Arboretum Silverleaf Income Fund 10-K 31 Mar 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2021	Jun. 30, 2020
Cover [Abstract]
Entity Registrant Name	Arboretum Silverleaf Income Fund, L.P.
Entity Central Index Key	0001672773
Document Type	10-K
Document Period End Date	Dec. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filer	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		2,532,772.53
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 1,838,659	$ 5,064,943
Investments in finance leases, net	15,767,235	18,764,984
Investments in equipment subject to operating leases, net		1,808,764
Collateralized loans receivable, including accrued interest of $4,667 and $12,003, respectively	3,986,896	3,131,307
Other assets	7,294,637	575,028
Total Assets	28,887,427	29,345,026
Liabilities:
Accounts payable and accrued liabilities	247,582	238,932
Loan payable, including accrued interest of $95,135 and $37,103, respectively	12,375,581	9,722,177
Distributions payable to Limited Partners	255,362	511,318
Distributions payable to General Partner	48,698	36,013
Security deposit payable	49,391	49,391
Deferred revenue	717,814	620,061
Total Liabilities	13,694,428	11,177,892
Partners' Equity (Deficit):
Limited Partners	15,272,406	18,216,951
General Partner	(79,407)	(49,817)
Total Equity	15,192,999	18,167,134
Total Liabilities and Partners' Equity	$ 28,887,427	$ 29,345,026

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Accrued interest	$ 4,667	$ 12,003
Accrued interest payable	$ 95,135	$ 37,103

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue
Rental income	$ 296,368	$ 419,024
Finance income	2,418,960	1,403,049
Interest income	520,775	437,120
Other income	527	688
Total Revenue	3,236,630	2,259,881
Loss on sale of assets	(715,517)
Provision for loan and lease losses	(1,592,055)
Revenue, net	929,058	2,259,881
Expenses
Management fees - Investment Manager	750,000	750,000
Interest expense	810,866	83,245
Depreciation	279,186	329,146
Professional fees	438,085	669,570
Administration expense	335,292	244,238
Other expenses	6,177	8,508
Total Expenses	2,619,606	2,084,707
Net (loss) income	(1,690,548)	175,174
Net (loss) income attributable to the Partnership
Limited Partners	(1,673,643)	173,422
General Partner	(16,905)	1,752
Net (loss) income attributable to the Partnership	$ (1,690,548)	$ 175,174
Weighted average number of limited partnership interests outstanding	2,532,772.53	1,302,315.04
Net (loss) income attributable to Limited Partners per weighted average number of limited partnership interests outstanding	$ (0.66)	$ 0.13

Consolidated Statements of Chan

Consolidated Statements of Changes in Partners' Equity (Deficit) - USD ($)	Limited Partnership Interests [Member]	General Partner [Member]	Limited Partner [Member]	Total
Balance at Dec. 31, 2018		$ (32,139)	$ 13,882,867	$ 13,850,728
Balance, shares at Dec. 31, 2018	1,935,481.94
Partners' capital contributions			6,001,906	6,001,906
Partners' capital contributions, shares	600,190.59
Offering expenses			545,974	545,974
Underwriting fees			(418,337)	(418,337)
Net income (loss)		1,752	173,422	175,174
Distributions to partners		(19,430)	(1,945,025)	(1,964,455)
Redemptions to partners			(23,856)	(23,856)
Redemptions to partners, shares	(2,900)
Balance at Dec. 31, 2019		(49,817)	18,216,951	18,167,134
Balance, shares at Dec. 31, 2019	2,532,772.53
Partners' capital contributions
Partners' capital contributions, shares
Underwriting fees
Net income (loss)		(16,905)	(1,673,643)	(1,690,548)
Distributions to partners		(12,685)	(1,270,902)	(1,283,587)
Redemptions to partners
Redemptions to partners, shares
Balance at Dec. 31, 2020		$ (79,407)	$ 15,272,406	$ 15,192,999
Balance, shares at Dec. 31, 2020	2,532,772.53

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net (loss) income	$ (1,690,548)	$ 175,174
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Finance income	(2,418,960)	(1,403,049)
Accrued interest income	(520,775)	(437,343)
Provision for loan and lease losses	1,592,055
Depreciation	279,186	329,146
Loss on sale of assets	715,517
Change in operating assets and liabilities:
Minimum rents receivable	10,009,831	3,930,849
Accrued interest income	546,701	432,190
Other assets	(122,079)	(574,680)
Accounts payable and accrued liabilities	8,650	113,513
Accrued interest on loan payable	58,032	37,103
Security deposit payable		49,391
Deferred revenue	(153,848)	368,113
Funding liability for collateralized loans and leases		1,088
Net cash provided by operating activities	8,303,762	3,021,495
Cash flows from investing activities:
Purchase of finance leases	(12,520,249)	(15,346,019)
Origination and purchases of loans receivable, net of amortization, prepayments and satisfactions	(672,457)	(37,035)
Proceeds from sale of collateralized loans receivable		146,341
Proceeds from sale of leased assets	594,146	100,856
Net cash used in investing activities	(12,598,560)	(15,135,857)
Cash flows from financing activities:
Proceeds from loan payable	13,632,000	10,600,000
Repayments of loan payable	(11,036,628)	(914,926)
Limited Partner capital contributions		5,916,286
Limited Partner distributions	(1,526,858)	(1,803,997)
Limited Partner redemptions		(23,856)
Cash paid for underwriting fees		(332,717)
Cash paid for offering costs		545,974
Net cash provided by financing activities	1,068,514	13,986,764
Net (decrease) increase in cash and cash equivalents	(3,226,284)	1,872,402
Cash and cash equivalents, beginning of year	5,064,943	3,192,541
Cash and cash equivalents, end of year	1,838,659	5,064,943
Supplemental disclosure of other cash flow information:
Cash paid for interest, net of amounts capitalized	752,834
Supplemental disclosure of non-cash investing and financing activities:
Units issued as underwriting fee discount		85,620
Distributions payable to General Partner	12,685	19,430
Distributions payable to Limited Partners	255,362	511,318
Reclassification of investment in finance leases to other assets	7,927,127	2,010,412
Reclassification of investment in equipment subject to operating leases to other assets	219,915
Funding liability for collateralized loans and leases		$ (82,960)

