UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

 

(Mark One)

(X)   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period endedDecember 31, 20172018
or
( )   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______ to _______

Commission file number        0-26200

 

BOSTON CAPITAL TAX CREDIT FUND IV L.P.
(Exact name of registrant as specified in its charter)

Delaware

04-3208648

(State or other jurisdiction

(I.R.S. Employer

of incorporation or organization)

Identification No.)

 

One Boston Place, Suite 2100, Boston, Massachusetts  02108
(Address of principal executive offices)    (Zip Code)

                   (617) 624-8900                   

(Registrant's telephone number, including area code)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

 

Yesý

No 

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yesý

No 

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer □

Accelerated Filer □

Non-accelerated filer □ (Do not check if a smaller reporting company)ý

Smaller Reporting Companyý

Emerging Growth Company □

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes 

Noý

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BOSTON CAPITAL TAX CREDIT FUND IV L.P.

QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTER ENDED DECEMBER 31, 20172018

 

TABLE OF CONTENTS

 

PART I FINANCIAL INFORMATION

 
  

        Pages

 

Item 1. Condensed Financial Statements

   
  

Condensed Balance Sheets

4-31

  

Condensed Statements of Operations

32-87

  

Condensed Statements of Changes in 

Partners' Capital (Deficit)


88-97

  

Condensed Statements of Cash Flows

98-125

  

Notes to Condensed Financial Statements

126-162126-161

   

Item 2. Management's Discussion and Analysis of 
        Financial Condition and Results of Operations


163-210162-208

   
 

Item 3. Quantitative and Qualitative Disclosures About         Market Risk


211209

   
 

Item 4. Controls and Procedures

211209

   

PART II OTHER INFORMATION

 
   

Item 1. Legal Proceedings

212210

   
 

Item 1A. Risk Factors

212210

   
 

Item 2. Unregistered Sales of Equity Securities and         Use of Proceeds


212210

   
 

Item 3. Defaults Upon Senior Securities

212210

   
 

Item 4. Mine Safety Disclosures

212210

   
 

Item 5. Other Information

212210

   
 

Item 6. Exhibits

212210

 

Signatures

213211

   

 

 

 

Boston Capital Tax Credit Fund IV L.P.

 

CONDENSED BALANCE SHEETS

(Unaudited)


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

28,521,120

27,209,997

23,668,446

27,208,717

Notes receivable

-

22,790

Other assets

58,927

164,773

40,088

40,088

$

28,580,047

$

27,397,560

$

23,708,534

$

27,248,805

LIABILITIES

Accounts payable and accrued expenses

$

651,173

$

697,432

$

1,642,092

$

654,673

Accounts payable affiliates (Note C)

31,587,088

39,637,826

19,723,088

29,495,273

Capital contributions payable

186,846

578,113

44,094

176,746

32,425,107

40,913,371

21,409,274

30,326,692

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
83,651,080 issued and 83,310,666
outstanding as of December 31, 2017
and March 31, 2017.






2,171,533







(6,338,126)

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
83,651,080 issued and 83,175,478
outstanding as of December 31, 2018
and March 31, 2018.






2,894,455







2,931,035

General Partner

(6,016,593)

(7,177,685)

(595,195)

(6,008,922)

(3,845,060)

(13,515,811)

2,299,260

(3,077,887)

$

28,580,047

$

27,397,560

$

23,708,534

$

27,248,805

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 20


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

286,465

271,060

-

241,987

Notes receivable

-

-

Other assets

-

-

-

-

$

286,465

$

271,060

$

-

$

241,987

LIABILITIES

Accounts payable and accrued expenses

$

2,000

$

-

$

-

$

-

Accounts payable affiliates (Note C)

1,483,509

1,466,902

-

1,444,723

Capital contributions payable

-

-

-

-

1,485,509

1,466,902

-

1,444,723

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,866,700 issued and 3,833,200
outstanding as of December 31, 2017
and March 31, 2017.






(878,801)






(875,631)

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,866,700 issued and 3,829,200
outstanding as of December 31, 2018
and March 31, 2018.






(754,767)






(882,456)

General Partner

(320,243)

(320,211)

754,767

(320,280)

(1,199,044)

(1,195,842)

-

(1,202,736)

$

286,465

$

271,060

$

-

$

241,987

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

 

Series 21

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

-

241,102

-

-

Notes receivable

-

-

Other assets

-

-

-

-

$

-

$

241,102

$

-

$

-

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

-

1,321,237

-

-

Capital contributions payable

-

-

-

-

-

1,321,237

-

-

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
1,892,700 issued and 1,879,500
outstanding as of December 31, 2017
and March 31, 2017.






(898,231)







(907,383)

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
1,892,700 issued and 1,879,500
outstanding as of December 31, 2018
and March 31, 2018.






(898,231)







(898,231)

General Partner

898,231

(172,752)

898,231

898,231

-

(1,080,135)

-

-

$

-

$

241,102

$

-

$

-

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 22

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

225,666

252,064

-

221,864

Notes receivable

-

-

Other assets

-

-

-

-

$

225,666

$

252,064

$

-

$

221,864

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

2,870,806

2,848,897

-

2,878,109

Capital contributions payable

-

-

-

-

2,870,806

2,848,897

-

2,878,109

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,564,400 issued and 2,557,045
outstanding as of December 31, 2017
and March 31, 2017.






(2,399,605)






(2,351,781)

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,564,400 issued and 2,550,645
outstanding as of December 31, 2018
and March 31, 2018.






(2,448,362)






(2,410,599)

General Partner

(245,535)

(245,052)

2,448,362

(245,646)

(2,645,140)

(2,596,833)

-

(2,656,245)

$

225,666

$

252,064

$

-

$

221,864

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 23

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

1,138,740

659,167

-

446,136

Notes receivable

-

-

Other assets

-

-

-

-

$

1,138,740

$

659,167

$

-

$

446,136

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

1,617,792

2,089,674

-

933,387

Capital contributions payable

-

-

-

-

1,617,792

2,089,674

-

933,387

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,336,727 issued and 3,314,827
outstanding as of December 31, 2017
and March 31, 2017.






(189,415)






(1,131,355)

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,336,727 issued and 3,303,327
outstanding as of December 31, 2018
and March 31, 2018.






(224,264)






(197,532)

General Partner

(289,637)

(299,152)

224,264

(289,719)

(479,052)

(1,430,507)

-

(487,251)

$

1,138,740

$

659,167

$

-

$

446,136


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 24


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

365,067

427,181

417,630

453,512

Notes receivable

-

-

Other assets

-

-

-

-

$

365,067

$

427,181

$

417,630

$

453,512

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

3,000

$

5,000

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

-

-

-

-

-

-

3,000

5,000

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,169,878 issued and 2,154,253
outstanding as of December 31, 2017
and March 31, 2017.






540,668






602,161

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,169,878 issued and 2,152,753
outstanding as of December 31, 2018
and March 31, 2018.






589,736






623,279

General Partner

(175,601)

(174,980)

(175,106)

(174,767)

365,067

427,181

414,630

448,512

$

365,067

$

427,181

$

417,630

$

453,512

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 25

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

-

344,461

-

-

Notes receivable

-

-

Other assets

-

1,250

-

-

$

-

$

345,711

$

-

$

-

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

-

-

-

-

-

-

-

-

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,026,109 issued and 3,016,809
outstanding as of December 31, 2017
and March 31, 2017.






219,815






565,870

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,026,109 issued and 3,016,809
outstanding as of December 31, 2018
and March 31, 2018.






219,815






219,815

General Partner

(219,815)

(220,159)

(219,815)

(219,815)

-

345,711

-

-

$

-

$

345,711

$

-

$

-

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 26

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

662,931

677,679

572,306

642,258

Notes receivable

-

-

Other assets

-

-

-

-

$

662,931

$

677,679

$

572,306

$

642,258

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

-

-

-

-

-

-

-

-

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,995,900 issued and 3,977,000
outstanding as of December 31, 2017
and March 31, 2017.






974,644






989,245

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,995,900 issued and 3,965,400
outstanding as of December 31, 2018
and March 31, 2018.






884,926






954,178

General Partner

(311,713)

(311,566)

(312,620)

(311,920)

662,931

677,679

572,306

642,258

$

662,931

$

677,679

$

572,306

$

642,258

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 27

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

6,788,242

3,606,473

6,492,781

6,799,933

Notes receivable

-

-

Other assets

-

-

-

-

$

6,788,242

$

3,606,473

$

6,492,781

$

6,799,933

LIABILITIES

Accounts payable and accrued expenses

$

-

$

31,673

$

-

$

-

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

-

-

-

-

-

31,673

-

-

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,460,700 issued and 2,446,400
outstanding as of December 31, 2017
and March 31, 2017.






6,926,807






3,745,499

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,460,700 issued and 2,443,900
outstanding as of December 31, 2018
and March 31, 2018.






6,634,301






6,938,381

General Partner

(138,565)

(170,699)

(141,520)

(138,448)

6,788,242

3,574,800

6,492,781

6,799,933

$

6,788,242

$

3,606,473

$

6,492,781

$

6,799,933

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 28

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

756,082

812,483

701,439

742,564

Notes receivable

-

-

Other assets

-

-

-

-

$

756,082

$

812,483

$

701,439

$

742,564

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

-

-

-

-

-

-

-

-

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
4,000,738 issued and 3,990,738
outstanding as of December 31, 2017
and March 31, 2017.






1,030,358






1,086,195

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
4,000,738 issued and 3,984,138
outstanding as of December 31, 2018
and March 31, 2018.






976,261






1,016,975

General Partner

(274,276)

(273,712)

(274,822)

(274,411)

756,082

812,483

701,439

742,564

$

756,082

$

812,483

$

701,439

$

742,564

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 29

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

314,643

345,648

196,692

622,414

Notes receivable

-

-

Other assets

-

-

-

-

$

314,643

$

345,648

$

196,692

$

622,414

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

3,540,832

3,479,192

3,069,575

3,559,561

Capital contributions payable

8,235

8,235

785

885

3,549,067

3,487,427

3,070,360

3,560,446

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,991,800 issued and 3,965,300
outstanding as of December 31, 2017
and March 31, 2017.






(2,863,433)






(2,771,714)

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,991,800 issued and 3,955,225
outstanding as of December 31, 2018
and March 31, 2018.






(2,506,284)






(2,570,004)

General Partner

(370,991)

(370,065)

(367,384)

(368,028)

(3,234,424)

(3,141,779)

(2,873,668)

(2,938,032)

$

314,643

$

345,648

$

196,692

$

622,414

 

The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 30

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

519,393

270,126

-

453,433

Notes receivable

-

-

Other assets

-

-

-

-

$

519,393

$

270,126

$

-

$

453,433

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

3,500

Accounts payable affiliates (Note C)

1,683,848

1,641,976

-

1,620,957

Capital contributions payable

65,176

105,139

-

65,176

1,749,024

1,747,115

-

1,689,633

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,651,000 issued and 2,631,000
outstanding as of December 31, 2017
and March 31, 2017.






(990,279)






(1,235,163)

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,651,000 issued and 2,621,200
outstanding as of December 31, 2018
and March 31, 2018.






(883,119)






(996,782)

General Partner

(239,352)

(241,826)

883,119

(239,418)

(1,229,631)

(1,476,989)

-

(1,236,200)

$

519,393

$

270,126

$

-

$

453,433


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 31

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

1,993,674

2,047,648

1,958,503

1,971,680

Notes receivable

-

-

Other assets

25,000

25,000

25,000

25,000

$

2,018,674

$

2,072,648

$

1,983,503

$

1,996,680

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

66,294

66,294

25,000

66,294

66,294

66,294

25,000

66,294

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
4,417,857 issued and 4,395,557
outstanding as of December 31, 2017
and March 31, 2017.






2,312,115






2,365,549

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
4,417,857 issued and 4,382,757
outstanding as of December 31, 2018
and March 31, 2018.






2,318,177






2,290,341

General Partner

(359,735)

(359,195)

(359,674)

(359,955)

1,952,380

2,006,354

1,958,503

1,930,386

$

2,018,674

$

2,072,648

$

1,983,503

$

1,996,680

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 32

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

1,313,748

837,185

225,947

563,697

Notes receivable

-

-

Other assets

-

-

-

-

$

1,313,748

$

837,185

$

225,947

$

563,697

LIABILITIES

Accounts payable and accrued expenses

$

-

$

2,000

$

-

$

-

Accounts payable affiliates (Note C)

1,664,448

2,772,531

198,731

924,936

Capital contributions payable

1,229

1,229

1,229

1,229

1,665,677

2,775,760

199,960

926,165

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
4,754,198 issued and 4,740,198
outstanding as of December 31, 2017
and March 31, 2017.






57,954






(1,512,826)

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
4,754,198 issued and 4,736,198
outstanding as of December 31, 2018
and March 31, 2018.






432,090






47,520

General Partner

(409,883)

(425,749)

(406,103)

(409,988)

(351,929)

(1,938,575)

25,987

(362,468)

$

1,313,748

$

837,185

$

225,947

$

563,697

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 33

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

342,899

337,765

229,636

452,033

Notes receivable

-

-

Other assets

-

-

-

-

$

342,899

$

337,765

$

229,636

$

452,033

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

1,239,277

1,190,828

1,085,969

1,252,955

Capital contributions payable

2,650

69,154

-

-

1,241,927

1,259,982

1,085,969

1,252,955

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,636,533 issued and 2,626,533
outstanding as of December 31, 2017
and March 31, 2017.






(664,258)






(687,215)

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,636,533 issued and 2,626,533
outstanding as of December 31, 2018
and March 31, 2018.






(621,990)






(567,133)

General Partner

(234,770)

(235,002)

(234,343)

(233,789)

(899,028)

(922,217)

(856,333)

(800,922)

$

342,899

$

337,765

$

229,636

$

452,033

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 34

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

393,160

849,078

223,081

394,837

Notes receivable

-

-

Other assets

-

-

-

-

$

393,160

$

849,078

$

223,081

$

394,837

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

2,828,003

3,221,597

2,727,465

2,840,368

Capital contributions payable

-

-

-

-

2,828,003

3,221,597

2,727,465

2,840,368

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,529,319 issued and 3,517,419
outstanding as of December 31, 2017
and March 31, 2017.






(2,110,105)






(2,048,404)

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,529,319 issued and 3,509,919
outstanding as of December 31, 2018
and March 31, 2018.






(2,178,950)






(2,120,686)

General Partner

(324,738)

(324,115)

(325,434)

(324,845)

(2,434,843)

(2,372,519)

(2,504,384)

(2,445,531)

$

393,160

$

849,078

$

223,081

$

394,837

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 35

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

4,434,679

2,392,767

4,400,908

4,428,306

Notes receivable

-

-

Other assets

-

-

-

-

$

4,434,679

$

2,392,767

$

4,400,908

$

4,428,306

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

-

551,982

-

-

Capital contributions payable

-

-

-

-

-

551,982

-

-

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,300,463 issued and 3,288,363
outstanding as of December 31, 2017
and March 31, 2017.






4,672,357






2,104,402

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,300,463 issued and 3,279,913
outstanding as of December 31, 2018
and March 31, 2018.






4,638,924






4,666,048

General Partner

(237,678)

(263,617)

(238,016)

(237,742)

4,434,679

1,840,785

4,400,908

4,428,306

$

4,434,679

$

2,392,767

$

4,400,908

$

4,428,306

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 36

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

2,125,621

2,934,317

2,856,924

2,106,050

Notes receivable

-

-

Other assets

-

-

-

-

$

2,125,621

$

2,934,317

$

2,856,924

$

2,106,050

LIABILITIES

Accounts payable and accrued expenses

$

131,000

$

131,000

$

701,319

$

131,000

Accounts payable affiliates (Note C)

-

767,505

-

-

Capital contributions payable

-

-

-

-

131,000

898,505

701,319

131,000

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,106,838 issued and 2,095,704
outstanding as of December 31, 2017
and March 31, 2017.






2,153,338






2,194,117

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,106,838 issued and 2,092,704
outstanding as of December 31, 2018
and March 31, 2018.






2,312,712






2,133,963

General Partner

(158,717)

(158,305)

(157,107)

(158,913)

1,994,621

2,035,812

2,155,605

1,975,050

$

2,125,621

$

2,934,317

$

2,856,924

$

2,106,050

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 37

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

523,132

2,096,039

-

517,887

Notes receivable

-

-

Other assets

-

-

-

-

$

523,132

$

2,096,039

$

-

$

517,887

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

504,942

2,043,715

-

513,149

Capital contributions payable

-

138,438

-

-

504,942

2,182,153

-

513,149

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,512,500 issued and 2,495,600
outstanding as of December 31, 2017
and March 31, 2017.






233,573






130,312

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,512,500 issued and 2,489,100
outstanding as of December 31, 2018
and March 31, 2018.






205,359






220,255

General Partner

(215,383)

(216,426)

(205,359)

(215,517)

18,190

(86,114)

-

4,738

$

523,132

$

2,096,039

$

-

$

517,887

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 38

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

1,469,010

3,042,864

1,486,571

1,492,145

Notes receivable

-

-

Other assets

-

-

-

-

$

1,469,010

$

3,042,864

$

1,486,571

$

1,492,145

LIABILITIES

Accounts payable and accrued expenses

$

-

$

6,543

$

-

$

-

Accounts payable affiliates (Note C)

-

1,515,985

-

18,234

Capital contributions payable

-

-

-

-

-

1,522,528

-

18,234

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,543,100 issued and 2,540,100
outstanding as of December 31, 2017
and March 31, 2017.






1,672,604






1,723,417

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,543,100 issued and 2,538,700
outstanding as of December 31, 2018
and March 31, 2018.






1,689,989






1,677,456

General Partner

(203,594)

(203,081)

(203,418)

(203,545)

1,469,010

1,520,336

1,486,571

1,473,911

$

1,469,010

$

3,042,864

$

1,486,571

$

1,492,145

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 39

 

 

 


December 31,
2017


March 31,
2017

 

 


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

-

1,248,898

-

-

Notes receivable

-

-

Other assets

-

-

-

-

$

-

$

1,248,898

$

-

$

-

LIABILITIES

Accounts payable and accrued expenses

$

-

$

6,543

$

-

$

-

Accounts payable affiliates (Note C)

-

1,154,240

-

-

Capital contributions payable

-

-

-

-

-

1,160,783

-

-

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,292,151 issued and 2,288,351
outstanding as of December 31, 2017
and March 31, 2017.






196,043






283,677

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,292,151 issued and 2,288,351
outstanding as of December 31, 2018
and March 31, 2018.






196,043






196,043

General Partner

(196,043)

(195,562)

(196,043)

(196,043)

-

88,115

-

-

$

-

$

1,248,898

$

-

$

-

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 40

 

 

 


December 31,
2017


March 31,
2017

 

 


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

725,271

248,318

229,311

431,341

Notes receivable

-

-

Other assets

-

-

-

-

$

725,271

$

248,318

$

229,311

$

431,341

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

2,675,427

2,684,058

2,264,647

2,413,069

Capital contributions payable

102

102

102

102

2,675,529

2,684,160

2,264,749

2,413,171

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,630,256 issued and 2,622,756
outstanding as of December 31, 2017
and March 31, 2017.






(1,705,812)






(2,186,540)

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,630,256 issued and 2,621,756
outstanding as of December 31, 2018
and March 31, 2018.






(1,790,140)






(1,737,068)

General Partner

(244,446)

(249,302)

(245,298)

(244,762)

(1,950,258)

(2,435,842)

(2,035,438)

(1,981,830)

$

725,271

$

248,318

$

229,311

$

431,341

 

The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 41

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

1,022,969

322,902

249,679

741,152

Notes receivable

-

-

Other assets

-

1,218

-

-

$

1,022,969

$

324,120

$

249,679

$

741,152

LIABILITIES

Accounts payable and accrued expenses

$

2,000

$

4,500

$

-

$

-

Accounts payable affiliates (Note C)

3,370,905

3,286,255

2,479,532

2,893,606

Capital contributions payable

100

100

-

-

3,373,005

3,290,855

2,479,532

2,893,606

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,891,626 issued and 2,884,126
outstanding as of December 31, 2017
and March 31, 2017.






(2,077,367)






(2,687,899)

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,891,626 issued and 2,874,926
outstanding as of December 31, 2018
and March 31, 2018.






(1,958,386)






(1,881,761)

General Partner

(272,669)

(278,836)

(271,467)

(270,693)

(2,350,036)

(2,966,735)

(2,229,853)

(2,152,454)

$

1,022,969

$

324,120

$

249,679

$

741,152

 

The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 42

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

1,198,080

1,072,528

1,319,625

1,327,017

Notes receivable

-

22,790

Other assets

11,300

51,003

11,300

11,300

$

1,209,380

$

1,146,321

$

1,330,925

$

1,338,317

LIABILITIES

Accounts payable and accrued expenses

$

1,000

$

-

$

1,500

$

-

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

254

73,433

254

254

1,254

73,433

1,754

254

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,744,262 issued and 2,736,262
outstanding as of December 31, 2017
and March 31, 2017.






1,436,983






1,303,097

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,744,262 issued and 2,732,262
outstanding as of December 31, 2018
and March 31, 2018.






1,556,817






1,565,620

General Partner

(228,857)

(230,209)

(227,646)

(227,557)

1,208,126

1,072,888

1,329,171

1,338,063

$

1,209,380

$

1,146,321

$

1,330,925

$

1,338,317

 

The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

 

Series 43

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

594,126

351,638

769,315

854,364

Notes receivable

-

-

Other assets

18,839

82,514

-

-

$

612,965

$

434,152

$

769,315

$

854,364

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

363,500

$

-

Accounts payable affiliates (Note C)

942,792

771,794

485,101

915,591

Capital contributions payable

26,082

99,265

-

26,082

968,874

871,059

848,601

941,673

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,637,987 issued and 3,632,487
outstanding as of December 31, 2017
and March 31, 2017.






(30,829)






(111,017)

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,637,987 issued and 3,629,487
outstanding as of December 31, 2018
and March 31, 2018.






243,028






235,085

General Partner

(325,080)

(325,890)

(322,314)

(322,394)

(355,909)

(436,907)

(79,286)

(87,309)

$

612,965

$

434,152

$

769,315

$

854,364

 

The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

 

Series 44

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

84,859

66,324

109,921

84,006

Notes receivable

-

-

Other assets

-

-

-

-

$

84,859

$

66,324

$

109,921

$

84,006

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

2,769,597

2,584,641

3,016,016

2,830,127

Capital contributions payable

-

-

-

-

2,769,597

2,584,641

3,016,016

2,830,127

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,701,973 issued and 2,699,473
outstanding as of December 31, 2017
and March 31, 2017.






(2,420,443)






(2,255,686)

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,701,973 issued and 2,693,973
outstanding as of December 31, 2018
and March 31, 2018.






(2,639,586)






(2,481,212)

General Partner

(264,295)

(262,631)

(266,509)

(264,909)

(2,684,738)

(2,518,317)

(2,906,095)

(2,746,121)

$

84,859

$

66,324

$

109,921

$

84,006

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

 

Series 45

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

727,804

803,153

928,655

753,702

Notes receivable

-

-

Other assets

-

-

-

-

$

727,804

$

803,153

$

928,655

$

753,702

LIABILITIES

Accounts payable and accrued expenses

$

515,173

$

515,173

$

572,773

$

515,173

Accounts payable affiliates (Note C)

2,514,264

2,357,846

2,547,165

2,584,511

Capital contributions payable

16,724

16,724

16,724

16,724

3,046,161

2,889,743

3,136,662

3,116,408

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
4,014,367 issued and 4,009,667
outstanding as of December 31, 2017
and March 31, 2017.






(1,941,511)






(1,712,062)

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
4,014,367 issued and 4,008,167
outstanding as of December 31, 2018
and March 31, 2018.






(1,832,265)






(1,985,417)

General Partner

(376,846)

(374,528)

(375,742)

(377,289)

(2,318,357)

(2,086,590)

(2,208,007)

(2,362,706)

$

727,804

$

803,153

$

928,655

$

753,702


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

 

Series 46

 


December 31,
2017


March 31,
2017


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

514,859

651,129

299,522

466,399

Notes receivable

-

-

Other assets

3,788

3,788

3,788

3,788

$

518,647

$

654,917

$

303,310

$

470,187

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

1,880,646

1,886,971

1,848,887

1,871,990

Capital contributions payable

-

-

-

-

1,880,646

1,886,971

1,848,887

1,871,990

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,980,998 issued and 2,971,998
outstanding as of December 31, 2017
and March 31, 2017.






(1,085,637)






(956,991)

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,980,998 issued and 2,968,635
outstanding as of December 31, 2018
and March 31, 2018.






(1,267,379)






(1,125,043)

General Partner

(276,362)

(275,063)

(278,198)

(276,760)

(1,361,999)

(1,232,054)

(1,545,577)

(1,401,803)

$

518,647

$

654,917

$

303,310

$

470,187

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

  

2017

 

2016

Income

    

Interest income

$

44,147

$

12,779

Other income

 

61,482

 

26,607

105,629

39,386

     
     

Share of income from 
Operating Partnerships (Note D)

 


1,055,522

 


3,579,666

     

Expenses

    

Professional fees

 

26,251

 

67,759

Fund management fee, net (Note C) 

 

456,851

 

661,511

General and administrative expenses

 

259,174

 

210,384

  

742,276

 

939,654

     

NET INCOME (LOSS)

$

418,875

$

2,679,398

     

Net income (loss) allocated to 
assignees


$


414,684


$


2,652,602

     

Net income (loss) allocated to general
partner


$


4,191


$


26,796

     

Net income (loss) per BAC

$

.00

$

.03



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 20

  

2017

 

2016

Income

Interest income

$

284

$

113

Other income

 

-

 

-

  

284

 

113

     
     

Share of income from 
Operating Partnerships (Note D)

 


42,000

 


-

     

Expenses

    

Professional fees

 

657

 

1,425

Fund management fee, net (Note C) 

 

5,336

 

5,202

General and administrative expenses

 

6,930

 

9,204

  

12,923

 

15,831

     

NET INCOME (LOSS)

$

29,361

$

(15,718)

     

Net income (loss) allocated to 
assignees


$


29,067


$


(15,561)

     

Net income (loss) allocated to general
partner


$


294


$


(157)

     

Net income (loss) per BAC

$

.01

$

(.00)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 21

2017

2016

Income

    

Interest income

$

81

$

106

Other income

 

-

 

-

  

81

 

106

     
     

Share of income from 
Operating Partnerships (Note D)

 


67,000

 


-

     

Expenses

    

Professional fees

 

1,314

 

734

Fund management fee, net (Note C) 

 

2,216

 

2,718

General and administrative expenses

 

32,726

 

5,558

  

36,256

 

9,010

     

NET INCOME (LOSS)

$

30,825

$

(8,904)

     

Net income (loss) allocated to 
assignees


$


30,517


$


(8,815)

     

Net income (loss) allocated to general
partner


$


308


$


(89)

     

Net income (loss) per BAC

$

.02

$

(.00)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 22

  

2017

 

2016

Income

    

Interest income

$

196

$

86

Other income

 

-

 

-

  

196

 

86

     
     

Share of income from 
Operating Partnerships (Note D)

 


-

 


-

     

Expenses

    

Professional fees

 

657

 

1,020

Fund management fee, net (Note C) 

 

7,303

 

7,302

General and administrative expenses

 

5,479

 

7,109

  

13,439

 

15,431

     

NET INCOME (LOSS)

$

(13,243)

$

(15,345)

     

Net income (loss) allocated to 
assignees


$


(13,111)


$


(15,192)

     

Net income (loss) allocated to general
partner


$


(132)


$


(153)

     

Net income (loss) per BAC

$

(.01)

$

(.01)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 23

  

2017

 

2016

Income

    

Interest income

$

1,140

$

64

Other income

 

1,977

 

-

  

3,117

 

64

     
     

Share of income from 
Operating Partnerships (Note D)

 


30,296

 


-

     

Expenses

    

Professional fees

 

657

 

1,328

Fund management fee, net (Note C) 

 

5,556

 

9,270

General and administrative expenses

 

6,533

 

8,883

  

12,746

 

19,481

     

NET INCOME (LOSS)

$

20,667

$

(19,417)

     

Net income (loss) allocated to 
assignees


$


20,460


$


(19,223)

     

Net income (loss) allocated to general
partner


$


207


$


(194)

     

Net income (loss) per BAC

$

.01

$

(.01)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 24

  

2017

 

2016

Income

Interest income

$

211

$

86

Other income

 

344

 

104

  

555

 

190

     
     

Share of income from 
Operating Partnerships (Note D)

 


-

 


-

     

Expenses

    

Professional fees

 

657

 

818

Fund management fee, net (Note C) 

 

12,098

 

11,858

General and administrative expenses

 

5,131

 

6,536

  

17,886

 

19,212

     

NET INCOME (LOSS)

$

(17,331)

$

(19,022)

     

Net income (loss) allocated to 
assignees


$


(17,158)


$


(18,832)

     

Net income (loss) allocated to general
partner


$


(173)


$


(190)

     

Net income (loss) per BAC

$

(.01)

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

  

2018

 

2017

Income

    

Interest income

$

60,657

$

44,147

Other income

 

35,136

 

61,482

95,793

105,629

     
     

Gain on Disposition of
Operating Partnerships

 


467,156

 


1,055,522

     

Expenses

    

Professional fees

 

70,561

 

26,251

Fund management fee, net (Note C) 

 

376,113

 

456,851

General and administrative expenses

 

303,064

 

259,174

  

749,738

 

742,276

     

NET INCOME (LOSS)

$

(186,789)

$

418,875

     

Net income (loss) allocated to 
assignees


$


(184,923)


$


414,684

     

Net income (loss) allocated to general
partner


$


(1,866)


$


4,191

     

Net income (loss) per BAC

$

(.00)

$

.00



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 2520

  

2018

 

2017

Income

Interest income

$

361

$

284

Other income

 

-

 

-

  

361

 

284

     
     

Gain on Disposition of
Operating Partnerships

 


42,000

 


42,000

     

Expenses

    

Professional fees

 

2,831

 

657

Fund management fee, net (Note C) 

 

2,549

 

5,336

General and administrative expenses

 

36,709

 

6,930

  

42,089

 

12,923

     

NET INCOME (LOSS)

$

272

$

29,361

     

Net income (loss) allocated to 
assignees


$


269


$


29,067

     

Net income (loss) allocated to general
partner


$


3


$


294

     

Net income (loss) per BAC

$

.00

$

.01



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 21

 

 

 

 

2017

 

2016

2018

2017

Income

    

Interest income

$

-

$

80

$

-

$

81

Other income

 

-

 

16

 

-

 

-

 

-

 

96

 

-

 

81

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


67,000

        

Expenses

        

Professional fees

 

1,314

 

1,104

 

-

 

1,314

Fund management fee, net (Note C)

 

-

 

5,184

 

-

 

2,216

General and administrative expenses

 

40,074

 

7,758

 

-

 

32,726

 

41,388

 

14,046

 

-

 

36,256

        

NET INCOME (LOSS)

$

(41,388)

$

(13,950)

$

-

$

30,825

        

Net income (loss) allocated to
assignees


$


(40,974)


$


(13,810)


$


-


$


30,517

        

Net income (loss) allocated to general
partner


$


(414)


$


(140)


$


-


$


308

        

Net income (loss) per BAC

$

(.01)

$

(.00)

$

-

$

.02



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 22

  

2018

 

2017

Income

    

Interest income

$

455

$

196

Other income

 

-

 

-

  

455

 

196

     
     

Gain on Disposition of
Operating Partnerships

 


38,000

 


-

     

Expenses

    

Professional fees

 

2,406

 

657

Fund management fee, net (Note C) 

 

6,426

 

7,303

General and administrative expenses

 

35,675

 

5,479

  

44,507

 

13,439

     

NET INCOME (LOSS)

$

(6,052)

$

(13,243)

     

Net income (loss) allocated to 
assignees


$


(5,991)


$


(13,111)

     

Net income (loss) allocated to general
partner


$


(61)


$


(132)

     

Net income (loss) per BAC

$

(.00)

$

(.01)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 23

  

2018

 

2017

Income

    

Interest income

$

489

$

1,140

Other income

 

-

 

1,977

  

489

 

3,117

     
     

Gain on Disposition of
Operating Partnerships

 


43,500

 


30,296

     

Expenses

    

Professional fees

 

2,731

 

657

Fund management fee, net (Note C) 

 

5,556

 

5,556

General and administrative expenses

 

37,264

 

6,533

  

45,551

 

12,746

     

NET INCOME (LOSS)

$

(1,562)

$

20,667

     

Net income (loss) allocated to 
assignees


$


(1,546)


$


20,460

     

Net income (loss) allocated to general
partner


$


(16)


$


207

     

Net income (loss) per BAC

$

(.00)

$

.01



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 24

  

2018

 

2017

Income

Interest income

$

705

$

211

Other income

 

-

 

344

  

705

 

555

     
     

Gain on Disposition of
Operating Partnerships

 


23,678

 


-

     

Expenses

    

Professional fees

 

1,513

 

657

Fund management fee, net (Note C) 

 

9,927

 

12,098

General and administrative expenses

 

5,150

 

5,131

  

16,590

 

17,886

     

NET INCOME (LOSS)

$

7,793

$

(17,331)

     

Net income (loss) allocated to 
assignees


$


7,715


$


(17,158)

     

Net income (loss) allocated to general
partner


$


78


$


(173)

     

Net income (loss) per BAC

$

.00

$

(.01)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 25

  

2018

 

2017

Income

Interest income

$

-

$

-

Other income

 

-

 

-

  

-

 

-

     
     

Gain on Disposition of
Operating Partnerships

 


-

 


-

     

Expenses

    

Professional fees

 

-

 

1,314

Fund management fee, net (Note C) 

 

-

 

-

General and administrative expenses

 

-

 

40,074

  

-

 

41,388

     

NET INCOME (LOSS)

$

-

$

(41,388)

     

Net income (loss) allocated to 
assignees


$


-


$


(40,974)

     

Net income (loss) allocated to general
partner


$


-


$


(414)

     

Net income (loss) per BAC

$

-

$

(.01)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 26

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

530

$

225

$

1,168

$

530

Other income

 

-

 

4,960

 

-

 

-

 

530

 

5,185

 

1,168

 

530

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

657

 

1,431

 

2,166

 

657

Fund management fee, net (Note C)

 

15,609

 

21,704

 

13,938

 

15,609

General and administrative expenses

 

7,656

 

10,619

 

7,464

 

7,656

 

23,922

 

33,754

 

23,568

 

23,922

        

NET INCOME (LOSS)

$

(23,392)

$

(28,569)

$

(22,400)

$

(23,392)

        

Net income (loss) allocated to
assignees


$


(23,158)


$


(28,283)


$


(22,176)


$


(23,158)

        

Net income (loss) allocated to general
partner


$


(234)


$


(286)


$


(224)


$


(234)

