ICON ECI Fund Sixteen 10-Q 11 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 05, 2016
Class of Shares [Line Items]
Entity Registrant Name	ICON ECI Fund Sixteen
Entity Central Index Key	1,561,679
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
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 ($)	Jun. 30, 2016	Dec. 31, 2015
Assets
Cash	$ 4,668,093	$ 1,672,868
Net investment in note receivable	2,605,987	2,618,465
Net investment in finance lease	5,325,955	6,565,745
Investment in joint ventures	3,333,490	8,164,949
Other assets	56,841	100,162
Total assets	15,990,366	19,122,189
Liabilities:
Due to Investment Manager and affiliates, net	120,852	553,021
Revolving line of credit, recourse	0	1,500,000
Accrued expenses and other liabilities	540,274	572,469
Total liabilities	661,126	2,625,490
Class of Shares [Line Items]
Total shareholders' capital	12,776,470	13,351,869
Noncontrolling interests	2,552,770	3,144,830
Total equity	15,329,240	16,496,699
Total liabilities and equity	15,990,366	19,122,189
Class A
Class of Shares [Line Items]
Common stock value	12,476,731	13,039,024
Class I
Class of Shares [Line Items]
Common stock value	$ 299,739	$ 312,845

Consolidated Statement of Opera

Consolidated Statement of Operations (unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenue:
Finance income	$ 203,398	$ 281,722	$ 421,486	$ 577,126
Income from investment in joint ventures	107,158	221,547	464,540	269,892
Gain on sale of investment in joint ventures	19,566		(19,566)	0
Total revenue	330,122	503,269	905,592	847,018
Expenses:
Management fees	75,811	41,065	119,330	82,125
Administrative expense reimbursements	109,253	113,980	220,264	236,835
General and administrative	171,323	152,398	263,159	195,823
Interest	7,219	6,518	20,971	14,463
Organization costs	0	0	0	0
Total expenses	363,606	313,961	623,724	529,246
Net income	(33,484)	189,308	281,868	317,772
Less: net income attributable to noncontrolling interests	69,292	105,661	145,875	210,218
Net income attributable to Fund Sixteen	(102,776)	83,647	135,993	107,554
Net income attributable to Fund Sixteen allocable to:
Additional Class A and Class I shareholders	(101,748)	82,810	134,633	106,478
Managing Owner	(1,028)	837	1,360	1,076
Net income attributable to Fund Sixteen	(102,776)	83,647	135,993	107,554
Additional Class A shares:
Net income attributable to Fund Sixteen allocable to additional Class A shareholders	$ (99,456)	$ 80,781	$ 131,333	$ 103,800
Weighted average number of additional Class A shares outstanding	17,189	17,189	17,189	17,189
Net income attributable to Fund Sixteen per weighted average additional Class A share	$ (5.78602594682646)	$ 4.69957530979115	$ 7.64052591773809	$ 6.03874570946536
Additional Class I shares:
Net income attributable to Fund Sixteen allocable to additional Class I shareholders	$ (2,292)	$ 2,029	$ 3,300	$ 2,678
Weighted average number of additional Class I shares outstanding	410	410	410	410
Net income attributable to Fund Sixteen per weighted average additional Class I share	$ (5.59024390243902)	$ 4.94878048780488	$ 8.04878048780488	$ 6.53170731707317

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity - USD ($)	Total	Managing Owner	Additional Class A Shareholders	Class A	Class I Additional Shareholders	Noncontrolling Interests [Member]
Balance at Dec. 31, 2015	$ 16,496,699	$ (24,036)	$ 13,063,060	$ 13,039,024	$ 312,845	$ 3,144,830
Balance (in shares) at Dec. 31, 2015	17,599	0.001	17,189	17,189	410
Increase (decrease) in equity [Roll Forward]
Net income	$ 315,352	$ 2,388	$ 230,789	$ 233,177	$ 5,592	76,583
Distributions	(642,225)	3,539	342,218	345,757	8,162	288,306
Balance (unaudited) at Mar. 31, 2016	$ 16,169,826	$ (25,187)	$ 12,951,631	$ 12,926,444	$ 310,275	2,933,107
Balance (unaudited) (in shares) at Mar. 31, 2016	17,599	0.001	17,189	17,189	410
Balance at Dec. 31, 2015	$ 16,496,699	$ (24,036)	$ 13,063,060	$ 13,039,024	$ 312,845	3,144,830
Balance (in shares) at Dec. 31, 2015	17,599	0.001	17,189	17,189	410
Increase (decrease) in equity [Roll Forward]
Net income	$ 281,868
Balance (unaudited) at Jun. 30, 2016	15,329,240	$ (29,790)	$ 12,506,521	$ 12,476,731	$ 299,739	2,552,770
Balance (unaudited) (in shares) at Jun. 30, 2016		0.001	17,189	17,189	410
Balance at Mar. 31, 2016	$ 16,169,826	$ (25,187)	$ 12,951,631	$ 12,926,444	$ 310,275	2,933,107
Balance (in shares) at Mar. 31, 2016	17,599	0.001	17,189	17,189	410
Increase (decrease) in equity [Roll Forward]
Net income	$ (33,484)	$ (1,028)	$ (99,456)	$ (100,484)	$ (2,292)	69,292
Distributions	(807,102)	3,575	345,654	349,229	8,244	449,629
Balance (unaudited) at Jun. 30, 2016	$ 15,329,240	$ (29,790)	$ 12,506,521	$ 12,476,731	$ 299,739	$ 2,552,770
Balance (unaudited) (in shares) at Jun. 30, 2016		0.001	17,189	17,189	410