Organization and Nature of Oper

Organization and Nature of Operations	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	1. Organization and Nature of Operations. Organization Nature of Operations The General Partner of the Partnership is ASIF GP, LLC (the “General Partner”), a wholly-owned subsidiary of the Partnership’s Investment Manager. On July 8, 2019, the General Partner changed its name from SQN AIF V GP, LLC to ASIF GP, LLC. Both the Partnership’s General Partner and its Investment Manager are Delaware limited liability companies. On January 7, 2019, the Investment Manager changed its name from SQN Investment Advisors, LLC to Arboretum Investment Advisors, LLC. The General Partner manages and controls the day to day activities and operations of the Partnership, pursuant to the terms of the Limited Partnership Agreement. The General Partner paid an aggregate capital contribution of $100 for a 1% interest in the Partnership’s income, losses and distributions. The Investment Manager makes all investment decisions and manages the investment portfolio of the Partnership. The Partnership’s income, losses and distributions are allocated 99% to the Limited Partners and 1% to the General Partner until the Limited Partners have received total distributions equal to their capital contributions plus an 8% per year, compounded annually, cumulative return on their capital contributions. After such time, all income, losses and distributable cash will be allocated 80% to the Limited Partners and 20% to the General Partner. The Partnership expects to conduct its activities for at least six years and divide the Partnership’s life into three distinct stages: (i) the Offering Period, (ii) the Operating Period and (iii) the Liquidation Period. The Offering Period began on August 11, 2016 and concluded on March 31, 2019. The Operating Period commenced on October 3, 2016, the date of the Partnership’s initial closing, and will last for four years unless extended at the sole discretion of the General Partner. The General Partner extended the Operating Period for an additional year. During the Operating Period, the Partnership will invest most of the net proceeds from its offering in business-essential, revenue-producing (or cost-saving) equipment, other physical assets with substantial economic lives and, in many cases, associated revenue streams and project financings. The Liquidation Period, which follows the conclusion of the Operating Period, is the period in which the Partnership will sell its assets in the ordinary course of business and will last two years, unless it is extended, at the sole discretion of the General Partner. American Elm Distribution Partners, LLC (“American Elm”), a Delaware limited liability company, is affiliated with the General Partner. American Elm acted as the initial selling agent for the offering of the units (“Units”). On January 7, 2019, American Elm changed its name from SQN Securities, LLC to American Elm Distribution Partners, LLC. The Units are offered on a “best efforts,” “minimum-maximum” basis. During the Operating Period, the Partnership plans to make quarterly distributions of cash to the Limited Partners, if, in the opinion of the Partnership’s Investment Manager, such distributions are in the Partnership’s best interests. Therefore, the amount and rate of cash distributions could vary and are not guaranteed. The targeted distribution rate is 6.0% annually, paid quarterly at 1.5%, of each Limited Partner’s capital contribution (pro-rated to the date of admission for each Limited Partner). During the year ended December 31, 2020, we made quarterly cash distributions to our Limited Partners totaling approximately $1,527,000, and we accrued $255,362 for distributions due to Limited Partners which resulted in a distributions payable to Limited Partners of $255,362 at December 31, 2020. During the year ended December 31, 2019, we made quarterly cash distributions to our Limited Partners totaling approximately $1,804,000, and we accrued $511,318 for distributions due to Limited Partners which resulted in a distributions payable to Limited Partners of $511,318 at December 31, 2019. At December 31, 2020 and 2019 we declared and accrued a distribution of $12,685 and $19,430, respectively, for distributions due to our General Partner which resulted in distributions payable to our General Partner of $48,698 and $36,013 at December 31, 2020 and 2019, respectively. On September 11, 2018, the Partnership formed a special purpose entity SQN Lifestyle Leasing, LLC (“Lifestyle Leasing”), a limited liability company registered in the state of Delaware which is wholly owned by the Partnership. On May 24, 2019, the Partnership terminated Lifestyle Leasing. From August 11, 2016 through March 31, 2019, the Partnership admitted 617 Limited Partners with total capital contributions of $25,371,709 resulting in the sale of 2,537,170.91 Units. The Partnership received cash contributions of $24,718,035 and applied $653,674 which would have otherwise been paid as sales commission to the purchase of 65,367.46 additional Units.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies. Basis of Presentation Principles of Consolidation Variable interests are investments or other interests that absorb portions of a variable interest entity’s (“VIE”) expected losses or receive portions of the Partnership’s expected residual returns and are contractual, ownership, or other pecuniary interests in a VIE that change with changes in the fair value of the VIE. An entity is considered to be a VIE if any of the following conditions exist. (1) The total equity investment at risk is insufficient to permit the legal entity to finance its activities without additional subordinated financial support; or (2) As a group, the holders of equity investments at risk lack any of the three characteristics of a controlling financial interest: (a) The direct or indirect ability through voting or similar rights to make decisions that have a significant effect on the success of the legal entity. The equity holders at risk are deemed to lack this characteristic if: i. the voting rights of some investors are not proportional to their obligation to absorb the expected losses of the legal entity or rights to receive expected residual returns; and ii. substantially all of the legal entity’s activities are either involved with or are conducted on behalf of an investor that has disproportionately few voting rights, (b) The obligation to absorb the expected losses of the legal entity or (c) The right to receive the expected residual returns of the legal entity. An entity that is determined to be a VIE is required to be consolidated by its primary beneficiary. The primary beneficiary of a VIE is determined to be the party that has both the power to direct the activities that most significantly affect the VIE’s economic performance (“Power”) and the obligation to absorb losses of, or the right to receive benefits from the VIE, that could potentially be significant to the VIE (“Benefits”). The determination of whether a reporting entity is the primary beneficiary involves complex and subjective analyses. Use of Estimates Cash and Cash Equivalents The Partnership’s cash and cash equivalents are held principally at one financial institution and at times may exceed federally insured limits. The Partnership has placed these funds in a full service commercial financial institution in order to minimize risk relating to exceeding insured limits. Credit Risk Lease Classification and Revenue Recognition The Partnership leases equipment to third parties and each such lease may be classified as either a finance lease or an operating lease. Initial direct costs are capitalized and amortized over the term of the related lease for a finance lease. For an operating lease, initial direct costs are included as a component of the cost of the equipment and depreciated. For finance leases, the Partnership records, at lease inception, the total minimum lease payments receivable from the lessee, the estimated unguaranteed residual value of the equipment upon lease termination, the initial direct costs, if any, related to the lease and the related unearned income. Unearned income represents the difference between the sum of the minimum lease payments receivable plus the estimated unguaranteed residual value, minus the cost of the leased equipment. Unearned income is recognized as finance income over the term of the lease using the effective interest rate method. For operating leases, rental income is recognized on the straight line basis over the lease term. Billed and uncollected operating lease receivables will be included in accounts receivable. Accounts receivable are stated at their estimated net realizable value. Rental income received in advance is the difference between the timing of the cash payments and the income recognized on the straight line basis. The investment committee of the Investment Manager approves each new equipment lease, financing transaction, and lease acquisition. As part of this process it determines the unguaranteed residual value, if any, to be used once the acquisition has been approved. The factors considered in determining the unguaranteed residual value include, but are not limited to, the creditworthiness of the potential lessee, the type of equipment being considered, how the equipment is integrated into the potential lessees’ business, the length of the lease the industry in which the potential lessee operates and the secondary market value of the equipment. Unguaranteed residual values are reviewed for impairment in accordance with the Partnership’s policy relating to impairment review. The residual value assumes, among other things, that the asset will be utilized normally in an open, unrestricted and stable market. Short-term fluctuations in the marketplace are disregarded, and it is assumed that there is no necessity either to dispose of a significant number of the assets, if held in quantity, simultaneously or to dispose of the asset quickly. The residual value is calculated using information from various external sources, such as trade publications, auction data, equipment dealers, wholesalers and industry experts, as well as inspection of the physical asset and other economic indicators. Collateralized Loans Receivable, Net Finance Lease Receivables and Allowance for Loan and Lease Accounts Long-lived Asset Impairments Income Taxes The Partnership is subject to the Bipartisan Budget Act of 2015 (“BBA”), which, among other requirements, stipulates that any tax liability incurred based on an IRS tax examination will become due by the Partnership versus the partners of the Partnership. The Partnership, at its discretion, will be able to seek repayment from its partners or treat as a distribution of the individual partners’ account to satisfy this obligation. The Partnership will treat any liability incurred as a deduction to equity. As of December 31, 2020, there were no expected liabilities to be incurred under the BBA. The Partnership has adopted the provisions of Financial Accounting Standards Board’s (“FASB”) Topic 740, Accounting for Uncertainty in Income Taxes. Per Share Data Foreign Currency Transactions Depreciation Recent Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which requires credit losses on most financial assets measured at amortized cost and certain other instruments to be measured using an expected credit loss model (referred to as the current expected credit loss (CECL) model). Under this model, entities will estimate credit losses over the entire contractual term of the instrument from the date of initial recognition of that instrument. Current US GAAP is based on an incurred loss model that delays recognition of credit losses until it is probable the loss has been incurred. Accordingly, it is anticipated that credit losses will be recognized earlier under the CECL model than under the incurred loss model. ASU 2016-13 was to be effective for fiscal periods beginning after December 15, 2019 and must be adopted as a cumulative effect adjustment to retained earnings. In July 2019, the FASB decided to add a project to its technical agenda to propose staggered effective dates for certain accounting standards, including ASU 2016-13. The FASB has approved an approach that ASU 2016-13 will be effective for Public Business Entities that are SEC filers, excluding smaller reporting companies such as the Partnership, for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. For all other entities, including smaller reporting companies like the Partnership, ASU 2016-13 will be effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. For all entities, early adoption will continue to be permitted; that is, early adoption is allowed for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years (that is, effective January 1, 2019, for calendar-year-end companies). On November 15, 2019, the FASB delayed the effective date of FASB ASC Topic 326 for certain small public companies and other private companies. As amended, the effective date of ASC Topic 326 was delayed until fiscal years beginning after December 15, 2022 for SEC filers that are eligible to be smaller reporting companies under the SEC’s definition, as well as private companies and not-for-profit entities. Nothing in this staff interpretation 3 should be read to accelerate or delay the effective dates of the standard as modified by the FASB. The Partnership is currently evaluating the impact of this guidance on its consolidated financial statements. In February 2016, the FASB issued new guidance to improve consolidation guidance for legal entities, ASU 2016-02, Leases (Topic 842): Amendments to the FASB Accounting Standards Codification (“ASU 2016-02”), effective for fiscal years beginning after December 15, 2018 and interim periods within those years. Early adoption was permitted. ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets, and makes targeted changes to lessor accounting. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Partnership has adopted ASU 2016-02 on January 1, 2019 and determined there was no significant impact on its consolidated financial statements of initial application. Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the consolidated financial statements.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	3. Related Party Transactions. The General Partner is responsible for the operations of the Partnership and the Investment Manager makes all investment decisions and manages the investment portfolio of the Partnership. The Partnership reimburses the General Partner for actual incurred organizational and offering costs not to exceed 1.5% of all capital contributions received by the Partnership. Because organizational and offering expenses will be paid, as and to the extent they are incurred, organizational and offering expenses may be drawn disproportionately to the gross proceeds of each closing. The Offering Period concluded on March 31, 2019 with the Partnership receiving $24,718,035 in total capital contributions and as a result, organizational and offering expenses were limited to $370,770 or 1.5% of total equity raised. The Partnership paid the General Partner an allowance for organizational and offering expenses totaling $926,374, and as a result, the General Partner and/or its Investment Manager were required to reimburse the Partnership organizational and offering expenses of $555,604. At December 31, 2020, the Partnership has a due from its Investment Manager balance of $433,510, which is included in Other Assets in the consolidated balance sheets. At December 31, 2019, the Partnership has a due from its Investment Manager balance of $544,945, which is included in Other Assets in the consolidated balance sheets. The General Partner also has a promotional interest in the Partnership equal to 20% of all distributed distributable cash, after the Partnership has provided an 8% cumulative return, compounded annually, to the Limited Partners on their capital contributions. The General Partner has a 1% interest in the profits, losses and distributions of the Partnership. The General Partner will initially receive 1% of all distributed distributable cash, which was accrued at December 31, 2020 and 2019. The Partnership pays the Investment Manager during the Offering Period, Operating Period and the Liquidation Period a management fee equal to the greater of (i) 2.5% per annum of the aggregate offering proceeds, payable monthly in advance or (ii) $62,500 per month. For the years ended December 31, 2020 and 2019, the Partnership paid $750,000, in management fees to the Investment Manager. The Partnership pays the Investment Manager during the Operating Period a structuring fee in an amount equal to 1.5% of each cash investment made, including reinvestments, payable on the date each such investment is made. For the years ended December 31, 2020 and 2019, the Partnership paid $205,861 and $238,933, respectively, of structuring fees to the Investment Manager. American Elm is a Delaware limited liability company and is a subsidiary of an affiliate of the Partnership’s Investment Manager. American Elm in its capacity as the Partnership’s selling agent receives an underwriting fee of 2% of the gross proceeds from Limited Partners’ capital contributions (excluding proceeds, if any, the Partnership receives from the sale of the Partnership’s Units to the General Partner or its affiliates). While American Elm is initially acting as the Partnership’s exclusive selling agent, the Partnership may engage additional selling agents in the future. For the years ended December 31, 2020 and 2019, the Partnership incurred the following transactions with American Elm: Year Ended December 31, 2020 Year Ended December 31, 2019 Balance - beginning of year $ — $ — Underwriting fees earned by American Elm — 118,326 Payments by the Partnership to American Elm — (118,326 ) Balance - end of year $ — $ — For the years ended December 31, 2020 and 2019, the Partnership incurred the following underwriting fee transactions: Year Ended Year Ended December 31, 2020 December 31, 2019 Underwriting discount incurred by the Partnership $ - $ 85,620 Underwriting fees earned by American Elm - 118,326 Underwriting fees paid to outside brokers - 214,391 Total underwriting fees $ - $ 418,337

