LEAF Equipment Finance Fund 4 10-K 16 May 14 2013 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2013	Jun. 30, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'LEAF Equipment Finance Fund 4, L.P.	'
Entity Central Index Key	'0001426850	'
Current Fiscal Year End Date	'--12-31	'
Entity Well-known Seasoned Issuer	'No	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Public Float	'	$0
Entity Common Stock, Shares Outstanding	0	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'FY	'
Document Type	'10-K	'
Amendment Flag	'false	'
Document Period End Date	31-Dec-13	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
ASSETS	'	'
Cash	$229	$38
Restricted cash	8,147	11,552	[1]
Investment in leases and loans, net	32,494	85,302	[1]
Deferred financing costs, net	625	1,322	[1]
Other assets	50	92	[1]
Total assets	41,545	98,306	[1]
Liabilities:	'	'
Debt	25,870	72,701	[1]
Subordinated notes payable	9,295	9,355	[1]
Due to affiliates	6,284	2,472	[1]
Accounts payable, accrued expenses and other liabilities	1,052	1,380	[1]
Total liabilities	42,501	85,908	[1]
Commitments and contingencies (Note 11)	'	'	[1]
Partners' (Deficit) Capital:	'	'
General partner	-1,110	-978	[1]
Limited partners	67	13,080	[1]
Total partners' (deficit) capital	-1,043	12,102	[1]
Noncontrolling interest	87	296	[1]
Total (deficit) capital	-956	12,398	[1]
Total liabilities and capital	$41,545	$98,306	[1]
[1]	(restated)

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended		9 Months Ended		12 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2012		Jun. 30, 2012		Sep. 30, 2012		Dec. 31, 2013	Dec. 31, 2012
Revenues:	'		'		'		'	'
Interest on equipment financings	$2,610	[1]	$5,070	[1]	$7,214	[1]	$4,319	$8,974	[1]
Rental income	452	[1]	806	[1]	1,081	[1]	460	1,263	[1]
Gains on sale of equipment and lease dispositions, net	482	[1]	741	[1]	958	[1]	551	1,170	[1]
Other income	338	[1]	574	[1]	718	[1]	373	902	[1]
Revenues	3,882	[1]	7,191	[1]	9,971	[1]	5,703	12,309	[1]
Expenses:	'		'		'		'	'
Interest expense	3,631	[1]	6,789	[1]	9,880	[1]	6,688	12,304	[1]
Depreciation on operating leases	353	[1]	607	[1]	730	[1]	168	812	[1]
Provision for credit losses	6,941	[1]	9,944	[1]	12,252	[1]	5,612	18,059	[1]
General and administrative expenses	298	[1]	678	[1]	891	[1]	968	1,222	[1]
Administrative expenses reimbursed to affiliate	389	[1]	720	[1]	993	[1]	532	1,217	[1]
Expenses	11,612	[1]	18,738	[1]	24,746	[1]	13,968	33,614	[1]
Net loss	-7,730	[1]	-11,547	[1]	-14,775	[1]	-8,265	-21,305	[1]
Add: Net loss attributable to the noncontrolling interest	-49	[1]	-96	[1]	-153	[1]	209	185	[1]
Net loss attributable to LEAF 4 partners	-7,681	[1]	-11,451	[1]	-14,622	[1]	-8,056	-21,120	[1]
Net loss allocated to LEAF 4's limited partners	($7,604)	[1]	($11,336)	[1]	($14,476)	[1]	($7,975)	($20,909)	[1]
Weighted average number of limited partner units outstanding during the period (in units)	1,259,537	[1]	1,259,537	[1]	1,259,537	[1]	1,259,537	1,259,537	[1]
Net loss per weighted average limited partner unit (in dollars per unit)	($6.04)	[1]	($9)	[1]	($11.49)	[1]	($6.33)	($16.60)	[1]
[1]	(restated)

Consolidated_Statements_of_Cha

Consolidated Statements of Changes in Partners' (Deficit) Capital (USD $)	General Partner Amount [Member]		Limited Partners [Member]		Total Partners' (Deficit) Capital [Member]		Non-Controlling Interest [Member]	Total
In Thousands, except Share data, unless otherwise specified
Balance at Dec. 31, 2011	($716)	[1]	$39,027	[1]	$38,311	[1]	$481	$38,792	[1]
Balance (in units) at Dec. 31, 2011	'		1,259,537		'		'	'
Increase (Decrease) in Partners' Capital [Roll Forward]	'		'		'		'	'
Cash distributions paid	-51	[1]	-5,038	[1]	-5,089	[1]	0	-5,089	[1]
Net loss	-211	[1]	-20,909	[1]	-21,120	[1]	-185	-21,305	[1]
Balance at Dec. 31, 2012	-978	[1]	13,080	[1]	12,102	[1]	296	12,398	[1]
Balance (in units) at Dec. 31, 2012	'		1,259,537		'		'	'
Increase (Decrease) in Partners' Capital [Roll Forward]	'		'		'		'	'
Cash distributions paid	-51	[1]	-5,038	[1]	-5,089	[1]	0	-5,089	[1]
Net loss	-81	[1]	-7,975	[1]	-8,056	[1]	-209	-8,265
Balance at Dec. 31, 2013	($1,110)	[1]	$67	[1]	($1,043)	[1]	$87	($956)
Balance (in units) at Dec. 31, 2013	'		1,259,537		'		'	'
[1]	(restated)

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:	'	'
Net loss	($8,265)	($21,305)	[1]
Adjustments to reconcile net loss to net cash provided by operating activities:	'	'
Depreciation on operating leases	168	812	[1]
Amortization of discount on debt	1,724	3,804	[1]
Amortization of deferred charges	1,745	2,943	[1]
Provision for credit losses	5,612	18,059	[1]
Gain on extinguishment of subordinated note payable	-16	0	[1]
Gains on sales of equipment and lease dispositions, net	-551	-1,170	[1]
Changes in operating assets and liabilities:	'	'
Other assets	42	125	[1]
Due to affiliates	3,812	2,282	[1]
Accounts payable, accrued expenses, and other liabilities	-328	237	[1]
Net cash provided by operating activities	3,943	5,787	[1]
Cash flows from investing activities:	'	'
Purchases of leases and loans	0	-384	[1]
Proceeds from leases and loans	47,324	82,570	[1]
Security deposits returned, net of collections	-763	-1,815	[1]
Net cash provided by investing activities	46,561	80,371	[1]
Cash flows from financing activities:	'	'
Repayment of debt	-48,555	-89,013	[1]
Redemption of subordinated note payable	-44	0	[1]
Decrease in restricted cash	3,405	7,650	[1]
Increase in deferred financing costs	-30	-73	[1]
Cash distributions to partners	-5,089	-5,089	[1]
Net cash used in financing activities	-50,313	-86,525	[1]
Increase (decrease) in cash	191	-367	[1]
Cash, beginning of period	38	405	[1]
Cash, end of period	229	38
Cash paid for interest	$3,279	$5,637	[1]
[1]	(restated)

ORGANIZATION_AND_NATURE_OF_BUS

ORGANIZATION AND NATURE OF BUSINESS	12 Months Ended
	Dec. 31, 2013
ORGANIZATION AND NATURE OF BUSINESS [Abstract]	'
ORGANIZATION AND NATURE OF BUSINESS	'
	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS
	LEAF Equipment Finance Fund 4, L.P. (the “Fund”), a Delaware limited partnership, was formed on January 25, 2008 by its general partner, LEAF Asset Management, LLC (the “General Partner”), which manages the Fund. The General Partner is a Delaware limited liability company and a subsidiary of Resource America, Inc. (“RAI”). RAI is a publicly traded company (NASDAQ: REXI) that uses industry specific expertise to evaluate, originate, service and manage investment opportunities through its commercial finance, real estate and financial fund management segments. Through its offering termination date of October 30, 2009, the Fund raised $125.7 million by selling 1.2 million of its limited partner units. It commenced operations in September 2008.
	The Fund is expected to have a nine-year life, consisting of an offering period of up to two years, a five-year reinvestment period and a subsequent maturity period of two years, during which the Fund’s leases and secured loans will either mature or be sold. In the event the Fund is unable to sell its leases and loans during the maturity period, the Fund expects to continue to return capital to its partners as those leases and loans mature. All of the Fund’s leases and loans mature by the end of 2032. The Fund expects to enter its maturity period beginning in October 2014.  The Fund will terminate on December 31, 2032, unless sooner dissolved or terminated as provided in the Limited Partnership Agreement.
	The Fund has acquired a diversified portfolio of equipment leases and secured loans to end users throughout the United States as well as the District of Columbia and Puerto Rico. The Fund also acquires existing portfolios from other equipment finance companies.  Through December 31, 2013, we have acquired $635.3 million in leases and secured loans which have amortized down to $32.5 million as of December 31, 2013.  The primary objective of the Fund is to generate regular cash distributions to its partners from its equipment finance portfolio over the life of the Fund.
	In addition to its 1% general partnership interest, the General Partner has also invested $1.0 million for a 0.85% limited partnership interest in the Fund.

RESTATEMENT_OF_CONSOLIDATED_FI

RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012	12 Months Ended
	Dec. 31, 2013
RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012 [Abstract]	'
RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012	'
	NOTE 2 – RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
	In April 2014, the general partner of the Fund made a determination to restate the Fund’s previously filed consolidated financial statements as of and for the quarter ended March 31, 2012 and that had a continuing impact through the quarters ended September 30, 2013, to correct the valuation of its provision and allowance for loan losses.  In particular, it was determined that in evaluating a loan receivable from a loan held by a consolidated subsidiary, LEAF Commercial Finance Fund LLC, for impairment, the Fund did not properly value the collateral securing the loan because it had not appropriately applied the terms of an agreement entered into in January 2012.   The correction increased the Fund’s provision for credit losses for the year ended 2012 by approximately $4.0 million.
	See the restated consolidated statement of operations below for the effects of the restatement on net loss for the year ended December 31, 2012.  In addition, see Note 12, “Unaudited Quarterly Financial Data and Restatement of Interim Financial Statements” for the effects of the restatement on net loss for the quarters in 2012 and 2013 for which interim financial statements were issued.
	The following sets forth the effect of the restatement on the applicable line items on the Company’s consolidated balance sheet for the year ended December 31, 2012 (in thousands):
		Year Ended December 31, 2012
		2012			Restatement			2012
					Adjustments
		(as filed)						(restated)
	ASSETS
	Cash	$	38		$	−		$	38
	Restricted cash		11,552			−			11,552
	Investment in leases and loans, net		89,302			(4,000	)		85,302
	Deferred financing costs, net		1,322			−			1,322
	Other assets		92			−			92
	Total assets	$	102,306		$	(4,000	)	$	98,306
	LIABILITIES AND PARTNERS’ (DEFICIT) CAPITAL
	Liabilities:
	Debt	$	72,701		$	−		$	72,701
	Subordinated notes payable		9,355			−			9,355
	Due to affiliates		2,472			−			2,472
	Accounts payable, accrued expenses, and other liabilities		1,380			−			1,380
	Total liabilities		85,908			−			85,908
	Commitments and contingencies
	Partners’ (Deficit) Capital:
	General partner		(938	)		(40	)		(978	)
	Limited partners		17,040			(3,960	)		13,080
	Total partners' (deficit) capital		16,102			(4,000	)		12,102
	Noncontrolling interest		296			−			296
	Total (deficit) capital		16,398			(4,000	)		12,398
	Total liabilities and capital	$	102,306		$	(4,000	)	$	98,306
	The following sets forth the effect of the restatement on the applicable line items in the Company’s consolidated statement of operations for the year ended December 31, 2012 (in thousands, except unit and per unit data):
		Year Ended December 31, 2012
		2012			Restatement			2012
					Adjustments
		(as filed)						(restated)
	Revenues:
	Interest on equipment financings	$	8,974		$	-		$	8,974
	Rental income		1,263			-			1,263
	Gains on sales of equipment and lease dispositions, net		1,170			-			1,170
	Other income		902			-			902
			12,309			-			12,309
	Expenses:
	Interest expense		12,304			-			12,304
	Depreciation on operating leases		812			-			812
	Provision for credit losses		14,059			4,000			18,059
	General and administrative expenses		1,222			-			1,222
	Administrative expenses reimbursed to affiliate		1,217			-			1,217
			29,614			4,000			33,614
	Net loss		(17,305	)		(4,000	)		(21,305	)
	Add:  Net loss attributable to the noncontrolling interest		185			-			185
	Net loss attributable to LEAF 4 partners	$	(17,120	)	$	(4,000	)	$	(21,120	)
	Net loss allocated to LEAF 4's limited partners	$	(16,949	)	$	(3,960	)	$	(20,909	)
	Weighted average number of limited partner units outstanding during the period		1,259,537						1,259,537
	Net loss per weighted average limited partner unit	$	(13.45	)	$	(3.15	)	$	(16.60	)
	The following sets forth the effect of the restatement on the applicable line items in the Company’s consolidated statement of cash flows for the year ended December 31, 2012 (in thousands):
		Year Ended December 31, 2012
		2012			Restatement			2012
					Adjustments
		(as filed)						(restated)
	Cash flows from operating activities:
	Net loss	$	(17,305	)	$	(4,000	)	$	(21,305	)
	Adjustments to reconcile net loss to net cash provided by operating activities:
	Depreciation on operating leases		812			-			812
Amortization of discount on debt		3,804			-			3,804
Amortization of deferred charges		2,943			-			2,943
Provision for credit losses		14,059			4,000			18,059
Gain on extinguishment of subordinated note payable		-			-			-
Gains on sales of equipment and lease dispositions, net		(1,170	)		-			(1,170	)
Changes in operating assets and liabilities:
Other assets		125			-			125
Due to affiliates		2,282			-			2,282
Accounts payable, accrued expenses, and other liabilities		237			-			237
Net cash provided by operating activities	$	5,787		$	-		$	5,787

