ICON ECI Fund Sixteen 10-Q 8 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	3 Months Ended
	Mar. 31, 2015	5-May-15
Class of Shares [Line Items]
Entity Registrant Name	ICON ECI Fund Sixteen
Entity Central Index Key	1561679
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE
Document Type	10-Q
Document Period End Date	31-Mar-15
Entity public float	$0
Common Class A [Member]
Class of Shares [Line Items]
Entity Common Stock, Shares Outstanding		17,189
Common Class I [Member]
Class of Shares [Line Items]
Entity Common Stock, Shares Outstanding		410

Consolidated_Balance_Sheets_un

Consolidated Balance Sheets (unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Assets
Cash	$4,928,443	$4,249,074
Net investment in notes receivable	2,637,317	2,643,487
Net investment in finance leases	8,908,560	9,594,485
Investment in joint ventures	3,511,802	4,094,120
Other assets	105,279	15,515
Total assets	20,091,401	20,596,681
Liabilities:
Accrued expenses and other liabilities	615,615	580,337
Total liabilities	1,682,375	1,525,523
Class of Shares [Line Items]
Total shareholders' capital	14,159,799	14,482,488
Minority Interest	4,249,227	4,588,670
Total equity	18,409,026	19,071,158
Total liabilities and equity	20,091,401	20,596,681
Total Class A [Member]
Class of Shares [Line Items]
Common stock value	13,828,613	14,143,865
Class I
Class of Shares [Line Items]
Common stock value	$331,186	$338,623

Consolidated_Statement_of_Oper

Consolidated Statement of Operations (unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenue:
Finance income	$295,404	$0
Income from investment in joint ventures	48,345	65,231
Other Income	0	0
Total revenue	343,749	65,231
Expenses:
Management fees	41,060	12,286
Administrative expense reimbursements	122,855	175,593
General and administrative	43,425	54,823
Interest	7,945	4,165
Organization costs	0	3,173
Total expenses	215,285	250,040
Net income (loss)	128,464	-184,809
Less: net income attributable to noncontrolling interests	104,557	0
Net loss attributable to Fund Sixteen	23,907	-184,809
Net loss attributable to Fund Sixteen allocable to:
Additional Class A and I shareholders	23,668	-182,961
Managing Owner	239	-1,848
Net loss attributable to Fund Sixteen	23,907	-184,809
Net Income Loss Attributable To Additional Class A Shareholders	23,019	-180,661
Weighted average number of Class A shares outstanding	17,189	5,053
Net loss attributable to Fund Sixteen per weighted average additional Class A share	$1.34	($35.76)
Net Income Loss Attributable To Additional Class I Shareholders	$649	($2,300)
Weighted average number of Class I shares outstanding	410	65
Net loss attributable to Fund Sixteen per weighted average Class I share	$1.58	($35.65)

Consolidated_Statement_of_Chan

Consolidated Statement of Changes in Equity (USD $)	Total	Managing Owner	Additional Class A Shareholders	Total Class A [Member]	Class I Additional Shareholders	Noncontrolling Interests [Member]
Balance at Dec. 31, 2014	$19,071,158	($12,729)	$14,156,594	$14,143,865	$338,623	$4,588,670
Balance (in shares) at Dec. 31, 2014	17,599	0.001	17,189	17,189	410
Increase (decrease) in equity [Roll Forward]
Net loss	128,464	239	23,019	23,258	649	104,557
Distributions	-790,596	-3,466	-335,044	-338,510	-8,086	-444,000
Balance (unaudited) at Mar. 31, 2015	$18,409,026	($15,956)	$13,844,569	$13,828,613	$331,186	$4,249,227
Balance (unaudited) (in shares) at Mar. 31, 2015	17,599	0.001	17,189	17,189	410

