Icon Eci Fund Fifteen 10-Q 11 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 09, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	ICON ECI Fund Fifteen, L.P.
Entity Central Index Key	1,502,519
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		197,385
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($)		Mar. 31, 2016	Dec. 31, 2015
Assets
Cash		$ 8,605,399	$ 18,067,904
Net investment in notes receivable	[1]	29,459,774	30,013,756
Leased equipment at cost (less accumulated depreciation of $48,829,903 and $40,253,258, respectively)		237,300,291	183,584,053
Net investment in finance leases		58,577,283	59,683,406
Investment in joint ventures		11,268,274	13,209,019
Other assets		5,117,434	7,332,096
Total assets		350,328,455	311,890,234
Liabilities:
Non-recourse long-term debt, net		184,427,451	148,023,063
Derivative financial instruments		211,020	0
Due to General Partner and affiliates, net		2,982,580	5,682,643
Seller's credit		20,569,426	13,437,087
Accrued expenses and other liabilities		2,102,404	3,047,361
Total liabilities		$ 210,292,881	$ 170,190,154
Commitments and contingencies (Note 12)
Partners' equity:
Limited partners		$ 121,739,905	$ 123,445,636
General Partner		(537,481)	(520,252)
Total partners' equity		121,202,424	122,925,384
Noncontrolling interests		18,833,150	18,774,696
Total equity		140,035,574	141,700,080
Total liabilities and equity		$ 350,328,455	$ 311,890,234
[1]	(3) As of March 31, 2016 and December 31, 2015, net investment in note receivable related to our impaired loan was $0.

Consolidated Balance Sheets (u3

Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Assets
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment	$ 48,829,903	$ 40,253,258

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue:
Finance income	$ 2,275,931	$ 3,266,323
Rental income	12,229,504	10,801,214
Income from investment in joint ventures	664,898	656,006
Other loss	(107,818)	(281,375)
Total revenue	15,062,515	14,442,168
Expenses:
Management fees	285,922	398,164
Administrative expense reimbursements	330,562	402,887
General and administrative	427,574	542,928
Interest	2,483,322	1,728,112
Depreciation	8,576,645	8,078,356
Loss on derivative financial instruments	282,894	0
Impairment loss	0	1,180,260
Credit loss	0	362,666
Total expenses	12,386,919	12,693,373
Net income	2,675,596	1,748,795
Less: net income (loss) attributable to noncontrolling interests	429,032	(113,426)
Net income attributable to Fund Fifteen	2,246,564	1,862,221
Net income attributable to Fund Fifteen allocable to:
Limited partners	2,224,098	1,843,599
General Partner	22,466	18,622
Net income attributable to Fund Fifteen	$ 2,246,564	$ 1,862,221
Weighted average number of limited partnership interests outstanding	197,385	197,385
Net income attributable to Fund Fifteen per weighted average limited partnership interest outstanding	$ 11.27	$ 9.34

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity (unaudited) - 3 months ended Mar. 31, 2016 - USD ($)	Total	Limited Partner [Member]	General Partner [Member]	Total Partners' Equity [Member]	Noncontrolling Interests [Member]
Balance at Dec. 31, 2015	$ 141,700,080	$ 123,445,636	$ (520,252)	$ 122,925,384	$ 18,774,696
Balance (in shares) at Dec. 31, 2015		197,385
Net income	2,675,596	$ 2,224,098	22,466	2,246,564	429,032
Distributions	(4,340,102)	(3,929,829)	(39,695)	(3,969,524)	(370,578)
Balance at Mar. 31, 2016	$ 140,035,574	$ 121,739,905	$ (537,481)	$ 121,202,424	$ 18,833,150
Balance (in shares) at Mar. 31, 2016		197,385

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 2,675,596	$ 1,748,795
Adjustments to reconcile net income to net cash provided by operating activities:
Finance income	210,844	338,780
Credit loss	0	362,666
Rental income paid directly to lenders by lessees	0	(1,017,869)
Income from investment in joint ventures	(664,898)	(656,006)
Depreciation	8,576,645	8,078,356
Impairment loss	0	1,180,260
Interest expense on non-recourse financing paid directly to lenders by lessees	0	121,710
Interest expense from amortization of debt financing costs	211,216	110,992
Interest expense from amortization of seller's credit	214,456	77,579
Other financial loss	322,413	259,239
Paid-in-kind interest	0	4,744
Changes in operating assets and liabilities:
Other assets	1,366,636	843,819
Deferred revenue	414,361	(178,749)
Due to General Partner and affiliates, net	(2,700,063)	(157,920)
Distributions from joint ventures	623,233	477,387
Accrued expenses and other liabilities	(676,818)	(1,142,630)
Net cash provided by operating activities	10,573,621	10,451,153
Cash flows from investing activities:
Purchase of equipment	(9,875,000)	0
Principal received on finance leases	1,036,131	894,998
Principal received on notes receivable	319,219	2,789,946
Change in restricted cash	825,063	0
Distributions received from joint ventures in excess of profits	1,982,410	0
Net cash (used in) provided by investing activities	(5,712,177)	3,684,944
Cash flows from financing activities:
Repayment of non-recourse long-term debt	(8,277,597)	(10,199,056)
Payment of debt financing costs	(1,706,250)	(381,394)
Investments by noncontrolling interests	0	1,819
Distributions to noncontrolling interests	(370,578)	(370,539)
Repurchase of limited partnership interests	0	(59,139)
Distributions to partners	(3,969,524)	(3,933,033)
Net cash used in financing activities	(14,323,949)	(14,941,342)
Net (decrease) increase in cash	(9,462,505)	(805,245)
Cash, beginning of period	18,067,904	20,340,317
Cash, end of period	8,605,399	19,535,072
Supplemental disclosure of cash flow information:
Cash paid for interest	1,688,211.77	948,707
Supplemental disclosure of non-cash investing and financing activities:
Vessel purchased with non-recourse long-term debt paid directly to seller	45,500,000	0
Vessel purchased with suboridnated non-recourse financing provided by seller	6,917,883	0
Transfer of leased equipment at cost, net, to assets held for sale	0	4,019,740
Principal and interest on non-recourse long-term debt paid directly to lenders by lessees	$ 0	$ 1,017,869