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2013
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	The consolidated financial statements include the accounts of the Fund and its wholly owned subsidiary LEAF Receivables Funding 4, LLC. The consolidated financial statements also include LEAF Funds Joint Venture 2, LLC (“LEAF Funds JV2”) and its subsidiaries LEAF Commercial Finance Fund, LLC (LCFF) and LEAF Receivables Funding 6, LLC, as well as LEAF Funding, LLC (“LEAF Funds JV1”) and its wholly owned subsidiaries LEAF Capital Funding III, LLC and LEAF Receivables Funding II, LLC. The Fund maintains a 98%, and 96% ownership interest in LEAF Funds JV2 and LEAF Funds JV1, respectively. All intercompany accounts and transactions have been eliminated in consolidation.
	The Fund reflects the participation of LEAF Equipment Leasing Income Fund III, L.P. (“LEAF III”) in the net assets and in the income or losses of LEAF Funds JV1 and LEAF Funds JV2 as noncontrolling interests in the consolidated balance sheets and statements of operations. Noncontrolling interest adjusts the Fund’s consolidated operating results to reflect only the Fund’s share of the earnings or losses of LEAF Funds JV1 and LEAF Funds JV2.
	Use of Estimates
	Preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the allowance for credit losses and the estimated unguaranteed residual values of leased equipment. The Fund bases its estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.
	Restricted Cash
	The Fund had restricted cash of approximately $8.1 million and $11.6 million as of December 31, 2013 and 2012, respectively.  Restricted cash as of December 31, 2013 included cash being held in reserve by the Fund’s lenders of approximately $8.072 million and $75,000 of customer payments deposited into a lockbox shared with the General Partner and other entities serviced by the Fund’s General Partner. The lockbox is in the name of U.S. Bank NA as trustee under an inter-creditor agreement amongst LEAF Financial, the other entities and their respective lenders. These amounts represent customer payments received by the lockbox, applied to the respective customer’s accounts, but not yet transferred to the Fund’s bank account.
	Concentration of Credit Risk
	As of December 31, 2013, 29% of the Fund’s leases and loans were located in New York.  No other state accounted for more than 10% of the Fund’s leases and loans as of December 31, 2013.  Also, as of December 31, 2013, 42%, 28%, and 17% of the Fund’s leases and loans were in the services, finance/insurance/real estate, and retail trade types of business, respectively.  No other type of business accounted for more than 10% of the Fund’s leases and loans as of December 31, 2013.  In addition, no individual end user accounted for more than 10% of the Fund’s leases and loans as of December 31, 2013.
	Investments in Commercial Finance Assets
	The Fund’s investments in commercial finance assets consist of direct financing leases, operating leases, loans and future payment card receivables.
	Direct Financing Leases. Certain of the Fund’s lease transactions are accounted for as direct financing leases (as distinguished from operating leases). Such leases transfer substantially all benefits and risks of equipment ownership to the customer. The Fund’s investment in direct financing leases consists of the sum of the total future minimum lease payments receivable and the estimated unguaranteed residual value of leased equipment, less unearned finance income. Unearned finance income, which is recognized as revenue over the term of the financing by the effective interest method, represents the excess of the total future minimum contracted payments plus the estimated unguaranteed residual value expected to be realized at the end of the lease term over the cost of the related equipment.
	Unguaranteed residual value represents the estimated amount to be received at lease termination from lease extensions or ultimate disposition of the leased equipment. The estimates of residual values are based upon the General Partner’s history with regard to the realization of residuals, available industry data and the General Partner’s senior management’s experience with respect to comparable equipment. The estimated residual values are recorded as a component of investments in leases. Residual values are reviewed periodically to determine if the current estimate of the equipment’s fair market value appears to be below its recorded estimate. If required, residual values are adjusted downward to reflect adjusted estimates of fair market values. Upward adjustments to residual values are not permitted.
	Operating Leases. Leases not meeting the criteria to be classified as direct financing leases are deemed to be operating leases. Under the accounting for operating leases, the cost of the leased equipment, including acquisition fees associated with lease placements, is recorded as an asset and depreciated on a straight-line basis over the equipment’s estimated useful life, generally up to seven years. Rental income consists primarily of monthly periodic rental payments due under the terms of the leases. The Fund recognizes rental income on a straight line basis.
	Generally, during the lease terms of existing operating leases, the Fund will not recover all of the cost and related expenses of its rental equipment and, therefore, it is prepared to remarket the equipment in future years. The Fund’s policy is to review, on a quarterly basis, the expected economic life of its rental equipment in order to determine the recoverability of its undepreciated cost. The Fund writes down its rental equipment to its estimated net realizable value when it is probable that its carrying amount exceeds such value and the excess can be reasonably estimated; gains are only recognized upon actual sale of the rental equipment.
	Loans. For term loans, the investment in loans consists of the sum of the total future minimum loan payments receivable less unearned finance income. Unearned finance income, which is recognized as revenue over the term of the financing by the effective interest method, represents the excess of the total future minimum contracted loan payments over the cost of the loan. For all other loans, interest income is recorded at the stated rate on the accrual basis to the extent that such amounts are expected to be collected.
	Allowance for Credit Losses. The Fund evaluates the adequacy of the allowance for credit losses (including investments in leases and loans) based upon, among other factors, management’s historical experience on the portfolios it manages, an analysis of contractual delinquencies, economic conditions and trends and equipment finance portfolio characteristics, adjusted for expected recoveries.  In evaluating historic performance of the Fund’s leases and loans, the Fund performs a migration analysis, which estimates the likelihood that an account progresses through delinquency stages to ultimate charge-off unless individually reviewed for impairment.  In an individual review for impairment the Fund considers the loans performance, probability of repayment, and general and local economic conditions when assessing whether impairment is necessary.  Substantially all of the Fund’s leases and loans evaluated for impairment on an individual basis include an analysis of the market values of underlying collateral values, as adjusted for estimated selling and other closing costs. After an account becomes 180 or more days past due, any remaining balance is fully-reserved less an estimated recovery amount. Generally, past due accounts are referred to our internal recovery group consisting of a team of credit specialists and collectors. The group utilizes several resources in an attempt to maximize recoveries on charged-off accounts including: 1) initiating litigation against the end user customer and any personal guarantor, 2) referring the account to an outside law firm or collection agency and/or 3) repossessing and remarketing the equipment through third parties.
	The Fund’s policy is to charge off to the allowance those financings which are in default and for which it is probable management will be unable to collect all amounts contractually owed. The Fund discontinues the recognition of revenue for leases and loans for which payments are more than 90 days past due. As of December 31, 2013 and, 2012, the Fund had $9.2 million and $16.1 million, respectively, of leases and loans on non-accrual status. Payments received while leases and loans are on non-accrual status are recorded as a reduction of principal. Generally income recognition resumes when a lease or loan becomes less than 90 days delinquent, unless certain factors specific to those leases or loans continue to raise concerns as to future collectability.
	Income Taxes
	Federal and state income tax laws provide that the income or losses of the Fund are reportable by the partners on their individual income tax returns. Accordingly, no provision for such taxes has been made in the accompanying financial statements.
	Transfers of Financial Assets
	In connection with establishing its debt facilities with its banks, the Fund has formed bankruptcy remote special purpose entities through which the financings are arranged. The Fund’s transfers of assets to these special purpose entities do not qualify for sales accounting treatment due to certain call provisions that the Fund maintains. Accordingly, assets and related debt of the special purpose entities are included in the Fund’s consolidated balance sheets. The Fund’s leases and restricted cash are assigned as collateral for these borrowings and there is no further recourse to the general credit of the Fund. Collateral in excess of these borrowings represents the Fund’s maximum loss exposure.
	Comprehensive Income (Loss)
	Comprehensive income (loss) includes net income (loss) and all other changes in the equity of a business during a period from transactions and other events and circumstances from non-owner sources. Comprehensive income (loss) for the Fund was equal to net income (loss) for the years ended December 31, 2013 and 2012.
	Allocation of Partnership Income, Loss, Cash Distributions, and Net Loss Per Limited Partner Unit
	The Fund allocates net income, net loss, and cash distributions as follows:  99% to the limited partners and 1% to the general partner.
	Net loss per limited partner unit is computed by dividing net loss allocated to limited partners by the weighted average number of limited partner units outstanding during the period. The weighted average number of limited partner units outstanding during the period is computed based on the number of limited partner units issued during the period weighted for the days outstanding during the period.
	Recent Accounting Standards
	Accounting Standards Recently Adopted
	In April 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-07, Presentation of Financial Statements (Topic 205): Liquidation Basis of Accounting (ASU 2013-07 or the Update). The Update provides clarification and guidance regarding:
		•	When an entity should apply the liquidation basis of accounting,
		•	The recognition and measurement of assets and liabilities, and
		•	Financial statement presentation and disclosure requirements.
	Entities with a limited life (i.e., certain partnerships) are expected to liquidate at a specified time and in an orderly manner as disclosed in their governing documents. If a limited life fund ceases its operations and liquidates its assets and liabilities in accordance with its original plan for liquidation, the entity is not required to adopt the liquidation basis of accounting in accordance with the Update.  While the Update is effective for entities with annual reporting periods beginning after December 15, 2013 (and interim periods therein), the Fund has early adopted the Update in 2013 with no impact to the financial statements.

INVESTMENT_IN_LEASES_AND_LOANS

INVESTMENT IN LEASES AND LOANS	12 Months Ended
	Dec. 31, 2013
INVESTMENT IN LEASES AND LOANS [Abstract]	'
INVESTMENT IN LEASES AND LOANS	'
	NOTE 4 – INVESTMENT IN LEASES AND LOANS
	The Fund’s investment in leases and loans, net, consists of the following (in thousands):
			December 31,
			2013			2012
						(restated)
	Direct financing leases (1)		$	6,908		$	25,970
	Loans (2)			33,531			67,907
	Operating leases			105			345
				40,544			94,222
	Allowance for credit losses			(8,050	)		(8,920	)
			$	32,494		$	85,302
		-1	The Fund’s direct financing leases are for initial lease terms generally ranging from 24 to 180 months.
		-2	The interest rates on loans generally range from 5% to 18%.
	The components of direct financing leases and loans are as follows (in thousands):
			December 31,
			2013						2012
			Leases			Loans			Leases			Loans
												(restated)
	Total future minimum lease payments		$	5,620		$	35,227		$	24,873		$	74,448
	Unearned income			(303	)		(1,295	)		(1,280	)		(5,271	)
	Residuals, net of unearned residual income (1)			1,676			-			2,591			-
	Security deposits			(85	)		(401	)		(214	)		(1,270	)
			$	6,908		$	33,531		$	25,970		$	67,907
		-1	Unguaranteed residuals for direct financing leases represent the estimated amounts recoverable at lease termination from lease extensions or disposition of the equipment.
	The Fund’s investment in operating leases, net, consists of the following (in thousands):
			December 31,
			2013			2012
	Equipment		$	1,487		$	2,723
	Accumulated depreciation			(1,382	)		(2,378	)
			$	105		$	345
	At December 31, 2013, the future payments scheduled to be received on non-cancelable commercial finance assets for each of the five succeeding annual periods ending December 31, and thereafter, are as follows (in thousands):
			Direct
			Financing						Operating
			Leases			Loans (1)			Leases (2)			Totals
	2014		$	4,183		$	11,810		$	12		$	16,005
	2015			878			6,789			–			7,667
	2016			300			4,549			–			4,849
	2017			179			2,520			–			2,699
	2018			51			943			–			994
	Thereafter			29			603			–			632
			$	5,620		$	27,214		$	12		$	32,846
		-1	Loans are presented exclusive of approximately $8.013 million related to certain loans for which the timing of collectability is unknown.
		-2	Operating lease amounts as shown are net of the residual value, if any, at the end of the lease term.

ALLOWANCE_FOR_CREDIT_LOSSES_AN

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY	12 Months Ended
	Dec. 31, 2013
ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY [Abstract]	'
ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY	'
	NOTE 5 – ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY
	The following table is an age analysis of the Fund’s receivables from leases and loans, presented gross of allowance for credit losses of $8.1 million and $8.9 million as of December 31, 2013 and 2012, respectively (in thousands):
			December 31,
			2013						2012
	Age of receivable		Investment in leases and loans			%			Investment in leases and loans		%
									(restated)		(restated)
	Current (a)		$	38,339			95	%	$	90,489		96	%
	Delinquent:
	31 to 91 days past due			1,351			3	%		2,848		3	%
	Greater than 91 days (b)			854			2	%		885		1	%
			$	40,544			100	%	$	94,222		100	%
		(a)	Included in this category are approximately $8.378 million and $15.217 million as of December 31, 2013 and December 31, 2012, respectively, of certain loans which are systematically current but are on the cost recovery method due to continued uncertainty as to collectability of future payments due.  This secured loan obligation totals $1.1 million.  The obligor of this loan is another finance company that is no longer operating.  Collateral for the loan is a pool of loans to construction companies and developers.  The Fund has been in the process of monetizing the underlying collateral for the loan via sale.  The Fund has written the loan down to the net realizable value of the underlying collateral.
		(b)	All leases and loans are individually or collectively evaluated for impairment.
	The Fund had $9.2 million and $16.1 million of leases and loans on non-accrual status as of December 31, 2013 and 2012, respectfully. The credit quality of the Fund’s investment in leases and loans is as follows (in thousands):
			December 31,
			2013			2012
						(restated)
	Performing		$	31,312		$	78,120
	Nonperforming			9,232			16,102
			$	40,544		$	94,222
	The Company’s investment in non-performing leases and loans as of December 31, 2013 and 2012 was collectively evaluated for impairment, except for certain asset backed loans that were individually evaluated for impairment (see above for more information).  The following table summarizes the annual activity in the allowance for credit losses (in thousands):
			Years Ended December 31,
			2013			2012
						(restated)
	Allowance for credit losses, beginning of year		$	8,920		$	4,410
	Provision for credit losses			5,612			18,059
	Charge-offs			(7,975	)		(14,605	)
	Recoveries			1,493			1,056
	Allowance for credit losses end of year		$	8,050		$	8,920
	Allowance for credit losses:
	Ending balance, individually evaluated for impairment		$	7,230		$	8,080
	Ending balance, collectively evaluated for impairment			820			840
	Balance, end of year		$	8,050		$	8,920
	Recorded investment  in leases and term loans:
	Ending balance, individually evaluated for impairment		$	8,378		$	15,217
	Ending balance, collectively evaluated for impairment			32,166			79,005
	Balance, end of year		$	40,544		$	94,222

DEFERRED_FINANCING_COSTS

DEFERRED FINANCING COSTS	12 Months Ended
	Dec. 31, 2013
DEFERRED FINANCING COSTS [Abstract]	'
DEFERRED FINANCING COSTS	'
	NOTE 6 – DEFERRED FINANCING COSTS
	As of December 31, 2013 and 2012, deferred financing costs include $625,000 and $1.3 million, respectively, of unamortized deferred financing costs which are being amortized over the terms of the estimated useful life of the related debt. Accumulated amortization as of December 31, 2013 and 2012 was $5.2 million and $4.5 million, respectively.