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net income	$ 281,868	$ 317,772
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Finance income	75,344	42,152
Income from investment in joint ventures	(464,540)	(269,892)
Gain on sale of investment in joint ventures	(19,566)	0
Interest expense from amortization of debt financing costs	4,372	5,895
Interest expense, other	7,219	8,568
Changes in operating assets and liabilities:
Other assets	38,950	137,430
Due to Investment Manager and affiliates, net	(432,169)	(1,262,877)
Accrued expenses and other liabilities	10,136	(24,698)
Distributions from joint ventures	461,911	307,096
Increase (Decrease) In Deferred Revenue	0	0
Net cash (used in) provided by operating activities	(36,476)	(1,013,414)
Cash flows from investing activities:
Payments To Acquire Machinery And Equipment	0	0
Payments To Acquire Notes Receivable	0	0
Proceeds from sale of investment in joint ventures	3,788,373	0
Principal received on finance lease	1,176,924	1,395,536
Investment in joint venture	0	15,976
Distributions received from joint venture in excess of profit	1,065,281	834,909
Net cash provided by investing activities	6,030,578	2,214,469
Cash flows from financing activities:
Repayment of non-recourse long-term debt	0	0
Sale of Class A and Class I shares	0	0
Proceeds From Minority Shareholders	0	17,163
Repayment of revolving line of credit, recourse	(1,500,000)
Sales and offering expenses paid	49,550	0
Investment by noncontrolling interests	0	17,163
Distributions to noncontrolling interests	737,935	897,657
Distributions to shareholders	711,392	705,055
Net cash used in financing activities	(2,998,877)	(1,585,549)
Net increase (decrease) in cash	2,995,225	(384,494)
Cash, end of period	$ 4,668,093	$ 3,864,580

Organization

Organization	6 Months Ended
	Jun. 30, 2016
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 Ca pital 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 investm ent 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 origin ate 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 Man ager”). 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 delega ted 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 c ease 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, Cl ass 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 “DRI P”). 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. 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 m inimum 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 a nd 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 Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 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 Managing Owner, all adjustments, which are of a normal recurring na ture, 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 Decem ber 31, 2015 . 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 a nd 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 wh en 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 f inancing 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 accessibilit y 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 o n a non-accrual status w hen 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 pla ced o n 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 cas h basis. Financing receivables o n 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 c harge 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. Recently Adopted Accounting Pronouncements In January 2015, the Financial Accounting Standard s 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 incom e statement presentation 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. In February 2015, FASB issued ASU No. 2015-02, Consolidation – A mendments 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, 20 16, which did not have an effect on our consolidated financial statements. 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 debt discounts. In August 2015, FASB iss ued 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”), w hich further specifies the SEC s taff’s view on the presentation and subsequ ent measurement of debt issuance costs associated with line of credit arrangements. We adopted ASU 2015-03 on January 1, 2016, which did not have an effect on our consolidated financial statements. 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 standard 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 201 4-09 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, 20 17. 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 after December 31, 2016, and all subsequent annual and interim periods. Early adoption is permitted. The adoption of ASU 2014-15 is not ex pected 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 Financial 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. In addition, FASB clarified guidance related to the valuation all owance 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 2016-02”), which requires lessees to recognize assets and liabili ties 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 focused on conforming with certain changes made to lessee accounti ng 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. 2016-07, Investments – Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting (“ASU 2016-07”), which eliminates the retroactive adjustments to a n investment upon it qualifying for the equity method of accounting as a result of an increase in the level of ownership interest or degree of influence by the investor. ASU 2016-07 requires that the equity method investor add the cost of acquiring the add itional 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 f or us on January 1, 2017, including interim periods within that reporting period. Early adoption is permitted. The adoption of ASU 2016-07 is not expected to have a material effect on our consolidated financial statements. In June 2016, FASB issued ASU N o. 2016-13, Financial Instruments – Credit Losses (“ASU 2016-13”), which modifies the measurement of credit losses by eliminating the probable initial recognition threshold set forth in current guidance, and instead reflects an entity’s current estimate of all expected credit losses. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the r eported amount. An entity will apply the amendments within ASU 2016-13 through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The adoption of ASU 2016-13 becomes eff ective for us on January 1, 2020, 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 2016-13 on our consolidated financial statements.