Organization

Organization	3 Months Ended
	Mar. 31, 2016
Organization [Abstract]
Organization	(1) Organization ICON ECI Fund Fifteen, L.P. (the “Partnership”) was formed on September 23, 2010 as a Delaware limited partnership. When used in these notes to consolidated financial statements, the terms “we,” “us,” “our” or similar terms refer to the Partnership and its consolidated subsidiaries. Our offering period commenced on June 6, 2011 and ended on June 6, 2013, at which time we entered our operating period. W e are a direct financing fund that primarily makes investments in domestic and inte rnational companies, which investments are primarily structured as debt and debt-like financings (such as loans and leases) that are collateralized by business-essential equipment and corporate infrastructure (collectively, “Capital Assets”) utilized by su ch companies to operate their businesses, as well as other strategic investments in or collateralized by Capital Assets that ICON GP 15, LLC, a Delaware limited liability company and our general partner ( the “General Partner”) , believes will provide us wit h a satisfactory, risk-adjusted rate of return . Our General Partner makes investment decisions on our behalf and manages our business.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	(2) Summary of Significant Accounting Policies Basis of Presentation and Consolidation Our accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U . S . GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for Quarterly Reports on Form 10-Q . In the opinion of our General Partner, all adjustments, which are of a normal recurring n ature, considered necessary for a fair presentation have been included. These consolidated financial statements should be read together with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended Dece mbe r 31, 2015 . The results for the interim period are not necessarily indicative of the results for the full year. Certain reclassifications have been made to the accompanying consolidated financial statements in the prior year to conform to the current presentation. Credit Quality of Notes Receivable and Finance Leases and Credit Loss Reserve ICON Capital, LLC, a Delaware limited liability company (the “Investment Manager” ), monitors the ongoing credit quality of our financi ng receivables by (i) reviewing and analyzing a borrower’s financial performance on a regular basis, including review of financial statements received on a monthly, quarterly or annual basis as prescribed in the loan or lease agreement, (ii) tracking the r elevant credit metrics of each financing receivable and a borrower’s compliance with financial and non-financial covenants, (iii) monitoring a borrower’s payment history and public credit rating, if available, and (iv) assessing our exposure based on the c urrent investment mix. As part of the monitoring process, our Investment Manager may physically inspect the collateral or a borrower’s facility and meet with a borrower’s management to better understand such borrower’s financial performance and its future plans on an as-needed basis. As our financing receivables, generally notes receivable and finance leases, are limited in number, our Investment Manager is able to estimate the credit loss reserve based on a detailed analysis of each financing receivable as opposed to using portfolio-based metrics. Our Investment Manager does not use a system of assigning internal risk ratings to each of our financing receivables. Rather, each financing receivable is analyzed quarterly and categorized as either performing or non-performing based on certain factors including, but not limited to, financial results, satisfying scheduled payments and compliance with financial covenants. A financing receivable is usually categorized as non-performing only when a borrower experi ences financial difficulties and has failed to make scheduled payments. Our Investment Manager then analyzes whether the financing receivable should be placed on a non-accrual status, a credit loss reserve should be established or the financing receivable should be restructured. As part of the assessment, updated collateral value is usually considered and such collateral value can be based on a third party industry expert appraisal or, depending on the type of collateral and accessibility to relevant publis hed guides or market sales data, internally derived fair value. Material events would be specifically disclosed in the discussion of each financing receivable held. Financing rec eivables are generally placed on a non-accrual status when payments are more than 90 days past due. Additionally, our Investment Manager periodically reviews the creditworthiness of companies with payments outstanding less than 90 days and based upon our Investment Manager’s judgment, these accounts may be placed on a non-accr ual status. In accordance with the cost recovery method, payments received on non-accrual financing receivables are applied to principal if there is doubt regarding the ultimate collectability of principal. If collection of the principal of non-accrual f inancing receivables is not in doubt, interest income is recognized on a cash basis. Financing receivables on non-accrual status may not be restored to accrual status until all delinquent payments have been received, and we believe recovery of the remainin g unpaid receivable is probable . When our Investment Manager deems it is probable that we will not be able to collect all contractual principal and interest on a non-performing financing receivable, we perform an analysis to determine if a credit loss res erve is necessary. This analysis considers the estimated cash flows from the financing receivable, and/or the collateral value of the asset underlying the financing receivable when financing receivable repayment is collateral dependent. If it is determined that the impaired value of the non-performing financing receivable is less than the net carrying value, we will recognize a credit loss reserve or adjust the existing credit loss reserve with a corresponding charge to earnings. We then charge off a finan cing receivable in the period that it is deemed uncollectible by reducing the credit loss reserve and the balance of the financing receivable. Recently Adopted Accounting Pronouncements In January 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-01, Income Statement – Extraordinary and Unusual Items: Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (“ASU 2015-01”), which simplifies income statement prese ntation by eliminating the concept of extraordinary items. We adopted ASU 2015-01 on January 1, 2016, which did not have an effect on our consolidated financial statements as of and for the three months ended March 31, 2016. In February 2015, FASB issue d ASU No. 2015-02, Consolidation – Amendments to the Consolidation Analysis (“ASU 2015-02”), which modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership, and affects the consolidation analysis by reducing the frequency of application of related party guidance and excluding certain fees in the primary beneficiary determination. We adopted ASU 2015-02 on January 1, 2016, which did not have an effect on our consolidated financial statements as of and for the three months ended March 31, 2016. In April 2015, FASB issued ASU No. 2015-03, Interest – Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”), which requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of such debt liability, consistent with d ebt discounts. In August 2015, FASB issued ASU No. 2015-15, Interest – Imputation of Interest: Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements (“ASU 2015-15”), which further specifies the SEC Staff’s view on the presentation and subsequent measurement of debt issuance costs associated with line of credit arrangements. We retrospectively adopted ASU 2015-03 as of March 31, 2016. Consequently, we reclassified $1,6 78 ,576 of debt issuance costs from other assets to non-recourse long-term debt on our consolidated balance sheet at December 31, 201 At December 31, 2015 As Reported As Adjusted Other assets $ 9,010,672 $ 7,332,096 Non-recourse long-term debt $ 149,701,639 $ 148,023,063 In addition, we adopted ASU 2015-15 on January 1, 2016 and continue to present debt issuance costs associated with our revolving line of credit as other assets on our consolidated balance sheets. Other Recent Accounting Pronouncements In May 2014, FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), requiring revenue to be recognized in an amount that reflects the consideration expected to be received in exchange for goods and services. This new revenue s tandard may be applied retrospectively to each prior period presented, or retrospectively with the cumulative effect recognized as of the date of adoption. In August 2015, FASB issued ASU No. 2015-14, Revenue from Contracts with Customers – Deferral of the Effective Date (“ASU 2015-14”), which defers implementation of ASU 2014-09 by one year. Under such deferral, the adoption of ASU 2014-09 becomes effective for us on January 1, 2018, including interim periods within that reporting period. Early adoption is permitted, but not before our original effective date of January 1, 2017. We are currently in the process of evaluating the impact of the adoption of ASU 2014-09 on our consolidated financial statements. In August 2014, FASB issued ASU No. 2014-15, Presentation of Financial Statements – Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”), which provides guidance about management's responsibility to evaluate whether there is substantial d oubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. The adoption of ASU 2014-15 becomes effective for us on our fiscal year ending after December 31, 2016, and all subsequent annual and interim periods . Early adoption is permitted. The adoption of ASU 2014-15 is not expected to have a material effect on our consolidated financial statements. In January 2016, FASB issued ASU No. 2016-01, Financial Instruments – Overall: Recognition and Measurement of Fi nancial Assets and Financial Liabilities (“ASU 2016-01”), which provides guidance related to accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. I n addition, FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The adoption of ASU 2016-01 becomes effective for us on January 1 , 2018, including interim periods within that reporting period. We are currently in the process of evaluating the impact of the adoption of ASU 2016-01 on our consolidated financial statements. In February 2016, FASB issued ASU No. 2016-02, Leases (“ASU 2 016-02”), which requires lessees to recognize assets and liabilities for leases with lease terms greater than twelve months on the balance sheet and disclose key information about leasing arrangements. ASU 2016-02 implements changes to lessor accounting fo cused on conforming with certain changes made to lessee accounting and the recently released revenue recognition guidance. The adoption of ASU 2016-02 becomes effective for us on January 1, 2019. Early adoption is permitted. We are currently in the process of evaluating the impact of the adoption of ASU 2016-02 on our consolidated financial statements. In March 2016, FASB issued ASU No. 2016-05, Derivatives and Hedging: Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (“ASU 2016-05”), which clarifies that a change in the counterparty to a derivative instrument that has been designated as a hedging instrument does not, in and of itself, require de-designation of that hedging relationship provided that all other hedge acc ounting criteria continue to be met. The adoption of ASU 2016-05 becomes effective for us on January 1, 2017, including interim periods within that reporting period. An entity has the option to apply ASU No. 2016-05 on either a prospective basis or a modif ied retrospective basis. Early adoption is permitted. The adoption of ASU 2016-05 is not expected to have a material effect on our consolidated financial statements. In March 2016, FASB issued ASU No. 2016-07, Investments – Equity Method and Joint Venture s: Simplifying the Transition to the Equity Method of Accounting (“ASU 2016-07”), which eliminates the retroactive adjustments to an investment upon it qualifying for the equity method of accounting as a result of an increase in the level of ownership inte rest or degree of influence by the investor. ASU 2016-07 requires that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment qualifies for equity method accounting. The adoption of ASU 2016-07 becomes effective for us on January 1, 2017, including interim periods within that reporting period. Early adoption is permitted. The adoption o f ASU 2016-07 is not expected to have a material effect on our consolidated financial statements .

Net Investment in Notes Receiva

Net Investment in Notes Receivable	3 Months Ended
	Mar. 31, 2016
Net Investment in Notes Receivable [Abstract]
Net Investment in Notes Receivable	(3) Net Investment in Notes Receivable As of March 31, 2016 and December 31, 2015, we had no net investment in notes receivable on non-accrual status. As of March 31, 2016 and December 31, 2015 , our net investment in note receivable related to Ensaimada S.A. (“Ensaimada ”) totaled $5,178,776 , which was fully reserved as of December 31, 2015 . The loan bears interest at 17% per year and matures in November 2016. The loan is secured by a second priority security interest in a dry bulk carrier, its e arnings and the equity interests of Ensaimada. All of Ensaimada’s obligations under the loan agreement are guaranteed by both N&P Shipping Co. (“N&P”), the parent company of Ensaimada, and by one of N&P’s shareholders. As a result of (i) a depressed marke t for dry bulk carriers that led to Ensaimada’s failure to make quarterly interest payments under the loan, (ii) the termination of discussions regarding a refinancing transaction that would have enabled Ensaimada to prepay the loan, (iii) a lack of additi onal discussions with Ensaimada regarding a potential restructuring of the loan maturing in November 2016 and (iv) the fact that the current fair market value of the collateral is less than Ensaimada’s senior debt obligations, which have priority over our loan, our Investment Manager determined that the loan was impaired and an aggregate credit loss of $5,397,913 was recorded during the year ended December 31, 2015. As a result, the loan was fully reserved as of December 31, 2015. For the three months ended Marc h 31, 2016 and 2015, we recognized finance income of $0 and $186,374, respectively, prior to the loan being considered impaired. As of March 31, 2016 and December 31, 2015, our net investment in note receivable related to Ensaimada was $0. As of March 31, 2016 , our net investment in note receivable and accrued interest related to four a ffiliates of Técnicas Maritimas Avanzadas, S.A. de C.V. (collectively, “TMA”) totaled $3,500,490 and $ 589,589 , respectively, of which an aggregate of $ 754,264 was over 90 day s past due. As of December 31, 2015, our net investment in note receivable and accrued interest related to TMA totaled $3,500,490 and $ 461,211 , respectively, of which an aggregate of $ 522,913 was over 90 days past due . TMA is in technical default due to it s failure to cause all four platform supply vessels to be under contract by March 31, 2015 and in payment default while available cash has been swept by the senior lender and applied to the senior tranche of the facility (the “ Senior Loan ”) in accordance w ith the secured term loan credit facility agreement. Interest on our tranche of the facility (the “I CON Loan ”) is currently being capitalized. While our note receivable has not been paid in accordance with the secured term loan credit facility agreement, our collateral position has been strengthened as the principal balance of the Senior Loan was paid down at a faster rate. Based on, among other things, TMA’s payment history and the collateral value as of March 31, 2016 , our Investment Manager continues to believe that all contractual interest and outstanding principal payments under the ICON Loan are collectible. As a result, we continue to account for our net investment in note receivable related to TMA on an accrual basis despite a portion of the outstanding balance being over 90 days past due. In January 2016, the remaining two previously unchartered vessels had commenced employment. As a result, our Investment Manager is currently engaged in discussions with the senior lender and TMA to amen d the facility and expects that payments to us will recommence in the near future. Net investment in notes receivable consisted of the following: March 31, December 31, 2016 2015 Principal outstanding (1) $ 33,801,238 $ 34,214,368 Initial direct costs 1,348,933 1,519,922 Deferred fees (292,484) (322,621) Credit loss reserve (2) (5,397,913) (5,397,913) Net investment in notes receivable (3) $ 29,459,774 $ 30,013,756 (1) As of March 31, 2016 and December 31, 2015, total principal outstanding related to our impaired loan of $5,178,776 was related to Ensaimada. (2) As of March 31, 2016 and December 31, 2015, the credit loss reserve of $5,397,913 was related to Ensaimada. (3) As of March 31, 2016 and December 31, 2015, net investment in note receivable related to our impaired loan was $0. Credit loss all owance activities for the three months ended March 31, 2016 were as follows: Credit Loss Allowance Allowance for credit loss as of December 31, 2015 $ 5,397,913 Provisions - Write-offs, net of recoveries - Allowance for credit loss as of March 31, 2016 $ 5,397,913 Credit loss allowance activities for the three months ended March 31, 2015 were as follows: Credit Loss Allowance Allowance for credit loss as of December 31, 2014 $ 631,986 Provisions 362,666 Write-offs, net of recoveries - Allowance for credit loss as of March 31, 2015 $ 994,652