DEBT

DEBT	12 Months Ended
	Dec. 31, 2013
DEBT [Abstract]	'
DEBT	'
	NOTE 7 –DEBT
	The Fund’s debt consists of the following, net of original issue discount of $1.4 million and $3.2 million at December 31, 2013 and 2012, respectively (in thousands):
		31-Dec-13						December 31,
								2012
				Outstanding			Interest rate per	Outstanding
		Type		Balance (1)			annum	Balance
	2011-1 Term Securitization	Term		$	13,239		1.7% to 5.5%	$	29,446
	2010-1 Term Securitization	Term			3,311		5.00%		9,330
	2010-3 Term Securitization	Term			10,766		3.5% to 5.5%		37,095
				$	27,316			$	75,871
	Less:  Unamortized Original Issue Discount				(1,446	)			(3,170	)
				$	25,870			$	72,701
		-1	These borrowings are collateralized by specific leases and loans and restricted cash. As of December 31, 2013, $30.0 million of leases and loans and $8.1 million of restricted cash were pledged as collateral under the Fund’s term securitizations. Recourse under these securitizations is limited to the amount of collateral pledged.
	Series 2011-1 Term Securitization.  In January 2011, a previous lender was paid-off with the proceeds from the 2011-1 Term Securitization (The “2011-1 Term Securitization”) in which six classes of asset-backed notes were issued that have varying maturity dates ranging  from December 2018 to December 2023. The asset-backed notes totaled $96.0 million, bear interest at fixed, stated rates ranging from 1.7% to 5.5%, and were issued at an original discount of approximately $6.2 million.
	Series 2010-1 Term Securitization.  In May 2010, three classes of asset-backed notes were issued (The “2010-1 Term Securitization”), one that matures in October 2016 and two that mature in September 2018, respectively. The asset-backed notes total $92.7 million and bear interest at a fixed, stated rate of 5% and were issued at an original discount of $6.5 million.
	Series 2010-3 Term Securitization.  In August 2010, five classes of asset-backed notes were issued (The “2010-3 Term Securitization”), one that matures in June 2016 and four that mature in February 2022, respectively. The asset-backed notes total $171.4 million and bear interest at fixed, stated rates ranging from 3.5% to 5.5% and were issued at an original discount of $3.7 million.
	Covenants:  The Fund’s securitizations are serviced by an affiliate of the Fund’s General Partner (the “Servicer”).  If the Servicer of the Fund’s portfolio does not comply with certain requirements, then the noteholders have the right to replace the Servicer.  The servicing agreements were amended in 2013 to increase the cumulative net loss percentages as the portfolio has exceeded the allowed cumulative net loss amount. In addition, the servicing agreements and the indentures on these facilities were amended to establish an additional reserve account to be funded by cash flows on leases and loans that will be used by the trustee as additional collateral.  These events do not constitute events of default.  The portfolio has not been in compliance with the cumulative net loss percentage trigger level on the 2011-1 term securitization since October 31, 2013, of which the trustee, rating agency, and investors are aware.
	Additionally, the Fund is not, nor has been, delinquent on any payments owed to the noteholders.
	Debt Repayments: Estimated annual principal payments on the Fund’s aggregate borrowings (presented gross of original issue discount of $1.4 million at December 31, 2013) over the next five years ended December 31, and thereafter, are as follows (in thousands):
	31-Dec-14		$	11,356
	31-Dec-15			7,602
	31-Dec-15			4,168
	31-Dec-17			2,688
	31-Dec-18			960
	Thereafter			542
			$	27,316

SUBORDINATED_NOTES_PAYABLE

SUBORDINATED NOTES PAYABLE	12 Months Ended
	Dec. 31, 2013
SUBORDINATED NOTES PAYABLE [Abstract]	'
SUBORDINATED NOTES PAYABLE	'
	NOTE 8 – SUBORDINATED NOTES PAYABLE
	LEAF Commercial Finance Fund, LLC (“LCFF”), a subsidiary of LEAF Funds JV2, has $9.3 million of 8.25% secured promissory notes (the “Notes”) outstanding, which are recourse to LCFF only. The Notes have a six-year term and require interest only payments until their maturity in February 2015.  LCFF may call or redeem the Notes, in whole or in part, at any time during the interest only period.
	Noteholders may request, in writing, the redemption of all or a portion of the Notes at any time as long as it does not materially impair the capital or operations of the Company or its ability to repay its remaining Note obligations.  Any Note redeemed by the Company shall be deemed to be paid in full upon payment to the noteholder.  During the second quarter of 2013, a $60,000 note was redeemed by a noteholder for $44,500, and a gain of $15,500 was recognized in the consolidated statement of operations.
	Covenants:  The Notes are subject to various covenants as set forth in their indenture, including an interest coverage ratio test, which LCFF was not in compliance with through 2013.  LCFF notified the Trustee and noteholders of this breach.  As a result, the noteholders have the right to declare an event of default, which to date has not occurred.  If the noteholders would declare an event of default, they have various rights and remedies available to them including (1) the right to declare all amounts currently outstanding under the Notes as immediately due and payable; (2) the right to take immediate possession of the assets of LCFF; and (3) the right to sell or otherwise dispose of the assets of LCFF in their current condition.  If the noteholders choose to repossess and sell LCFF’s assets, such a sale of a portfolio could be at prices lower than its carrying value, which could result in losses to the Fund. At December 31, 2013, LCFF had approximately $17.7 million in commercial finance assets, of which $13.6 million had been pledged as collateral on the 2011-1 Term Securitization.
	Notwithstanding the foregoing, LCFF is not, nor has been, delinquent on any payments of interest owed to the noteholders.

FAIR_VALUE_MEASUREMENT

FAIR VALUE MEASUREMENT

12 Months Ended

Dec. 31, 2013

FAIR VALUE MEASUREMENT [Abstract]

'

FAIR VALUE MEASUREMENT

'

NOTE 9 – FAIR VALUE MEASUREMENT

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal or most advantageous market for the asset or liability at the measurement date (exit price). U.S. GAAP establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1) and the lowest priority to unobservable inputs (level 3). The level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the measurement in its entirety.

•

Level 1 – Quoted prices in active markets for identical assets and liabilities that the reporting entity has the ability to access at the measurement date.

•

Level 2 – Observable inputs other than quoted prices included within Level 1, such as quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets.

•

Level 3 – Unobservable inputs that reflect the entity’s own assumptions about the assumptions that market participants would use in the pricing of the asset or liability and are consequently not based on market activity, but rather through particular valuation techniques.

Subsequent to the 2011-1 Term Securitization, all of the funds debt was on as fixed rate basis and the funds interest rate swaps were terminated. Accordingly, there were no assets or liabilities measured at fair value at December 31, 2013 or 2012.

The Fund is also required to disclose the fair value of financial instruments not measured at fair value for which it is practicable to estimate that value.  For cash, restricted cash, receivables, and payables, the carrying amounts approximate fair value because of the short term maturity of these instruments.

The methods used to estimate the fair value on bank debt that is not measured at fair value, the level within the fair value hierarchy that those fair value measurements are categorized, and the carrying value of the Fund’s debt at December 31, 2013 is as follows (in thousands):

Carrying Value

Fair Value Measurements Using

Liabilities At Fair Value

Level 1

Level 2

Level 3

Debt

$

25,870

$

−

$

24,094

$

−

$

24,094

The fair value of the debt at December 31, 2013 was determined using quoted prices from a broker-dealer as of the measurement date.

CERTAIN_RELATIONSHIPS_AND_TRAN

CERTAIN RELATIONSHIPS AND TRANSACTIONS WITH AFFILIATES	12 Months Ended
	Dec. 31, 2013
CERTAIN RELATIONSHIPS AND TRANSACTIONS WITH AFFILIATES [Abstract]	'
CERTAIN RELATIONSHIPS AND TRANSACTIONS WITH AFFILIATES	'
	NOTE 10 – CERTAIN RELATIONSHIPS AND TRANSACTIONS WITH AFFILIATES
	The Fund relies on the General Partner and its affiliates to manage the Fund’s operations and pays the General Partner or its affiliates fees to manage the Fund. The following is a summary of fees and costs of services and materials charged by the General Partner or its affiliates (in thousands):
		Years Ended December 31,
		2013		2012
	Administrative expenses	$	532	$	1,217
	Management Fees. The General Partner was paid a subordinated annual asset management fee equal to 4% of gross rental payments for operating leases or 2% for full payout leases or a competitive fee, whichever was less. However, the General Partner waived approximately $1.0 million and $1.8 million of management fees for the years ended December 31, 2013 and 2012, respectively, and $7.4 million have been waived on a cumulative basis. The General Partner has waived all future management fees.
	Administrative Expenses. The Fund reimburses the General Partner and its affiliates for certain costs of services and materials used by or for the Fund except those items covered by the above-mentioned fees.
	Due to Affiliates. Due to affiliates includes amounts due to the General Partner and LEAF Financial related to acquiring and managing portfolios of equipment, management fees and reimbursed expenses.
	Distributions. The General Partner owns a 1% general partner interest and 0.85% limited partner interest in the Fund. The General Partner was paid cash distributions of $51,000 for its general partner interests for each year ended December 31, 2013 and 2012, respectively, and $43,000 for its limited partner interests for each year ended December 31, 2013 and 2012, respectively.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2013
COMMITMENTS AND CONTINGENCIES [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	NOTE 11 – COMMITMENTS AND CONTINGENCIES
	The Fund is party to various routine legal proceedings arising out of the ordinary course of its business. Management believes that none of these actions, individually or in the aggregate, will have a material adverse effect on the Fund’s financial condition or results of operations.

UNAUDITED_QUARTERLY_FINANCIAL_

UNAUDITED QUARTERLY FINANCIAL DATA AND RESTATEMENT OF INTERIM FINANCIAL STATEMENTS	12 Months Ended
	Dec. 31, 2013
UNAUDITED QUARTERLY FINANCIAL DATA AND RESTATEMENT OF INTERIM FINANCIAL STATEMENTS [Abstract]	'
UNAUDITED QUARTERLY FINANCIAL DATA AND RESTATEMENT OF INTERIM FINANCIAL STATEMENTS [Text Block]	'
	NOTE 12 – UNAUDITED QUARTERLY FINANCIAL DATA AND RESTATEMENT OF INTERIM FINANCIAL STATEMENTS
	The aforementioned adjustment occurring in January 2012 impacted the previously reported balance sheet as of March 31, 2012, with a continuing impact through each subsequent quarter in 2012 and 2013, and the previously reported consolidated statements of operations and cash flows for the three, six, and nine months ended March 31, 2012, June 30, 2012, and September 30, 2012, respectively.  The previously reported consolidated statements of operations and cash flows for the three months ended June 30, 2012 and September 30, 2012 remain unchanged, in addition to the related quarter-to-date and year-to-date previously reported statements of operations and cash flows for the periods ended March 31, 2013, June 30, 2013, and September 30, 2013.  The effects of this adjustment on each of these previously issued unaudited interim financial statements is seen below.
	As the adjustment occurred during Q1 2012, the net investment in leases and loans and equity balances decreased by $4.0 million, which carried through to each subsequent quarter.  The following sets forth the effect of the restatement on the applicable line items on the Company’s consolidated balance sheet for the quarters in 2012 for which interim financial statements were issued (in thousands):
		2012
		As of
		31-Mar			Adjustment			31-Mar			30-Jun			30-Sep
		(as filed)						(restated)			(restated)			(restated)
	ASSETS
	Cash	$	66		$	−		$	66		$	229		$	214
	Restricted cash		14,084			−			14,084			12,984			12,319
	Investment in leases and loans, net		158,016			(4,000	)		154,016			129,618			108,254
	Deferred financing costs, net		2,256			−			2,256			1,927			1,571
	Other assets		226			−			226			116			88
	Total assets	$	174,648		$	(4,000	)	$	170,648		$	144,874		$	122,446
	LIABILITIES AND PARTNERS’ (DEFICIT) CAPITAL
	Liabilities:
	Debt	$	129,783		$	−		$	129,783		$	108,473		$	90,405
	Subordinated notes payable		9,355			−			9,355			9,355			9,355
	Due to affiliates		522			−			522			834			1,436
	Accounts payable, accrued expenses, and other liabilities		1,199			−			1,199			1,513			1,050
	Total liabilities		140,859			−			140,859			120,175			102,246
	Commitments and contingencies
	Partners’ (Deficit) Capital:
	General partner		(766	)		(40	)		(806	)		(858	)		(900	)
	Limited partners		34,123			(3,960	)		30,163			25,172			20,772
	Total partners’ capital		33,357			(4,000	)		29,357			24,314			19,872
	Noncontrolling interest		432			−			432			385			328
	Total capital		33,789			(4,000	)		29,789			24,699			20,200
	Total liabilities and capital	$	174,648		$	(4,000	)	$	170,648		$	144,874		$	122,446
	As the aforementioned adjustment occurred in January 2012, only the statement of operations for the quarter ended March 31, 2012 was affected (i.e., the quarter-to-date amounts for the three months ended June 30, 2012 and September 30, 2012 are correct and can be relied upon as previously filed).  However, the year-to-date amounts for the six months ended June 30, 2012 and the nine months ended September 30, 2012 were affected as seen below by increasing the provision for credit losses by $4.0 million, which increased the net loss and other amounts accordingly.  The quarter-to-date and year-to-date statements of operations for the quarters in 2013 for which interim financial statements were issued were not affected by the January 2012 adjustment, and as such, can be relied upon as previously filed.  The following sets forth the effect of the restatement on the applicable line items on the Company’s year-to-date consolidated statement of operations for the quarters in 2012 for which interim financial statements were issued (in thousands, except unit and per unit data):
		2012
		Three Months									Six Months			Nine Months
		Ended									Ended			Ended
		31-Mar			Adjustment			31-Mar			30-Jun			30-Sep
		(as filed)						(restated)			(restated)			(restated)
	Revenues:
	Interest on equipment financings	$	2,610		$	−		$	2,610		$	5,070		$	7,214
	Rental income		452			−			452			806			1,081
	Gains on sales of equipment and lease dispositions, net		482			−			482			741			958
	Other income		338			−			338			574			718
			3,882			−			3,882			7,191			9,971
	Expenses:
	Interest expense		3,631			−			3,631			6,789			9,880
	Depreciation on operating leases		353			−			353			607			730
	Provision for credit losses		2,941			4,000			6,941			9,944			12,252
	General and administrative expenses		298			−			298			678			891
	Administrative expenses reimbursed to affiliate		389			−			389			720			993
			7,612			4,000			11,612			18,738			24,746
	Net loss		(3,730	)		(4,000	)		(7,730	)		(11,547	)		(14,775	)
	Add:  Net loss attributable to the noncontrolling interest		49			−			49			96			153
	Net loss attributable to LEAF 4 partners	$	(3,681	)	$	(4,000	)	$	(7,681	)	$	(11,451	)	$	(14,622	)
	Net loss allocated to LEAF 4’s limited partners	$	(3,644	)	$	(3,960	)	$	(7,604	)	$	(11,336	)	$	(14,476	)
	Weighted average number of limited partner units outstanding during the period		1,259,537			−			1,259,537			1,259,537			1,259,537
	Net loss per weighted average limited partner unit	$	(2.89	)	$	(3.15	)	$	(6.04	)	$	(9.00	)	$	(11.49	)
	As the aforementioned adjustment occurred in January 2012, only the statement of cash flows for the quarter ended March 31, 2012 was affected (i.e., the quarter-to-date amounts for the three months ended June 30, 2012 and September 30, 2012 were not affected).  However, the year-to-date amounts for the six months ended June 30, 2012 and the nine months ended September 30, 2012 were affected as seen below by increasing the net loss and the provision for credit losses by $4.0 million, which had no effect on net cash provided by operating activities in total.  As no other line items on the consolidated statements of cash flows were affected by the misstatement, they can be relied upon as previously filed.  Also, the quarter-to-date and year-to-date statements of cash flows for the quarters in 2013 for which interim financial statements were issued were not affected by the January 2012 adjustment, and as such, can be relied upon as previously filed.  The following sets forth the effect of the restatement on the applicable line items on the Company’s year-to-date consolidated statement of cash flows for the quarters in 2012 for which interim financial statements were issued (in thousands):
		2012
		Three Months									Six Months			Nine Months
		Ended									Ended			Ended
		31-Mar			Adjustment			31-Mar			30-Jun			30-Sep
		(as filed)						(restated)			(restated)			(restated)
	Cash flows from operating activities:
	Net loss	$	(3,730	)	$	(4,000	)	$	(7,730	)	$	(11,547	)	$	(14,775	)
	Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation on operating leases		353			−			353			607			730
Amortization of discount on debt		1,099			−			1,099			2,044			3,122
Amortization of deferred charges		878			−			878			1,630			2,348
Provision for credit losses		2,941			4,000			6,941			9,944			12,252
Gains on sales of equipment and lease dispositions, net		(482	)		−			(482	)		(741	)		(958	)
Changes in operating assets and liabilities:
Other assets		(9	)		−			(9	)		101			129
Due to affiliates		332			−			332			644			1,246
Accounts payable, accrued expenses, and other liabilities		56			−			56			370			(93	)
Net cash provided by operating activities	$	1,438		$	−		$	1,438		$	3,052		$	4,001
Due to the aforementioned adjustment, the $4.0 million decrease in the net investment in leases and loans and equity balances carried through to each subsequent quarter. The following sets forth the effect of the restatement on the applicable line items on the Company’s consolidated balance sheet for the quarters in 2013 for which interim financial statements were issued (in thousands):
	2013
	As of
	31-Mar			30-Jun			30-Sep
	(restated)			(restated)			(restated)
ASSETS
Cash	$	64		$	237		$	217
Restricted cash		11,268			10,058			9,699
Investment in leases and loans, net		68,763			54,847			41,236
Deferred financing costs, net		1,112			926			762
Other assets		92			92			125
Total assets	$	81,299		$	66,160		$	52,039
LIABILITIES AND PARTNERS’ (DEFICIT) CAPITAL
Liabilities:
Debt	$	58,393		$	45,547		$	35,118
Subordinated notes payable		9,355			9,295			9,295
Due to affiliates		2,376			3,829			5,021
Accounts payable, accrued expenses, and other liabilities		1,415			913			788
Total liabilities		71,539			59,584			50,222
Commitments and contingencies
Partners’ (Deficit) Capital:
General partner		(1,004	)		(1,036	)		(1,082	)
Limited partners		10,570			7,459			2,769
Total partners’ capital		9,566			6,423			1,687
Noncontrolling interest		194			153			130
Total capital		9,760			6,576			1,817
Total liabilities and capital	$	81,299		$	66,160		$	52,039