Consolidated_Statement_of_Cash

Consolidated Statement of Cash Flows (unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net loss	$128,464	($184,809)
Adjustments to reconcile net loss to net cash used in operating activities:
Finance income	20,278	0
Income from investment in joint ventures	-48,345	-65,231
Interest expense from amortization of debt financing costs	3,709	3,650
Interest expense, other	4,236	515
Changes in operating assets and liabilities:
Other assets	-93,473	0
Due to Investment Manager and affiliates	121,574	226,442
Accrued expenses and other liabilities	31,042	7,946
Distributions from joint ventures	85,550	45,614
Net cash provided by operating activities	253,035	34,127
Cash flows from investing activities:
Principal received on finance lease	671,817	0
Investment in joint venture	0	-4,904,295
Distributions received from joint venture in excess of profit	545,113	247,794
Payments To Acquire Machinery And Equipment	0
Payments To Acquire Notes Receivable	0
Net cash used in investing activities	1,216,930	-4,656,501
Cash flows from financing activities:
Sale of Class A and Class I shares	0	5,968,452
Sales and offering expenses paid	0	-383,902
Distributions to noncontrolling interests	-444,000	0
Distributions to shareholders	-346,596	-62,134
Net cash provided by financing activities	-790,596	5,522,416
Net increase in cash	679,369	900,042
Cash, beginning of period	4,249,074	1,027,327
Cash, end of period	4,928,443	1,927,369
Supplemental disclosure of non-cash investing and financing activities:
Offering expenses payable to Investment Manager charged to equity	0	55,919
Sales commission trial payable to third parties	0	148,889
Acquisition fee payable to Investment Manager	0	101,524
Distribution payable to Managing Owner	$0	$288

Organization

Organization	3 Months Ended
	Mar. 31, 2015
Organization [Abstract]
Organization	(1) Organization
	ICON ECI Fund Sixteen (the “Fund”) was formed on October 11, 2012 as a Delaware statutory trust. When used in these notes to consolidated financial statements, the terms “we,” “us,” “our” or similar terms refer to the Fund and its consolidated subsidiaries.
	We are a direct financing fund that primarily makes investments in or that are collateralized by equipment and other corporate infrastructure (collectively, “Capital Assets”). The investments are in companies that utilize Capital Assets to operate their businesses. These investments are primarily structured as debt and debt-like financings such as loans, leases and other structured financing transactions in or that are collateralized by Capital Assets that ICON MT 16, LLC, a Delaware limited liability company and our managing owner (the “Managing Owner”), believes will provide us with a satisfactory, risk-adjusted rate of return. Our Managing Owner makes investment decisions on our behalf and manages our business.
	Our investment objectives are to preserve investors’ capital, provide distributions and provide a favorable total return. To meet our investment objectives, we have used the net proceeds from our offering and will use the cash generated from our investments to originate or acquire a diverse pool of investments described above, as well as other strategic investments collateralized by Capital Assets. ICON Capital, LLC, a Delaware limited liability company and our affiliate, is our investment manager (the “Investment Manager”). Our Investment Manager originates and services our investments. Wilmington Trust, National Association (the “Trustee”) serves as our sole trustee pursuant to our Third Amended and Restated Trust Agreement (the “Trust Agreement”). The Trustee delegated to our Managing Owner all of the power and authority to manage our business and affairs and has only nominal duties and liabilities to us.
	Our offering period commenced on July 1, 2013 and ended on December 31, 2014. Our Managing Owner determined to cease our offering period earlier than originally anticipated as a result of lower than expected offering proceeds being raised. Our operating period commenced on January 1, 2015. We offered to sell to the public any combination of two classes of shares, Class A shares and Class I shares (collectively, the “Shares”), on a “best efforts” basis with the intention of raising up to $250,000,000 of capital, of which $9,000,000 had been reserved for issuance pursuant to our distribution reinvestment plan (the “DRIP”). Other than differing allocable fees and expenses, Class A shares and Class I shares have identical rights and privileges, such as identical voting and distribution rights. We reserved the right to reallocate the offering amount between the primary offering and the DRIP.
	As of November 12, 2013 (the “Initial Closing Date”), we raised a minimum of $1,200,000 from the sale of our Shares, at which time shareholders were admitted and we commenced operations. As of June 13, 2014, we raised the $12,500,000 minimum offering amount for the Commonwealth of Pennsylvania. Subsequent to the Initial Closing Date, we returned the initial capital contribution of $1,000 to ICON Investment Group, LLC (the “Initial Shareholder”). From the commencement of our offering on July 1, 2013 through December 31, 2014, we sold 17,189 Class A shares to 351 Class A shareholders and 410 Class I shares to six Class I shareholders, of which 404 Class A shares and 12 Class I shares were issued pursuant to the DRIP, representing an aggregate of $17,469,610 of capital contributions.  From the Initial Closing Date through December 31, 2014, we incurred sales commissions to third parties of $1,198,531 and dealer-manager and distribution fees of $347,547 to CĪON Securities, LLC, formerly known as ICON Securities, LLC, the dealer-manager of our offering and an affiliate of our Investment Manager (“CĪON Securities”). In addition, organization costs of $8,418 and offering expenses of $161,422 were incurred by us during such period. Organization costs were expensed when incurred and offering expenses were recorded as a reduction of shareholders’ equity.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
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 for Quarterly Reports on Form 10-Q. In the opinion of our Managing Owner, all adjustments, which are of a normal recurring nature, 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 December 31, 2014. The results for the interim period are not necessarily indicative of the results for the full year.
	Credit Quality of Notes Receivable and Finance Leases and Credit Loss Reserve
	Our Investment Manager monitors the ongoing credit quality of our financing 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 relevant 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 current 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 experiences 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 published guides or market sales data, internally derived fair value. Material events would be specifically disclosed in the discussion of each financing receivable held.
	Financing receivables are generally placed in 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 in a non-accrual 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 financing receivables is not in doubt, interest income is recognized on a cash basis. Financing receivables in non-accrual status may not be restored to accrual status until all delinquent payments have been received, and we believe recovery of the remaining 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 reserve 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 financing receivable in the period that it is deemed uncollectible by reducing the credit loss reserve and the balance of the financing receivable.
	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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. The adoption of ASU 2014-09 becomes effective for us on January 1, 2017, including interim periods within that reporting period. Early adoption is not permitted.  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 doubt 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 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 2015, FASB issued ASU No. 2015-01, Income Statement – Extraordinary and Unusual Items (“ASU 2015-01”), which simplifies income statement presentation by eliminating the concept of extraordinary items. The adoption of ASU 2015-01 becomes effective for us on January 1, 2016, including interim periods within that reporting period. Early adoption is permitted. The adoption of ASU 2015-01 is not expected to have a material effect on our consolidated financial statements.
	In February 2015, FASB issued 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. The adoption of ASU 2015-02 becomes effective for us on January 1, 2016. Early adoption is permitted. We are currently in the process of evaluating the impact of the adoption of ASU 2015-02 on our consolidated financial statements.
	In April 2015, FASB issued ASU No. 2015-03, Interest – Imputation of Interest (“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 debt discounts. ASU 2015-03 will be applied on a retrospective basis. The adoption of ASU 2015-03 becomes effective for us on January 1, 2016, including interim periods within that reporting period. Early adoption is permitted. We are currently in the process of evaluating the impact of the adoption of ASU 2015-03 on our consolidated financial statements.

