AEI Income & Growth Fund XXII Ltd Partnership Files 10-Q for Q1 2024

TL;DR

<b>AEI Income & Growth Fund XXII Ltd Partnership filed its quarterly report (10-Q) for the period ending March 31, 2024, confirming compliance with filing requirements and providing unit count.</b>

AI Summary

AEI INCOME & GROWTH FUND XXII LTD PARTNERSHIP (XAEIU) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Filed a Form 10-Q for the quarterly period ended March 31, 2024. The company is registered in Minnesota with IRS number 41-1848181. Principal executive offices located at 30 East 7th Street, Suite 1300, St. Paul, MN. Has submitted all required reports for the preceding 12 months and the past 90 days. As of May 15, 2024, there were 11,749.37 Units of limited partnership outstanding.

Why It Matters

For investors and stakeholders tracking AEI INCOME & GROWTH FUND XXII LTD PARTNERSHIP, this filing contains several important signals. This filing indicates the company's ongoing compliance with SEC reporting obligations, crucial for investor confidence and regulatory adherence. The disclosure of outstanding limited partnership units provides key information for current and potential investors regarding ownership structure.

Risk Assessment

Risk Level: low — AEI INCOME & GROWTH FUND XXII LTD PARTNERSHIP shows low risk based on this filing. The filing is a routine quarterly report (10-Q) with no immediate financial or operational disclosures that suggest high risk.

Analyst Insight

Monitor future filings for detailed financial performance and operational updates from AEI Income & Growth Fund XXII Ltd Partnership.

Key Numbers

• 2024-03-31 — Quarterly Period End Date (Form 10-Q filing)
• 000-24003 — Commission File Number (SEC registration)
• 41-1848181 — IRS Employer Identification No. (Tax identification)
• 11,749.37 — Units of Limited Partnership (Outstanding units as of May 15, 2024)

Key Players & Entities

• AEI INCOME & GROWTH FUND XXII LTD PARTNERSHIP (company) — Filer name
• March 31, 2024 (date) — Quarterly period ended
• 000-24003 (other) — Commission File Number
• Minnesota (location) — State of incorporation
• 41-1848181 (other) — IRS Employer Identification No.
• 30 East 7th Street, Suite 1300 (address) — Principal executive offices
• St. Paul, Minnesota (location) — Principal executive offices city and state
• 11,749.37 (dollar_amount) — Units of limited partnership outstanding

FAQ

Risk Factors

• Filing Requirements [low — regulatory]: The registrant has filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months and has been subject to such filing requirements for the past 90 days.

Industry Context

AEI Income & Growth Fund XXII Ltd Partnership operates within the real estate sector, as indicated by its SIC code 6500.

Regulatory Implications

The company is subject to the reporting requirements of the Securities Exchange Act of 1934, including the filing of quarterly reports (Form 10-Q).

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Track future filings for updates on the fund's performance and any new disclosures.
3. Verify the status and performance of the 11,749.37 outstanding limited partnership units.

Key Dates

• 2024-03-31: Quarterly Period End — The end date for the financial reporting period covered by the 10-Q filing.
• 2024-05-14: Filing Date — The date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing is a standard quarterly report (10-Q) and does not appear to represent a change from previous reporting periods in terms of format or immediate content, beyond the updated financial period.

Key Financial Figures

• $109,519 — Partnership recognized rental income of $109,519 and $141,902, respectively. In 2024, re
• $141,902 — ecognized rental income of $109,519 and $141,902, respectively. In 2024, rental income d
• $440,000 — ecognize rental income of approximately $440,000 in 2024. For the three months ended M
• $33,527 — ion expenses from affiliated parties of $33,527 and $30,067, respectively. These admini
• $30,067 — from affiliated parties of $33,527 and $30,067, respectively. These administration exp
• $18,746 — ment expenses from unrelated parties of $18,746 and $19,294, respectively. These expens
• $19,294 — s from unrelated parties of $18,746 and $19,294, respectively. These expenses represent
• $1,368 — rtnership recognized interest income of $1,368 and $1,031, respectively. In 2024, inte
• $1,031 — ecognized interest income of $1,368 and $1,031, respectively. In 2024, interest income
• $80,671 — Partnership's cash balance decreased by $80,671 and $12,898, respectively, as a result
• $12,898 — s cash balance decreased by $80,671 and $12,898, respectively, as a result of distribut
• $90,915 — by operating activities decreased from $90,915 in 2023 to $23,142 in 2024 as a result
• $23,142 — ities decreased from $90,915 in 2023 to $23,142 in 2024 as a result of timing differenc
• $69,220 — e Partnership declared distributions of $69,220 and $103,813, respectively. Pursuant to
• $103,813 — p declared distributions of $69,220 and $103,813, respectively. Pursuant to the Partners