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2013
SUBSEQUENT EVENTS [Abstract]	'
SUBSEQUENT EVENTS	'
	NOTE 13 – SUBSEQUENT EVENTS
	In April 2014, the Company sold a pool of leases with a net investment of approximately $5.7 million to a third party for proceeds totaling approximately $5.9 million.  A portion of the proceeds from the sale were used to pay off in full the 2010-1 and 2010-3 Term Securitizations.  As a result of this transaction, the related unamortized original issue discount of $426,000 and unamortized deferred financing costs of $149,000 were written down.
	The Fund has evaluated its December 31, 2013 financial statements for subsequent events through the date the financial statements were issued.  The Fund is not aware of any subsequent events, other than the third party sale and related debt payoffs noted above, which would require recognition or disclosure in the financial statements.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2013
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	The consolidated financial statements include the accounts of the Fund and its wholly owned subsidiary LEAF Receivables Funding 4, LLC. The consolidated financial statements also include LEAF Funds Joint Venture 2, LLC (“LEAF Funds JV2”) and its subsidiaries LEAF Commercial Finance Fund, LLC (LCFF) and LEAF Receivables Funding 6, LLC, as well as LEAF Funding, LLC (“LEAF Funds JV1”) and its wholly owned subsidiaries LEAF Capital Funding III, LLC and LEAF Receivables Funding II, LLC. The Fund maintains a 98%, and 96% ownership interest in LEAF Funds JV2 and LEAF Funds JV1, respectively. All intercompany accounts and transactions have been eliminated in consolidation.
	The Fund reflects the participation of LEAF Equipment Leasing Income Fund III, L.P. (“LEAF III”) in the net assets and in the income or losses of LEAF Funds JV1 and LEAF Funds JV2 as noncontrolling interests in the consolidated balance sheets and statements of operations. Noncontrolling interest adjusts the Fund’s consolidated operating results to reflect only the Fund’s share of the earnings or losses of LEAF Funds JV1 and LEAF Funds JV2.
Use of Estimates	'
	Use of Estimates
	Preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the allowance for credit losses and the estimated unguaranteed residual values of leased equipment. The Fund bases its estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.
Restricted Cash	'
	Restricted Cash
	The Fund had restricted cash of approximately $8.1 million and $11.6 million as of December 31, 2013 and 2012, respectively.  Restricted cash as of December 31, 2013 included cash being held in reserve by the Fund’s lenders of approximately $8.072 million and $75,000 of customer payments deposited into a lockbox shared with the General Partner and other entities serviced by the Fund’s General Partner. The lockbox is in the name of U.S. Bank NA as trustee under an inter-creditor agreement amongst LEAF Financial, the other entities and their respective lenders. These amounts represent customer payments received by the lockbox, applied to the respective customer’s accounts, but not yet transferred to the Fund’s bank account.
Concentration of Credit Risk	'
	Concentration of Credit Risk
	As of December 31, 2013, 29% of the Fund’s leases and loans were located in New York.  No other state accounted for more than 10% of the Fund’s leases and loans as of December 31, 2013.  Also, as of December 31, 2013, 42%, 28%, and 17% of the Fund’s leases and loans were in the services, finance/insurance/real estate, and retail trade types of business, respectively.  No other type of business accounted for more than 10% of the Fund’s leases and loans as of December 31, 2013.  In addition, no individual end user accounted for more than 10% of the Fund’s leases and loans as of December 31, 2013.
Investments in Commercial Finance Assets	'
	Investments in Commercial Finance Assets
	The Fund’s investments in commercial finance assets consist of direct financing leases, operating leases, loans and future payment card receivables.
	Direct Financing Leases. Certain of the Fund’s lease transactions are accounted for as direct financing leases (as distinguished from operating leases). Such leases transfer substantially all benefits and risks of equipment ownership to the customer. The Fund’s investment in direct financing leases consists of the sum of the total future minimum lease payments receivable and the estimated unguaranteed residual value of leased equipment, less unearned finance income. Unearned finance income, which is recognized as revenue over the term of the financing by the effective interest method, represents the excess of the total future minimum contracted payments plus the estimated unguaranteed residual value expected to be realized at the end of the lease term over the cost of the related equipment.
	Unguaranteed residual value represents the estimated amount to be received at lease termination from lease extensions or ultimate disposition of the leased equipment. The estimates of residual values are based upon the General Partner’s history with regard to the realization of residuals, available industry data and the General Partner’s senior management’s experience with respect to comparable equipment. The estimated residual values are recorded as a component of investments in leases. Residual values are reviewed periodically to determine if the current estimate of the equipment’s fair market value appears to be below its recorded estimate. If required, residual values are adjusted downward to reflect adjusted estimates of fair market values. Upward adjustments to residual values are not permitted.
	Operating Leases. Leases not meeting the criteria to be classified as direct financing leases are deemed to be operating leases. Under the accounting for operating leases, the cost of the leased equipment, including acquisition fees associated with lease placements, is recorded as an asset and depreciated on a straight-line basis over the equipment’s estimated useful life, generally up to seven years. Rental income consists primarily of monthly periodic rental payments due under the terms of the leases. The Fund recognizes rental income on a straight line basis.
	Generally, during the lease terms of existing operating leases, the Fund will not recover all of the cost and related expenses of its rental equipment and, therefore, it is prepared to remarket the equipment in future years. The Fund’s policy is to review, on a quarterly basis, the expected economic life of its rental equipment in order to determine the recoverability of its undepreciated cost. The Fund writes down its rental equipment to its estimated net realizable value when it is probable that its carrying amount exceeds such value and the excess can be reasonably estimated; gains are only recognized upon actual sale of the rental equipment.
	Loans. For term loans, the investment in loans consists of the sum of the total future minimum loan payments receivable less unearned finance income. Unearned finance income, which is recognized as revenue over the term of the financing by the effective interest method, represents the excess of the total future minimum contracted loan payments over the cost of the loan. For all other loans, interest income is recorded at the stated rate on the accrual basis to the extent that such amounts are expected to be collected.
	Allowance for Credit Losses. The Fund evaluates the adequacy of the allowance for credit losses (including investments in leases and loans) based upon, among other factors, management’s historical experience on the portfolios it manages, an analysis of contractual delinquencies, economic conditions and trends and equipment finance portfolio characteristics, adjusted for expected recoveries.  In evaluating historic performance of the Fund’s leases and loans, the Fund performs a migration analysis, which estimates the likelihood that an account progresses through delinquency stages to ultimate charge-off unless individually reviewed for impairment.  In an individual review for impairment the Fund considers the loans performance, probability of repayment, and general and local economic conditions when assessing whether impairment is necessary.  Substantially all of the Fund’s leases and loans evaluated for impairment on an individual basis include an analysis of the market values of underlying collateral values, as adjusted for estimated selling and other closing costs. After an account becomes 180 or more days past due, any remaining balance is fully-reserved less an estimated recovery amount. Generally, past due accounts are referred to our internal recovery group consisting of a team of credit specialists and collectors. The group utilizes several resources in an attempt to maximize recoveries on charged-off accounts including: 1) initiating litigation against the end user customer and any personal guarantor, 2) referring the account to an outside law firm or collection agency and/or 3) repossessing and remarketing the equipment through third parties.
	The Fund’s policy is to charge off to the allowance those financings which are in default and for which it is probable management will be unable to collect all amounts contractually owed. The Fund discontinues the recognition of revenue for leases and loans for which payments are more than 90 days past due. As of December 31, 2013 and, 2012, the Fund had $9.2 million and $16.1 million, respectively, of leases and loans on non-accrual status. Payments received while leases and loans are on non-accrual status are recorded as a reduction of principal. Generally income recognition resumes when a lease or loan becomes less than 90 days delinquent, unless certain factors specific to those leases or loans continue to raise concerns as to future collectability.
Income Taxes	'
	Income Taxes
	Federal and state income tax laws provide that the income or losses of the Fund are reportable by the partners on their individual income tax returns. Accordingly, no provision for such taxes has been made in the accompanying financial statements.
Transfers of Financial Assets	'
	Transfers of Financial Assets
	In connection with establishing its debt facilities with its banks, the Fund has formed bankruptcy remote special purpose entities through which the financings are arranged. The Fund’s transfers of assets to these special purpose entities do not qualify for sales accounting treatment due to certain call provisions that the Fund maintains. Accordingly, assets and related debt of the special purpose entities are included in the Fund’s consolidated balance sheets. The Fund’s leases and restricted cash are assigned as collateral for these borrowings and there is no further recourse to the general credit of the Fund. Collateral in excess of these borrowings represents the Fund’s maximum loss exposure.
Comprehensive Income (Loss)	'
	Comprehensive Income (Loss)
	Comprehensive income (loss) includes net income (loss) and all other changes in the equity of a business during a period from transactions and other events and circumstances from non-owner sources. Comprehensive income (loss) for the Fund was equal to net income (loss) for the years ended December 31, 2013 and 2012.
Allocation of Partnership Income, Loss, Cash Distributions and Net Loss Per Limited Partner Unit	'
	Allocation of Partnership Income, Loss, Cash Distributions, and Net Loss Per Limited Partner Unit
	The Fund allocates net income, net loss, and cash distributions as follows:  99% to the limited partners and 1% to the general partner.
	Net loss per limited partner unit is computed by dividing net loss allocated to limited partners by the weighted average number of limited partner units outstanding during the period. The weighted average number of limited partner units outstanding during the period is computed based on the number of limited partner units issued during the period weighted for the days outstanding during the period.
Recent Accounting Standards	'
	Recent Accounting Standards
	Accounting Standards Recently Adopted
	In April 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-07, Presentation of Financial Statements (Topic 205): Liquidation Basis of Accounting (ASU 2013-07 or the Update). The Update provides clarification and guidance regarding:
		•	When an entity should apply the liquidation basis of accounting,
		•	The recognition and measurement of assets and liabilities, and
		•	Financial statement presentation and disclosure requirements.
	Entities with a limited life (i.e., certain partnerships) are expected to liquidate at a specified time and in an orderly manner as disclosed in their governing documents. If a limited life fund ceases its operations and liquidates its assets and liabilities in accordance with its original plan for liquidation, the entity is not required to adopt the liquidation basis of accounting in accordance with the Update.  While the Update is effective for entities with annual reporting periods beginning after December 15, 2013 (and interim periods therein), the Fund has early adopted the Update in 2013 with no impact to the financial statements.

RESTATEMENT_OF_CONSOLIDATED_FI1

RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012 (Tables)	12 Months Ended
	Dec. 31, 2013
RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012 [Abstract]	'
Error Corrections and Prior Period Adjustments	'
	The following sets forth the effect of the restatement on the applicable line items on the Company’s consolidated balance sheet for the year ended December 31, 2012 (in thousands):
		Year Ended December 31, 2012
		2012			Restatement			2012
					Adjustments
		(as filed)						(restated)
	ASSETS
	Cash	$	38		$	−		$	38
	Restricted cash		11,552			−			11,552
	Investment in leases and loans, net		89,302			(4,000	)		85,302
	Deferred financing costs, net		1,322			−			1,322
	Other assets		92			−			92
	Total assets	$	102,306		$	(4,000	)	$	98,306
	LIABILITIES AND PARTNERS’ (DEFICIT) CAPITAL
	Liabilities:
	Debt	$	72,701		$	−		$	72,701
	Subordinated notes payable		9,355			−			9,355
	Due to affiliates		2,472			−			2,472
	Accounts payable, accrued expenses, and other liabilities		1,380			−			1,380
	Total liabilities		85,908			−			85,908
	Commitments and contingencies
	Partners’ (Deficit) Capital:
	General partner		(938	)		(40	)		(978	)
	Limited partners		17,040			(3,960	)		13,080
	Total partners' (deficit) capital		16,102			(4,000	)		12,102
	Noncontrolling interest		296			−			296
	Total (deficit) capital		16,398			(4,000	)		12,398
	Total liabilities and capital	$	102,306		$	(4,000	)	$	98,306
	The following sets forth the effect of the restatement on the applicable line items in the Company’s consolidated statement of operations for the year ended December 31, 2012 (in thousands, except unit and per unit data):
		Year Ended December 31, 2012
		2012			Restatement			2012
					Adjustments
		(as filed)						(restated)
	Revenues:
	Interest on equipment financings	$	8,974		$	-		$	8,974
	Rental income		1,263			-			1,263
	Gains on sales of equipment and lease dispositions, net		1,170			-			1,170
	Other income		902			-			902
			12,309			-			12,309
	Expenses:
	Interest expense		12,304			-			12,304
	Depreciation on operating leases		812			-			812
	Provision for credit losses		14,059			4,000			18,059
	General and administrative expenses		1,222			-			1,222
	Administrative expenses reimbursed to affiliate		1,217			-			1,217
			29,614			4,000			33,614
	Net loss		(17,305	)		(4,000	)		(21,305	)
	Add:  Net loss attributable to the noncontrolling interest		185			-			185
	Net loss attributable to LEAF 4 partners	$	(17,120	)	$	(4,000	)	$	(21,120	)
	Net loss allocated to LEAF 4's limited partners	$	(16,949	)	$	(3,960	)	$	(20,909	)
	Weighted average number of limited partner units outstanding during the period		1,259,537						1,259,537
	Net loss per weighted average limited partner unit	$	(13.45	)	$	(3.15	)	$	(16.60	)
	The following sets forth the effect of the restatement on the applicable line items in the Company’s consolidated statement of cash flows for the year ended December 31, 2012 (in thousands):
		Year Ended December 31, 2012
		2012			Restatement			2012
					Adjustments
		(as filed)						(restated)
	Cash flows from operating activities:
	Net loss	$	(17,305	)	$	(4,000	)	$	(21,305	)
	Adjustments to reconcile net loss to net cash provided by operating activities:
	Depreciation on operating leases		812			-			812
	Amortization of discount on debt		3,804			-			3,804
	Amortization of deferred charges		2,943			-			2,943
	Provision for credit losses		14,059			4,000			18,059
Gain on extinguishment of subordinated note payable		-			-			-
Gains on sales of equipment and lease dispositions, net		(1,170	)		-			(1,170	)
Changes in operating assets and liabilities:
Other assets		125			-			125
Due to affiliates		2,282			-			2,282
Accounts payable, accrued expenses, and other liabilities		237			-			237
Net cash provided by operating activities	$	5,787		$	-		$	5,787

INVESTMENT_IN_LEASES_AND_LOANS1

INVESTMENT IN LEASES AND LOANS (Tables)	12 Months Ended
	Dec. 31, 2013
INVESTMENT IN LEASES AND LOANS [Abstract]	'
Net leases and loan investments	'
	The Fund’s investment in leases and loans, net, consists of the following (in thousands):
			December 31,
			2013			2012
						(restated)
	Direct financing leases (1)		$	6,908		$	25,970
	Loans (2)			33,531			67,907
	Operating leases			105			345
				40,544			94,222
	Allowance for credit losses			(8,050	)		(8,920	)
			$	32,494		$	85,302
		-1	The Fund’s direct financing leases are for initial lease terms generally ranging from 24 to 180 months.
		-2	The interest rates on loans generally range from 5% to 18%.
Components of direct financing leases and loans	'
	The components of direct financing leases and loans are as follows (in thousands):
			December 31,
			2013						2012
			Leases			Loans			Leases			Loans
												(restated)
	Total future minimum lease payments		$	5,620		$	35,227		$	24,873		$	74,448
	Unearned income			(303	)		(1,295	)		(1,280	)		(5,271	)
	Residuals, net of unearned residual income (1)			1,676			-			2,591			-
	Security deposits			(85	)		(401	)		(214	)		(1,270	)
			$	6,908		$	33,531		$	25,970		$	67,907
		-1	Unguaranteed residuals for direct financing leases represent the estimated amounts recoverable at lease termination from lease extensions or disposition of the equipment.
Net operating leases	'
	The Fund’s investment in operating leases, net, consists of the following (in thousands):
			December 31,
			2013			2012
	Equipment		$	1,487		$	2,723
	Accumulated depreciation			(1,382	)		(2,378	)
			$	105		$	345
Schedule of future minimum direct financing lease, loans and operating leases	'
	At December 31, 2013, the future payments scheduled to be received on non-cancelable commercial finance assets for each of the five succeeding annual periods ending December 31, and thereafter, are as follows (in thousands):
			Direct
			Financing						Operating
			Leases			Loans (1)			Leases (2)			Totals
	2014		$	4,183		$	11,810		$	12		$	16,005
	2015			878			6,789			–			7,667
	2016			300			4,549			–			4,849
	2017			179			2,520			–			2,699
	2018			51			943			–			994
	Thereafter			29			603			–			632
			$	5,620		$	27,214		$	12		$	32,846
		-1	Loans are presented exclusive of approximately $8.013 million related to certain loans for which the timing of collectability is unknown.
		-2	Operating lease amounts as shown are net of the residual value, if any, at the end of the lease term.