Net Investment in Note Receivab

Net Investment in Note Receivable	6 Months Ended
	Jun. 30, 2016
Notes Receivable [Abstract]
Notes And Other Receivables Disclosure	(3) Net Investment in Note Receivable As of June 30, 2016 and December 31, 2015 , we had no net investment in note receivable on non-accrual status and no net investment in note receivable that was past due 90 days or more and still accruing. Net investment in note receivable consisted of the following: June 30, 2016 December 31, 2015 Principal outstanding $ 2,500,000 $ 2,500,000 Initial direct costs 141,252 157,881 Deferred fees (35,265) (39,416) Net investment in note receivable $ 2,605,987 $ 2,618,465 Assets for which Fair Value is Disclosed Our 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 and liabilities is not separate ly 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, including the recorded value of our Facility (as defined be low in Note 6), 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. As of June 30, 2016 , the fair value of the principal outstanding on our fixed-rate note receivable was estimated to be $ 2,530,476 a nd was derived using a discount rate of 10.20 % per year .

Net Investment in Finance Lease

Net Investment in Finance Lease	6 Months Ended
	Jun. 30, 2016
Net Investment in Finance Lease [Abstract]
Net Investment in Finance Leases	(4) Net Investment in Finance Lease As of June 30, 2016 and December 31, 2015 , we had no net investment in finance lease on non-accrual status and no net investment in finance lease that was past due 90 days or more and still accruing. Net investment in finance lease consisted of the following: June 30, 2016 December 31, 2015 Minimum rents receivable $ 4,172,208 $ 5,706,052 Estimated unguaranteed residual value 1,546,793 1,558,749 Initial direct costs 50,151 87,548 Unearned income (443,197) (786,604) Net investment in finance lease $ 5,325,955 $ 6,565,745

Investment in Joint Ventures

Investment in Joint Ventures	6 Months Ended
	Jun. 30, 2016
Investment in Joint Ventures [Abstract]
Investment in Joint Ventures	(5) Investment in Joint Ventures On October 29, 2015, Murray Energy Corporation and certain of its affiliates (collectively, “Murray”) purchased mining equipment from a joint venture owned 19.8% by us pursuant to the terms of the lease for $2,991,400. As a result, a gain on sale of assets of $448,710 was recognized by the joint venture, of which our share was $88,845. Pursuant to a remarketing agreement with a third party, the joint venture paid an aggregate remarketing fee of $766,466 as pa rt of the transaction. Information as to the results of operations of this joint venture is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Revenue $ - $ 1,906,537 $ - $ 3,813,074 Net (loss) income $ (365) $ 662,658 $ (2,017) $ 510,278 Our share of net (loss) income $ (72) $ 124,173 $ (399) $ 86,968 On January 14 , 2016, D&T Holdings, LLC (“D&T”) satisfied its remaining lease obligations by making 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 12.5% by us recognized finance income of approximately $1,400,000, of which our share was approximately $175,000. Information as to the results of operations of this joint venture is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Revenue $ - $ 380,693 $ 1,491,704 $ 777,888 Net (loss) income $ (3,684) $ 364,240 $ 1,480,497 $ 684,518 Our share of net (loss) income $ (460) $ 45,865 $ 185,162 $ 86,225 On December 23, 2015, a joint venture owned 10% by us, 75% by ICON ECI Fund Fifteen, L.P. (“Fund Fifteen”) and 15% by ICON Equipment and Corporate Infrastructure Fund Fourteen, L.P. (“Fund Fourteen”), each an entity also managed by our Investment Manager, through two indirect subsidiaries, entered into memoranda of agreement to purchase two geotechnical drilling vessels, the Fugro Scout and the Fugro Voyager (collectively, the “Fugro Vessels”), from affiliates of Fugro N.V. (“Fugro”) for an aggregate purch ase price of $130,000,000. The Fugro Scout and the Fugro Voyager were delivered on December 24, 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 resp ective vessel, although such charters can be terminated by the indirect subsidiaries after year five. On December 24, 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 B ank N.V. (“ABN AMRO”), Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (“Rabobank”) and NIBC 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 Vo yager of approximately $10,221,000 was being held by the applicable indirect subsidiary of the joint venture until delivery of the vessel. On January 8, 2016, the Fugro Voyager was also acquired for $8,250,000 in cash, $45,500,000 of financing through a se nior secured loan from ABN AMRO, Rabobank and NIBC and an advanced 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 t he 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. Our contribution to the joint venture totaling $2,37 7,250 was made in December 2015. On June 8, 2016, an unaffiliated third party purchased 100% of the limited liability company interests of ICON Challenge, LLC (“ICON Challenge” ), a joint venture owned 10% by us, 40% by Fund Fourteen and 50% by Fund Fifteen, for net sales proceeds of $9,004,214. No significant gain or loss was recorded by us as a result of the sale. Information as to the results of operations of ICON Challenge is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Revenue $ 196,415 $ - $ 463,524 $ - Net income $ 215,050 $ - $ 482,159 $ - Our share of net income $ 21,505 $ - $ 48,216 $ - On June 8, 2016, an unaffiliated third party purchased 100% of the limited liability company interests of ICON Challenge III, LLC (“ICON Challenge III” ), a joint venture owned 25% by us and 75% by Fund Fifteen, for net sales proceeds of $11,551,806. As a result, we recorded a gain on sale of investment in joint venture of $17,681 . Information as to the results of operations of ICON Challenge III is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Revenue $ 254,206 $ - $ 599,122 $ - Net income $ 253,906 $ - $ 598,822 $ - Our share of net income $ 63,476 $ - $ 149,705 $ - Information as to the results of operations of ICON Blackhawk, LLC , which is owned 10% by us, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Revenue $ 513,952 $ 677,973 $ 1,046,607 $ 1,384,869 Net income $ 378,169 $ 509,444 $ 777,740 $ 955,528 Our share of net income $ 38,333 $ 51,509 $ 78,828 $ 96,699