Net_Investment_in_Notes_Receiv

Net Investment in Notes Receivable	3 Months Ended
	Mar. 31, 2015
Notes Receivable [Abstract]
Notes And Other Receivables Disclosure	(3) Net Investment in Note Receivable
	Net investment in note receivable consisted of the following:
			31-Mar-15		31-Dec-14
		Principal outstanding	$	2,500,000	$	2,500,000
		Initial direct costs		183,006		191,229
		Deferred fees		-45,689		-47,742
		Net investment in note receivable	$	2,637,317	$	2,643,487
	Assets for which Fair Value is Disclosed
	Certain of our financial assets, which include a fixed-rate note receivable, for which fair value is required to be disclosed, was valued using inputs that are generally unobservable and are supported by little or no market data and is therefore classified within Level 3. Under U.S. GAAP, we use projected cash flows for fair value measurements of this financial asset. Fair value information with respect to certain of our other assets is not separately provided since (i) U.S. GAAP does not require fair value disclosures of lease arrangements and (ii) the carrying value of financial assets and liabilities, other than lease-related investments, approximates fair value due to their short-term maturities.
	The estimated fair value of our fixed-rate note receivable was based on the discounted value of future cash flows related to the loan at inception, adjusted for changes in certain variables, including, but not limited to, credit quality, industry, financial markets and other recent comparables. Principal outstanding on the fixed-rate note receivable was discounted at a rate of 10.68% per year as of March 31, 2015. As of March 31, 2015, the fair value of the fixed-rate note receivable was estimated to be $2,550,000.

