CERTAIN RELATIONSHIPS AND TRANSACTIONS WITH AFFILIATES

6 Months Ended

Jun. 30, 2015

CERTAIN RELATIONSHIPS AND TRANSACTIONS WITH AFFILIATES [Abstract]

CERTAIN RELATIONSHIPS AND TRANSACTIONS WITH AFFILIATES

NOTE 9 – CERTAIN RELATIONSHIPS AND TRANSACTIONS WITH AFFILIATES

The Fund relies on the General Partner and its affiliates to manage the Fund’s operations and pays the General Partner or its affiliates fees to manage the Fund in accordance with the Partnership Agreement. The following is a summary of fees and costs of services and materials charged by the General Partner or its affiliates (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Administrative expenses	$	9	$	26	$	23	$	96

Administrative Expenses. The General Partner and its affiliates are reimbursed by the Fund for administrative services reasonably necessary to operate the Fund, which do not exceed the General Partner’s actual cost of those services.

Management Fees. The General Partner has waived management fees since August 2010 and all future management fees. Through June 30, 2015, the General Partner has waived management fees of approximately $7.9 million, of which approximately $18,000 and $52,000 related to the three and six month periods ended June 30, 2015, respectively.

Due to Affiliates. Due to affiliates includes amounts owed to the General Partner and its affiliates for various items such as management fees, expense reimbursements, and the acquisition and management of equipment portfolios. These amounts were advanced with the original expectation of repayment.

Distributions. The General Partner owns a 1% general partnership interest and a 0.87% limited partnership interest in the Fund. The General Partner was paid cash distributions of $6,000 and $5,000 for its general partnership and limited partnership interests, respectively, for the six months ended June 30, 2015 and $19,000 and $16,000 for its general partnership and limited partnership interests, respectively, for the six months ended June 30, 2014.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

LEAF Equipment Finance Fund 4, L.P. 10-Q