Aei Income & Growth Fund XXI LTD Partnership (XXAAU) 10-Q 12 Aug 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Jul. 31, 2024
Document Information Line Items
Entity Registrant Name	AEI INCOME & GROWTH FUND XXI LIMITED PARTNERSHIP
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		17,076.71
Amendment Flag	false
Entity Central Index Key	0000931755
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Entity File Number	000-29274
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-1789725
Entity Address, Address Line One	30 East 7th Street, Suite 1300
Entity Address, City or Town	St. Paul
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55101
City Area Code	651
Local Phone Number	227-7333
No Trading Symbol Flag	true
Security Exchange Name	NONE
Title of 12(g) Security	Limited Partnership
Entity Interactive Data Current	Yes
Document Transition Report	false

Balance Sheet

Balance Sheet - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current Assets:
Cash	$ 160,662	$ 180,560
Real Estate Investments:
Land	3,447,796	3,447,796
Buildings	9,825,615	9,825,615
Acquired Intangible Lease Assets	864,490	864,490
Real Estate Held for Investment, at Cost	14,137,901	14,137,901
Accumulated Depreciation and Amortization	(4,065,108)	(3,808,959)
Real Estate Held for Investment, Net	10,072,793	10,328,942
Total Assets	10,233,455	10,509,502
Current Liabilities:
Payable to AEI Fund Management, Inc.	69,307	101,262
Distributions Payable	173,233	173,233
Unearned Rent	9,167	0
Total Current Liabilities	251,707	274,495
Long-term Liabilities:
Acquired Below-Market Lease Intangibles, Net	12,837	16,891
Partners’ Capital :
General Partners	5,610	8,101
Limited Partners – 24,000 Units authorized; 17,076.71 Units issued and outstanding as of 6/30/2024 and 12/31/2023	9,963,301	10,210,015
Total Partners' Capital	9,968,911	10,218,116
Total Liabilities and Partners' Capital	$ 10,233,455	$ 10,509,502

Balance Sheet (Parentheticals)

Balance Sheet (Parentheticals) - Limited Partner [Member] - shares	Jun. 30, 2024	Dec. 31, 2023
Limited Partners, units authorized	24,000	24,000
Limited Partners, units issued	17,076.71	17,076.71
Limited Partners, units outstanding	17,076.71	17,076.71

Statement of Income

Statement of Income - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Rental Income	$ 249,753	$ 249,241	$ 499,506	$ 497,999
Expenses:
Partnership Administration – Affiliates	39,645	40,807	85,448	84,872
Partnership Administration and Property Management – Unrelated Parties	40,266	25,259	62,401	53,012
Depreciation and Amortization	128,076	128,076	256,151	256,151
Total Expenses	207,987	194,142	404,000	394,035
Operating Income	41,766	55,099	95,506	103,964
Other Income:
Interest Income	886	777	1,755	1,289
Net Income	42,652	55,876	97,261	105,253
Net Income Allocated:
General Partners	427	559	973	1,053
Limited Partners	42,225	55,317	96,288	104,200
Net Income	$ 42,652	$ 55,876	$ 97,261	$ 105,253
Net Income per Limited Partnership Unit (in Dollars per share)	$ 2.47	$ 3.24	$ 5.64	$ 6.1
Weighted Average Units Outstanding – Basic and Diluted (in Shares)	17,077	17,077	17,077	17,077

Statement of Cash Flows

Statement of Cash Flows - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Cash Flows from Operating Activities:
Net Income	$ 42,652	$ 54,609	$ 55,876	$ 49,377	$ 97,261	$ 105,253
Adjustments to Reconcile Net Income To Net Cash Provided by Operating Activities:
Depreciation and Amortization					252,095	252,097
Decrease in Payable to AEI Fund Management, Inc.					(31,955)	(18,041)
Increase in Unearned Rent					9,167	54,899
Total Adjustments					229,307	288,955
Net Cash Provided By Operating Activities					326,568	394,208
Cash Flows from Financing Activities:
Distributions Paid to Partners					(346,466)	(346,466)
Net Increase (Decrease) in Cash					(19,898)	47,742
Cash, beginning of period		$ 180,560		$ 194,869	180,560	194,869
Cash, end of period	$ 160,662		$ 242,611		$ 160,662	$ 242,611