Filing Documents

• aei22-20240331.htm (10-Q) — 228KB
• ex2231-1.htm (EX-31.1) — 8KB
• ex2231-2.htm (EX-31.2) — 8KB
• ex2232.htm (EX-32) — 8KB
• 0001023458-24-000006.txt (&nbsp;) — 1066KB
• aei22-20240331.xsd (EX-101.SCH) — 15KB
• aei22-20240331_def.xml (EX-101.DEF) — 54KB
• aei22-20240331_lab.xml (EX-101.LAB) — 114KB
• aei22-20240331_pre.xml (EX-101.PRE) — 59KB
• aei22-20240331_cal.xml (EX-101.CAL) — 16KB
• aei22-20240331_htm.xml (XML) — 37KB

– Financial Information

Part I – Financial Information Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited): Balance Sheets as of March 31, 2024 and December 31, 2023 3 Operations 4 Cash Flows 5 Changes in Partners' Capital 6 Condensed Notes to Financial Statements 7– 8 Item 2.

Management's Discussion and Analysis of Financial

Management's Discussion and Analysis of Financial Condition and Results of Operations 9 - 13 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 13 Item 4.

Controls and Procedures

Controls and Procedures 13

– Other Information

Part II – Other Information Item 1.

Legal Proceedings

Legal Proceedings 14 Item 1A.

Risk Factors

Risk Factors 14 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 14 Item 3. Defaults Upon Senior Securities 14 Item 4. Mine Safety Disclosures 14 Item 5. Other Information 14 Item 6. Exhibits 15

Signatures

Signatures 15 2 AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP BALANCE SHEETS ASSETS March 31, December 31, 2024 2023 (unaudited) Current Assets: Cash $ 192,933 $ 273,604 Real Estate Investments: Land 1,914,315 1,914,315 Buildings 5,356,358 5,356,358 Acquired Intangible Lease Assets 1,415,859 1,415,859 Real Estate Held for Investment, at Cost 8,686,532 8,686,532 Accumulated Depreciation and Amortization ( 2,135,745 ) ( 2,056,836 ) Real Estate Held for Investment, Net 6,550,787 6,629,696 Total Assets $ 6,743,720 $ 6,903,300 LIABILITIES AND PARTNERS' CAPITAL Current Liabilities: Payable to AEI Fund Management, Inc. $ 24,130 $ 67,322 Distributions Payable 69,220 103,813 Unearned Rent 15,184 15,184 Total Current Liabilities 108,534 186,319 Partners' Capital: General Partners ( 7,958 ) ( 5,504 ) Limited Partners – 24,000 Units authorized; 11,749.37 Units issued and outstanding as of 3/31/2024 and 12/31/2023 6,643,144 6,722,485 Total Partners' Capital 6,635,186 6,716,981 Total Liabilities and Partners' Capital $ 6,743,720 $ 6,903,300 The accompanying Condensed Notes to Financial Statements are an integral part of these statements. 3 AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP (unaudited) Three Months Ended March 31 2024 2023 Rental Income $ 109,519 $ 141,902 Expenses: Partnership Administration – Affiliates 33,527 30,067 Partnership Administration and Property Management – Unrelated Parties 18,746 19,294 Depreciation and Amortization 71,189 75,768 Total Expenses 123,462 125,129 Operating Income (Loss) ( 13,943 ) 16,773 Other Income: Interest Income 1,368 1,031 Net Income (Loss) $ ( 12,575 ) $ 17,804 Net Income (Loss) Allocated: General Partners $ ( 377 ) $ 534 Limited Partners ( 12,198 ) 17,270 Total