Leased Equipment at Cost

Leased Equipment at Cost	3 Months Ended
	Mar. 31, 2016
Leased Equipment at Cost [Abstract]
Leased Equipment at Cost	(4) Leased Equipment at Cost Leased equipment at cost consisted of the following: March 31, December 31, 2016 2015 Marine vessels $ 81,651,931 $ 81,651,931 Photolithograph immersion scanner 79,905,122 79,905,122 Geotechnical drilling vessels 124,573,141 62,280,258 Leased equipment at cost 286,130,194 223,837,311 Less: accumulated depreciation 48,829,903 40,253,258 Leased equipment at cost, less accumulated depreciation $ 237,300,291 $ 183,584,053 Depreciation expense was $ 8,576,645 and $ 8,078,356 for the three months ended March 31, 2016 and 2015 , respectively. Geotechnical Drilling Vessels On December 23, 2015, a joint venture owned 75% by us, 15% by ICON Equipment and Corporate Infrastructure Fund Fourteen, L.P. (“ Fund Fourteen ”) and 10% by ICON ECI Fund Sixteen (“ Fund Sixteen ”) , each an entity also managed by our Investment Manager, through two indirect subsidiaries, entered into memoranda of agreement to purchase two geotechni cal drilling vessels, the Fugro Scout and the Fugro Voyager (collectively, the “Fugro Vessels”), from affiliates of Fugro N.V. (“Fugro”) for an aggregate purchase price of $130,000,000. The Fugro Scout and the Fugro Voyager were delivered on December 2 4 , 2015 and January 8, 2016, respectively. The Fugro Vessels were bareboat chartered to affiliates of Fugro for a period of 12 years upon the delivery of each respective vessel, although such charters can be terminated by the indirect subsidiaries after year five. On December 2 4 , 2015, the Fugro Scout was acquired for (i) $8,250,000 in cash, (ii) $45,500,000 of financing through a senior secured loan from ABN AMRO Bank N.V. (“ABN AMRO”), Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (“Rabobank”) and NIB C Bank N.V. (“NIBC”) and (iii) an advanced charter hire payment of $11,250,000. As of December 31, 2015, the cash portion of the purchase price for the Fugro Voyager of approximately $10,221,000 was being held by the applicable indirect subsidiary of the j oint venture until delivery of the vessel and therefore, such cash was included in our consolidated balance sheet at December 31, 2015 . On January 8, 2016, the Fugro Voyager was also acquired for $8,250,000 in cash, $45,500,000 of financing through a senio r secured loan from ABN AMRO, Rabobank and NIBC and an a dvanced charter hire payment of $11,250,000. The advanced charter hire payments were recorded at present value at inception in accordance with U.S. GAAP. The senior secured loans bear interest at the London Interbank Offered Rate (“ LIBOR ”) plus 2.95% per year, which was fixed at 4.117% after giving effect to the indirect subsidiaries’ interest rate swap agreements, and mature on December 31, 2020. Photolithograph Immersion Scanner On March 31, 2016, we were notified by Inotera Memories, Inc. (“Inotera”) that it will be exercising its option to purchase the ph otolithograph immersion scanner in or around November 2016.

Net Investment in Finance Lease

Net Investment in Finance Lease	3 Months Ended
	Mar. 31, 2016
Net Investment in Finance Lease [Abstract]
Net Investment in Finance Leases	(5) Net Investment in Finance Leases As of March 31, 2016 and December 31, 2015, we had no net investment in finance leases on non-accrual status and no net investment in finance leases that was past due 90 days or more and still accruing. Net investment in finance leases consisted of the following: March 31, December 31, 2016 2015 Minimum rents receivable $ 70,714,048 $ 73,186,778 Estimated unguranteed residual values 2,127,162 2,127,162 Initial direct costs 975,934 1,066,616 Unearned income (15,239,861) (16,697,150) Net investment in finance leases $ 58,577,283 $ 59,683,406

Investment in Joint Ventures

Investment in Joint Ventures	3 Months Ended
	Mar. 31, 2016
Investments in Joint Ventures [Abstract]
Equity Method Investments Disclosure Text Block	( 6 ) Investment in Joint Venture s On May 15 , 2013, a joint venture owned 40% by us, 39 % by ICON Leasing Fund Eleven , LLC (“Fund Eleven”) and 21 % by ICON Leasing Fund Twelve, LLC (“Fund Twelve ”), each an entity also managed by our Investment Manager, purchased a portion of a $208,038,290 subordinated credit facility for Jurong Aromatics Corporation Pte. Ltd. (“JAC”) from Standard Chartered Bank (“Standard Chartered”) for $28,462,500. The subordinated credit facility initially bore interest at rate s ranging between 12.5% and 15 % per year and matures in January 2021. As a result of JAC’s failure to make an expected payment that was due to the joint venture during the three months ended March 31, 2015, the interest rate payable by JAC under the fa cility increased from 12.5% to 15.5%. The subordinated credit facility is secured by a second priority security interest in all JAC’s assets, which include, among other things, all equipment, plant and machinery associated with a condensate splitter and ar omatics complex. Our initial contribution to the joint venture was $ 12,296,208 . During 2015, JAC experienced liquidity constraints as a result of a general economic slow-dow n in China and India, which led to lower demand from such countries, as well as the price decline of energy and other commodities. As a result, JAC’s manufacturing facility ceased operations and JAC was not able to service interest payments under the facility. In addition, an expected tolling arrangement with JAC’s suppliers that would h ave allowed JAC’s manufacturing facility to resume operations did not commence in 2015 as originally anticipated. Discussions among the senior lenders and certain other stakeholders of JAC regarding a restructuring plan ended as the senior lenders did not agree to amendments to their credit facilities as part of the broader restructuring that was being contemplated. As a result, JAC entered receivership on September 28, 2015. As a result of these factors, d uring the three months ended June 30, 2015, our In vestment Manager determined that there was doubt regarding the joint venture’s ultimate collectability of the facility and commenced recording credit losses. Commencing with the three months ended June 30, 2015 and on a quarterly basis thereafter, our Inve stment Manager has reassessed the collectability of the facility by considering the following factors, among others (i) what a potential buyer may be willing to pay to acquire JAC based on a comparable enterprise value derived from EBITDA multiples and (ii ) the average trading price of unsecured distressed debt in comparable industries. During the year ended December 31, 2015, the joint venture recorded an aggregate credit loss of $ 31,637,426 related to JAC based on our Investment Manager’s quarterly colle ctability analyses, of which our share was $ 12,879,462 . To the extent there was an indication that (i) the underlying investment in JAC owned by the joint venture may be impaired or (ii) our investment in the joint venture may be impaired, our Investment Manager assessed impairment under the equity method of accounting for our investment in the joint venture and concluded that there was no impairment. In January 2016, our Investment Manager engaged in further discussions with JAC’s other subordinated lend ers and the Receiver regarding a near term plan for JAC’s manufacturing facility. Based upon such discussions, our Investment Manager anticipates that a one-year tolling arrangement with JAC’s suppliers will be implemented during the first half of 2016 to allow JAC’s facility to recommence operations. Although our Investment Manager believes that the marketability of JAC’s facility should improve if and when the facility recommences operations, our Investment Manager does not anticipate that JAC will make a ny payments to the joint venture while operating under the expected tolling arrangement. As of March 31, 2016, our Investment Manager updated its quarterly assessment of the joint venture’s ultimate collectability of the facility and determined that there was no new additional material information that would warrant a change to the recoverable amount determined as of December 31, 2015. An additional credit loss may be recorded in future periods based upon future developments of the receivership process or i f the joint venture’s ultimate collectability of the facility results in less of a recovery from its current estimate. For the three months ended March 31, 2016 and 2015, the joint venture recognized finance income of $0 and $1,152,580, respectively, prior to the facility being considered impaired . As of March 31, 2016 and December 31, 2015, the total net investment in notes receivable held by the joint venture was $5,365,776 , and our total investment in the joint venture was $ 2,152,337 . Three Months Ended March 31, 2016 2015 Revenue $ - $ 1,152,580 Net income $ - $ 1,142,854 Our share of net income $ - $ 439,979 On January 14 , 2016, D&T Holdings, LLC (“D&T”) satisfied its remaining lease obligations by mak ing a prepayment of $8,000,000. In addition, D&T exercised its option to repurchase all assets under the lease for $1, upon which title was transferred. As a result of the prepayment, the joint venture owned 27.5% by us recognized finance income of approximately $1,400,000, of which our share was approximately $385,000.