Revolving Line of Credit, Recou

Revolving Line of Credit, Recourse	6 Months Ended
	Jun. 30, 2016
Revolving Line of Credit, Recourse [Abstract]
Revolving Line of Credit, Recourse	(6) 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 $5,000,000 (the “Fac ility”), 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 agree ments 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 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. As of December 31, 2015, we had $1 ,500,000 outstanding under the Facility, of which we repaid $1,000,000 and $500,000 on February 9, 2016 and March 29, 2016, respectively. At June 30, 2016 , there were no obligations outstanding under the Facility and we were in compliance with all covenants related to the Facility. At June 30, 2016 , we had $1,861,788 available under the Facility pursuant to the borrowing base.

Transactions with Related Parti

Transactions with Related Parties	6 Months Ended
	Jun. 30, 2016
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 earli er 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. During the three and six months ended June 30, 2016 , we paid distribution fees of $1,017. 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 re imbursement 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 offer ing period, our Investment Mana ger and its affiliates incurred organization and offering expenses of $1, 759,237 on our behalf, of which our Investmen t Manager and its affiliates determined only t o seek reimbursement of $239,758. We pay our Investment Man ager (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 individua ls with a controlling interest in our Investment Manager. We paid distributions to our Managing Owner of $ 3,575 and $ 7,114 for the three and six months ended June 30, 2016 , respectively. We paid distributions to our Ma naging Owner of $3,585 and $7,051 for the three and six months ended June 30, 2015 , respectively. Additionally, our Managing Owne r’s interest in the net (loss) income attributa ble to us was $ (1,028) and $ 1,360 for the three and six months ended June 30, 2016 , respectively. O ur Managing Owne r’s interest in the net income attributa ble to us was $ 837 and $ 1,076 for the three and six months ended June 30, 2015 , respecti vely. Fees and other expenses incurred by us to our Investment Manager or its affiliates were as follows: Three Months Ended June 30, Six Months Ended June 30, Entity Capacity Description 2016 2015 2016 2015 ICON Capital, LLC Investment Manager Management fees (1) $ 75,811 $ 41,065 $ 119,330 $ 82,125 ICON Capital, LLC Investment Manager Administrative expense reimbursements (1) 109,253 113,980 220,264 236,835 $ 185,064 $ 155,045 $ 339,594 $ 318,960 (1) Amount charged directly to operations. At June 30, 2016 , we had a net payable of $ 120,852 due to our Investment Manager and affiliates that primarily consisted of administrative expense reimbursements of $ 109,253 . At December 31, 2015, we had a net payable of $553,021 due to our Investment Manager and affiliates that primarily consisted of acquisition fees of $399,865 and administrative expense reimbursements of $188,537. During the three months ended June 30, 20 16, we sold our interests in certain of our joint ventures to unaffiliated third parties. In connection with the sales, the third parties required that an affiliate of our Investment Manager provide s bookkeeping and administrative services related to such assets for a fee.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	( 8 ) 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 su ch indemnification obligations may or may not have a material adverse effect on our consolidated financial condition or results of operations taken as a whole.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	(9 ) Subsequent Event On August 9, 2016, Premier Trailer Leasing , Inc. (“Premier Trailer”) satisfied its obligations in connection with a secured term loan scheduled to mature on September 24, 2020 by making a prepayment of $2,581,944.