ALLOWANCE_FOR_CREDIT_LOSSES_AN1

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY (Tables)	12 Months Ended
	Dec. 31, 2013
ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY [Abstract]	'
Age analysis	'
	The following table is an age analysis of the Fund’s receivables from leases and loans, presented gross of allowance for credit losses of $8.1 million and $8.9 million as of December 31, 2013 and 2012, respectively (in thousands):
			December 31,
			2013						2012
	Age of receivable		Investment in leases and loans			%			Investment in leases and loans		%
									(restated)		(restated)
	Current (a)		$	38,339			95	%	$	90,489		96	%
	Delinquent:
	31 to 91 days past due			1,351			3	%		2,848		3	%
	Greater than 91 days (b)			854			2	%		885		1	%
			$	40,544			100	%	$	94,222		100	%
		(a)	Included in this category are approximately $8.378 million and $15.217 million as of December 31, 2013 and December 31, 2012, respectively, of certain loans which are systematically current but are on the cost recovery method due to continued uncertainty as to collectability of future payments due.  This secured loan obligation totals $1.1 million.  The obligor of this loan is another finance company that is no longer operating.  Collateral for the loan is a pool of loans to construction companies and developers.  The Fund has been in the process of monetizing the underlying collateral for the loan via sale.  The Fund has written the loan down to the net realizable value of the underlying collateral.
		(b)	All leases and loans are individually or collectively evaluated for impairment.
Credit quality indicators	'
	The Fund had $9.2 million and $16.1 million of leases and loans on non-accrual status as of December 31, 2013 and 2012, respectfully. The credit quality of the Fund’s investment in leases and loans is as follows (in thousands):
			December 31,
			2013			2012
						(restated)
	Performing		$	31,312		$	78,120
	Nonperforming			9,232			16,102
			$	40,544		$	94,222
Allowance for credit losses activity	'
	The Company’s investment in non-performing leases and loans as of December 31, 2013 and 2012 was collectively evaluated for impairment, except for certain asset backed loans that were individually evaluated for impairment (see above for more information).  The following table summarizes the annual activity in the allowance for credit losses (in thousands):
			Years Ended December 31,
			2013			2012
						(restated)
	Allowance for credit losses, beginning of year		$	8,920		$	4,410
	Provision for credit losses			5,612			18,059
	Charge-offs			(7,975	)		(14,605	)
	Recoveries			1,493			1,056
	Allowance for credit losses end of year		$	8,050		$	8,920
	Allowance for credit losses:
	Ending balance, individually evaluated for impairment		$	7,230		$	8,080
	Ending balance, collectively evaluated for impairment			820			840
	Balance, end of year		$	8,050		$	8,920
	Recorded investment  in leases and term loans:
	Ending balance, individually evaluated for impairment		$	8,378		$	15,217
	Ending balance, collectively evaluated for impairment			32,166			79,005
	Balance, end of year		$	40,544		$	94,222

DEBT_Tables

DEBT (Tables)	12 Months Ended
	Dec. 31, 2013
DEBT [Abstract]	'
Schedule of debt	'
	The Fund’s debt consists of the following, net of original issue discount of $1.4 million and $3.2 million at December 31, 2013 and 2012, respectively (in thousands):
		31-Dec-13						December 31,
								2012
				Outstanding			Interest rate per	Outstanding
		Type		Balance (1)			annum	Balance
	2011-1 Term Securitization	Term		$	13,239		1.7% to 5.5%	$	29,446
	2010-1 Term Securitization	Term			3,311		5.00%		9,330
	2010-3 Term Securitization	Term			10,766		3.5% to 5.5%		37,095
				$	27,316			$	75,871
	Less:  Unamortized Original Issue Discount				(1,446	)			(3,170	)
				$	25,870			$	72,701
		-1	These borrowings are collateralized by specific leases and loans and restricted cash. As of December 31, 2013, $30.0 million of leases and loans and $8.1 million of restricted cash were pledged as collateral under the Fund’s term securitizations. Recourse under these securitizations is limited to the amount of collateral pledged.
Debt repayments	'
	Debt Repayments: Estimated annual principal payments on the Fund’s aggregate borrowings (presented gross of original issue discount of $1.4 million at December 31, 2013) over the next five years ended December 31, and thereafter, are as follows (in thousands):
	31-Dec-14		$	11,356
	31-Dec-15			7,602
	31-Dec-15			4,168
	31-Dec-17			2,688
	31-Dec-18			960
	Thereafter			542
			$	27,316

FAIR_VALUE_MEASUREMENT_Tables

FAIR VALUE MEASUREMENT (Tables)	12 Months Ended
	Dec. 31, 2013
FAIR VALUE MEASUREMENT [Abstract]	'
Carrying value and fair value of funds	'
	The methods used to estimate the fair value on bank debt that is not measured at fair value, the level within the fair value hierarchy that those fair value measurements are categorized, and the carrying value of the Fund’s debt at December 31, 2013 is as follows (in thousands):
		Carrying Value		Fair Value Measurements Using						Liabilities At Fair Value
				Level 1		Level 2		Level 3
	Debt	$	25,870	$	−	$	24,094	$	−	$	24,094

CERTAIN_RELATIONSHIPS_AND_TRAN1

CERTAIN RELATIONSHIPS AND TRANSACTIONS WITH AFFILIATES (Tables)	12 Months Ended
	Dec. 31, 2013
CERTAIN RELATIONSHIPS AND TRANSACTIONS WITH AFFILIATES [Abstract]	'
Summary of related party fees	'
	The Fund relies on the General Partner and its affiliates to manage the Fund’s operations and pays the General Partner or its affiliates fees to manage the Fund. The following is a summary of fees and costs of services and materials charged by the General Partner or its affiliates (in thousands):
		Years Ended December 31,
		2013		2012
	Administrative expenses	$	532	$	1,217

UNAUDITED_QUARTERLY_FINANCIAL_1

UNAUDITED QUARTERLY FINANCIAL DATA AND RESTATEMENT OF INTERIM FINANCIAL STATEMENTS (Tables)	12 Months Ended
	Dec. 31, 2013
UNAUDITED QUARTERLY FINANCIAL DATA AND RESTATEMENT OF INTERIM FINANCIAL STATEMENTS [Abstract]	'
Schedule of Quarterly Financial Information	'
	As the adjustment occurred during Q1 2012, the net investment in leases and loans and equity balances decreased by $4.0 million, which carried through to each subsequent quarter.  The following sets forth the effect of the restatement on the applicable line items on the Company’s consolidated balance sheet for the quarters in 2012 for which interim financial statements were issued (in thousands):
		2012
		As of
		31-Mar			Adjustment			31-Mar			30-Jun			30-Sep
		(as filed)						(restated)			(restated)			(restated)
	ASSETS
	Cash	$	66		$	−		$	66		$	229		$	214
	Restricted cash		14,084			−			14,084			12,984			12,319
	Investment in leases and loans, net		158,016			(4,000	)		154,016			129,618			108,254
	Deferred financing costs, net		2,256			−			2,256			1,927			1,571
	Other assets		226			−			226			116			88
	Total assets	$	174,648		$	(4,000	)	$	170,648		$	144,874		$	122,446
	LIABILITIES AND PARTNERS’ (DEFICIT) CAPITAL
	Liabilities:
	Debt	$	129,783		$	−		$	129,783		$	108,473		$	90,405
	Subordinated notes payable		9,355			−			9,355			9,355			9,355
	Due to affiliates		522			−			522			834			1,436
	Accounts payable, accrued expenses, and other liabilities		1,199			−			1,199			1,513			1,050
	Total liabilities		140,859			−			140,859			120,175			102,246
	Commitments and contingencies
	Partners’ (Deficit) Capital:
	General partner		(766	)		(40	)		(806	)		(858	)		(900	)
	Limited partners		34,123			(3,960	)		30,163			25,172			20,772
	Total partners’ capital		33,357			(4,000	)		29,357			24,314			19,872
	Noncontrolling interest		432			−			432			385			328
	Total capital		33,789			(4,000	)		29,789			24,699			20,200
	Total liabilities and capital	$	174,648		$	(4,000	)	$	170,648		$	144,874		$	122,446

ORGANIZATION_AND_NATURE_OF_BUS1

ORGANIZATION AND NATURE OF BUSINESS (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013
ORGANIZATION AND NATURE OF BUSINESS [Abstract]	'
Funds raised during offering termination date	$126
Units sold during offering termination date (in units)	1
Total expected life of the fund	'9 years
Expected offering period	'2 years
Expected reinvestment period	'5 years
Expected subsequent liquidation period	'2 years
Ownership interest (in hundredths)	1.00%
General Partner's investment in limited partnership interest	1
General Partner's limited partnership interest (in hundredths)	0.85%
Acquired leases and secured loans	635.3
Amortized leases and secured loans	$32.50

RESTATEMENT_OF_CONSOLIDATED_FI2

RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012 (Details) (USD $)

3 Months Ended

6 Months Ended

9 Months Ended

12 Months Ended

Mar. 31, 2012

Jun. 30, 2012

Sep. 30, 2012

Dec. 31, 2013

Dec. 31, 2012

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2011

ASSETS

'

'

'

'

'

'

'

'

'

Cash

$66,000

[1]

$229,000

[1]

$214,000

[1]

$229,000

$38,000

$217,000

[1]

$237,000

[1]

$64,000

[1]

$405,000

[1]

Restricted cash

14,084,000

[1]

12,984,000

[1]

12,319,000

[1]

8,147,000

11,552,000

[1]

9,699,000

[1]

10,058,000

[1]

11,268,000

[1]

'

Investment in leases and loans, net

154,016,000

[1]

129,618,000

[1]

108,254,000

[1]

32,494,000

85,302,000

[1]

41,236,000

[1]

54,847,000

[1]

68,763,000

[1]

'

Deferred financing costs, net

2,256,000

[1]

1,927,000

[1]

1,571,000

[1]

625,000

1,322,000

[1]

762,000

[1]

926,000

[1]

1,112,000

[1]

'

Other assets

226,000

[1]

116,000

[1]

88,000

[1]

50,000

92,000

[1]

125,000

[1]

92,000

[1]

92,000

[1]

'

Total assets

170,648,000

[1]

144,874,000

[1]

122,446,000

[1]

41,545,000

98,306,000

[1]

52,039,000

[1]

66,160,000

[1]

81,299,000

[1]

'

Liabilities:

'

'

'

'

'

'

'

'

'

Debt

129,783,000

[1]

108,473,000

[1]

90,405,000

[1]

25,870,000

72,701,000

[1]

35,118,000

[1]

45,547,000

[1]

58,393,000

[1]

'

Subordinated notes payable

9,355,000

[1]

9,355,000

[1]

9,355,000

[1]

9,295,000

9,355,000

[1]

9,295,000

[1]

9,295,000

[1]

9,355,000

[1]

'

Due to affiliates

522,000

[1]

834,000

[1]

1,436,000

[1]

6,284,000

2,472,000

[1]

5,021,000

[1]

3,829,000

[1]

2,376,000

[1]

'

Accounts payable, accrued expenses and other liabilities

1,199,000

[1]

1,513,000

[1]

1,050,000

[1]

1,052,000

1,380,000

[1]

788,000

[1]

913,000

[1]

1,415,000

[1]

'

Total liabilities

140,859,000

[1]

120,175,000

[1]

102,246,000

[1]

42,501,000

85,908,000

[1]

50,222,000

[1]

59,584,000

[1]

71,539,000

[1]

'

Partners' (Deficit) Capital:

'

'

'

'

'

'

'

'

'

General partner

-806,000

[1]

-858,000

[1]

-900,000

[1]

-1,110,000

-978,000

[1]

-1,082,000

[1]

-1,036,000

[1]

-1,004,000

[1]

'

Limited partners

30,163,000

[1]

25,172,000

[1]

20,772,000

[1]

67,000

13,080,000

[1]

2,769,000

[1]

7,459,000

[1]

10,570,000

[1]

'

Total partners' (deficit) capital

29,357,000

[1]

24,314,000

[1]

19,872,000

[1]

-1,043,000

12,102,000

[1]

1,687,000

[1]

6,423,000

[1]

9,566,000

[1]

'

Noncontrolling interest

432,000

[1]

385,000

[1]

328,000

[1]

87,000

296,000

[1]

130,000

[1]

153,000

[1]

194,000

[1]

'

Total (deficit) capital

29,789,000

[1]

24,699,000

[1]

20,200,000

[1]

-956,000

12,398,000

[1]

1,817,000

[1]

6,576,000

[1]

9,760,000

[1]

38,792,000

[1]

Total liabilities and capital

170,648,000

[1]

144,874,000

[1]

122,446,000

[1]

41,545,000

98,306,000

[1]

52,039,000

[1]

66,160,000

[1]

81,299,000

[1]

'

Revenues:

'

'

'

'

'

'

'

'

'

Interest on equipment financings

2,610,000

[1]

5,070,000

[1]

7,214,000

[1]

4,319,000

8,974,000

[1]

'

'

'

'

Rental income

452,000

[1]

806,000

[1]

1,081,000

[1]

460,000

1,263,000

[1]

'

'

'

'

Gains on sale of equipment and lease dispositions, net

482,000

[1]

741,000

[1]

958,000

[1]

551,000

1,170,000

[1]

'

'

'

'

Other income

338,000

[1]

574,000

[1]

718,000

[1]