Net_Investment_in_Finance_Leas

Net Investment in Finance Lease	3 Months Ended
	Mar. 31, 2015
Net Investment in Finance Lease [Abstract]
Net Investment in Finance Leases	(4) Net Investment in Finance Lease
	Net investment in finance lease consisted of the following:
			31-Mar-15		31-Dec-14
		Minimum rents receivable	$	8,633,327	$	9,558,326
		Estimated unguaranteed residual value		1,600,345		1,600,345
		Initial direct costs		161,786		189,202
		Unearned income		-1,486,898		-1,753,388
		Net investment in finance lease	$	8,908,560	$	9,594,485

Investment_in_Joint_Ventures

Investment in Joint Ventures	3 Months Ended
	Mar. 31, 2015
Investment in Joint Ventures
Investment in Joint Ventures	(5) Investment in Joint Ventures
	As of March 31, 2015 and December 31, 2014, we had investments in three joint ventures, which are accounted for under the equity method of accounting.
	Information as to the results of operations of ICON Murray VI, LLC (“ICON Murray VI”) is summarized as follows:
			Three Months Ended March 31,
			2015		2014
		Revenue	$	1,906,537	$	1,906,537
		Net (loss) income	$	-152,379	$	331,198
		Our share of net (loss) income	$	-37,205	$	45,614
	Information as to the results of operations of ICON Blackhawk, LLC is summarized as follows:
			Three Months Ended March 31,
			2015		2014
		Revenue	$	706,896	$	231,913
		Net income	$	446,084	$	177,977
		Our share of net income	$	45,190	$	17,985
	Information as to the results of operations of ICON 1845, LLC is summarized as follows:
			Three Months Ended March 31,
			2015		2014
		Revenue	$	397,195	$	13,788
		Net income	$	320,279	$	12,957
		Our share of net income	$	40,360	$	1,631

Revolving_Line_of_Credit_Recou

Revolving Line of Credit, Recourse	3 Months Ended
	Mar. 31, 2015
Revolving Line of Credit, Recourse [Abstract]
Revolving Line of Credit, Recourse	(6) Revolving Line of Credit, Recourse
	On March 31, 2015, we extended our revolving line of credit of up to $5,000,000 (the “Facility”) with California Bank & Trust (“CB&T”) through May 30, 2017. As part of such extension, we paid debt financing costs of $19,000. The Facility 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 beneficial 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 the London Interbank Offered Rate (“LIBOR”) plus 2.5% per year. In all instances, 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, 2015, there were no obligations outstanding under the Facility and we were in compliance with all covenants related to the Facility.
	At March 31, 2015, we had $1,553,019 available under the Facility pursuant to the borrowing base.