        

Net income (loss) per BAC

$

(.01)

$

(.01)

$

(.01)

$

(.01)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 27

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

8,050

$

2,689

$

17,986

$

8,050

Other income

 

7,370

 

-

 

-

 

7,370

 

15,420

 

2,689

 

17,986

 

15,420

        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

2,577

 

36,567

 

2,081

 

2,577

Fund management fee, net (Note C)

 

155

 

21,794

 

(2,365)

 

155

General and administrative expenses

 

4,895

 

6,493

 

5,062

 

4,895

 

7,627

 

64,854

 

4,778

 

7,627

        

NET INCOME (LOSS)

$

7,793

$

(62,165)

$

13,208

$

7,793

        

Net income (loss) allocated to
assignees


$


7,715


$


(61,543)


$


13,076


$


7,715

        

Net income (loss) allocated to general
partner


$


78


$


(622)


$


132


$


78

        

Net income (loss) per BAC

$

.00

$

(.03)

$

.01

$

.00



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 28

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

577

$

278

$

1,235

$

577

Other income

 

-

 

-

 

-

 

-

 

577

 

278

 

1,235

 

577

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

657

 

1,315

 

2,003

 

657

Fund management fee, net (Note C)

 

8,844

 

(6,156)

 

7,296

 

8,844

General and administrative expenses

 

6,717

 

8,756

 

6,537

 

6,717

 

16,218

 

3,915

 

15,836

 

16,218

        

NET INCOME (LOSS)

$

(15,641)

$

(3,637)

$

(14,601)

$

(15,641)

        

Net income (loss) allocated to
assignees


$


(15,485)


$


(3,601)


$


(14,455)


$


(15,485)

        

Net income (loss) allocated to general
partner


$


(156)


$


(36)


$


(146)


$


(156)

        

Net income (loss) per BAC

$

(.00)

$

(.00)

$

(.00)

$

(.00)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 29

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

313

$

149

$

1,106

$

313

Other income

 

-

 

-

 

-

 

-

 

313

 

149

 

1,106

 

313

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

657

 

1,449

 

2,123

 

657

Fund management fee, net (Note C)

 

20,547

 

16,596

 

4,261

 

20,547

General and administrative expenses

 

7,413

 

9,681

 

6,940

 

7,413

 

28,617

 

27,726

 

13,324

 

28,617

        

NET INCOME (LOSS)

$

(28,304)

$

(27,577)

$

(12,218)

$

(28,304)

        

Net income (loss) allocated to
assignees


$


(28,021)


$


(27,301)


$


(12,096)


$


(28,021)

        

Net income (loss) allocated to general
partner


$


(283)


$


(276)


$


(122)


$


(283)

        

Net income (loss) per BAC

$

(.01)

$

(.01)

$

(.00)

$

(.01)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 30

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

    

Interest income

$

574

$

141

$

681

$

574

Other income

 

-

 

-

 

-

 

-

 

574

 

141

 

681

 

574

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


153,627

 


-

        

Expenses

        

Professional fees

 

657

 

894

 

2,221

 

657

Fund management fee, net (Note C)

 

10,209

 

15,021

 

5,668

 

10,209

General and administrative expenses

 

5,314

 

6,974

 

38,433

 

5,314

 

16,180

 

22,889

 

46,322

 

16,180

        

NET INCOME (LOSS)

$

(15,606)

$

(22,748)

$

107,986

$

(15,606)

        

Net income (loss) allocated to
assignees


$


(15,450)


$


(22,521)


$


106,906


$


(15,450)

        

Net income (loss) allocated to general
partner


$


(156)


$


(227)


$


1,080


$


(156)

        

Net income (loss) per BAC

$

(.01)

$

(.01)

$

.04

$

(.01)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 31

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

2,325

$

670

$

5,442

$

2,325

Other income

 

-

 

-

 

-

 

-

 

2,325

 

670

 

5,442

 

2,325

        

    

Share of income from
Operating Partnerships (Note D)

 


-

 


791,947

Gain on Disposition of
Operating Partnerships

 


36,342

 


-

        

Expenses

        

Professional fees

 

657

 

1,391

 

6,927

 

657

Fund management fee, net (Note C)

 

19,092

 

37,521

 

16,065

 

19,092

General and administrative expenses

 

7,199

 

9,702

 

6,779

 

7,199

 

26,948

 

48,614

 

29,771

 

26,948

        

NET INCOME (LOSS)

$

(24,623)

$

744,003

$

12,013

$

(24,623)

        

Net income (loss) allocated to
assignees


$


(24,377)


$


736,563


$


11,893


$


(24,377)

        

Net income (loss) allocated to general
partner


$


(246)


$


7,440


$


120


$


(246)

        

Net income (loss) per BAC

$

(.01)

$

.17

$

.00

$

(.01)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 32

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

2,148

$

124

$

86

$

2,148

Other income

 

11,000

 

-

 

-

 

11,000

 

13,148

 

124

 

86

 

13,148

        
        

Share of income from
Operating Partnerships (Note D)

 


128,747

 


48,900

Gain on Disposition of
Operating Partnerships

 


-

 


128,747

        

Expenses

        

Professional fees

 

657

 

1,482

 

7,049

 

657

Fund management fee, net (Note C)

 

17,234

 

43,080

 

18,294

 

17,234

General and administrative expenses

 

11,395

 

10,050

 

7,158

 

11,395

 

29,286

 

54,612

 

32,501

 

29,286

        

NET INCOME (LOSS)

$

112,609

$

(5,588)

$

(32,415)

$

112,609

        

Net income (loss) allocated to
assignees


$


111,483


$


(5,532)


$


(32,091)


$


111,483

        

Net income (loss) allocated to general
partner


$


1,126


$


(56)


$


(324)


$


1,126

        

Net income (loss) per BAC

$

.02

$

(.00)

$

(.01)

$

.02



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,

(Unaudited)

Series 33

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

332

$

157

$

980

$

332

Other income

 

5,329

 

-

 

-

 

5,329

 

5,661

 

157

 

980

 

5,661

        
        

Share of income from
Operating Partnerships (Note D)

 


67,454

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


67,454

        

Expenses

        

Professional fees

 

657

 

890

 

1,484

 

657

Fund management fee, net (Note C)

(3,186)

16,398

9,318

(3,186)

General and administrative expenses

 

4,891

 

6,314

 

4,899

 

4,891

 

2,362

 

23,602

 

15,701

 

2,362

        

NET INCOME (LOSS)

$

70,753

$

(23,445)

$

(14,721)

$

70,753

        

Net income (loss) allocated to
assignees


$


70,045


$


(23,211)


$


(14,574)


$


70,045

        

Net income (loss) allocated to general
partner


$


708


$


(234)


$


(147)


$


708

        

Net income (loss) per BAC

$

.03

$

(.01)

$

(.01)

$

.03



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 34

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

Interest income

$

645

$

315

$

850

$

645

Other income

 

-

 

-

 

-

 

-

 

645

 

315

 

850

 

645

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


388,191

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

657

 

1,934

 

1,783

 

657

Fund management fee, net (Note C)

 

12,365

 

12,592

 

12,365

 

12,365

General and administrative expenses

 

5,903

 

7,768

 

5,924

 

5,903

 

18,925

 

22,294

 

20,072

 

18,925

NET INCOME (LOSS)

$

(18,280)

$

366,212

$

(19,222)

$

(18,280)

        

Net income (loss) allocated to
assignees


$


(18,097)


$


362,550


$


(19,030)


$


(18,097)

        

Net income (loss) allocated to general
partner


$


(183)


$


3,662


$


(192)


$


(183)

        

Net income (loss) per BAC

$

(.01)

$

.10

$

(.01)

$

(.01)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 35

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

5,396

$

2,252

$

9,216

$

5,396

Other income

 

-

 

-

 

-

 

-

5,396

2,252

9,216

5,396

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


162,435

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

Professional fees

 

657

 

1,190

 

6,668

 

657

Fund management fee, net (Note C)

 

7,453

 

21,180

 

4,053

 

7,453

General and administrative expenses

 

5,576

 

7,658

 

5,571

 

5,576

 

13,686

 

30,028

 

16,292

 

13,686

        

NET INCOME (LOSS)

$

(8,290)

$

134,659

$

(7,076)

$

(8,290)

        

Net income (loss) allocated to
assignees


$


(8,207)


$


133,312


$


(7,005)


$


(8,207)

        

Net income (loss) allocated to general
partner


$


(83)


$


1,347


$


(71)


$


(83)

        

Net income (loss) per BAC

$

(.00)

$

.04

$

(.00)

$

(.00)



The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 36

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

2,465

$

1,895

$

6,084

$

2,465

Other income

 

-

 

-

 

-

 

-

 

2,465

 

1,895

 

6,084

 

2,465

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


9,941

 


-

        

Expenses

        

Professional fees

 

657

 

716

 

11,756

 

657

Fund management fee, net (Note C)

 

7,626

 

7,626

 

1,775

 

7,626

General and administrative expenses

 

4,272

 

5,466

 

4,335

 

4,272

 

12,555

 

13,808

 

17,866

 

12,555

        

NET INCOME (LOSS)

$

(10,090)

$

(11,913)

$

(1,841)

$

(10,090)

        

Net income (loss) allocated to
assignees


$


(9,989)


$


(11,794)


$


(1,823)


$


(9,989)

        

Net income (loss) allocated to general
partner


$


(101)


$


(119)


$


(18)


$


(101)

        

Net income (loss) per BAC

$

(.00)

$

(.01)

$

(.00)

$

(.00)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 37

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

Interest income

$

1,144

$

1,375

$

258

$

1,144

Other income

 

-

 

-

 

-

 

-

 

1,144

 

1,375

 

258

 

1,144

        
        

Share of income from
Operating Partnerships (Note D)

 


140,415

 


-

Gain on Disposition of
Operating Partnerships

 


41,726

 


140,415

        

Expenses

        

Professional fees

 

657

 

804

 

2,085

 

657

Fund management fee, net (Note C)

 

10,957

 

26,424

 

-

 

10,957

General and administrative expenses

 

4,318

 

5,994

 

38,356

 

4,318

 

15,932

 

33,222

 

40,441

 

15,932

        

NET INCOME (LOSS)

$

125,627

$

(31,847)

$

1,543

$

125,627

        

Net income (loss) allocated to
assignees


$


124,371


$


(31,529)


$


1,528


$


124,371

        

Net income (loss) allocated to general
partner


$


1,256


$


(318)


$


15


$


1,256

        

Net income (loss) per BAC

$

.05

$

(.01)

$

.00

$

.05



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 38

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

Interest income

$

3,593

$

258

$

817

$

3,593

Other income

 

7,020

 

18,350

 

20,202

 

7,020

 

10,613

 

18,608

 

21,019

 

10,613

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


1,795,010

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

657

 

2,100

 

1,459

 

657

Fund management fee, net (Note C)

 

8,034

 

27,579

 

10,581

 

8,034

General and administrative expenses

 

4,808

 

6,312

 

4,820

 

4,808

 

13,499

 

35,991

 

16,860

 

13,499

        

NET INCOME (LOSS)

$

(2,886)

$

1,777,627

$

4,159

$

(2,886)

        

Net income (loss) allocated to
assignees


$


(2,857)


$


1,759,851


$


4,117


$


(2,857)

        

Net income (loss) allocated to general
partner


$


(29)


$


17,776


$


42


$


(29)

        

Net income (loss) per BAC

$

(.00)

$

.69

$

.00

$

(.00)



The accompanying notes are an integral part of this condensed statement

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 39

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

175

$

103

$

-

$

175

Other income

 

-

 

550

 

-

 

-

 

175

 

653

 

-

 

175

        
        

Share of income from
Operating Partnerships (Note D)

 


17,779

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


17,779

        

Expenses

        

Professional fees

 

1,314

 

1,944

 

-

 

1,314

Fund management fee, net (Note C)

 

1,712

 

13,623

 

-

 

1,712

General and administrative expenses

 

34,495

 

5,308

 

-

 

34,495

 

37,521

 

20,875

 

-

 

37,521

        

NET INCOME (LOSS)

$

(19,567)

$

(20,222)

$

-

$

(19,567)

        

Net income (loss) allocated to
assignees


$


(19,371)


$


(20,020)


$


-


$


(19,371)

        

Net income (loss) allocated to general
partner


$


(196)


$


(202)


$


-


$


(196)

        

Net income (loss) per BAC

$

(.01)

$

(.01)

$

-

$

(.01)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 40

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

830

$

40

$

977

$

830

Other income

2,262

-

-

2,262

 

3,092

 

40

 

977

 

3,092

        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

657

 

785

 

1,390

 

657

Fund management fee, net (Note C)

 

15,119

 

33,579

 

23,390

 

15,119

General and administrative expenses

 

5,228

 

6,820

 

5,346

 

5,228

 

21,004

 

41,184

 

30,126

 

21,004

        

NET INCOME (LOSS)

$

(17,912)

$

(41,144)

$

(29,149)

$

(17,912)

        

Net income (loss) allocated to
assignees


$


(17,733)


$


(40,733)


$


(28,858)


$


(17,733)

        

Net income (loss) allocated to general
partner


$


(179)


$


(411)


$


(291)


$


(179)

        

Net income (loss) per BAC

$

(.01)

$

(.02)

$

(.01)

$

(.01)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 41

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

1,070

$

137

$

1,165

$

1,070

Other income

 

2,765

 

-

 

-

 

2,765

 

3,835

 

137

 

1,165

 

3,835

        
        

Share of income from
Operating Partnerships (Note D)

 


63,058

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


63,058

        

Expenses

        

Professional fees

 

657

 

961

 

1,620

 

657

Fund management fee, net (Note C)

 

37,849

 

49,440

 

32,161

 

37,849

General and administrative expenses

 

7,821

 

8,370

 

6,207

 

7,821

 

46,327

 

58,771

 

39,988

 

46,327

        

NET INCOME (LOSS)

$

20,566

$

(58,634)

$

(38,823)

$

20,566

        

Net income (loss) allocated to
assignees


$


20,360


$


(58,048)


$


(38,435)


$


20,360

        

Net income (loss) allocated to general
partner


$


206


$


(586)


$


(388)


$


206

        

Net income (loss) per BAC

$

.01

$

(.02)

$

(.01)

$

.01



The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 42

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

5,466

$

607

$

4,775

$

5,466

Other income

 

172

 

52

 

13,734

 

172

 

5,638

 

659

 

18,509

 

5,638

        
        

Share of income from
Operating Partnerships (Note D)

 


262,279

 


-

Gain on Disposition of
Operating Partnerships

 


11,822

 


262,279

Expenses

        

Professional fees

 

657

 

870

 

1,499

 

657

Fund management fee, net (Note C)

 

35,049

 

42,506

 

23,431

 

35,049

General and administrative expenses

 

6,073

 

7,558

 

5,829

 

6,073

 

41,779

 

50,934

 

30,759

 

41,779

        

NET INCOME (LOSS)

$

226,138

$

(50,275)

$

(428)

$

226,138

        

Net income (loss) allocated to
assignees


$


223,877


$


(49,772)


$


(424)


$


223,877

        

Net income (loss) allocated to general
partner


$


2,261


$


(503)


$


(4)


$


2,261

        

Net income (loss) per BAC

$

.08

$

(.02)

$

(.00)

$

.08



The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 43

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

4,962

$

455

$

1,434

$

4,962

Other income

 

-

 

-

 

-

 

-

 

4,962

 

455

 

1,434

 

4,962

        
        

Share of income from
Operating Partnerships (Note D)

 


225,500

 


-

Gain on Disposition of
Operating Partnerships

 


66,520

 


225,500

        

Expenses

        

Professional fees

 

657

 

1,037

 

1,758

 

657

Fund management fee, net (Note C)

 

54,247

 

53,693

 

5,532

 

54,247

General and administrative expenses

 

7,497

 

9,444

 

7,336

 

7,497

 

62,401

 

64,174

 

14,626

 

62,401

        

NET INCOME (LOSS)

$

168,061

$

(63,719)

$

53,328

$

168,061

        

Net income (loss) allocated to
assignees


$


166,380


$


(63,082)


$


52,795


$


166,380

        

Net income (loss) allocated to general
partner


$


1,681


$


(637)


$


533


$


1,681

        

Net income (loss) per BAC

$

.05

$

(.02)

$

.01

$

.05



The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 44

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

61

$

4

$

196

$

61

Other income

 

6,895

 

2,187

 

813

 

6,895

 

6,956

 

2,191

 

1,009

 

6,956

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

657

 

823

 

1,523

 

657

Fund management fee, net (Note C)

 

31,705

 

60,012

 

53,683

 

31,705

General and administrative expenses

 

5,377

 

6,755

 

5,540

 

5,377

 

37,739

 

67,590

 

60,746

 

37,739

        

NET INCOME (LOSS)

$

(30,783)

$

(65,399)

$

(59,737)

$

(30,783)

        

Net income (loss) allocated to
assignees


$


(30,475)


$


(64,745)


$


(59,140)


$


(30,475)

        

Net income (loss) allocated to general
partner


$


(308)


$


(654)


$


(597)


$


(308)

        

Net income (loss) per BAC

$

(.01)

$

(.02)

$

(.02)

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 45

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

854

$

271

$

2,877

$

854

Other income

 

-

 

388

 

387

 

-

 

854

 

659

 

3,264

 

854

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

5,278

 

1,852

 

1,878

 

5,278

Fund management fee, net (Note C)

 

68,354

 

58,020

 

62,910

 

68,354

General and administrative expenses

 

8,963

 

11,176

 

9,007

 

8,963

 

82,595

 

71,048

 

73,795

 

82,595

        

NET INCOME (LOSS)

$

(81,741)

$

(70,389)

$

(70,531)

$

(81,741)

        

Net income (loss) allocated to
assignees


$


(80,924)


$


(69,685)


$


(69,826)


$


(80,924)

Net income (loss) allocated to general
partner


$


(817)


$


(704)


$


(705)


$


(817)

        

Net income (loss) per BAC

$

(.02)

$

(.02)

$

(.02)

$

(.02)



The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 46

 

 

 

2017

2016

2018

2017

Income

        

Interest income

$

725

$

99

$

1,314

$

725

Other income

 

16,348

 

-

 

-

 

16,348

 

17,073

 

99

 

1,314

 

17,073

        
        

Share of income from
Operating Partnerships (Note D)

 


10,994

 


393,183

Gain on Disposition of
Operating Partnerships

 


-

 


10,994

        

Expenses

        

Professional fees

 

657

 

895

 

1,607

 

657

Fund management fee, net (Note C)

 

45,368

 

47,745

 

49,299

 

45,368

General and administrative expenses

 

6,490

 

8,118

 

6,723

 

6,490

 

52,515

 

56,758

 

57,629

 

52,515

        

NET INCOME (LOSS)

$

(24,448)

$

336,524

$

(56,315)

$

(24,448)

        

Net income (loss) allocated to
assignees


$


(24,204)


$


333,159


$


(55,752)


$


(24,204)

        

Net income (loss) allocated to general
partner


$


(244)


$


3,365


$


(563)


$


(244)

        

Net income (loss) per BAC

$

(.01)

$

.11

$

(.02)

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

 

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

80,976

$

39,255

$

163,651

$

80,976

Other income

 

254,126

 

219,790

 

292,224

 

254,126

335,102

259,045

455,875

335,102

        
        

Share of income from
Operating Partnerships (Note D)

 


11,305,952

 


13,992,959

Gain on Disposition of
Operating Partnerships

 


3,086,786

 


11,305,952

        

Expenses

        

Professional fees

 

581,933

 

648,169

 

497,467

 

581,933

Fund management fee, net (Note C)

 

1,530,568

 

1,924,211

 

1,192,744

 

1,530,568

General and administrative expenses

 

508,530

 

504,870

 

547,591

 

508,530

 

2,621,031

 

3,077,250

 

2,237,802

 

2,621,031

        

NET INCOME (LOSS)

$

9,020,023

$

11,174,754

$

1,304,859

$

9,020,023

        

Net income (loss) allocated to
assignees


$


8,929,822


$


11,063,009


$


1,291,810


$


8,929,822

        

Net income (loss) allocated to general
partner


$


90,201


$


111,745


$


13,049


$


90,201

        

Net income (loss) per BAC

$

.11

$

.13

$

.02

$

.11



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 20

 

 

 

2017

 

2016

 

2018

 

2017

Income

Interest income

$

350

$

334

$

1,340

$

350

Other income

 

-

 

-

 

-

 

-

 

350

 

334

 

1,340

 

350

        
        

Share of income from
Operating Partnerships (Note D)

 


42,000

 


138,000

Gain on Disposition of
Operating Partnerships

 


197,337

 


42,000

        

Expenses

        

Professional fees

 

14,281

 

13,141

 

14,501

 

14,281

Fund management fee, net (Note C)

 

14,295

 

18,075

 

7,369

 

14,295

General and administrative expenses

 

16,976

 

21,699

 

47,828

 

16,976

 

45,552

 

52,915

 

69,698

 

45,552

        

NET INCOME (LOSS)

$

(3,202)

$

85,419

$

128,979

$

(3,202)

        

Net income (loss) allocated to
assignees


$


(3,170)


$


84,565


$


127,689


$


(3,170)

        

Net income (loss) allocated to general
partner


$


(32)


$


854


$


1,290


$


(32)

        

Net income (loss) per BAC

$

(.00)

$

.02

$

.03

$

(.00)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 21

 

 

 

2017

2016

2018

2017

Income

        

Interest income

$

137

$

486

$

-

$

137

Other income

 

859

 

859

 

-

 

859

 

996

 

1,345

 

-

 

996

        
        

Share of income from
Operating Partnerships (Note D)

 


67,000

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


67,000

        

Expenses

        

Professional fees

 

12,275

 

13,453

 

-

 

12,275

Fund management fee, net (Note C)

 

5,603

 

6,103

 

-

 

5,603

General and administrative expenses

 

40,874

 

14,649

 

-

 

40,874

 

58,752

 

34,205

 

-

 

58,752

        

NET INCOME (LOSS)

$

9,244

$

(32,860)

$

-

$

9,244

        

Net income (loss) allocated to
assignees


$


9,152


$


(32,531)


$


-


$


9,152

        

Net income (loss) allocated to general
partner


$


92


$


(329)


$


-


$


92

        

Net income (loss) per BAC

$

.00

$

(.02)

$

-

$

.00



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 22

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

361

$

291

$

1,579

$

361

Other income

 

-

 

-

 

-

 

-

 

361

 

291

 

1,579

 

361

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


38,000

 


-

        

Expenses

        

Professional fees

 

12,818

 

15,679

 

13,451

 

12,818

Fund management fee, net (Note C)

 

21,409

 

21,406

 

18,778

 

21,409

General and administrative expenses

 

14,441

 

17,703

 

45,494

 

14,441

 

48,668

 

54,788

 

77,723

 

48,668

        

NET INCOME (LOSS)

$

(48,307)

$

(54,497)

$

(38,144)

$

(48,307)

        

Net income (loss) allocated to
assignees


$


(47,824)


$


(53,952)


$


(37,763)


$


(47,824)

        

Net income (loss) allocated to general
partner


$


(483)


$


(545)


$


(381)


$


(483)

        

Net income (loss) per BAC

$

(.02)

$

(.02)

$

(.01)

$

(.02)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 23

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

3,364

$

230

$

2,045

$

3,364

Other income

 

5,932

 

-

 

3,955

 

5,932

 

9,296

 

230

 

6,000

 

9,296

        
        

Share of income from
Operating Partnerships (Note D)

 


989,962

 


3,550

Gain on Disposition of
Operating Partnerships

 


43,500

 


989,962

        

Expenses

        

Professional fees

 

16,579

 

19,409

 

15,332

 

16,579

Fund management fee, net (Note C)

 

14,918

 

23,012

 

13,062

 

14,918

General and administrative expenses

 

16,306

 

20,966

 

48,108

 

16,306

 

47,803

 

63,387

 

76,502

 

47,803

        

NET INCOME (LOSS)

$

951,455

$

(59,607)

$

(27,002)

$

951,455

        

Net income (loss) allocated to
assignees


$


941,940


$


(59,011)


$


(26,732)


$


941,940

        

Net income (loss) allocated to general
partner


$


9,515


$


(596)


$


(270)


$


9,515

        

Net income (loss) per BAC

$

.28

$

(.02)

$

(.01)

$

.28



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

 

Series 24

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

Interest income

$

372

$

297

$

1,826

$

372

Other income

 

748

 

3,846

 

582

 

748

 

1,120

 

4,143

 

2,408

 

1,120

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


23,678

 


-

        

Expenses

        

Professional fees

 

14,336

 

13,968

 

15,254

 

14,336

Fund management fee, net (Note C)

 

34,929

 

32,407

 

30,282

 

34,929

General and administrative expenses

 

13,969

 

17,215

 

14,432

 

13,969

 

63,234

 

63,590

 

59,968

 

63,234

        

NET INCOME (LOSS)

$

(62,114)

$

(59,447)

$

(33,882)

$

(62,114)

        

Net income (loss) allocated to
assignees


$


(61,493)


$


(58,853)


$


(33,543)


$


(61,493)

        

Net income (loss) allocated to general
partner


$


(621)


$


(594)


$


(339)


$


(621)

        

Net income (loss) per BAC

$

(.03)

$

(.03)

$

(.02)

$

(.03)



The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 25

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

Interest income

$

143

$

256

$

-

$

143

Other income

 

10,178

 

10,178

 

-

 

10,178

 

10,321

 

10,434

 

-

 

10,321

        
        

Share of income from
Operating Partnerships (Note D)

 


97,399

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


97,399

        

Expenses

        

Professional fees

 

13,993

 

12,762

 

-

 

13,993

Fund management fee, net (Note C)

 

9,682

 

11,342

 

-

 

9,682

General and administrative expenses

 

49,639

 

20,196

 

-

 

49,639

 

73,314

 

44,300

 

-

 

73,314

        

NET INCOME (LOSS)

$

34,406

$

(33,866)

$

-

$

34,406

        

Net income (loss) allocated to
assignees


$


34,062


$


(33,527)


$


-


$


34,062

        

Net income (loss) allocated to general
partner


$


344


$


(339)


$


-


$


344

        

Net income (loss) per BAC

$

.01

$

(.01)

$

-

$

.01



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 26

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

799

$

802

$

3,115

$

799

Other income

 

526

 

6,176

 

420

 

526

 

1,325

 

6,978

 

3,535

 

1,325

        
        

Share of income from
Operating Partnerships (Note D)

 


80,000

 


18,500

Gain on Disposition of
Operating Partnerships

 


10,500

 


80,000

        

Expenses

        

Professional fees

 

20,884

 

23,890

 

22,612

 

20,884

Fund management fee, net (Note C)

 

56,858

 

65,190

 

42,485

 

56,858

General and administrative expenses

 

18,331

 

25,561

 

18,890

 

18,331

 

96,073

 

114,641

 

83,987

 

96,073

        

NET INCOME (LOSS)

$

(14,748)

$

(89,163)

$

(69,952)

$

(14,748)

        

Net income (loss) allocated to
assignees


$


(14,601)


$


(88,271)


$


(69,252)


$


(14,601)

        

Net income (loss) allocated to general
partner


$


(147)


$


(892)


$

 

(700)


$


(147)

        

Net income (loss) per BAC

$

(.00)

$

(.02)

$

(.02)

$

(.00)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 27

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

19,993

$

6,629

$

44,222

$

19,993

Other income

 

17,473

 

6,000

 

1,366

 

17,473

 

37,466

 

12,629

 

45,588

 

37,466

        
        

Share of income from
Operating Partnerships (Note D)

 


3,291,567

 


3,016,000

Gain on Disposition of
Operating Partnerships

 


-

 


3,291,567

        

Expenses

        

Professional fees

 

79,116

 

104,403

 

16,741

 

79,116

Fund management fee, net (Note C)

 

22,678

 

74,018

 

10,525

 

22,678

General and administrative expenses

 

13,797

 

16,382

 

14,511

 

13,797

 

115,591

 

194,803

 

41,777

 

115,591

        

NET INCOME (LOSS)

$

3,213,442

$

2,833,826

$

3,811

$

3,213,442

        

Net income (loss) allocated to
assignees


$


3,181,308


$


2,805,488


$


3,773


$


3,181,308

        

Net income (loss) allocated to general
partner


$


32,134


$


28,338


$


38


$


32,134

        

Net income (loss) per BAC

$

1.30

$

1.14

$

.00

$

1.30



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 28

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

872

$

884

$

3,212

$

872

Other income

 

446

 

7,976

 

446

 

446

 

1,318

 

8,860

 

3,658

 

1,318

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


5,000

Gain on Disposition of
Operating Partnerships

 


8,500

 


-

        

Expenses

        

Professional fees

 

16,372

 

20,687

 

14,429

 

16,372

Fund management fee, net (Note C)

 

24,532

 

12,835

 

21,436

 

24,532

General and administrative expenses

 

16,815

 

22,425

 

17,418

 

16,815

 

57,719

 

55,947

 

53,283

 

57,719

        

NET INCOME (LOSS)

$

(56,401)

$

(42,087)

$

(41,125)

$

(56,401)

        

Net income (loss) allocated to
assignees


$


(55,837)


$


(41,666)


$


(40,714)


$


(55,837)

        

Net income (loss) allocated to general
partner


$


(564)


$


(421)


$


(411)


$


(564)

        

Net income (loss) per BAC

$

(.01)

$

(.01)

$

(.01)

$

(.01)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 29

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

493

$

606

$

3,313

$

493

Other income

 

-

 

-

 

-

 

-

 

493

 

606

 

3,313

 

493

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


123,094

 


-

        

Expenses

        

Professional fees

 

17,325

 

62,411

 

17,244

 

17,325

Fund management fee, net (Note C)

 

58,253

 

53,985

 

26,615

 

58,253

General and administrative expenses

 

17,560

 

22,389

 

18,184

 

17,560

 

93,138

 

138,785

 

62,043

 

93,138

        

NET INCOME (LOSS)

$

(92,645)

$

(138,179)

$

64,364

$

(92,645)

        

Net income (loss) allocated to
assignees


$


(91,719)


$


(136,797)


$


63,720


$


(91,719)

        

Net income (loss) allocated to general
partner


$


(926)


$


(1,382)


$


644


$


(926)

        

Net income (loss) per BAC

$

(.02)

$

(.03)

$

.02

$

(.02)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 30

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

700

$

503

$

2,269

$

700

Other income

 

1,243

 

1,243

 

2,049

 

1,243

 

1,943

 

1,746

 

4,318

 

1,943

        
        

Share of income from
Operating Partnerships (Note D)

 


265,984

 


-

Gain on Disposition of
Operating Partnerships

 


195,182

 


265,984

        

Expenses

        

Professional fees

 

15,688

 

19,058

 

18,592

 

15,688

Fund management fee, net (Note C)

 

(9,082)

 

42,047

 

18,242

 

(9,082)

General and administrative expenses

 

13,963

 

16,733

 

47,855

 

13,963

 

20,569

 

77,838

 

84,689

 

20,569

        

NET INCOME (LOSS)

$

247,358

$

(76,092)

$

114,811

$

247,358

        

Net income (loss) allocated to
assignees


$


244,884


$


(75,331)


$


113,663


$


244,884

        

Net income (loss) allocated to general
partner


$


2,474


$


(761)


$


1,148


$


2,474

        

Net income (loss) per BAC

$

.09

$

(.03)

$

.04

$

.09



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 31

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

4,736

$

2,103

$

13,940

$

4,736

Other income

 

1,116

 

590

 

476

 

1,116

 

5,852

 

2,693

 

14,416

 

5,852

        
        

Share of income from
Operating Partnerships (Note D)

 


45,000

 


791,947

Gain on Disposition of
Operating Partnerships

 


105,794

 


45,000

        

Expenses

        

Professional fees

 

26,529

 

24,365

 

24,053

 

26,529

Fund management fee, net (Note C)

 

60,990

 

107,063

 

50,192

 

60,990

General and administrative expenses

 

17,307

 

22,281

 

17,848

 

17,307

 

104,826

 

153,709

 

92,093

 

104,826

        

NET INCOME (LOSS)

$

(53,974)

$

640,931

$

28,117

$

(53,974)

        

Net income (loss) allocated to
assignees


$


(53,434)


$


634,522


$


27,836


$


(53,434)

        

Net income (loss) allocated to general
partner


$


(540)


$


6,409


$


281


$


(540)

        

Net income (loss) per BAC

$

(.01)

$

.14

$

.01

$

(.01)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 32

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

2,930

$

1,143

$

1,697

$

2,930

Other income

 

11,000

 

1,800

 

-

 

11,000

 

13,930

 

2,943

 

1,697

 

13,930

        
        

Share of income from
Operating Partnerships (Note D)

 


1,677,252

 


48,900

Gain on Disposition of
Operating Partnerships

 


487,880

 


1,677,252

        

Expenses

        

Professional fees

 

19,436

 

18,628

 

22,552

 

19,436

Fund management fee, net (Note C)

 

63,474

 

115,780

 

60,175

 

63,474

General and administrative expenses

 

21,626

 

22,959

 

18,395

 

21,626

 

104,536

 

157,367

 

101,122

 

104,536

        

NET INCOME (LOSS)

$

1,586,646

$

(105,524)

$

388,455

$

1,586,646

        

Net income (loss) allocated to
assignees


$


1,570,780


$


(104,469)


$


384,570


$


1,570,780

        

Net income (loss) allocated to general
partner


$


15,866


$


(1,055)


$


3,885


$


15,866

        

Net income (loss) per BAC

$

.33

$

(.02)

$

.08

$

.33



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,

(Unaudited)

Series 33

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

511

$

1,258

$

2,752

$

511

Other income

 

5,329

 

1,800

2,536

5,329

 

5,840

 

3,058

 

5,288

 

5,840

        
        

Share of income from
Operating Partnerships (Note D)

 


67,454

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


67,454

        

Expenses

        

Professional fees

 

13,651

 

14,835

 

15,160

 

13,651

Fund management fee, net (Note C)

 

23,109

 

41,524

 

31,535

 

23,109

General and administrative expenses

 

13,345

 

15,875

 

14,004

 

13,345

 

50,105

 

72,234

 

60,699

 

50,105

        

NET INCOME (LOSS)

$

23,189

$

(69,176)

$

(55,411)

$

23,189

        

Net income (loss) allocated to
assignees


$


22,957


$


(68,484)


$


(54,857)


$


22,957

        

Net income (loss) allocated to general
partner


$


232


$


(692)


$


(554)


$


232

        

Net income (loss) per BAC

$

.01

$

(.03)

$

(.02)

$

.01



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 34

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

Interest income

$

1,448

$

1,114

$

1,984

$

1,448

Other income

 

1,539

 

13,230

 

1,539

 

1,539

 

2,987

 

14,344

 

3,523

 

2,987

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


630,691

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

17,291

 

18,698

 

13,519

 

17,291

Fund management fee, net (Note C)