373,000

902,000

[1]

'

'

'

'

Revenues

3,882,000

[1]

7,191,000

[1]

9,971,000

[1]

5,703,000

12,309,000

[1]

'

'

'

'

Expenses:

'

'

'

'

'

'

'

'

'

Interest expense

3,631,000

[1]

6,789,000

[1]

9,880,000

[1]

6,688,000

12,304,000

[1]

'

'

'

'

Depreciation on operating leases

353,000

[1]

607,000

[1]

730,000

[1]

168,000

812,000

[1]

'

'

'

'

Provision for credit losses

6,941,000

[1]

9,944,000

[1]

12,252,000

[1]

5,612,000

18,059,000

[1]

'

'

'

'

General and administrative expenses

298,000

[1]

678,000

[1]

891,000

[1]

968,000

1,222,000

[1]

'

'

'

'

Administrative expenses reimbursed to affiliate

389,000

[1]

720,000

[1]

993,000

[1]

532,000

1,217,000

[1]

'

'

'

'

Expenses

11,612,000

[1]

18,738,000

[1]

24,746,000

[1]

13,968,000

33,614,000

[1]

'

'

'

'

Net loss

-7,730,000

[1]

-11,547,000

[1]

-14,775,000

[1]

-8,265,000

-21,305,000

[1]

'

'

'

'

Add: Net loss attributable to the noncontrolling interest

-49,000

[1]

-96,000

[1]

-153,000

[1]

209,000

185,000

[1]

'

'

'

'

Net loss attributable to LEAF 4 partners

-7,681,000

[1]

-11,451,000

[1]

-14,622,000

[1]

-8,056,000

-21,120,000

[1]

'

'

'

'

Net loss allocated to LEAF 4's limited partners

-7,604,000

[1]

-11,336,000

[1]

-14,476,000

[1]

-7,975,000

-20,909,000

[1]

'

'

'

'

Weighted average number of limited partner units outstanding during the period (in units)

1,259,537

[1]

1,259,537

[1]

1,259,537

[1]

1,259,537

1,259,537

[1]

'

'

'

'

Net loss per weighted average limited partner unit (in dollars per unit)

($6.04)

[1]

($9)

[1]

($11.49)

[1]

($6.33)

($16.60)

[1]

'

'

'

'

Cash flows from operating activities:

'

'

'

'

'

'

'

'

'

Net loss

-7,730,000

[1]

-11,547,000

[1]

-14,775,000

[1]

-8,265,000

-21,305,000

[1]

'

'

'

'

Adjustments to reconcile net loss to net cash provided by operating activities:

'

'

'

'

'

'

'

'

'

Depreciation on operating leases

353,000

[1]

607,000

[1]

730,000

[1]

168,000

812,000

[1]

'

'

'

'

Amortization of discount on debt

1,099,000

[1]

2,044,000

[1]

3,122,000

[1]

1,724,000

3,804,000

[1]

'

'

'

'

Amortization of deferred charges

878,000

[1]

1,630,000

[1]

2,348,000

[1]

1,745,000

2,943,000

[1]

'

'

'

'

Provision for credit losses

6,941,000

[1]

9,944,000

[1]

12,252,000

[1]

5,612,000

18,059,000

[1]

'

'

'

'

Gain on extinguishment of subordinated note payable

'

'

'

-16,000

0

[1]

'

'

'

'

Gains on sales of equipment and lease dispositions, net

-482,000

[1]

-741,000

[1]

-958,000

[1]

-551,000

-1,170,000

[1]

'

'

'

'

Changes in operating assets and liabilities:

'

'

'

'

'

'

'

'

'

Other assets

-9,000

[1]

101,000

[1]

129,000

[1]

42,000

125,000

[1]

'

'

'

'

Due to affiliates

332,000

[1]

644,000

[1]

1,246,000

[1]

3,812,000

2,282,000

[1]

'

'

'

'

Accounts payable, accrued expenses, and other liabilities

56,000

[1]

370,000

[1]

-93,000

[1]

-328,000

237,000

[1]

'

'

'

'

Net cash provided by operating activities

1,438,000

[1]

3,052,000

[1]

4,001,000

[1]

3,943,000

5,787,000

[1]

'

'

'

'

as filed [Member]

'

'

'

'

'

'

'

'

'

ASSETS

'

'

'

'

'

'

'

'

'

Cash

66,000

'

'

'

38,000

'

'

'

'

Restricted cash

14,084,000

'

'

'

11,552,000

'

'

'

'

Investment in leases and loans, net

158,016,000

'

'

'

89,302,000

'

'

'

'

Deferred financing costs, net

2,256,000

'

'

'

1,322,000

'

'

'

'

Other assets

226,000

'

'

'

92,000

'

'

'

'

Total assets

174,648,000

'

'

'

102,306,000

'

'

'

'

Liabilities:

'

'

'

'

'

'

'

'

'

Debt

129,783,000

'

'

'

72,701,000

'

'

'

'

Subordinated notes payable

9,355,000

'

'

'

9,355,000

'

'

'

'

Due to affiliates

522,000

'

'

'

2,472,000

'

'

'

'

Accounts payable, accrued expenses and other liabilities

1,199,000

'

'

'

1,380,000

'

'

'

'

Total liabilities

140,859,000

'

'

'

85,908,000

'

'

'

'

Partners' (Deficit) Capital:

'

'

'

'

'

'

'

'

'

General partner

-766,000

'

'

'

-938,000

'

'

'

'

Limited partners

34,123,000

'

'

'

17,040,000

'

'

'

'

Total partners' (deficit) capital

33,357,000

'

'

'

16,102,000

'

'

'

'

Noncontrolling interest

432,000

'

'

'

296,000

'

'

'

'

Total (deficit) capital

33,789,000

'

'

'

16,398,000

'

'

'

'

Total liabilities and capital

174,648,000

'

'

'

102,306,000

'

'

'

'

Revenues:

'

'

'

'

'

'

'

'

'

Interest on equipment financings

2,610,000

'

'

'

8,974,000

'

'

'

'

Rental income

452,000

'

'

'

1,263,000

'

'

'

'

Gains on sale of equipment and lease dispositions, net

482,000

'

'

'

1,170,000

'

'

'

'

Other income

338,000

'

'

'

902,000

'

'

'

'

Revenues

3,882,000

'

'

'

12,309,000

'

'

'

'

Expenses:

'

'

'

'

'

'

'

'

'

Interest expense

3,631,000

'

'

'

12,304,000

'

'

'

'

Depreciation on operating leases

353,000

'

'

'

812,000

'

'

'

'

Provision for credit losses

2,941,000

'

'

'

14,059,000

'

'

'

'

General and administrative expenses

298,000

'

'

'

1,222,000

'

'

'

'

Administrative expenses reimbursed to affiliate

389,000

'

'

'

1,217,000

'

'

'

'

Expenses

7,612,000

'

'

'

29,614,000

'

'

'

'

Net loss

-3,730,000

'

'

'

-17,305,000

'

'

'

'

Add: Net loss attributable to the noncontrolling interest

-49,000

'

'

'

185,000

'

'

'

'

Net loss attributable to LEAF 4 partners

-3,681,000

'

'

'

-17,120,000

'

'

'

'

Net loss allocated to LEAF 4's limited partners

-3,644,000

'

'

'

-16,949,000

'

'

'

'

Weighted average number of limited partner units outstanding during the period (in units)

1,259,537

'

'

'

1,259,537

'

'

'

'

Net loss per weighted average limited partner unit (in dollars per unit)

($2.89)

'

'

'

($13.45)

'

'

'

'

Cash flows from operating activities:

'

'

'

'

'

'

'

'

'

Net loss

-3,730,000

'

'

'

-17,305,000

'

'

'

'

Adjustments to reconcile net loss to net cash provided by operating activities:

'

'

'

'

'

'

'

'

'

Depreciation on operating leases

353,000

'

'

'

812,000

'

'

'

'

Amortization of discount on debt

1,099,000

'

'

'

3,804,000

'

'

'

'

Amortization of deferred charges

878,000

'

'

'

2,943,000

'

'

'

'

Provision for credit losses

2,941,000

'

'

'

14,059,000

'

'

'

'

Gain on extinguishment of subordinated note payable

'

'

'

'

0

'

'

'

'

Gains on sales of equipment and lease dispositions, net

-482,000

'

'

'

-1,170,000

'

'

'

'

Changes in operating assets and liabilities:

'

'

'

'

'

'

'

'

'

Other assets

-9,000

'

'

'

125,000

'

'

'

'

Due to affiliates

332,000

'

'

'

2,282,000

'

'

'

'

Accounts payable, accrued expenses, and other liabilities

56,000

'

'

'

237,000

'

'

'

'

Net cash provided by operating activities

1,438,000

'

'

'

5,787,000

'

'

'

'

Restatement adjustments [Member]

'

'

'

'

'

'

'

'

'

ASSETS

'

'

'

'

'

'

'

'

'

Cash

0

'

'

'

0

'

'

'

'

Restricted cash

0

'

'

'

0

'

'

'

'

Investment in leases and loans, net

-4,000,000

'

'

'

-4,000,000

'

'

'

'

Deferred financing costs, net

0

'

'

'

0

'

'

'

'

Other assets

0

'

'

'

0

'

'

'

'

Total assets

-4,000,000

'

'

'

-4,000,000

'

'

'

'

Liabilities:

'

'

'

'

'

'

'

'

'

Debt

0

'

'

'

0

'

'

'

'

Subordinated notes payable

0

'

'

'

0

'

'

'

'

Due to affiliates

0

'

'

'

0

'

'

'

'

Accounts payable, accrued expenses and other liabilities

0

'

'

'

0

'

'

'

'

Total liabilities

0

'

'

'

0

'

'

'

'

Partners' (Deficit) Capital:

'

'

'

'

'

'

'

'

'

General partner

-40,000

'

'

'

-40,000

'

'

'

'

Limited partners

-3,960,000

'

'

'

-3,960,000

'

'

'

'

Total partners' (deficit) capital

-4,000,000

'

'

'

-4,000,000

'

'

'

'

Noncontrolling interest

0

'

'

'

0

'

'

'

'

Total (deficit) capital

-4,000,000

'

'

'

-4,000,000

'

'

'

'

Total liabilities and capital

-4,000,000

'

'

'

-4,000,000

'

'

'

'

Revenues:

'

'

'

'

'

'

'

'

'

Interest on equipment financings

0

'

'

'

0

'

'

'

'

Rental income

0

'

'

'

0

'

'

'

'

Gains on sale of equipment and lease dispositions, net

0

'

'

'

0

'

'

'

'

Other income

0

'

'

'

0

'

'

'

'

Revenues

0

'

'

'

0

'

'

'

'

Expenses:

'

'

'

'

'

'

'

'

'

Interest expense

0

'

'

'

0

'

'

'

'

Depreciation on operating leases

0

'

'

'

0

'

'

'

'

Provision for credit losses

4,000,000

'

'

'

4,000,000

'

'

'

'

General and administrative expenses

0

'

'

'

0

'

'

'

'

Administrative expenses reimbursed to affiliate

0

'

'

'

0

'

'

'

'

Expenses

4,000,000

'

'

'

4,000,000

'

'

'

'

Net loss

-4,000,000

'

'

'

-4,000,000

'

'

'

'

Add: Net loss attributable to the noncontrolling interest

0

'

'

'

0

'

'

'

'

Net loss attributable to LEAF 4 partners

-4,000,000

'

'

'

-4,000,000

'

'

'

'

Net loss allocated to LEAF 4's limited partners

-3,960,000

'

'

'

-3,960,000

'

'

'

'

Weighted average number of limited partner units outstanding during the period (in units)

0

'

'

'

'

'

'

'

'

Net loss per weighted average limited partner unit (in dollars per unit)

($3.15)

'

'

'

($3.15)

'

'

'

'

Cash flows from operating activities:

'

'

'

'

'

'

'

'

'

Net loss

-4,000,000

'

'

'

-4,000,000

'

'

'

'

Adjustments to reconcile net loss to net cash provided by operating activities:

'

'

'

'

'

'

'

'

'

Depreciation on operating leases

0

'

'

'

0

'

'

'

'

Amortization of discount on debt

0

'

'

'

0

'

'

'

'

Amortization of deferred charges

0

'

'

'

0

'

'

'

'

Provision for credit losses

4,000,000

'

'

'

4,000,000

'

'

'

'

Gain on extinguishment of subordinated note payable

'

'

'

'

0

'

'

'

'

Gains on sales of equipment and lease dispositions, net

0

'

'

'

0

'

'

'

'

Changes in operating assets and liabilities:

'

'

'

'

'

'

'

'

'

Other assets

0

'

'

'

0

'

'

'

'

Due to affiliates

0

'

'

'

0

'

'

'

'

Accounts payable, accrued expenses, and other liabilities

0

'

'

'

0

'

'

'

'

Net cash provided by operating activities

$0

'

'

'

$0

'

'

'

'

[1]

(restated)

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)

12 Months Ended

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Schedule of Consolidated Investments [Line Items]

'

'

'

'

'

'

'

'

Restricted cash

$8,147,000

$9,699,000

[1]

$10,058,000

[1]

$11,268,000

[1]

$11,552,000

[1]

$12,319,000

[1]

$12,984,000

[1]

$14,084,000

[1]

Restricted cash reserves

8,072,000

'

'

'

'

'

'

'

Restricted customer payments deposited in lockbox

75,000

'

'

'

'

'

'

'

Concentration Risk [Line Items]

'

'

'

'

'

'

'

'

Operating lease equipment useful life

'7 years

'

'

'

'

'

'

'

Delinquency period with full allowance

'180 or more days past due

'

'

'

'

'

'

'

Period of default on monthly payment

'90 days past due

'

'

'

'

'

'

'

Leases and loans on non-accrual status

$9,200,000

'

'

'

$16,100,000

'

'

'

Limited Partners [Member]

'

'

'

'

'

'

'

'

Partner Type Of Partners Capital Account Name [Line Items]

'

'

'

'

'

'

'

'

Allocation of income loss and cash distribution to partners (in hundredths)

99.00%

'

'

'

'

'

'

'

General Partner [Member]

'

'

'

'

'

'

'

'

Partner Type Of Partners Capital Account Name [Line Items]

'

'

'

'

'

'

'

'

Allocation of income loss and cash distribution to partners (in hundredths)

1.00%

'

'

'

'

'

'

'

NLF Funding II LLC [Member]

'

'

'

'

'

'

'

'

Concentration Risk [Line Items]

'

'

'

'

'

'

'

'

Percentage of fund leases and loans (in hundredths)

28.00%

'

'

'

'

'

'

'

Services [Member]

'

'

'

'

'

'

'

'

Concentration Risk [Line Items]

'

'

'

'

'

'

'

'

Percentage of fund leases and loans (in hundredths)

42.00%

'

'

'

'

'

'

'

Retail trade [Member]

'

'

'

'

'

'

'

'

Concentration Risk [Line Items]

'

'

'

'

'

'

'

'

Percentage of fund leases and loans (in hundredths)

17.00%

'

'

'

'

'

'

'

Other Business [Member]

'

'

'

'

'

'

'

'

Concentration Risk [Line Items]

'

'

'

'

'

'

'

'

Percentage of fund leases and loans (in hundredths)

0.00%

'

'

'

'

'

'

'

Portfolio concentration risk threshold (in hundredths)

10.00%

'

'

'

'

'

'

'

Credit Concentration Risk [Member] | Other Business [Member]

'

'

'

'

'

'

'

'

Concentration Risk [Line Items]

'

'

'

'

'

'

'

'

