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 | ||
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) |
| ||||
Condensed Statements of Cash Flows | 98-125 | ||||
Notes to Condensed Financial Statements |
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Item 2. Management's Discussion and Analysis of |
| ||||
Item 3. Quantitative and Qualitative Disclosures About Market Risk |
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Item 4. Controls and Procedures |
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PART II OTHER INFORMATION | |||||
Item 1. Legal Proceedings |
| ||||
Item 1A. Risk Factors |
| ||||
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds |
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Item 3. Defaults Upon Senior Securities |
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Item 4. Mine Safety Disclosures |
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Item 5. Other Information |
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Item 6. Exhibits |
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Signatures |
| ||||
Boston Capital Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
|
|
| |||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
|
|
| |||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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
|
|
|
| |||||
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 |
|
| ||||||
Units of limited partnership |
|
| ||||||
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 OPERATIONSThree 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 |
|
| ||
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 |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
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 OPERATIONSThree Months Ended December 31,(Unaudited)Series 20
2017 | 2016 | |||
Income | ||||
Interest income | $ | 284 | $ | 113 |
Other income | - | - | ||
284 | 113 | |||
Share of income from |
|
| ||
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 |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
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 OPERATIONSThree Months Ended December 31,(Unaudited)Series 21
2017 | 2016 | |||
Income | ||||
Interest income | $ | 81 | $ | 106 |
Other income | - | - | ||
81 | 106 | |||
Share of income from |
|
| ||
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 |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
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 OPERATIONSThree Months Ended December 31,(Unaudited)Series 22
2017 | 2016 | |||
Income | ||||
Interest income | $ | 196 | $ | 86 |
Other income | - | - | ||
196 | 86 | |||
Share of income from |
|
| ||
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 |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
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 OPERATIONSThree 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 |
|
| ||
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 |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
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 OPERATIONSThree Months Ended December 31,(Unaudited)
Series 24
2017 | 2016 | |||
Income | ||||
Interest income | $ | 211 | $ | 86 |
Other income | 344 | 104 | ||
555 | 190 | |||
Share of income from |
|
| ||
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 |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
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 |
|
| ||
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 |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
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 |
|
| ||
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 |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||
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 |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
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 |
|
| ||
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 |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
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 |
|
| ||
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 |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
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 |
|
| ||
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 |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
(700) |
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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 |
|
| ||||||
Gain on Disposition of |
|
| ||||||
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 |
|
|
|
|
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
|
|
|
|
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)
| General |
|
| General |
| |||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||
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), |
|
|
|
|
|
| ||||||||||||||||||
Partners' capital |
|
|
|
|
|
|
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)
| General |
|
| General |
| |||||||
Series 20 | ||||||||||||
Partners' capital (deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
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), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 21 | ||||||||||||
Partners' capital (deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | 1,070,891 | 1,070,891 | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | 9,152 | 92 | 9,244 | - | - | - | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 22 | ||||||||||||
Partners' capital (deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | 2,694,389 | 2,694,389 | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | (47,824) | (483) | (48,307) | (37,763) | (381) | (38,144) | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
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)
| General |
|
| General |
| |||||||
Series 23 | ||||||||||||
Partners' capital (deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | 514,253 | 514,253 | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | 941,940 | 9,515 | 951,455 | (26,732) | (270) | (27,002) | ||||||
Partners' capital (deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 24 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | (61,493) | (621) | (62,114) | (33,543) | (339) | (33,882) | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 25 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | (380,117) | - | (380,117) | - | - | - | ||||||
Net income (loss) | 34,062 | 344 | 34,406 | - | - | - | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
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)
| General |
|
| General |
| |||||||
Series 26 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | (14,601) | (147) | (14,748) | (69,252) | (700) | (69,952) | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 27 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
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), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 28 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | (55,837) | (564) | (56,401) | (40,714) | (411) | (41,125) | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
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)
| General |
|
| General |
| |||||||
