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, 2017
2021
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 CAPITALBF GARDEN 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 |
One Boston Place, Suite 2100,101 Arch Street, 13th Floor Boston, Massachusetts 02108
02110
(Address of principal executive offices) (Zip Code)
(617) 624-8900 (888) 773-1487
(Registrant'sRegistrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
| |||||
Title of each class |
| Trading Symbol(s) | Name of each exchange on which registered | ||
None | | None | | None | |
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.
Yes | 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).
Yes | 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“large accelerated filer," "accelerated” “accelerated filer," "smaller” “smaller reporting company,"” and "emerging“emerging growth company"company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer | Accelerated Filer | |
Non-accelerated filer | Smaller Reporting Company ☒ | |
| ||
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 | No |
BOSTON CAPITALBF GARDEN TAX CREDIT FUND IV L.P.
FOR THE QUARTER ENDED DECEMBER 31, 20172021
TABLE OF CONTENTS
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Item 3. Quantitative and Qualitative Disclosures About Market Risk |
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Item 2. Unregistered Sales of Equity Securities and Use of Proceeds |
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2
Boston CapitalTable of Contents
BF Garden 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 | ||
Notes receivable | - | 22,790 | ||
Other assets | 58,927 | 164,773 | ||
$ | 28,580,047 | $ | 27,397,560 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | 651,173 | $ | 697,432 |
Accounts payable affiliates (Note C) | 31,587,088 | 39,637,826 | ||
Capital contributions payable | 186,846 | 578,113 | ||
32,425,107 | 40,913,371 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (6,016,593) | (7,177,685) | ||
(3,845,060) | (13,515,811) | |||
$ | 28,580,047 | $ | 27,397,560 | |
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | |
|
| |
|
|
Cash and cash equivalents | |
| 4,915,322 | |
| 10,819,585 |
Other assets | |
| 6,789 | |
| 10,829 |
| | $ | 4,922,111 | | $ | 10,830,414 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 27 |
Accounts payable affiliates (Note C) | |
| 11,482,092 | |
| 12,664,070 |
Capital contributions payable | |
| 785 | |
| 785 |
| | | 11,482,877 | | | 12,664,882 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | | | | | | |
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 83,651,080 issued and 82,874,653 outstanding as of December 31, 2021 and March 31, 2021. | |
| (6,189,318) | |
| (1,450,880) |
General Partner | |
| (371,448) | |
| (383,588) |
| | | (6,560,766) | | | (1,834,468) |
| | $ | 4,922,111 | | $ | 10,830,414 |
The accompanying notes are an integral part of this condensed statement
Boston Capital
3
BF Garden 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 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 286,465 | $ | 271,060 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | 2,000 | $ | - |
Accounts payable affiliates (Note C) | 1,483,509 | 1,466,902 | ||
Capital contributions payable | - | - | ||
1,485,509 | 1,466,902 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (320,243) | (320,211) | ||
(1,199,044) | (1,195,842) | |||
$ | 286,465 | $ | 271,060 | |
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | |
|
| |
|
|
Cash and cash equivalents | |
| 0 | |
| 0 |
Other assets | |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 0 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,866,700 issued and 3,828,200 outstanding as of December 31, 2021 and March 31, 2021. | |
| (754,767) | |
| (754,767) |
General Partner | |
| 754,767 | |
| 754,767 |
| | | 0 | | | 0 |
| | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
Boston Capital
4
BF Garden Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 21
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | |
|
| |
|
|
Cash and cash equivalents | |
| 0 | |
| 0 |
Other assets | |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 0 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 1,892,700 issued and 1,879,500 outstanding as of December 31, 2021 and March 31, 2021. | |
| (898,231) | |
| (898,231) |
General Partner | |
| 898,231 | |
| 898,231 |
| | | 0 | | | 0 |
| | $ | 0 | | $ | 0 |
|
| |||
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 |
|
| ||
General Partner | 898,231 | (172,752) | ||
- | (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 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 225,666 | $ | 252,064 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | - | $ | - |
Accounts payable affiliates (Note C) | 2,870,806 | 2,848,897 | ||
Capital contributions payable | - | - | ||
2,870,806 | 2,848,897 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (245,535) | (245,052) | ||
(2,645,140) | (2,596,833) | |||
$ | 225,666 | $ | 252,064 | |
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 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 1,138,740 | $ | 659,167 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | - | $ | - |
Accounts payable affiliates (Note C) | 1,617,792 | 2,089,674 | ||
Capital contributions payable | - | - | ||
1,617,792 | 2,089,674 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (289,637) | (299,152) | ||
(479,052) | (1,430,507) | |||
$ | 1,138,740 | $ | 659,167 | |
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 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 365,067 | $ | 427,181 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | - | $ | - |
Accounts payable affiliates (Note C) | - | - | ||
Capital contributions payable | - | - | ||
- | - | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (175,601) | (174,980) | ||
365,067 | 427,181 | |||
$ | 365,067 | $ | 427,181 | |
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 |
|
| ||
General Partner | (219,815) | (220,159) | ||
- | 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 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 662,931 | $ | 677,679 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | - | $ | - |
Accounts payable affiliates (Note C) | - | - | ||
Capital contributions payable | - | - | ||
- | - | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (311,713) | (311,566) | ||
662,931 | 677,679 | |||
$ | 662,931 | $ | 677,679 | |
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 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 6,788,242 | $ | 3,606,473 | |
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 |
|
| ||
General Partner | (138,565) | (170,699) | ||
6,788,242 | 3,574,800 | |||
$ | 6,788,242 | $ | 3,606,473 | |
