Content analysis
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H.S. freshman Avg
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New words:
adequacy, advisor, analyze, ASU, capability, chain, charge, corroborated, cyber, cybersecurity, defense, denial, deterring, device, discovery, education, essential, exploitation, exploratory, fbo, fourth, hierarchy, identical, input, lessen, line, lowest, monitor, network, nonfinancial, observable, orderly, posture, prompt, qualified, quoted, ransomware, repair, reputation, retention, service, technology, Topic, training, transaction, unobservable, unusual, Update, vacancy, vulnerability
Removed:
doubtful, improvement, pandemic
Financial report summary
?Management Discussion
- For the years ended December 31, 2023 and 2022, the Partnership recognized rental income of $547,015 and $466,091, respectively. In 2023, rental income increased due to generating a full year of income on a property that was acquired in September 2022 and rent increases on two properties. These were partially offset by the sale of two properties in 2022 and a vacancy on one property beginning in November 2023. Based on the scheduled rent for the properties owned as of February 28, 2024, the Partnership expects to recognize rental income of approximately $471,000 in 2024.
- For the years ended December 31, 2023 and 2022, the Partnership incurred Partnership administration expenses from affiliated parties of $121,277 and $109,723, respectively. These administration expenses include costs associated with the management of the properties, processing distributions, reporting requirements and communicating with the Limited Partners. During the same periods, the Partnership incurred Partnership administration and property management expenses from unrelated parties of $44,384 and $59,054, respectively. These expenses represent direct payments to third parties for legal and filing fees, direct administrative costs, outside audit costs, taxes, insurance and other property costs. In 2023, these expenses decreased due to reimbursement of repair costs previously expensed.
- For the years ended December 31, 2023 and 2022, the Partnership recognized interest income of $5,641 and $7,708, respectively. In 2023, interest income decreased due to the Company having less money invested in a money market account due to a property acquisition in September 2022.