Series 29 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | (91,719) | (926) | (92,645) | 63,720 | 644 | 64,364 | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 30 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
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), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 31 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | (53,434) | (540) | (53,974) | 27,836 | 281 | 28,117 | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
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)
| General |
|
| General |
| |||||||
Series 32 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | 1,570,780 | 15,866 | 1,586,646 | 384,570 | 3,885 | 388,455 | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 33 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | 22,957 | 232 | 23,189 | (54,857) | (554) | (55,411) | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 34 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | (61,701) | (623) | (62,324) | (58,264) | (589) | (58,853) | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
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)
| General |
|
| General |
| |||||||
Series 35 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | 2,567,955 | 25,939 | 2,593,894 | (27,124) | (274) | (27,398) | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 36 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | (40,779) | (412) | (41,191) | 178,749 | 1,806 | 180,555 | ||||||
Partners' capital deficit), |
|
|
|
|
|
1,994,621 | ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 37 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
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), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
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)
| General |
|
| General |
| |||||||
Series 38 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | (50,813) | (513) | (51,326) | 12,533 | 127 | 12,660 | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 39 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | (40,046) | - | (40,046) | - | - | - | ||||||
Net income (loss) | (47,588) | (481) | (48,069) | - | - | - | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 40 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | 480,728 | 4,856 | 485,584 | (53,072) | (536) | (53,608) | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
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)
| General |
|
| General |
| |||||||
Series 41 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | 610,532 | 6,167 | 616,699 | (76,625) | (774) | (77,399) | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 42 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | 133,886 | 1,352 | 135,238 | (8,803) | (89) | (8,892) | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 43 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | 80,188 | 810 | 80,998 | 7,943 | 80 | 8,023 | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
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)
| General |
|
| General |
| |||||||
Series 44 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | (164,757) | (1,664) | (166,421) | (158,374) | (1,600) | (159,974) | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 45 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | (229,449) | (2,318) | (231,767) | 153,152 | 1,547 | 154,699 | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
| General |
|
| General |
| |||||||
Series 46 | ||||||||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
| ||||||
Contributions | - | - | - | - | - | - | ||||||
Distributions | - | - | - | - | - | - | ||||||
Net income (loss) | (128,646) | (1,299) | (129,945) | (142,336) | (1,438) | (143,774) | ||||||
Partners' capital deficit), |
|
|
|
|
|
| ||||||
Partners' capital |
|
|
|
|
|
|
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | (420,163) | - | (1,331,500) | (420,163) | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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. |
|
|
|
| |
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. |
|
|
|
| |
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 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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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. |
|
|
|
| |
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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. |
|
|
|
| |
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. |
|
|
|
| |
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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. |
|
|
|
| |
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
(31,515) |
|
| ||||
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. |
|
|
|
| |
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | (380,117) | - | - | (380,117) | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | (310,963) | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | �� | |||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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. |
|
|
|
| |
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
|
|
| ||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
| 497,770 |
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | (1,020,537) | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | (40,046) | - | - | (40,046) | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
- | - | - | - | |||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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. |
|
|
|
| |
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 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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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. |
|
|
|
| |
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 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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 | ||||||||
Share of (income) from |
|
| ||||||
Gain on Disposition |
|
| ||||||
Changes in assets and liabilities | ||||||||
(Decrease) Increase in accounts |
|
|
|
|
|
| ||
Decrease (Increase) in other |
|
|
|
| ||||
(Decrease) Increase in accounts |
|
|
|
| ||||
|
|
|
| |||||
Cash flows from investing activities: | ||||||||
Capital contributions paid to |
|
|
|
| ||||
Proceeds from the disposition of Operating Partnerships |
|
|
|
| ||||
Net cash (used in) provided by |
|
|
|
| ||||
Cash flows from financing activities: | ||||||||
Distributions | - | - | - | - | ||||
Net cash used in |
|
|
|
| ||||
INCREASE (DECREASE) IN CASH AND |
|
|
|
| ||||
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 - CONTINUEDDecember 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 | |
$ 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 | |
$ 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 | ||||||
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 - CONTINUEDDecember 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.* |
|
| ||||
Net loss allocated to Boston Capital Tax Credit Fund IV L.P. | Net loss allocated to Boston Capital Tax Credit Fund IV L.P. |
|
| |||
Net loss allocated to other | Net loss allocated to other |
|
| Net loss allocated to other |
|
|
* 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.