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 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 756,082 | $ | 812,483 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | - | $ | - |
Accounts payable affiliates (Note C) | - | - | ||
Capital contributions payable | - | - | ||
- | - | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (274,276) | (273,712) | ||
756,082 | 812,483 | |||
$ | 756,082 | $ | 812,483 | |
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 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 314,643 | $ | 345,648 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | - | $ | - |
Accounts payable affiliates (Note C) | 3,540,832 | 3,479,192 | ||
Capital contributions payable | 8,235 | 8,235 | ||
3,549,067 | 3,487,427 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (370,991) | (370,065) | ||
(3,234,424) | (3,141,779) | |||
$ | 314,643 | $ | 345,648 | |
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 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 519,393 | $ | 270,126 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | - | $ | - |
Accounts payable affiliates (Note C) | 1,683,848 | 1,641,976 | ||
Capital contributions payable | 65,176 | 105,139 | ||
1,749,024 | 1,747,115 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (239,352) | (241,826) | ||
(1,229,631) | (1,476,989) | |||
$ | 519,393 | $ | 270,126 | |
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 | ||
Notes receivable | - | - | ||
Other assets | 25,000 | 25,000 | ||
$ | 2,018,674 | $ | 2,072,648 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | - | $ | - |
Accounts payable affiliates (Note C) | - | - | ||
Capital contributions payable | 66,294 | 66,294 | ||
66,294 | 66,294 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (359,735) | (359,195) | ||
1,952,380 | 2,006,354 | |||
$ | 2,018,674 | $ | 2,072,648 | |
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 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 1,313,748 | $ | 837,185 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | - | $ | 2,000 |
Accounts payable affiliates (Note C) | 1,664,448 | 2,772,531 | ||
Capital contributions payable | 1,229 | 1,229 | ||
1,665,677 | 2,775,760 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (409,883) | (425,749) | ||
(351,929) | (1,938,575) | |||
$ | 1,313,748 | $ | 837,185 | |
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 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 342,899 | $ | 337,765 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | - | $ | - |
Accounts payable affiliates (Note C) | 1,239,277 | 1,190,828 | ||
Capital contributions payable | 2,650 | 69,154 | ||
1,241,927 | 1,259,982 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (234,770) | (235,002) | ||
(899,028) | (922,217) | |||
$ | 342,899 | $ | 337,765 | |
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 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 393,160 | $ | 849,078 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | - | $ | - |
Accounts payable affiliates (Note C) | 2,828,003 | 3,221,597 | ||
Capital contributions payable | - | - | ||
2,828,003 | 3,221,597 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (324,738) | (324,115) | ||
(2,434,843) | (2,372,519) | |||
$ | 393,160 | $ | 849,078 | |
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 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 4,434,679 | $ | 2,392,767 | |
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 |
|
| ||
General Partner | (237,678) | (263,617) | ||
4,434,679 | 1,840,785 | |||
$ | 4,434,679 | $ | 2,392,767 | |
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 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 2,125,621 | $ | 2,934,317 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | 131,000 | $ | 131,000 |
Accounts payable affiliates (Note C) | - | 767,505 | ||
Capital contributions payable | - | - | ||
131,000 | 898,505 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (158,717) | (158,305) | ||
1,994,621 | 2,035,812 | |||
$ | 2,125,621 | $ | 2,934,317 | |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 37
|
| |||
INVESTMENTS IN OPERATING PARTNERSHIPS | $ | - | $ | - |
OTHER ASSETS | ||||
Cash and cash equivalents | 523,132 | 2,096,039 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 523,132 | $ | 2,096,039 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | - | $ | - |
Accounts payable affiliates (Note C) | 504,942 | 2,043,715 | ||
Capital contributions payable | - | 138,438 | ||
504,942 | 2,182,153 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (215,383) | (216,426) | ||
18,190 | (86,114) | |||
$ | 523,132 | $ | 2,096,039 | |
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 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 1,469,010 | $ | 3,042,864 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | - | $ | 6,543 |
Accounts payable affiliates (Note C) | - | 1,515,985 | ||
Capital contributions payable | - | - | ||
- | 1,522,528 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (203,594) | (203,081) | ||
1,469,010 | 1,520,336 | |||
$ | 1,469,010 | $ | 3,042,864 | |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 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 |
|
| ||
General Partner | (196,043) | (195,562) | ||
- | 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 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 725,271 | $ | 248,318 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | - | $ | - |
Accounts payable affiliates (Note C) | 2,675,427 | 2,684,058 | ||
Capital contributions payable | 102 | 102 | ||
2,675,529 | 2,684,160 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (244,446) | (249,302) | ||
(1,950,258) | (2,435,842) | |||
$ | 725,271 | $ | 248,318 | |
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 | ||
Notes receivable | - | - | ||
Other assets | - | 1,218 | ||
$ | 1,022,969 | $ | 324,120 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | 2,000 | $ | 4,500 |
Accounts payable affiliates (Note C) | 3,370,905 | 3,286,255 | ||
Capital contributions payable | 100 | 100 | ||
3,373,005 | 3,290,855 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (272,669) | (278,836) | ||
(2,350,036) | (2,966,735) | |||
$ | 1,022,969 | $ | 324,120 | |
The accompanying notes are an integral part of this condensed statement
Boston Capital5
BF Garden Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 4222
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | | | | | | |
Cash and cash equivalents | |
| 0 | |
| 0 |
Other assets | |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 0 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,564,400 issued and 2,550,145 outstanding as of December 31, 2021 and March 31, 2021. | |
| (2,448,362) | |
| (2,448,362) |
General Partner | |
| 2,448,362 | |
| 2,448,362 |