Non-Recourse Long-Term Debt

Non-Recourse Long-Term Debt	3 Months Ended
	Mar. 31, 2016
Non-Recourse Long-Term Debt [Abstract]
Non-Recourse Long-Term Debt	( 7 ) Non-Recourse Long-Term Debt As of March 31, 2016 and December 31, 2015 , we had the following non-recourse long-term debt Counterparty March 31, 2016 December 31, 2015 Maturity Rate ABN AMRO, Rabobank, NIBC $ 91,000,000 $ 45,500,000 2020 4.117%* DVB Bank America N.V. 38,645,833 39,750,000 2020 4.60% DBS Bank (Taiwan) Ltd. 31,408,209 37,501,639 2016 2.55-6.51% NIBC Bank N.V. 17,745,000 18,200,000 2018 LIBOR + 3.75% DVB Bank SE 8,125,000 8,750,000 2019 4.997% 186,924,042 149,701,639 Less: debt issuance costs 2,496,591 1,678,576 Total non-recourse long-term debt $ 184,427,451 $ 148,023,063 * The interest rate was fixed after giving effect to the interest rate swaps entered into on February 8, 2016 (see below). All of our non-recourse long-term debt obligations consist of notes payable in which the lender has a security interest in the underlying assets. If the borrower w as to default on the underlying lease, resulting in our default on the non-recourse long-term debt, the assets could be foreclosed upon and the proceeds would be remitted to the lender in extinguishment of that debt. As of March 31, 2016 and December 31, 2015 , the total carrying value of assets subject to non-recourse long term deb t was $ 281,677,552 and $ 228,696,073, respectively . We, through two indirect subsidiaries, partly financed the acquisition of the Fugro Vessels by entering into a non-recourse loan agreement with ABN AMRO, Rabobank and NIBC in the aggregate amount of $91,000,000. On December 2 4 , 2015, $45,500,000 was drawn down from the loan for the acquisition of the Fugro Scout. On January 8, 2016, the remaining $45,500,000 was drawn down for the acquisition of the Fugro Voyager. The senior secured loans bear interest at LIBOR plus 2.95% per year and mature on December 31, 2020. On February 8, 2016, the indirect subsidiaries entered into interest rate swap agreements to effectively fix the variable interest rate at 4.117%. At March 31, 2016 , we were in compliance with the covenants related to ou r non-recourse long-term debt .

Revolving Line of Credit, Recou

Revolving Line of Credit, Recourse	3 Months Ended
	Mar. 31, 2016
Revolving Line of Credit, Recourse [Abstract]
Revolving Line of Credit, Recourse	(8) Revolving Line of Credit, Recourse We have an agreement with California Bank & Trust (“CB&T”) for a revolving line of credit through May 30, 2017 of up to $12 , 5 00,000 (the “Facility”), which is secured by all of our assets not subject to a first priority lien. Amounts available under the Facility are subject to a borrowing base that is determined, subject to certain limitations, by the present value of the future receivables under certain loans and lease agreements in which we have a be neficial interest. The interest rate for general advances under the Facility is CB&T’s prime rate. We may elect to designate up to five advances on the outstanding principal balance of the Facility to bear interest at LIBOR plus 2.5% per year. In all inst ances, borrowings under the Facility are subject to an interest rate floor of 4.0% per year. In addition, we are obligated to pay an annualized 0.5% fee on unused commitments under the Facility. At March 31, 2016 , there were no obligations outstanding unde r the Facility and we were in compliance with all covenants related to the Facility. At March 31, 2016 , we had $ 8,422,617 available under the Facility pursuant to the borrowing base.

Transactions with Related Parti

Transactions with Related Parties	3 Months Ended
	Mar. 31, 2016
Transactions with Related Parties [Abstract]
Transactions with Related Parties	( 9 ) Transactions with Related Parties We paid distributions to our General Partner of $ 39,695 and $ 39,330 for the three months ended March 31, 2016 and 2015 , respectively . Our General Partner’s interest in the net income attributable to us was $ 22,466 and $ 18,622 for the three months ended March 31, 2016 and 2015 , respectively. Fees and other expenses incurred by us to our General Partner or its affiliates were as follows: Three Months Ended March 31, Entity Capacity Description 2016 2015 ICON Capital, LLC Investment Manager Management fees (1) $ 285,922 $ 398,164 Administrative expense ICON Capital, LLC Investment Manager reimbursements (1) 330,562 402,887 Fund Fourteen Noncontrolling interest Interest expense (1) 102,369 101,162 $ 718,853 $ 902,213 (1) Amount charged directly to operations. At March 31, 2016 , we had a net payable of $ 2,982,580 due to our General Partner and affiliates that primarily consisted of a note payable of $2,608,146 and accrued interest of $30,320 due to Fund Fourteen related to its noncontrolling interest in a vessel, the Lewek Ambassador, and administrative expense reimbursements of $330,562 due to our Investment Manager. At December 31, 2015, we had a net payable of $5,682,643 due to our General Partner and affiliates that primarily consisted of a note payable of $2,614,691 and accrued interest of $30,396 due to Fund Fourteen related to its noncontrolling interest in the Lewek Ambassador, and administrative expense reimbursements of $519,380 and acquisition fees of $2,437,500 due to our Investmen t Manager.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	(10 ) Derivative Financial Instruments We may enter into derivative financial instruments for purposes of hedging specific financial exposures, including movements in foreign currency exchange rates and changes in interest rates on our non-recourse long-term debt. We enter into these instruments only for hedging underlying exposures. We do not hold or issue derivative financial instruments for purposes other than hedging . Certain derivatives may not meet the established criteria to be d esignated as qualifying accounting hedges, even though we believe that these are effective economic hedges. We recognize all derivative financial instruments as either assets or liabilities on our consolidated balance sheets and measure those instruments at fair value. Changes in the fair value of such instruments are recognized immediately in earnings unless certain criteria are met. These criteria demonstrate that the derivative is expected to be highly effective at offsetting changes in the fair value o r expected cash flows of the underlying exposure at both the inception of the hedging relationship and on an ongoing basis and include an evaluation of the counterparty risk and the impact, if any, on the effectiveness of the derivative. If these criteria are met, which we must document and assess at inception and on an ongoing basis, we recognize the changes in fair value of such instruments in accumulated other comprehensive income (loss) , a component of equity on our consolidated balance sheets. Changes i n the fair value of the ineffective portion of all derivatives are recognized immediately in earnings. U.S. GAAP and relevant International Swaps and Derivatives Association, Inc. agreements permit a reporting entity that is a party to a master netting ag reement to offset fair value amounts recognized for derivative instruments that have been offset under the same master netting agreement. We elected to present the fair value of derivative contracts on a gross basis on our consolidated balance sheets. Interest Rate Risk Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements on our variable non-recourse debt. Our strategy to accomplish these objectives is to match the projected future cash flows with the underlying debt service. Each interest rate swap involves the receipt of floating-rate interest payments from a counterparty in exchange for us making fixed-rate interest payments over the life of the agreement with out exchange of the underlying notional amount. Counterparty Risk We manage exposure to possible defaults on derivative financial instruments by monitoring the concentration of risk that we have with any individual bank and through the use of minimum cre dit quality standards for all counterparties. We do not require collateral or other security in relation to derivative financial instruments. Since it is our policy to enter into derivative contracts only with banks of internationally acknowledged standing and the fair value of our derivatives is in a liability position , we consider the counterparty risk to be remote. Credit Risk Derivative contracts may contain credit-risk related contingent features that can trigger a termination event, such as maintaining specified financial ratios. In the event that we would be required to settle our obligations under the derivative contracts as of March 31, 2016 , the termination value would be $270,578. Non-designated Derivatives On February 8, 2016, we ente red into two interest rate swaps with ABN AMRO that are not designated and not qualifying as cash flow hedges with an aggregate notional amount of $89,104,16 6 . These interest rate swaps are not speculative and are used to meet our objectives in using interest rate derivatives to add stability to interest expense and to manage our exposure to interest rate movements. All changes in the fair value of the interest rate swaps not designated as hedges are recorded directly in earnings, which is included in loss on derivative financial instruments on our consolidated statements of operations. We had no derivative financial instruments as of December 31, 2015. The table below presents the fair value of our derivative financial instruments as well as their classification within our consolidated balance sheets as of March 31, 2016 . Liability Derivatives March 31, 2016 Balance Sheet Location Fair Value Derivatives not designated as hedging instruments: Interest rate swaps Derivative financial instruments $ 211,020 Our derivative financial instruments not designated as hedging instruments generated a loss on derivative financial instruments on our consolidated statements of operations for the three months ended March 31, 2016 of $282,894 .