 

32,897

 

29,061

 

32,897

 

32,897

General and administrative expenses

 

15,123

 

18,676

 

15,960

 

15,123

 

65,311

 

66,435

 

62,376

 

65,311

NET INCOME (LOSS)

$

(62,324)

$

578,600

$

(58,853)

$

(62,324)

        

Net income (loss) allocated to
assignees


$


(61,701)


$


572,814


$


(58,264)


$


(61,701)

        

Net income (loss) allocated to general
partner


$


(623)


$


5,786


$


(589)


$


(623)

        

Net income (loss) per BAC

$

(.02)

$

.16

$

(.02)

$

(.02)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 35

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

9,031

$

6,166

$

25,453

$

9,031

Other income

 

2,818

 

4,893

 

-

 

2,818

11,849

11,059

25,453

11,849

        
        

Share of income from
Operating Partnerships (Note D)

 


2,653,528

 


2,543,187

Gain on Disposition of
Operating Partnerships

 


-

 


2,653,528

        

Expenses

Professional fees

 

16,632

 

18,070

 

18,579

 

16,632

Fund management fee, net (Note C)

 

39,956

 

33,179

 

18,759

 

39,956

General and administrative expenses

 

14,895

 

18,647

 

15,513

 

14,895

 

71,483

 

69,896

 

52,851

 

71,483

        

NET INCOME (LOSS)

$

2,593,894

$

2,484,350

$

(27,398)

$

2,593,894

        

Net income (loss) allocated to
assignees


$


2,567,955


$


2,459,507


$


(27,124)


$


2,567,955

        

Net income (loss) allocated to general
partner


$


25,939


$


24,843


$


(274)


$


25,939

        

Net income (loss) per BAC

$

.78

$

.75

$

(.01)

$

.78



The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 36

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

5,764

$

3,772

$

15,772

$

5,764

Other income

 

3,968

 

6,425

 

5,119

 

3,968

 

9,732

 

10,197

 

20,891

 

9,732

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


2,503,252

Gain on Disposition of
Operating Partnerships

 


253,104

 


-

        

Expenses

        

Professional fees

 

17,448

 

16,697

 

67,005

 

17,448

Fund management fee, net (Note C)

 

20,968

 

(2,956)

 

13,481

 

20,968

General and administrative expenses

 

12,507

 

14,229

 

12,954

 

12,507

 

50,923

 

27,970

 

93,440

 

50,923

        

NET INCOME (LOSS)

$

(41,191)

$

2,485,479

$

180,555

$

(41,191)

        

Net income (loss) allocated to
assignees


$


(40,779)


$


2,460,624


$


178,749


$


(40,779)

        

Net income (loss) allocated to general
partner


$


(412)


$


24,855


$


1,806


$


(412)

        

Net income (loss) per BAC

$

(.02)

$

1.17

$

.09

$

(.02)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 37

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

Interest income

$

4,368

$

2,228

$

1,784

$

4,368

Other income

 

16,657

 

4,811

 

21,485

 

16,657

 

21,025

 

7,039

 

23,269

 

21,025

        
        

Share of income from
Operating Partnerships (Note D)

 


140,415

 


1,934,639

Gain on Disposition of
Operating Partnerships

 


1,062,375

 


140,415

        

Expenses

        

Professional fees

 

16,628

 

13,932

 

13,306

 

16,628

Fund management fee, net (Note C)

 

27,941

 

89,661

 

5,562

 

27,941

General and administrative expenses

 

12,567

 

15,031

 

50,977

 

12,567

 

57,136

 

118,624

 

69,845

 

57,136

        

NET INCOME (LOSS)

$

104,304

$

1,823,054

$

1,015,799

$

104,304

        

Net income (loss) allocated to
assignees


$


103,261


$


1,804,823


$


1,005,641


$


103,261

        

Net income (loss) allocated to general
partner


$


1,043


$


18,231


$


10,158


$


1,043

        

Net income (loss) per BAC

$

.04

$

.72

$

.40

$

.04



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 38

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

Interest income

$

6,938

$

571

$

5,374

$

6,938

Other income

 

17,566

 

66,141

 

70,202

 

17,566

 

24,504

 

66,712

 

75,576

 

24,504

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


1,795,010

Gain on Disposition of
Operating Partnerships

 


7,000

 


-

        

Expenses

        

Professional fees

 

18,459

 

18,795

 

13,675

 

18,459

Fund management fee, net (Note C)

 

44,002

 

87,297

 

42,396

 

44,002

General and administrative expenses

 

13,369

 

15,656

 

13,845

 

13,369

 

75,830

 

121,748

 

69,916

 

75,830

        

NET INCOME (LOSS)

$

(51,326)

$

1,739,974

$

12,660

$

(51,326)

        

Net income (loss) allocated to
assignees


$


(50,813)


$


1,722,574


$


12,533


$


(50,813)

        

Net income (loss) allocated to general
partner


$


(513)


$


17,400


$


127


$


(513)

        

Net income (loss) per BAC

$

(.02)

$

.68

$

.00

$

(.02)



The accompanying notes are an integral part of this condensed statement

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 39

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

870

$

378

$

-

$

870

Other income

 

386

 

1,210

 

-

 

386

 

1,256

 

1,588

 

-

 

1,256

        
        

Share of income from
Operating Partnerships (Note D)

 


17,779

 


122,100

Gain on Disposition of
Operating Partnerships

 


-

 


17,779

        

Expenses

        

Professional fees

 

19,295

 

17,935

 

-

 

19,295

Fund management fee, net (Note C)

 

5,130

 

46,920

 

-

 

5,130

General and administrative expenses

 

42,679

 

13,893

 

-

 

42,679

 

67,104

 

78,748

 

-

 

67,104

        

NET INCOME (LOSS)

$

(48,069)

$

44,940

$

-

$

(48,069)

        

Net income (loss) allocated to
assignees


$


(47,588)


$


44,491


$


-


$


(47,588)

        

Net income (loss) allocated to general
partner


$


(481)


$


449


$


-


$


(481)

        

Net income (loss) per BAC

$

(.02)

$

.02

$

-

$

(.02)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 40

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

923

$

276

$

2,395

$

923

Other income

5,172

-

1,250

5,172

 

6,095

 

276

 

3,645

 

6,095

        

Share of income from
Operating Partnerships (Note D)

 


588,952

 


49,000

Gain on Disposition of
Operating Partnerships

 


44,500

 


588,952

        

Expenses

        

Professional fees

 

22,111

 

21,422

 

18,131

 

22,111

Fund management fee, net (Note C)

 

73,594

 

97,630

 

69,028

 

73,594

General and administrative expenses

 

13,758

 

16,028

 

14,594

 

13,758

 

109,463

 

135,080

 

101,753

 

109,463

        

NET INCOME (LOSS)

$

485,584

$

(85,804)

$

(53,608)

$

485,584

        

Net income (loss) allocated to
assignees


$


480,728


$


(84,946)


$


(53,072)


$


480,728

        

Net income (loss) allocated to general
partner


$


4,856


$


(858)


$


(536)


$


4,856

        

Net income (loss) per BAC

$

.18

$

(.03)

$

(.02)

$

.18



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 41

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

    

Interest income

$

1,480

$

492

$

3,242

$

1,480

Other income

 

13,908

 

1,302

 

37,141

 

13,908

 

15,388

 

1,794

 

40,383

 

15,388

        
        

Share of income from
Operating Partnerships (Note D)

 


782,887

 


-

Gain on Disposition of
Operating Partnerships

 


14,000

 


782,887

        

Expenses

        

Professional fees

 

23,062

 

24,561

 

25,691

 

23,062

Fund management fee, net (Note C)

 

141,487

 

153,988

 

90,022

 

141,487

General and administrative expenses

 

17,027

 

18,513

 

16,069

 

17,027

 

181,576

 

197,062

 

131,782

 

181,576

        

NET INCOME (LOSS)

$

616,699

$

(195,268)

$

(77,399)

$

616,699

        

Net income (loss) allocated to
assignees


$


610,532


$


(193,315)


$


(76,625)


$


610,532

        

Net income (loss) allocated to general
partner


$


6,167


$


(1,953)


$


(774)


$


6,167

        

Net income (loss) per BAC

$

.21

$

(.07)

$

(.03)

$

.21



The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 42

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

6,138

$

3,496

$

11,761

$

6,138

Other income

 

15,960

 

472

 

20,325

 

15,960

 

22,098

 

3,968

 

32,086

 

22,098

        
        

Share of income from
Operating Partnerships (Note D)

 


262,279

 


-

Gain on Disposition of
Operating Partnerships

 


54,322

 


262,279

Expenses

        

Professional fees

 

20,336

 

26,102

 

23,325

 

20,336

Fund management fee, net (Note C)

 

113,842

 

120,924

 

56,827

 

113,842

General and administrative expenses

 

14,961

 

17,565

 

15,148

 

14,961

 

149,139

 

164,591

 

95,300

 

149,139

        

NET INCOME (LOSS)

$

135,238

$

(160,623)

$

(8,892)

$

135,238

        

Net income (loss) allocated to
assignees


$


133,886


$


(159,017)


$


(8,803)


$


133,886

        

Net income (loss) allocated to general
partner


$


1,352


$


(1,606)


$


(89)


$


1,352

        

Net income (loss) per BAC

$

.05

$

(.06)

$

(.00)

$

.05



The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 43

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

5,156

$

3,623

$

4,730

$

5,156

Other income

 

40,981

 

1,759

 

48,808

 

40,981

 

46,137

 

5,382

 

53,538

 

46,137

        
        

Share of income from
Operating Partnerships (Note D)

 


225,500

 


-

Gain on Disposition of
Operating Partnerships

 


75,520

 


225,500

        

Expenses

        

Professional fees

 

23,379

 

27,511

 

25,094

 

23,379

Fund management fee, net (Note C)

 

150,203

 

135,689

 

78,206

 

150,203

General and administrative expenses

 

17,057

 

20,940

 

17,735

 

17,057

 

190,639

 

184,140

 

121,035

 

190,639

        

NET INCOME (LOSS)

$

80,998

$

(178,758)

$

8,023

$

80,998

        

Net income (loss) allocated to
assignees


$


80,188


$


(176,970)


$


7,943


$


80,188

        

Net income (loss) allocated to general
partner


$


810


$


(1,788)


$


80


$


810

        

Net income (loss) per BAC

$

.02

$

(.05)

$

.00

$

.02



The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 44

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

    

Interest income

$

74

$

29

$

439

$

74

Other income

 

18,760

 

16,818

 

14,613

 

18,760

 

18,834

 

16,847

 

15,052

 

18,834

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

24,884

 

15,786

 

15,809

 

24,884

Fund management fee, net (Note C)

 

146,356

 

180,251

 

144,338

 

146,356

General and administrative expenses

 

14,015

 

16,293

 

14,879

 

14,015

 

185,255

 

212,330

 

175,026

 

185,255

        

NET INCOME (LOSS)

$

(166,421)

$

(195,483)

$

(159,974)

$

(166,421)

        

Net income (loss) allocated to
assignees


$


(164,757)


$


(193,528)


$


(158,374)


$


(164,757)

        

Net income (loss) allocated to general
partner


$


(1,664)


$


(1,955)


$


(1,600)


$


(1,664)

        

Net income (loss) per BAC

$

(.06)

$

(.07)

$

(.06)

$

(.06)



The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 45

 

 

 

 

2017

 

2016

 

2018

 

2017

Income

        

Interest income

$

1,752

$

938

$

6,470

$

1,752

Other income

 

27,833

 

32,262

 

26,708

 

27,833

 

29,585

 

33,200

 

33,178

 

29,585

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


342,500

 


-

        

Expenses

        

Professional fees

 

48,168

 

30,784

 

33,169

 

48,168

Fund management fee, net (Note C)

 

193,206

 

166,939

 

167,442

 

193,206

General and administrative expenses

 

19,978

 

23,743

 

20,368

 

19,978

 

261,352

 

221,466

 

220,979

 

261,352

        

NET INCOME (LOSS)

$

(231,767)

$

(188,266)

$

154,699

$

(231,767)

        

Net income (loss) allocated to
assignees


$


(229,449)


$


(186,383)


$


153,152


$


(229,449)

Net income (loss) allocated to general
partner


$


(2,318)


$


(1,883)


$


1,547


$


(2,318)

        

Net income (loss) per BAC

$

(.06)

$

(.05)

$

.04

$

(.06)



The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 46

 

 

 

2017

2016

2018

2017

Income

        

Interest income

$

1,273

$

350

$

2,937

$

1,273

Other income

 

33,728

 

29,999

 

33,204

 

33,728

 

35,001

 

30,349

 

36,141

 

35,001

        
        

Share of income from
Operating Partnerships (Note D)

 


10,994

 


393,183

Gain on Disposition of
Operating Partnerships

 


-

 


10,994

        

Expenses

        

Professional fees

 

20,957

 

21,187

 

20,243

 

20,957

Fund management fee, net (Note C)

 

139,338

 

160,841

 

143,090

 

139,338

General and administrative expenses

 

15,645

 

18,623

 

16,582

 

15,645

 

175,940

 

200,651

 

179,915

 

175,940

        

NET INCOME (LOSS)

$

(129,945)

$

222,881

$

(143,774)

$

(129,945)

        

Net income (loss) allocated to
assignees


$


(128,646)


$


220,652


$


(142,336)


$


(128,646)

        

Net income (loss) allocated to general
partner


$


(1,299)


$


2,229


$


(1,438)


$


(1,299)

        

Net income (loss) per BAC

$

(.04)

$

.07

$

(.05)

$

(.04)



The accompanying notes are an integral part of this condensed statement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 20172018
(Unaudited)

             


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

            

Partners' capital (deficit),
April 1, 2017


$


(6,338,126)


$


(7,177,685)


$


(13,515,811)

Partners' capital
(deficit)
April 1, 2018



$



2,931,035



$



(6,008,922)



$



(3,077,887)

            

Contributions

 

-

 

1,070,891

 

1,070,891

 

-

 

5,403,788

 

5,403,788

            

Distributions

 

(420,163)

 

-

 

(420,163)

 

(1,328,390)

 

(3,110)

 

(1,331,500)

            

Net income (loss)

 

8,929,822

 

90,201

 

9,020,023

 

1,291,810

 

13,049

 

1,304,859

            

Partners' capital (deficit),
December 31, 2017


$


2,171,533


$


(6,016,593)


$


(3,845,060)

Partners' capital
(deficit),
December 31, 2018



$



2,894,455



$



(595,195)



$



2,299,260





















 

 
















The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 20172018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 20

            

Partners' capital (deficit),
April 1, 2017


$


(875,631)


$


(320,211)


$


(1,195,842)

Partners' capital
(deficit)
April 1, 2018



$



(882,456)



$



(320,280)



$



(1,202,736)

            

Contributions

 

-

 

-

 

-

 

-

 

1,073,757

 

1,073,757

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

(3,170)

 

(32)

 

(3,202)

 

127,689

 

1,290

 

128,979

            

Partners' capital deficit),
December 31, 2017


$


(878,801)


$


(320,243)


$


(1,199,044)

Partners' capital
(deficit),
December 31, 2018



$



(754,767)



$



754,767



$



-



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 21

            

Partners' capital (deficit),
April 1, 2017


$


(907,383)


$


(172,752)


$


(1,080,135)

Partners' capital
(deficit)
April 1, 2018



$



(898,231)



$



898,231



$



-

            

Contributions

 

-

 

1,070,891

 

1,070,891

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

9,152

 

92

 

9,244

 

-

 

-

 

-

            

Partners' capital deficit),
December 31, 2017


$


(898,231)


$


898,231


$


-

Partners' capital
(deficit),
December 31, 2018



$



(898,231)



$



898,231



$



-



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 22

            

Partners' capital (deficit),
April 1, 2017


$


(2,351,781)


$


(245,052)


$


(2,596,833)

Partners' capital
(deficit)
April 1, 2018



$



(2,410,599)



$



(245,646)



$



(2,656,245)

            

Contributions

 

-

 

-

 

-

 

-

 

2,694,389

 

2,694,389

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

(47,824)

 

(483)

 

(48,307)

 

(37,763)

 

(381)

 

(38,144)

            

Partners' capital deficit),
December 31, 2017


$


(2,399,605)


$


(245,535)


$


(2,645,140)

Partners' capital
(deficit),
December 31, 2018



$



(2,448,362)



$



2,448,362



$



-


 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 20172018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 23

            

Partners' capital (deficit),
April 1, 2017


$


(1,131,355)


$


(299,152)


$


(1,430,507)

Partners' capital
(deficit)
April 1, 2018



$



(197,532)



$



(289,719)



$



(487,251)

            

Contributions

 

-

 

-

 

-

 

-

 

514,253

 

514,253

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

941,940

 

9,515

 

951,455

(26,732)

(270)

(27,002)

            

Partners' capital (deficit),
December 31, 2017


$


(189,415)


$


(289,637)


$


(479,052)

Partners' capital
(deficit),
December 31, 2018



$



(224,264)



$



224,264



$



-



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 24

            

Partners' capital deficit),
April 1, 2017


$


602,161


$


(174,980)


$


427,181

Partners' capital
(deficit)
April 1, 2018



$



623,279



$



(174,767)



$



448,512

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

(61,493)

 

(621)

 

(62,114)

 

(33,543)

 

(339)

 

(33,882)

            

Partners' capital deficit),
December 31, 2017


$


540,668


$


(175,601)


$


365,067

Partners' capital
(deficit),
December 31, 2018



$



589,736



$



(175,106)



$



414,630



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 25

            

Partners' capital deficit),
April 1, 2017


$


565,870


$


(220,159)


$


345,711

Partners' capital
(deficit)
April 1, 2018



$



219,815



$



(219,815)



$



-

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

(380,117)

 

-

 

(380,117)

 

-

 

-

 

-

            

Net income (loss)

 

34,062

 

344

 

34,406

 

-

 

-

 

-

            

Partners' capital deficit),
December 31, 2017


$


219,815


$


(219,815)


$


-

Partners' capital
(deficit),
December 31, 2018



$



219,815



$



(219,815)



$



-






The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 20172018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 26

            

Partners' capital deficit),
April 1, 2017


$


989,245


$


(311,566)


$


677,679

Partners' capital
(deficit)
April 1, 2018



$



954,178



$



(311,920)



$



642,258

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

(14,601)

 

(147)

 

(14,748)

 

(69,252)

 

(700)

 

(69,952)

            

Partners' capital deficit),
December 31, 2017


$


974,644


$


(311,713)


$


662,931

Partners' capital
(deficit),
December 31, 2018



$



884,926



$



(312,620)



$



572,306



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 27

            

Partners' capital deficit),
April 1, 2017


$


3,745,499


$


(170,699)


$


3,574,800

Partners' capital
(deficit)
April 1, 2018



$



6,938,381



$



(138,448)



$



6,799,933

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

(307,853)

 

(3,110)

 

(310,963)

            

Net income (loss)

 

3,181,308

 

32,134

 

3,213,442

 

3,773

 

38

 

3,811

            

Partners' capital deficit),
December 31, 2017


$


6,926,807


$


(138,565)


$


6,788,242

Partners' capital
(deficit),
December 31, 2018



$



6,634,301



$



(141,520)



$



6,492,781


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 28

            

Partners' capital deficit),
April 1, 2017


$


1,086,195


$


(273,712)


$


812,483

Partners' capital
(deficit)
April 1, 2018



$



1,016,975



$



(274,411)



$



742,564

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

(55,837)

 

(564)

 

(56,401)

 

(40,714)

 

(411)

 

(41,125)

            

Partners' capital deficit),
December 31, 2017


$


1,030,358


$


(274,276)


$


756,082

Partners' capital
(deficit),
December 31, 2018



$



976,261



$



(274,822)



$



701,439






The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 20172018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 29

            

Partners' capital deficit),
April 1, 2017


$


(2,771,714)


$


(370,065)


$


(3,141,779)

Partners' capital
(deficit)
April 1, 2018



$



(2,570,004)



$



(368,028)



$



(2,938,032)

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

(91,719)

 

(926)

 

(92,645)

 

63,720

 

644

 

64,364

            

Partners' capital deficit),
December 31, 2017


$


(2,863,433)


$


(370,991)


$


(3,234,424)

Partners' capital
(deficit),
December 31, 2018



$



(2,506,284)



$



(367,384)



$



(2,873,668)



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 30

            

Partners' capital deficit),
April 1, 2017


$


(1,235,163)


$


(241,826)


$


(1,476,989)

Partners' capital
(deficit)
April 1, 2018



$



(996,782)



$



(239,418)



$



(1,236,200)

            

Contributions

 

-

 

-

 

-

 

-

 

1,121,389

 

1,121,389

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

244,884

 

2,474

 

247,358

 

113,663

 

1,148

 

114,811

            

Partners' capital deficit),
December 31, 2017


$


(990,279)


$


(239,352)


$


(1,229,631)

Partners' capital
(deficit),
December 31, 2018



$



(883,119)



$



883,119



$



-



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 31

            

Partners' capital deficit),
April 1, 2017


$


2,365,549


$


(359,195)


$


2,006,354

Partners' capital
(deficit)
April 1, 2018



$



2,290,341



$



(359,955)



$



1,930,386

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

(53,434)

 

(540)

 

(53,974)

 

27,836

 

281

 

28,117

            

Partners' capital deficit),
December 31, 2017


$


2,312,115


$


(359,735)


$


1,952,380

Partners' capital
(deficit),
December 31, 2018



$



2,318,177



$



(359,674)



$



1,958,503




 


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 20172018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 32

            

Partners' capital deficit),
April 1, 2017


$


(1,512,826)


$


(425,749)


$


(1,938,575)

Partners' capital
(deficit)
April 1, 2018



$



47,520



$



(409,988)



$



(362,468)

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

1,570,780

 

15,866

 

1,586,646

 

384,570

 

3,885

 

388,455

            

Partners' capital deficit),
December 31, 2017


$


57,954


$


(409,883)


$


(351,929)

Partners' capital
(deficit),
December 31, 2018



$



432,090



$



(406,103)



$



25,987



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 33

            

Partners' capital deficit),
April 1, 2017


$


(687,215)


$


(235,002)


$


(922,217)

Partners' capital
(deficit)
April 1, 2018



$



(567,133)



$



(233,789)



$



(800,922)

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

22,957

 

232

 

23,189

 

(54,857)

 

(554)

 

(55,411)

            

Partners' capital deficit),
December 31, 2017


$


(664,258)


$


(234,770)


$


(899,028)

Partners' capital
(deficit),
December 31, 2018



$



(621,990)



$



(234,343)



$



(856,333)



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 34

            

Partners' capital deficit),
April 1, 2017


$


(2,048,404)


$


(324,115)


$


(2,372,519)

Partners' capital
(deficit)
April 1, 2018



$



(2,120,686)



$



(324,845)



$



(2,445,531)

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

(61,701)

 

(623)

 

(62,324)

 

(58,264)

 

(589)

 

(58,853)

            

Partners' capital deficit),
December 31, 2017


$


(2,110,105)


$


(324,738)


$


(2,434,843)

Partners' capital
(deficit),
December 31, 2018



$



(2,178,950)



$



(325,434)



$



(2,504,384)






The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 20172018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 35

            

Partners' capital deficit),
April 1, 2017


$


2,104,402


$


(263,617)


$


1,840,785

Partners' capital
(deficit)
April 1, 2018



$



4,666,048



$



(237,742)



$



4,428,306

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

2,567,955

 

25,939

 

2,593,894

 

(27,124)

 

(274)

 

(27,398)

            

Partners' capital deficit),
December 31, 2017


$


4,672,357


$


(237,678)


$


4,434,679

Partners' capital
(deficit),
December 31, 2018



$



4,638,924



$



(238,016)



$



4,400,908



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 36

            

Partners' capital deficit),
April 1, 2017


$


2,194,117


$


(158,305)


$


2,035,812

Partners' capital
(deficit)
April 1, 2018



$



2,133,963



$



(158,913)



$



1,975,050

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

(40,779)

 

(412)

 

(41,191)

 

178,749

 

1,806

 

180,555

            

Partners' capital deficit),
December 31, 2017


$


2,153,338


$


(158,717)


$

 

1,994,621

Partners' capital
(deficit),
December 31, 2018



$



2,312,712



$



(157,107)



$



2,155,605



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 37

            

Partners' capital deficit),
April 1, 2017


$


130,312


$


(216,426)


$


(86,114)

Partners' capital
(deficit)
April 1, 2018



$



220,255



$



(215,517)



$



4,738

      

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

(1,020,537)

 

-

 

(1,020,537)

            

Net income (loss)

 

103,261

 

1,043

 

104,304

 

1,005,641

 

10,158

 

1,015,799

            

Partners' capital deficit),
December 31, 2017


$


233,573


$


(215,383)


$


18,190

Partners' capital
(deficit),
December 31, 2018



$



205,359



$



(205,359)



$



-





The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 20172018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 38

            

Partners' capital deficit),
April 1, 2017


$


1,723,417


$


(203,081)


$


1,520,336

Partners' capital
(deficit)
April 1, 2018



$



1,677,456



$



(203,545)



$



1,473,911

      

Contributions

-

-

-

-

-

-

Distributions

-

-

-

-

-

-

Net income (loss)

(50,813)

(513)

(51,326)

12,533

127

12,660

      

Partners' capital deficit),
December 31, 2017


$


1,672,604


$


(203,594)


$


1,469,010

Partners' capital
(deficit),
December 31, 2018



$



1,689,989



$



(203,418)



$



1,486,571



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 39

            

Partners' capital deficit),
April 1, 2017


$


283,677


$


(195,562)


$


88,115

Partners' capital
(deficit)
April 1, 2018



$



196,043



$



(196,043)



$



-

            

Contributions

-

-

-

-

-

-

Distributions

(40,046)

-

(40,046)

-

-

-

Net income (loss)

(47,588)

(481)

(48,069)

-

-

-

            

Partners' capital deficit),
December 31, 2017


$


196,043


$


(196,043)


$


-

Partners' capital
(deficit),
December 31, 2018



$



196,043



$



(196,043)



$



-



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 40

            

Partners' capital deficit),
April 1, 2017


$


(2,186,540)


$


(249,302)


$


(2,435,842)

Partners' capital
(deficit)
April 1, 2018



$



(1,737,068)



$



(244,762)



$



(1,981,830)

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

480,728

 

4,856

 

485,584

 

(53,072)

 

(536)

 

(53,608)

            

Partners' capital deficit),
December 31, 2017


$


(1,705,812)


$


(244,446)


$


(1,950,258)

Partners' capital
(deficit),
December 31, 2018



$



(1,790,140)



$



(245,298)



$



(2,035,438)






The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 20172018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 41

            

Partners' capital deficit),
April 1, 2017


$


(2,687,899)


$


(278,836)


$


(2,966,735)

Partners' capital
(deficit)
April 1, 2018



$



(1,881,761)



$



(270,693)



$



(2,152,454)

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

610,532

 

6,167

 

616,699

 

(76,625)

 

(774)

 

(77,399)

            

Partners' capital deficit),
December 31, 2017


$


(2,077,367)


$


(272,669)


$


(2,350,036)

Partners' capital
(deficit),
December 31, 2018



$



(1,958,386)



$



(271,467)



$



(2,229,853)



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 42

            

Partners' capital deficit),
April 1, 2017


$


1,303,097


$


(230,209)


$


1,072,888

Partners' capital
(deficit)
April 1, 2018



$



1,565,620



$



(227,557)



$



1,338,063

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

133,886

 

1,352

 

135,238

 

(8,803)

 

(89)

 

(8,892)

            

Partners' capital deficit),
December 31, 2017


$


1,436,983


$


(228,857)


$


1,208,126

Partners' capital
(deficit),
December 31, 2018



$



1,556,817



$



(227,646)



$



1,329,171



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 43

            

Partners' capital deficit),
April 1, 2017


$


(111,017)


$


(325,890)


$


(436,907)

Partners' capital
(deficit)
April 1, 2018



$



235,085



$



(322,394)



$



(87,309)

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

80,188

 

810

 

80,998

 

7,943

 

80

 

8,023

            

Partners' capital deficit),
December 31, 2017


$


(30,829)


$


(325,080)


$


(355,909)

Partners' capital
(deficit),
December 31, 2018



$



243,028



$



(322,314)



$



(79,286)





The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 20172018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 44

            

Partners' capital deficit),
April 1, 2017


$


(2,255,686)


$


(262,631)


$


(2,518,317)

Partners' capital
(deficit)
April 1, 2018



$



(2,481,212)



$



(264,909)



$



(2,746,121)

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

(164,757)

 

(1,664)

 

(166,421)

 

(158,374)

 

(1,600)

 

(159,974)

            

Partners' capital deficit),
December 31, 2017


$


(2,420,443)


$


(264,295)


$


(2,684,738)

Partners' capital
(deficit),
December 31, 2018



$



(2,639,586)



$



(266,509)



$



(2,906,095)



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 45

            

Partners' capital deficit),
April 1, 2017


$


(1,712,062)


$


(374,528)


$


(2,086,590)

Partners' capital
(deficit)
April 1, 2018



$



(1,985,417)



$



(377,289)



$



(2,362,706)

            

Contributions

-

-

-

-

-

-

Distributions

-

-

-

-

-

-

Net income (loss)

(229,449)

(2,318)

(231,767)

153,152

1,547

154,699

            

Partners' capital deficit),
December 31, 2017


$


(1,941,511)


$


(376,846)


$


(2,318,357)

Partners' capital
(deficit),
December 31, 2018



$



(1,832,265)



$



(375,742)



$



(2,208,007)



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 46

            

Partners' capital deficit),
April 1, 2017


$


(956,991)


$


(275,063)


$


(1,232,054)

Partners' capital
(deficit)
April 1, 2018



$



(1,125,043)



$



(276,760)



$



(1,401,803)

            

Contributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Distributions

 

-

 

-

 

-

 

-

 

-

 

-

            

Net income (loss)

 

(128,646)

 

(1,299)

 

(129,945)

 

(142,336)

 

(1,438)

 

(143,774)

            

Partners' capital deficit),
December 31, 2017


$


(1,085,637)


$


(276,362)


$


(1,361,999)

Partners' capital
(deficit),
December 31, 2018



$



(1,267,379)



$



(278,198)



$



(1,545,577)





The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

9,020,023

$

11,174,754

$

1,304,859

$

9,020,023

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


(11,305,952)

 


(13,992,959)

Gain on Disposition
Operating Partnerships

 


(3,086,786)

 


(11,305,952)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


(46,259)

 


29,567

 


987,419

 


(46,259)

Decrease (Increase) in other
assets

 


1,285

 


-

 


-

 


1,285

(Decrease) Increase in accounts
payable affiliates

 


(6,979,847)

 


(7,429,230)

 


(4,368,397)

 


(6,979,847)

Net cash (used in) provided by
operating activities

 


(9,310,750)

 


(10,217,868)

 


(5,162,905)

 


(9,310,750)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


(19,011)

 


-

 


-

 


(19,011)

Proceeds from the disposition of Operating Partnerships

 


11,061,047

 


13,370,012

 


2,954,134

 


11,061,047

Net cash (used in) provided by
investing activities

 


11,042,036

 


13,370,012

 


2,954,134

 


11,042,036

Cash flows from financing activities:

Distributions

(420,163)

-

(1,331,500)

(420,163)

Net cash used in
financing activities


(420,163)


-


(1,331,500)


(420,163)

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


1,311,123

 


3,152,144

 


(3,540,271)

 


1,311,123

Cash and cash equivalents, beginning

 

27,209,997

 

21,728,069

 

27,208,717

 

27,209,997

Cash and cash equivalents, ending

$

28,521,120

$

24,880,213

$

23,668,446

$

28,521,120

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





1,070,891





$





-

 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




127,351




$




-

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





5,403,788





$





1,070,891

 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




127,351


The accompanying notes are an integral part of this condensed statement


Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 20

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(3,202)

$

85,419

$

128,979

$

(3,202)

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships



(42,000)

 


(138,000)

Gain on Disposition
Operating Partnerships



(197,337)

 


(42,000)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


2,000

 


3,000

 


-

 


2,000

Decrease (Increase) in other
assets



-

 


-



-

 


-

(Decrease) Increase in accounts
payable affiliates

 


16,607

 


19,308

 


(370,966)

 


16,607

Net cash (used in) provided by
operating activities

 


(26,595)

 


(30,273)

 


(439,324)

 


(26,595)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


42,000

 


138,000

 


197,337

 


42,000

Net cash (used in) provided by
investing activities

 


42,000

 


138,000

 


197,337

 


42,000

Cash flows from financing activities:

Distributions

-

-

-

-

Net cash used in
financing activities


-


-


-


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


15,405

 


107,727

 


(241,987)

 


15,405

Cash and cash equivalents, beginning

 

271,060

 

180,896

 

241,987

 

271,060

Cash and cash equivalents, ending

$

286,465

$

288,623

$

-

$

286,465

 

Supplemental schedule of noncash

investing and financing activities:

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





1,073,757





$





-

 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 21

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

9,244

$

(32,860)

$

-

$

9,244

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships



(67,000)

 


-

Gain on Disposition
Operating Partnerships



-

 


(67,000)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

 


-

 


-

Decrease (Increase) in other
assets



-

 


-



-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(250,346)

 


(141,846)

 


-

 


(250,346)

Net cash (used in) provided by
operating activities

 


(308,102)

 


(174,706)

 


-

 


(308,102)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


67,000

 


-

 


-

 


67,000

Net cash (used in) provided by
investing activities

 


67,000

 


-

 


-

 


67,000

Cash flows from financing activities:

Distributions

-

-

-

-

Net cash used in
financing activities


-


-


-


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(241,102)

 


(174,706)

 


-

 


(241,102)

Cash and cash equivalents, beginning

 

241,102

 

425,168

 

-

 

241,102

Cash and cash equivalents, ending

$

-

$

250,462

$

-

$

-

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





1,070,891





$





-

 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





1,070,891

 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 22

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(48,307)

$

(54,497)

$

(38,144)

$

(48,307)

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


-

 


-

Gain on Disposition
Operating Partnerships

 


(38,000)

 


-

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


21,909

 


21,906

 


(183,720)

 


21,909

Net cash (used in) provided by
operating activities

 


(26,398)

 


(32,591)

 


(259,864)

 


(26,398)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


-

 


-

 


38,000

 


-

Net cash (used in) provided by
investing activities

 


-

 


-

 


38,000

 


-

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(26,398)

 


(32,591)

 


(221,864)

 


(26,398)

Cash and cash equivalents, beginning

 

252,064

 

295,650

 

221,864

 

252,064

Cash and cash equivalents, ending

$

225,666

$

263,059

$

-

$

225,666

 

Supplemental schedule of noncash

investing and financing activities:

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





2,694,389





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 23

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

951,455

$

(59,607)

$

(27,002)

$

951,455

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships


(989,962)


(3,550)

Gain on Disposition
Operating Partnerships


(43,500)