| | | 0 | | | 0 |
| | $ | 0 | | $ | 0 |
|
| |||
INVESTMENTS IN OPERATING PARTNERSHIPS | $ | - | $ | - |
OTHER ASSETS | ||||
Cash and cash equivalents | 1,198,080 | 1,072,528 | ||
Notes receivable | - | 22,790 | ||
Other assets | 11,300 | 51,003 | ||
$ | 1,209,380 | $ | 1,146,321 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | 1,000 | $ | - |
Accounts payable affiliates (Note C) | - | - | ||
Capital contributions payable | 254 | 73,433 | ||
1,254 | 73,433 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (228,857) | (230,209) | ||
1,208,126 | 1,072,888 | |||
$ | 1,209,380 | $ | 1,146,321 | |
The accompanying notes are an integral part of this condensed statement
6
BF Garden 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 | ||
Notes receivable | - | - | ||
Other assets | 18,839 | 82,514 | ||
$ | 612,965 | $ | 434,152 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | - | $ | - |
Accounts payable affiliates (Note C) | 942,792 | 771,794 | ||
Capital contributions payable | 26,082 | 99,265 | ||
968,874 | 871,059 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (325,080) | (325,890) | ||
(355,909) | (436,907) | |||
$ | 612,965 | $ | 434,152 | |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 44
|
| |||
INVESTMENTS IN OPERATING PARTNERSHIPS | $ | - | $ | - |
OTHER ASSETS | ||||
Cash and cash equivalents | 84,859 | 66,324 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 84,859 | $ | 66,324 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | - | $ | - |
Accounts payable affiliates (Note C) | 2,769,597 | 2,584,641 | ||
Capital contributions payable | - | - | ||
2,769,597 | 2,584,641 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (264,295) | (262,631) | ||
(2,684,738) | (2,518,317) | |||
$ | 84,859 | $ | 66,324 | |
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 | ||
Notes receivable | - | - | ||
Other assets | - | - | ||
$ | 727,804 | $ | 803,153 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | 515,173 | $ | 515,173 |
Accounts payable affiliates (Note C) | 2,514,264 | 2,357,846 | ||
Capital contributions payable | 16,724 | 16,724 | ||
3,046,161 | 2,889,743 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (376,846) | (374,528) | ||
(2,318,357) | (2,086,590) | |||
$ | 727,804 | $ | 803,153 | |
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 | ||
Notes receivable | - | - | ||
Other assets | 3,788 | 3,788 | ||
$ | 518,647 | $ | 654,917 | |
LIABILITIES | ||||
Accounts payable and accrued expenses | $ | - | $ | - |
Accounts payable affiliates (Note C) | 1,880,646 | 1,886,971 | ||
Capital contributions payable | - | - | ||
1,880,646 | 1,886,971 | |||
PARTNERS' CAPITAL (DEFICIT) | ||||
Assignees | ||||
Units of limited partnership |
|
| ||
General Partner | (276,362) | (275,063) | ||
(1,361,999) | (1,232,054) | |||
$ | 518,647 | $ | 654,917 | |
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
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | | | | | | |
Cash and cash equivalents | |
| 0 | |
| 0 |
Other assets | |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 0 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,336,727 issued and 3,303,327 outstanding as of December 31, 2021 and March 31, 2021. | |
| (224,264) | |
| (224,264) |
General Partner | |
| 224,264 | |
| 224,264 |
| | | 0 | | | 0 |
| | $ | 0 | | $ | 0 |
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 OPERATIONSThree Months Ended December 31,(Unaudited)Series 25
2017 | 2016 | |||
Income | ||||
Interest income | $ | - | $ | 80 |
Other income | - | 16 | ||
- | 96 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 1,314 | 1,104 | ||
Fund management fee, net (Note C) | - | 5,184 | ||
General and administrative expenses | 40,074 | 7,758 | ||
41,388 | 14,046 | |||
NET INCOME (LOSS) | $ | (41,388) | $ | (13,950) |
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 26
2017 | 2016 | |||
Income | ||||
Interest income | $ | 530 | $ | 225 |
Other income | - | 4,960 | ||
530 | 5,185 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 1,431 | ||
Fund management fee, net (Note C) | 15,609 | 21,704 | ||
General and administrative expenses | 7,656 | 10,619 | ||
23,922 | 33,754 | |||
NET INCOME (LOSS) | $ | (23,392) | $ | (28,569) |
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 27
2017 | 2016 | |||
Income | ||||
Interest income | $ | 8,050 | $ | 2,689 |
Other income | 7,370 | - | ||
15,420 | 2,689 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 2,577 | 36,567 | ||
Fund management fee, net (Note C) | 155 | 21,794 | ||
General and administrative expenses | 4,895 | 6,493 | ||
7,627 | 64,854 | |||
NET INCOME (LOSS) | $ | 7,793 | $ | (62,165) |
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 28
2017 | 2016 | |||
Income | ||||
Interest income | $ | 577 | $ | 278 |
Other income | - | - | ||
577 | 278 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 1,315 | ||
Fund management fee, net (Note C) | 8,844 | (6,156) | ||
General and administrative expenses | 6,717 | 8,756 | ||
16,218 | 3,915 | |||
NET INCOME (LOSS) | $ | (15,641) | $ | (3,637) |
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 OPERATIONSThree Months Ended December 31,(Unaudited)Series 29
2017 | 2016 | |||
Income | ||||
Interest income | $ | 313 | $ | 149 |
Other income | - | - | ||
313 | 149 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 1,449 | ||
Fund management fee, net (Note C) | 20,547 | 16,596 | ||
General and administrative expenses | 7,413 | 9,681 | ||
28,617 | 27,726 | |||
NET INCOME (LOSS) | $ | (28,304) | $ | (27,577) |
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 30
2017 | 2016 | |||
Income | ||||
Interest income | $ | 574 | $ | 141 |
Other income | - | - | ||
574 | 141 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 894 | ||
Fund management fee, net (Note C) | 10,209 | 15,021 | ||
General and administrative expenses | 5,314 | 6,974 | ||
16,180 | 22,889 | |||
NET INCOME (LOSS) | $ | (15,606) | $ | (22,748) |
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 31
2017 | 2016 | |||
Income | ||||
Interest income | $ | 2,325 | $ | 670 |
Other income | - | - | ||
2,325 | 670 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 1,391 | ||
Fund management fee, net (Note C) | 19,092 | 37,521 | ||
General and administrative expenses | 7,199 | 9,702 | ||
26,948 | 48,614 | |||
NET INCOME (LOSS) | $ | (24,623) | $ | 744,003 |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.01) | $ | .17 |
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 32
2017 | 2016 | |||
Income | ||||
Interest income | $ | 2,148 | $ | 124 |
Other income | 11,000 | - | ||
13,148 | 124 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 1,482 | ||
Fund management fee, net (Note C) | 17,234 | 43,080 | ||
General and administrative expenses | 11,395 | 10,050 | ||
29,286 | 54,612 | |||