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Measurements [Abstract]
Fair Value Measurements	(11) Fair Value Measurements Assets and liabilities carried at fair value are classified and disclosed in one of the following three categories: Level 1: Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2: Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3: Pricing inputs that are generally unobservable and are supported b y little or no market data. Financial Liabilities Measured on a Recurring Basis Financial liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our Investment Manager’s assessment, on our behalf, of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of the liabilities being measured and their placement within the fair value hierarchy. The following table summarizes the v aluation of our financial liabilities measured at fair value on a recurring basis as of March 31, 2016: Level 1 Level 2 Level 3 Total Liabilities: Interest rate swaps $ - $ 211,020 $ - $ 211,020 Our interest rate swaps are valued using models based on readily observable market parameters for all substantial terms of such derivative financial instruments and are classified within Level 2. In accordance with U.S. GAAP , we use market prices and pricing models for fair value measurements of our derivative financial instruments. Interest Rate Swaps We utilize a model that incorporates common market pricing methods as well as underlying characteristics of the particular swap con tract . Interest rate swaps are modeled by incorporating such inputs as the term to maturity, LIBOR swap curves, Overnight Index Swap curves and the payment rate on the fixed portion of the interest rate swap. Such inputs are classified within Level 2. Ther eafte r, we compare third party quotations received to our own estimate of fair value to evaluate for reasonableness. The fair value of the interest rate swaps was recorded in derivative financial instruments within our consolidated balance sheets. Assets and Liabilities for which Fair V alue is D isclosed Certain of our financial assets and liabilities, which includes fixed-rate notes receivable, fixed-rate non-recourse long-term debt, and seller’s credits, for which fair value is required to be disclosed, were valued using inputs that are generally unobservable and are supported by little or no market data and are therefore classified within Level 3. Under U.S. GAAP, we use projected cash flows for fair value me asurements of these financial assets and liabilities. Fair value information with respect to certain of our other assets and liabilities is not separately provided since (i) U.S. GAAP does not require fair value disclosures of lease arrangements and (ii) t he carrying value of financial assets and liabilities, other than lease-related investments, and the recorded value of our Facility approximates fair value due to their short-term maturities and/or variable interest rates. The estimated fair value of our fixed-rate notes receivable was based on the discounted value of future cash flows related to the loans at inception, adjusted for changes in certain variables, including, but not limited to, credit quality, industry, financial markets and other recent com parables. The estimated fair value of our fixed-rate non-recourse long-term debt and seller’s credits was based on the discounted value of future cash flows related to the debt and seller’s credit based on a discount rate derived from the margin at incepti on, adjusted for material changes in risk, plus the applicable fixed rate based on the current interest rate curve. The fair value of the principal outstanding on fixed-rate notes receivable was derived using discount rates ranging between 10.20% and 25.00 % as of March 31, 2016. The fair value of the principal outstanding on fixed-rate non-recourse long-term debt and seller’s credits was derived using discount rates ranging between 3.76% and 4.93 % as of March 31, 2016. March 31, 2016 Carrying Fair Value Amount (Level 3) Principal outstanding on fixed-rate notes receivable $ 28,622,462 $ 30,099,166 Principal outstanding on fixed-rate non-recourse long-term debt $ 171,787,188 $ 171,973,932 Seller's credits $ 20,569,426 $ 20,818,322