Investments in Finance Leases

Investments in Finance Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Investments in Finance Leases	4. Investments in Finance Leases. At December 31, 2020 and 2019, net investments in finance leases consisted of the following: 2020 2019 Minimum rents receivable $ 18,550,416 $ 23,001,407 Estimated unguaranteed residual value 71,616 146,569 Unearned income (2,854,797 ) (4,382,992 ) $ 15,767,235 $ 18,764,984

Investment in Equipment Subject

Investment in Equipment Subject to Operating Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Investment in Equipment Subject to Operating Leases	5. Investment in Equipment Subject to Operating Leases. The composition of the equipment subject to operating leases of the Partnership as of December 31, 2020 is as follows: Description Cost Basis Accumulated Depreciation Reclass to Other Assets Net Book Value Food equipment $ 286,994 $ 286,994 $ - $ - Fabrication Equipment $ 2,010,412 $ 528,667 $ 1,481,745 $ - $ 2,297,406 $ 815,661 $ 1,481,745 $ - The composition of the equipment subject to operating leases of the Partnership as of December 31, 2019 is as follows: Description Cost Basis Accumulated Depreciation Net Book Value Food equipment $ 334,826 $ 284,739 $ 50,087 Fabrication Equipment $ 2,010,412 $ 251,735 $ 1,758,677 $ 2,345,238 $ 536,474 $ 1,808,764 Depreciation expense for the years ended December 31, 2020 and 2019 was $279,186 and $329,146, respectively.

Collateralized Loans Receivable

Collateralized Loans Receivable	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Collateralized Loans Receivable	6. Collateralized Loans Receivable. The Partnership has no allowance for loan losses or nonperforming loans at December 31, 2020 and 2019. The future principal maturities of the Partnership’s performing collateralized loans receivable at December 31, 2020 are as follows: Years ending December 31, 2021 $ 1,478,397 2022 2,150,858 2023 142,384 2024 199,476 2025 11,114 Thereafter — Total $ 3,982,229

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	7. Other Assets. Other assets of $7,294,637 primarily consists of equipment that is off lease and currently being remarketed for release/sale and is primarily made up of $3,006,741 related to infrastructure equipment, $2,705,989 related to telecommunication equipment and $800,000 related to fish processing equipment,.