Transactions_with_Related_Part

Transactions with Related Parties	3 Months Ended
	Mar. 31, 2015
Transactions with Related Parties [Abstract]
Transactions with Related Parties	(7) Transactions with Related Parties
	We have entered into certain agreements with our Investment Manager and CĪON Securities whereby we paid or pay certain fees and reimbursements to these parties. We paid or pay CĪON Securities (i) a dealer-manager fee for Class A shares sold in the offering equal to 2% of gross offering proceeds from sales of such Class A shares for managing the offering and to reimburse the dealer-manager for wholesaling fees and expenses and (ii) a distribution fee equal to 0.55% of gross offering proceeds from Class I shares sold in the offering for managing the distribution of the Class I shares. We will continue to pay the distribution fee with respect to the Class I shares sold in the offering until the earlier to occur of: (i) total distribution fees paid with respect to the Class I shares following the completion of the offering equaling 10% of the gross proceeds received with respect to the issuance of such shares from the primary portion of the offering or (ii) our entry into our wind down period. The distribution fee is paid monthly in arrears. No dealer-manager or distribution fees were or will be paid on any Shares sold pursuant to the DRIP.
	Our Managing Owner also has a 1% interest in our profits, losses, distributions and liquidation proceeds, subject to increase based on our investors achieving a preferred return. In addition, our Investment Manager and its affiliates were reimbursed for a portion of the organization and offering expenses incurred in connection with our organization and offering of Shares and will be reimbursed for administrative expenses incurred in connection with our operations. The reimbursement of organization and offering expenses was capped at the lesser of 1.44% of the maximum primary offering amount of $241,000,000 and the actual costs and expenses incurred by our Investment Manager and its affiliates. Through the end of our offering period, our Investment Manager and its affiliates incurred, on our behalf, organization and offering expenses of $1,759,237, of which our Investment Manager and its affiliates determined only to seek reimbursement of $239,758. As of March 31, 2015 and December 31, 2014, $52,144 of such amount is included in due to Investment Manager and affiliates on our consolidated balance sheets.
	We pay our Investment Manager (i) a management fee of 3.50% of the gross periodic payments due and paid from our investments and (ii) acquisition fees of 2.50% of the total purchase price (including indebtedness incurred or assumed therewith) of, or the value of the Capital Assets secured by or subject to, each of our investments.
	Administrative expense reimbursements are costs incurred by our Investment Manager or its affiliates that are necessary to our operations. These costs include our Investment Manager’s and its affiliates’ legal, accounting, investor relations and operations personnel, as well as professional fees and other costs that are charged to us. Excluded are salaries and related costs, office rent, travel expenses and other administrative costs incurred by individuals with a controlling interest in our Investment Manager.
	We paid distributions to our Managing Owner of $3,466 and $625 for the three months ended March 31, 2015 and 2014, respectively. Additionally, our Managing Owner’s interest in the net income (loss) attributable to us was $239 and $(1,848) for the three months ended March 31, 2015 and 2014, respectively.
	Fees and other expenses incurred by us to our Investment Manager or its affiliates were as follows:
						Three Months Ended March 31,
		Entity	Capacity	Description		2015		2014
		ICON Capital, LLC	Investment Manager	Offering expense
					reimbursements (1)	$	-	$	55,919
		ICON Capital, LLC	Investment Manager	Organization cost
					reimbursements (2)		-		3,173
		ICON Capital, LLC	Investment Manager	General and administrative
					reimbursements (2)		-		34,393
		ICON Capital, LLC	Investment Manager	Management fees (2)			41,060		12,286
		CĪON Securities, LLC	Dealer-manager	Dealer-manager and
					distribution fees (1)		-		118,767
		ICON Capital, LLC	Investment Manager	Administrative expense
					reimbursements (2)		122,855		175,593
		ICON Capital, LLC	Investment Manager	Acquisition fees (3)			-		101,524
						$	163,915	$	501,655
		(1)  Amount charged directly to shareholders' equity.
		(2)  Amount charged directly to operations.
		(3)  Amount capitalized and amortized to operations.
	At March 31, 2015, we had a net payable of $1,066,760 due to our Investment Manager and affiliates that primarily consisted of administrative expense reimbursements of approximately $772,000, management fees of approximately $105,000 and acquisition fees of approximately $102,000. At December 31, 2014, we had a net payable of $945,186 due to our Investment Manager and affiliates that primarily consisted of administrative expense reimbursements of approximately $649,000, management fees of approximately $105,000 and acquisition fees of approximately $102,000