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.* |
|
| |
Net loss allocated to other |
|
|
* 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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine Months Ended September 30,(Unaudited)
Series 21
|
| ||
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 |
|
|
* 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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine 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.* |
|
| |
Net loss allocated to other |
|
|
* 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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine 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.* |
|
| |
Net loss allocated to other |
|
|
* 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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine 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.* |
|
| |
Net loss allocated to other |
|
|
* 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 OPERATIONSNine Months Ended September 30,(Unaudited)
Series 25
|
| ||
| |||
|
|
| |
|
|
| |
|
| ||
| |||
|
|
| |
|
|
| |
|
|
| |
|
| ||
|
|
| |
|
|
| |
|
|
|
* 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 - CONTINUEDDecember 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.* |
|
| |
Net loss allocated to other |
|
|
* 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 |
|
|
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.* |
|
| |
Net loss allocated to other |
|
|
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. |
|
| |
Net loss allocated to other |
|
|
* 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. |
|
| |
Net loss allocated to other |
|
|
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. |
|
| |
Net loss allocated to other |
|
|
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 |
|
|
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. |
|
| |
Net loss allocated to other |
|
|
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.* |
|
| ||||
Net loss allocated to Boston Capital Tax Credit Fund IV L.P. | Net loss allocated to Boston Capital Tax Credit Fund IV L.P. |
|
| |||
Net loss allocated to other | Net loss allocated to other |
|
| Net loss allocated to other |
|
|
* 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. |
|
| |
Net loss allocated to other |
|
|
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.* |
|
| |
Net loss allocated to other |
|
|
* 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.* |
|
| |
Net loss allocated to other |
|
|
* 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. |
|
| |
Net loss allocated to other |
|
|
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.* |
|
| |
Net loss allocated to other |
|
|
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. |
|
| |
Net loss allocated to other |
|
|
* 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.* |
|
| ||||
Net loss allocated to Boston Capital Tax Credit Fund IV L.P. | Net loss allocated to Boston Capital Tax Credit Fund IV L.P. |
|
| |||
Net loss allocated to other | Net loss allocated to other |
|
| Net loss allocated to other |
|
|
* 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.* |
|
| ||||
Net loss allocated to Boston Capital Tax Credit Fund IV L.P. | Net loss allocated to Boston Capital Tax Credit Fund IV L.P. |
|
| |||
Net loss allocated to other | Net loss allocated to other |
|
| Net loss allocated to other |
|
|
* 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.* |
|
| ||||
Net loss allocated to Boston Capital Tax Credit Fund IV L.P. | Net loss allocated to Boston Capital Tax Credit Fund IV L.P. |
|
| |||
Net loss allocated to other | Net loss allocated to other |
|
| Net loss allocated to other |
|
|
* 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.* |
|
| ||||
Net loss allocated to Boston Capital Tax Credit Fund IV L.P. | Net loss allocated to Boston Capital Tax Credit Fund IV L.P. |
|
| |||
Net loss allocated to other | Net loss allocated to other |
|
| Net loss allocated to other |
|
|
* 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.* |
|
| |
Net loss allocated to other |
|
|
* 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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine 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. |
|
| |
Net loss allocated to other |
|
|
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.* |
|
| |
Net loss allocated to other |
|
|
* 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.* |
|
| ||||
Net loss allocated to Boston Capital Tax Credit Fund IV L.P. | Net loss allocated to Boston Capital Tax Credit Fund IV L.P. |
|
| |||
Net loss allocated to other | Net loss allocated to other |
|
| Net loss allocated to other |
|
|
* 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. |
|
| |
Net loss allocated to other |
|
|
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
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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. |
|
| |
Net loss allocated to other |
|
|
* 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 |
|
|
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)
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.* |
|
| ||||
Net loss allocated to Boston Capital Tax Credit Fund IV L.P. | Net loss allocated to Boston Capital Tax Credit Fund IV L.P. |
|
| |||
Net loss allocated to other | Net loss allocated to other |
|
| Net loss allocated to other |
|
|
* 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.* |
|
| ||||
Net loss allocated to Boston Capital Tax Credit Fund IV L.P. | Net loss allocated to Boston Capital Tax Credit Fund IV L.P. |
|
| |||
Net loss allocated to other | Net loss allocated to other |
|
| Net loss allocated to other |
|
|
* 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.* |
|
| ||||
Net loss allocated to Boston Capital Tax Credit Fund IV L.P. | Net loss allocated to Boston Capital Tax Credit Fund IV L.P. |
|
| |||
Net loss allocated to other | Net loss allocated to other |
|
| Net loss allocated to other |
|
|
* 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.* |
|
| ||||
Net loss allocated to Boston Capital Tax Credit Fund IV L.P. | Net loss allocated to Boston Capital Tax Credit Fund IV L.P. |
|
| |||
Net loss allocated to other | Net loss allocated to other |
|
| Net loss allocated to other |
|
|
* 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.* |
|
| ||||
Net loss allocated to Boston Capital Tax Credit Fund IV L.P. | Net loss allocated to Boston Capital Tax Credit Fund IV L.P. |
|
| |||
Net loss allocated to other | Net loss allocated to other |
|
| Net loss allocated to other |
|
|
* 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.* |
|
| ||||
Net loss allocated to Boston Capital Tax Credit Fund IV L.P. | Net loss allocated to Boston Capital Tax Credit Fund IV L.P. |
|
| |||
Net loss allocated to other | Net loss allocated to other |
|
| Net loss allocated to other |
|
|
* 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.* |
|
| ||||
Net loss allocated to Boston Capital Tax Credit Fund IV L.P. | Net loss allocated to Boston Capital Tax Credit Fund IV L.P. |
|
| |||
Net loss allocated to other | Net loss allocated to other |
|
| Net loss allocated to other |
|
|
* 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 |
|
| 3 Months | |
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 |
|
| 9 Months | |
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, |
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, | ||
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 | ||
31.b Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, of Marc N. Teal, Principal Financial Officer, filed herewith | ||
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 | ||
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 | ||
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, | ||
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. | ||
By: | BCA Associates Limited Partnership | ||
By: | C&M Management, Inc. | ||
Date: February 13, | By: | /s/ 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, | /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, | /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. |