Statement of Changes in Partner

Statement of Changes in Partners' Capital - USD ($)	General Partner [Member]	Limited Partner [Member]	Total
Balance at Dec. 31, 2022	$ 12,611	$ 10,656,556	$ 10,669,167
Balance (in Shares) at Dec. 31, 2022		17,076.71
Distributions Declared	(1,732)	$ (171,501)	(173,233)
Net Income	494	48,883	49,377
Balance at Mar. 31, 2023	11,373	$ 10,533,938	10,545,311
Balance (in Shares) at Mar. 31, 2023		17,076.71
Balance at Dec. 31, 2022	12,611	$ 10,656,556	10,669,167
Balance (in Shares) at Dec. 31, 2022		17,076.71
Distributions Declared	(3,464)	$ (343,002)	(346,466)
Net Income			105,253
Balance at Jun. 30, 2023	10,200	$ 10,417,754	10,427,954
Balance (in Shares) at Jun. 30, 2023		17,076.71
Balance at Mar. 31, 2023	11,373	$ 10,533,938	10,545,311
Balance (in Shares) at Mar. 31, 2023		17,076.71
Distributions Declared	(1,732)	$ (171,501)	(173,233)
Net Income	559	55,317	55,876
Balance at Jun. 30, 2023	10,200	$ 10,417,754	10,427,954
Balance (in Shares) at Jun. 30, 2023		17,076.71
Balance at Dec. 31, 2023	8,101	$ 10,210,015	10,218,116
Balance (in Shares) at Dec. 31, 2023		17,076.71
Distributions Declared	(1,732)	$ (171,501)	(173,233)
Net Income	546	54,063	54,609
Balance at Mar. 31, 2024	6,915	$ 10,092,577	10,099,492
Balance (in Shares) at Mar. 31, 2024		17,076.71
Balance at Dec. 31, 2023	8,101	$ 10,210,015	10,218,116
Balance (in Shares) at Dec. 31, 2023		17,076.71
Distributions Declared	(3,464)	$ (343,002)	(346,466)
Net Income			97,261
Balance at Jun. 30, 2024	5,610	$ 9,963,301	9,968,911
Balance (in Shares) at Jun. 30, 2024		17,076.71
Balance at Mar. 31, 2024	6,915	$ 10,092,577	10,099,492
Balance (in Shares) at Mar. 31, 2024		17,076.71
Distributions Declared	(1,732)	$ (171,501)	(173,233)
Net Income	427	42,225	42,652
Balance at Jun. 30, 2024	$ 5,610	$ 9,963,301	$ 9,968,911
Balance (in Shares) at Jun. 30, 2024		17,076.71

Basis of Accounting

Basis of Accounting	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Accounting [Text Block]	(1) The condensed statements included herein have been prepared by the registrant, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission, and reflect all adjustments which are, in the opinion of management, necessary to a fair statement of the results of operations for the interim period, on a basis consistent with the annual audited statements. The adjustments made to these condensed statements consist only of normal recurring adjustments. Certain information, accounting policies, and footnote disclosures normally included in financial statements prepared in accordance with United States Generally Accepted Accounting Principles (US GAAP) have been condensed or omitted pursuant to such rules and regulations, although the registrant believes that the disclosures are adequate to make the information presented not misleading. It is suggested that these condensed financial statements be read in conjunction with the financial statements and the summary of significant accounting policies and notes thereto included in the registrant’s latest annual report on Form 10‑K.