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies [Abstract]
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 Managing Owner 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 condition or results of operations taken as a whole.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
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 for Quarterly Reports on Form 10-Q. In the opinion of our Managing Owner, all adjustments, which are of a normal recurring nature, 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 December 31, 2014. The results for the interim period are not necessarily indicative of the results for the full year.
Credit Quality of Notes Receivable and Finance Leases and Credit Loss Reserve	Credit Quality of Notes Receivable and Finance Leases and Credit Loss Reserve
	Our Investment Manager monitors the ongoing credit quality of our financing 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 relevant 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 current 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 experiences 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 published guides or market sales data, internally derived fair value. Material events would be specifically disclosed in the discussion of each financing receivable held.
	Financing receivables are generally placed in 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 in a non-accrual 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 financing receivables is not in doubt, interest income is recognized on a cash basis. Financing receivables in non-accrual status may not be restored to accrual status until all delinquent payments have been received, and we believe recovery of the remaining 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 reserve 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 financing 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	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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. The adoption of ASU 2014-09 becomes effective for us on January 1, 2017, including interim periods within that reporting period. Early adoption is not permitted.  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 doubt 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 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 2015, FASB issued ASU No. 2015-01, Income Statement – Extraordinary and Unusual Items (“ASU 2015-01”), which simplifies income statement presentation by eliminating the concept of extraordinary items. The adoption of ASU 2015-01 becomes effective for us on January 1, 2016, including interim periods within that reporting period. Early adoption is permitted. The adoption of ASU 2015-01 is not expected to have a material effect on our consolidated financial statements.
	In February 2015, FASB issued 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. The adoption of ASU 2015-02 becomes effective for us on January 1, 2016. Early adoption is permitted. We are currently in the process of evaluating the impact of the adoption of ASU 2015-02 on our consolidated financial statements.
	In April 2015, FASB issued ASU No. 2015-03, Interest – Imputation of Interest (“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 debt discounts. ASU 2015-03 will be applied on a retrospective basis. The adoption of ASU 2015-03 becomes effective for us on January 1, 2016, including interim periods within that reporting period. Early adoption is permitted. We are currently in the process of evaluating the impact of the adoption of ASU 2015-03 on our consolidated financial statements.

Net_Investment_in_Notes_Receiv1

Net Investment in Notes Receivable (Tables)	3 Months Ended
	Mar. 31, 2015
Net Investment in Notes Receivable [Abstract]
Net Investments in Notes Receivable	Net investment in note receivable consisted of the following:
			31-Mar-15		31-Dec-14
		Principal outstanding	$	2,500,000	$	2,500,000
		Initial direct costs		183,006		191,229
		Deferred fees		-45,689		-47,742
		Net investment in note receivable	$	2,637,317	$	2,643,487

Net_Investment_in_Finance_Leas1

Net Investment in Finance Lease (Tables)	3 Months Ended
	Mar. 31, 2015
Net Investment in Finance Lease [Abstract]
Net Investment in Finance Leases			31-Mar-15		31-Dec-14
		Minimum rents receivable	$	8,633,327	$	9,558,326
		Estimated unguaranteed residual value		1,600,345		1,600,345
		Initial direct costs		161,786		189,202
		Unearned income		-1,486,898		-1,753,388
		Net investment in finance lease	$	8,908,560	$	9,594,485

Investments_In_Joint_Ventures_

Investments In Joint Ventures (Tables)	3 Months Ended
	Mar. 31, 2015
Schedule Of Equity Method Investments [Line Items]
Equity Method Investments Text Block	Information as to the results of operations of ICON Murray VI, LLC (“ICON Murray VI”) is summarized as follows:
			Three Months Ended March 31,
			2015		2014
		Revenue	$	1,906,537	$	1,906,537
		Net (loss) income	$	-152,379	$	331,198
		Our share of net (loss) income	$	-37,205	$	45,614
	Information as to the results of operations of ICON Blackhawk, LLC is summarized as follows:
			Three Months Ended March 31,
			2015		2014
		Revenue	$	706,896	$	231,913
		Net income	$	446,084	$	177,977
		Our share of net income	$	45,190	$	17,985
	Information as to the results of operations of ICON 1845, LLC is summarized as follows:
			Three Months Ended March 31,
			2015		2014
		Revenue	$	397,195	$	13,788
		Net income	$	320,279	$	12,957
		Our share of net income	$	40,360	$	1,631
ICON Murray VI LLC [Member]
Schedule Of Equity Method Investments [Line Items]
Equity Method Investments Text Block			Three Months Ended March 31,
			2015		2014
		Revenue	$	1,906,537	$	1,906,537
		Net (loss) income	$	-152,379	$	331,198
		Our share of net (loss) income	$	-37,205	$	45,614
ICON Blackhawk LLC [Member]
Schedule Of Equity Method Investments [Line Items]
Equity Method Investments Text Block			Three Months Ended March 31,
			2015		2014
		Revenue	$	706,896	$	231,913
		Net income	$	446,084	$	177,977
		Our share of net income	$	45,190	$	17,985
ICON 1845 LLC [Member]
Schedule Of Equity Method Investments [Line Items]
Equity Method Investments Text Block			Three Months Ended March 31,
			2015		2014
		Revenue	$	397,195	$	13,788
		Net income	$	320,279	$	12,957
		Our share of net income	$	40,360	$	1,631