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Summary of Significant Accounting Policies [Abstract]
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 Managing Owner, all adjustments, which are of a normal recurring na ture, 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 Decem ber 31, 2015 . 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 a nd 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 wh en 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 f inancing 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 accessibilit y 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 o n a non-accrual status w hen 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 pla ced o n 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 cas h basis. Financing receivables o n 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 c harge 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.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In January 2015, the Financial Accounting Standard s 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 incom e statement presentation 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. In February 2015, FASB issued ASU No. 2015-02, Consolidation – A mendments 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, 20 16, which did not have an effect on our consolidated financial statements. 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 debt discounts. In August 2015, FASB iss ued 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”), w hich further specifies the SEC s taff’s view on the presentation and subsequ ent measurement of debt issuance costs associated with line of credit arrangements. We adopted ASU 2015-03 on January 1, 2016, which did not have an effect on our consolidated financial statements. 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	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 standard 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 201 4-09 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, 20 17. 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 after December 31, 2016, and all subsequent annual and interim periods. Early adoption is permitted. The adoption of ASU 2014-15 is not ex pected 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 Financial 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. In addition, FASB clarified guidance related to the valuation all owance 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 2016-02”), which requires lessees to recognize assets and liabili ties 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 focused on conforming with certain changes made to lessee accounti ng 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. 2016-07, Investments – Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting (“ASU 2016-07”), which eliminates the retroactive adjustments to a n investment upon it qualifying for the equity method of accounting as a result of an increase in the level of ownership interest or degree of influence by the investor. ASU 2016-07 requires that the equity method investor add the cost of acquiring the add itional 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 f or us on January 1, 2017, including interim periods within that reporting period. Early adoption is permitted. The adoption of ASU 2016-07 is not expected to have a material effect on our consolidated financial statements. In June 2016, FASB issued ASU N o. 2016-13, Financial Instruments – Credit Losses (“ASU 2016-13”), which modifies the measurement of credit losses by eliminating the probable initial recognition threshold set forth in current guidance, and instead reflects an entity’s current estimate of all expected credit losses. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the r eported amount. An entity will apply the amendments within ASU 2016-13 through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The adoption of ASU 2016-13 becomes eff ective for us on January 1, 2020, 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 2016-13 on our consolidated financial statements.

Net Investment in Notes Receiva

Net Investment in Notes Receivable (Tables)	6 Months Ended
	Jun. 30, 2016
Net Investment in Notes Receivable [Abstract]
Net Investments in Notes Receivable	Net investment in note receivable consisted of the following: June 30, 2016 December 31, 2015 Principal outstanding $ 2,500,000 $ 2,500,000 Initial direct costs 141,252 157,881 Deferred fees (35,265) (39,416) Net investment in note receivable $ 2,605,987 $ 2,618,465

Net Investment in Finance Lea17

Net Investment in Finance Lease (Tables)	6 Months Ended
	Jun. 30, 2016
Net Investment in Finance Lease [Abstract]
Net Investment in Finance Leases	Net investment in finance lease consisted of the following: June 30, 2016 December 31, 2015 Minimum rents receivable $ 4,172,208 $ 5,706,052 Estimated unguaranteed residual value 1,546,793 1,558,749 Initial direct costs 50,151 87,548 Unearned income (443,197) (786,604) Net investment in finance lease $ 5,325,955 $ 6,565,745