Portfolio concentration risk threshold (in hundredths)

10.00%

'

'

'

'

'

'

'

Commercial Finance Assets [Member] | NEW YORK [Member]

'

'

'

'

'

'

'

'

Concentration Risk [Line Items]

'

'

'

'

'

'

'

'

Percentage of fund leases and loans (in hundredths)

29.00%

'

'

'

'

'

'

'

Commercial Finance Assets [Member] | Other State [Member]

'

'

'

'

'

'

'

'

Concentration Risk [Line Items]

'

'

'

'

'

'

'

'

Percentage of fund leases and loans (in hundredths)

0.00%

'

'

'

'

'

'

'

Commercial Finance Assets [Member] | Other Business [Member]

'

'

'

'

'

'

'

'

Concentration Risk [Line Items]

'

'

'

'

'

'

'

'

Portfolio concentration risk threshold (in hundredths)

10.00%

'

'

'

'

'

'

'

LEAF Funds JV2 [Member]

'

'

'

'

'

'

'

'

Schedule of Consolidated Investments [Line Items]

'

'

'

'

'

'

'

'

Ownership interest (in hundredths)

98.00%

'

'

'

'

'

'

'

LEAF Funds JV1 [Member]

'

'

'

'

'

'

'

'

Schedule of Consolidated Investments [Line Items]

'

'

'

'

'

'

'

'

Ownership interest (in hundredths)

96.00%

'

'

'

'

'

'

'

[1]

(restated)

INVESTMENT_IN_LEASES_AND_LOANS2

INVESTMENT IN LEASES AND LOANS (Details) (USD $)

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

In Thousands, unless otherwise specified

Direct Financing Leases [Member]

Direct Financing Leases [Member]

Direct Financing Leases [Member]

Direct Financing Leases [Member]

Loans [Member]

Loans [Member]

Loans [Member]

Loans [Member]

Operating Leases [Member]

Operating Leases [Member]

Minimum [Member]

Maximum [Member]

Minimum [Member]

Maximum [Member]

Investment in Leases and Loans [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

Investment in leases and loans, gross

$40,544

$94,222

[1]

$6,908

[2]

$25,970

[1],[2]

'

'

$33,531

[3]

$67,907

[1],[3]

'

'

$105

$345

[1]

Allowance for credit losses

-8,050

-8,920

[1]

'

'

'

'

'

'

'

'

'

'

Investment in leases and loans, net

32,494

85,302

[1]

'

'

'

'

'

'

'

'

'

'

Direct financing initial lease term

'

'

'

'

'24 months

'180 months

'

'

'

'

'

'

Loan interest rate (in hundredths)

'

'

'

'

'

'

'

'

5.00%

18.00%

'

'

Total future minimum lease payments

'

'

5,620

24,873

'

'

35,227

74,448

[1]

'

'

'

'

Total future minimum lease payments

32,846

'

5,620

'

'

'

27,214

[4]

'

'

'

12

[5]

'

Unearned income

'

'

-303

-1,280

'

'

-1,295

-5,271

[1]

'

'

'

'

Residuals, net of unearned residual income

'

'

1,676

[6]

2,591

[6]

'

'

0

[6]

0

[1],[6]

'

'

'

'

Security deposits

'

'

-85

-214

'

'

-401

-1,270

[1]

'

'

'

'

Investment in operating leases, net [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

Equipment

'

'

'

'

'

'

'

'

'

'

1,487

2,723

Accumulated depreciation

'

'

'

'

'

'

'

'

'

'

-1,382

-2,378

Future payments scheduled to be received on non-cancelable commercial finance assets [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

2014

16,005

'

4,183

'

'

'

11,810

[4]

'

'

'

12

[5]

'

2015

7,667

'

878

'

'

'

6,789

[4]

'

'

'

0

[5]

'

2016

4,849

'

300

'

'

'

4,549

[4]

'

'

'

0

[5]

'

2017

2,699

'

179

'

'

'

2,520

[4]

'

'

'

0

[5]

'

2018

994

'

51

'

'

'

943

[4]

'

'

'

0

[5]

'

Thereafter

632

'

29

'

'

'

603

[4]

'

'

'

0

[5]

'

Contractually current but is recorded using cost recovery method

$8,013

'

'

'

'

'

'

'

'

'

'

'

[1]

(restated)

[2]

The Fund's direct financing leases are for initial lease terms generally ranging from 24 to 180 months.

[3]

The interest rates on loans generally range from 5% to 18%.

[4]

Loans are presented exclusive of approximately $8.013 million related to certain loans for which the timing of collectability is unknown.

[5]

Operating lease amounts as shown are net of the residual value, if any, at the end of the lease term.

[6]

Unguaranteed residuals for direct financing leases represent the estimated amounts recoverable at lease termination from lease extensions or disposition of the equipment.

ALLOWANCE_FOR_CREDIT_LOSSES_AN2

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY (Details) (USD $)	12 Months Ended
	Dec. 31, 2013		Dec. 31, 2012
Aging of investment in leases and loans [Abstract]	'		'
Current	$38,339,000	[1]	$90,489,000	[1],[2]
Current, percentage of all aged receivables (in hundredths)	95.00%	[1]	96.00%	[1],[2]
Delinquent [Abstract]	'		'
31 to 91 days past due	1,351,000		2,848,000	[2]
31 to 91 days past due, percentage of all aged receivables (in hundredths)	3.00%		3.00%	[2]
Greater than 91 Days Past due	854,000	[3]	885,000	[2],[3]
Greater than 91 days, percentage of all aged receivables (in hundredths)	2.00%	[3]	1.00%	[2],[3]
Total aged investment in leases and loans	40,544,000		94,222,000	[2]
Percentage of all aged receivables (in hundredths)	100.00%		100.00%	[2]
Contractually current but is recorded using cost recovery method	8,378,000		15,217,000
Secured loan obligation	1,100,000		'
Investment in leases and loans [Line Items]	'		'
Leases and loans on non-accrual status	9,200,000		16,100,000
Investment in leases and loans	40,544,000		94,222,000	[2]
Allowance for credit losses activity [Abstract]	'		'
Allowance for credit losses, beginning of year	8,920,000	[2]	4,410,000	[2]
Provisions for credit losses	5,612,000		18,059,000	[2]
Charge-offs	-7,975,000		-14,605,000	[2]
Recoveries	1,493,000		1,056,000	[2]
Allowance for credit losses end of year	8,050,000		8,920,000	[2]
Allowance for credit loss [Abstract]	'		'
Ending balance, individually evaluated for impairment	7,230,000		8,080,000	[2]
Ending balance, collectively evaluated for impairment	820,000		840,000	[2]
Balance, end of period	8,050,000		8,920,000	[2]
Recorded investment in leases and term loans [Abstract]	'		'
Ending balance individually evaluated for impairment	8,378,000		15,217,000	[2]
Ending balance collectively evaluated for impairment	32,166,000		79,005,000	[2]
Performing [Member]	'		'
Investment in leases and loans [Line Items]	'		'
Investment in leases and loans	31,312,000		78,120,000	[2]
Nonperforming [Member]	'		'
Investment in leases and loans [Line Items]	'		'
Investment in leases and loans	$9,232,000		$16,102,000	[2]
[1]	Included in this category are approximately $8.378 million and $15.217 million as of December 31, 2013 and December 31, 2012, respectively, of certain loans which are systematically current but are on the cost recovery method due to continued uncertainty as to collectability of future payments due. This secured loan obligation totals $1.1 million. The obligor of this loan is another finance company that is no longer operating. Collateral for the loan is a pool of loans to construction companies and developers. The Fund has been in the process of monetizing the underlying collateral for the loan via sale. The Fund has written the loan down to the net realizable value of the underlying collateral.
[2]	(restated)
[3]	All leases and loans are individually or collectively evaluated for impairment.

DEFERRED_FINANCING_COSTS_Detai

DEFERRED FINANCING COSTS (Details) (USD $)

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

DEFERRED FINANCING COSTS [Abstract]

'

'

'

'

'

'

'

'

Deferred financing costs

$625,000

$762,000

[1]

$926,000

[1]

$1,112,000

[1]

$1,322,000

[1]

$1,571,000

[1]

$1,927,000

[1]

$2,256,000

[1]

Accumulated amortization

$5,200,000

'

'

'

$4,500,000

'

'

'

[1]

(restated)

DEBT_Details

DEBT (Details) (USD $)

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Term Securitization 2011-1 [Member]

Term Securitization 2011-1 [Member]

Term Securitization 2010-1 [Member]

Term Securitization 2010-1 [Member]

Term Securitization 2010-3 [Member]

Term Securitization 2010-3 [Member]

Class

Class

Class

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long-term debt, gross

$27,316,000

[1]

'

'

'

$75,871,000

'

'

'

$13,239,000

[1]

$29,446,000

$3,311,000

[1]

$9,330,000

$10,766,000

[1]

$37,095,000

Less: Unamortized Original Issue Discount

-1,446,000

[1]

'

'

'

-3,170,000

'

'

'

-6,200,000

'

-6,500,000

'

-3,700,000

'

Long-term debt, net

25,870,000

35,118,000

[2]

45,547,000

[2]

58,393,000

[2]

72,701,000

[2]

90,405,000

[2]

108,473,000

[2]

129,783,000

[2]

'

'

'

'

'

'

Interest rate, minimum (in hundredths)

'

'

'

'

'

'

'

'

1.70%

'

'

'

3.50%

'

Interest rate, maximum (in hundredths)

'

'

'

'

'

'

'

'

5.50%

'

'

'

5.50%

'

Interest rate (in hundredths)

'

'

'

'

'

'

'

'

'

'

5.00%

'

'

'

Leases and loan pledged as collateral

30,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Restricted cash pledged as collateral

8,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Net unamortized original issue discount

1,446,000

[1]

'

'

'

3,170,000

'

'

'

6,200,000

'

6,500,000

'

3,700,000

'

Number of classes of asset-backed notes

'

'

'

'

'

'

'

'

6

'

3

'

5

'

Number of classes of asset-backed notes, lower range

'

'

'

'

'

'

'

'

'

'

1

'

1

'

Number of classes of asset-backed notes, upper range

'

'

'

'

'

'

'

'

'

'

2

'

4

'

Maturity date, lower range

'

'

'

'

'

'

'

'

31-Dec-18

'

31-Oct-16

'

30-Jun-16

'

Maturity date, upper range

'

'

'

'

'

'

'

'

31-Dec-23

'

30-Sep-18

'

28-Feb-22

'

Asset-backed notes face amount

'

'

'

'

'

'

'

'

96,000,000

'

92,700,000

'

171,400,000

'

Debt repayments over the next five annual periods [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

31-Dec-14

11,356,000

'

'

'

'

'

'

'

'

'

'

'

'

'

31-Dec-15

7,602,000

'

'

'

'

'

'

'

'

'

'

'

'

'

31-Dec-16

4,168,000

'

'

'

'

'

'

'

'

'

'

'

'

'

31-Dec-17

2,688,000

'

'

'

'

'

'

'

'

'

'

'

'

'

31-Dec-18

960,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Thereafter

542,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Total

$27,316,000

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

These borrowings are collateralized by specific leases and loans and restricted cash. As of December 31, 2013, $30.0 million of leases and loans and $8.1 million of restricted cash were pledged as collateral under the Fundbs term securitizations. Recourse under these securitizations is limited to the amount of collateral pledged.

[2]

(restated)

SUBORDINATED_NOTES_PAYABLE_Det

SUBORDINATED NOTES PAYABLE (Details) (USD $)

12 Months Ended

3 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Jun. 30, 2013

LEAF Commercial Finance Fund, LLC [Member]

Note holder redemption [Member]

Entity Information [Line Items]

'

'

'

'

'

'

'

'

'

'

Subordinated notes payable

$9,295,000

$9,355,000

[1]

$9,295,000

[1]

$9,295,000

[1]

$9,355,000

[1]

$9,355,000

[1]

$9,355,000

[1]

$9,355,000

[1]

'

($60,000,000)

Interest rate (in hundredths)

8.25%

'

'

'

'

'

'

'

'

'

Gain on extinguishment of subordinated note payable

16,000

0

[1]

'

'

'

'

'

'

'

15,500

Maturity period of secured promissory notes

'6 years

'

'

'

'

'

'

'

'

'

Redemption of subordinated note payable

-44,000

0

[1]

'

'

'

'

'

'

'

44,500

Commercial finance assets

32,494,000

85,302,000

[1]

41,236,000

[1]

54,847,000

[1]

68,763,000

[1]

108,254,000

[1]

129,618,000

[1]

154,016,000

[1]

17,700,000

'

Pledged as collateral on the 2011-1 Term Securitization

$13,600,000

'

'

'

'

'

'

'

'

'

[1]

(restated)

FAIR_VALUE_MEASUREMENT_Details

FAIR VALUE MEASUREMENT (Details) (USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified
Carrying Value [Member]	'
Fair value of financial instruments for which it is practicable to estimate that value [Abstract]	'
Debt	$25,870
Level 1 [Member]	'
Fair value of financial instruments for which it is practicable to estimate that value [Abstract]	'
Debt	0
Level 2 [Member]	'
Fair value of financial instruments for which it is practicable to estimate that value [Abstract]	'
Debt	24,094
Level 3 [Member]	'
Fair value of financial instruments for which it is practicable to estimate that value [Abstract]	'
Debt	0
Fair Value [Member]	'
Fair value of financial instruments for which it is practicable to estimate that value [Abstract]	'
Debt	$24,094

CERTAIN_RELATIONSHIPS_AND_TRAN2

CERTAIN RELATIONSHIPS AND TRANSACTIONS WITH AFFILIATES (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
CERTAIN RELATIONSHIPS AND TRANSACTIONS WITH AFFILIATES [Abstract]	'	'
Administrative expenses	$532,000	$1,217,000
Management fee description	'The General Partner was paid a subordinated annual asset management fee equal to 4% of gross rental payments for operating leases or 2% for full payout leases or a competitive fee, whichever was less. However, the General Partner waived approximately $1.0 million and $1.8 million of management fees for the years ended December 31, 2013 and 2012, respectively, and $7.4 million have been waived on a cumulative basis. The General Partner has waived all future management fees.	'
Management fee rate based on gross rental payments (in hundredths)	4.00%	'
Management fee rate based on full payout leases (in hundredths)	2.00%	'
General partner management fee waived	1,000,000	1,800,000
Ownership interest (in hundredths)	1.00%	'
Percentage of cumulative annual return on the limited partners capital contributions (in hundredths)	0.85%	'
General partners cumulative cash distributions	51,000	51,000
Limited partners cumulative cash distributions	43,000	43,000
Management fees waived	$7,400,000	'

UNAUDITED_QUARTERLY_FINANCIAL_2

UNAUDITED QUARTERLY FINANCIAL DATA AND RESTATEMENT OF INTERIM FINANCIAL STATEMENTS (Details) (USD $)

3 Months Ended

6 Months Ended

9 Months Ended

12 Months Ended

In Thousands, except Share data, unless otherwise specified

Mar. 31, 2012

Jun. 30, 2012

Sep. 30, 2012

Dec. 31, 2013

Dec. 31, 2012

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2011

ASSETS

'

'

'

'

'

'

'

'

'

Cash

$66

[1]

$229

[1]

$214

[1]

$229

$38

$217

[1]

$237

[1]

$64

[1]

$405

[1]

Restricted cash

14,084

[1]

12,984

[1]

12,319

[1]

8,147

11,552

[1]

9,699

[1]

10,058

[1]

11,268

[1]

'

Investment in leases and loans, net

154,016

[1]

129,618

[1]