Loan Payable

Loan Payable	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Loan Payable	8. Loan Payable. On October 18, 2019, the Partnership entered into a loan and security agreement with a third party lender for a $25,000,000 loan facility (of which $20,000,000 is a Term Loan and $5,000,000 is a Revolving Loan) with a maturity date of October 18, 2022. During the years ended December 31, 2020 and 2019, the Partnership borrowed a total of $13,632,000 and $10,600,000, respectively under the Term and Revolver Loans. Interest on the drawn funds shall accrue at a rate of 3 month LIBOR Rate (with a floor of 1%) plus 5.6% per annum (6.6% as of December 31, 2020 and 7.5% as of December 31, 2019). During the years ended December 31, 2020 and 2019, the Partnership repaid total principal of $11,036,628 and $914,926, respectively. The future maturities of the Partnership’s loan payable at December 31, 2020 are as follows: Years ending December 31, 2021 $ — 2022 12,375,581 Total $ 12,375,581

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2020
Investments, All Other Investments [Abstract]
Fair Value of Financial Instruments	9. Fair Value of Financial Instruments. The Partnership’s carrying value of cash and cash equivalents, accounts payable and accrued liabilities, and other liabilities, approximate fair value due to their short term maturities. The Partnership’s carrying values and approximate fair values of its financial instruments were as follows: December 31, 2020 December 31, 2019 Carrying Value Fair Value Carrying Value Fair Value Assets: Collateralized loans receivable $ 3,986,896 $ 3,986,896 $ 3,131,307 $ 3,131,307 Liabilities: Loan payable $ 12,375,581 $ 12,375,581 $ 9,722,177 $ 9,722,177

Income Tax Reconciliation

Income Tax Reconciliation	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Tax Reconciliation	10. Income Tax Reconciliation. As of December 31, 2020 and 2019, total Partners’ Equity included in the consolidated financial statements was $15,192,999 and $18,167,134, respectively. As of December 31, 2020 and 2019, total Partners’ Equity for federal income tax purposes was $19,177,248 and $20,661,855. The primary differences are organizational and offering expenses and distribution expenses, which are a reduction in Limited Partners’ capital accounts for financial reporting purposes but not for federal income tax reporting purposes and differences in depreciation and amortization for financial reporting purposes and federal income tax purposes. The Partnership is subject to the Bipartisan Budget Act of 2015 (“BBA”), which, among other requirements, stipulates that any tax liability incurred based on an IRS tax examination will become due by the Partnership versus the partners of the Partnership. The Partnership, at its discretion, will be able to seek repayment from its partners or treat as a distribution of the individual partners’ account to satisfy this obligation. The Partnership will treat any liability incurred as a deduction to equity. As of December 31, 2020, there were no expected liabilities to be incurred under the BBA. The following table reconciles the net income (loss) for financial statement reporting purposes to the net income for federal income tax purposes for the years ended December 31, 2020 and 2019: For the Year Ended For the Year Ended December 31, 2020 December 31, 2019 Net (loss) income per consolidated financial statements $ (1,690,548 ) $ 175,174 Depreciation and amortization (915,742 ) (79,739 ) Advanced rental payments 9,293 (218,714 ) Gain on fixed assets 19,844 — Provision for loan and lease losses 1,592,055 — Loan origination fees 102,218 406,932 Amortization of loan origination fees (171,721 ) (22,607 ) Tax lease adjustments 1,523,205 89,138 Loan non-accruals — (24,804 ) Net income for federal income tax purposes $ 468,604 $ 325,380

Indemnifications

Indemnifications	12 Months Ended
	Dec. 31, 2020
Description of management fee
Indemnifications	11. Indemnifications. The Partnership enters into contracts that contain a variety of indemnifications. The Partnership’s maximum exposure under these arrangements is not known. In the normal course of business, the Partnership enters into contracts of various types, including lease contracts, contracts for the sale or purchase of lease assets, loan agreements and management contracts. It is prevalent industry practice for most contracts of any significant value to include provisions that each of the contracting parties, in addition to assuming liability for breaches of the representations, warranties, and covenants that are part of the underlying contractual obligations, to also assume an obligation to indemnify and hold the other contractual party harmless for such breaches, and for harm caused by such party’s gross negligence and willful misconduct, including, in certain instances, certain costs and expenses arising from the contract. Generally, to the extent these contracts are performed in the ordinary course of business under the reasonable business judgment of the General Partner and the Investment Manager, no liability will arise as a result of these provisions. The General Partner and Investment Manager knows of no facts or circumstances that would make the Partnership’s contractual commitments outside standard mutual covenants applicable to commercial transactions between businesses. Accordingly, the Partnership believes that these indemnification obligations are made in the ordinary course of business as part of standard commercial and industry practice, and that any potential liability under the Partnership’s similar commitments is remote. Should any such indemnification obligation become payable, the Partnership would separately record and/or disclose such liability in accordance with U.S. GAAP.

Selected Quarterly Financial Da

Selected Quarterly Financial Data	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data	12. Selected Quarterly Financial Data. The following table is a summary of selected financial data, by quarter: Quarterly Information (unaudited) Year Ended March 31, June 30, September 30, December 31, December 31, 2020 Revenue, net $ 891,087 $ 816,462 $ 800,993 $ (1,579,484 ) $ 929,058 Net income (loss) allocable to Limited Partners $ 224,681 $ 184,584 $ 147,446 $ (2,230,354 ) $ (1,673,643 ) Weighted average number of limited partnership interests outstanding 2,532,772.53 2,532,772.53 2,532,772.53 2,532,772.53 2,532,772.53 Net income (loss) attributable to Limited Partners per weighted average number of limited partnership interest outstanding $ 0.09 $ 0.07 $ 0.06 $ (0.88 ) $ (0.66 ) Quarterly Information (unaudited) Year Ended March 31, June 30, September 30, December 31, December 31, 2019 Revenue, net $ 433,986 $ 468,274 $ 688,197 $ 669,424 $ 2,259,881 Net income (loss) allocable to Limited Partners $ 107,350 $ (19,868 ) $ 312,797 $ (226,857 ) $ 173,422 Weighted average number of limited partnership interests outstanding 3,447,824.20 2,535,672.53 2,535,672.53 2,535,546.44 1,302,315.04 Net income (loss) attributable to Limited Partners per weighted average number of limited partnership interest outstanding $ 0.03 $ (0.01 ) $ 0.12 $ (0.09 ) $ 0.13

Business Concentrations

Business Concentrations	12 Months Ended
	Dec. 31, 2020
Risks and Uncertainties [Abstract]
Business Concentrations	13. Business Concentrations. For the year ended December 31, 2020, the Partnership had one lessees which accounted for approximately 95% of the Partnership’s rental income derived from operating leases. For the year ended December 31, 2019, the Partnership had two lessees which accounted for approximately 74% and 26% of the Partnership’s rental income derived from operating leases. For the year ended December 31, 2020, the Partnership had four leases which accounted for approximately 15%, 13%, 12% and 10% of the Partnership’s income derived from finance leases. For the year ended December 31, 2019, the Partnership had two leases which accounted for approximately 24% and 20% of the Partnership’s income derived from finance leases. For the year ended December 31, 2020, the Partnership had two promissory notes which accounted for approximately 60% and 21% of the Partnership’s interest income derived from collateralized loans receivable. For the year ended December 31, 2019, the Partnership had two promissory notes which accounted for approximately 56% and 38% of the Partnership’s interest income derived from collateralized loans receivable. At December 31, 2020, the Partnership had three lessees which accounted for approximately 16%, 15%, and 15%, of the Partnership’s investment in finance leases. At December 31, 2019, the Partnership had three lessees which accounted for approximately 19%, 16%, and 14%, of the Partnership’s investment in finance leases. At December 31, 2020, the Partnership had no investment in operating leases. At December 31, 2019, the Partnership had one lessee which accounted for approximately 97% of the Partnership’s investment in operating leases. At December 31, 2020, the Partnership had three promissory notes which accounted for approximately 59%, 16% and 11% of the Partnership’s investment in collateralized loans receivable. At December 31, 2019, the Partnership had two promissory notes which accounted for approximately 64% and 34% of the Partnership’s investment in collateralized loans receivable.