Investment in Joint Ventures (T

Investment in Joint Ventures (Tables)	6 Months Ended
	Jun. 30, 2016
Schedule Of Equity Method Investments [Line Items]
Equity Method Investments [Text Block]	On June 8, 2016, an unaffiliated third party purchased 100% of the limited liability company interests of ICON Challenge III, LLC (“ICON Challenge III” ), a joint venture owned 25% by us and 75% by Fund Fifteen, for net sales proceeds of $11,551,806. As a result, we recorded a gain on sale of investment in joint venture of $17,681 . Information as to the results of operations of ICON Challenge III is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Revenue $ 254,206 $ - $ 599,122 $ - Net income $ 253,906 $ - $ 598,822 $ - Our share of net income $ 63,476 $ - $ 149,705 $ -
ICON Challenge LLC [Member]
Schedule Of Equity Method Investments [Line Items]
Equity Method Investments [Text Block]	On June 8, 2016, an unaffiliated third party purchased 100% of the limited liability company interests of ICON Challenge, LLC (“ICON Challenge” ), a joint venture owned 10% by us, 40% by Fund Fourteen and 50% by Fund Fifteen, for net sales proceeds of $9,004,214. No significant gain or loss was recorded by us as a result of the sale. Information as to the results of operations of ICON Challenge is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Revenue $ 196,415 $ - $ 463,524 $ - Net income $ 215,050 $ - $ 482,159 $ - Our share of net income $ 21,505 $ - $ 48,216 $ -
Murray Energy Corporation [Member]
Schedule Of Equity Method Investments [Line Items]
Equity Method Investments [Text Block]	On October 29, 2015, Murray Energy Corporation and certain of its affiliates (collectively, “Murray”) purchased mining equipment from a joint venture owned 19.8% by us pursuant to the terms of the lease for $2,991,400. As a result, a gain on sale of assets of $448,710 was recognized by the joint venture, of which our share was $88,845. Pursuant to a remarketing agreement with a third party, the joint venture paid an aggregate remarketing fee of $766,466 as pa rt of the transaction. Information as to the results of operations of this joint venture is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Revenue $ - $ 1,906,537 $ - $ 3,813,074 Net (loss) income $ (365) $ 662,658 $ (2,017) $ 510,278 Our share of net (loss) income $ (72) $ 124,173 $ (399) $ 86,968
D&T Holdings, LLC [Member]
Schedule Of Equity Method Investments [Line Items]
Equity Method Investments [Text Block]	On January 14 , 2016, D&T Holdings, LLC (“D&T”) satisfied its remaining lease obligations by making 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 12.5% by us recognized finance income of approximately $1,400,000, of which our share was approximately $175,000. Information as to the results of operations of this joint venture is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Revenue $ - $ 380,693 $ 1,491,704 $ 777,888 Net (loss) income $ (3,684) $ 364,240 $ 1,480,497 $ 684,518 Our share of net (loss) income $ (460) $ 45,865 $ 185,162 $ 86,225
Blackhawk, LLC [Member]
Schedule Of Equity Method Investments [Line Items]
Equity Method Investments [Text Block]	Information as to the results of operations of ICON Blackhawk, LLC , which is owned 10% by us, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Revenue $ 513,952 $ 677,973 $ 1,046,607 $ 1,384,869 Net income $ 378,169 $ 509,444 $ 777,740 $ 955,528 Our share of net income $ 38,333 $ 51,509 $ 78,828 $ 96,699

Transactions with Related Par19

Transactions with Related Parties (Tables)	6 Months Ended
	Jun. 30, 2016
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 June 30, Six Months Ended June 30, Entity Capacity Description 2016 2015 2016 2015 ICON Capital, LLC Investment Manager Management fees (1) $ 75,811 $ 41,065 $ 119,330 $ 82,125 ICON Capital, LLC Investment Manager Administrative expense reimbursements (1) 109,253 113,980 220,264 236,835 $ 185,064 $ 155,045 $ 339,594 $ 318,960 (1) Amount charged directly to operations.

Organization (Details)

Organization (Details)	14 Months Ended	18 Months Ended
	Dec. 31, 2014USD ($)shares	Dec. 31, 2014USD ($)Number Of Shareholdersshares	Jun. 13, 2014USD ($)	Nov. 12, 2013USD ($)
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 | shares	17,189	17,189
Common Stock Shares Issued Dividend Reinvestment Plan | shares		404
Number Of Shareholders | Number Of Shareholders		351
Common Class I [Member]
Common Stock Shares Issued | shares	410	410
Common Stock Shares Issued Dividend Reinvestment Plan | shares		12
Number Of Shareholders | Number Of Shareholders		6

Net Investment in Note Receiv21

Net Investment in Note Receivable (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Notes Receivable [Abstract]
Principal outstanding	$ 2,500,000	$ 2,500,000
Initial direct costs	141,252	157,881
Deferred fees	35,265	39,416
Net investment in note receivable	$ 2,605,987	$ 2,618,465
Principal Outstanding Discounting Rate (In Hundreths)	10.20%
Notes Receivable Fair Value Disclosure	$ 2,530,476

Net Investment in Finance Lea22

Net Investment in Finance Lease (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Schedule Of Equity Method Investments [Line Items]
Minimum rents receivable	$ 4,172,208	$ 5,706,052
Estimated unguaranteed residual value	1,546,793	1,558,749
Initial direct costs	50,151	87,548
Unearned income	443,197	786,604
Net investment in finance lease	$ 5,325,955	$ 6,565,745