(989,962)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(471,882)

 


28,092

 


(419,134)

 


(471,882)

Net cash (used in) provided by
operating activities

 


(510,389)

 


(35,065)

 


(489,636)

 


(510,389)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


989,962

 


3,550

 


43,500

 


989,962

Net cash (used in) provided by
investing activities

 


989,962

 


3,550

 


43,500

 


989,962

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


479,573

 

 

(31,515)

 


(446,136)

 


479,573

Cash and cash equivalents, beginning

 

659,167

 

219,677

 

446,136

 

659,167

Cash and cash equivalents, ending

$

1,138,740

$

188,162

$

-

$

1,138,740

 

Supplemental schedule of noncash

investing and financing activities:

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





514,253





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 24

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(62,114)

$

(59,447)

$

(33,882)

$

(62,114)

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


-

 


-

Gain on Disposition
Operating Partnerships

 


(23,678)

 


-

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

 


(2,000)

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


-

 


-

 


-

 


-

Net cash (used in) provided by
operating activities



(62,114)

 


(59,447)



(59,560)

 


(62,114)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


-

 


-

 


23,678

 


-

Net cash (used in) provided by
investing activities

 


-

 


-

 


23,678

 


-

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(62,114)

 


(59,447)

 


(35,882)

 


(62,114)

Cash and cash equivalents, beginning

 

427,181

 

502,552

 

453,512

 

427,181

Cash and cash equivalents, ending

$

365,067

$

443,105

$

417,630

$

365,067

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 25

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

34,406

$

(33,866)

$

-

$

34,406

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


(97,399)

 


-

Gain on Disposition
Operating Partnerships

 


-

 


(97,399)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

 


-

 


-

Decrease (Increase) in other
assets

 


1,250

 


-

 


-

 


1,250

(Decrease) Increase in accounts
payable affiliates

 


-

 


-

 


-

 


-

Net cash (used in) provided by
operating activities

 


(61,743)

 


(33,866)

 


-

 


(61,743)

Cash flows from investing activities:

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


97,399

 


-

 


-

 


97,399

Net cash (used in) provided by
investing activities

 


97,399

 


-

 


-

 


97,399

Cash flows from financing activities:

        

Distributions

 

(380,117)

 

-

 

-

 

(380,117)

Net cash used in
financing activities

 


(380,117)

 


-

 


-

 


(380,117)

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(344,461)

 


(33,866)

 


-

 


(344,461)

Cash and cash equivalents, beginning

 

344,461

 

395,797

 

-

 

344,461

Cash and cash equivalents, ending

$

-

$

361,931

$

-

$

-

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 26

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(14,748)

$

(89,163)

$

(69,952)

$

(14,748)

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

    

Share of (income) from
Operating Partnerships

 


(80,000)

 


(18,500)

Gain on Disposition
Operating Partnerships

 


(10,500)

 


(80,000)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


(960)

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


-

 


-

 


-

 


-

Net cash (used in) provided by
operating activities


(94,748)


(108,623)


(80,452)


(94,748)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


80,000

 


18,500

 


10,500

 


80,000

Net cash (used in) provided by
investing activities

 


80,000

 


18,500

 


10,500

 


80,000

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(14,748)

 


(90,123)

 


(69,952)

 


(14,748)

Cash and cash equivalents, beginning

 

677,679

 

809,362

 

642,258

 

677,679

Cash and cash equivalents, ending

$

662,931

$

719,239

$

572,306

$

662,931

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 27

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

3,213,442

$

2,833,826

$

3,811

$

3,213,442

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


(3,291,567)

 


(3,016,000)

Gain on Disposition
Operating Partnerships

 


-

 


(3,291,567)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


(31,673)

 


4,000

 


-

 


(31,673)

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


-

 


-

 


-

 


-

Net cash (used in) provided by
operating activities

 


(109,798)

 


(178,174)

 


3,811

 


(109,798)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


3,291,567

 


3,016,000

 


-

 


3,291,567

Net cash (used in) provided by
investing activities

 


3,291,567

 


3,016,000

 


-

 


3,291,567

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

(310,963)

 

-

Net cash used in
financing activities

 


-

 


-

 


(310,963)

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


3,181,769

 


2,837,826

 


(307,152)

 


3,181,769

Cash and cash equivalents, beginning

 

3,606,473

 

899,636

 

6,799,933

 

3,606,473

Cash and cash equivalents, ending

$

6,788,242

$

3,737,462

$

6,492,781

$

6,788,242

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 28

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(56,401)

$

(42,087)

$

(41,125)

$

(56,401)

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


-

 


(5,000)

Gain on Disposition
Operating Partnerships

 


(8,500)

 


-

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


(7,500)

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


-

 


-

 


-

 


-

Net cash (used in) provided by
operating activities

 


(56,401)

 


(54,587)

 


(49,625)

 


(56,401)

Cash flows from investing activities:

  ��     

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


-

 


5,000

 


8,500

 


-

Net cash (used in) provided by
investing activities

 


-

 


5,000

 


8,500

 


-

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(56,401)

 


(49,587)

 


(41,125)

 


(56,401)

Cash and cash equivalents, beginning

 

812,483

 

884,427

 

742,564

 

812,483

Cash and cash equivalents, ending

$

756,082

$

834,840

$

701,439

$

756,082

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 29

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(92,645)

$

(138,179)

$

64,364

$

(92,645)

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


-

 


-

Gain on Disposition
Operating Partnerships

 


(123,094)

 


-

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


61,640

 


(91,860)

 


(489,986)

 


61,640

Net cash (used in) provided by
operating activities

 


(31,005)

 


(230,039)

 


(548,716)

 


(31,005)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


-

 


-

 


122,994

 


-

Net cash (used in) provided by
investing activities

 


-

 


-

 


122,994

 


-

Cash flows from financing activities:

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(31,005)

 


(230,039)

 


(425,722)

 


(31,005)

Cash and cash equivalents, beginning

 

345,648

 

618,758

 

622,414

 

345,648

Cash and cash equivalents, ending

$

314,643

$

388,719

$

196,692

$

314,643

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 30

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

Net income (loss)

$

247,358

$

(76,092)

$

114,811

$

247,358

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships


(265,984)


-

Gain on Disposition
Operating Partnerships


(195,182)


(265,984)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

 


(3,500)

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


41,872

 


52,263

 


(499,568)

 


41,872

Net cash (used in) provided by
operating activities

 


23,246

 


(23,829)

 


(583,439)

 


23,246

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


226,021

 


-

 


130,006

 


226,021

Net cash (used in) provided by
investing activities

 


226,021

 


-

 


130,006

 


226,021

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


249,267

 


(23,829)

 


(453,433)

 


249,267

Cash and cash equivalents, beginning

 

270,126

 

304,293

 

453,433

 

270,126

Cash and cash equivalents, ending

$

519,393

$

280,464

$

-

$

519,393

 

Supplemental schedule of noncash

investing and financing activities:

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





1,121,389





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 31

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(53,974)

$

640,931

$

28,117

$

(53,974)

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


(45,000)

 


(791,947)

Gain on Disposition
Operating Partnerships

 


(105,794)

 


(45,000)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


(3,000)

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


-

 


-

 


-

 


-

Net cash (used in) provided by
operating activities

 


(98,974)

 


(154,016)

 


(77,677)

 


(98,974)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


45,000

 


169,000

 


64,500

 


45,000

Net cash provided by
investing activities

 


45,000

 


169,000

 


64,500

 


45,000

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(53,974)

 


14,984

 


(13,177)

 


(53,974)

Cash and cash equivalents, beginning

 

2,047,648

 

1,351,761

 

1,971,680

 

2,047,648

Cash and cash equivalents, ending

$

1,993,674

$

1,366,745

$

1,958,503

$

1,993,674

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 32

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

1,586,646

$

(105,524)

$

388,455

$

1,586,646

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


(1,677,252)

 


(48,900)

Gain on Disposition
Operating Partnerships

 


(487,880)

 


(1,677,252)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


(2,000)

 


(4,500)

 


-

 


(2,000)

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(1,108,083)

 


(627,550)

 


(726,205)

 


(1,108,083)

Net cash (used in) provided by
operating activities

 


(1,200,689)

 


(786,474)

 


(825,630)

 


(1,200,689)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


1,677,252

 


48,900

 


487,880

 


1,677,252

Net cash provided by
investing activities

 


1,677,252

 


48,900

 


487,880

 


1,677,252

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


476,563

 


(737,574)

 


(337,750)

 


476,563

Cash and cash equivalents, beginning

 

837,185

 

1,061,685

 

563,697

 

837,185

Cash and cash equivalents, ending

$

1,313,748

$

324,111

$

225,947

$

1,313,748

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 33

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

23,189

$

(69,176)

$

(55,411)

$

23,189

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


(67,454)

 


-

Gain on Disposition
Operating Partnerships

 


-

 


(67,454)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


48,449

 


(850,806)

 


(166,986)

 


48,449

Net cash (used in) provided by
operating activities

 


4,184

 


(919,982)

 


(222,397)

 


4,184

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


950

 


-

 


-

 


950

Net cash (used in) provided by
investing activities

 


950

 


-

 


-

 


950

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


5,134

 


(919,982)

 


(222,397)

 


5,134

Cash and cash equivalents, beginning

 

337,765

 

1,266,455

 

452,033

 

337,765

Cash and cash equivalents, ending

$

342,899

$

346,473

$

229,636

$

342,899

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 34

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(62,324)

$

578,600

$

(58,853)

$

(62,324)

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


-

 


(630,691)

Gain on Disposition
Operating Partnerships

 


-

 


-

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


4,230

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(393,594)

 


(366,202)

 


(112,903)

 


(393,594)

Net cash (used in) provided by
operating activities

 


(455,918)

 


(414,063)

 


(171,756)

 


(455,918)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


-

 


630,691

 


-

 


-

Net cash (used in) provided by
investing activities

 


-

 


630,691

 


-

 


-

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(455,918)

 


216,628

 


(171,756)

 


(455,918)

Cash and cash equivalents, beginning

 

849,078

 

674,173

 

394,837

 

849,078

Cash and cash equivalents, ending

$

393,160

$

890,801

$

223,081

$

393,160

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 35

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

2,593,894

$

2,484,350

$

(27,398)

$

2,593,894

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


(2,653,528)

 


(2,543,187)

Gain on Disposition
Operating Partnerships

 


-

 


(2,653,528)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


1,770

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(551,982)

 


(1,386,580)

 


-

 


(551,982)

Net cash (used in) provided by
operating activities

 


(611,616)

 


(1,443,647)

 


(27,398)

 


(611,616)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 

 


2,653,528

 


2,543,187

 

 


-

 


2,653,528

Net cash (used in) provided by
investing activities

 


2,653,528

 


2,543,187

 


-

 


2,653,528

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


2,041,912

 


1,099,540

 


(27,398)

 


2,041,912

Cash and cash equivalents, beginning

 

2,392,767

 

1,693,223

 

4,428,306

 

2,392,767

Cash and cash equivalents, ending

$

4,434,679

$

2,792,763

$

4,400,908

$

4,434,679

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 36

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(41,191)

$

2,485,479

$

180,555

$

(41,191)

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


-

 


(2,503,252)

Gain on Disposition
Operating Partnerships

 


(253,104)

 


-

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


(2,500)

 


570,319

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(767,505)

 


(532,657)

 


-

 


(767,505)

Net cash (used in) provided by
operating activities

 


(808,696)

 


(552,930)

 

497,770

 


(808,696)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


-

 


2,503,252

 


253,104

 


-

Net cash (used in) provided by
investing activities

 


-

 


2,503,252

 


253,104

 


-

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(808,696)

 


1,950,322

 


750,874

 


(808,696)

Cash and cash equivalents, beginning

 

2,934,317

 

979,340

 

2,106,050

 

2,934,317

Cash and cash equivalents, ending

$

2,125,621

$

2,929,662

$

2,856,924

$

2,125,621

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 37

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

104,304

$

1,823,054

$

1,015,799

$

104,304

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


(140,415)

 


(1,934,639)

Gain on Disposition
Operating Partnerships

 


(1,062,375)

 


(140,415)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(1,538,773)

 


100,179

 


(513,149)

 


(1,538,773)

Net cash (used in) provided by
operating activities

 


(1,574,884)

 


(11,406)

 


(559,725)

 


(1,574,884)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


1,977

 


1,934,639

 


1,062,375

 


1,977

Net cash (used in) provided by
investing activities

 


1,977

 


1,934,639

 


1,062,375

 


1,977

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

(1,020,537)

 

-

Net cash used in
financing activities

 


-

 


-

 


(1,020,537)

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(1,572,907)

 


1,923,233

 


(517,887)

 


(1,572,907)

Cash and cash equivalents, beginning

 

2,096,039

 

340,689

 

517,887

 

2,096,039

Cash and cash equivalents, ending

$

523,132

$

2,263,922

$

-

$

523,132

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 38

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(51,326)

$

1,739,974

$

12,660

$

(51,326)

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


-

 


(1,795,010)

Gain on Disposition
Operating Partnerships

 


(7,000)

 


-

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


(6,543)

 


(4,779)

 


-

 


(6,543)

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(1,515,985)

 


76,230

 


(18,234)

 


(1,515,985)

Net cash (used in) provided by
operating activities

 


(1,573,854)

 


16,415

 


(12,574)

 


(1,573,854)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


-

 


1,795,010

 


7,000

 


-

Net cash (used in) provided by
investing activities

 


-

 


1,795,010

 


7,000

 


-

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(1,573,854)

 


1,811,425

 


(5,574)

 


(1,573,854)

Cash and cash equivalents, beginning

 

3,042,864

 

333,474

 

1,492,145

 

3,042,864

Cash and cash equivalents, ending

$

1,469,010

$

2,144,899

$

1,486,571

$

1,469,010

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-

 

The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 39

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(48,069)

$

44,940

$

-

$

(48,069)

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


(17,779)

 


(122,100)

Gain on Disposition
Operating Partnerships

 


-

 


(17,779)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


(6,543)

 


(4,894)

 


-

 


(6,543)

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(1,154,240)

 


(51,654)

 


-

 


(1,154,240)

Net cash (used in) provided by
operating activities

 


(1,226,631)

 


(133,708)

 


-

 


(1,226,631)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


17,779

 


122,100

 


-

 


17,779

Net cash (used in) provided by
investing activities

 


17,779

 


122,100

 


-

 


17,779

Cash flows from financing activities:

        

Distributions

 

(40,046)

 

-

 

-

 

(40,046)

Net cash used in
financing activities

 


(40,046)

 


-

 


-

 


(40,046)

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(1,248,898)

 


(11,608)

 


-

 


(1,248,898)

Cash and cash equivalents, beginning

 

1,248,898

 

313,691

 

-

 

1,248,898

Cash and cash equivalents, ending

$

-

$

302,083

$

-

$

-

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 40

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

485,584

$

(85,804)

$

(53,608)

$

485,584

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

Share of (income) from
Operating Partnerships

 


(588,952)

 


(49,000)

Gain on Disposition
Operating Partnerships

 


(44,500)

 


(588,952)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


42,200

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(8,631)

 


(180,817)

 


(148,422)

 


(8,631)

Net cash (used in) provided by
operating activities

 


(111,999)

 


(273,421)

 


(246,530)

 


(111,999)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


588,952

 


49,000

 


44,500

 


588,952

-

-

-

-

Net cash (used in) provided by
investing activities

 


588,952

 


49,000

 


44,500

 


588,952

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


476,953

 


(224,421)

 


(202,030)

 


476,953

Cash and cash equivalents, beginning

 

248,318

 

510,705

 

431,341

 

248,318

Cash and cash equivalents, ending

$

725,271

$

286,284

$

229,311

$

725,271

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 41

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

616,699

$

(195,268)

$

(77,399)

$

616,699

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


(782,887)

 


-

Gain on Disposition
Operating Partnerships

 


(14,000)

 


(782,887)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


(2,500)

 


-

 


-

 


(2,500)

Decrease (Increase) in other
assets

 


1,218

 


-

 


-

 


1,218

(Decrease) Increase in accounts
payable affiliates

 


84,650

 


68,444

 


(414,074)

 


84,650

Net cash (used in) provided by
operating activities

 


(82,820)

 


(126,824)

 


(505,473)

 


(82,820)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


782,887

 


-

 


14,000

 


782,887

Net cash (used in) provided by
investing activities

 


782,887

 


-

 


14,000

 


782,887

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


700,067

 


(126,824)

 


(491,473)

 


700,067

Cash and cash equivalents, beginning

 

322,902

 

331,029

 

741,152

 

322,902

Cash and cash equivalents, ending

$

1,022,969

$

204,205

$

249,679

$

1,022,969

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 42

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

135,238

$

(160,623)

$

(8,892)

$

135,238

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


(262,279)

 


-

Gain on Disposition
Operating Partnerships

 


(54,322)

 


(262,279)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


1,000

 


-

 


1,500

 


1,000

Decrease (Increase) in other
assets

 


(1,183)

 


-

 


-

 


(1,183)

(Decrease) Increase in accounts
payable affiliates

 


-

 


(2,141,040)

 


-

 


-

Net cash (used in) provided by
operating activities

 


(127,224)

 


(2,301,663)

 


(61,714)

 


(127,224)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


(9,503)

 


-

 


-

 


(9,503)

Proceeds from the disposition of Operating Partnerships

 


262,279

 


-

 


54,322

 


262,279

Net cash (used in) provided by
investing activities

 


252,776

 


-

 


54,322

 


252,776

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


125,552

 


(2,301,663)

 


(7,392)

 


125,552

Cash and cash equivalents, beginning

 

1,072,528

 

3,412,757

 

1,327,017

 

1,072,528

Cash and cash equivalents, ending

$

1,198,080

$

1,111,094

$

1,319,625

$

1,198,080

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




63,676




$




-

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




63,676


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 43

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

80,998

$

(178,758)

$

8,023

$

80,998

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


(225,500)

 


-

Gain on Disposition
Operating Partnerships

 


(75,520)

 


(225,500)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

 


363,500

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


170,998

 


(2,029,791)

 


(430,490)

 


170,998

Net cash (used in) provided by
operating activities

 


26,496

 


(2,208,549)

 


(134,487)

 


26,496

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


(9,508)

 


-

 


-

 


(9,508)

Proceeds from the disposition of Operating Partnerships

 


225,500

 


-

 


49,438

 


225,500

Net cash (used in) provided by
investing activities

 


215,992

 


-

 


49,438

 


215,992

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


242,488

 


(2,208,549)

 


(85,049)

 


242,488

Cash and cash equivalents, beginning

 

351,638

 

2,886,991

 

854,364

 

351,638

Cash and cash equivalents, ending

$

594,126

$

678,442

$

769,315

$

594,126

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




63,675




$




-

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




63,675


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 44

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(166,421)

$

(195,483)

$

(159,974)

$

(166,421)

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


-

 


-

Gain on Disposition
Operating Partnerships

 


-

 


-

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


184,956

 


192,398

 


185,889

 


184,956

Net cash (used in) provided by
operating activities

 


18,535

 


(3,085)

 


25,915

 


18,535

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


-

 


-

 


-

 


-

Net cash (used in) provided by
investing activities

 


-

 


-

 


-

 


-

Cash flows from financing activities:

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


18,535

 


(3,085)

 


25,915

 


18,535

Cash and cash equivalents, beginning

 

66,324

 

44,503

 

84,006

 

66,324

Cash and cash equivalents, ending

$

84,859

$

41,418

$

109,921

$

84,859

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)


Series 45

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(231,767)

$

(188,266)

$

154,699

$

(231,767)

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


-

 


-

Gain on Disposition
Operating Partnerships

 


(342,500)

 


-

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


2,500

 


57,600

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


156,418

 


228,968

 


(37,346)

 


156,418

Net cash (used in) provided by
operating activities

 


(75,349)

 


43,202

 


(167,547)

 


(75,349)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


-

 


-

 


342,500

 


-

Net cash (used in) provided by
investing activities

 


-

 


-

 


342,500

 


-

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(75,349)

 


43,202

 


174,953

 


(75,349)

Cash and cash equivalents, beginning

 

803,153

 

748,100

 

753,702

 

803,153

Cash and cash equivalents, ending

$

727,804

$

791,302

$

928,655

$

727,804

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)


Series 46

 

 

2017

 

2016

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(129,945)

$

222,881

$

(143,774)

$

(129,945)

Adjustments to reconcile net income
(loss) to net cash (used in) provided by operating activities

        

Share of (income) from
Operating Partnerships

 


(10,994)

 


(393,183)

Gain on Disposition
Operating Partnerships

 


-

 


(10,994)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 

 


-

 


-

 

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(6,325)

 


183,785

 


(23,103)

 


(6,325)

Net cash (used in) provided by
operating activities

 


(147,264)

 


13,483

 


(166,877)

 


(147,264)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


10,994

 


393,183

 


-

 


10,994

Net cash (used in) provided by
investing activities

 


10,994

 


393,183

 


-

 


10,994

Cash flows from financing activities:

        

Distributions

 

-

 

-

 

-

 

-

Net cash used in
financing activities

 


-

 


-

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(136,270)

 


406,666

 


(166,877)

 


(136,270)

Cash and cash equivalents, beginning

 

651,129

 

243,277

 

466,399

 

651,129

Cash and cash equivalents, ending

$

514,859

$

649,943

$

299,522

$

514,859

 

Supplemental schedule of noncash

investing and financing activities:

 

The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.





$





-





$





-

      
 

The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.




$




-




$




-


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS
December 31, 20172018
(Unaudited)

NOTE A - ORGANIZATION

Boston Capital Tax Credit Fund IV L.P. (the "Fund") was organized under the laws of the State of Delaware as of October 5, 1993, for the purpose of acquiring, holding, and disposing of limited partnership interests in operating partnerships which will acquire, develop, rehabilitate, operate and own newly constructed, existing or rehabilitated low-income apartment complexes ("Operating Partnerships"). Effective as of June 1, 2001 there was a restructuring and, as a result, the Fund's general partner was reorganized as follows. The general partner of the Fund continues to be Boston Capital Associates IV L.P., a Delaware limited partnership. The general partner of the general partner of the Fund is BCA Associates Limited Partnership, a Massachusetts limited partnership, whose sole general partner is C&M Management, Inc., a Massachusetts corporation and whose limited partners are Herbert F. Collins and John P. Manning. Mr. Manning is the principal of Boston Capital Partners, Inc. The limited partner of the general partner of the Fund is Capital Investment Holdings, a general partnership whose partners are various officers and employees of Boston Capital Partners, Inc. and its affiliates. The assignor limited partner is BCTC IV Assignor Corp., a Delaware corporation which is now wholly-owned by John P. Manning.

Pursuant to the Securities Act of 1933, the Fund filed a Form S-11 Registration Statement with the Securities and Exchange Commission, effective December 16, 1993, which covered the offering (the "Public Offering") of the Fund's beneficial assignee certificates ("BACs") representing assignments of units of the beneficial interest of the limited partnership interest of the assignor limited partner. The Fund registered 30,000,000 BACs at $10 per BAC for sale to the public in one or more series. On April 18, 1996, an amendment to Form S-11 which registered an additional 10,000,000 BACs for sale to the public in one or more series became effective. On April 2, 1998, an amendment to Form S-11, which registered an additional 25,000,000 BACs for sale to the public in one or more series, became effective. On August 31, 1999, an amendment to Form S-11, which registered an additional 8,000,000 BACs for sale to the public in one or more series, became effective. On July 26, 2000, an amendment to Form S-11, which registered an additional 7,500,000 BACs for sale to the public in one or more series, became effective. On July 24, 2001, an amendment to Form S-11, which registered an additional 7,000,000 BACs for sale to the public in one or more series, became effective. On July 24, 2002, an amendment to Form S-11, which registered an additional 7,000,000 BACs for sale to the public, became effective. On July 1, 2003, an amendment to Form S-11, which registered an additional 7,000,000 BACs for sale to the public, became effective.

 

Below is a summary of the BACs sold and total equity raised, by series, as of the date of this filing:

Series

Closing Date

BACs Sold

Equity Raised

Series 20

June 24, 1994

3,866,700

$38,667,000

Series 21

December 31, 1994

1,892,700

$18,927,000

Series 22

December 28, 1994

2,564,400

$25,644,000

Series 23

June 23, 1995

3,336,727

$33,366,000

Series 24

September 22, 1995

2,169,878

$21,697,000

Series 25

December 29, 1995

3,026,109

$30,248,000

Series 26

June 25, 1996

3,995,900

$39,959,000

Series 27

September 17, 1996

2,460,700

$24,607,000

Series 28

January 29, 1997

4,000,738

$39,999,000

 

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

NOTE A - ORGANIZATION (continued)

Series

Closing Date

BACs Sold

Equity Raised

Series 29

June 10, 1997

3,991,800

$39,918,000

Series 30

September 10, 1997

2,651,000

$26,490,750

Series 31

January 18, 1998

4,417,857

$44,057,750

Series 32

June 23, 1998

4,754,198

$47,431,000

Series 33

September 21, 1998

2,636,533

$26,362,000

Series 34

February 11, 1999

3,529,319

$35,273,000

Series 35

June 28, 1999

3,300,463

$33,004,630

Series 36

September 28, 1999

2,106,838

$21,068,375

Series 37

January 28, 2000

2,512,500

$25,125,000

Series 38

July 31, 2000

2,543,100

$25,431,000

Series 39

January 31, 2001

2,292,151

$22,921,000

Series 40

July 31, 2001

2,630,256

$26,269,256

Series 41

January 31, 2002

2,891,626

$28,916,260

Series 42

July 31, 2002

2,744,262

$27,442,620

Series 43

December 31, 2002

3,637,987

$36,379,870

Series 44

April 30, 2003

2,701,973

$27,019,730

Series 45

September 16, 2003

4,014,367

$40,143,670

Series 46

December 19, 2003

2,980,998

$29,809,980

 

The Fund concluded its public offering of BACs in the Fund on December 19, 2003.

NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES

The condensed financial statements herein as of December 31, 20172018 and for the three and nine months then ended have been prepared by the Fund, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. The Fund accounts for its investments in Operating Partnerships using the equity method, whereby the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. Costs incurred by the Fund in acquiring the investments in the Operating Partnerships are capitalized to the investment account.

The Fund's accounting and financial reporting policies are in conformity with generally accepted accounting principles and include adjustments in interim periods considered necessary for a fair presentation of the results of operations. Such adjustments are of a normal recurring nature. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to these rules and regulations. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Fund's Annual Report on Form 10-K for the fiscal year ended March 31, 2017.2018.

 

 

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

NOTE C - RELATED PARTY TRANSACTIONS

The Fund has entered into several transactions with various affiliates of the general partner of the Fund, including Boston Capital Holdings Limited Partnership, Boston Capital Securities, Inc., and Boston Capital Asset Management Limited Partnership as follows:

An annual fund management fee of .5 percent of the aggregate cost of all apartment complexes owned by the Operating Partnerships has been accrued to Boston Capital Asset Management Limited Partnership. Since reporting fees collected by the various series were added to reserves and not paid to Boston Capital Asset Management Limited Partnership, the amounts accrued are not net of reporting fees received. The fund management fees accrued for the quarters ended December 31, 20172018 and 2016,2017, are as follows:

 

2017

2016

2018

2017

Series 20

$  5,536

$   5,535

$  2,549

$  5,536

Series 21

2,216

2,718

-

2,216

Series 22

7,303

7,302

6,426

7,303

Series 23

5,556

9,270

5,556

5,556

Series 24

12,588

12,588

10,761

12,588

Series 25

-

5,934

-

-

Series 26

15,609

22,545

13,938

15,609

Series 27

8,915

25,794

7,635

8,915

Series 28

8,844

8,844

7,296

8,844

Series 29

20,547

20,547

7,261

20,547

Series 30

12,609

17,421

5,668

12,609

Series 31

19,092

37,521

16,065

19,092

Series 32

23,234

43,080

19,794

23,234

Series 33

15,654

16,398

13,318

15,654

Series 34

12,365

16,707

12,365

12,365

Series 35

10,653

22,065

10,653

10,653

Series 36

7,626

7,626

5,172

7,626

Series 37

10,957

26,424

-

10,957

Series 38

18,234

34,779

16,581

18,234

Series 39

1,712

13,623

-

1,712

Series 40

26,594

33,579

23,390

26,594

Series 41

49,564

56,148

34,076

49,564

Series 42

40,788

42,870

23,847

40,788

Series 43

55,612

57,693

45,090

55,612

Series 44

57,825

57,825

57,826

57,825

Series 45

70,359

70,800

67,565

70,359

Series 46

 52,299

 59,021

 52,299

 52,299

$572,291

$734,657

$465,131

$572,291

    

 

 

 

 

 

 

 

 

 

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

NOTE C - RELATED PARTY TRANSACTIONS (continued)

The fund management fees paid for the nine months ended December 31, 20172018 and 20162017 are as follows:

2017

2016

2018

2017

Series 20

    $  378,835

    $        -

Series 21

    $  258,000

$  150,000

    -

      258,000

Series 22

202,998

-

Series 23

488,550

-

      435,802

488,550

Series 24

37,764

32,283

37,764

Series 25

11,374

17,802

-

11,374

Series 26

60,699

70,531

43,485

60,699

Series 27

33,438

90,648

22,905

33,438

Series 28

26,532

35,835

23,436

26,532

Series 29

-

153,500

519,601

-

Series 30

523,527

-

Series 31

62,490

112,563

51,692

62,490

Series 32

1,184,057

756,790

787,880

1,184,057

Series 33

-

900,000

206,940

-

Series 34

430,691

291,000

150,000

430,691

Series 35

597,597

1,460,603

31,959

597,597

Series 36

790,383

571,611

18,788

790,383

Series 37

1,574,732

-

526,729

1,574,732

Series 38

1,570,687

32,421

69,630

1,570,687

Series 39

938,915

102,774

-

938,915

Series 40

93,700

287,722

225,000

93,700

Series 41

70,500

100,000

520,930

70,500

Series 42

126,528

2,269,650

80,686

126,528

Series 43

-

 2,202,870

566,306

-

Series 45

242,500

-

Series 46

  163,222

        -

  180,000

  163,222

$8,519,859

$9,644,084

$5,841,912

$8,519,859




























Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS

At December 31, 20172018 and 2016,2017, the Fund has limited partnership interests in 179132 and 219179 Operating Partnerships, respectively, which own or are constructing apartment complexes.

The breakdown of Operating Partnerships within the Fund at December 31, 20172018 and 20162017 are as follows:

 

2017

2016

Series 20

2

3

Series 21

-

2

Series 22

3

3

Series 23

3

5

Series 24

6

6

Series 25

-

4

Series 26

9

13

Series 27

3

5

Series 28

5

5

Series 29

8

8

Series 30

6

8

Series 31

8

10

Series 32

6

8

Series 33

4

5

Series 34

4

4

Series 35

2

4

Series 36

3

3

Series 37

1

3

Series 38

4

6

Series 39

-

3

Series 40

9

11

Series 41

14

18

Series 42

13

15

Series 43

18

19

Series 44

7

7

Series 45

27

27

Series 46

 14

 14

 

179

219


















Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS - (continued)

 

2018

2017

Series 20

-

2

Series 21

-

-

Series 22

-

3

Series 23

-

3

Series 24

4

6

Series 25

-

-

Series 26

8

9

Series 27

3

3

Series 28

4

5

Series 29

5

8

Series 30

-

6

Series 31

1

8

Series 32

5

6

Series 33

3

4

Series 34

4

4

Series 35

2

2

Series 36

2

3

Series 37

-

1

Series 38

3

4

Series 39

-

-

Series 40

8

9

Series 41

11

14

Series 42

9

13

Series 43

14

18

Series 44

7

7

Series 45

25

27

Series 46

 14

 14

 

132

179

 

Under the terms of the Fund's investment in each Operating Partnership, the Fund is required to make capital contributions to the Operating Partnerships. These contributions are payable in installments over several years upon each Operating Partnership achieving specified levels of construction and/or operations. The contributions payable at December 31, 20172018 and 2016,2017, are as follows:

2017

2016

Series 29

$  8,235

$  8,235

Series 30

65,176

105,139

Series 31

66,294

66,294

Series 32

1,229

1,229

Series 33

2,650

69,154

Series 37

-

138,438

Series 40

102

102

Series 41

100

100

Series 42

254

73,433

Series 43

26,082

99,265

Series 45

 16,724

 16,724

 

$186,846

$578,113



































2018

2017

Series 29

$    785

$  8,235

Series 30

-

65,176

Series 31

25,000

66,294

Series 32

1,229

1,229

Series 33

-

2,650

Series 40

102

102

Series 41

-

100

Series 42

254

254

Series 43

-

26,082

Series 45

 16,724

 16,724

 

$44,094

$186,846

 

 

  

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

NOTE D - INVESTMENTSINVESTMENT IN OPERATING PARTNERSHIPS - (continued)

During the nine months ended December 31, 2018 the Fund disposed of thirty-seven Operating Partnerships. A summary of the dispositions by Series for December 31, 2018 is as follows:

 

Operating Partnership Interest Transferred

 

Sale of Underlying Operating Partnership

 

Fund Proceeds from Disposition *

 

Gain on Disposition

Series 20

2

-

$

197,337

$

197,337

Series 22

3

 

-

  

38,000

  

38,000

Series 23

3

 

-

  

43,500

  

43,500

Series 24

1

 

-

  

23,678

  

23,678

Series 26

1

 

-

  

10,500

  

10,500

Series 28

1

 

-

  

8,500

  

8,500

Series 29

2

 

-

  

122,994

  

123,094

Series 30

5

 

-

  

130,006

  

195,182

Series 31

7

 

-

  

64,500

  

105,794

Series 32

-

 

1

  

487,880

  

487,880

Series 36

-

 

1

  

253,104

  

253,104

Series 37

-

 

1

  

1,062,375

  

1,062,375

Series 38

1

 

-

  

7,000

  

7,000

Series 40

1

 

-

  

44,500

  

44,500

Series 41

-

 

1

  

14,000

  

14,000

Series 42

2

 

-

  

54,322

  

54,322

Series 43

3

 

-

  

49,438

  

75,520

Series 45

1

 

-

  

342,500

  

342,500

Total

33

 

4

 

$

2,954,134

 

$

3,086,786

* Fund proceeds from disposition does not include $100, $65,176, $41,294 and $26,082, which was due to a writeoff of capital contribution payable as of December 31, 2018, for Series 29, Series 30, Series 31 and Series 43, respectively.

The gain described above is for financial statement purposes only. There are significant differences between the equity method of accounting and the tax reporting of income and losses from Operating Partnership investments. The largest difference is the ability, for tax purposes, to deduct losses in excess of the Fund's investment in the Operating Partnership. As a result, the amount of gain recognized for tax purposes may be significantly higher than the gain recorded in the financial statements.