Geographic Information

Geographic Information	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Geographic Information	14. Geographic Information. Geographic information for revenue for the years ended December 31, 2020 and 2019: Year Ended December 31, 2020 United States Total Revenue: Rental income $ 296,368 $ 296,368 Finance income $ 2,418,960 $ 2,418,960 Interest income $ 520,775 $ 520,775 Year Ended December 31, 2019 United States Total Revenue: Rental income $ 419,024 $ 419,024 Finance income $ 1,403,049 $ 1,403,049 Interest income $ 437,120 $ 437,120 Geographic information for long-lived assets at December 31, 2020 and 2019 was as follows: December 31, 2020 United States Total Long-lived assets: Investment in finance leases, net $ 15,767,235 $ 15,767,235 Collateralized loan receivable, including accrued interest $ 3,986,896 $ 3,986,896 December 31, 2019 United States Total Long-lived assets: Investment in finance leases, net $ 18,764,984 $ 18,764,984 Investments in equipment subject to operating leases, net $ 1,808,764 $ 1,808,764 Collateralized loan receivable, including accrued interest $ 3,131,307 $ 3,131,307

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. Commitments and Contingencies. As of December 31, 2020, the Partnership does not have any unfunded commitments for any investments.

COVID-19

COVID-19	12 Months Ended
	Dec. 31, 2020
Covid-19
COVID-19	16. COVID-19. In December 2019, a novel strain of coronavirus (also known as COVID-19) was reported to have surfaced in Wuhan, China. In January 2020, this coronavirus spread to other countries, including the United States and Europe. The outbreak has continued to spread and is currently classified as a pandemic. Efforts to contain the spread of this coronavirus has intensified. To date, COVID-19 has had a negative impact on our business and an impairment loss of $1,592,055 was recorded as a result of that impact. Although the Partnership currently expects that the disruptive impact of coronavirus on its business will be temporary, this situation continues to evolve and improve and therefore the Partnership doesn’t think that the coronavirus will directly or indirectly have a continued negative effect on its business and operating results.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events. On January 28, 2021, the Partnership received cash of $625,854 as total payoff, in connection with the loan agreement entered into on December 11, 2018. The loan had an outstanding balance of $602,129 resulting in additional income of $23,725. On March 12, 2021, the Partnership funded $750,000 for a lease facility of a welding system with a company based in Louisiana. The finance lease requires 42 monthly payments of $29,120. The lease is secured by a first priority lien against the welding system. On March 22, 2021, the Partnership funded $2,218,258 for a lease facility for glass manufacturing equipment with a company based in Kentucky. The finance lease requires 36 monthly payments of $70,912. The lease is secured by a first priority lien against the glass manufacturing equipment.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
Principles of Consolidation	Principles of Consolidation Variable interests are investments or other interests that absorb portions of a variable interest entity’s (“VIE”) expected losses or receive portions of the Partnership’s expected residual returns and are contractual, ownership, or other pecuniary interests in a VIE that change with changes in the fair value of the VIE. An entity is considered to be a VIE if any of the following conditions exist. (1) The total equity investment at risk is insufficient to permit the legal entity to finance its activities without additional subordinated financial support; or (2) As a group, the holders of equity investments at risk lack any of the three characteristics of a controlling financial interest: (a) The direct or indirect ability through voting or similar rights to make decisions that have a significant effect on the success of the legal entity. The equity holders at risk are deemed to lack this characteristic if: i. the voting rights of some investors are not proportional to their obligation to absorb the expected losses of the legal entity or rights to receive expected residual returns; and ii. substantially all of the legal entity’s activities are either involved with or are conducted on behalf of an investor that has disproportionately few voting rights, (b) The obligation to absorb the expected losses of the legal entity or (c) The right to receive the expected residual returns of the legal entity. An entity that is determined to be a VIE is required to be consolidated by its primary beneficiary. The primary beneficiary of a VIE is determined to be the party that has both the power to direct the activities that most significantly affect the VIE’s economic performance (“Power”) and the obligation to absorb losses of, or the right to receive benefits from the VIE, that could potentially be significant to the VIE (“Benefits”). The determination of whether a reporting entity is the primary beneficiary involves complex and subjective analyses.
Use of Estimates	Use of Estimates
Cash and Cash Equivalents	Cash and Cash Equivalents The Partnership’s cash and cash equivalents are held principally at one financial institution and at times may exceed federally insured limits. The Partnership has placed these funds in a full service commercial financial institution in order to minimize risk relating to exceeding insured limits.
Credit Risk	Credit Risk
Lease Classification and Revenue Recognition	Lease Classification and Revenue Recognition The Partnership leases equipment to third parties and each such lease may be classified as either a finance lease or an operating lease. Initial direct costs are capitalized and amortized over the term of the related lease for a finance lease. For an operating lease, initial direct costs are included as a component of the cost of the equipment and depreciated. For finance leases, the Partnership records, at lease inception, the total minimum lease payments receivable from the lessee, the estimated unguaranteed residual value of the equipment upon lease termination, the initial direct costs, if any, related to the lease and the related unearned income. Unearned income represents the difference between the sum of the minimum lease payments receivable plus the estimated unguaranteed residual value, minus the cost of the leased equipment. Unearned income is recognized as finance income over the term of the lease using the effective interest rate method. For operating leases, rental income is recognized on the straight line basis over the lease term. Billed and uncollected operating lease receivables will be included in accounts receivable. Accounts receivable are stated at their estimated net realizable value. Rental income received in advance is the difference between the timing of the cash payments and the income recognized on the straight line basis. The investment committee of the Investment Manager approves each new equipment lease, financing transaction, and lease acquisition. As part of this process it determines the unguaranteed residual value, if any, to be used once the acquisition has been approved. The factors considered in determining the unguaranteed residual value include, but are not limited to, the creditworthiness of the potential lessee, the type of equipment being considered, how the equipment is integrated into the potential lessees’ business, the length of the lease the industry in which the potential lessee operates and the secondary market value of the equipment. Unguaranteed residual values are reviewed for impairment in accordance with the Partnership’s policy relating to impairment review. The residual value assumes, among other things, that the asset will be utilized normally in an open, unrestricted and stable market. Short-term fluctuations in the marketplace are disregarded, and it is assumed that there is no necessity either to dispose of a significant number of the assets, if held in quantity, simultaneously or to dispose of the asset quickly. The residual value is calculated using information from various external sources, such as trade publications, auction data, equipment dealers, wholesalers and industry experts, as well as inspection of the physical asset and other economic indicators.
Collateralized Loans Receivable, Net	Collateralized Loans Receivable, Net
Finance Lease Receivables and Allowance for Loan and Lease Accounts	Finance Lease Receivables and Allowance for Loan and Lease Accounts
Long-lived Asset Impairments	Long-lived Asset Impairments
Income Taxes	Income Taxes The Partnership is subject to the Bipartisan Budget Act of 2015 (“BBA”), which, among other requirements, stipulates that any tax liability incurred based on an IRS tax examination will become due by the Partnership versus the partners of the Partnership. The Partnership, at its discretion, will be able to seek repayment from its partners or treat as a distribution of the individual partners’ account to satisfy this obligation. The Partnership will treat any liability incurred as a deduction to equity. As of December 31, 2020, there were no expected liabilities to be incurred under the BBA. The Partnership has adopted the provisions of Financial Accounting Standards Board’s (“FASB”) Topic 740, Accounting for Uncertainty in Income Taxes.
Per Share Data	Per Share Data
Foreign Currency Transactions	Foreign Currency Transactions
Depreciation	Depreciation
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which requires credit losses on most financial assets measured at amortized cost and certain other instruments to be measured using an expected credit loss model (referred to as the current expected credit loss (CECL) model). Under this model, entities will estimate credit losses over the entire contractual term of the instrument from the date of initial recognition of that instrument. Current US GAAP is based on an incurred loss model that delays recognition of credit losses until it is probable the loss has been incurred. Accordingly, it is anticipated that credit losses will be recognized earlier under the CECL model than under the incurred loss model. ASU 2016-13 was to be effective for fiscal periods beginning after December 15, 2019 and must be adopted as a cumulative effect adjustment to retained earnings. In July 2019, the FASB decided to add a project to its technical agenda to propose staggered effective dates for certain accounting standards, including ASU 2016-13. The FASB has approved an approach that ASU 2016-13 will be effective for Public Business Entities that are SEC filers, excluding smaller reporting companies such as the Partnership, for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. For all other entities, including smaller reporting companies like the Partnership, ASU 2016-13 will be effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. For all entities, early adoption will continue to be permitted; that is, early adoption is allowed for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years (that is, effective January 1, 2019, for calendar-year-end companies). On November 15, 2019, the FASB delayed the effective date of FASB ASC Topic 326 for certain small public companies and other private companies. As amended, the effective date of ASC Topic 326 was delayed until fiscal years beginning after December 15, 2022 for SEC filers that are eligible to be smaller reporting companies under the SEC’s definition, as well as private companies and not-for-profit entities. Nothing in this staff interpretation 3 should be read to accelerate or delay the effective dates of the standard as modified by the FASB. The Partnership is currently evaluating the impact of this guidance on its consolidated financial statements. In February 2016, the FASB issued new guidance to improve consolidation guidance for legal entities, ASU 2016-02, Leases (Topic 842): Amendments to the FASB Accounting Standards Codification (“ASU 2016-02”), effective for fiscal years beginning after December 15, 2018 and interim periods within those years. Early adoption was permitted. ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets, and makes targeted changes to lessor accounting. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Partnership has adopted ASU 2016-02 on January 1, 2019 and determined there was no significant impact on its consolidated financial statements of initial application. Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the consolidated financial statements.