Investment In Joint Ventures (D

Investment In Joint Ventures (Details) - USD ($)	Jun. 08, 2016	Feb. 08, 2016	Jan. 14, 2016	Jan. 08, 2016	Oct. 29, 2015	Dec. 24, 2014	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Mar. 31, 2016	Dec. 23, 2015
Schedule Of Equity Method Investments [Line Items]
Payments To Acquire Equity Method Investments									$ 0	$ (15,976)
Payments To Acquire Machinery And Equipment									0	0
Equity Method Investment Summarized Financial Information Income Statement [Abstract]
Our share of net income (loss)							$ 107,158	$ 221,547	464,540	269,892
Proceeds from Sale of Equity Method Investments									3,788,373	0
Gain on sale of investment in joint ventures							19,566		(19,566)	0
Finance income							203,398	281,722	421,486	577,126
Murray [Member]
Equity Method Investment Summarized Financial Information Income Statement [Abstract]
Revenue							0	1,906,537	0	3,813,074
Net income (loss)							(365)	662,658	(2,017)	510,278
Our share of net income (loss)							(72)	124,173	(399)	86,968
Gain (Loss) on Disposition of Other Assets					$ 448,710
Proceeds From Lease Prepayments					2,991,400
Black Hawk Mining LLC [Member]
Equity Method Investment Summarized Financial Information Income Statement [Abstract]
Revenue							513,952	677,973	1,046,607	1,384,869
Net income (loss)							378,169	509,444	777,740	955,528
Our share of net income (loss)							38,333	51,509	78,828	96,699
D T Holdings [Member]
Equity Method Investment Summarized Financial Information Income Statement [Abstract]
Revenue							0	380,693	1,491,704	777,888
Net income (loss)							(3,684)	364,240	1,480,497	684,518
Our share of net income (loss)							$ (460)	45,865	185,162	86,225
Proceeds From Lease Prepayments			$ 8,000,000
Finance income			1,400,000
ICON Fugro Holdings [Member]
Schedule Of Equity Method Investments [Line Items]
Charter Of Vessels Term Period							12 years
Vessels Delivery Date							12/24/2015
Equity Method Investment Summarized Financial Information Income Statement [Abstract]
Revenue							$ 324,929	0	669,845	0
Net income (loss)							324,629	0	699,545	0
Our share of net income (loss)							$ 81,157	$ 0	$ 167,386	$ 0
ICON Challenge LLC [Member]
Equity Method Investment Summarized Financial Information Income Statement [Abstract]
Proceeds from Disvestiture of Interest in Joint Venture	$ 9,004,214
ICON Challenge III LLC [Member]
Equity Method Investment Summarized Financial Information Income Statement [Abstract]
Proceeds from Disvestiture of Interest in Joint Venture	11,551,806
Mining Equipment [Member] | ICON Fugro Holdings [Member]
Schedule Of Equity Method Investments [Line Items]
Debt Instrument Interest Rate Terms				12/31/2020
Vessels Delivery Date							1/8/2016
Joint Venture Investment [Member] | Murray [Member]
Equity Method Investment Summarized Financial Information Income Statement [Abstract]
Gain (Loss) on Disposition of Other Assets					88,845
Present value of remarketing agreement					$ 766,466
Joint Venture Investment [Member] | D T Holdings [Member]
Equity Method Investment Summarized Financial Information Income Statement [Abstract]
Finance income			$ 175,000
Joint Venture Investment [Member] | ICON Fugro Holdings [Member]
Schedule Of Equity Method Investments [Line Items]
Debt Instrument Interest Rate Terms				4.117%
ICON ECI Fund Sixteen LP [Member] | Joint Venture Investment [Member] | Murray [Member]
Schedule Of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage												19.80%
ICON ECI Fund Sixteen LP [Member] | Joint Venture Investment [Member] | Black Hawk Mining LLC [Member]
Schedule Of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage												10.00%
ICON ECI Fund Sixteen LP [Member] | Joint Venture Investment [Member] | D T Holdings [Member]
Schedule Of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage												12.50%
ICON ECI Fund Sixteen LP [Member] | Joint Venture Investment [Member] | ICON Fugro Holdings [Member]
Schedule Of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage												10.00%	10.00%
Payments To Acquire Equity Method Investments											$ 2,377,250
Business Combinations Purchase Price											$ 10,221,000		$ 130,000,000
Payments To Acquire Machinery And Equipment				$ 8,250,000		$ 8,250,000
Non-Recourse Debt				45,500,000		45,500,000
Advanced Charter Hire Payment				$ 11,250,000		$ 11,250,000
Debt Instrument Interest Rate Terms		LIBOR + 2.95%		LIBOR + 2.95%
ICON ECI Fund Sixteen LP [Member] | Joint Venture Investment [Member] | ICON Challenge III LLC [Member]
Equity Method Investment Summarized Financial Information Income Statement [Abstract]
Gain on sale of investment in joint ventures	$ 17,681
ICON ECI Fund Fourteen LP [Member] | Joint Venture Investment [Member] | ICON Fugro Holdings [Member]
Schedule Of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage													15.00%
ICON ECI Fund Fifteen LP [Member] | Joint Venture Investment [Member] | ICON Fugro Holdings [Member]
Schedule Of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage													75.00%