Boston Capital Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2018
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

 

During the nine months ended December 31, 2017 the Fund disposed of thirty Operating Partnerships. A summary of the dispositions by Series for December 31, 2017 is as follows:

 

 

Operating Partnership Interest Transferred

 

Sale of Underlying Operating Partnership

 

Fund Proceeds from Disposition *

 

Gain on Disposition

Series 20

1

-

$

42,000

$

42,000

Series 21

2

-

67,000

67,000

Series 23

-

1

989,962

989,962

Series 25

4

 

-

  

97,399

  

97,399

Series 26

4

 

-

  

80,000

  

80,000

Series 27

1

 

1

  

3,291,567

  

3,291,567

Series 30

1

 

1

  

226,021

  

265,984

Series 31

2

 

-

  

45,000

  

45,000

Series 32

-

 

1

  

1,677,252

  

1,677,252

Series 33

1

 

-

  

950

  

67,454

Series 35

1

 

-

  

2,653,528

  

2,653,528

Series 37

1

 

-

  

1,977

  

140,415

Series 39

1

 

-

  

17,779

  

17,779

Series 40

1

 

-

  

588,952

  

588,952

Series 41

3

 

-

  

782,887

  

782,887

Series 42

2

 

-

  

262,279

  

262,279

Series 43

1

 

-

  

225,500

  

225,500

Series 46

-

 

-

  

10,994

  

10,994

Total

26

 

4

 

$

11,061,047

 

$

11,305,952

 

* Fund proceeds from disposition does not include $39,963, $66,504 and $138,438 which was due to a writeoff of capital contribution payable as of December 31, 2017, for Series 30, Series 33 and Series 37, respectively.

 

The gain described above is for financial statement purposes only. There are significant differences between the equity method of accounting and the tax reporting of income and losses from Operating Partnership investments. The largest difference is the ability, for tax purposes, to deduct losses in excess of the Fund's investment in the Operating Partnership. As a result, the amount of gain recognized for tax purposes may be significantly higher than the gain recorded in the financial statements.






 

 






Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

During the nine months ended December 31, 2016 the Fund disposed of thirty-nine Operating Partnerships. A summary of the dispositions by Series for December 31, 2016 is as follows:

 

Operating Partnership Interest Transferred

 

Sale of Underlying Operating Partnership

 

Fund Proceeds from Disposition *

 

Gain on Disposition

Series 20

-

1

$

138,000

$

138,000

Series 23

1

 

-

  

3,550

  

3,550

Series 26

1

 

-

  

18,500

  

18,500

Series 27

1

 

1

  

3,016,000

  

3,016,000

Series 28

1

 

-

  

5,000

  

5,000

Series 31

7

 

-

  

169,000

  

791,947

Series 32

2

 

-

  

48,900

  

48,900

Series 34

3

 

-

  

630,691

  

630,691

Series 35

1

 

1

  

2,543,187

  

2,543,187

Series 36

3

 

1

  

2,503,252

  

2,503,252

Series 37

3

 

-

  

1,934,639

  

1,934,639

Series 38

1

 

1

  

1,795,010

  

1,795,010

Series 39

4

 

-

  

122,100

  

122,100

Series 40

3

 

-

  

49,000

  

49,000

Series 44

-

 

1

  

-

  

-

Sereis 45

1

 

-

  

-

  

-

Series 46

-

 

1

  

393,183

  

393,183

Total

32

 

7

 

$

13,370,012

 

$

13,992,959

* Fund proceeds from disposition does not include $622,947 recorded as a receivable as of December 31, 2016, for Series 31.

The gain described above is for financial statement purposes only. There are significant differences between the equity method of accounting and the tax reporting of income and losses from Operating Partnership investments. The largest difference is the ability, for tax purposes, to deduct losses in excess of the Fund's investment in the Operating Partnership. As a result, the amount of gain recognized for tax purposes may be significantly higher than the gain recorded in the financial statements.









Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

 

The Fund's fiscal year ends March 31st for each year, while all the Operating Partnerships' fiscal years are the calendar year. Pursuant to the provisions of each Operating Partnership Agreement, financial results for each of the Operating Partnerships are provided to the Fund within 45 days after the close of each Operating Partnership's quarterly period. Accordingly, the current financial results available for the Operating Partnerships are for the nine months ended September 30, 2017.2018.

 

 

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

2017

2016

2018

2017

     

Revenues

Revenues

  

Revenues

  

Rental

$  39,192,976

$  51,924,209

Rental

$  30,464,104

$  39,192,976

Interest and other

   1,235,063

   2,034,484

Interest and other

     867,967

   1,235,063

  40,428,039

  53,958,693

  31,332,071

  40,428,039

     

Expenses

Expenses

  

Expenses

  

Interest

6,754,119

9,129,281

Interest

5,133,584

6,754,119

Depreciation and amortization

10,698,194

14,396,782

Depreciation and amortization

7,690,864

10,698,194

Operating expenses

  28,924,546

  37,800,040

Operating expenses

  21,606,132

  28,924,546

  46,376,859

  61,326,103

  34,430,580

  46,376,859

     

NET LOSS

NET LOSS

$ (5,948,820)

$ (7,367,410)

NET LOSS

$ (3,098,509)

$ (5,948,820)

     

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$ (5,889,331)


$ (7,293,736)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$ (3,067,524)


$ (5,889,331)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$    (59,489)


$    (73,674)

Net loss allocated to other
Partners


$    (30,985)


$    (59,489)

 

* Amounts include $(5,889,331) and $(7,293,736) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 20

 

 

 

2017

2016

Revenues

  
 

Rental

$   352,045

$   467,857

 

Interest and other

    24,048

    25,198

 

   376,093

   493,055

   

Expenses

  
 

Interest

32,617

50,048

 

Depreciation and amortization

91,765

122,081

 

Operating expenses

   315,661

   371,567

 

   440,043

   543,696

   

NET LOSS

$  (63,950)

$  (50,641)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$  (63,310)


$  (50,135)

   

Net loss allocated to other
Partners


$     (640)


$     (506)

* Amounts include $(63,310) and $(50,135) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 21

 

20172018

20162017

Revenues

  
 

Rental

$         -

$   379,750352,045

 

Interest and other

         -

    2,46224,048

 

         -

   382,212376,093

   

Expenses

  
 

Interest

-

36,54532,617

 

Depreciation and amortization

-

62,27591,765

 

Operating expenses

         -

   284,189315,661

 

         -

   383,009440,043

   

NET LOSS

$         -

$  (797)(63,950)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$         -


$  (789)(63,310)

   

Net loss allocated to other
Partners


$         -


$     (8)(640)

 

* Amounts include $- and $(789) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 22


 

2017

2016

Revenues

  
 

Rental

$   382,584

$   380,419

 

Interest and other

    13,663

   15,355

 

   396,247

   395,774

   

Expenses

  
 

Interest

34,025

38,301

 

Depreciation and amortization

103,504

84,013

 

Operating expenses

   311,606

   322,022

 

   449,135

   444,336

   

NET LOSS

$  (52,888)

$  (48,562)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$  (52,359)


$  (48,076)

   

Net loss allocated to other
Partners


$     (529)


$     (486)

* Amounts include $(52,359) and $(48,076) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 23


 

2017

2016

Revenues

  

Rental

$   316,873

$1,404,840

 

Interest and other

    15,894

    48,308

 

   332,767

 1,453,148

   

Expenses

  
 

Interest

18,061

114,138

 

Depreciation and amortization

67,348

468,885

 

Operating expenses

   263,411

1,146,498

 

   348,820

 1,729,521

   

NET LOSS

$  (16,053)

$ (276,373)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$  (15,892)


$ (273,608)

   

Net loss allocated to other
Partners


$     (161)


$   (2,765)

* Amounts include $(15,892) and $(273,608) for 2017 and 2016, of net loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 24


 

2017

2016

Revenues

  
 

Rental

$   768,883

$   770,493

 

Interest and other

    15,362

    14,924

 

   784,245

   785,417

   

Expenses

  
 

Interest

67,689

68,965

 

Depreciation and amortization

211,044

205,010

 

Operating expenses

   620,298

   606,482

 

   899,031

   880,457

   

NET LOSS

$ (114,786)

$  (95,040)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$ (113,638)


$  (94,090)

   

Net loss allocated to other
Partners


$   (1,148)


$     (950)

* Amounts include $(113,638) and $(94,090) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 25


2017

2016

Revenues

Rental

$         -

$   644,357

Interest and other

         -

    20,795

         -

   665,152

Expenses

Interest

-

76,186

Depreciation and amortization

-

121,323

Operating expenses

         -

   494,613

         -

   692,122

NET LOSS

$         -

$  (26,970)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$         -


$  (26,700)

Net loss allocated to other
Partners


$         -


$     (270)

* Amounts include $- and $(26,700) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 26


21

 

2017

2016

Revenues

  
 

Rental

$ 1,258,324

$ 1,680,959

 

Interest and other

    22,706

    37,896

 

 1,281,030

 1,718,855

   

Expenses

  
 

Interest

208,522

272,097

 

Depreciation and amortization

321,930

432,391

 

Operating expenses

 1,099,558

 1,446,677

 

 1,630,010

 2,151,165

   

NET LOSS

$ (348,980)

$ (432,310)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$ (345,490)


$ (427,987)

   

Net loss allocated to other
Partners


$   (3,490)


$   (4,323)

 

* Amounts include $(345,490) and $(427,987) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

2018

2017

Revenues

Rental

$         -

$         -

Interest and other

         -

         -

         -

         -

Expenses

Interest

-

-

Depreciation and amortization

-

-

Operating expenses

         -

         -

         -

         -

NET LOSS

$         -

$         -

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$         -


$         -

Net loss allocated to other
Partners


$         -


$         -

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 2722


 

2017

2016

Revenues

  
 

Rental

$   563,566

$ 2,048,745

 

Interest and other

     7,923

     9,002

 

   571,489

 2,057,747

   

Expenses

  
 

Interest

32,644

363,382

 

Depreciation and amortization

165,370

455,020

 

Operating expenses

   457,051

  1,396,897

 

   655,065

 2,215,299

   

NET LOSS

$  (83,576)

$ (157,552)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$  (82,740)


$ (155,976)

   

Net loss allocated to other
Partners


$     (836)


$   (1,576)

2018

2017

Revenues

Rental

$         -

$   382,584

Interest and other

         -

    13,663

         -

   396,247

Expenses

Interest

-

34,025

Depreciation and amortization

-

103,504

Operating expenses

         -

   311,606

         -

   449,135

NET LOSS

$         -

$  (52,888)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$         -


$  (52,359)

Net loss allocated to other
Partners


$         -


$     (529)

 

* Amounts include $(82,740) and $(155,976)

The Fund accounts for 2017 and 2016, respectively, of net loss not recognized underits investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2018
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 23


2018

2017

Revenues

Rental

$         -

$   316,873

Interest and other

         -

   15,894

         -

   332,767

Expenses

Interest

-

18,061

Depreciation and amortization

-

67,348

Operating expenses

         -

   263,411

         -

   348,820

NET LOSS

$         -

$  (16,053)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$         -


$  (15,892)

Net loss allocated to other
Partners


$         -


$     (161)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2018
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 24


 

2018

2017

Revenues

  
 

Rental

$   633,339

$   768,883

 

Interest and other

    20,560

    15,362

 

   653,899

   784,245

   

Expenses

  
 

Interest

51,588

67,689

 

Depreciation and amortization

178,656

211,044

 

Operating expenses

   509,233

   620,298

 

   739,477

   899,031

   

NET LOSS

$  (85,578)

$ (114,786)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$  (84,722)


$ (113,638)

   

Net loss allocated to other
Partners


$     (856)


$   (1,148)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2018
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 25


2018

2017

Revenues

Rental

$         -

$         -

Interest and other

         -

         -

         -

         -

Expenses

Interest

-

-

Depreciation and amortization

-

-

Operating expenses

         -

         -

         -

         -

NET LOSS

$         -

$         -

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$         -


$         -

Net loss allocated to other
Partners


$         -


$         -

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2018
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 26


 

2018

2017

Revenues

  
 

Rental

$   956,030

$ 1,258,324

 

Interest and other

    11,483

    22,706

 

   967,513

 1,281,030

   

Expenses

  
 

Interest

167,510

208,522

 

Depreciation and amortization

233,109

321,930

 

Operating expenses

   805,239

 1,099,558

 

 1,205,858

 1,630,010

   

NET LOSS

$ (238,345)

$ (348,980)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$ (235,962)


$ (345,490)

   

Net loss allocated to other
Partners


$   (2,383)


$   (3,490)

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 2827


2017

2016

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$    751,710

$    736,324

Rental

$   495,454

$   563,566

Interest and other

     18,953

     14,925

Interest and other

     9,742

     7,923

    770,663

    751,249

   505,196

   571,489

     

Expenses

Expenses

  

Expenses

  

Interest

122,273

113,463

Interest

24,930

32,644

Depreciation and amortization

169,333

173,079

Depreciation and amortization

133,387

165,370

Operating expenses

    587,874

    655,453

Operating expenses

   413,037

   457,051

    879,480

    941,995

   571,354

   655,065

     

NET LOSS

NET LOSS

$  (108,817)

$  (190,746)

NET LOSS

$  (66,158)

$  (83,576)

     

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$  (107,729)


$  (188,839)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$  (65,496)


$  (82,740)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$    (1,088)


$    (1,907)

Net loss allocated to other
Partners


$     (662)


$     (836)

 

* Amounts include $(107,729) and $(188,839) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 2928


 

2018

2017

Revenues

  
 

Rental

$    616,769

$    751,710

 

Interest and other

     33,854

     18,953

 

    650,623

    770,663

   

Expenses

  
 

Interest

99,851

122,273

 

Depreciation and amortization

137,643

169,333

 

Operating expenses

    511,313

    587,874

 

    748,807

    879,480

   

NET LOSS

$   (98,184)

$  (108,817)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$   (97,202)


$  (107,729)

   

Net loss allocated to other
Partners


$      (982)


$    (1,088)

 

 

 

2017

2016

Revenues

  
 

Rental

$  1,311,305

$  1,423,670

 

Interest and other

    126,151

    108,448

 

  1,437,456

  1,532,118

   

Expenses

  
 

Interest

295,053

307,632

 

Depreciation and amortization

371,636

367,084

 

Operating expenses

  1,166,408

  1,153,171

 

  1,833,097

  1,827,887

   

NET LOSS

$  (395,641)

$  (295,769)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$  (391,685)


$  (292,811)

   

Net loss allocated to other
Partners


$    (3,956)


$    (2,958)

* Amounts include $(391,685) and $(292,811) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 30


29

 

2017

2016

Revenues

  
 

Rental

$   772,562

$ 1,124,928

 

Interest and other

    18,959

    81,835

 

   791,521

 1,206,763

   

Expenses

  
 

Interest

70,220

132,921

 

Depreciation and amortization

217,874

303,986

 

Operating expenses

   606,608

   927,999

 

   894,702

 1,364,906

   

NET LOSS

$ (103,181)

$ (158,143)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$ (102,149)


$ (156,562)

   

Net loss allocated to other
Partners


$   (1,032)


$   (1,581)

 

* Amounts include $(102,149) and $(156,562) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

2018

2017

Revenues

  
 

Rental

$    784,882

$  1,311,305

 

Interest and other

     30,243

    126,151

 

    815,125

  1,437,456

   

Expenses

  
 

Interest

148,877

295,053

 

Depreciation and amortization

162,256

371,636

 

Operating expenses

    665,615

  1,166,408

 

    976,748

  1,833,097

   

NET LOSS

$  (161,623)

$  (395,641)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$  (160,007)


$  (391,685)

   

Net loss allocated to other
Partners


$    (1,616)


$    (3,956)

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 3130


 

2017

2016

Revenues

  
 

Rental

$  1,132,079

$  2,384,452

 

Interest and other

     33,083

    188,273

 

  1,165,162

  2,572,725

   

Expenses

  
 

Interest

107,647

236,725

 

Depreciation and amortization

385,046

707,858

 

Operating expenses

  1,013,004

  1,911,268

 

  1,505,697

  2,855,851

   

NET LOSS

$  (340,535)

$  (283,126)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$  (337,130)


$  (280,295)

   

Net loss allocated to other
Partners


$    (3,405)


$    (2,831)

2018

2017

Revenues

Rental

$         -

$   772,562

Interest and other

         -

    18,959

         -

   791,521

Expenses

Interest

-

70,220

Depreciation and amortization

-

217,874

Operating expenses

         -

   606,608

         -

   894,702

NET LOSS

$         -

$ (103,181)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$         -


$ (102,149)

Net loss allocated to other
Partners


$         -


$   (1,032)

 

* Amounts include $(337,130) and $(280,295) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 3231


2017

2016

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$  1,475,541

$  2,468,262

Rental

$    376,723

$  1,132,079

Interest and other

     35,824

    278,117

Interest and other

     10,701

     33,083

  1,511,365

  2,746,379

    387,424

  1,165,162

     

Expenses

Expenses

  

Expenses

  

Interest

240,025

388,448

Interest

20,306

107,647

Depreciation and amortization

455,816

779,977

Depreciation and amortization

104,349

385,046

Operating expenses

  1,192,506

  2,010,447

Operating expenses

    310,598

  1,013,004

  1,888,347

  3,178,872

    435,253

  1,505,697

     

NET LOSS

NET LOSS

$  (376,982)

$  (432,493)

NET LOSS

$   (47,829)

$  (340,535)

     

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$  (373,212)


$  (428,168)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$   (47,351)


$  (337,130)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$    (3,770)


$    (4,325)

Net loss allocated to other
Partners


$      (478)


$    (3,405)

* Amounts include $(373,212) and $(428,168) for 2017 and 2016, respectively,of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 3332


2017

2016

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$ 1,040,194

$ 1,030,707

Rental

$  1,155,742

$  1,475,541

Interest and other

    36,781

    34,834

Interest and other

    17,208

     35,824

 1,076,975

 1,065,541

  1,172,950

  1,511,365

     

Expenses

Expenses

  

Expenses

  

Interest

179,339

173,255

Interest

192,666

240,025

Depreciation and amortization

260,563

284,822

Depreciation and amortization

328,747

455,816

Operating expenses

   784,939

   777,630

Operating expenses

    961,941

  1,192,506

 1,224,841

 1,235,707

  1,483,354

  1,888,347

     

NET LOSS

NET LOSS

$ (147,866)

$ (170,166)

NET LOSS

$  (310,404)

$  (376,982)

     

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$ (146,387)


$ (168,464)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$  (307,300)


$  (373,212)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$   (1,479)


$   (1,702)

Net loss allocated to other
Partners


$    (3,104)


$    (3,770)

* Amounts include $(146,387) and $(168,464) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 3433


2017

2016

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$   728,809

$ 1,029,229

Rental

$   949,402

$ 1,040,194

Interest and other

    26,259

    32,598

Interest and other

    34,529

    36,781

   755,068

 1,061,827

   983,931

 1,076,975

 

     

Expenses

Expenses

  

Expenses

  

Interest

78,197

156,982

Interest

152,512

179,339

Depreciation and amortization

206,720

283,865

Depreciation and amortization

209,302

260,563

Operating expenses

   565,852

   841,070

Operating expenses

   698,505

   784,939

   850,769

 1,281,917

 1,060,319

 1,224,841

     

NET LOSS

NET LOSS

$  (95,701)

$ (220,090)

NET LOSS

$  (76,388)

$ (147,866)

     

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$  (94,744)


$ (217,889)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$  (75,624)


$ (146,387)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$     (957)


$   (2,201)

Net loss allocated to other
Partners


$     (764)


$   (1,479)

 

* Amounts include $(94,744) and $(217,889) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 3534


2017

2016

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$   829,380

$ 1,684,024

Rental

$   742,517

$   728,809

Interest and other

    22,600

    60,075

Interest and other

    37,801

    26,259

   851,980

 1,744,099

   780,318

   755,068

     

Expenses

Expenses

  

Expenses

  

Interest

138,051

329,373

Interest

86,873

78,197

Depreciation and amortization

254,427

602,766

Depreciation and amortization

205,643

206,720

Operating expenses

   482,739

 1,057,585

Operating expenses

   556,471

   565,852

   875,217

 1,989,724

   848,987

   850,769

     

NET LOSS

NET LOSS

$  (23,237)

$ (245,625)

NET LOSS

$  (68,669)

$  (95,701)

     

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$  (23,005)


$ (243,169)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$  (67,982)


$  (94,744)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$     (232)


$   (2,456)

Net loss allocated to other
Partners


$     (687)


$     (957)

 

* Amounts include $(23,005) and $(243,169) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 3635


 

2017

2016

Revenues

  
 

Rental

$   483,137

$   473,966

 

Interest and other

    13,767

    13,853

 

   496,904

   487,819

   

Expenses

  
 

Interest

96,625

87,368

 

Depreciation and amortization

126,835

146,670

 

Operating expenses

   372,348

   367,176

 

   595,808

   601,214

   

NET LOSS

$  (98,904)

$ (113,395)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$  (97,915)


$ (112,261)

   

Net loss allocated to other
Partners


$     (989)


$   (1,134)

* Amounts include $(97,915) and $(112,261) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 37

 

2018

2017

Revenues

  
 

Rental

$   757,401

$   829,380

 

Interest and other

    42,456

    22,600

 

   799,857

   851,980

   

Expenses

  
 

Interest

124,866

138,051

 

Depreciation and amortization

241,734

254,427

 

Operating expenses

   455,666

   482,739

 

   822,266

   875,217

   

NET LOSS

$  (22,409)

$  (23,237)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$  (22,185)


$  (23,005)

   

Net loss allocated to other
Partners


$     (224)


$     (232)

 

 

 

2017

2016

Revenues

  
 

Rental

$   588,136

$ 1,824,071

 

Interest and other

    58,474

    93,131

 

   646,610

 1,917,202

   

Expenses

  
 

Interest

96,219

390,254

 

Depreciation and amortization

197,321

622,199

 

Operating expenses

   441,915

 1,368,577

 

   735,455

 2,381,030

   

NET LOSS

$  (88,845)

$ (463,828)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$  (87,957)


$ (459,190)

   

Net loss allocated to other
Partners


$     (888)


$   (4,638)

* Amounts include $(87,957) and $(459,190) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 3836


2017

2016

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$ 1,331,140

$ 2,435,309

Rental

$   358,462

$   483,137

Interest and other

    16,255

    67,401

Interest and other

       876

    13,767

 1,347,395

 2,502,710

   359,338

   496,904

     

Expenses

Expenses

  

Expenses

  

Interest

185,342

430,695

Interest

67,983

96,625

Depreciation and amortization

279,470

583,791

Depreciation and amortization

83,885

126,835

Operating expenses

   960,761

 1,692,637

Operating expenses

   263,534

   372,348

 1,425,573

 2,707,123

   415,402

   595,808

     

NET LOSS

NET LOSS

$  (78,178)

$ (204,413)

NET LOSS

$  (56,064)

$  (98,904)

     

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$  (77,396)


$ (202,369)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$  (55,503)


$  (97,915)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$     (782)


$   (2,044)

Net loss allocated to other
Partners


$     (561)


$     (989)

 

* Amounts include $(77,396) and $(202,369)

The Fund accounts for 2017 and 2016, respectively, of net loss not recognized underits investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2018
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 37

2018

2017

Revenues

Rental

$         -

$   588,136

Interest and other

         -

    58,474

         -

   646,610

Expenses

Interest

-

96,219

Depreciation and amortization

-

197,321

Operating expenses

         -

   441,915

         -

   735,455

NET LOSS

$         -

$  (88,845)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$         -


$  (87,957)

Net loss allocated to other
Partners


$         -


$     (888)

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 3938


2017

2016

Revenues

Rental

$         -

$ 1,039,650

Interest and other

         -

    43,692

         -

 1,083,342

Expenses

Interest

-

214,492

Depreciation and amortization

-

243,036

Operating expenses

         -

   727,512

         -

 1,185,040

NET LOSS

$         -

$ (101,698)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$         -


$ (100,681)

Net loss allocated to other
Partners


$         -


$   (1,017)

 

2018

2017

Revenues

  
 

Rental

$ 1,216,088

$ 1,331,140

 

Interest and other

    24,560

    16,255

 

 1,240,648

 1,347,395

   

Expenses

  
 

Interest

166,859

185,342

 

Depreciation and amortization

233,270

279,470

 

Operating expenses

   847,211

   960,761

 

 1,247,340

 1,425,573

   

NET LOSS

$   (6,692)

$  (78,178)

   

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$   (6,625)


$  (77,396)

   

Net loss allocated to other
Partners


$      (67)


$     (782)

 

* Amounts include $- and $(100,681) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2018
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 39


2018

2017

Revenues

Rental

$         -

$         -

Interest and other

         -

         -

         -

         -

Expenses

Interest

-

-

Depreciation and amortization

-

-

Operating expenses

         -

         -

         -

         -

NET LOSS

$         -

$         -

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$         -


$         -

Net loss allocated to other
Partners


$         -


$         -

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 40


2017

2016

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$ 1,677,092

$ 2,063,291

Rental

$ 1,443,245

$ 1,677,092

Interest and other

    37,872

    40,671

Interest and other

    36,591

    37,872

 1,714,964

 2,103,962

 1,479,836

 1,714,964

     

Expenses

Expenses

  

Expenses

  

Interest

342,476

431,037

Interest

267,896

342,476

Depreciation and amortization

493,185

610,754

Depreciation and amortization

378,996

493,185

Operating expenses

 1,380,725

 1,411,808

Operating expenses

 1,100,318

 1,380,725

 2,216,386

 2,453,599

 1,747,210

 2,216,386

     

NET LOSS

NET LOSS

$ (501,422)

$ (349,637)

NET LOSS

$ (267,374)

$ (501,422)

     

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$ (496,408)


$ (346,141)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$ (264,700)


$ (496,408)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$   (5,014)


$   (3,496)

Net loss allocated to other
Partners


$   (2,674)


$   (5,014)

 

* Amounts include $(496,408) and $(346,141) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.




















Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 41

 

 

2017

2016

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$ 3,731,606

$ 4,092,808

Rental

$ 2,723,324

$ 3,731,606

Interest and other

    78,700

   105,538

Interest and other

    44,492

    78,700

 3,810,306

 4,198,346

 2,767,816

 3,810,306

     

Expenses

Expenses

  

Expenses

  

Interest

774,931

835,787

Interest

510,040

774,931

Depreciation and amortization

893,311

1,017,190

Depreciation and amortization

577,130

893,311

Operating expenses

 2,606,559

 2,752,748

Operating expenses

 1,835,494

 2,606,559

 4,274,801

 4,605,725

 2,922,664

 4,274,801

     

NET LOSS

NET LOSS

$ (464,495)

$ (407,379)

NET LOSS

$ (154,848)

$ (464,495)

     

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$ (459,850)


$ (403,305)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$ (153,300)


$ (459,850)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$   (4,645)


$   (4,074)

Net loss allocated to other
Partners


$   (1,548)


$   (4,645)

* Amounts include $(459,850) and $(403,305) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 42


2017

2016

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$ 2,581,674

$ 2,696,145

Rental

$ 1,660,288

$ 2,581,674

Interest and other

   103,563

   212,506

Interest and other

    68,234

   103,563

 2,685,237

 2,908,651

 1,728,522

 2,685,237

     

Expenses

Expenses

  

Expenses

  

Interest

560,478

575,368

Interest

337,485

560,478

Depreciation and amortization

801,778

844,726

Depreciation and amortization

501,382

801,778

Operating expenses

 1,918,744

 2,089,988

Operating expenses

 1,204,267

 1,918,744

 3,281,000

 3,510,082

 2,043,134

 3,281,000

     

NET LOSS

NET LOSS

$ (595,763)

$ (601,431)

NET LOSS

$ (314,612)

$ (595,763)

     

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$ (589,805)


$ (595,417)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$ (311,466)


$ (589,805)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$   (5,958)


$   (6,014)

Net loss allocated to other
Partners


$   (3,146)


$   (5,958)

 

* Amounts include $(589,805) and $(595,417) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 43


2017

2016

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$ 3,823,594

$ 3,876,925

Rental

$ 2,592,340

$ 3,823,594

Interest and other

   186,172

   164,754

Interest and other

   110,695

   186,172

 4,009,766

 4,041,679

 2,703,035

 4,009,766

     

Expenses

Expenses

  

Expenses

  

Interest

586,218

585,992

Interest

308,956

586,218

Depreciation and amortization

1,263,725

1,312,092

Depreciation and amortization

788,153

1,263,725

Operating expenses

 2,952,130

 2,959,326

Operating expenses

 1,974,029

 2,952,130

 4,802,073

 4,857,410

 3,071,138

 4,802,073

     

NET LOSS

NET LOSS

$ (792,307)

$ (815,731)

NET LOSS

$ (368,103)

$ (792,307)

     

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$ (784,384)


$ (807,574)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$ (364,422)


$ (784,384)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$   (7,923)


$   (8,157)

Net loss allocated to other
Partners


$   (3,681)


$   (7,923)

 

* Amounts include $(784,384) and $(807,574) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 44


2017

2016

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$  4,397,610

$  4,391,077

Rental

$  4,471,520

$  4,397,610

Interest and other

    136,412

    120,037

Interest and other

    122,781

    136,412

  4,534,022

  4,511,114

  4,594,301

  4,534,022

     

Expenses

Expenses

  

Expenses

  

Interest

 1,051,820

1,077,199

Interest

1,043,365

1,051,820

Depreciation and amortization

1,025,862

1,079,209

Depreciation and amortization

1,014,262

1,025,862

Operating expenses

  2,635,539

  2,519,646

Operating expenses

  2,566,624

  2,635,539

  4,713,221

  4,676,054

  4,624,251

  4,713,221

NET LOSS

NET LOSS

$  (179,199)

$  (164,940)

NET LOSS

$   (29,950)

$  (179,199)

     

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$  (177,407)


$  (163,291)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$   (29,651)


$  (177,407)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$    (1,792)


$    (1,649)

Net loss allocated to other
Partners


$      (299)


$    (1,792)

 

* Amounts include $(177,407) and $(163,291) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 45


2017

2016

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$  5,430,265

$  5,379,892

Rental

$  4,990,180

$  5,430,265

Interest and other

    110,355

    106,730

Interest and other

    103,760

    110,355

  5,540,620

  5,486,622

  5,093,940

  5,540,620

     

Expenses

Expenses

  

Expenses

  

Interest

727,734

766,156

Interest

656,160

727,734

Depreciation and amortization

1,476,660

1,506,167

Depreciation and amortization

1,328,457

1,476,660

Operating expenses

  3,931,531

  3,831,853

Operating expenses

  3,702,951

  3,931,531

  6,135,925

  6,104,176

  5,687,568

  6,135,925

     

NET LOSS

NET LOSS

$  (595,305)

$  (617,554)

NET LOSS

$  (593,628)

$  (595,305)

     

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$  (589,352)


$  (611,378)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$  (587,692)


$  (589,352)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$    (5,953)


$    (6,176)

Net loss allocated to other
Partners


$    (5,936)


$    (5,953)

 

* Amounts include $(589,352) and $(611,378) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

 

Series 46


2017

2016

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$ 3,464,867

$ 3,992,059

Rental

$ 3,540,398

$ 3,464,867

Interest and other

    75,287

    93,126

Interest and other

   107,401

    75,287

 3,540,154

 4,085,185

 3,647,799

 3,540,154

     

Expenses

Expenses

  

Expenses

  

Interest

707,913

876,472

Interest

704,861

707,913

Depreciation and amortization

857,671

976,513

Depreciation and amortization

850,503

857,671

Operating expenses

 2,256,779

 2,675,201

Operating expenses

 2,224,086

 2,256,779

 3,822,363

 4,528,186

 3,779,450

 3,822,363

     

NET LOSS

NET LOSS

$ (282,209)

$ (443,001)

NET LOSS

$ (131,651)

$ (282,209)

     

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*


$ (279,387)


$ (438,571)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.


$ (130,334)


$ (279,387)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$   (2,822)


$   (4,430)

Net loss allocated to other
Partners


$   (1,317)


$   (2,822)

 

 

* Amounts include $(279,387) and $(438,571) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

 

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

 

 

 

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 20172018

(Unaudited)

NOTE E - TAXABLE LOSS

The Fund's taxable loss for calendar year ended December 31, 2017 is expected to differ from its loss for financial reporting purposes. This is primarily due to accounting differences in depreciation incurred by the Operating Partnerships and also differences between the equity method of accounting and the IRS accounting methods.

 

NOTE F - INCOME TAXES

 

The Fund has elected to be treated as a pass-through entity for income tax purposes and, as such, is not subject to income taxes. Rather, all items of taxable income, deductions and tax credits are passed through to and are reported by its owners on their respective income tax returns. The Fund's federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, the Fund is not required to take any tax positions in order to qualify as a pass-through entity. The Fund is required to file and does file tax returns with the Internal Revenue Service and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Fund has no other tax positions, which must be considered for disclosure. Income tax returns filed by the Fund are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 20132014 remain open.

 

NOTE G - SUBSEQUENT EVENTS

 

Subsequent to December 31, 2017,2018, the Fund has entered into an agreement to transfer the interest in threefive operating limited partnerships. The estimated transfer price and other terms for the dispositions of the operating limited partnerships have been determined. The estimated proceeds to be received for the operating limited partnership is $755,204.partnerships are $689,744. The estimated gain on the transfer of the operating limited partnership is $750,204and ispartnerships are $661,244and are expected to be recognized in the fourth quarter of fiscal year ending March 31, 2018.2019.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Item 2. Management's Discussions and Analysis of Financial Condition and
Results of Operations

 

This Management's Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements including our intentions, hopes, beliefs, expectations, strategies and predictions of our future activities, or other future events or conditions. These statements are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created by these acts. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including, for example, the factors identified in Part I, Item 1A. "Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended March 31, 2017.2018. Although we believe that the assumptions underlying these forward-looking statements are reasonable, any of the assumptions could be inaccurate, and there can be no assurance that the forward-looking statements included in this Report will prove to be accurate. In light of the significant uncertainties inherent in these forward-looking statements, the inclusion of this information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved.

 

Liquidity

The Fund's primary source of funds was the proceeds of its Public Offering.  Other sources of liquidity include (i) interest earned on capital contributions unpaid for the nine months ended December 31, 20172018 or on working capital reserves, (ii) cash distributions from operations of the Operating Partnerships in which the Fund has invested and (iii) proceeds received from the dispositions of the Operating Partnership that are returned to fund reserves.  These sources of liquidity, along with the Fund's working capital reserve, are available to meet the obligations of the Partnership.  The Fund does not anticipate significant cash distributions from operations of the Operating Partnerships.