NET INCOME (LOSS) | $ | 112,609 | $ | (5,588) |
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 33
2017 | 2016 | |||
Income | ||||
Interest income | $ | 332 | $ | 157 |
Other income | 5,329 | - | ||
5,661 | 157 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 890 | ||
Fund management fee, net (Note C) | (3,186) | 16,398 | ||
General and administrative expenses | 4,891 | 6,314 | ||
2,362 | 23,602 | |||
NET INCOME (LOSS) | $ | 70,753 | $ | (23,445) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | .03 | $ | (.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 34
2017 | 2016 | |||
Income | ||||
Interest income | $ | 645 | $ | 315 |
Other income | - | - | ||
645 | 315 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 1,934 | ||
Fund management fee, net (Note C) | 12,365 | 12,592 | ||
General and administrative expenses | 5,903 | 7,768 | ||
18,925 | 22,294 | |||
NET INCOME (LOSS) | $ | (18,280) | $ | 366,212 |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.01) | $ | .10 |
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 35
2017 | 2016 | |||
Income | ||||
Interest income | $ | 5,396 | $ | 2,252 |
Other income | - | - | ||
5,396 | 2,252 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 1,190 | ||
Fund management fee, net (Note C) | 7,453 | 21,180 | ||
General and administrative expenses | 5,576 | 7,658 | ||
13,686 | 30,028 | |||
NET INCOME (LOSS) | $ | (8,290) | $ | 134,659 |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.00) | $ | .04 |
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 36
2017 | 2016 | |||
Income | ||||
Interest income | $ | 2,465 | $ | 1,895 |
Other income | - | - | ||
2,465 | 1,895 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 716 | ||
Fund management fee, net (Note C) | 7,626 | 7,626 | ||
General and administrative expenses | 4,272 | 5,466 | ||
12,555 | 13,808 | |||
NET INCOME (LOSS) | $ | (10,090) | $ | (11,913) |
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 OPERATIONSThree Months Ended December 31,(Unaudited)
Series 37
2017 | 2016 | |||
Income | ||||
Interest income | $ | 1,144 | $ | 1,375 |
Other income | - | - | ||
1,144 | 1,375 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 804 | ||
Fund management fee, net (Note C) | 10,957 | 26,424 | ||
General and administrative expenses | 4,318 | 5,994 | ||
15,932 | 33,222 | |||
NET INCOME (LOSS) | $ | 125,627 | $ | (31,847) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | .05 | $ | (.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 38
2017 | 2016 | |||
Income | ||||
Interest income | $ | 3,593 | $ | 258 |
Other income | 7,020 | 18,350 | ||
10,613 | 18,608 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 2,100 | ||
Fund management fee, net (Note C) | 8,034 | 27,579 | ||
General and administrative expenses | 4,808 | 6,312 | ||
13,499 | 35,991 | |||
NET INCOME (LOSS) | $ | (2,886) | $ | 1,777,627 |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.00) | $ | .69 |
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 39
2017 | 2016 | |||
Income | ||||
Interest income | $ | 175 | $ | 103 |
Other income | - | 550 | ||
175 | 653 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 1,314 | 1,944 | ||
Fund management fee, net (Note C) | 1,712 | 13,623 | ||
General and administrative expenses | 34,495 | 5,308 | ||
37,521 | 20,875 | |||
NET INCOME (LOSS) | $ | (19,567) | $ | (20,222) |
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 40
2017 | 2016 | |||
Income | ||||
Interest income | $ | 830 | $ | 40 |
Other income | 2,262 | - | ||
3,092 | 40 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 785 | ||
Fund management fee, net (Note C) | 15,119 | 33,579 | ||
General and administrative expenses | 5,228 | 6,820 | ||
21,004 | 41,184 | |||
NET INCOME (LOSS) | $ | (17,912) | $ | (41,144) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.01) | $ | (.02) |
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 41
2017 | 2016 | |||
Income | ||||
Interest income | $ | 1,070 | $ | 137 |
Other income | 2,765 | - | ||
3,835 | 137 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 961 | ||
Fund management fee, net (Note C) | 37,849 | 49,440 | ||
General and administrative expenses | 7,821 | 8,370 | ||
46,327 | 58,771 | |||
NET INCOME (LOSS) | $ | 20,566 | $ | (58,634) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | .01 | $ | (.02) |
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 42
2017 | 2016 | |||
Income | ||||
Interest income | $ | 5,466 | $ | 607 |
Other income | 172 | 52 | ||
5,638 | 659 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 870 | ||
Fund management fee, net (Note C) | 35,049 | 42,506 | ||
General and administrative expenses | 6,073 | 7,558 | ||
41,779 | 50,934 | |||
NET INCOME (LOSS) | $ | 226,138 | $ | (50,275) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | .08 | $ | (.02) |
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 43
2017 | 2016 | |||
Income | ||||
Interest income | $ | 4,962 | $ | 455 |
Other income | - | - | ||
4,962 | 455 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 1,037 | ||
Fund management fee, net (Note C) | 54,247 | 53,693 | ||
General and administrative expenses | 7,497 | 9,444 | ||
62,401 | 64,174 | |||
NET INCOME (LOSS) | $ | 168,061 | $ | (63,719) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | .05 | $ | (.02) |
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 44
2017 | 2016 | |||
Income | ||||
Interest income | $ | 61 | $ | 4 |
Other income | 6,895 | 2,187 | ||
6,956 | 2,191 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 823 | ||
Fund management fee, net (Note C) | 31,705 | 60,012 | ||
General and administrative expenses | 5,377 | 6,755 | ||
37,739 | 67,590 | |||
NET INCOME (LOSS) | $ | (30,783) | $ | (65,399) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.01) | $ | (.02) |
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 45
2017 | 2016 | |||
Income | ||||
Interest income | $ | 854 | $ | 271 |
Other income | - | 388 | ||
854 | 659 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 5,278 | 1,852 | ||
Fund management fee, net (Note C) | 68,354 | 58,020 | ||
General and administrative expenses | 8,963 | 11,176 | ||
82,595 | 71,048 | |||
NET INCOME (LOSS) | $ | (81,741) | $ | (70,389) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.02) | $ | (.02) |
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 46
2017 | 2016 | |||
Income | ||||
Interest income | $ | 725 | $ | 99 |
Other income | 16,348 | - | ||
17,073 | 99 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 657 | 895 | ||
Fund management fee, net (Note C) | 45,368 | 47,745 | ||
General and administrative expenses | 6,490 | 8,118 | ||
52,515 | 56,758 | |||
NET INCOME (LOSS) | $ | (24,448) | $ | 336,524 |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.01) | $ | .11 |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)