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	(12) Commitments and Contingencies At the time we acquire or divest of our interest in Capital Assets, we may, under very limited circumstances, agree to indemnify the seller or buyer for specific contingent liabilities. Our General Partner believes that any liability of ours that may arise as a result of any such indemnification obligations will not have a material adverse effect on our consolidated financial condit ion or results of operations taken as a whole. In connectio n with certain debt obligations, we are required to maintain restricted cash balances with certain banks. At March 31, 2016 , we had restricted cash of $ 3,358,901 , which is presented within other assets in our consolidated balance sheets.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	(13) Subsequent Event On April 5, 2016, two wholly -owned subsidiaries of Ardmore Shipholding Limited (collectively, “Ardmore”) exercised their options to purchase two chemical tanker vessels, the Ardmore Capella and the Ardmore Calypso, from two joint ventures each owned 55% by us for an aggregate purchase price of $26,990,000 in accordance with the bareboat charters. We used a portion of the proceeds from such sales to satisfy our non-recourse debt obligations with NIBC associated with the vessels.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation Our accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U . S . GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for Quarterly Reports on Form 10-Q . In the opinion of our General Partner, all adjustments, which are of a normal recurring n ature, considered necessary for a fair presentation have been included. These consolidated financial statements should be read together with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended Dece mbe r 31, 2015 . The results for the interim period are not necessarily indicative of the results for the full year. Certain reclassifications have been made to the accompanying consolidated financial statements in the prior year to conform to the current presentation.
Credit Quality of Notes Receivable and Finance Leases and Credit Loss Reserve	Credit Quality of Notes Receivable and Finance Leases and Credit Loss Reserve ICON Capital, LLC, a Delaware limited liability company (the “Investment Manager” ), monitors the ongoing credit quality of our financi ng receivables by (i) reviewing and analyzing a borrower’s financial performance on a regular basis, including review of financial statements received on a monthly, quarterly or annual basis as prescribed in the loan or lease agreement, (ii) tracking the r elevant credit metrics of each financing receivable and a borrower’s compliance with financial and non-financial covenants, (iii) monitoring a borrower’s payment history and public credit rating, if available, and (iv) assessing our exposure based on the c urrent investment mix. As part of the monitoring process, our Investment Manager may physically inspect the collateral or a borrower’s facility and meet with a borrower’s management to better understand such borrower’s financial performance and its future plans on an as-needed basis. As our financing receivables, generally notes receivable and finance leases, are limited in number, our Investment Manager is able to estimate the credit loss reserve based on a detailed analysis of each financing receivable as opposed to using portfolio-based metrics. Our Investment Manager does not use a system of assigning internal risk ratings to each of our financing receivables. Rather, each financing receivable is analyzed quarterly and categorized as either performing or non-performing based on certain factors including, but not limited to, financial results, satisfying scheduled payments and compliance with financial covenants. A financing receivable is usually categorized as non-performing only when a borrower experi ences financial difficulties and has failed to make scheduled payments. Our Investment Manager then analyzes whether the financing receivable should be placed on a non-accrual status, a credit loss reserve should be established or the financing receivable should be restructured. As part of the assessment, updated collateral value is usually considered and such collateral value can be based on a third party industry expert appraisal or, depending on the type of collateral and accessibility to relevant publis hed guides or market sales data, internally derived fair value. Material events would be specifically disclosed in the discussion of each financing receivable held. Financing rec eivables are generally placed on a non-accrual status when payments are more than 90 days past due. Additionally, our Investment Manager periodically reviews the creditworthiness of companies with payments outstanding less than 90 days and based upon our Investment Manager’s judgment, these accounts may be placed on a non-accr ual status. In accordance with the cost recovery method, payments received on non-accrual financing receivables are applied to principal if there is doubt regarding the ultimate collectability of principal. If collection of the principal of non-accrual f inancing receivables is not in doubt, interest income is recognized on a cash basis. Financing receivables on non-accrual status may not be restored to accrual status until all delinquent payments have been received, and we believe recovery of the remainin g unpaid receivable is probable . When our Investment Manager deems it is probable that we will not be able to collect all contractual principal and interest on a non-performing financing receivable, we perform an analysis to determine if a credit loss res erve is necessary. This analysis considers the estimated cash flows from the financing receivable, and/or the collateral value of the asset underlying the financing receivable when financing receivable repayment is collateral dependent. If it is determined that the impaired value of the non-performing financing receivable is less than the net carrying value, we will recognize a credit loss reserve or adjust the existing credit loss reserve with a corresponding charge to earnings. We then charge off a finan cing receivable in the period that it is deemed uncollectible by reducing the credit loss reserve and the balance of the financing receivable.
New Accounting Pronouncements Policy Policy Text Block	Recently Adopted Accounting Pronouncements In January 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-01, Income Statement – Extraordinary and Unusual Items: Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (“ASU 2015-01”), which simplifies income statement prese ntation by eliminating the concept of extraordinary items. We adopted ASU 2015-01 on January 1, 2016, which did not have an effect on our consolidated financial statements as of and for the three months ended March 31, 2016. In February 2015, FASB issue d ASU No. 2015-02, Consolidation – Amendments to the Consolidation Analysis (“ASU 2015-02”), which modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership, and affects the consolidation analysis by reducing the frequency of application of related party guidance and excluding certain fees in the primary beneficiary determination. We adopted ASU 2015-02 on January 1, 2016, which did not have an effect on our consolidated financial statements as of and for the three months ended March 31, 2016. In April 2015, FASB issued ASU No. 2015-03, Interest – Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”), which requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of such debt liability, consistent with d ebt discounts. In August 2015, FASB issued ASU No. 2015-15, Interest – Imputation of Interest: Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements (“ASU 2015-15”), which further specifies the SEC Staff’s view on the presentation and subsequent measurement of debt issuance costs associated with line of credit arrangements. We retrospectively adopted ASU 2015-03 as of March 31, 2016. Consequently, we reclassified $1,6 78 ,576 of debt issuance costs from other assets to non-recourse long-term debt on our consolidated balance sheet at December 31, 201 At December 31, 2015 As Reported As Adjusted Other assets $ 9,010,672 $ 7,332,096 Non-recourse long-term debt $ 149,701,639 $ 148,023,063 In addition, we adopted ASU 2015-15 on January 1, 2016 and continue to present debt issuance costs associated with our revolving line of credit as other assets on our consolidated balance sheets. Other Recent Accounting Pronouncements In May 2014, FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), requiring revenue to be recognized in an amount that reflects the consideration expected to be received in exchange for goods and services. This new revenue s tandard may be applied retrospectively to each prior period presented, or retrospectively with the cumulative effect recognized as of the date of adoption. In August 2015, FASB issued ASU No. 2015-14, Revenue from Contracts with Customers – Deferral of the Effective Date (“ASU 2015-14”), which defers implementation of ASU 2014-09 by one year. Under such deferral, the adoption of ASU 2014-09 becomes effective for us on January 1, 2018, including interim periods within that reporting period. Early adoption is permitted, but not before our original effective date of January 1, 2017. We are currently in the process of evaluating the impact of the adoption of ASU 2014-09 on our consolidated financial statements. In August 2014, FASB issued ASU No. 2014-15, Presentation of Financial Statements – Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”), which provides guidance about management's responsibility to evaluate whether there is substantial d oubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. The adoption of ASU 2014-15 becomes effective for us on our fiscal year ending after December 31, 2016, and all subsequent annual and interim periods . Early adoption is permitted. The adoption of ASU 2014-15 is not expected to have a material effect on our consolidated financial statements. In January 2016, FASB issued ASU No. 2016-01, Financial Instruments – Overall: Recognition and Measurement of Fi nancial Assets and Financial Liabilities (“ASU 2016-01”), which provides guidance related to accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. I n addition, FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The adoption of ASU 2016-01 becomes effective for us on January 1 , 2018, including interim periods within that reporting period. We are currently in the process of evaluating the impact of the adoption of ASU 2016-01 on our consolidated financial statements. In February 2016, FASB issued ASU No. 2016-02, Leases (“ASU 2 016-02”), which requires lessees to recognize assets and liabilities for leases with lease terms greater than twelve months on the balance sheet and disclose key information about leasing arrangements. ASU 2016-02 implements changes to lessor accounting fo cused on conforming with certain changes made to lessee accounting and the recently released revenue recognition guidance. The adoption of ASU 2016-02 becomes effective for us on January 1, 2019. Early adoption is permitted. We are currently in the process of evaluating the impact of the adoption of ASU 2016-02 on our consolidated financial statements. In March 2016, FASB issued ASU No. 2016-05, Derivatives and Hedging: Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (“ASU 2016-05”), which clarifies that a change in the counterparty to a derivative instrument that has been designated as a hedging instrument does not, in and of itself, require de-designation of that hedging relationship provided that all other hedge acc ounting criteria continue to be met. The adoption of ASU 2016-05 becomes effective for us on January 1, 2017, including interim periods within that reporting period. An entity has the option to apply ASU No. 2016-05 on either a prospective basis or a modif ied retrospective basis. Early adoption is permitted. The adoption of ASU 2016-05 is not expected to have a material effect on our consolidated financial statements. In March 2016, FASB issued ASU No. 2016-07, Investments – Equity Method and Joint Venture s: Simplifying the Transition to the Equity Method of Accounting (“ASU 2016-07”), which eliminates the retroactive adjustments to an investment upon it qualifying for the equity method of accounting as a result of an increase in the level of ownership inte rest or degree of influence by the investor. ASU 2016-07 requires that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment qualifies for equity method accounting. The adoption of ASU 2016-07 becomes effective for us on January 1, 2017, including interim periods within that reporting period. Early adoption is permitted. The adoption o f ASU 2016-07 is not expected to have a material effect on our consolidated financial statements .

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2016
Summary of Significant Accounting Policies [Abstract]
New Accounting Pronouncement Early Adoption	At December 31, 2015 As Reported As Adjusted Other assets $ 9,010,672 $ 7,332,096 Non-recourse long-term debt $ 149,701,639 $ 148,023,063

Net Investment in Notes Recei22

Net Investment in Notes Receivable (Tables)	3 Months Ended
	Mar. 31, 2016
Net Investment in Notes Receivable [Abstract]
Net Investments in Notes Receivable	Net investment in notes receivable consisted of the following: March 31, December 31, 2016 2015 Principal outstanding (1) $ 33,801,238 $ 34,214,368 Initial direct costs 1,348,933 1,519,922 Deferred fees (292,484) (322,621) Credit loss reserve (2) (5,397,913) (5,397,913) Net investment in notes receivable (3) $ 29,459,774 $ 30,013,756 (1) As of March 31, 2016 and December 31, 2015, total principal outstanding related to our impaired loan of $5,178,776 was related to Ensaimada. (2) As of March 31, 2016 and December 31, 2015, the credit loss reserve of $5,397,913 was related to Ensaimada. (3) As of March 31, 2016 and December 31, 2015, net investment in note receivable related to our impaired loan was $0.
Allowance For Credit Losses On Financing Receivables [Table Text Block]	Credit loss all owance activities for the three months ended March 31, 2016 were as follows: Credit Loss Allowance Allowance for credit loss as of December 31, 2015 $ 5,397,913 Provisions - Write-offs, net of recoveries - Allowance for credit loss as of March 31, 2016 $ 5,397,913 Credit loss allowance activities for the three months ended March 31, 2015 were as follows: Credit Loss Allowance Allowance for credit loss as of December 31, 2014 $ 631,986 Provisions 362,666 Write-offs, net of recoveries - Allowance for credit loss as of March 31, 2015 $ 994,652

Leased Equipment at Cost (Table

Leased Equipment at Cost (Tables)	3 Months Ended
	Mar. 31, 2016
Leased Equipment at Cost [Abstract]
Leased Equipment At Cost	Leased equipment at cost consisted of the following: March 31, December 31, 2016 2015 Marine vessels $ 81,651,931 $ 81,651,931 Photolithograph immersion scanner 79,905,122 79,905,122 Geotechnical drilling vessels 124,573,141 62,280,258 Leased equipment at cost 286,130,194 223,837,311 Less: accumulated depreciation 48,829,903 40,253,258 Leased equipment at cost, less accumulated depreciation $ 237,300,291 $ 183,584,053

Net Investment in Finance Lea24

Net Investment in Finance Lease (Tables)	3 Months Ended
	Mar. 31, 2016
Net Investment in Finance Lease [Abstract]
Net Investment in Finance Leases	Net investment in finance leases consisted of the following: March 31, December 31, 2016 2015 Minimum rents receivable $ 70,714,048 $ 73,186,778 Estimated unguranteed residual values 2,127,162 2,127,162 Initial direct costs 975,934 1,066,616 Unearned income (15,239,861) (16,697,150) Net investment in finance leases $ 58,577,283 $ 59,683,406

Investment in Joint Ventures (T

Investment in Joint Ventures (Table)	3 Months Ended
	Mar. 31, 2016
Investments in Joint Ventures [Abstract]
Investments in Joint Ventures	Three Months Ended March 31, 2016 2015 Revenue $ - $ 1,152,580 Net income $ - $ 1,142,854 Our share of net income $ - $ 439,979

Non-Recourse Long-Term Debt (Ta

Non-Recourse Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Non-Recourse Long-Term Debt [Abstract]
Schedule Of Debt Instruments	As of March 31, 2016 and December 31, 2015 , we had the following non-recourse long-term debt : Counterparty March 31, 2016 December 31, 2015 Maturity Rate ABN AMRO, Rabobank, NIBC $ 91,000,000 $ 45,500,000 2020 4.117%* DVB Bank America N.V. 38,645,833 39,750,000 2020 4.60% DBS Bank (Taiwan) Ltd. 31,408,209 37,501,639 2016 2.55-6.51% NIBC Bank N.V. 17,745,000 18,200,000 2018 LIBOR + 3.75% DVB Bank SE 8,125,000 8,750,000 2019 4.997% 186,924,042 149,701,639 Less: debt issuance costs 2,496,591 1,678,576 Total non-recourse long-term debt $ 184,427,451 $ 148,023,063 * The interest rate was fixed after giving effect to the interest rate swaps entered into on February 8, 2016 (see below).

