, due in quarterly installments of $141 including interest, with final payment in October 2018
Long-term Debt, Gross	$ 4,000	0
Note 11
Debt Instrument, Description	Installment note payable to bank; interest rate of 1.80%, due in monthly installments of $456, including interest, with final payment in February 2019
Long-term Debt, Gross	$ 13,000	$ 28,000
Note 12
Debt Instrument, Description	Installment note payable to bank; interest rate of 4.37%, due in monthly installments of $42,121, including interest, with final payment in October 2019
Long-term Debt, Gross	$ 550,000

Notes Payable (Details 1)

Notes Payable (Details 1)	Sep. 30, 2016USD ($)
Text Block [Abstract]
Three months ended December 31, 2016	$ 84,000
Year ended December 31, 2017	247,000
Year ended December 31, 2018	183,000
Year ended December 31, 2019	175,000
Long-term Debt	$ 689,000

Notes Payable (Details Narrativ

Notes Payable (Details Narrative)	Sep. 30, 2016USD ($)
Text Block [Abstract]
Carrying Value - Equipment - Notes Payable	$ 896,000

Supplemental Cash Flow Inform31

Supplemental Cash Flow Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Text Block [Abstract]
Lease revenue net of interest expense on notes payable realized as a result of direct payment of principal by lessee to bank	$ 250,000	$ 278,000

Supplemental Cash Flow Inform32

Supplemental Cash Flow Information (Details 1) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Text Block [Abstract]
Debt assumed in connection with purchase of equipment	$ 571,000	$ 37,000
Accrual for distributions to partners paid in July (included in other accrued expenses)	$ 54,000	$ 0

Supplemental Cash Flow Inform33

Supplemental Cash Flow Information (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Text Block [Abstract]
Fully Amortized Fees Written Off	$ 25,000	$ 61,000
Fully Depreciated Equipment Written Off	$ 0	$ 16,000