2017 | 2016 | |||
Income | ||||
Interest income | $ | 80,976 | $ | 39,255 |
Other income | 254,126 | 219,790 | ||
335,102 | 259,045 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 581,933 | 648,169 | ||
Fund management fee, net (Note C) | 1,530,568 | 1,924,211 | ||
General and administrative expenses | 508,530 | 504,870 | ||
2,621,031 | 3,077,250 | |||
NET INCOME (LOSS) | $ | 9,020,023 | $ | 11,174,754 |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | .11 | $ | .13 |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)Series 20
2017 | 2016 | |||
Income | ||||
Interest income | $ | 350 | $ | 334 |
Other income | - | - | ||
350 | 334 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 14,281 | 13,141 | ||
Fund management fee, net (Note C) | 14,295 | 18,075 | ||
General and administrative expenses | 16,976 | 21,699 | ||
45,552 | 52,915 | |||
NET INCOME (LOSS) | $ | (3,202) | $ | 85,419 |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.00) | $ | .02 |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)Series 21
2017 | 2016 | |||
Income | ||||
Interest income | $ | 137 | $ | 486 |
Other income | 859 | 859 | ||
996 | 1,345 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 12,275 | 13,453 | ||
Fund management fee, net (Note C) | 5,603 | 6,103 | ||
General and administrative expenses | 40,874 | 14,649 | ||
58,752 | 34,205 | |||
NET INCOME (LOSS) | $ | 9,244 | $ | (32,860) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | .00 | $ | (.02) |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)Series 22
2017 | 2016 | |||
Income | ||||
Interest income | $ | 361 | $ | 291 |
Other income | - | - | ||
361 | 291 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 12,818 | 15,679 | ||
Fund management fee, net (Note C) | 21,409 | 21,406 | ||
General and administrative expenses | 14,441 | 17,703 | ||
48,668 | 54,788 | |||
NET INCOME (LOSS) | $ | (48,307) | $ | (54,497) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.02) | $ | (.02) |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)Series 23
2017 | 2016 | |||
Income | ||||
Interest income | $ | 3,364 | $ | 230 |
Other income | 5,932 | - | ||
9,296 | 230 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 16,579 | 19,409 | ||
Fund management fee, net (Note C) | 14,918 | 23,012 | ||
General and administrative expenses | 16,306 | 20,966 | ||
47,803 | 63,387 | |||
NET INCOME (LOSS) | $ | 951,455 | $ | (59,607) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | .28 | $ | (.02) |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)
Series 24
2017 | 2016 | |||
Income | ||||
Interest income | $ | 372 | $ | 297 |
Other income | 748 | 3,846 | ||
1,120 | 4,143 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 14,336 | 13,968 | ||
Fund management fee, net (Note C) | 34,929 | 32,407 | ||
General and administrative expenses | 13,969 | 17,215 | ||
63,234 | 63,590 | |||
NET INCOME (LOSS) | $ | (62,114) | $ | (59,447) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.03) | $ | (.03) |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)Series 25
2017 | 2016 | |||
Income | ||||
Interest income | $ | 143 | $ | 256 |
Other income | 10,178 | 10,178 | ||
10,321 | 10,434 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 13,993 | 12,762 | ||
Fund management fee, net (Note C) | 9,682 | 11,342 | ||
General and administrative expenses | 49,639 | 20,196 | ||
73,314 | 44,300 | |||
NET INCOME (LOSS) | $ | 34,406 | $ | (33,866) |
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 OPERATIONSNine Months Ended December 31,(Unaudited)Series 26
2017 | 2016 | |||
Income | ||||
Interest income | $ | 799 | $ | 802 |
Other income | 526 | 6,176 | ||
1,325 | 6,978 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 20,884 | 23,890 | ||
Fund management fee, net (Note C) | 56,858 | 65,190 | ||
General and administrative expenses | 18,331 | 25,561 | ||
96,073 | 114,641 | |||
NET INCOME (LOSS) | $ | (14,748) | $ | (89,163) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.00) | $ | (.02) |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)Series 27
2017 | 2016 | |||
Income | ||||
Interest income | $ | 19,993 | $ | 6,629 |
Other income | 17,473 | 6,000 | ||
37,466 | 12,629 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 79,116 | 104,403 | ||
Fund management fee, net (Note C) | 22,678 | 74,018 | ||
General and administrative expenses | 13,797 | 16,382 | ||
115,591 | 194,803 | |||
NET INCOME (LOSS) | $ | 3,213,442 | $ | 2,833,826 |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | 1.30 | $ | 1.14 |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)Series 28
2017 | 2016 | |||
Income | ||||
Interest income | $ | 872 | $ | 884 |
Other income | 446 | 7,976 | ||
1,318 | 8,860 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 16,372 | 20,687 | ||
Fund management fee, net (Note C) | 24,532 | 12,835 | ||
General and administrative expenses | 16,815 | 22,425 | ||
57,719 | 55,947 | |||
NET INCOME (LOSS) | $ | (56,401) | $ | (42,087) |
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 OPERATIONSNine Months Ended December 31,(Unaudited)Series 29
2017 | 2016 | |||
Income | ||||
Interest income | $ | 493 | $ | 606 |
Other income | - | - | ||
493 | 606 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 17,325 | 62,411 | ||
Fund management fee, net (Note C) | 58,253 | 53,985 | ||
General and administrative expenses | 17,560 | 22,389 | ||
93,138 | 138,785 | |||
NET INCOME (LOSS) | $ | (92,645) | $ | (138,179) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.02) | $ | (.03) |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)Series 30
2017 | 2016 | |||
Income | ||||
Interest income | $ | 700 | $ | 503 |
Other income | 1,243 | 1,243 | ||
1,943 | 1,746 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 15,688 | 19,058 | ||
Fund management fee, net (Note C) | (9,082) | 42,047 | ||
General and administrative expenses | 13,963 | 16,733 | ||
20,569 | 77,838 | |||
NET INCOME (LOSS) | $ | 247,358 | $ | (76,092) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | .09 | $ | (.03) |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)Series 31
2017 | 2016 | |||
Income | ||||
Interest income | $ | 4,736 | $ | 2,103 |
Other income | 1,116 | 590 | ||
5,852 | 2,693 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 26,529 | 24,365 | ||
Fund management fee, net (Note C) | 60,990 | 107,063 | ||
General and administrative expenses | 17,307 | 22,281 | ||
104,826 | 153,709 | |||
NET INCOME (LOSS) | $ | (53,974) | $ | 640,931 |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.01) | $ | .14 |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)Series 32
2017 | 2016 | |||
Income | ||||
Interest income | $ | 2,930 | $ | 1,143 |
Other income | 11,000 | 1,800 | ||
13,930 | 2,943 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 19,436 | 18,628 | ||