Transactions_with_Related_Part1

Transactions with Related Parties (Tables)	3 Months Ended
	Mar. 31, 2015
Transactions with Related Parties [Abstract]
Fees and Expenses Paid or Accrued	Fees and other expenses incurred by us to our Investment Manager or its affiliates were as follows:
						Three Months Ended March 31,
		Entity	Capacity	Description		2015		2014
		ICON Capital, LLC	Investment Manager	Offering expense
					reimbursements (1)	$	-	$	55,919
		ICON Capital, LLC	Investment Manager	Organization cost
					reimbursements (2)		-		3,173
		ICON Capital, LLC	Investment Manager	General and administrative
					reimbursements (2)		-		34,393
		ICON Capital, LLC	Investment Manager	Management fees (2)			41,060		12,286
		CĪON Securities, LLC	Dealer-manager	Dealer-manager and
					distribution fees (1)		-		118,767
		ICON Capital, LLC	Investment Manager	Administrative expense
					reimbursements (2)		122,855		175,593
		ICON Capital, LLC	Investment Manager	Acquisition fees (3)			-		101,524
						$	163,915	$	501,655
		(1)  Amount charged directly to shareholders' equity.
		(2)  Amount charged directly to operations.
		(3)  Amount capitalized and amortized to operations.

Organization_Details

Organization (Details) (USD $)	12 Months Ended	14 Months Ended	18 Months Ended
	Jun. 13, 2014	Dec. 31, 2014	Dec. 31, 2014	Nov. 11, 2013
Initial Capitalization				$1,000
Capital Intended To Be Raised			250,000,000
Capital Reserved For Issuance Pursuant To Distribution Reinvestment Plan			9,000,000
Minimum Initial Capitalization Sale Of Shares				1,200,000
Minimum Initial Capitalization Commonwealth Of Pennsylvania	12,500,000
Proceeds From Issuance Of Common Stock			17,469,610
Sales Commissions To Third Parties		1,198,531
Dealer Manager And Distribution Fees		347,547
Organization Costs		8,418
Offering Expenses		$161,422
Common Class A [Member]
Common Stock Shares Issued		17,189	17,189
Common Stock Shares Issued Dividend Reinvestment Plan			404
Number Of Shareholders			351
Common Class I [Member]
Common Stock Shares Issued		410	410
Common Stock Shares Issued Dividend Reinvestment Plan			12
Number Of Shareholders			6

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details)	3 Months Ended
	Mar. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Period When Notes Receivable Are Placed In Non Accrual Status	90 days

Net_Investment_in_Notes_Receiv2

Net Investment in Notes Receivable (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Notes Receivable [Abstract]
Principal outstanding	$2,500,000	$2,500,000
Initial direct costs	183,006	191,229
Deferred fees	-45,689	-47,742
Net investment in notes receivable	2,637,317	2,643,487
Principal Outstanding Discounting Rate (In Hundreths)	10.00%
Notes Receivable Fair Value Disclosure	$2,550,000

Net_Investment_in_Finance_Leas2

Net Investment in Finance Lease (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Schedule Of Equity Method Investments [Line Items]
Minimum rents receivable	$8,633,327	$9,558,326
Estimated residual value	1,600,345	1,600,345
Initial direct costs	161,786	189,202
Unearned income	-1,486,898	-1,753,388
Net investment in finance lease	$8,908,560	$9,594,485

Investment_In_Joint_Ventures_D

Investment In Joint Ventures (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Schedule Of Equity Method Investments [Line Items]
Payments To Acquire Equity Method Investments	$0	$4,904,295
Equity Method Investment Summarized Financial Information Income Statement Abstract
Our share of net income	48,345	65,231
Murray [Member]
Equity Method Investment Summarized Financial Information Income Statement Abstract
Revenue	1,906,537	1,906,537
Net income	-152,379	331,198
Our share of net income	-37,205	45,614
Black Hawk Mining LLC [Member]
Equity Method Investment Summarized Financial Information Income Statement Abstract
Revenue	706,896	231,913
Net income	446,084	177,977
Our share of net income	45,190	17,985
D T Holdings [Member]
Equity Method Investment Summarized Financial Information Income Statement Abstract
Revenue	397,195	13,788
Net income	320,279	12,957
Our share of net income	$40,360	$1,631