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Schedule of Partnership Incurred Transactions with Securities	For the years ended December 31, 2020 and 2019, the Partnership incurred the following transactions with American Elm: Year Ended December 31, 2020 Year Ended December 31, 2019 Balance - beginning of year $ — $ — Underwriting fees earned by American Elm — 118,326 Payments by the Partnership to American Elm — (118,326 ) Balance - end of year $ — $ —
Schedule of Partnership Underwriting Fee Transactions	For the years ended December 31, 2020 and 2019, the Partnership incurred the following underwriting fee transactions: Year Ended Year Ended December 31, 2020 December 31, 2019 Underwriting discount incurred by the Partnership $ - $ 85,620 Underwriting fees earned by American Elm - 118,326 Underwriting fees paid to outside brokers - 214,391 Total underwriting fees $ - $ 418,337

Investments in Finance Leases (

Investments in Finance Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Net Investments in Finance Leases	At December 31, 2020 and 2019, net investments in finance leases consisted of the following: 2020 2019 Minimum rents receivable $ 18,550,416 $ 23,001,407 Estimated unguaranteed residual value 71,616 146,569 Unearned income (2,854,797 ) (4,382,992 ) $ 15,767,235 $ 18,764,984

Investment in Equipment Subje_2

Investment in Equipment Subject to Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Composition of Equipment Subject to Operating Leases of Partnership	The composition of the equipment subject to operating leases of the Partnership as of December 31, 2020 is as follows: Description Cost Basis Accumulated Depreciation Reclass to Other Assets Net Book Value Food equipment $ 286,994 $ 286,994 $ - $ - Fabrication Equipment $ 2,010,412 $ 528,667 $ 1,481,745 $ - $ 2,297,406 $ 815,661 $ 1,481,745 $ - The composition of the equipment subject to operating leases of the Partnership as of December 31, 2019 is as follows: Description Cost Basis Accumulated Depreciation Net Book Value Food equipment $ 334,826 $ 284,739 $ 50,087 Fabrication Equipment $ 2,010,412 $ 251,735 $ 1,758,677 $ 2,345,238 $ 536,474 $ 1,808,764

Collateralized Loans Receivab_2

Collateralized Loans Receivable (Tables)	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Schedule of Future Principal Maturities	The future principal maturities of the Partnership’s performing collateralized loans receivable at December 31, 2020 are as follows: Years ending December 31, 2021 $ 1,478,397 2022 2,150,858 2023 142,384 2024 199,476 2025 11,114 Thereafter — Total $ 3,982,229

Loan Payable (Tables)

Loan Payable (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Future Maturities of Loan Payable	The future maturities of the Partnership’s loan payable at December 31, 2020 are as follows: Years ending December 31, 2021 $ — 2022 12,375,581 Total $ 12,375,581

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Investments, All Other Investments [Abstract]
Schedule of Fair Values of Financial Instruments	The Partnership’s carrying values and approximate fair values of its financial instruments were as follows: December 31, 2020 December 31, 2019 Carrying Value Fair Value Carrying Value Fair Value Assets: Collateralized loans receivable $ 3,986,896 $ 3,986,896 $ 3,131,307 $ 3,131,307 Liabilities: Loan payable $ 12,375,581 $ 12,375,581 $ 9,722,177 $ 9,722,177

Income Tax Reconciliation (Tabl

Income Tax Reconciliation (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Net Loss for Federal Income Tax Purposes	The following table reconciles the net income (loss) for financial statement reporting purposes to the net income for federal income tax purposes for the years ended December 31, 2020 and 2019: For the Year Ended For the Year Ended December 31, 2020 December 31, 2019 Net (loss) income per consolidated financial statements $ (1,690,548 ) $ 175,174 Depreciation and amortization (915,742 ) (79,739 ) Advanced rental payments 9,293 (218,714 ) Gain on fixed assets 19,844 — Provision for loan and lease losses 1,592,055 — Loan origination fees 102,218 406,932 Amortization of loan origination fees (171,721 ) (22,607 ) Tax lease adjustments 1,523,205 89,138 Loan non-accruals — (24,804 ) Net income for federal income tax purposes $ 468,604 $ 325,380