Fund management fee, net (Note C) | 63,474 | 115,780 | ||
General and administrative expenses | 21,626 | 22,959 | ||
104,536 | 157,367 | |||
NET INCOME (LOSS) | $ | 1,586,646 | $ | (105,524) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | .33 | $ | (.02) |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,
(Unaudited)Series 33
2017 | 2016 | |||
Income | ||||
Interest income | $ | 511 | $ | 1,258 |
Other income | 5,329 | 1,800 | ||
5,840 | 3,058 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 13,651 | 14,835 | ||
Fund management fee, net (Note C) | 23,109 | 41,524 | ||
General and administrative expenses | 13,345 | 15,875 | ||
50,105 | 72,234 | |||
NET INCOME (LOSS) | $ | 23,189 | $ | (69,176) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | .01 | $ | (.03) |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)Series 34
2017 | 2016 | |||
Income | ||||
Interest income | $ | 1,448 | $ | 1,114 |
Other income | 1,539 | 13,230 | ||
2,987 | 14,344 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 17,291 | 18,698 | ||
Fund management fee, net (Note C) | 32,897 | 29,061 | ||
General and administrative expenses | 15,123 | 18,676 | ||
65,311 | 66,435 | |||
NET INCOME (LOSS) | $ | (62,324) | $ | 578,600 |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.02) | $ | .16 |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)Series 35
2017 | 2016 | |||
Income | ||||
Interest income | $ | 9,031 | $ | 6,166 |
Other income | 2,818 | 4,893 | ||
11,849 | 11,059 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 16,632 | 18,070 | ||
Fund management fee, net (Note C) | 39,956 | 33,179 | ||
General and administrative expenses | 14,895 | 18,647 | ||
71,483 | 69,896 | |||
NET INCOME (LOSS) | $ | 2,593,894 | $ | 2,484,350 |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | .78 | $ | .75 |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)Series 36
2017 | 2016 | |||
Income | ||||
Interest income | $ | 5,764 | $ | 3,772 |
Other income | 3,968 | 6,425 | ||
9,732 | 10,197 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 17,448 | 16,697 | ||
Fund management fee, net (Note C) | 20,968 | (2,956) | ||
General and administrative expenses | 12,507 | 14,229 | ||
50,923 | 27,970 | |||
NET INCOME (LOSS) | $ | (41,191) | $ | 2,485,479 |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.02) | $ | 1.17 |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)
Series 37
2017 | 2016 | |||
Income | ||||
Interest income | $ | 4,368 | $ | 2,228 |
Other income | 16,657 | 4,811 | ||
21,025 | 7,039 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 16,628 | 13,932 | ||
Fund management fee, net (Note C) | 27,941 | 89,661 | ||
General and administrative expenses | 12,567 | 15,031 | ||
57,136 | 118,624 | |||
NET INCOME (LOSS) | $ | 104,304 | $ | 1,823,054 |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | .04 | $ | .72 |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)Series 38
2017 | 2016 | |||
Income | ||||
Interest income | $ | 6,938 | $ | 571 |
Other income | 17,566 | 66,141 | ||
24,504 | 66,712 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 18,459 | 18,795 | ||
Fund management fee, net (Note C) | 44,002 | 87,297 | ||
General and administrative expenses | 13,369 | 15,656 | ||
75,830 | 121,748 | |||
NET INCOME (LOSS) | $ | (51,326) | $ | 1,739,974 |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.02) | $ | .68 |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)
Series 39
2017 | 2016 | |||
Income | ||||
Interest income | $ | 870 | $ | 378 |
Other income | 386 | 1,210 | ||
1,256 | 1,588 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 19,295 | 17,935 | ||
Fund management fee, net (Note C) | 5,130 | 46,920 | ||
General and administrative expenses | 42,679 | 13,893 | ||
67,104 | 78,748 | |||
NET INCOME (LOSS) | $ | (48,069) | $ | 44,940 |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.02) | $ | .02 |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)
Series 40
2017 | 2016 | |||
Income | ||||
Interest income | $ | 923 | $ | 276 |
Other income | 5,172 | - | ||
6,095 | 276 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 22,111 | 21,422 | ||
Fund management fee, net (Note C) | 73,594 | 97,630 | ||
General and administrative expenses | 13,758 | 16,028 | ||
109,463 | 135,080 | |||
NET INCOME (LOSS) | $ | 485,584 | $ | (85,804) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | .18 | $ | (.03) |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)
Series 41
2017 | 2016 | |||
Income | ||||
Interest income | $ | 1,480 | $ | 492 |
Other income | 13,908 | 1,302 | ||
15,388 | 1,794 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 23,062 | 24,561 | ||
Fund management fee, net (Note C) | 141,487 | 153,988 | ||
General and administrative expenses | 17,027 | 18,513 | ||
181,576 | 197,062 | |||
NET INCOME (LOSS) | $ | 616,699 | $ | (195,268) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | .21 | $ | (.07) |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)
Series 42
2017 | 2016 | |||
Income | ||||
Interest income | $ | 6,138 | $ | 3,496 |
Other income | 15,960 | 472 | ||
22,098 | 3,968 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 20,336 | 26,102 | ||
Fund management fee, net (Note C) | 113,842 | 120,924 | ||
General and administrative expenses | 14,961 | 17,565 | ||
149,139 | 164,591 | |||
NET INCOME (LOSS) | $ | 135,238 | $ | (160,623) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | .05 | $ | (.06) |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)
Series 43
2017 | 2016 | |||
Income | ||||
Interest income | $ | 5,156 | $ | 3,623 |
Other income | 40,981 | 1,759 | ||
46,137 | 5,382 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 23,379 | 27,511 | ||
Fund management fee, net (Note C) | 150,203 | 135,689 | ||
General and administrative expenses | 17,057 | 20,940 | ||
190,639 | 184,140 | |||
NET INCOME (LOSS) | $ | 80,998 | $ | (178,758) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | .02 | $ | (.05) |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)
Series 44
2017 | 2016 | |||
Income | ||||
Interest income | $ | 74 | $ | 29 |
Other income | 18,760 | 16,818 | ||
18,834 | 16,847 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 24,884 | 15,786 | ||
Fund management fee, net (Note C) | 146,356 | 180,251 | ||
General and administrative expenses | 14,015 | 16,293 | ||
185,255 | 212,330 | |||
NET INCOME (LOSS) | $ | (166,421) | $ | (195,483) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.06) | $ | (.07) |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)
Series 45
2017 | 2016 | |||
Income | ||||
Interest income | $ | 1,752 | $ | 938 |
Other income | 27,833 | 32,262 | ||
29,585 | 33,200 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 48,168 | 30,784 | ||