Revolving Line of Credit, Rec24

Revolving Line of Credit, Recourse (Details)	Mar. 29, 2016USD ($)	Feb. 09, 2016USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Revolving Line of Credit, Recourse [Abstract]
Maximum Borrowing Capacity			$ 5,000,000		$ 5,000,000
Debt Financing Cost				$ 19,000
Basis Spread			2.50%
Interest Floor			4.00%
Annualized Commitment Fee			0.50%
Available Borrowing Capacity			$ 1,861,788		$ 1,861,788
Number of Separate Non Prime Rate Advances			5		5
Line of Credit Expiration			May 30, 2017
Repayments Of Lines Of Credit	$ 500,000	$ 1,000,000			$ (1,500,000)
Outstanding borrowings under the facility			$ 0		$ 0	$ 1,500,000

Transactions with Related Par25

Transactions with Related Parties (Details) - USD ($)		3 Months Ended			6 Months Ended		14 Months Ended
		Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2014	Dec. 31, 2015
Related Party Transaction [Line Items]
Distribution Fee Percentage					10.00%
Organizational And Offering Expenses Incurred							$ 1,759,237
Organizational And Offering Expenses Reimbursement Claimed					$ 239,758
Partners' Capital Account, Distributions		$ 807,102	$ 642,225
Due To Investment Manager And Affiliates		120,852			120,852			$ 553,021
Dealer Manager And Distribution Fees							$ 347,547
Net income (loss) allocated to Managing Owner		(1,028)		$ 837	1,360	$ 1,076
Maximum Primary Offering of Capital		241,000,000			241,000,000
Payments of Stock Issuance Costs		$ 1,017			(49,550)	0
Administrative Expense Reimbursements Manager [Member]
Related Party Transaction [Line Items]
Capital Contributions					109,253
Managing Owner
Related Party Transaction [Line Items]
Manager Owner Interest Percentage		1.00%
Partners' Capital Account, Distributions		$ 3,575		3,585	7,144	7,051
Due To Investment Manager And Affiliates		118,686			$ 118,686			553,021
Managing Owner | Administrative Expense Reimbursements Manager [Member]
Related Party Transaction [Line Items]
Due To Investment Manager And Affiliates								188,537
Managing Owner | Acquisition Fees [Member]
Related Party Transaction [Line Items]
Due To Investment Manager And Affiliates								$ 399,865
CION Securities [Memeber]
Related Party Transaction [Line Items]
Dealer Manager Fee Percentage					2.00%
Distribution Fee Percentage					0.55%
ICON Capital [Member]
Related Party Transaction [Line Items]
Management Fee Percentage					3.50%
Acquisition Fee Percentage					2.50%
Fee And Other Reimbursements Incurred		185,064		155,045	$ 339,594	318,960
ICON Capital [Member] | Management Fees [Member]
Related Party Transaction [Line Items]
Fee And Other Reimbursements Incurred	[1]	75,811		41,065	119,330	82,125
ICON Capital [Member] | Administrative Expense Reimbursements Manager [Member]
Related Party Transaction [Line Items]
Fee And Other Reimbursements Incurred	[1]	$ 109,253		$ 113,980	$ 220,264	$ 236,835
Maximum [Member]
Related Party Transaction [Line Items]
Organization And Offering Fee Percentage		1.44%			1.44%
[1]	(1)  Amount charged directly to operations.

Commitments and Contingencies (

Commitments and Contingencies (Details)	14 Months Ended
	Dec. 31, 2014USD ($)
Other Commitments [Line Items]
Organizational And Offering Expenses Incurred	$ 1,759,237

Subsequent Events (Details)

Subsequent Events (Details)	Aug. 09, 2016USD ($)
Premier [Member]
Subsequent Event [Line Items]
Principal received on notes receivable	$ 2,581,944

Uncategorized Items - icoj-2016

Label	Element	Value
Partners' Capital Account, Units	us-gaap_SharesOutstanding	0.001