Organization

Organization	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	(2) Organization – AEI Income & Growth Fund XXI Limited Partnership (the “Partnership”) was formed to acquire and lease commercial properties to operating tenants. The Partnership’s operations are managed by AEI Fund Management XXI, Inc. (“AFM”), the Managing General Partner. The Estate of Robert P. Johnson serves as the Individual General Partner. AFM is a wholly owned subsidiary of AEI Capital Corporation of which the Credit Trust fbo Patricia Johnson and Patricia Johnson own a majority interest. AEI Fund Management, Inc. (“AEI”), an affiliate of AFM, performs the administrative and operating functions for the Partnership. In January 2021, the Managing General Partner mailed a Consent Statement (Proxy) seeking the consent of the Limited Partners to continue the Partnership for an additional 60 months or to initiate the final disposition, liquidation and distribution of all of the Partnership’s properties and assets. On March 3, 2021, the votes were counted and neither proposal received the required majority vote. As a result, the Managing General Partner will continue the operations of the Partnership for an additional 60 months at which time it will ask the Limited Partners to vote on the same two proposals.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	(3) Recently Adopted Accounting Pronouncements – Accounting standards that have been issued or proposed by the Financial Accounting Standards Board are currently not applicable to the Partnership or are not expected to have a significant impact on the Partnership’s financial positions, results of operations and cash flows.

Payable to AEI Fund Management,

Payable to AEI Fund Management, Inc.	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	(4) Payable to AEI Fund Management, Inc. – AEI Fund Management, Inc. performs the administrative and operating functions for the Partnership. The payable to AEI Fund Management represents the balance due for those services. This balance is non-interest bearing and unsecured and is to be paid in the normal course of business.

Partners' Capital

Partners' Capital	6 Months Ended
	Jun. 30, 2024
Partners' Capital Notes [Abstract]
Partners' Capital Notes Disclosure [Text Block]	(5) Partners’ Capital – For the six months ended June 30, 2024 and 2023, the Partnership declared distributions of $346,466. The Limited Partners were allocated distributions of $343,002 and the General Partners were allocated distributions of $3,464 for the periods ended June 30, 2024 and 2023. The Limited Partners' declared distributions represented $20.09 per Limited Partnership Unit outstanding using 17,077 weighted average Units in 2024 and 2023. The declared distributions represented $20.09 and $6.10 per Unit of Net Income and $0 and $13.99 per Unit of contributed capital in 2024 and 2023, respectively. During the six months ended June 30, 2024 and 2023, the Partnership did not repurchase any Units from the Limited Partners.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	(6) Fair Value Measurements – As of June 30, 2024 and December 31, 2023, the Partnership had no assets or liabilities measured at fair value on a recurring basis or nonrecurring basis.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	3 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
New Accounting Pronouncement or Change in Accounting Principle, Description	Accounting standards that have been issued or proposed by the Financial Accounting Standards Board are currently not applicable to the Partnership or are not expected to have a significant impact on the Partnership’s financial positions, results of operations and cash flows.

Partners' Capital (Details)

Partners' Capital (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Partners' Capital (Details) [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	$ 173,233	$ 173,233	$ 173,233	$ 173,233	$ 346,466	$ 346,466
Distribution Made to Limited Partner, Distributions Declared, Per Unit						$ 20.09
Limited Partner [Member]
Partners' Capital (Details) [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	171,501	171,501	171,501	171,501	$ 343,002	$ 343,002
Distribution Made to Limited Partner, Distributions Declared, Per Unit					$ 20.09
Weighted Average Limited Partnership Units Outstanding, Basic					17,077	17,077
DistributionsPerUnitOfNetIncome					$ 20.09	$ 6.1
DistributionsPerUnitOfReturnOfCapital					$ 0	$ 13.99
General Partner [Member]
Partners' Capital (Details) [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	$ 1,732	$ 1,732	$ 1,732	$ 1,732	$ 3,464	$ 3,464