Revolving_Line_of_Credit_Recou1

Revolving Line of Credit, Recourse (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Revolving Line of Credit, Recourse [Abstract]
Maximum Borrowing Capacity	$5,000,000
Debt Financing Cost	19,000
Basis Spread	2.50%
Interest Floor	4.00%
Annualized Commitment Fee	0.50%
Available Borrowing Capacity	$1,553,019
Number of Separate Non Prime Rate Advances	5
Line of Credit Expiration	30-May-17

Transactions_with_Related_Part2

Transactions with Related Parties (Details) (USD $)	3 Months Ended		14 Months Ended	18 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2014
Related Party Transaction [Line Items]
Distribution Fee Percentage	10.00%
Partners' Capital Account, Distributions	$790,596
Dealer Manager And Distribution Fees			347,547
Net income (loss) allocated to Managing Owner	239	-1,848
Maximum Primary Offering of Capital	241,000,000
Managing Owner
Related Party Transaction [Line Items]
Manager Owner Interest Percentage	1.00%
Due To Investment Manager And Affiliates	1,066,760		945,186	945,186
Managing Owner | Management Fees [Member]
Related Party Transaction [Line Items]
Due To Investment Manager And Affiliates	105,000		105,000	105,000
Managing Owner | Administrative Expense Reimbursements Manager [Member]
Related Party Transaction [Line Items]
Due To Investment Manager And Affiliates	772,000		649,000	649,000
Managing Owner | Acquisition Fees [Member]
Related Party Transaction [Line Items]
Due To Investment Manager And Affiliates	102,000		102,000	102,000
CION Securities [Memeber]
Related Party Transaction [Line Items]
Dealer Manager Fee Percentage	2.00%
Distribution Fee Percentage	0.55%
CION Securities [Memeber] | Dealer Manager And Distribution Fees [Member]
Related Party Transaction [Line Items]
Fee And Other Reimbursements Incurred	0	118,767
ICON Capital [Member]
Related Party Transaction [Line Items]
Organizational And Offering Expenses Incurred				1,759,237
Organizational And Offering Expenses Reimbursement Claimed				239,758
Management Fee Percentage	3.50%
Acquisition Fee Percentage	2.50%
ICON Capital [Member] | Offering Expenses [Member]
Related Party Transaction [Line Items]
Fee And Other Reimbursements Incurred	0	55,919
Due To Investment Manager And Affiliates	105,000		105,000	105,000
ICON Capital [Member] | Organization Costs [Member]
Related Party Transaction [Line Items]
Fee And Other Reimbursements Incurred	0	3,173
Due To Investment Manager And Affiliates			52,144	52,144
ICON Capital [Member] | General And Administrative Expense [Member]
Related Party Transaction [Line Items]
Fee And Other Reimbursements Incurred	0	34,393
Due To Investment Manager And Affiliates	0
ICON Capital [Member] | Management Fees [Member]
Related Party Transaction [Line Items]
Fee And Other Reimbursements Incurred	41,060	12,286
ICON Capital [Member] | Administrative Expense Reimbursements Manager [Member]
Related Party Transaction [Line Items]
Fee And Other Reimbursements Incurred	122,855	175,593
Due To Investment Manager And Affiliates	772,000		649,000	649,000
ICON Capital [Member] | Acquisition Fees [Member]
Related Party Transaction [Line Items]
Fee And Other Reimbursements Incurred	0	101,524
Due To Investment Manager And Affiliates	$102,000
Maximum [Member]
Related Party Transaction [Line Items]
Organization And Offering Fee Percentage	1.44%

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Mar. 31, 2015
Carrying value and fair value of notes receivable [Abstract]
Notes Receivable Fair Value Disclosure	$2,550,000

Uncategorized_Items

Uncategorized Items
[us-gaap_PartnersCapitalAccountDistributions]	625