Selected Quarterly Financial _2

Selected Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	The following table is a summary of selected financial data, by quarter: Quarterly Information (unaudited) Year Ended March 31, June 30, September 30, December 31, December 31, 2020 Revenue, net $ 891,087 $ 816,462 $ 800,993 $ (1,579,484 ) $ 929,058 Net income (loss) allocable to Limited Partners $ 224,681 $ 184,584 $ 147,446 $ (2,230,354 ) $ (1,673,643 ) Weighted average number of limited partnership interests outstanding 2,532,772.53 2,532,772.53 2,532,772.53 2,532,772.53 2,532,772.53 Net income (loss) attributable to Limited Partners per weighted average number of limited partnership interest outstanding $ 0.09 $ 0.07 $ 0.06 $ (0.88 ) $ (0.66 ) Quarterly Information (unaudited) Year Ended March 31, June 30, September 30, December 31, December 31, 2019 Revenue, net $ 433,986 $ 468,274 $ 688,197 $ 669,424 $ 2,259,881 Net income (loss) allocable to Limited Partners $ 107,350 $ (19,868 ) $ 312,797 $ (226,857 ) $ 173,422 Weighted average number of limited partnership interests outstanding 3,447,824.20 2,535,672.53 2,535,672.53 2,535,546.44 1,302,315.04 Net income (loss) attributable to Limited Partners per weighted average number of limited partnership interest outstanding $ 0.03 $ (0.01 ) $ 0.12 $ (0.09 ) $ 0.13

Geographic Information (Tables)

Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of Geographic Information for Revenue	Geographic information for revenue for the years ended December 31, 2020 and 2019: Year Ended December 31, 2020 United States Total Revenue: Rental income $ 296,368 $ 296,368 Finance income $ 2,418,960 $ 2,418,960 Interest income $ 520,775 $ 520,775 Year Ended December 31, 2019 United States Total Revenue: Rental income $ 419,024 $ 419,024 Finance income $ 1,403,049 $ 1,403,049 Interest income $ 437,120 $ 437,120
Schedule of Geographic Information for Long-lived Assets	Geographic information for long-lived assets at December 31, 2020 and 2019 was as follows: December 31, 2020 United States Total Long-lived assets: Investment in finance leases, net $ 15,767,235 $ 15,767,235 Collateralized loan receivable, including accrued interest $ 3,986,896 $ 3,986,896 December 31, 2019 United States Total Long-lived assets: Investment in finance leases, net $ 18,764,984 $ 18,764,984 Investments in equipment subject to operating leases, net $ 1,808,764 $ 1,808,764 Collateralized loan receivable, including accrued interest $ 3,131,307 $ 3,131,307

Organization and Nature of Op_2

Organization and Nature of Operations (Details Narrative)	12 Months Ended		32 Months Ended
	Dec. 31, 2020USD ($)Integer	Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)Integershares
Number of business segment | Integer	1
Distributions payable to limited partners	$ 255,362	$ 511,318
Distributions payable to general partner	48,698	36,013
Partners' capital contributions		6,001,906
Partners received cash contributions		5,916,286
Limited Partner [Member]
Partners' capital contributions		6,001,906
General Partner [Member]
Accrued for distributions due to partners	12,685	19,430
Partners' capital contributions
Limited Partners [Member]
Targeted distribution, description	The targeted distribution rate is 6.0% annually, paid quarterly at 1.5%, of each Limited Partner's capital contribution (pro-rated to the date of admission for each Limited Partner).
Targeted distribution rate, percentage	6.00%
Targeted distribution rate, quarterly	1.50%
Distribution payable to limited partners quarterly	$ 1,527,000	1,804,000
Accrued for distributions due to partners	255,362	511,318
Distributions payable to limited partners	255,362	$ 511,318
Number of partners | Integer			617
Partners' capital contributions			$ 25,371,709
Partners' capital contributions, shares | shares			2,537,170.91
Partners received cash contributions			$ 24,718,035
Additional units purchased during the period, value			$ 653,674
Additional units purchased during the period | shares			65,367.46
ASIF GP, LLC [Member]
Partnership contribution	$ 100
Percentage of ownership	1.00%
ASIF GP, LLC [Member] | Limited Partner [Member]
Partnership interest	99.00%
Percentage of cumulative return on capital contributions	8.00%
Percentage of distributable cash allocated	80.00%
ASIF GP, LLC [Member] | General Partner [Member]
Partnership interest	1.00%
Percentage of distributable cash allocated	20.00%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Provision for lease, note and loan losses	$ 1,592,055

Related Party Transactions (Det

Related Party Transactions (Details Narrative)	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Percentage of organizational and offering cost	1.50%
Partner capital contributions		$ 6,001,906
Offering expenses	370,770
General partners offering expenses	926,374
Partners balance capital	$ 433,510	$ 544,945
Percentage of distributed cash	20.00%
Percentage of capital contributions	8.00%
Percentage of interest in profit, losses and distributions of partnership	1.00%
Percentage of all distributed distributable cash	1.00%	1.00%
Management fee expense	$ 750,000	$ 750,000
Investment Manager [Member]
Partner capital contributions	$ 24,718,035
Partner equity raised percentage	0.015
Repayment of partners offering expenses	$ 555,604
Description of management fee	The Partnership pays the Investment Manager during the Offering Period, Operating Period and the Liquidation Period a management fee equal to the greater of (i) 2.5% per annum of the aggregate offering proceeds, payable monthly in advance or (ii) $62,500 per month.
Management fee equal to percentage of per annum of the aggregate offering proceeds	2.50%
Management fee per month, value	$ 62,500
Management fee expense	$ 750,000	750,000
Structuring fee amount percentage	1.50%
Structuring fee	$ 205,861	$ 238,933
Underwriting fee percentage	2.00%

Related Party Transactions - Sc

Related Party Transactions - Schedule of Partnership Incurred Transactions with Securities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Related Party Transactions [Abstract]
Balance - beginning of period
Underwriting fees earned by American Elm		118,326
Payments by the Partnership to American Elm		(118,326)
Balance - end of period

Related Party Transactions - _2

Related Party Transactions - Schedule of Partnership Underwriting Fee Transactions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Related Party Transactions [Abstract]
Underwriting discount incurred by the Partnership		$ 85,620
Underwriting fees earned by American Elm		118,326
Underwriting fees paid to outside brokers		214,391
Total underwriting fees		$ 418,337

Investments in Finance Leases -

Investments in Finance Leases - Schedule of Net Investments in Finance Leases (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Minimum rents receivable	$ 18,550,416	$ 23,001,407
Estimated unguaranteed residual value	71,616	146,569
Unearned income	(2,854,797)	(4,382,992)
Total	$ 15,767,235	$ 18,764,984

Investment in Equipment Subje_3

Investment in Equipment Subject to Operating Leases (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Depreciation expense	$ 279,186	$ 329,146

Investment in Equipment Subje_4

Investment in Equipment Subject to Operating Leases - Schedule of Composition of Equipment Subject to Operating Leases of Partnership (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Cost Basis	$ 2,297,406	$ 2,345,238
Accumulated Depreciation	815,661	536,474
Reclass to Other Assets	1,481,745
Net Book Value		1,808,764
Food Equipment [Member]
Cost Basis	286,994	334,826
Accumulated Depreciation	286,994	284,739
Reclass to Other Assets
Net Book Value		50,087
Fabrication Equipment [Member]
Cost Basis	2,010,412	2,010,412
Accumulated Depreciation	528,667	251,735
Reclass to Other Assets	1,481,745
Net Book Value		$ 1,758,677

Collateralized Loans Receivab_3

Collateralized Loans Receivable - Schedule of Future Principal Maturities (Details)	Dec. 31, 2020USD ($)
Receivables [Abstract]
2021	$ 1,478,397
2022	2,150,858
2023	142,384
2024	199,476
2025	11,114
Thereafter
Total	$ 3,982,229

Other Assets (Details Narrative

Other Assets (Details Narrative) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Other assets	$ 7,294,637	$ 575,028
Infrastructure Equipment [Member]
Other assets	3,006,741
Telecommunication Equipment [Member]
Other assets	2,705,989
Fish Processing Equipment [Member]
Other assets	$ 800,000