Fund management fee, net (Note C) | 193,206 | 166,939 | ||
General and administrative expenses | 19,978 | 23,743 | ||
261,352 | 221,466 | |||
NET INCOME (LOSS) | $ | (231,767) | $ | (188,266) |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.06) | $ | (.05) |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF OPERATIONSNine Months Ended December 31,(Unaudited)
Series 46
2017 | 2016 | |||
Income | ||||
Interest income | $ | 1,273 | $ | 350 |
Other income | 33,728 | 29,999 | ||
35,001 | 30,349 | |||
Share of income from |
|
| ||
Expenses | ||||
Professional fees | 20,957 | 21,187 | ||
Fund management fee, net (Note C) | 139,338 | 160,841 | ||
General and administrative expenses | 15,645 | 18,623 | ||
175,940 | 200,651 | |||
NET INCOME (LOSS) | $ | (129,945) | $ | 222,881 |
Net income (loss) allocated to |
|
|
|
|
Net income (loss) allocated to general |
|
|
|
|
Net income (loss) per BAC | $ | (.04) | $ | .07 |
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, 2017(Unaudited)
| General |
| ||||||||||
|
|
|
|
|
| |||||||
Contributions | - | 1,070,891 | 1,070,891 | |||||||||
Distributions | (420,163) | - | (420,163) | |||||||||
Net income (loss) | 8,929,822 | 90,201 | 9,020,023 | |||||||||
Partners' capital (deficit), |
|
|
|
|
|
| ||||||
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, 2017(Unaudited)
| General |
| ||||
Series 20 | ||||||
Partners' capital (deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | (3,170) | (32) | (3,202) | |||
Partners' capital deficit), |
|
|
|
|
|
|
| General |
| ||||
Series 21 | ||||||
Partners' capital (deficit), |
|
|
|
|
|
|
Contributions | - | 1,070,891 | 1,070,891 | |||
Distributions | - | - | - | |||
Net income (loss) | 9,152 | 92 | 9,244 | |||
Partners' capital deficit), |
|
|
|
|
|
|
| General |
| ||||
Series 22 | ||||||
Partners' capital (deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | (47,824) | (483) | (48,307) | |||
Partners' capital deficit), |
|
|
|
|
|
|
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, 2017(Unaudited)
| General |
| ||||
Series 23 | ||||||
Partners' capital (deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | 941,940 | 9,515 | 951,455 | |||
Partners' capital (deficit), |
|
|
|
|
|
|
| General |
| ||||
Series 24 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | (61,493) | (621) | (62,114) | |||
Partners' capital deficit), |
|
|
|
|
|
|
| General |
| ||||
Series 25 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | (380,117) | - | (380,117) | |||
Net income (loss) | 34,062 | 344 | 34,406 | |||
Partners' capital deficit), |
|
|
|
|
|
|
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, 2017(Unaudited)
| General |
| ||||
Series 26 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | (14,601) | (147) | (14,748) | |||
Partners' capital deficit), |
|
|
|
|
|
|
| General |
| ||||
Series 27 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | 3,181,308 | 32,134 | 3,213,442 | |||
Partners' capital deficit), |
|
|
|
|
|
|
| General |
| ||||
Series 28 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | (55,837) | (564) | (56,401) | |||
Partners' capital deficit), |
|
|
|
|
|
|
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, 2017(Unaudited)
| General |
| ||||
Series 29 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | (91,719) | (926) | (92,645) | |||
Partners' capital deficit), |
|
|
|
|
|
|
| General |
| ||||
Series 30 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | 244,884 | 2,474 | 247,358 | |||
Partners' capital deficit), |
|
|
|
|
|
|
| General |
| ||||
Series 31 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | (53,434) | (540) | (53,974) | |||
Partners' capital deficit), |
|
|
|
|
|
|
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, 2017(Unaudited)
| General |
| ||||
Series 32 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | 1,570,780 | 15,866 | 1,586,646 | |||
Partners' capital deficit), |
|
|
|
|
|
|
| General |
| ||||
Series 33 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | 22,957 | 232 | 23,189 | |||
Partners' capital deficit), |
|
|
|
|
|
|
| General |
| ||||
Series 34 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | (61,701) | (623) | (62,324) | |||
Partners' capital deficit), |
|
|
|
|
|
|
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, 2017(Unaudited)
| General |
| ||||
Series 35 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | 2,567,955 | 25,939 | 2,593,894 | |||
Partners' capital deficit), |
|
|
|
|
|
|
| General |
| ||||
Series 36 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | (40,779) | (412) | (41,191) | |||
Partners' capital deficit), |
|
|
|
|
|
1,994,621 |
| General |
| ||||
Series 37 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | 103,261 | 1,043 | 104,304 | |||
Partners' capital deficit), |
|
|
|
|
|
|
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, 2017(Unaudited)
| General |
| ||||
Series 38 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | (50,813) | (513) | (51,326) | |||
Partners' capital deficit), |
|
|
|
|
|
|
| General |
| ||||
Series 39 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | (40,046) | - | (40,046) | |||
Net income (loss) | (47,588) | (481) | (48,069) | |||
Partners' capital deficit), |
|
|
|
|
|
|
| General |
| ||||
Series 40 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | 480,728 | 4,856 | 485,584 | |||
Partners' capital deficit), |
|
|
|
|
|
|
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, 2017(Unaudited)
| General |
| ||||
Series 41 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | 610,532 | 6,167 | 616,699 | |||
Partners' capital deficit), |
|
|
|
|
|
|
| General |
| ||||
Series 42 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | 133,886 | 1,352 | 135,238 | |||
Partners' capital deficit), |
|
|
|
|
|
|
| General |
| ||||
Series 43 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | 80,188 | 810 | 80,998 | |||
Partners' capital deficit), |
|
|
|
|
|
|
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, 2017(Unaudited)
| General |
| ||||
Series 44 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | (164,757) | (1,664) | (166,421) | |||
Partners' capital deficit), |
|
|
|
|
|
|
| General |
| ||||
Series 45 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | (229,449) | (2,318) | (231,767) | |||
Partners' capital deficit), |
|
|
|
|
|
|
| General |
| ||||
Series 46 | ||||||
Partners' capital deficit), |
|
|
|
|
|
|
Contributions | - | - | - | |||
Distributions | - | - | - | |||
Net income (loss) | (128,646) | (1,299) | (129,945) | |||
Partners' capital deficit), |
|
|
|
|
|
|
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | 9,020,023 | $ | 11,174,754 |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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) | - | ||
Net cash used in |
|
| ||
INCREASE (DECREASE) IN CASH AND |
|