Transactions with Related Par27

Transactions with Related Parties (Tables)	3 Months Ended
	Mar. 31, 2016
Transactions with Related Parties [Abstract]
Fees and Expenses Paid or Accrued	Fees and other expenses incurred by us to our General Partner or its affiliates were as follows: Three Months Ended March 31, Entity Capacity Description 2016 2015 ICON Capital, LLC Investment Manager Management fees (1) $ 285,922 $ 398,164 Administrative expense ICON Capital, LLC Investment Manager reimbursements (1) 330,562 402,887 Fund Fourteen Noncontrolling interest Interest expense (1) 102,369 101,162 $ 718,853 $ 902,213 (1) Amount charged directly to operations.

Derivative Financial Instrume28

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	We had no derivative financial instruments as of December 31, 2015. The table below presents the fair value of our derivative financial instruments as well as their classification within our consolidated balance sheets as of March 31, 2016 . Liability Derivatives March 31, 2016 Balance Sheet Location Fair Value Derivatives not designated as hedging instruments: Interest rate swaps Derivative financial instruments $ 211,020

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Measurements [Abstract]
Valuation Of Financial Liabilities Measured at Fair Value on Recurring Basis	The following table summarizes the v aluation of our financial liabilities measured at fair value on a recurring basis as of March 31, 2016: Level 1 Level 2 Level 3 Total Liabilities: Interest rate swaps $ - $ 211,020 $ - $ 211,020
Fair Value, By Balance Sheet Grouping [Table Text Block]	March 31, 2016 Carrying Fair Value Amount (Level 3) Principal outstanding on fixed-rate notes receivable $ 28,622,462 $ 30,099,166 Principal outstanding on fixed-rate non-recourse long-term debt $ 171,787,188 $ 171,973,932 Seller's credits $ 20,569,426 $ 20,818,322

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Accounting Policies [Line Items]
Other Assets	$ 5,117,434	$ 7,332,096
Non-recourse long-term debt, net	$ 184,427,451	148,023,063
Period when notes receivable are placed in nonaccrual status	90 days
Days outstanding	90 days
As Reported [Member]
Accounting Policies [Line Items]
Other Assets		9,010,672
Non-recourse long-term debt, net		$ 149,701,639

Net Investment in Notes Recei31

Net Investment in Notes Receivable (Narrative) (Details) - USD ($)		3 Months Ended	12 Months Ended
		Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Losses	[1]	$ 5,397,913	$ 5,397,913
Notes Receivable Net	[2]	29,459,774	30,013,756
TMA [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes Receivable Net		3,500,490	3,500,490
Financing Receivable Unpaid		589,589	461,211
Financing Receivable Recorded Investment 90 Days Past Due And Still Accruing		754,264	522,913
Ensaimada [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired Financing Receivable Unpaid Principal Balance		5,178,776	5,178,776
Financing Receivable, Allowance for Credit Losses		5,397,913	5,397,913
Finance Income		$ 0	$ 186,374
[1]	(2) As of March 31, 2016 and December 31, 2015, the credit loss reserve of $5,397,913 was related to Ensaimada.
[2]	(3) As of March 31, 2016 and December 31, 2015, net investment in note receivable related to our impaired loan was $0.

Net Investment in Notes Recei32

Net Investment in Notes Receivable (Reconciliation) (Details) - USD ($)		Mar. 31, 2016	Dec. 31, 2015
Schedule of Notes Receivable [Abstract]
Principal outstanding	[1]	$ 33,801,238	$ 34,214,368
Initial direct costs		1,348,933	1,519,922
Deferred fees		(292,484)	(322,621)
Credit loss reserve	[2]	(5,397,913)	(5,397,913)
Net investment in notes receivable	[3]	$ 29,459,774	$ 30,013,756
[1]	(1) As of March 31, 2016 and December 31, 2015, total principal outstanding related to our impaired loan of $5,178,776 was related to Ensaimada.
[2]	(2) As of March 31, 2016 and December 31, 2015, the credit loss reserve of $5,397,913 was related to Ensaimada.
[3]	(3) As of March 31, 2016 and December 31, 2015, net investment in note receivable related to our impaired loan was $0.

Net Investment in Notes Recei33

Net Investment in Notes Receivable (Credit Loss Allowance) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit loss, Beginning of Year	$ 5,397,913	$ 631,986
Provisions	0	362,666
Write-offs, net of recoveries	0	0
Allowance for credit loss, End of Year	$ 5,397,913	$ 994,652

Leased Equipment at Cost (Detai

Leased Equipment at Cost (Details) - USD ($)	Jan. 08, 2016	Dec. 23, 2015	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Feb. 08, 2016
Property, Plant and Equipment [Line Items]
Leased equipment at cost			$ 286,130,194		$ 223,837,311
Less: accumulated depreciation			48,829,903		40,253,258
Leased equipment at cost, less accumulated depreciation			237,300,291		183,584,053
Depreciation			8,576,645	$ 8,078,356
Equipment Purchased		$ 130,000,000
Lease Term Period		12 years
Debt Instrument Interest Rate Effective Percentage	4.117%
Fugro Voyager [Member]
Property, Plant and Equipment [Line Items]
Purchase price of equipment	$ 8,250,000
Equipment Purchase Funded With Non Recourse Long Term Debt	45,500,000
Advances To Charter Hire Payment	$ 11,250,000
Payments To Acquire Productive Assets					10,221,000
Debt Instrument Interest Rate Effective Percentage						4.117%
Fugro Scout [Member]
Property, Plant and Equipment [Line Items]
Purchase price of equipment		$ 8,250,000
Equipment Purchase Funded With Non Recourse Long Term Debt		45,500,000
Advances To Charter Hire Payment		$ 11,250,000
Icon Eci Fund Sixteen Lp [Member]
Property, Plant and Equipment [Line Items]
Ownership Percentage (In Hundredths)		10.00%
ICON ECI Fund Fifteen, LP [Member]
Property, Plant and Equipment [Line Items]
Ownership Percentage (In Hundredths)		75.00%
ICON Equipment and Corporate Infrastructure Fund Fourteen, L.P. [Member]
Property, Plant and Equipment [Line Items]
Ownership Percentage (In Hundredths)		15.00%
Marine Vessels [Member]
Property, Plant and Equipment [Line Items]
Leased equipment at cost			81,651,931		81,651,931
Photolithograph Immersion Scanner [Member]
Property, Plant and Equipment [Line Items]
Leased equipment at cost			79,905,122		79,905,122
Geotechnical drilling vessel [Member]
Property, Plant and Equipment [Line Items]
Leased equipment at cost			$ 124,573,141		$ 62,280,258

Net Investment in Finance Lea35

Net Investment in Finance Lease (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Capital Leased Assets [Line Items]
Minimum rents receivable	$ 70,714,048	$ 73,186,778
Estimated unguranteed residual values	2,127,162	2,127,162
Initial direct costs	975,934	1,066,616
Unearned income	(15,239,861)	(16,697,150)
Net investment in finance leases	$ 58,577,283	$ 59,683,406

Investment in Joint Ventures (N

Investment in Joint Ventures (Narrative) (Details) - USD ($)		Jan. 15, 2016	May. 15, 2013	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]
Finance income				$ 2,275,931	$ 3,266,323
Net investment in notes receivable	[1]			29,459,774		$ 30,013,756
Investment in joint ventures				11,268,274		13,209,019
Jurong Aromatics Corporation [Member]
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]
Subordinated loan			$ 208,038,290
Subordinated credit facility acquired			28,462,500
Finance income				0	$ 1,152,580
Net investment in notes receivable				5,365,776		5,365,776
Investment in joint ventures				$ 2,152,337		2,152,337
Payments To Acquire Interest In Joint Venture			$ 12,296,208
Jurong Aromatics Corporation [Member] | Minimum [Member]
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]
Original interest rate			12.50%
Interest rate including default interest				12.50%
Jurong Aromatics Corporation [Member] | Maximum [Member]
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]
Original interest rate			15.00%
Interest rate including default interest				15.50%
Dt Holdings [Member]
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]
Our share of joint venture net income		$ 385,000
Finance income		1,400,000
Prepayment Of Lease Obligation		8,000,000
Option To Repurchase All Assets		$ 1
ICON Leasing Fund Eleven, LLC [Member] | Jurong Aromatics Corporation [Member]
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]
Joint venture, ownership percentage (in hundredths)			39.00%
ICON ECI Fund Fifteen, LP [Member]
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]
Joint venture, ownership percentage (in hundredths)				75.00%
ICON ECI Fund Fifteen, LP [Member] | Jurong Aromatics Corporation [Member]
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]
Our share of joint venture net income						12,879,462
Joint venture, ownership percentage (in hundredths)			40.00%
Provision For Loan Lease And Other Losses						$ 31,637,426
ICON Leasing Fund Twelve, LLC [Member] | Jurong Aromatics Corporation [Member]
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]
Joint venture, ownership percentage (in hundredths)			21.00%
[1]	(3) As of March 31, 2016 and December 31, 2015, net investment in note receivable related to our impaired loan was $0.