Loan Payable (Details Narrative

Loan Payable (Details Narrative) - Loan And Security Agreement [Member] - USD ($)	Oct. 18, 2019	Dec. 31, 2020	Dec. 31, 2019
Line of credit maximum borrowing capacity	$ 25,000,000
Line of credit maturity date	Oct. 18, 2022
Partnership borrowed amount		$ 13,632,000	$ 10,600,000
Repaid principal		$ 11,036,628	$ 914,926
Floor [Member]
Variable interest rate	1.00%
LIBOR [Member]
Debt instrument description	Interest on the drawn funds shall accrue at a rate of 3 month LIBOR Rate plus 5.6% per annum (6.6% as of December 31, 2020 and 7.5% as of December 31, 2019).
Variable interest rate	5.60%	6.60%	7.50%
Revolving Loan [Member]
Line of credit maximum borrowing capacity	$ 5,000,000
Term Loan [Member]
Line of credit maximum borrowing capacity	$ 20,000,000

Loan Payable - Schedule of Futu

Loan Payable - Schedule of Future Maturities of Loan Payable (Details)	Dec. 31, 2020USD ($)
Debt Disclosure [Abstract]
2021
2022	12,375,581
Total	$ 12,375,581

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Fair Values of Financial Instruments (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Liabilities: Loan payable	$ 12,375,581
Carrying Value [Member]
Assets: Collateralized loans receivable	3,986,896	$ 3,131,307
Liabilities: Loan payable	12,375,581	9,722,177
Fair Value [Member]
Assets: Collateralized loans receivable	3,986,896	3,131,307
Liabilities: Loan payable	$ 12,375,581	$ 9,722,177

Income Tax Reconciliation (Deta

Income Tax Reconciliation (Details Narrative) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Partners' equity	$ 15,192,999	$ 18,167,134	$ 13,850,728
Partners' equity for federal income tax	$ 19,177,248	$ 20,661,855

Income Tax Reconciliation - Sch

Income Tax Reconciliation - Schedule of Net Loss for Federal Income Tax Purposes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Net income (loss) per consolidated financial statements	$ (1,690,548)	$ 175,174
Depreciation and amortization	(915,742)	(79,739)
Advanced rental payments	9,293	(218,714)
Gain on fixed assets	19,844
Provision for loan and lease losses	1,592,055
Loan origination fees	102,218	406,932
Amortization of loan origination fees	(171,721)	(22,607)
Tax lease adjustments	1,592,055
Loan non-accruals		(24,804)
Net income for federal income tax purposes	$ 468,604	$ 325,380

Selected Quarterly Financial _3

Selected Quarterly Financial Data - Schedule of Quarterly Financial Information (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Revenue, net	$ (1,579,484)	$ 800,993	$ 816,462	$ 891,087	$ 669,424	$ 688,197	$ 468,274	$ 433,986	$ 929,058	$ 2,259,881
Net income (loss) allocable to Limited Partners	$ (2,230,354)	$ 147,446	$ 184,584	$ 224,681	$ (226,857)	$ 312,797	$ (19,868)	$ 107,350	$ (1,673,643)	$ 173,422
Weighted average number of limited partnership interests outstanding	2,532,772.53	2,532,772.53	2,532,772.53	2,532,772.53	2,535,546.44	2,535,672.53	2,535,672.53	3,447,824.20	2,532,772.53	1,302,315.04
Net income (loss) attributable to Limited Partners per weighted average number of limited partnership interest outstanding	$ (0.88)	$ 0.06	$ 0.07	$ 0.09	$ (0.09)	$ 0.12	$ (0.01)	$ 0.03	$ (0.66)	$ 0.13

Business Concentrations (Detail

Business Concentrations (Details Narrative)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Interest Income [Member] | Promissory Note One [Member]
Concentration credit risk percentage	60.00%	56.00%
Interest Income [Member] | Promissory Note Two [Member]
Concentration credit risk percentage	21.00%	38.00%
Investment in Collateralized Loans Receivable [Member] | Promissory Note One [Member]
Concentration credit risk percentage	59.00%	64.00%
Investment in Collateralized Loans Receivable [Member] | Promissory Note Two [Member]
Concentration credit risk percentage	16.00%	34.00%
Investment in Collateralized Loans Receivable [Member] | Promissory Note Three [Member]
Concentration credit risk percentage	11.00%
Lessee 1 [Member] | Rental Income Operating Leases [Member]
Concentration credit risk percentage	95.00%	74.00%
Lessee 1 [Member] | Investment in Finance Leases [Member]
Concentration credit risk percentage	16.00%
Lessee 1 [Member] | Investment in Finance Leases [Member]
Concentration credit risk percentage		19.00%
Lessee 1 [Member] | Investment in Operating Leases [Member]
Concentration credit risk percentage		97.00%
Lessee 2 [Member] | Rental Income Operating Leases [Member]
Concentration credit risk percentage		26.00%
Lessee 2 [Member] | Finance Leases [Member]
Concentration credit risk percentage		20.00%
Lessee 2 [Member] | Investment in Finance Leases [Member]
Concentration credit risk percentage	15.00%
Lessee 2 [Member] | Investment in Finance Leases [Member]
Concentration credit risk percentage		16.00%
Leases 1 [Member] | Finance Leases [Member]
Concentration credit risk percentage	15.00%	24.00%
Leases 2 [Member] | Finance Leases [Member]
Concentration credit risk percentage	13.00%
Leases 3 [Member] | Finance Leases [Member]
Concentration credit risk percentage	12.00%
Leases 4 [Member] | Finance Leases [Member]
Concentration credit risk percentage	10.00%
Lessee 3 [Member] | Investment in Finance Leases [Member]
Concentration credit risk percentage	15.00%
Lessee 3 [Member] | Investment in Finance Leases [Member]
Concentration credit risk percentage		14.00%

Geographic Information - Schedu

Geographic Information - Schedule of Geographic Information for Revenue (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Rental income	$ 296,368	$ 419,024
Finance income	2,418,960	1,403,049
Interest income	520,775	437,120
United States [Member]
Rental income	296,368	419,024
Finance income	2,418,960	1,403,049
Interest income	$ 520,775	$ 437,120

Geographic Information - Sche_2

Geographic Information - Schedule of Geographic Information for Long-lived Assets (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Investment in finance leases, net	$ 15,767,235	$ 18,764,984
Investments in equipment subject to operating leases, net		1,808,764
Collateralized loan receivable, including accrued interest	3,986,896	3,131,307
United States [Member]
Investment in finance leases, net	15,767,235	18,764,984
Investments in equipment subject to operating leases, net		1,808,764
Collateralized loan receivable, including accrued interest	$ 3,986,896	$ 3,131,307

COVID-19 (Details Narrative)

COVID-19 (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Covid-19
Impairment loss	$ 1,592,055

Subsequent Events (Details Narr

Subsequent Events (Details Narrative)	Mar. 22, 2021USD ($)Integer	Mar. 12, 2021USD ($)Integer	Jan. 28, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Loan outstanding balance				$ 3,986,896	$ 3,131,307
Subsequent Event [Member] | Louisiana [Member]
Finance lease funded by partnership		$ 750,000
Number of monthly lease payments | Integer		42
Monthly payments		$ 29,120
Subsequent Event [Member] | Kentucky [Member]
Finance lease funded by partnership	$ 2,218,258
Number of monthly lease payments | Integer	36
Monthly payments	$ 70,912
Subsequent Event [Member] | Loan Agreement [Member]
Loan outstanding balance			$ 602,129
Subsequent Event [Member] | Loan Agreement [Member]
Proceeds from debt			625,854
Additional income from loan			$ 23,725