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. This section contains "forward-looking statements" which represent management's expectations or beliefs concerning future events, including statements regarding anticipated application of cash, expected returns from rental income, growth in revenue, the sufficiency of cash to meet operating expenses, rates of distribution, and other matters. These, and other forward-looking statements, should be evaluated in the context of a number of factors that may affect the Partnership's financial condition and results of operations, including the following: — Market and economic conditions which affect the value of the properties the Partnership owns and the cash from rental income such properties generate; — the federal income tax consequences of rental income, deductions, gain on sales and other items and the effects of these consequences for the Partners; — resolution by the General Partners of conflicts with which they may be confronted; — the success of the General Partners of locating properties with favorable risk return characteristics; — the effect of tenant defaults; and — the condition of the industries in which the tenants of properties owned by the Partnership operate. Application of Critical Accounting Policies The Partnership's financial statements have been prepared in accordance with US GAAP. Preparing the financial statements requires management to use judgment in the application of these accounting policies, including making estimates and assumptions. These judgments will affect the reported amounts of the Partnership's assets and liabilities and the disclosure of contingent assets and liabilities as of the dates of the financial statements and will affect the reported amounts of revenue and expenses during the reporting periods. It is possible that the carrying amount of the Partnership's assets and liabilities, or the results of re

MANAGEMENT'S DISCUSSION AND ANALYSIS. (Continued)

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS. (Continued) The fair values of above market and below market in-place leases will be recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) an estimate of fair market lease rates for the corresponding in-place leases measured over a period equal to the non-cancelable term of the lease including any bargain renewal periods. The above market and below market lease values will be capitalized as intangible lease assets or liabilities. Above market lease values will be amortized as an adjustment of rental income over the remaining term of the respective leases. Below market lease values will be amortized on a straight-line basis as an adjustment of rental income over the remaining term of the respective leases, including any bargain renewal periods. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of above market and below market in-place lease values relating to that lease would be recorded as an adjustment to rental income. The fair values of in-place leases will include estimated direct costs associated with obtaining a new tenant, and opportunity costs associated with lost rentals which are avoided by acquiring an in-place lease. Direct costs associated with obtaining a new tenant may include commissions, tenant improvements, and other direct costs and are estimated, in part, by management's consideration of current market costs to execute a similar lease. These direct costs will be included in intangible lease assets on the balance sheet and will be amortized to expense over the remaining term of the respective leases. The value of opportunity costs will be calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease. These intangible

MANAGEMENT'S DISCUSSION AND ANALYSIS. (Continued)

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS. (Continued) Allocation of Expenses AEI Fund Management, Inc. allocates expenses to each of the funds they manage primarily on the basis of the number of hours devoted by their employees to each fund's affairs. They also allocate expenses at the end of each month that are not directly related to a fund's operations based upon the number of investors in the fund and the fund's capitalization relative to other funds they manage. The Partnership reimburses these expenses subject to detailed limitations contained in the Partnership Agreement. Factors Which May Influence Results of Operations The Partnership is not aware of any material trends or uncertainties, other than national economic conditions affecting real estate generally, that may reasonably be expected to have a material impact, favorable or unfavorable, on revenues and investment property value. However, due to current economic factors, higher interest rates, and inflation in the U.S. and globally, our tenants and operating partners may be impacted. Results of Operations For the three months ended March 31, 2024 and 2023, the Partnership recognized rental income of $109,519 and $141,902, respectively. In 2024, rental income decreased due to one property that was vacated in 2023, which was partially offset by one property with a rent increase. Based on the scheduled rent for the properties owned as of March 31, 2024, the Partnership expects to recognize rental income of approximately $440,000 in 2024. For the three months ended March 31, 2024 and 2023, the Partnership incurred Partnership administration expenses from affiliated parties of $33,527 and $30,067, 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 manag

MANAGEMENT'S DISCUSSION AND ANALYSIS. (Continued)

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS. (Continued) Liquidity and Capital Resources During the three months ended March 31, 2024 and 2023, the Partnership's cash balance decreased by $80,671 and $12,898, respectively, as a result of distributions paid to the Partners in excess of cash generated from operating activities. Net cash provided by operating activities decreased from $90,915 in 2023 to $23,142 in 2024 as a result of timing differences in the collection of payments from the tenants and payments of expenses and a decrease in rental income, which was partially offset by a decrease in Partnership administration and property management expenses from unrelated parties in 2024. The major components of the Partnership's cash flow from investing activities are investments in real estate and proceeds from the sale of real estate. During the three months ended March 31, 2024 and 2023, the Partnership did not complete any property acquisitions or property sales. The Partnership's primary use of cash flow, other than investment in real estate, is distribution payments to Partners and cash used to repurchase Units. The Partnership declares its regular quarterly distributions before the end of each quarter and pays the distribution in the first week after the end of each quarter. The Partnership attempts to maintain a stable distribution rate from quarter to quarter. The Partnership may repurchase tendered Units on April 1st and October 1st of each year subject to limitations. For the three months ended March 31, 2024 and 2023, the Partnership declared distributions of $69,220 and $103,813, respectively. Pursuant to the Partnership Agreement, distributions of Net Cash Flow are to be allocated 97% to the Limited Partners and 3% to the General Partners. Distributions of Net Proceeds of Sale were allocated 99% to the Limited Partners and 1% to the General Partners. The Limited Partners were allocated declared distributions of $67,143 and $100,699 and the G