 

The Fund is currently accruing the fund management fee.  Fund management fees accrued during the quarter ended December 31, 20172018 were $572,291$465,131 and total fund management fees accrued as of December 31, 20172018 were $32,440,446.$19,490,438. During the nine months ended December 31, 2017, $8,519,8592018, $5,841,912 of the accrued fund management fees were paid. Pursuant to the Partnership Agreement, these liabilities will be deferred until the Fund receives proceeds from sales of the Operating Partnerships that will be used to satisfy these liabilities. The Fund's working capital and sources of liquidity coupled with affiliated party liability accruals allow sufficient levels of liquidity to meet the third party obligations of the Fund.  The Fund is currently unaware of any trends that would create insufficient liquidity to meet future third party obligations of the Fund.

















 

Liquidity (continued)

As of December 31, 2017,2018, an affiliate of the general partner of the Fund advanced a total of $217,533$232,650 to Series 44 to pay some operating expenses of the Fund, and to make advances and/or loans to Operating Partnerships. These advances are included in Accounts payable affiliates. During the nine months ended December 31, 2017, $11,4802018, $12,412 was advanced to Series 44 from an affiliate of the general partner, as well aspartner. As of December 31, 2017 $220,455 and $54,659 was paid back from Series 39 and Series 45, respectively, to an affiliate of the general partner. All payables to affiliates will be paid, without interest, from available cash flow or the proceeds of sales or refinancing of the Fund's interests in Operating Partnerships.

 

Capital Resources

The Fund offered BACs in the Public Offering declared effective by the Securities and Exchange Commission on December 16, 1993. The Fund received $38,667,000, $18,927,000, $25,644,000, $33,366,000, $21,697,000, $30,248,000, $39,959,000, $24,607,000, $39,999,000, $39,918,000, $26,490,750, $44,057,750, $47,431,000, $26,362,000, $35,273,000, $33,004,630, $21,068,375, $25,125,000, $25,431,000, $22,921,000, $26,629,250, $28,916,260, $27,442,620, $27,442,620, $36,379,870, $27,019,730, $40,143,670 and $29,809,980 representing 3,866,700, 1,892,700, 2,564,400, 3,336,727, 2,169,878, 3,026,109, 3,995,900, 2,460,700, 4,000,738, 3,991,800, 2,651,000, 4,417,857, 4,754,198, 2,636,533, 3,529,319, 3,300,463, 2,106,837, 2,512,500, 2,543,100, 2,292,152, 2,630,256, 2,891,626, 2,744,262, 3,637,987, 2,701,973, 4,014,367 and 2,980,998 BACs from investors admitted as BAC Holders in Series 20, Series 21, Series 22, Series 23, Series 24, Series 25, Series 26, Series 27, Series 28, Series 29, Series 30, Series 31, Series 32, Series 33, Series 34, Series 35, Series 36, Series 37, Series 38, Series 39, Series 40, Series 41, Series 42, Series 43, Series 44, Series 45 and Series 46, respectively, as of December 31, 2017.2018.

Series 20

The Fund commenced offering BACs in Series 20 on January 21, 1994. Offers and sales of BACs in Series 20 were completed on June 24, 1994. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 24 Operating Partnerships in the amount of $27,693,970.Series 20 has since sold its interest in 22all 24 of the Operating Partnerships and 2 remain.Partnerships.

Prior to the quarter ended December 31, 2017,2018, Series 20 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 21

The Fund commenced offering BACs in Series 21 on July 5, 1994. Offers and sales of BACs in Series 21 were completed on September 30, 1994. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 14 Operating Partnerships in the amount of $13,872,728. Series 21 has since sold its interest in all 14 of the Operating Partnerships.

Prior to the quarter ended December 31, 2017,2018, Series 21 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 22

The Fund commenced offering BACs in Series 22 on October 12, 1994. Offers and sales of BACs in Series 22 were completed on December 28, 1994. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 29 Operating Partnerships in the amount of $18,758,748. Series 22 has since sold its interest in 26all 29 of the Operating Partnerships and 3 remain.Partnerships.

Prior to the quarter ended December 31, 2017,2018, Series 22 had released all payments of its capital contributions to the Operating Partnerships.

Series 23

The Fund commenced offering BACs in Series 23 on January 10, 1995. Offers and sales of BACs in Series 23 were completed on June 23, 1995. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 22 Operating Partnerships in the amount of $24,352,278. Series 23 has since sold its interest in 19all 22 of the Operating Partnerships and 3 remain.Partnerships.

Prior to the quarter ended December 31, 2017,2018, Series 23 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 24

The Fund commenced offering BACs in Series 24 on June 9, 1995. Offers and sales of BACs in Series 24 were completed on September 22, 1995. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 24 Operating Partnerships in the amount of $15,796,309. Series 24 has since sold its interest in 1820 of the Operating Partnerships and 64 remain.

Prior to the quarter ended December 31, 2017,2018, Series 24 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 25

The Fund commenced offering BACs in Series 25 on September 30, 1995. Offers and sales of BACs in Series 25 were completed on December 29, 1995. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 22 Operating Partnerships in the amount of $22,324,539. Series 25 has since sold its interest in all 22 of the Operating Partnerships.

Prior to the quarter ended December 31, 2017,2018, Series 25 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 26

The Fund commenced offering BACs in Series 26 on January 18, 1996. Offers and sales of BACs in Series 26 were completed on June 14, 1996. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 45 Operating Partnerships in the amount of $29,401,215. Series 26 has since sold its interest in 3637 of the Operating Partnerships and 98 remain.

Prior to the quarter ended December 31, 2017,2018, Series 26 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 27

The Fund commenced offering BACs in Series 27 on June 17, 1996. Offers and sales of BACs in Series 27 were completed on September 27, 1996. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 16 Operating Partnerships in the amount of $17,881,574. Series 27 has since sold its interest in 13 of the Operating Partnerships and 3 remain.

Prior to the quarter ended December 31, 2017,2018, Series 27 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 28

The Fund commenced offering BACs in Series 28 on September 30, 1996. Offers and sales of BACs in Series 28 were completed on January 31, 1997. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 26 Operating Partnership in the amount of $29,281,983. Series 28 has since sold its interest in 2122 of the Operating Partnerships and 54 remain.

Prior to the quarter ended December 31, 2017,2018, Series 28 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 29

The Fund commenced offering BACs in Series 29 on February 10, 1997. Offers and sales of BACs in Series 29 were completed on June 20, 1997. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 22 Operating Partnerships in the amount of $29,137,877. Series 29 has since sold its interest in 1417 of the Operating Partnerships and 85 remain.

During the quarter ended December 31, 2017,2018, Series 29 did not record any releases of capital contributions. Series 29 has outstanding contributions payable to 21 Operating PartnershipsPartnership in the amount of $8,235$785 as of December 31, 2017.2018. The remaining contributions will be released when the Operating Partnerships havePartnership has achieved the conditions set forth in their respectiveits partnership agreements.agreement.

Series 30

The Fund commenced offering BACs in Series 30 on June 23, 1997. Offers and sales of BACs in Series 30 were completed on September 10, 1997. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 20 Operating Partnerships in the amount of $19,497,869. Series 30 has since disposed ofsold its interest in 14all 20 of the Operating Partnerships and 6 remain.Partnerships.

DuringPrior to the quarter ended December 31, 2017,2018, Series 30 did not record any releaseshad released all payments of its capital contributions. Series 30 has outstanding contributions payable to 2the Operating Partnerships in the amount of $65,176 as of December 31, 2017. The remaining contributions will be released when Operating Partnerships have achieved the conditions set forth in their respective partnership agreements.
Partnerships.

Series 31

The Fund commenced offering BACs in Series 31 on September 11, 1997. Offers and sales of BACs in Series 31 were completed on January 18, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 27 Operating Partnerships in the amount of $32,569,100. Series 31 has since disposed of its interest in 1926 of the Operating Partnerships and 8 remain.1 remains.

During the quarter ended December 31, 2017,2018, Series 31 did not record any releases of capital contributions. Series 31 has outstanding contributions payable to 31 Operating PartnershipsPartnership in the amount of $66,294$25,000 as of December 31, 2017.2018. Of the amount outstanding, $25,000 has been funded into an escrow account on behalf of one Operating Partnership. The escrowed funds will be converted to capital and the remaining contributions of $41,294 will be released when the Operating Partnerships havePartnership has achieved the conditions set forth in their respectiveits partnership agreements.agreement.

 

Series 32

The Fund commenced offering BACs in Series 32 on January 19, 1998. Offers and sales of BACs in Series 32 were completed on June 23, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 17 Operating Partnerships in the amount of $34,129,677. Series 32 has since sold its interest in 1112 of the Operating Partnerships and 65 remain. The series has also purchased membership interests in Bradley Phase I of Massachusetts LLC, Bradley Phase II of Massachusetts LLC, Byam Village of Massachusetts LLC, Hanover Towers of Massachusetts LLC, Harbor Towers of Massachusetts LLC and Maple Hill of Massachusetts LLC. In December 2010, the investment general partner sold its membership interests and a gain on the sale of the membership interests has been recorded in the amount of $499,998 as of December 31, 2010. Under the terms of these Assignments of Membership Interests dated December 1, 1998, the series is entitled to various profits, losses, tax credits, cash flow, proceeds from capital transactions and capital accounts as defined in the individual Operating Partnership Agreements. The series utilized $1,092,847 of funds available to invest in Operating Partnerships for this investment.

During the quarter ended December 31, 2017,2018, Series 32 did not record any releases of capital contributions. Series 32 has outstanding contributions payable to 1 Operating Partnership in the amount of $1,229 as of December 31, 2017.2018. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

Series 33

The Fund commenced offering BACs in Series 33 on June 22, 1998. Offers and sales of BACs in Series 33 were completed on September 21, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 10 Operating Partnerships in the amount of $19,594,100. Series 33 has since sold its interest in 67 of the Operating Partnerships and 43 remain.

DuringPrior to the quarter ended December 31, 2017,2018, Series 33 did not record any releaseshad released all payments of its capital contributions. Series 33 has outstanding contributions payable to 1 Operating Partnership in the amount of $2,650 as of December 31, 2017. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.
Partnerships.

Series 34

The Fund commenced offering BACs in Series 34 on September 22, 1998. Offers and sales of BACs in Series 34 were completed on February 11, 1999. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 14 Operating Partnerships in the amount of $25,738,978. Series 34 has since sold its interest in 10 of the Operating Partnerships and 4 remain.

Prior to the quarter ended December 31, 2017,2018, Series 34 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 35

The Fund commenced offering BACs in Series 35 on February 22, 1999. Offers and sales of BACs in Series 35 were completed on June 28, 1999. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 11 Operating Partnerships in the amount of $24,002,391. Series 35 has since sold its interest in 9 of the Operating Partnerships and 2 remain.

Prior to the quarter ended December 31, 2017,2018, Series 35 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 36

The Fund commenced offering BACs in Series 36 on June 22, 1999. Offers and sales of BACs in Series 36 were completed on September 28, 1999. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 11 Operating Partnerships in the amount of $15,277,041. Series 36 has since sold its interest in 89 of the Operating Partnerships and 32 remain.

Prior to the quarter ended December 31, 2017,2018, Series 36 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 37

The Fund commenced offering BACs in Series 37 on October 29, 1999. Offers and sales of BACs in Series 37 were completed on January 28, 2000. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 7 Operating Partnerships in the amount of $18,735,142. Series 37 has since sold its interest in 6all 7 of the Operating Partnerships and 1 remains.Partnerships.


Prior to the quarter ended December 31, 2017,2018, Series 37 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 38

The Fund commenced offering BACs in Series 38 on February 1, 2000. Offers and sales of BACs in Series 38 were completed on July 31, 2000. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 10 Operating Partnerships in the amount of $18,612,287. Series 38 has since sold its interest in 67 of the Operating Partnerships and 43 remain. In addition, the Fund committed and used $420,296 of Series 38 net offering proceeds to acquire a membership interest in a limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes.

Prior to the quarter ended December 31, 2017,2018, Series 38 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 39

The Fund commenced offering BACs in Series 39 on August 1, 2000. Offers and sales of BACs in Series 39 were completed on January 31, 2001. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 9 Operating Partnerships in the amount of $17,115,492. Series 39 has since sold its interest in all 9 of the Operating Partnerships. In addition, the Fund committed and used $192,987 of Series 39 net offering proceeds to acquire a membership interest in a limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes.

 

Prior to the quarter ended December 31, 2017,2018, Series 39 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 40

The Fund commenced offering BACs in Series 40 on February 1, 2001. Offers and sales of BACs in Series 40 were completed on July 31, 2001. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 16 Operating Partnerships in the amount of $19,030,772. Series 40 has since sold its interest in 78 of the Operating Partnerships and 98 remain. In addition, the Fund committed and used $578,755 of Series 40 net offering proceeds to acquire a membership interest in limited liability companies, which are the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes.

During the quarter ended December 31, 2017,2018, Series 40 did not record any releases of capital contributions. Series 40 has outstanding contributions payable to 1 Operating Partnership in the amount of $102 as of December 31, 2017.2018. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

Series 41

The Fund commenced offering BACs in Series 41 on August 1, 2001. Offers and sales of BACs in Series 41 were completed on January 31, 2002. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 23 Operating Partnerships in the amount of $21,278,631. Series 41 has since sold its interest in 912 of the Operating Partnerships and 1411 remain. In addition, the Fund committed and used $195,249 of Series 41 net offering proceeds to acquire a membership interest in a limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes.

 

DuringPrior to the quarter ended December 31, 2017,2018, Series 41 did not record any releaseshad released all payments of its capital contributions. Series 41 has outstanding contributions payable to 1 Operating Partnership in the amount of $100 as of December 31, 2017. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.
Partnerships.

Series 42

The Fund commenced offering BACs in Series 42 on February 1, 2002. Offers and sales of BACs in Series 42 were completed on July 31, 2002. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 23 Operating Partnerships in the amount of $20,661,120. Series 42 has since sold its interest in 1014 of the Operating Partnerships and 139 remain.

During the quarter ended December 31, 2017,2018, Series 42 released $9,503did not record any releases of capital contributions. Series 42 has outstanding contributions payable to 1 Operating Partnership in the amount of $254 as of December 31, 2017.2018. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

Series 43

The Fund commenced offering BACs in Series 43 on August 1, 2002. Offers and sales of BCAs in Series 43 were completed in June 30, 2002. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 23 Operating Partnerships in the amount of $26,326,543. Series 43 has since sold its interest in 59 of the Operating Partnerships and 1814 remain. The Fund also committed and used $805,160 of Series 43 net offering proceeds to acquire membership interests in limited liability companies, which are the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes. In addition, the Fund committed and used $268,451 of Series 43 net offering proceeds to acquire a limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships which own or are constructing, rehabilitating or operating apartment complexes.

 

During the quarter ended December 31, 2017,2018, Series 43 released $9,508did not record any releases of capital contributions. Series 43 has outstanding contributions payable to 1 Operating PartnershipPartnerships in the amount of $26,082 as of December 31, 2017.2018. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

 

Series 44

The Fund commenced offering BACs in Series 44 on January 14, 2003. Offers and sales of BACs in Series 44 were completed in April 30, 2003. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 10 Operating Partnerships in the amount of $20,248,519. Series 44 has since sold its interest in 3 of the Operating Partnerships and 7 remain. In addition, the Fund committed and used $164,164 of Series 44 net offering proceeds to acquire a limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships which own or are constructing, rehabilitating or operating apartment complexes.

 

Prior to the quarter ended December 31, 2017,2018, Series 44 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 45

The Fund commenced offering BACs in Series 45 on July 1, 2003. Offers and sales of BACs in Series 45 were completed on September 16, 2003. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 31 Operating Partnerships in the amount of $30,232,512. Series 45 has since sold its interest in 46 of the Operating Partnerships and 2725 remain. In addition, the Fund committed and used $302,862 of Series 45 net offering proceeds to acquire a limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships which own or are constructing, rehabilitating or operating apartment complexes.

 

During the quarter ended December 31, 2017,2018, Series 45 did not record any releases of capital contributions. Series 45 has outstanding contributions payable to 1 Operating Partnership in the amount of $16,724 as of December 31, 2017.2018. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

 

Series 46

The Fund commenced offering BACs in Series 46 on September 23, 2003. Offers and sales of BACs in Series 46 were completed on December 19, 2003. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 15 Operating Partnerships in the amount of $22,495,082. Series 46 has since sold its interest in 1 of the Operating Partnerships and 14 remain. In addition, the Fund committed and used $228,691 of Series 46 net offering proceeds to acquire a limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships which own or are constructing, rehabilitating or operating apartment complexes.

 

Prior to the quarter ended December 31, 2017,2018, Series 46 had released all payments of its capital contributions to the Operating Partnerships.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Results of Operations

As of December 31, 20172018 and 2016,2017, the Fund held limited partnership interests in 179132 and 219179 Operating Partnerships, respectively. In each instance the apartment complex owned by the applicable Operating Partnership is eligible for the federal housing tax credit. Initial occupancy of a unit in each apartment complex which complied with the minimum set-aside test (i.e., initial occupancy by tenants with incomes equal to no more than a certain percentage of area median income) and the rent restriction test (i.e., gross rent charged tenants does not exceed 30% of the applicable income standards) is referred to as "Qualified Occupancy." Each of the Operating Partnerships and each of the respective apartment complexes are described more fully in the Prospectus or applicable report on Form 8-K. The general partner of the Fund believes that there is adequate casualty insurance on the properties.

 

The Fund incurred a fund management fee to Boston Capital Asset Management Limited Partnership in an amount equal to .5 percent of the aggregate cost of the apartment complexes owned by the Operating Partnerships, less the amount of various asset management and reporting fees paid by the Operating Partnerships. The fund management fees net of reporting fees incurred and the reporting fees paid by the Operating Partnerships for the three and nine months ended December 31, 2017,2018, are as follows:

 


3 Months
Gross Fund
Management Fee


3 Months
Asset Management and
Reporting Fee

3 Months
Fund Management Fee Net
of Asset Management and
Reporting Fee


3 Months
Gross Fund
Management Fee


3 Months
Asset Management and
Reporting Fee

3 Months
Fund Management Fee Net
of Asset Management and
Reporting Fee

Series 20

$  5,536

$    200

$  5,336

$  2,549

$     -

$  2,549

Series 21

2,216

-

2,216

-

-

-

Series 22

7,303

-

7,303

6,426

-

6,426

Series 23

5,556

-

5,556

5,556

-

5,556

Series 24

12,588

490

12,098

10,761

834

9,927

Series 25

-

-

-

-

-

-

Series 26

15,609

-

15,609

13,938

-

13,938

Series 27

8,915

8,760

155

7,635

10,000

(2,365)

Series 28

8,844

-

8,844

7,296

-

7,296

Series 29

20,547

-

20,547

7,261

3,000

4,261

Series 30

12,609

2,400

10,209

5,668

-

5,668

Series 31

19,092

-

19,092

16,065

-

16,065

Series 32

23,234

6,000

17,234

19,794

1,500

18,294

Series 33

15,654

18,840

(3,186)

13,318

4,000

9,318

Series 34

12,365

-

12,365

12,365

-

12,365

Series 35

10,653

3,200

7,453

10,653

6,600

4,053

Series 36

7,626

-

7,626

5,172

3,397

1,775

Series 37

10,957

-

10,957

-

-

-

Series 38

18,234

10,200

8,034

16,581

6,000

10,581

Series 39

1,712

-

1,712

-

-

-

Series 40

26,594

11,475

15,119

23,390

-

23,390

Series 41

49,564

11,715

37,849

34,076

1,915

32,161

Series 42

40,788

5,739

35,049

23,847

416

23,431

Series 43

55,612

1,365

54,247

45,090

39,558

5,532

Series 44

57,825

26,120

31,705

57,826

4,143

53,683

Series 45

70,359

2,005

68,354

67,565

4,655

62,910

Series 46

 52,299

  6,931

 45,368

 52,299

 3,000

 49,299

$572,291

$115,440

$456,851

$465,131

$89,018

$376,113

 

 

 

 

 

 

 

 


9 Months
Gross Fund
Management Fee


9 Months
Asset Management and
Reporting Fee

9 Months
Fund Management Fee Net
of Asset Management and
Reporting Fee


9 Months
Gross Fund
Management Fee


9 Months
Asset Management and
Reporting Fee

9 Months
Fund Management Fee Net
of Asset Management and
Reporting Fee

Series 20

$   16,607

$  2,312

$   14,295

$    7,869

$   500

$     7,369

Series 21

7,654

2,051

5,603

-

-

-

Series 22

21,909

500

21,409

19,278

500

18,778

Series 23

16,668

1,750

14,918

16,668

3,606

13,062

Series 24

37,764

2,835

34,929

32,283

2,001

30,282

Series 25

11,374

1,692

9,682

-

-

-

Series 26

60,699

3,841

56,858

43,485

1,000

42,485

Series 27

33,438

10,760

22,678

22,905

12,380

10,525

Series 28

26,532

2,000

24,532

23,436

2,000

21,436

Series 29

61,640

3,387

58,253

29,615

3,000

26,615

Series 30

41,872

50,954

(9,082)

23,959

5,717

18,242

Series 31

62,490

1,500

60,990

51,692

1,500

50,192

Series 32

75,974

12,500

63,474

61,675

1,500

60,175

Series 33

48,449

25,340

23,109

39,954

8,419

31,535

Series 34

37,097

4,200

32,897

37,097

4,200

32,897

Series 35

45,615

5,659

39,956

31,959

13,200

18,759

Series 36

22,878

1,910

20,968

18,788

5,307

13,481

Series 37

35,959

8,018

27,941

13,580

8,018

5,562

Series 38

54,702

10,700

44,002

51,396

9,000

42,396

Series 39

5,130

-

5,130

-

-

-

Series 40

85,069

11,475

73,594

76,578

7,550

69,028

Series 41

155,150

13,663

141,487

106,856

16,834

90,022

Series 42

126,528

12,686

113,842

80,686

23,859

56,827

Series 43

170,998

20,795

150,203

135,816

57,610

78,206

Series 44

173,476

27,120

146,356

173,477

29,139

144,338

Series 45

211,077

17,871

193,206

205,154

37,712

167,442

Series 46

  156,897

 17,559

  139,338

  156,897

 13,807

  143,090

$1,803,646

$273,078

$1,530,568

$1,461,103

$268,359

$1,192,744

 

The Fund's investment objectives do not include receipt of significant cash distributions from the Operating Partnerships in which it has invested or intends to invest. The Fund's investments in Operating Partnerships have been and will be made principally with a view towards realization of federal housing tax credits for allocation to its partners and BAC holders.

Series 20

As of December 31, 2017, and 2016, the average Qualified Occupancy for the series was 100%.The series had a totaldid not have any properties as of 2 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.2018.

For the nine month periodsended December 31, 20172018 and 2016,2017, Series 20 reflects a net loss from Operating Partnerships of $(63,950)$- and $(50,641)$(63,950), respectively, which includes depreciation and amortization of $91,765$- and $122,081,$91,765, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In March 2016, the operating general partner of Franklinton Elderly Housing entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on June 14, 2016. The sales price of the property was $1,655,869, which included the outstanding mortgage balance of approximately $1,514,869 and cash proceeds to the investment partnership of $141,000. Of the total proceeds received by the investment partnership, $3,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $138,000 were returned to cash reserves held by Series 20. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $138,000 as of September 30, 2016.

 

In December 2017, the investment general partner transferred its interest in Fair Oaks Lane Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,279,482 and cash proceeds to the investment partnership of $44,000. Of the total proceeds received, $2,000 will bewas paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $42,000 were returned to cash reserves held by Series 20. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $42,000 as of December 31, 2017.

 

In April 2018, the investment general partner of Boston Capital Tax Credit Fund III - Series 18 and Series 20 transferred their respective interests in Virginia Avenue Affordable Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $499,989 and cash proceeds to the investment partnerships of $823,080 and $156,777 for Series 18 and Series 20, respectively. Of the total proceeds received, $7,560 and $1,440, for Series 18 and Series 20, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $815,520 and $155,337, for Series 18 and Series 20, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership, net of the overhead and expense reimbursement, has been recorded in the amount of $815,520 and $155,337, for Series 18 and Series 20, respectively, as of June 30, 2018.

In December 2018, the investment general partner transferred its interest in Concordia Housing Associates I, Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $1,299,239 and cash proceeds to the investment partnership of $44,000. Of the total proceeds received, $2,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $42,000 were returned to cash reserves held by Series 20. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $42,000 as of December 31, 2018.

Series 21

As of December 31, 2016,2017, the average Qualified Occupancy for the series was 100%.The series did not have any properties as of December 31, 2017.2018.

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 21 reflects a net loss from Operating Partnerships of $- and $(797)$-, respectively, which includes depreciation and amortization of $- and $62,275,$-, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In November 2017, the investment general partner transferred its interest in Better Homes of Havelock Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,591,112 and cash proceeds to the investment partnership of $60,000. Of the total proceeds received, $2,500 will bewas paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $57,500 were returned to cash reserves held by Series 21. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $57,500 as of December 31, 2017.

 

In December 2017, the investment general partner transferred its interest in Liveoak Village Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $672,305 and cash proceeds to the investment partnership of $12,000. Of the total proceeds received, $2,500 will bewas paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $9,500 were returned to cash reserves held by Series 21. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $9,500 as of December 31, 2017.

 

Series 22

As of December 31, 2017, and 2016, the average Qualified Occupancy for the series was 100%.The series had a totaldid not have any properties as of 3 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.2018.

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 22 reflects a net loss from Operating Partnerships of $(52,888)$- and $(48,562)$(52,888), respectively, which includes depreciation and amortization of $103,504$- and $84,013, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

Series 23

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 3 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 23 reflects a net loss from Operating Partnerships of $(16,053) and $(276,373), respectively, which includes depreciation and amortization of $67,348 and $468,885,$103,504, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In June 2016,December 2018, the investment general partner of Boston Capital Tax Credit Fund III - Series 16 and Series 23partners transferred their respective interests in Mid CityConcordia Housing Associates II, Limited Partnership to ana non-affiliated entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $4,890,361$1,335,237 and cash proceeds to the investment partnerships of $124,955$20,000 and $4,545,$20,000 for Series 1622 and Series 23, respectively. Of the total proceeds received, $27,340$1,000 and $995,$1,000 for Series 1622 and Series 23, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $97,615$19,000 and $3,550,$19,000 for Series 1622 and Series 23, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership, net of the overhead and expense reimbursement, has been recorded in the amount of $97,615 and $3,550, for Series 16 and Series 23, respectively, as of June 30, 2016.

In March 2017, the investment general partner transferred its interest in Colonna Redevelopment Company to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $375,000 and cash proceeds to the investment partnership of $500,000. Of the total proceeds received, $15,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $485,000 were returned to cash reserves held by Series 23. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $485,000$19,000 and $19,000 for Series 22 and Series 23, respectively, as of MarchDecember 31, 2017.2018.

In December 2018, the investment general partners transferred their respective interests in Concordia Housing Associates III, Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $1,320,530 and cash proceeds to the investment partnerships of $20,000 and $20,000 for Series 22 and Series 23, respectively. Of the total proceeds received, $1,000 and $1,000 for Series 22 and Series 23, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $19,000 and $19,000 for Series 22 and Series 23, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $19,000 and $19,000 for Series 22 and Series 23, respectively, as of December 31, 2018.

In December 2018, the investment general partner transferred its interest in Drakes Branch Elderly Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,121,427 and cash proceeds to the investment partnership of $320. Of the total proceeds received, $320 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. There were no remaining proceeds to be returned to cash reserves held by Series 22. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the transfer of the Operating Partnership of the proceeds from the transfer has been recorded as of December 31, 2018.

Series 23

As of December 31, 2017, the average Qualified Occupancy for the series was 100%.The series did not have any properties as of December 31, 2018.

For the nine month periods ended December 31, 2018 and 2017, Series 23 reflects a net loss from Operating Partnerships of $- and $(16,053), respectively, which includes depreciation and amortization of $- and $67,348, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In January 2017, the operating general partner of Sacramento SRO Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on April 21, 2017. The sales price of the property was $3,800,000, which included the outstanding mortgage balance of approximately $2,701,113 and cash proceeds to the investment partnership of $964,665. Of the total proceeds received by the investment partnership, $5,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $959,665 were returned to cash reserves held by Series 23. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $959,665 as of June 30, 2017. In October 2017, the investment partnership received additional proceeds equal to its share of the Operating Partnership's cash in the amount of $30,297 which was returned to the cash reserves.

In December 2018, the investment general partners transferred their respective interests in Concordia Housing Associates II, Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $1,335,237 and cash proceeds to the investment partnerships of $20,000 and $20,000 for Series 22 and Series 23, respectively. Of the total proceeds received, $1,000 and $1,000 for Series 22 and Series 23, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $19,000 and $19,000 for Series 22 and Series 23, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $19,000 and $19,000 for Series 22 and Series 23, respectively, as of December 31, 2018.

In December 2018, the investment general partners transferred their respective interests in Concordia Housing Associates III, Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $1,320,530 and cash proceeds to the investment partnerships of $20,000 and $20,000 for Series 22 and Series 23, respectively. Of the total proceeds received, $1,000 and $1,000 for Series 22 and Series 23, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $19,000 and $19,000 for Series 22 and Series 23, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $19,000 and $19,000 for Series 22 and Series 23, respectively, as of December 31, 2018.

In December 2018, the investment general partner transferred its interest in Ithaca I Limited Partnership I to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $413,732 and cash proceeds to the investment partnership of $8,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $5,500 were returned to cash reserves held by Series 23. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $5,500 as of December 31, 2018.

 

Series 24

As of December 31, 20172018 and 2016,2017, the average Qualified Occupancy for the series was 100%. The series had a total of 64 properties at December 31, 2017,2018, all of which were at 100% Qualified Occupancy.

 

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 24 reflects a net loss from Operating Partnerships of $(114,786)$(85,578) and $(95,040)$(114,786), respectively, which includes depreciation and amortization of $211,044$178,656 and $205,010,$211,044, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In March 2018, the operating general partner of Woodland Associates Limited Partnership sold the property to an entity affiliated with the operating general partner. The sales price of the property was $1,295,876, which included the outstanding mortgage balance of approximately $1,038,276 and cash proceeds to the investment partnership of $100,000. Of the total proceeds received by the investment partnership, $5,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $95,000 will be returned to cash reserves held by Series 24. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $95,000 as of March 31, 2018.

In December 2018, the investment general partners transferred their respective interests in Northfield Housing, Limited Partnership to entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $34,341 and cash proceeds to the investment partnerships of $26,678 and $13,322 for Series 24 and Series 42, respectively. Of the total proceeds received, $3,000 and $1,500 for Series 24 and Series 42, respectively, will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $23,678 and $11,822 for Series 24 and Series 42, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $23,678 and $11,822 for Series 24 and Series 42, respectively, as of December 31, 2018.

Series 25

As of December 31, 2016,2017, the average Qualified Occupancy for the series was 100%.The series did not have any properties as of December 31, 2017.2018.


For the nine month periods ended December 31, 2018 and 2017, and 2016, Series 2521 reflects a net loss from Operating Partnerships of $- and $(26,970)$-, respectively, which includes depreciation and amortization of $- and $121,323,$-, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In September 2017, the investment general partner transferred its interest in Ethel Housing, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $736,238 and cash proceeds to the investment partnership of $21,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $19,500 were returned to cash reserves held by Series 25. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $19,500 as of September 30,December 31, 2017.

 

In August 2017, the investment general partner transferred its interest in Horse Cave Family Apartments to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $753,559 and cash proceeds to the investment partnership of $12,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $9,500 were returned to cash reserves held by Series 25. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $9,500 as of September 30,December 31, 2017.

 

In September 2017, the investment general partner transferred its interest in Shannon Housing, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,157,526 and cash proceeds to the investment partnership of $36,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $34,500 were returned to cash reserves held by Series 25. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $34,500 as of September 30,December 31, 2017.

 

In September 2017, the investment general partner transferred its interest in West Point Housing, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $638,133 and cash proceeds to the investment partnership of $35,311. Of the total proceeds received, $1,412 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $33,899 were returned to cash reserves held by Series 25. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $33,899 as of September 30,December 31, 2017.

 

Series 26

As of December 31, 20172018 and 2016,2017, the average Qualified Occupancy for the series was 100%. The series had a total of 98 properties at December 31, 2017,2018, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 26 reflects a net loss from Operating Partnerships of $(348,980)$(238,345) and $(432,310)$(348,980), respectively, which includes depreciation and amortization of $321,930$233,109 and $432,391,$321,930, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In July 2016, the investment general partner transferred its interest in Holly Hills Properties, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $794,392 and cash proceeds to the investment partnership of $22,500. Of the total proceeds received, $4,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $18,500 were returned to cash reserves held by Series 26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $18,500 as of September 30, 2016.

 

In September 2017, the investment general partner transferred its interest in Mason Housing, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $849,683 and cash proceeds to the investment partnership of $18,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $16,500 were returned to cash reserves held by Series 26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $16,500 as of September 30,December 31, 2017.

 

In September 2017, the investment general partner transferred its interest in Maxton Green Associates Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $802,661 and cash proceeds to the investment partnership of $16,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $14,500 were returned to cash reserves held by Series 26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $14,500 as of September 30,December 31, 2017.

 

In September 2017, the investment general partner transferred its interest in Meridian Housing Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $651,291 and cash proceeds to the investment partnership of $36,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $34,500 were returned to cash reserves held by Series 26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $34,500 as of September 30,December 31, 2017.

 

In September 2017, the investment general partner transferred its interest in Timmonsville Green Associates Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $970,535 and cash proceeds to the investment partnership of $16,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $14,500 were returned to cash reserves held by Series 26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $14,500 as of September 30,December 31, 2017.

 

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

Beckwood Manor One Limited Partnership

Southwind Apartments, A L.D.H.A.

T.R. Bobb Apartments Partnership, A L.D.H.A.

Brookhaven Apartments Partnership, A LP

Beauregard Apartments Partnership, A L.D.H.A.

Warrensburg Heights L.P.

Series 27

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 3 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 27 reflects a net loss from Operating Partnerships of $(83,576) and $(157,552), respectively, which includes depreciation and amortization of $165,370 and $455,020, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In February 2016, the operating general partner of Centrum - Fairfax II LP entered into an agreement to sell the property to an entity affiliated with the operating general partner and the transaction closed on June 20, 2016. The sales price of the property was $9,550,000, which included the outstanding mortgage balance of approximately $4,907,553 and cash proceeds to the investment partnership of $3,000,000. Of the total proceeds received by the investment partnership, $5,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $2,995,000 will be returned to cash reserves held by Series 27. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $2,995,000 as of June 30, 2016.

In July 2016,2018, the investment general partner transferred its interest in Sunday SunBeckwood Manor One Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $794,703$831,636 and cash proceeds to the investment partnership of $25,000.$14,000. Of the total proceeds received, $4,000$3,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $21,000$10,500 were returned to cash reserves held by Series 27.26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $21,000$10,500 as of SeptemberJune 30, 2016.2018.

 

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

Southwind Apartments, A L.D.H.A.

T.R. Bobb Apartments Partnership, A L.D.H.A.