Investment in Joint Ventures (D

Investment in Joint Ventures (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Schedule of Equity Method Investments [Line Items]
Our share of net income	$ 664,898	$ 656,006
Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Revenue	0	1,152,580
Net income	0	1,142,854
Our share of net income	$ 0	$ 439,979

Non-Recourse Long-Term Debt (Na

Non-Recourse Long-Term Debt (Narrative) (Details) - USD ($)	Jan. 08, 2016	Dec. 23, 2015	Mar. 31, 2016	Feb. 08, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Non Recourse Debt			$ 184,427,451		$ 148,023,063
Carrying Value Of Underlying Assets Securing Non Recourse Debt			$ 281,677,552		$ 228,696,073
Debt Instrument Interest Rate Effective Percentage	4.117%
Icon Eci Fund Sixteen Lp [Member]
Debt Instrument [Line Items]
Joint Venture, Ownership Percentage			10.00%
ICON ECI Fund Fifteen, LP [Member]
Debt Instrument [Line Items]
Joint Venture, Ownership Percentage			75.00%
ICON ECI Fund Fourteen LP [Member]
Debt Instrument [Line Items]
Joint Venture, Ownership Percentage			15.00%
Fugro Scout [Member]
Debt Instrument [Line Items]
Loan Facility,Drawn Down Amount		$ 45,000,000
Fugro Voyager [Member]
Debt Instrument [Line Items]
Debt Instrument Interest Rate Effective Percentage				4.117%
Debt Instrument Interest Rate Basis For Effective Rate	2.95
Loan Facility,Drawn Down Amount	$ 45,000,000
Fugro Vessels [Member]
Debt Instrument [Line Items]
Non Recourse Debt			$ 91,000,000

Non-Recourse Long-Term Debt (No

Non-Recourse Long-Term Debt (Non-recourse long-term debt) (Details) - USD ($)		3 Months Ended
		Mar. 31, 2016	Jan. 08, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Debt Instrument Interest Rate Effective Percentage			4.117%
Total non-recourse long-term debt		$ 186,924,042		$ 149,701,639
Less: debt issuance costs		2,496,591		1,678,576
Total non-recourse long-term debt, net		$ 184,427,451		148,023,063
ABN AMRO, Rabobank, NIBC [Member]
Debt Instrument [Line Items]
Debt Instrument Maturity Year		2,020
Debt Instrument Interest Rate Basis For Effective Rate	[1]	4.117%*
Total non-recourse long-term debt		$ 91,000,000		45,500,000
DVB Bank America N.V [Member]
Debt Instrument [Line Items]
Debt Instrument Maturity Year		2,020
Debt Instrument Interest Rate Basis For Effective Rate		4.60%
Total non-recourse long-term debt		$ 38,645,833		39,750,000
DBS Bank (Taiwan) Ltd [Member]
Debt Instrument [Line Items]
Debt Instrument Maturity Year		2,016
Debt Instrument Interest Rate Basis For Effective Rate		2.55-6.51%
Total non-recourse long-term debt		$ 31,408,209		37,501,639
NIBC Bank N.V [Member]
Debt Instrument [Line Items]
Debt Instrument Maturity Year		2,018
Debt Instrument Interest Rate Basis For Effective Rate		LIBOR + 3.75%
Total non-recourse long-term debt		$ 17,745,000		18,200,000
DVB Bank SE [Member]
Debt Instrument [Line Items]
Debt Instrument Maturity Year		2,019
Debt Instrument Interest Rate Basis For Effective Rate		4.997%
Total non-recourse long-term debt		$ 8,125,000		$ 8,750,000
[1]	The interest rate was fixed after giving effect to the interest rate swaps entered into on February 8, 2016 (see below).

Revolving Line of Credit, Rec40

Revolving Line of Credit, Recourse (Narrative) (Details)	3 Months Ended
	Mar. 31, 2016USD ($)F15numberofadvances
Line of Credit Facility [Line Items]
Maximum Borrowing Capacity	$ 12,500,000
Line of Credit Facility, Expiration Date	May 30, 2017
Debt Financing Cost	$ 47,500
Number of separate non-prime rate advances | F15numberofadvances	5
Basis Spread (In Hundredths)	2.50%
Interest Rate Floor (In Hundredths)	4.00%
Commitment Fee (In Hundredths)	0.50%
Remaining Borrowing Capacity	$ 8,422,617

Transactions with Related Par41

Transactions with Related Parties (Narrative) (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Related Party Transaction [Line Items]
Partners' Capital Account, Distributions	$ 4,340,102
Net income (loss) allocated to General Partner	22,466	$ 18,622
Due to General Partner and affiliates, net	2,982,580		$ 5,682,643
General Partner [Member]
Related Party Transaction [Line Items]
Partners' Capital Account, Distributions	39,695	39,330
Net income (loss) allocated to General Partner	22,466	$ 18,622
Due to General Partner and affiliates, net	2,982,580		5,682,643
Notes Payable	2,608,146		2,614,691
Accrued Interest	30,320		30,396
Adminsitrative Expense Reimbursements	$ 330,562		519,380
Acquisition Fees			$ 2,437,500

Transcations with Related Parti

Transcations with Related Parties (Details) - USD ($)		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Fees And Expenses Paid Or Accrued [Abstract]
Management fees		$ 285,922	$ 398,164
Interest expense		2,483,322	1,728,112
Total		718,853	902,213
ICON Capital, LLC [Member]
Fees And Expenses Paid Or Accrued [Abstract]
Management fees	[1]	285,922	398,164
Administrative expense reimbursements	[1]	330,562	402,887
Icon ECI Fund Fourteen Lp [Member]
Fees And Expenses Paid Or Accrued [Abstract]
Interest expense	[1]	$ 102,369	$ 101,162
[1]	Amount charged directly to operations.

Derivative Financial Instrume43

Derivative Financial Instruments (Narrative) (Details)	Mar. 31, 2016USD ($)
Derivative [Line Items]
Derivative Notional Amount	$ 89,104,166
Termination Value Of Derivatives InLiability Posistion	$ 270,578

Derivative Financial Instrume44

Derivative Financial Instruments (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative financial instruments	$ 211,020	$ 0
Interest Rate Swap [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative financial instruments	211,020
Interest Rate Swap [Member] | Non designated [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative financial instruments	$ 211,020

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Fair Value Inputs Assets Quantitative Information [Line Items]
Seller's credit	$ 20,569,426	$ 13,437,087
Minimum [Member] | Fixed Rate Notes Receivable [Member]
Fair Value Inputs Assets Quantitative Information [Line Items]
Discount rate on fixed notes receivable (in hundredths)	10.20%
Minimum [Member] | Fixed Rate Non Recourse Long Term Debt And Sellers Credit [Member]
Fair Value Inputs Assets Quantitative Information [Line Items]
Discount rate on fixed notes receivable (in hundredths)	3.89%
Maximum [Member] | Fixed Rate Notes Receivable [Member]
Fair Value Inputs Assets Quantitative Information [Line Items]
Discount rate on fixed notes receivable (in hundredths)	25.00%
Maximum [Member] | Fixed Rate Non Recourse Long Term Debt And Sellers Credit [Member]
Fair Value Inputs Assets Quantitative Information [Line Items]
Discount rate on fixed notes receivable (in hundredths)	5.30%

Fair Value Measurements (Liabil

Fair Value Measurements (Liabilities) (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative Liabilities	$ 211,020	$ 0
Interest Rate Swap [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative Liabilities	211,020
Interest Rate Swap [Member] | Level 1 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative Liabilities	0
Interest Rate Swap [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative Liabilities	211,020
Interest Rate Swap [Member] | Level 3 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative Liabilities	$ 0

Fair Value Measurements (Carryi

Fair Value Measurements (Carrying vs Fair) (Details)	Mar. 31, 2016USD ($)
Fair Value [Member]
Financial Instruments Financial Assets Balance Sheet Groupings [Abstract]
Principal outstanding on fixed-rate notes receivable	$ 30,099,166.49
Principal outstanding on fixed-rate non-recourse long-term debt	171,973,932
Seller's credits	20,818,321.68
Carrying Value [Member]
Financial Instruments Financial Assets Balance Sheet Groupings [Abstract]
Principal outstanding on fixed-rate notes receivable	28,622,462
Principal outstanding on fixed-rate non-recourse long-term debt	171,787,188
Seller's credits	$ 20,569,426

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details)	Mar. 31, 2016USD ($)
Commitments and Contingencies [Abstract]
Restricted Cash	$ 3,358,901

Subsequent Event (Narrative) (D

Subsequent Event (Narrative) (Details)	Apr. 05, 2016USD ($)
Subsequent Event [Member] | Ardmore Shipholding Limited [Member]
Subsequent Event [Line Items]
Purchase price of equipment	$ 26,990,000