MANAGEMENT'S DISCUSSION AND ANALYSIS. (Continued)

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS. (Continued) Off-Balance Sheet Arrangements As of March 31, 2024 and December 31, 2023, the Partnership had no material off-balance sheet arrangements that had or are reasonably likely to have current or future effects on its financial condition, results of operations, liquidity or capital resources.

QUANTITATIVE & QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE & QUALITATIVE DISCLOSURES ABOUT MARKET RISK. Not required for a smaller reporting company.

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES. (a) Disclosure Controls and Procedures. Under the supervision and with the participation of management, including its President and Chief Financial Officer, the Managing General Partner of the Partnership evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the "Exchange Act")). Based upon that evaluation, the President and Chief Financial Officer of the Managing General Partner concluded that, as of the end of the period covered by this report, our disclosure controls and procedures were effective in ensuring that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in applicable rules and forms and that such information is accumulated and communicated to management, including the President and Chief Financial Officer of the Managing General Partner, in a manner that allows timely decisions regarding required disclosure. (b) Changes in Internal Control Over Financial Reporting. During the most recent period covered by this report, there has been no change in our internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting. 13

– OTHER INFORMATION

PART II – OTHER INFORMATION

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS. There are no material pending legal proceedings to which the Partnership is a party or of which the Partnership's property is subject.

RISK FACTORS

ITEM 1A. RISK FACTORS. Not required for a smaller reporting company.

UNREGISTERED SALES OF EQUITY SECURITIES & USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES & USE OF PROCEEDS. (a) None. (b) Not applicable. (c) Pursuant to Section 7.7 of the Partnership Agreement, each Limited Partner has the right to present Units to the Partnership for purchase by submitting notice to the Managing General Partner during January or July of each year. The purchase price of the Units is equal to 90% of the net asset value per Unit, as of the first business day of January or July of each year, as determined by the Managing General Partner in accordance with the provisions of the Partnership Agreement. Units tendered to the Partnership during January and July may be repurchased on April 1 st and October 1 st , respectively, of each year subject to the following limitations. The Partnership will not be obligated to purchase in any year any number of Units that, when aggregated with all other transfers of Units that have occurred since the beginning of the same calendar year (excluding Permitted Transfers as defined in the Partnership Agreement), would exceed 5% of the total number of Units outstanding on January 1 of such year. In no event shall the Partnership be obligated to purchase Units if, in the sole discretion of the Managing General Partner, such purchase would impair the capital or operation of the Partnership. During the period covered by this report, the Partnership did not purchase any Units.

DEFAULTS UPON SENIOR SECURITIES

ITEM 3. DEFAULTS UPON SENIOR SECURITIES. None.

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES. Not Applicable.

OTHER INFORMATION

ITEM 5. OTHER INFORMATION. None. 14

EXHIBITS

ITEM 6. EXHIBITS. 31.1 Certification of President of General Partner pursuant to Rule 15d-14(a)(17 CFR 240.15d-14(a)) and Section 302 of the Sarbanes-Oxley Act of 2002. 31.2 Certification of Chief Financial Officer of General Partner pursuant to Rule 15d-14(a)(17 CFR 240.15d-14(a)) and Section 302 of the Sarbanes-Oxley Act of 2002. 32 Certification of President and Chief Financial Officer of General Partner pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Dated: May 14, 2024 AEI Income & Growth Fund XXII Limited Partnership By: AEI Fund Management XXI, Inc. Its: Managing General Partner By: /s/ Marni J Nygard Marni J. Nygard President (Principal Executive Officer) By: /s/ Keith E. Petersen Keith E. Petersen Chief Financial Officer (Principal Accounting Officer) 15

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