Brookhaven Apartments Partnership, A LP

Beauregard Apartments Partnership, A L.D.H.A.

Warrensburg Heights L.P.

Series 27

As of December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 3 properties at December 31, 2018, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2018 and 2017, Series 27 reflects a net loss from Operating Partnerships of $(66,158) and $(83,576), respectively, which includes depreciation and amortization of $133,387 and $165,370, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In October 2016, the investment general partner transferred 50% of its interest in Canisteo Manor, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $438,188 and nominal cash proceeds to the investment partnership. There were no cash proceeds available to pay expenses related to the transfer and no proceeds were returned to cash reserves held by Series 27. The remaining 50% investment limited partner interest in the Operating Partnership was transferred in November 2017 for the assumption of approximately $438,188 of the remaining outstanding mortgage balance and nominal consideration. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the transfer of the Operating Partnership has been recorded.

 

In December 2016, the operating general partner of Wayne Housing Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on April 27, 2017. The sales price of the property was $12,800,000, which included the outstanding mortgage balance of approximately $5,844,046 and cash proceeds to the investment partnership of $3,291,567 which were returned to cash reserves held by Series 27. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $3,291,567 as of June 30, 2017.

 

The investment general partner will continue to monitor the following Operating Partnership because of operational or other issues. However, this Operating Partnership has exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

 

Angelou Court

 

Series 28

As of December 31, 20172018 and 2016,2017, the average Qualified Occupancy for the series was 100%. The series had a total of 54 properties at December 31, 2017,2018, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 28 reflects a net loss from Operating Partnerships of $(108,817)$(98,184) and $(190,746)$(108,817), respectively, which includes depreciation and amortization of $169,333$137,643 and $173,079,$169,333, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In June 2016,2018, the investment general partner transferred its interest in Senior Suites Chicago AustinEvergreen Three Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $3,875,732$749,754 and cash proceeds to the investment partnership of $10,000.$12,000. Of the total proceeds received, $5,000$3,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $5,000$8,500 were returned to cash reserves held by Series 28. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $5,000$8,500 as of June 30, 2016.2018.

 

The investment general partner will continue to monitor the following Operating Partnership because of operational or other issues. However, this Operating Partnership has all exited theirits LIHTC compliance period and there is therefore no risk to past credit delivery.

 

Maplewood Apartments Partnership, A LA Partnership

 

Series 29

As of December 31, 20172018 and 2016,2017, the average Qualified Occupancy for the series was 100%. The series had a total of 85 properties at December 31, 2017,2018, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 29 reflects a net loss from Operating Partnerships of $(395,641)$(161,623) and $(295,769)$(395,641), respectively, which includes depreciation and amortization of $371,636$162,256 and $367,084,$371,636, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In November 2017, the operating general partner of Harbor Pointe/MHT LDHA Limited Partnership entered into an agreement to sell the property a non-affiliated entity and the transaction closed on February 6, 2018. The sales price of the property was $1,900,000, which included the outstanding mortgage balance of approximately $1,129,405 and cash proceeds to the investment partnerships of $300,283 and $108,265 for Series 29 and Series 33, respectively. Of the total proceeds received by the investment partnerships, $3,675 and $1,325 for Series 29 and Series 33, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $296,608 and $106,940 for Series 29 and Series 33, respectively, will be returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $296,608 and $106,940 for Series 29 and Series 33, respectively as of March 31, 2018. In addition, equity outstanding for the Operating Partnership in the amount of $7,350 and $2,650 for Series 29 and Series 33, respectively, was recorded as gain on the sale of the Operating Partnership as of March 31, 2018.

In June 2018, the investment general partner transferred its interest in Edgewood Apartments Partnership, A Louisiana Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,914,574 and cash proceeds to the investment partnership of $108,000. Of the total proceeds received, $5,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $102,500 were returned to cash reserves held by Series 29. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $102,500 as of June 30, 2018.

In June 2018, the investment general partner transferred its interest in Emerald Trace Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,591,041 and cash proceeds to the investment partnership of $25,494. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $20,494 were returned to cash reserves held by Series 29. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $20,494 as of June 30, 2018. In addition, equity outstanding for the Operating Partnership in the amount of $100 for Series 29 was recorded as gain on the transfer of the Operating Partnership as of June 30, 2018.

 

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

 

Edgewood Apartments Partnership, A Louisiana Partnership

Westfield Apartments Partnership, A Louisiana Partnership

Harbor Pointe/MHT LDHA

The Lincoln Hotel

Poplarville Housing Inc.

 

Series 30

As of December 31, 2017, and 2016, the average Qualified Occupancy for the series was 100%.The series had a totaldid not have any properties as of 6 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.2018.

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 30 reflects a net loss from Operating Partnerships of $(103,181)$- and $(158,143)$(103,181), respectively, which includes depreciation and amortization of $217,874$- and $303,986,$217,874, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In September 2018, the investment general partner transferred its interest in JMC Limited Liability Company to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $885,168 and cash proceeds to the investment partnership of $7,500. Of the total proceeds received, $6,500 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $1,000 were returned to cash reserves held by Series 30. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $1,000 as of December 31, 2018. In addition, equity outstanding for the Operating Partnership in the amount of $16,549 for Series 30 was recorded as gain on the transfer of the Operating Partnership as of December 31, 2018.

 

In February 2017, the operating general partner of Linden Partners II, LLC entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on April 28, 2017. The sales price of the property was $1,125,000, which included the outstanding mortgage balance of approximately $681,507 and cash proceeds to the investment partnership of $192,168. Of the total proceeds received by the investment partnership, $40,738 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the sale. Of the remaining proceeds, $3,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $148,430 were returned to cash reserves held by Series 30. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $148,430 as of June 30, 2017. In July 2017, the investment partnership received additional proceeds equal to its share of the Operating Partnership's cash in the amount of $2,091 which was returned to the cash reserves.

 

In June 2017, the investment general partner transferred its interest in C.V.V.A. Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $1,432,770 and cash proceeds to the investment partnership of $78,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $75,500 were returned to cash reserves held by Series 30. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. The transfer proceeds were not received as of June 30, 2017, so a receivable in the amount of $75,500 was recorded. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $75,500 as of June 30, 2017. In addition, equity outstanding for the Operating Partnership in the amount of $39,963 for Series 30 was recorded as gain on the transfer of the Operating Partnership as of June 30, 2017.

 

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

Bellwood Four Limited Partnership

JMC Limited Liability Company

Series 31

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 8 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 31 reflects a net loss from Operating Partnerships of $(340,535) and $(283,126), respectively, which includes depreciation and amortization of $385,046 and $707,858, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In December 2016,March 2018, the investment general partner transferred its interest in Eagles Ridge TerraceBellwood Four Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,391,732$578,951 and cash proceeds to the investment partnership of $72,000.$14,000. Of the total proceeds received, $2,500$3,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $69,500$10,500 were returned to cash reserves held by Series 31.30. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $69,500$10,500 as of DecemberMarch 31, 2016.2018.

 

In December 2016,June 2018, the investment general partner transferred its interest in Henderson Terrace ApartmentsEmerald Trace II Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $399,366$206,800 and cash proceeds to the investment partnership of $19,200.$24,506. Of the total proceeds received, $2,500$5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $16,700$19,506 were returned to cash reserves held by Series 31.30. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $16,700$19,506 as of December 31, 2016.June 30, 2018.

 

In December 2016,June 2018, the investment general partner transferred its interest in Lakeview Little ElmPyramid One, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $340,752$500,927 and cash proceeds to the investment partnership of $19,200.$10,000. Of the total proceeds received, $2,500$5,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $16,700$4,500 were returned to cash reserves held by Series 31.30. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $16,700$4,500 as of December 31, 2016.June 30, 2018.

 

In December 2016,2018, the investment general partner transferred its interest in Mesquite Trails ApartmentsJeffries Associates Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $523,176$1,313,353 and cash proceeds to the investment partnership of $28,800.$60,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $26,300$57,500 were returned to cash reserves held by Series 31.30. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $26,300$57,500 as of December 31, 2016.2018.

 

In December 2016,2018, the investment general partner transferred its interest in Pilot Point Apartments,K.G.V.A. Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $587,525$1,695,038 and cash proceeds to the investment partnership of $32,000.$50,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $29,500$47,500 were returned to cash reserves held by Series 31.30. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $29,500$47,500 as of December 31, 2016.

2018. In December 2016, the investment general partner transferred its interest in Seagraves Apartments, Limited Partnership to an entity affiliated with the operating general partneraddition, equity outstanding for its assumption of the outstanding mortgage balance of approximately $354,789 and cash proceeds to the investment partnership of $12,800. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $10,300 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity methodamount of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a$48,627 for Series 30 was recorded as gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $10,300 as of December 31, 2016.2018.

 

In November 2016, the investment general partner transferred its interest in Silver Creek Apartments/MHT, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $3,332,447 and cash proceeds to the investment partnership of $627,947. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $622,947 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. The transfer proceeds were received in the first quarter of 2017; so a receivable in the amount of $622,947 was recorded as31

As of December 31, 2016. Accordingly,2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a gain ontotal of 1 property at December 31, 2018, of which was at 100% Qualified Occupancy.

For the transfernine month periods ended December 31, 2018 and 2017, Series 31 reflects a net loss from Operating Partnerships of $(47,829) and $(340,535), respectively, which includes depreciation and amortization of $104,349 and $385,046, respectively. This is an interim period estimate; it is not indicative of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $622,947 as of December 31, 2016. In March 2017, the investment partnership received additional proceeds for its share of the Operating Partnership's cash in the amount of $85,464, which were returned to the cash reserves held by the Series.final year-end results.

 

In September 2017, the investment general partner transferred its interest in Ellisville Housing, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $508,068 and cash proceeds to the investment partnership of $24,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $22,500 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $22,500 as of September 30,December 31, 2017.

 

In September 2017, the investment general partner transferred its interest in Hattiesburg Housing, Inc. to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $773,195 and cash proceeds to the investment partnership of $24,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $22,500 were returned to cash reserves held by Series 31.The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $22,500 as of September 30, 2017.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

Canton Housing One, L.P.

Canton Housing Two, L.P.

Canton Housing Three, L.P.

Canton Housing Four, L.P.

Series 32

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 6 properties at December 31, 2017, all of which were at 100% Qualified Occupancy

For the nine month periods ended December 31, 2017 and 2016, Series 32 reflects a net loss from Operating Partnerships of $(376,982) and $(432,493), respectively, which includes depreciation and amortization of $455,816 and $779,977, respectively. This is an interim period estimate; it is not indicative of the final year-end results.2017.

 

In December 2016,June 2018, the investment general partner transferred its interest in Indiana Development Limited PartnershipHeritage One to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,129,504$814,632 and cash proceeds to the investment partnership of $47,500.$11,000. Of the total proceeds received, $2,500$3,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $45,000$7,500 were returned to cash reserves held by Series 32.31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $45,000$7,500 as of December 31, 2016.June 30, 2018.

 

In December 2016,July 2018, the investment general partner transferred its interest in Granada Rose, Limited Partnership, a TexasN.M.V.A. Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $124,650$781,448 and cash proceeds to the investment partnership of $6,400.$42,000. Of the total proceeds received, $2,500 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $39,500 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $39,500 as of December 31, 2018. In addition, equity outstanding for the Operating Partnership in the amount of $22,452 for Series 31 was recorded as gain on the transfer of the Operating Partnership as of December 31, 2018.

In December 2018, the investment general partner transferred its interest in Canton Housing One Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,985,952 and nominal cash proceeds to the investment partnership. There were no cash proceeds available to pay expenses related to the transfer and no proceeds were returned to cash reserves held by Series 31. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the transfer of the Operating Partnership of the proceeds from the transferhas been recorded as of December 31, 2018.

In December 2018, the investment general partner transferred its interest in Canton Housing Two Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $954,499 and nominal cash proceeds to the investment partnership. There were no cash proceeds available to pay expenses related to the transfer and no proceeds were returned to cash reserves held by Series 31. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the transfer of the Operating Partnership of the proceeds from the transferhas been recorded as of December 31, 2018.

In December 2018, the investment general partner transferred its interest in Canton Housing Three Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $735,823 and nominal cash proceeds to the investment partnership. There were no cash proceeds available to pay expenses related to the transfer and no proceeds were returned to cash reserves held by Series 31. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the transfer of the Operating Partnership of the proceeds from the transferhas been recorded as of December 31, 2018.

In December 2018, the investment general partner transferred its interest in Canton Housing Four Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $676,092 and nominal cash proceeds to the investment partnership. There were no cash proceeds available to pay expenses related to the transfer and no proceeds were returned to cash reserves held by Series 31. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the transfer of the Operating Partnership of the proceeds from the transferhas been recorded as of December 31, 2018.

In December 2018, the investment general partner transferred its interest in G.A.V.A. Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $657,592 and cash proceeds to the investment partnership of $20,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $3,900$17,500 were returned to cash reserves held by Series 32.31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $3,900$17,500 as of December 31, 2016.2018. In addition, equity outstanding for the Operating Partnership in the amount of $18,842 for Series 30 was recorded as gain on the transfer of the Operating Partnership as of December 31, 2018.

Series 32

As of December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 5 properties at December 31, 2018, all of which were at 100% Qualified Occupancy

For the nine month periods ended December 31, 2018 and 2017, Series 32 reflects a net loss from Operating Partnerships of $(310,404) and $(376,982), respectively, which includes depreciation and amortization of $328,747 and $455,816, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In November 2016, the operating general partner of Cogic Village LDHA Limited Partnership entered into an agreement to sell the property to an unrelated third party buyer and the transaction closed on February 8, 2017. The sales price of the property was $3,275,000, which included the outstanding mortgage balance of approximately $1,991,521, and cash proceeds to the investment partnership of $522,652. Of the total proceeds received by the investment partnership, $2,000 will bewas paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $520,652 were returned to cash reserves held by Series 32. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $520,652 as of March 31, 2017. In June 2017, the investment partnership received additional proceeds equal to its share of the Operating Partnership's cash in the amount of $14,506 which was returned to the cash reserves.

 

In July 2017, the operating general partner of Courtside Housing Associates, Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on September 12, 2017. The sales price of the property was $3,625,000, which included the outstanding mortgage balance of approximately $600,000 and cash proceeds to the investment partnership of $1,536,999. Of the total proceeds received by the investment partnership, $3,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $1,533,999 were returned to cash reserves held by Series 32. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $1,533,999 as of September 30,December 31, 2017.

 

In August 2015, the operating general partner of Pearl Partners, Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on October 1, 2015. In December 2017, the investment partnership received additional proceeds equal to its share of the Operating Partnership's cash in the amount of $128,747 which was returned to the cash reserves.

In January 2018, the operating general partner of Pyramid Four Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on May 17, 2018. The sales price of the property was $1,536,000, which included the outstanding mortgage balance of approximately $388,399 and cash proceeds to the investment partnership of $492,880. Of the total proceeds received by the investment partnership, $5,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $487,880 will be returned to cash reserves held by Series 32. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $487,880 as of June 30, 2018.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

 

Pecan Manor Apartments

Parkside Plaza, LLP

 

Series 33

As of December 31, 20172018 and 2016,2017, the average Qualified Occupancy for the series was 100%. The series had a total of 43 properties at December 31, 2017,2018, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 33 reflects a net loss from Operating Partnerships of $(147,866)$(76,388) and $(170,166)$(147,866), respectively, which includes depreciation and amortization of $260,563$209,302 and $284,822,$260,563, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In October 2017, the investment general partner transferred their respective interests in Stearns Assisted Housing Associates to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $435,500 and cash proceeds to the investment partnerships of $1,583 and $3,295 for Series 33 and Series 37, respectively. Of the total proceeds received, $633 and $1,318 for Series 33 and Series 37, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $950 and $1,977 for Series 33 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $950 and $1,977 for Series 33 and Series 37, respectively, as of December 31, 2017.

The investment general partner will continue to monitor the following Operating Partnership because of operational or other issues. However, this Operating Partnership has exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

Harbor Pointe/MHT LDHA

Series 34

As of December 31, 2017 and 2016, the average Qualified Occupancy In addition, equity outstanding for the series was 100%. The series had a total of 4 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 34 reflects a net loss from Operating Partnerships of $(95,701) and $(220,090), respectively, which includes depreciation and amortization of $206,720 and $283,865, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In May 2016, the investment general partner transferred its interest in Northwood Homes, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $500,053 and cash proceeds to the investment partnership of $32,000. Of the total proceeds received, $4,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $27,500 were returned to cash reserves held by Series 34. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity methodamount of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a$66,504 and $138,438 for Series 33 and Series 37, respectively, was recorded as gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $27,500 as of June 30, 2016.

In July 2016, the investment general partner transferred its interest in Kerrville Meadows Apartments, Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $1,144,914 and cash proceeds to the investment partnership of $225,000. Of the total proceeds received, $10,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $215,000 were returned to cash reserves held by Series 34. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $215,000 as of September 30, 2016.

In December 2016, the investment general partner transferred their respective interests in Washington Courtyards Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,958,317 and cash proceeds to the investment partnerships of $394,536 and $165,090 for Series 34 and Series 35, respectively. Of the total proceeds received, $2,115 and $885 for Series 34 and Series 35, respectively, represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $4,230 and $1,770 for Series 34 and Series 35, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $388,191 and $162,435 for Series 34 and Series 35, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $388,191 and $162,435 for Series 34 and Series 35, respectively, as of December 31, 2016.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

RHP 96-I, L.P.

Belmont Affordable Housing II, LP

Series 35

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 2 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 35 reflects a net loss from Operating Partnerships of $(23,237) and $(245,625), respectively, which includes depreciation and amortization of $254,427 and $602,766, respectively. This is an interim period estimate; it is not indicative of the final year-end results.2017.

 

In March 2016,November 2017, the operating general partner of Wedgewood ParkHarbor Pointe/MHT LDHA Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on June 14, 2016.February 6, 2018. The sales price of the property was $13,900,000,$1,900,000, which included the outstanding mortgage balance of approximately $4,364,386$1,129,405 and cash proceeds to the investment partnerships of $2,333,553$300,283 and $2,333,553$108,265 for Series 3529 and Series 36,33, respectively. Of the total proceeds received by the investment partnerships, $37,500$3,675 and $37,500$1,325 for Series 3529 and Series 36, respectively, represents reporting fees due to an affiliate of the investment partnerships and the balance represents proceeds from the sale. Of the remaining proceeds, $1,250 and $1,250 for Series 35 and Series 36,33, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $2,294,803$296,608 and $2,294,803$106,940 for Series 3529 and Series 36,33, respectively, werewill be returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $2,294,803$296,608 and $2,294,803$106,940 for Series 3529 and Series 36,33, respectively as of June 30, 2016.March 31, 2018. In September 2016, the investment partnership received additional proceedsaddition, equity outstanding for its share of the Operating Partnership's cashPartnership in the amount of $85,949$7,350 and $85,949$2,650 for Series 3529 and Series 36, respectively, which were returned to the cash reserves held by the Series. In January 2017, the investment partnership received additional proceeds for its share of the Operating Partnership's cash in the amount of $12,121 and $12,121 for Series 35 and Series 36, respectively, which were returned to the cash reserves held by the Series.

In December 2016, the investment general partner transferred their respective interests in Washington Courtyards Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,958,317 and cash proceeds to the investment partnerships of $394,536 and $165,090 for Series 34 and Series 35, respectively. Of the total proceeds received, $2,115 and $885 for Series 34 and Series 35, respectively, represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $4,230 and $1,770 for Series 34 and Series 35,33, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $388,191 and $162,435 for Series 34 and Series 35, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $388,191 and $162,435 for Series 34 and Series 35, respectively, as of December 31, 2016.

In November 2016, the operating general partner of Columbia Woods, Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on February 6, 2017. The sales price of the property was $7,450,000, which included the outstanding mortgage balance of approximately $3,865,108 and cash proceeds to the investment partnerships of $168,307 and $422,243 for Series 35 and Series 37, respectively. Of the total proceeds received by the investment partnerships, $2,850 and $7,150 for Series 35 and Series 37, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $165,457 and $415,093 for Series 35 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $165,457 and $415,093 for Series 35 and Series 37, respectively, as of March 31, 2017.2018.

Series 34

As of December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 4 properties at December 31, 2018, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2018 and 2017, Series 34 reflects a net loss from Operating Partnerships of $(68,669) and $(95,701), respectively, which includes depreciation and amortization of $205,643 and $206,720, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

RHP 96-I, L.P.

Belmont Affordable Housing II, LP

Series 35

As of December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 2 properties at December 31, 2018, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2018 and 2017, Series 35 reflects a net loss from Operating Partnerships of $(22,409) and $(23,237), respectively, which includes depreciation and amortization of $241,734 and $254,427, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In September 2017, the investment general partner transferred its interest in Cypress Point Housing Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,480,787 and cash proceeds to the investment partnership of $2,656,528. Of the total proceeds received, $3,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $2,653,528 were returned to cash reserves held by Series 35. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $2,653,528 as of September 30,December 31, 2017.

 

Series 36

As of December 31, 20172018 and 2016,2017, the average Qualified Occupancy for the series was 100%. The series had a total of 32 properties at December 31, 2017,2018, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 36 reflects a net loss from Operating Partnerships of $(98,904)$(56,064) and $(113,395)$(98,904), respectively, which includes depreciation and amortization of $126,835$83,885 and $146,670,$126,835, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In May 2016, the investment general partner transferred its interest in Paris Place Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,065,498 and cash proceeds to the investment partnership of $80,000. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $75,000 were returned to cash reserves held by Series 36. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $75,000 as of June 30, 2016.

In May 2016, the investment general partner transferred its interest in Valleyview Estates, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $259,710 and cash proceeds to the investment partnership of $50,000. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $45,000 were returned to cash reserves held by Series 36. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $45,000 as of June 30, 2016.

In March 2016,December 2017, the operating general partner of Wedgewood ParkAshton Ridge L.D.H.A., Limited Partnership entered into an agreement to sell the property to a non-affiliatedan entity affiliated with the operating general partner and the transaction closed on June 14, 2016.July 31, 2018. The sales price of the property was $13,900,000,$4,780,000, which included the outstanding mortgage balance of approximately $4,364,386 and$2,200,645. In addition, to cash proceeds from the sale, the operating/cash reserves/escrows of $212,517 were distributed after the sale. Cash proceeds from the sale returned to the investment partnerships of $2,333,553$244,787 and $2,333,553$1,027,525, for Series 3536 and Series 36,37, respectively. Of the total proceeds received by the investment partnerships, $37,500$1,624 and $37,500$6,876 for Series 3536 and Series 36, respectively, represents reporting fees due to an affiliate of the investment partnerships and the balance represents proceeds from the sale. Of the remaining proceeds, $1,250 and $1,250 for Series 35 and Series 36,37, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $2,294,803$243,163 and $2,294,803 for Series 35 and Series 36, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $2,294,803 and $2,294,803 for Series 35 and Series 36, respectively, as of June 30, 2016. In September 2016, the investment partnership received additional proceeds for its share of the Operating Partnership's cash in the amount of $85,949 and $85,949 for Series 35 and Series 36, respectively, which were returned to the cash reserves held by the Series. In January 2017, the investment partnership received additional proceeds for its share of the Operating Partnership's cash in the amount of $12,121 and $12,121 for Series 35 and Series 36, respectively, which were returned to the cash reserves held by the Series.

In June 2016, the investment general partner of Series 36 and Series 37 transferred their respective interests in Senior Suites Chicago Washington Heights Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $4,321,470 and cash proceeds to the investment partnerships of $5,000 and $5,000 for Series 36 and Series 37, respectively. Of the total proceeds received, $2,500 and $2,500 for Series 36 and Series 37, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $2,500 and $2,500$1,020,649 for Series 36 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfersale of the Operating Partnership of the proceeds from the transfer,sale, net of the overhead and expense reimbursement, has been recorded in the amount of $2,500$243,163 and $2,500$1,020,649 for Series 36 and Series 37, respectively, as of June 30, 2016.December 31, 2018. In November 2018, the investment partnerships received additional proceeds equal to its share of the final reconciliation of the Operating Partnership's cash in the amounts of $9,941 and $41,726, which was returned to the cash reserves of Series 36 and Series 37, respectively.

The investment general partner will continue to monitor the following Operating PartnershipsPartnership because of operational or other issues. However, thesethis Operating Partnerships have allPartnership has exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

 

Wingfield Apartments Limited Partnership

Ashton Ridge L.D.H.A., L.P.

 

Series 37

As of December 31, 2017, and 2016, the average Qualified Occupancy for the series was 100%.The series had a totaldid not have any properties as of 1 property at December 31, 2017, which was at 100% Qualified Occupancy.2018.

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 37 reflects a net loss from Operating Partnerships of $(88,845)$- and $(463,828)$(88,845), respectively, which includes depreciation and amortization of $197,321$- and $622,199,$197,321, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In December 2016,2017, the investmentoperating general partner transferred their respective interests in Baldwin Villasof Ashton Ridge L.D.H.A., Limited Partnership entered into an agreement to sell the property to an entity affiliated with the operating general partner for its assumptionand the transaction closed on July 31, 2018. The sales price of the property was $4,780,000, which included the outstanding mortgage balance of approximately $5,226,317 and no$2,200,645. In addition, to cash proceeds from the sale, the operating/cash reserves/escrows of $212,517 were distributed after the sale. Cash proceeds from the sale returned to the investment partnerships $244,787 and no cash proceeds returned to the cash reserves held by Series 37, Series 40 and Series 45, respectively. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the transfer of the Operating Partnership has been recorded as of December 31, 2016.

In June 2016, the investment general partner of Series 36 and Series 37 transferred their respective interests in Senior Suites Chicago Washington Heights Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $4,321,470 and cash proceeds to the investment partnerships of $5,000 and $5,000$1,027,525, for Series 36 and Series 37, respectively. Of the total proceeds received $2,500by the investment partnerships, $1,624 and $2,500$6,876 for Series 36 and Series 37, respectively, was paid to BCAMLP for expenses related to the transfer,sale, which include third party legal costs. The remaining proceeds from the sale of approximately $2,500$243,163 and $2,500$1,020,649 for Series 36 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $2,500 and $2,500 for Series 36 and Series 37, respectively, as of June 30, 2016.

In September 2016, the investment general partner transferred its interest in FAH Silver Pond Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $2,695,732 and cash proceeds to the investment partnership of $1,932,139. The proceeds of approximately $1,932,139 were returned to cash reserves held by Series 37. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer has been recorded in the amount of $1,932,139 as of September 30, 2016.

In November 2016, the operating general partner of Columbia Woods, Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on February 6, 2017. The sales price of the property was $7,450,000, which included the outstanding mortgage balance of approximately $3,865,108 and cash proceeds to the investment partnerships of $168,307 and $422,243 for Series 35 and Series 37, respectively. Of the total proceeds received by the investment partnerships, $2,850 and $7,150 for Series 35 and Series 37, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $165,457 and $415,093 for Series 35 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $165,457$243,163 and $415,093$1,020,649 for Series 3536 and Series 37, respectively, as of MarchDecember 31, 2017.2018. In November 2018, the investment partnerships received additional proceeds equal to its share of the final reconciliation of the Operating Partnership's cash in the amounts of $9,941 and $41,726, which was returned to the cash reserves of Series 36 and Series 37, respectively.

 

In October 2017, the investment general partner transferred their respective interests in Stearns Assisted Housing Associates to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $435,500 and cash proceeds to the investment partnerships of $1,583 and $3,295 for Series 33 and Series 37, respectively. Of the total proceeds received, $633 and $1,318 for Series 33 and Series 37, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $950 and $1,977 for Series 33 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $950 and $1,977 for Series 33 and Series 37, respectively, as of December 31, 2017.

The investment general partner will continue to monitor In addition, equity outstanding for the following Operating Partnership becausein the amount of operational or other issues. However, this$66,504 and $138,438 for Series 33 and Series 37, respectively, was recorded as gain on the transfer of the Operating Partnership has all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

Ashton Ridge L.D.H.A., L.P.as of December 31, 2017.

 

Series 38

As of December 31, 20172018 and 2016,2017, the average Qualified Occupancy for the series was 100%. The series had a total of 43 properties at December 31, 2017,2018, all of which were at 100% qualified occupancy.

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 38 reflects a net loss from Operating Partnerships of $(78,178)$(6,692) and $(204,413)$(78,178), respectively, which includes depreciation and amortization of $279,470$233,270 and $583,791,$279,470, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In November 2016, the operating general partner of Columbia Creek, Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on January 3, 2017. The sales price of the property was $12,700,000, which included the outstanding mortgage balance of approximately $4,897,221 and cash proceeds to the investment partnerships of $1,112,310 and $1,157,711 for Series 38 and Series 39, respectively. Of the total proceeds received by the investment partnerships, $4,900 and $5,100 for Series 38 and Series 39, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $1,107,410 and $1,152,611 for Series 38 and Series 39, respectively, were returned to cash reserves held by Series 38 and Series 39, respectively. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $1,107,410 and $1,152,611 for Series 38 and Series 39, respectively, as of March 31, 2017.

In June 2016, the operating general partner of Andover Housing Associates Limited Partnership entered into an agreement to sell the property to a non-affiliated third party buyer and the transaction closed on November 15, 2016. The sales price of the property was $4,402,000, which included the outstanding mortgage balance of approximately $2,136,141 and cash proceeds to the investment partnership of $1,790,410. Of the total proceeds received by the investment partnership, $2,500 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $1,787,910 was returned to cash reserves held by Series 38. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $1,787,910 as of December 31, 2016.

In December 2016,2018, the investment general partner transferred its interest in Edna Vanderbilt, LP, A TexasHeritage Two Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $216,530$823,454 and cash proceeds to the investment partnership of $9,600.$10,500. Of the total proceeds received, $2,500$3,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $7,100$7,000 were returned to cash reserves held by Series 38. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $7,100$7,000 as of December 31, 2016.June 30, 2018.

 

In October 2016, the operating general partner of Arbors at Eagle Crest LDHA LP entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on January 26, 2017. The sales price of the property was $3,700,000, which included the outstanding mortgage balance of approximately $2,078,128 and cash proceeds to the investment partnerships of $377,821 and $377,821 for Series 38 and Series 39, respectively. Of the total proceeds received by the investment partnerships, $6,543 and $6,543 for Series 38 and Series 39, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $371,278 and $371,278 for Series 38 and Series 39, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $371,278 and $371,278 for Series 38 and Series 39, respectively, as of March 31, 2017.

 

Series 39

As of December 31, 2016,2017, the average Qualified Occupancy for the series was 100%.The series did not have any properties as of December 31, 2017.2018.

For the nine month periods ended December 31, 2018 and 2017, and 2016, Series 3921 reflects a net loss from Operating Partnerships of $- and $(101,698)$-, respectively, which includes depreciation and amortization of $- and $243,036,$-, respectively. This is an interim period estimate; it is not indicative of the final year endyear-end results.

In November 2016, the operating general partner of Columbia Creek, Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on January 3, 2017. The sales price of the property was $12,700,000, which included the outstanding mortgage balance of approximately $4,897,221 and cash proceeds to the investment partnerships of $1,112,310 and $1,157,711 for Series 38 and Series 39, respectively. Of the total proceeds received by the investment partnerships, $4,900 and $5,100 for Series 38 and Series 39, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $1,107,410 and $1,152,611 for Series 38 and Series 39, respectively, were returned to cash reserves held by Series 38 and Series 39, respectively. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $1,107,410 and $1,152,611 for Series 38 and Series 39, respectively, as of March 31, 2017

In May 2016, the investment general partner transferred its interest in Hillview, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $771,823 and cash proceeds to the investment partnership of $25,500. Of the total proceeds received, $3,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $22,500 were returned to cash reserves held by Series 39. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $22,500 as of June 30, 2016.

In July 2016, the investment general partner transferred its interest in Daystar Village, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $634,353 and cash proceeds to the investment partnership of $75,000. Of the total proceeds received, $4,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $70,500 were returned to cash reserves held by Series 39. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $70,500 as of September 30, 2016.

In August 2016, the investment general partner transferred its interest in Tally Ho Apartments Partnership, A Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $479,836 and cash proceeds to the investment partnership of $22,100. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $17,100 were returned to cash reserves held by Series 39. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $17,100 as of September 30, 2016.

In July 2016, the investment general partner transferred its interest in Austin Acres, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $793,420 and cash proceeds to the investment partnership of $16,000. Of the total proceeds received, $4,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $12,000 were returned to cash reserves held by Series 39. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $12,000 as of September 30, 2016.

In October 2016, the operating general partner of Arbors at Eagle Crest LDHA LP entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on January 26, 2017. The sales price of the property was $3,700,000, which included the outstanding mortgage balance of approximately $2,078,128 and cash proceeds to the investment partnerships of $377,821 and $377,821 for Series 38 and Series 39, respectively. Of the total proceeds received by the investment partnerships, $6,543 and $6,543 for Series 38 and Series 39, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $371,278 and $371,278 for Series 38 and Series 39, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $371,278 and $371,278 for Series 38 and Series 39, respectively, as of March 31, 2017.

 

In December 2017, the investment general partner transferred its interest in Timber Trails I Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $717,617 and cash proceeds to the investment partnership of $22,779. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $17,779 were returned to cash reserves held by Series 39. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $17,779 as of December 31, 2017.

 

Series 40

As of December 31, 20172018 and 2016,2017, the average Qualified Occupancy for the series was 100%. The series had a total of 98 properties at December 31, 2017,2018, all of which at 100% Qualified Occupancy.

 

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 40 reflects a net loss from Operating Partnerships of $(501,422)$(267,374) and $(349,637)$(501,422), respectively, which includes depreciation and amortization of $493,185$378,996 and $610,754,$493,185, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In December 2016,September 2018, the investment general partner transferred their respective interestsits interest in Baldwin Villas Limited PartnershipMA No. 2 LLC to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $5,226,317 and no cash proceeds to the investment partnerships and no cash proceeds returned to the cash reserves held by Series 37, Series 40 and Series 45, respectively. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the transfer of the Operating Partnership has been recorded as of December 31, 2016.

In May 2016, the investment general partner transferred its interest in Londontown Homes, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $385,627$1,003,723 and cash proceeds to the investment partnership of $25,000.$50,000. Of the total proceeds received, $4,500 was$5,500 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $20,500$44,500 were returned to cash reserves held by Series 40. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $20,500$44,500 as of June 30, 2016.

In July 2016, the investment general partner transferred its interest in Southbrook Homes, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $333,131 and cash proceeds to the investment partnership of $32,500. Of the total proceeds received, $4,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $28,500 were returned to cash reserves held by Series 40. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $28,500 as of September 30, 2016.

In January 2017, the investment general partner transferred its interest in Azle Fountainhead, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $924,937 and cash proceeds to the investment partnership of $47,200. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $44,700 were returned to cash reserves held by Series 40. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $44,700 as of MarchDecember 31, 2017.2018.