108,254

[1]

32,494

85,302

[1]

41,236

[1]

54,847

[1]

68,763

[1]

'

Deferred financing costs, net

2,256

[1]

1,927

[1]

1,571

[1]

625

1,322

[1]

762

[1]

926

[1]

1,112

[1]

'

Other assets

226

[1]

116

[1]

88

[1]

50

92

[1]

125

[1]

92

[1]

92

[1]

'

Total assets

170,648

[1]

144,874

[1]

122,446

[1]

41,545

98,306

[1]

52,039

[1]

66,160

[1]

81,299

[1]

'

Liabilities:

'

'

'

'

'

'

'

'

'

Debt

129,783

[1]

108,473

[1]

90,405

[1]

25,870

72,701

[1]

35,118

[1]

45,547

[1]

58,393

[1]

'

Subordinated notes payable

9,355

[1]

9,355

[1]

9,355

[1]

9,295

9,355

[1]

9,295

[1]

9,295

[1]

9,355

[1]

'

Due to affiliates

522

[1]

834

[1]

1,436

[1]

6,284

2,472

[1]

5,021

[1]

3,829

[1]

2,376

[1]

'

Accounts payable, accrued expenses and other liabilities

1,199

[1]

1,513

[1]

1,050

[1]

1,052

1,380

[1]

788

[1]

913

[1]

1,415

[1]

'

Total liabilities

140,859

[1]

120,175

[1]

102,246

[1]

42,501

85,908

[1]

50,222

[1]

59,584

[1]

71,539

[1]

'

Partners' (Deficit) Capital:

'

'

'

'

'

'

'

'

'

General partner

-806

[1]

-858

[1]

-900

[1]

-1,110

-978

[1]

-1,082

[1]

-1,036

[1]

-1,004

[1]

'

Limited partners

30,163

[1]

25,172

[1]

20,772

[1]

67

13,080

[1]

2,769

[1]

7,459

[1]

10,570

[1]

'

Total partners' (deficit) capital

29,357

[1]

24,314

[1]

19,872

[1]

-1,043

12,102

[1]

1,687

[1]

6,423

[1]

9,566

[1]

'

Noncontrolling interest

432

[1]

385

[1]

328

[1]

87

296

[1]

130

[1]

153

[1]

194

[1]

'

Total (deficit) capital

29,789

[1]

24,699

[1]

20,200

[1]

-956

12,398

[1]

1,817

[1]

6,576

[1]

9,760

[1]

38,792

[1]

Total liabilities and capital

170,648

[1]

144,874

[1]

122,446

[1]

41,545

98,306

[1]

52,039

[1]

66,160

[1]

81,299

[1]

'

Revenues:

'

'

'

'

'

'

'

'

'

Interest on equipment financings

2,610

[1]

5,070

[1]

7,214

[1]

4,319

8,974

[1]

'

'

'

'

Rental income

452

[1]

806

[1]

1,081

[1]

460

1,263

[1]

'

'

'

'

Gains on sale of equipment and lease dispositions, net

482

[1]

741

[1]

958

[1]

551

1,170

[1]

'

'

'

'

Other income

338

[1]

574

[1]

718

[1]

373

902

[1]

'

'

'

'

Revenues

3,882

[1]

7,191

[1]

9,971

[1]

5,703

12,309

[1]

'

'

'

'

Expenses:

'

'

'

'

'

'

'

'

'

Interest expense

3,631

[1]

6,789

[1]

9,880

[1]

6,688

12,304

[1]

'

'

'

'

Depreciation on operating leases

353

[1]

607

[1]

730

[1]

168

812

[1]

'

'

'

'

Provision for credit losses

6,941

[1]

9,944

[1]

12,252

[1]

5,612

18,059

[1]

'

'

'

'

General and administrative expenses

298

[1]

678

[1]

891

[1]

968

1,222

[1]

'

'

'

'

Administrative expenses reimbursed to affiliate

389

[1]

720

[1]

993

[1]

532

1,217

[1]

'

'

'

'

Expenses

11,612

[1]

18,738

[1]

24,746

[1]

13,968

33,614

[1]

'

'

'

'

Net loss

-7,730

[1]

-11,547

[1]

-14,775

[1]

-8,265

-21,305

[1]

'

'

'

'

Add: Net loss (income) attributable to the noncontrolling interest

49

[1]

96

[1]

153

[1]

-209

-185

[1]

'

'

'

'

Net loss attributable to LEAF 4 partners

-7,681

[1]

-11,451

[1]

-14,622

[1]

-8,056

-21,120

[1]

'

'

'

'

Net loss allocated to LEAF 4's limited partners

-7,604

[1]

-11,336

[1]

-14,476

[1]

-7,975

-20,909

[1]

'

'

'

'

Weighted average number of limited partner units outstanding during the period (in shares)

1,259,537

[1]

1,259,537

[1]

1,259,537

[1]

1,259,537

1,259,537

[1]

'

'

'

'

Net loss per weighted average limited partner unit (in dollars per share)

($6.04)

[1]

($9)

[1]

($11.49)

[1]

($6.33)

($16.60)

[1]

'

'

'

'

Cash flows from operating activities:

'

'

'

'

'

'

'

'

'

Net loss

-7,730

[1]

-11,547

[1]

-14,775

[1]

-8,265

-21,305

[1]

'

'

'

'

Adjustments to reconcile net loss to net cash provided by operating activities:

'

'

'

'

'

'

'

'

'

Depreciation on operating leases

353

[1]

607

[1]

730

[1]

168

812

[1]

'

'

'

'

Amortization of discount on debt

1,099

[1]

2,044

[1]

3,122

[1]

1,724

3,804

[1]

'

'

'

'

Amortization of deferred charges

878

[1]

1,630

[1]

2,348

[1]

1,745

2,943

[1]

'

'

'

'

Provision for credit losses

6,941

[1]

9,944

[1]

12,252

[1]

5,612

18,059

[1]

'

'

'

'

Gains on sale of equipment and lease dispositions, net

-482

[1]

-741

[1]

-958

[1]

-551

-1,170

[1]

'

'

'

'

Changes in operating assets and liabilities:

'

'

'

'

'

'

'

'

'

Other assets

-9

[1]

101

[1]

129

[1]

42

125

[1]

'

'

'

'

Due to affiliates

332

[1]

644

[1]

1,246

[1]

3,812

2,282

[1]

'

'

'

'

Accounts payable, accrued expenses, and other liabilities

56

[1]

370

[1]

-93

[1]

-328

237

[1]

'

'

'

'

Net cash provided by operating activities

1,438

[1]

3,052

[1]

4,001

[1]

3,943

5,787

[1]

'

'

'

'

as filed [Member]

'

'

'

'

'

'

'

'

'

ASSETS

'

'

'

'

'

'

'

'

'

Cash

66

'

'

'

38

'

'

'

'

Restricted cash

14,084

'

'

'

11,552

'

'

'

'

Investment in leases and loans, net

158,016

'

'

'

89,302

'

'

'

'

Deferred financing costs, net

2,256

'

'

'

1,322

'

'

'

'

Other assets

226

'

'

'

92

'

'

'

'

Total assets

174,648

'

'

'

102,306

'

'

'

'

Liabilities:

'

'

'

'

'

'

'

'

'

Debt

129,783

'

'

'

72,701

'

'

'

'

Subordinated notes payable

9,355

'

'

'

9,355

'

'

'

'

Due to affiliates

522

'

'

'

2,472

'

'

'

'

Accounts payable, accrued expenses and other liabilities

1,199

'

'

'

1,380

'

'

'

'

Total liabilities

140,859

'

'

'

85,908

'

'

'

'

Partners' (Deficit) Capital:

'

'

'

'

'

'

'

'

'

General partner

-766

'

'

'

-938

'

'

'

'

Limited partners

34,123

'

'

'

17,040

'

'

'

'

Total partners' (deficit) capital

33,357

'

'

'

16,102

'

'

'

'

Noncontrolling interest

432

'

'

'

296

'

'

'

'

Total (deficit) capital

33,789

'

'

'

16,398

'

'

'

'

Total liabilities and capital

174,648

'

'

'

102,306

'

'

'

'

Revenues:

'

'

'

'

'

'

'

'

'

Interest on equipment financings

2,610

'

'

'

8,974

'

'

'

'

Rental income

452

'

'

'

1,263

'

'

'

'

Gains on sale of equipment and lease dispositions, net

482

'

'

'

1,170

'

'

'

'

Other income

338

'

'

'

902

'

'

'

'

Revenues

3,882

'

'

'

12,309

'

'

'

'

Expenses:

'

'

'

'

'

'

'

'

'

Interest expense

3,631

'

'

'

12,304

'

'

'

'

Depreciation on operating leases

353

'

'

'

812

'

'

'

'

Provision for credit losses

2,941

'

'

'

14,059

'

'

'

'

General and administrative expenses

298

'

'

'

1,222

'

'

'

'

Administrative expenses reimbursed to affiliate

389

'

'

'

1,217

'

'

'

'

Expenses

7,612

'

'

'

29,614

'

'

'

'

Net loss

-3,730

'

'

'

-17,305

'

'

'

'

Add: Net loss (income) attributable to the noncontrolling interest

49

'

'

'

-185

'

'

'

'

Net loss attributable to LEAF 4 partners

-3,681

'

'

'

-17,120

'

'

'

'

Net loss allocated to LEAF 4's limited partners

-3,644

'

'

'

-16,949

'

'

'

'

Weighted average number of limited partner units outstanding during the period (in shares)

1,259,537

'

'

'

1,259,537

'

'

'

'

Net loss per weighted average limited partner unit (in dollars per share)

($2.89)

'

'

'

($13.45)

'

'

'

'

Cash flows from operating activities:

'

'

'

'

'

'

'

'

'

Net loss

-3,730

'

'

'

-17,305

'

'

'

'

Adjustments to reconcile net loss to net cash provided by operating activities:

'

'

'

'

'

'

'

'

'

Depreciation on operating leases

353

'

'

'

812

'

'

'

'

Amortization of discount on debt

1,099

'

'

'

3,804

'

'

'

'

Amortization of deferred charges

878

'

'

'

2,943

'

'

'

'

Provision for credit losses

2,941

'

'

'

14,059

'

'

'

'

Gains on sale of equipment and lease dispositions, net

-482

'

'

'

-1,170

'

'

'

'

Changes in operating assets and liabilities:

'

'

'

'

'

'

'

'

'

Other assets

-9

'

'

'

125

'

'

'

'

Due to affiliates

332

'

'

'

2,282

'

'

'

'

Accounts payable, accrued expenses, and other liabilities

56

'

'

'

237

'

'

'

'

Net cash provided by operating activities

1,438

'

'

'

5,787

'

'

'

'

Adjustment [Member]

'

'

'

'

'

'

'

'

'

ASSETS

'

'

'

'

'

'

'

'

'

Cash

0

'

'

'

0

'

'

'

'

Restricted cash

0

'

'

'

0

'

'

'

'

Investment in leases and loans, net

-4,000

'

'

'

-4,000

'

'

'

'

Deferred financing costs, net

0

'

'

'

0

'

'

'

'

Other assets

0

'

'

'

0

'

'

'

'

Total assets

-4,000

'

'

'

-4,000

'

'

'

'

Liabilities:

'

'

'

'

'

'

'

'

'

Debt

0

'

'

'

0

'

'

'

'

Subordinated notes payable

0

'

'

'

0

'

'

'

'

Due to affiliates

0

'

'

'

0

'

'

'

'

Accounts payable, accrued expenses and other liabilities

0

'

'

'

0

'

'

'

'

Total liabilities

0

'

'

'

0

'

'

'

'

Partners' (Deficit) Capital:

'

'

'

'

'

'

'

'

'

General partner

-40

'

'

'

-40

'

'

'

'

Limited partners

-3,960

'

'

'

-3,960

'

'

'

'

Total partners' (deficit) capital

-4,000

'

'

'

-4,000

'

'

'

'

Noncontrolling interest

0

'

'

'

0

'

'

'

'

Total (deficit) capital

-4,000

'

'

'

-4,000

'

'

'

'

Total liabilities and capital

-4,000

'

'

'

-4,000

'

'

'

'

Revenues:

'

'

'

'

'

'

'

'

'

Interest on equipment financings

0

'

'

'

0

'

'

'

'

Rental income

0

'

'

'

0

'

'

'

'

Gains on sale of equipment and lease dispositions, net

0

'

'

'

0

'

'

'

'

Other income

0

'

'

'

0

'

'

'

'

Revenues

0

'

'

'

0

'

'

'

'

Expenses:

'

'

'

'

'

'

'

'

'

Interest expense

0

'

'

'

0

'

'

'

'

Depreciation on operating leases

0

'

'

'

0

'

'

'

'

Provision for credit losses

4,000

'

'

'

4,000

'

'

'

'

General and administrative expenses

0

'

'

'

0

'

'

'

'

Administrative expenses reimbursed to affiliate

0

'

'

'

0

'

'

'

'

Expenses

4,000

'

'

'

4,000

'

'

'

'

Net loss

-4,000

'

'

'

-4,000

'

'

'

'

Add: Net loss (income) attributable to the noncontrolling interest

0

'

'

'

0

'

'

'

'

Net loss attributable to LEAF 4 partners

-4,000

'

'

'

-4,000

'

'

'

'

Net loss allocated to LEAF 4's limited partners

-3,960

'

'

'

-3,960

'

'

'

'

Weighted average number of limited partner units outstanding during the period (in shares)

0

'

'

'

'

'

'

'

'

Net loss per weighted average limited partner unit (in dollars per share)

($3.15)

'

'

'

($3.15)

'

'

'

'

Cash flows from operating activities:

'

'

'

'

'

'

'

'

'

Net loss

-4,000

'

'

'

-4,000

'

'

'

'

Adjustments to reconcile net loss to net cash provided by operating activities:

'

'

'

'

'

'

'

'

'

Depreciation on operating leases

0

'

'

'

0

'

'

'

'

Amortization of discount on debt

0

'

'

'

0

'

'

'

'

Amortization of deferred charges

0

'

'

'

0

'

'

'

'

Provision for credit losses

4,000

'

'

'

4,000

'

'

'

'

Gains on sale of equipment and lease dispositions, net

0

'

'

'

0

'

'

'

'

Changes in operating assets and liabilities:

'

'

'

'

'

'

'

'

'

Other assets

0

'

'

'

0

'

'

'

'

Due to affiliates

0

'

'

'

0

'

'

'

'

Accounts payable, accrued expenses, and other liabilities

0

'

'

'

0

'

'

'

'

Net cash provided by operating activities

$0

'

'

'

$0

'

'

'

'

[1]

(restated)

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Apr. 30, 2014

Subsequent Event [Member]

Subsequent Event [Line Items]

'

'

'

'

'

'

'

'

'

Net investment of leases sold

$32,494,000

$41,236,000

[1]

$54,847,000

[1]

$68,763,000

[1]

$85,302,000

[1]

$108,254,000

[1]

$129,618,000

[1]

$154,016,000

[1]

$5,700,000

Proceeds from the sale

'

'

'

'

'

'

'

'

5,900,000

Unamortized issue discount

1,446,000

[2]

'

'

'

3,170,000

'

'

'

-426,000

Write down of deferred financing cost

'

'

'

'

'

'

'

'

($149,000)

[1]

(restated)

[2]

These borrowings are collateralized by specific leases and loans and restricted cash. As of December 31, 2013, $30.0 million of leases and loans and $8.1 million of restricted cash were pledged as collateral under the Fundbs term securitizations. Recourse under these securitizations is limited to the amount of collateral pledged.