 

In August 2017, the investment general partner transferred their respective interests in Springfield Metro, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $23,195,469 and cash proceeds to the investment partnerships of $589,289 and $720,242 for Series 40 and Series 41, respectively. Of the total proceeds received, $337 and $413 for Series 40 and Series 41, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $588,952 and $719,829 for Series 40 and Series 41, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $588,952 and $719,829 for Series 40 and Series 41, respectively, as of September 30,December 31, 2017.

In January 2019, the investment general partner transferred its interest in Sedgwick-Sundance Apartments, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,082,984 and cash proceeds to the investment partnership of $27,144. Of the total proceeds received, $9,500 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs and appraisal services. The remaining proceeds of approximately $17,644 were returned to cash reserves held by Series 40. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution.

 

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

 

MA No 2

Center Place Apartments II Limited Partnership

Oakland Partnership, A Louisiana Partnership

 

Series 41

As of December 31, 20172018 and 2016,2017, the average Qualified Occupancy for the series was 100%. The series had a total of 1411 properties at December 31, 2017,2018, all of which were at 100% Qualified Occupancy.

 

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 41 reflects a net loss from Operating Partnerships of $(464,495)$(154,848) and $(407,379)$(464,495), respectively, which includes depreciation and amortization of $893,311$577,130 and $1,017,190,$893,311, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In November 2017, the operating general partner of Harbor Pointe II/MHT LDHA Limited Partnership (Harbor Pointe II Apartments) isentered into an agreement to sell the property a 72-unit family property located in Benton Harbor, MI. The property continues to operate below breakeven. The investment general partner will continue to work with the operating general partnernon-affiliated entity and the management company to monitor and improve operations.transaction closed on February 6, 2018. The operating general partner's operating deficit guaranteed has expired. The 15-year low income housing tax credit compliance period will expire on December 31, 2017.

Harbor Pointe II/MHT LDHA Limited Partnership (Harbor Pointe II Apartments) is a 72-unit familysales price of the property located in Benton Harbor, MI. The property continues to operate below breakeven. The investment general partner will continue to work with the operating general partner and the management company to monitor and improve operations. The operating general partner's operating deficit guaranteed has expired. The 15-year low income housing tax credit compliance period expired on December 31, 2017.

In March 2017, the investment general partner transferred its interest in Sunshine Village Apartments, Limited to an entity affiliated with the operating general partner for its assumption ofwas $1,300,000, which included the outstanding mortgage balance of approximately $680,145$1,234,960 and nominal cash proceeds to the investment partnership of $75,000. Of the totalpartnerships Series 41, Series 42 and Series 45, respectively. There were no cash proceeds received, $4,500 was paidavailable to BCAMLP forpay expenses related to the transfer, which include third party legal costs. The remainingsale and no proceeds of approximately $70,500 were returned to cash reserves held by Series 41. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees,41, Series 42 and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution.Series 45, respectively. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, ano gain on the transfersale of the Operating Partnership was recorded for Series 41, Series 42 and Series 45, respectively, as of March 31, 2018. In addition, equity outstanding for the proceeds from the transfer, net of the overhead and expense reimbursement, has been recordedOperating Partnership in the amount of $70,500$100 for Series 41 was recorded as gain on the sale of the Operating Partnership as of March 31, 2017.2018.

 

In August 2017, the investment general partner transferred their respective interests in Springfield Metro, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $23,195,469 and cash proceeds to the investment partnerships of $589,289 and $720,242 for Series 40 and Series 41, respectively. Of the total proceeds received, $337 and $413 for Series 40 and Series 41, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $588,952 and $719,829 for Series 40 and Series 41, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $588,952 and $719,829 for Series 40 and Series 41, respectively, as of September 30,December 31, 2017.

 

In December 2017, the investment general partner transferred its interest in Bienville Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $677,463 and cash proceeds to the investment partnership of $18,179. Of the total proceeds received, $1,000 will bewas paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $17,179 were returned to cash reserves held by Series 41. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $17,179 as of December 31, 2017.

In December 2017, the investment general partner transferred its interest in Red Hill Apartments I Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $753,606 and cash proceeds to the investment partnership of $46,879. Of the total proceeds received, $1,000 will bewas paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $45,879 were returned to cash reserves held by Series 41. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $45,879 as of December 31, 2017.

 

In January 2018, the investment general partner transferred their respective interests in San Diego/Fox Hollow, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $7,277,023 and cash proceeds to the investment partnerships of $245,497, $166,126 and $343,581 for Series 41, Series 42 and Series 43, respectively. Of the total proceeds received, $1,625, $1,100 and $2,275 for Series 41, Series 42 and Series 43, respectively, willwas paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $243,872, $165,026 and $341,306 for Series 41, Series 42 and Series 43, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $243,872, $165,026 and $341,306 for Series 41, Series 42 and Series 43, respectively, as of March 31, 2018.

In April 2018, the operating general partner of Madison Housing Associates Two Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on June 15, 2018. The sales price of the property was $2,012,220, which included the outstanding mortgage balance of approximately $1,387,319 and cash proceeds to the investment partnership of $23,000. Of the total proceeds received by the investment partnership, $9,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $14,000 were returned to cash reserves held by Series 41. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $14,000 as of June 30, 2018.

 

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited itstheir LIHTC compliance period and there is therefore no risk to past credit delivery.

 

Bienville Partnership, A L.P.Cedar Grove Apartments Phase I

San Diego/Fox Hollow, LPRural Housing Partners of Mendota

 

Series 42

As of December 31, 20172018 and 2016,2017, the average Qualified Occupancy for the series was 100%. The series had a total of 139 properties at December 31, 2017,2018, all of which were at 100% Qualified Occupancy.

 

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 42 reflects a net loss from Operating Partnerships of $(595,763)$(314,612) and $(601,431)$(595,763), respectively, which includes depreciation and amortization of $801,778$501,382 and $844,726,$801,778, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In August 2018, the investment general partner transferred its interest in Great Bridge Dover Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,638,266 and cash proceeds to the investment partnership of $50,000. Of the total proceeds received, $7,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $42,500 were returned to cash reserves held by Series 42. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $42,500 as of December 31, 2018.

In November 2017, the operating general partner of Harbor Pointe II/MHT LDHA Limited Partnership (Harbor Pointe II Apartments) isentered into an agreement to sell the property a 72-unit familynon-affiliated entity and the transaction closed on February 6, 2018. The sales price of the property locatedwas $1,300,000, which included the outstanding mortgage balance of approximately $1,234,960 and nominal cash proceeds to the investment partnerships Series 41, Series 42 and Series 45, respectively. There were no cash proceeds available to pay expenses related to the sale and no proceeds were returned to cash reserves held by Series 41, Series 42 and Series 45, respectively. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in Benton Harbor, MI. The property continues to operate below breakeven. The investment general partner will continue to workthe Operating Partnership in accordance with the operating general partnerequity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the sale of the Operating Partnership was recorded for Series 41, Series 42 and Series 45, respectively, as of March 31, 2018. In addition, equity outstanding for the management company to monitor and improve operations. The operating general partner's operating deficit guaranteed has expired. The 15-year low income housing tax credit compliance period expiredOperating Partnership in the amount of $100 for Series 41 was recorded as gain on Decemberthe sale of the Operating Partnership as of March 31, 2017.2018.

 

In November 2017, the investment general partner transferred their respective interests in Dorchester Court LDHA Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $3,993,006 and cash proceeds to the investment partnerships of $230,000 and $230,000 for Series 42 and Series 43, respectively. Of the total proceeds received, $4,500 and $4,500 for Series 42 and Series 43, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $225,500 and $225,500 for Series 42 and Series 43, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $225,500 and $225,500 for Series 42 and Series 43, respectively, as of December 31, 2017.

 

In December 2017, the investment general partner transferred its interest in Natchez Place Apartments II Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $726,453 and cash proceeds to the investment partnership of $37,779. Of the total proceeds received, $1,000 will bewas paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $36,779 were returned to cash reserves held by Series 42. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $36,779 as of December 31, 2017.

 

In January 2018, the investment general partner transferred their respective interests in San Diego/Fox Hollow, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $7,277,023 and cash proceeds to the investment partnerships of $245,497, $166,126 and $343,581 for Series 41, Series 42 and Series 43, respectively. Of the total proceeds received, $1,625, $1,100 and $2,275 for Series 41, Series 42 and Series 43, respectively, willwas paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $243,872, $165,026 and $341,306 for Series 41, Series 42 and Series 43, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $243,872, $165,026 and $341,306 for Series 41, Series 42 and Series 43, respectively, as of March 31, 2018.

In December 2018, the investment general partners transferred their respective interests in Northfield Housing, Limited Partnership to entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $34,341 and cash proceeds to the investment partnerships of $26,678 and $13,322 for Series 24 and Series 42, respectively. Of the total proceeds received, $3,000 and $1,500 for Series 24 and Series 42, respectively, will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $23,678 and $11,822 for Series 24 and Series 42, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $23,678 and $11,822 for Series 24 and Series 42, respectively, as of December 31, 2018.

 

The investment general partner will continue to monitor the following Operating PartnershipsPartnership because of operational or other issues. However, thesethis Operating Partnerships havePartnership has exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

 

San Diego/Fox Hollow LP.

Wingfield Apartments Partnership II, LP

 

Series 43


As of December 31, 20172018 and 2016,2017, the average Qualified Occupancy for the series was 100%. The series had a total of 1814 properties at December 31, 2017,2018, all of which were at 100% Qualified Occupancy.

 

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 43 reflects a net loss from Operating Partnerships of $(792,307)$(368,103) and $(815,731)$(792,307), respectively, which includes depreciation and amortization of $1,263,725$788,153 and $1,312,092,$1,263,725, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In April 2018, the investment general partner transferred its interest in Bohannon Place, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $185,872 and cash proceeds to the investment partnership of $15,000. Of the total proceeds received, $6,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $9,000 were returned to cash reserves held by Series 43. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $9,000 as of June 30, 2018.

 

In November 2017, the investment general partner transferred their respective interests in Dorchester Court LDHA Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $3,993,006 and cash proceeds to the investment partnerships of $230,000 and $230,000 for Series 42 and Series 43, respectively. Of the total proceeds received, $4,500 and $4,500 for Series 42 and Series 43, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $225,500 and $225,500 for Series 42 and Series 43, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $225,500 and $225,500 for Series 42 and Series 43, respectively, as of December 31, 2017.

 

In January 2018, the investment general partner transferred their respective interests in San Diego/Fox Hollow, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $7,277,023 and cash proceeds to the investment partnerships of $245,497, $166,126 and $343,581 for Series 41, Series 42 and Series 43, respectively. Of the total proceeds received, $1,625, $1,100 and $2,275 for Series 41, Series 42 and Series 43, respectively, willwas paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $243,872, $165,026 and $341,306 for Series 41, Series 42 and Series 43, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $243,872, $165,026 and $341,306 for Series 41, Series 42 and Series 43, respectively, as of March 31, 2018.

In December 2018, the investment general partner transferred its interest in Carpenter School I Elderly Apartments Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,342,297 and cash proceeds to the investment partnership of $40,000. Of the total proceeds received, $34,762 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfers. Of the remaining proceeds, $4,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $738 were returned to cash reserves held by Series 43. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $738 as of December 31, 2018. In addition, equity outstanding for the Operating Partnership in the amount of $26,082 for Series 43 was recorded as gain on the transfer of the Operating Partnership as of December 31, 2018.

In December 2018, the investment general partner transferred its interest in Henderson Fountainhead, A Texas Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $807,402 and cash proceeds to the investment partnership of $43,200. Of the total proceeds received, $3,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $39,700 were returned to cash reserves held by Series 43. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $39,700 as of December 31, 2018.

In January 2019, the investment general partner transferred its interest in MDI Limited Partnership #81 to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $2,027,416 and cash proceeds to the investment partnership of $360,000. Of the total proceeds received, $7,500 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $352,500 were returned to cash reserves held by Series 43. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution.

 

The investment general partner will continue to monitor the following Operating PartnershipsPartnership because of operational or other issues. However, thesethis Operating Partnerships havePartnership has exited itstheir LIHTC compliance period and there is therefore no risk to past credit delivery.

 

San Diego/Fox Hollow LP.

Parkside Plaza, LLP

 

Series 44

As of December 31, 20172018 and 2016,2017, the average Qualified Occupancy was 100%. The series had a total of 7 properties at December 31, 2017,2018, all of which were at 100% Qualified Occupancy.

 

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 44 reflects a net loss from Operating Partnerships of $(179,199)$(29,950) and $(164,940)$(179,199), respectively, which includes depreciation and amortization of $1,025,862$1,014,262 and $1,079,209,$1,025,862, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

United Development CO. 2001 LP (Memphis 102) is a 102-unit single family home scattered site development, located in Memphis, TN. In September 2013, the court-appointed receiver for the Operating Partnership entered into an agreement to sell the property to a third-party buyer for $1,173,000; the sale transaction closed on November 26, 2013. After payment of the outstanding real estate taxes, the remaining proceeds of $210,000 were paid to the first mortgage lender. There were no cash proceeds to the investment partnership. The buyer agreed to operate the property in accordance with the land use and regulatory agreement as well as Section 42 of the Tax Code; therefore, resulting in no tax credit recapture or interest penalties for the investment limited partner stemming from the sale. The investment limited partners will; however, lose federal tax credits in 2013 and 2014 totaling $30,660 and $131,253, respectively, in addition to the recapture in 2012 totaling $281,707, equivalent to $104 per 1,000 BACs. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the sale of the Operating Partnership has been recorded. Despite the sale of the property, the low income housing tax credit compliance period for the tax credits received remains unchanged and will expire on December 31, 2018.

 

United Development Limited Partnership 2001 (Families First II) is a 66-unit single family house development located in West Memphis, AR. Due to low occupancy, deferred maintenance, high operating expenses and high debt service, the partnership operates below breakeven. The operating general partner, whose operating deficit guarantee has expired, provides limited oversight of property operations. For the most part, it was the third party property management company and the investment general partner who directed property operations starting in January 2014. Beginning in the fourth quarter of 2013 and continuing through October 23, 2015, the investment limited partner had advanced $201,849 from fund reserves to Families First II to finance operating deficits. No further advances were made by the investment limited partner during the remainder of the fourth quarter of 2015 or during the first half of 2016. Starting in November 2015, mortgage payments were not made by the Operating Partnership. As a result, the lender issued a default notice on December 8, 2015, and accelerated payment of the mortgage note. On February 10, 2016 the court appointed a receiver to manage the property. The foreclosure on the property occurred on July 21, 2016. The tax credit recapture costs and interest penalties as a result of the foreclosure sale is estimated at $780,762. This is equivalent to recapture costs and interest penalties of $289 per 1,000 BACs. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain or loss on the foreclosure of the Operating Partnership has been reported. Note that the 15-year low income housing tax credit compliance period for Families First II would have expired on December 31, 2018.

 

Series 45

As of December 31, 20172018 and 2016,2017, the average Qualified Occupancy for the series was 100%. The series had a total of 2725 properties at December 31, 2017,2018, all of which were at 100% Qualified Occupancy.

 

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 45 reflects a net loss from Operating Partnerships of $(595,305)$(593,628) and $(617,554)$(595,305), respectively, which includes depreciation and amortization of $1,476,660$1,328,457 and $1,506,167$1,476,660, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In December 2016, theJefferson Housing, LP (Jefferson House) is a 101-unit property located in Lynchburg, VA. The property continues to operate below breakeven. The investment general partner transferred their respective interests in Baldwin Villas Limited Partnershipwill continue to an entity affiliatedwork with the operating general partner for its assumptionand the management company to monitor and improve operations in conjunction with the Virginia Housing Development Authority. As of December 31, 2018, the property is maintaining average occupancy of 89%. Reporting delays remain a consistent issue. The operating general partner has an unlimited operating deficit guarantee. The low income housing tax credit compliance period expires on December 31, 2019.

In November 2017, the operating general partner of Harbor Pointe II/MHT LDHA Limited Partnership entered into an agreement to sell the property a non-affiliated entity and the transaction closed on February 6, 2018. The sales price of the property was $1,300,000, which included the outstanding mortgage balance of approximately $5,226,317$1,234,960 and nonominal cash proceeds to the investment partnerships Series 41, Series 42 and Series 45, respectively. There were no cash proceeds available to pay expenses related to the sale and no proceeds were returned to the cash reserves held by Series 37,41, Series 4042 and Series 45, respectively. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the transfersale of the Operating Partnership has beenwas recorded for Series 41, Series 42 and Series 45, respectively, as of DecemberMarch 31, 2016.

Brookside Square Limited Partnership (Brookside Square Apartments) is a 32-unit property located in Boykins, VA. On June 18, 2017 a guest of the property, while trying to park the car, drove into unit 202 causing significant structural damage. There were no injuries reported, and as a result of the accident units 202 and 203 were condemned by the building inspector. One resident was evicted as a result of the accident and one resident was relocated to a vacant unit. The management agent hired a contractor to complete the repairs at a cost of $20,443. The work started October 3, 2017 and completed on November 3, 2017. The property received full reimbursement2018. In addition, equity outstanding for the claim, and loss of rentsOperating Partnership in the amount of $2,108. The property operated above breakeven with occupancy$100 for Series 41 was recorded as gain on the sale of 94%the Operating Partnership as of DecemberMarch 31, 2017. The operating general partner's operating deficit guaranteed has expired. The 15-year low income housing tax credit compliance period with will expire on December 31, 2018. As the property has stabilized and is now operating above breakeven, the investment general partner will cease reporting for Brookside Square Limited Partnership subsequent to December 31, 2017.

Jefferson Housing, LP (Jefferson House) is a 101-unit property located in Lynchburg, VA. Due to a workout agreement with the Lender, VHDA, the property was operating above breakeven. However, the workout agreement ended May 1, 2016. The property continues to operate below breakeven. The investment general partner will continue to work with the operating general partner and the management company to monitor and improve operations in conjunction with the Virginia Housing Development Authority. The operating general partner's has an unlimited operating deficit guarantee. The low income housing tax credit compliance period expires on December 31, 2019.

Harbor Pointe II/MHT LDHA Limited Partnership (Harbor Pointe II Apartments) is a 72-unit family property located in Benton Harbor, MI. The property continues to operate below breakeven. The investment general partner will continue to work with the operating general partner and the management company to monitor and improve operations. The operating general partner's operating deficit guaranteed has expired. The 15-year low income housing tax credit compliance period expired on December 31, 2017.

 

Bartlett Bayou, L.P. (Bartlett Bayou Apartments) is a 48-unit family property in Pascagoula, MS. The property operated below breakeven in 20162017 and continues to operate below breakeven due to high operating expenses. AnWater expenses continue to rise as a result of a significant rate increase implemented in legal costs2016. Additionally, the property has ongoing sewage pump and sewer line issues. The sewer line must be pumped at least once a drop in occupancy at the beginning of 2017 caused below breakeven operationsquarter, totaling $12,000 annually. This expense is expected to continue until the sewer line is replaced, however the operating general partner does not plan to replace the line in 2018. The property is estimated to be generating a cash deficit of $31,075 through the third quarter.December 2018, but a replacement reserve withdrawal in 2019 will reimburse expensed sewer line repairs totaling $15,428. Occupancy declined slightly in 2017, averaging 95% but has improved to 98%an average of 97% in December 20172018. Effective September 19, 2018, the City of Pascagoula voted to enforce a mandatory building inspection for all vacant units prior to the unit be leased. Utility and averaged 96%electrical services will not be provided to a new tenant without the approval from the City. The City of Pascagoula is charging a $50 fee per unit inspection. In April 2018, Mississippi Home Corporation completed a 100% file audit. The audit found 10 gross rent violations due to confusion over the Partnership's set-aside of 20/50. The operating general partner advanced $33,384 in 2018 to reimburse residents who were overcharged rents. Mississippi Home Corporation will issue a close out letter for the year. Increased revenues combined withcompliance audit after they receive a decrease in operating expenses intenant ledger showing all rental rate overages were resolved for the fourth quarter allowed the property to operate slightly above breakeven.entire 2018 calendar year. The investment generallimited partner will continue to work with the operating general partner and the management company to maintain improvedimprove operations. The operating general partner's operating deficit guarantee has expired. The 15-year low income housing tax credit compliance period for Bartlett Bayou, L.P. expires on December 31, 2021.

 

Borger Fountainhead L.P. (La Mirage Apartments) is a 48-unit family property in Borger, Texas. The property operated below breakeven in 2016 due to high maintenance and administrative expenses and low occupancy. Occupancy has improved to 93% in 2017 and maintenance and administrative expenses have both decreased. The operating general partner's operating deficit guarantee has expired. The 15-year low income housing tax credit compliance period will expire on December 31, 2018. As the property has stabilized and is now operating above breakeven,In June 2018, the investment general partner transferred its interest in New Shinnston Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $455,569 and cash proceeds to the investment partnership of $350,000. Of the total proceeds received, $7,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $342,500 were returned to cash reserves held by Series 45. The monies held in cash reserves will cease reporting forbe utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $342,500 as of June 30, 2018.

In January 2019, the investment general partner transferred its interest in Borger Fountainhead, Limited Partnership subsequent to December 31, 2017.an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $642,974 and cash proceeds to the investment partnership of $57,600. Of the total proceeds received, $3,500 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $54,100 were returned to cash reserves held by Series 45. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution.

In January 2019, the investment general partner transferred its interest in Lorie Village, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $612,720 and cash proceeds to the investment partnership of $125,000. Of the total proceeds received, $4,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $121,000 were returned to cash reserves held by Series 45. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution.

In January 2019, the investment general partner transferred its interest in Lakeview Station Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $532,127 and cash proceeds to the investment partnership of $120,000. Of the total proceeds received, $4,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $116,000 were returned to cash reserves held by Series 45. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution.

The investment general partner will continue to monitor the following Operating Partnership because of operational or other issues. However, this Operating Partnership has exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

 

Heritage Christian Home III, L.P. (Heritage Christian Home III, LP) is a 12-unit assisted living single room occupancy property for adults with developmental disabilities located in Rochester, NY. The property operated below breakeven in 2016 due to the allocation of staff salaries that had not been previously allocated to the property. Previously the salaries were funded by the operating general partner and guarantor. The staffs' salaries are now allocated to the property and any resulting operating deficits will be funded by the operating general partner. Due to the increased administrative expense, the property continued to operate below breakeven in 2017. The operating general partners operating deficit guarantee is unlimited in time and amount. The 15-year low income housing tax credit compliance period for Heritage Christian Home III, LP expired on December 31, 2017.

 

Reese I Limited Partnership (Reese Village Apartments) is a 40-unit property located in Emporia, VA. The property operated below breakeven in 2017 with occupancy of 93% as of December 31, 2017. The property is aging, and requiring significant replacements and repairs for each unit turn, which is the leading cause of the below breakeven operations. Management also replaced the manager and maintenance man for poor performance in 2017. With a new on-site management team in place, and more careful monitoring of expenses, the property will work towards breakeven operations. The investment general partner will work with the operating general partner on ways to reduce operating expenses. The operating general partner's operating deficit guaranteed has expired. The 15-year low income housing tax credit compliance period will expire on December 31, 2019.

Series 46

As of December 31, 20172018 and 2016,2017, the average Qualified Occupancy for the series was 100%. The series had a total of 14 properties at December 31, 2017,2018, all of which were at 100% Qualified Occupancy.

 

For the nine month periods ended December 31, 20172018 and 2016,2017, Series 46 reflects a net loss from Operating Partnerships of $(282,209)$(131,651) and $(443,001)$(282,209), respectively, which includes depreciation and amortization of $857,671$850,503 and $976,513,$857,671, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

Panola Housing Ltd. (Panola Apartments) is a 32-unit family property in Carthage, TX. The property operated belowabove breakeven in 2016 largely due to high operating expenses. The property continued to operate below breakeventhrough 2018. Occupancy remains strong through the fourth quarter of 2017. High2018 averaging 97%. Property operations continue to be affected by high operating expenses are the main cause of the below breakeven operations.expenses. The investment general partner continues to work with the operating general partner and the management company to reduce expenses. The operating general partnerspartner's operating deficit guarantee has expired. The 15-year low income housing tax credit compliance period expires on December 31, 2018. As the property has stabilized and is now operating above breakeven, the investment general partner will cease reporting for Panola Housing Ltd. subsequent to December 31, 2018.

 

Bartlett Bayou, L.P. (Bartlett Bayou Apartments) is a 48-unit family property in Pascagoula, MS. The property operated below breakeven in 20162017 and continues to operate below breakeven due to high operating expenses. AnWater expenses continue to rise as a result of a significant rate increase implemented in legal costs2016. Additionally, the property has ongoing sewage pump and sewer line issues. The sewer line must be pumped at least once a drop in occupancy at the beginning of 2017 caused below breakeven operationsquarter, totaling $12,000 annually. This expense is expected to continue until the sewer line is replaced, however the operating general partner does not plan to replace the line in 2018. The property is estimated to be generating a cash deficit of $31,075 through the third quarter.December 2018, but a replacement reserve withdrawal in 2019 will reimburse expensed sewer line repairs totaling $15,428. Occupancy declined slightly in 2017, averaging 95% but has improved to 98%an average of 97% in December 20172018. Effective September 19, 2018, the City of Pascagoula voted to enforce a mandatory building inspection for all vacant units prior to the unit be leased. Utility and averaged 96%electrical services will not be provided to a new tenant without the approval from the City. The City of Pascagoula is charging a $50 fee per unit inspection. In April 2018, Mississippi Home Corporation completed a 100% file audit. The audit found 10 gross rent violations due to confusion over the Partnership's set-aside of 20/50. The operating general partner advanced $33,384 in 2018 to reimburse residents who were overcharged rents. Mississippi Home Corporation will issue a close out letter for the year. Increased revenues combined withcompliance audit after they receive a decrease in operating expenses intenant ledger showing all rental rate overages were resolved for the fourth quarter allowed the property to operate slightly above breakeven.entire 2018 calendar year. The investment generallimited partner will continue to work with the operating general partner and the management company to maintain improvedimprove operations. The operating general partner's operating deficit guarantee has expired. The 15-year low income housing tax credit compliance period for Bartlett Bayou, L.P. expires on December 31, 2021.

Linden-Shawnee Partners, Limited Partnership (Linden's Apartments) is a 54-unit family property in Shawnee, OK. Operations were below breakeven in 2016, largely due to management's inability to increase rents and retain current tenants, while incurring additional operating expenses. The investment general partner will continue to work with the operating general partner and management company to improve occupancy and overall operations. The operating general partner's operating deficit guarantee expires on December 31, 2020. The 15-year low income housing tax credit compliance period expires on December 31, 2020.

 

On November 22, 2016, the operating general partner of Agent Kensington Limited Partnership sold the property to an unrelated third party buyer. The sales price of the property was $6,625,000, which included the outstanding mortgage balance of approximately $4,023,594 and cash proceeds to the investment partnership of $398,183. Of the total proceeds received by the investment partnership, $5,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $393,183 were returned to cash reserves held by Series 46. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $393,183 as of December 31, 2016. In December 2017, the investment partnership received additional proceeds equal to its share of the Operating Partnership's cash in the amount of $10,994 which was returned to the cash reserves.

 

Saint Martin Apartments, L.P. (Saint Martin Apartments) is a 40-unit family property in McComb, MS. The property operated slightly abovebelow breakeven in 2016 but operated below breakeven2017 mainly due to high operating expenses and a reduction in rental income resulting from a decrease in occupancy. Average occupancy has improved through the fourth quarter of 2017,2018, averaging 93% for the year which is up from 78% in 2017. Operations are slightly above breakeven mainly due to lowincreased net rental income from improved occupancy. The investment limited partner will continue to work with the operating general partner on improving occupancy and will monitor operations.reducing expenses. The 15-year low income housing tax credit compliance period for Saint Martin Apartments, L.P. expires on December 31, 2020.

 

Off Balance Sheet Arrangements

 

None.

 

 

Principal Accounting Policies and Estimates

 

The financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), which require the Fund to make various estimates and assumptions. The following section is a summary of some aspects of those accounting policies that may require subjective or complex judgments and are most important to the portrayal of the Fund's financial condition and results of operations. The Fund believes that there is a low probability that the use of different estimates or assumptions in making these judgments would result in materially different amounts being reported in the financial statements.

 

The Fund is required to assess potential impairments to its long-lived assets, which are primarily investments in limited partnerships. The Fund accounts for its investment in limited partnerships in accordance with the equity method of accounting since the Fund does not control the operations of the Operating Partnerships. The purpose of an impairment analysis is to verify that the real estate investment balance reflected on the balance sheet does not exceed the value of the underlying investments.

 

If the book value of the Fund's investment in an Operating Partnership exceeds the estimated value derived by management, which generally consists of the remaining future Low-Income Housing Credits allocable to the Fund and the estimated residual value to the Fund, the Fund reduces its investment in the Operating Partnership.

 

The main reason an impairment loss typically occurs is that the annual operating losses, recorded in accordance with the equity method of accounting, of the investment in limited partnership does not reduce the balance as quickly as the annual use of the tax credits. In years prior to the year ended March 31, 2009, management included remaining tax credits as well as residual value in the calculated value of the underlying investments. However, management decided to take a more conservative approach to the investment calculation and determined that the majority of the residual value component of the valuation was zero for the years ended March 31, 20172018 and 2016.2017. However, it is important to note that this change in the accounting estimate to the calculation method of the impairment loss has no effect on the actual value or performance of the overall investment, nor does it have any effect on the remaining credits to be generated.

 

In accordance with the accounting guidance for the consolidation of variable interest entities, the Fund determines when it should include the assets, liabilities, and activities of a variable interest entity (VIE) in its financial statements, and when it should disclose information about its relationship with a VIE. The analysis that must be performed to determine which entity should consolidate a VIE focuses on control and economic factors.  A VIE is a legal structure used to conduct activities or hold assets, which must be consolidated by a company if it is the primary beneficiary because it has (1) the power to direct the activities of the VIE that most significantly impact the VIE's economic performance and (2) the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. If multiple unrelated parties share such power, as defined, no party will be required to consolidate the VIE. Further, the guidance requires continual reconsideration of the primary beneficiary of a VIE. 













Principal Accounting Policies and Estimates - continued

 

Based on this guidance, the Operating Partnerships in which the Fund invests meet the definition of a VIE because the owners of the equity at risk in these entities do not have the power to direct their operations.  However, management does not consolidate the Fund's interests in these VIEs, as it is not considered to be the primary beneficiary since it does not have the power to direct the activities that are considered most significant to the economic performance of these entities.  The Fund currently records the amount of its investment in these partnerships as an asset on its balance sheets, recognizes its share of partnership income or losses in the statements of operations, and discloses how it accounts for material types of these investments in its financial statements. The Fund's balance in investment in Operating Partnerships, advances made to Operating Partnerships, plus the risk of recapture of tax credits previously recognized on these investments, represents its maximum exposure to loss.  The Fund's exposure to loss on these partnerships is mitigated by the condition and financial performance of the underlying Housing Complexes as well as the strength of the general partners and their guarantee against credit recapture to the investors of the Fund.

 

 

 

 

 

 

 

 

 

 

 

 




















 

 

 

 

 




 

 

 

 

Item 3

Quantitative and Qualitative Disclosures About Market Risk

  
 

Not Applicable

 

Item 4

Controls and Procedures

   
 

(a)

Evaluation of Disclosure Controls and Procedures

  

 

As of the end of the period covered by this report, the Fund's general partner, under the supervision and with the participation of the Principal Executive Officer and Principal Financial Officer of C&M Management Inc., carried out an evaluation of the effectiveness of the Fund's "disclosure controls and procedures" as defined under the Securities Exchange Act of 1934 Rules 13a-15 and 15d-15 with respect to each series individually, as well as the Fund as a whole. Based on that evaluation, the Fund's Principal Executive Officer and Principal Financial Officer have concluded that as of the end of the period covered by this report, the Fund's disclosure controls and procedures were effective to ensure that information relating to any series or the Fund as a whole required to be disclosed by it in the reports that it files or submits under the Securities Exchange Act of 1934 (i) is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms and (ii) is accumulated and communicated to the Fund's management, including the Fund's Principal Executive Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure with respect to each series individually, as well as the Fund as a whole.

 

(b)

Changes in Internal Controls

   
  

There were no changes in the Fund's internal control over financial reporting that occurred during the quarter ended December 31, 20172018 that materially affected, or are reasonably likely to materially affect, the Fund's internal control over financial reporting.

 

 

 

PART II - OTHER INFORMATION

Item 1.

Legal Proceedings

  
 

None

  

Item 1A.

Risk Factors

  
 

There have been no material changes from the risk factors set forth under Part I, Item 1A. "Risk Factors" in our Form 10-K for the fiscal year ended March 31, 2017.2018.

  

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

  
 

None

  

Item 3.

Defaults Upon Senior Securities

  
 

None

  

Item 4.

Mine Safety Disclosures

  
 

Not Applicable

  

Item 5.

Other Information

  
 

None

Item 6.

Exhibits 

  
  

31.a Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, of John P. Manning, Principal Executive Officer, filed herewith

BCTC IV CERT 302

  

31.b Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, of Marc N. Teal, Principal Financial Officer, filed herewith

BCTC IV CERT 302

  

32.a Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, of John P. Manning, Principal Executive Officer, filed herewith

BCTC IV CERT 906

  

32.b Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, of Marc N. Teal, Principal Financial Officer, filed herewith

BCTC IV CERT 906

  
  

101. The following materials from the Boston Capital Tax Credit Fund IV L.P. Quarterly Report on Form 10-Q for the quarterly period ended December 31, 20172018 formatted in Extensible Business Reporting Language (XBRL): (i) the Condensed Balance Sheets, (ii) the Condensed Statements of Operations, (iii) the Condensed Statements of Changes in Partners' Capital (Deficit), (iv) the Condensed Statements of Cash Flows and (v) related notes, filed hereinherewith

  

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 hereunto duly authorized.

 

Boston Capital Tax Credit Fund IV L.P.  

 

By:

Boston Capital Associates IV L.P.
General Partner

  
 
 

By:

BCA Associates Limited Partnership
General Partner

 

By:

C&M Management, Inc.
General Partner

   

Date: February 13, 20182019

 

By:

/s/ John P. Manning
John P. Manning

   
   

Pursuant to the requirements of the Securities Exchange Act of 1934,
this report has been signed below by the following persons on behalf of the
Fund and in the capacities and on the dates indicated:

DATE:

SIGNATURE:

TITLE:

February 13, 20182019

/s/ John P. Manning

Director, President (Principal Executive Officer), C&M Management, Inc.; Director, President (Principal Executive Officer) BCTC IV Assignor Corp.

 

John P. Manning

  
  
  
  
  
   

February 13, 20182019

/s/ Marc N. Teal

Marc N. Teal

Sr. Vice President, Chief Financial Officer (Principal Accounting and Financial Officer) C&M Management Inc.; Sr. Vice President, Chief Financial Officer (Principal Accounting and Financial Officer) BCTC IV Assignor Corp.