| ||
Cash and cash equivalents, beginning | 27,209,997 | 21,728,069 | ||
Cash and cash equivalents, ending | $ | 28,521,120 | $ | 24,880,213 |
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 FLOWSNine Months Ended December 31,(Unaudited)Series 20
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | (3,202) | $ | 85,419 |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 286,465 | $ | 288,623 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital
7
BF Garden Tax Credit Fund IV L.P.STATEMENTS OF CASH FLOWSNine Months Ended December 31,
CONDENSED BALANCE SHEETS
(Unaudited)
Series 21
24
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | 9,244 | $ | (32,860) |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | - | $ | 250,462 |
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | | | | | | |
Cash and cash equivalents | |
| 0 | |
| 0 |
Other assets | |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 0 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,169,878 issued and 2,150,053 outstanding as of December 31, 2021 and March 31, 2021. | |
| 173,404 | |
| 173,404 |
General Partner | |
| (173,404) | |
| (173,404) |
| | | 0 | | | 0 |
| | $ | 0 | | $ | 0 |
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
8
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)Series 22BALANCE SHEETS
(Unaudited)
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | (48,307) | $ | (54,497) |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 225,666 | $ | 263,059 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)Series 23
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | 951,455 | $ | (59,607) |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 1,138,740 | $ | 188,162 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)Series 24
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | (62,114) | $ | (59,447) |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 365,067 | $ | 443,105 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)
Series 25
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | 34,406 | $ | (33,866) |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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) | - | ||
Net cash used in |
|
| ||
INCREASE (DECREASE) IN CASH AND |
|
| ||
Cash and cash equivalents, beginning | 344,461 | 395,797 | ||
Cash and cash equivalents, ending | $ | - | $ | 361,931 |
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | |
|
| |
|
|
Cash and cash equivalents | |
| 0 | |
| 0 |
Other assets | |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 0 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,026,109 issued and 3,016,809 outstanding as of December 31, 2021 and March 31, 2021. | |
| 219,815 | |
| 219,815 |
General Partner | |
| (219,815) | |
| (219,815) |
| | | 0 | | | 0 |
| | $ | 0 | | $ | 0 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,
(Unaudited)Series 26
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | (14,748) | $ | (89,163) |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 662,931 | $ | 719,239 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)Series 27
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | 3,213,442 | $ | 2,833,826 |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | 3,606,473 | 899,636 | ||
Cash and cash equivalents, ending | $ | 6,788,242 | $ | 3,737,462 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)Series 28
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | (56,401) | $ | (42,087) |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 756,082 | $ | 834,840 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,
(Unaudited)Series 29
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | (92,645) | $ | (138,179) |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 314,643 | $ | 388,719 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)Series 30
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | 247,358 | $ | (76,092) |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 519,393 | $ | 280,464 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)Series 31
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | (53,974) | $ | 640,931 |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 1,993,674 | $ | 1,366,745 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)Series 32
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | 1,586,646 | $ | (105,524) |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 1,313,748 | $ | 324,111 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)Series 33
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | 23,189 | $ | (69,176) |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 342,899 | $ | 346,473 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)Series 34
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | (62,324) | $ | 578,600 |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 393,160 | $ | 890,801 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)Series 35
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | 2,593,894 | $ | 2,484,350 |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 4,434,679 | $ | 2,792,763 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)Series 36
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | (41,191) | $ | 2,485,479 |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | 2,934,317 | 979,340 | ||
Cash and cash equivalents, ending | $ | 2,125,621 | $ | 2,929,662 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)
Series 37
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | 104,304 | $ | 1,823,054 |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | 2,096,039 | 340,689 | ||
Cash and cash equivalents, ending | $ | 523,132 | $ | 2,263,922 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital Tax Credit Fund IV L.P.CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)Series 38
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | (51,326) | $ | 1,739,974 |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 1,469,010 | $ | 2,144,899 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital9
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,
BALANCE SHEETS
(Unaudited)
Series 39
26
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | (48,069) | $ | 44,940 |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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) | - | ||
Net cash used in |
|
| ||
INCREASE (DECREASE) IN CASH AND |
|
| ||
Cash and cash equivalents, beginning | 1,248,898 | 313,691 | ||
Cash and cash equivalents, ending | $ | - | $ | 302,083 |
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | | | | | | |
Cash and cash equivalents | |
| 0 | |
| 531,027 |
Other assets | |
| 0 | |
| 75 |
| | $ | 0 | | $ | 531,102 |
| | | | | | |
LIABILITIES | |
| | |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 2,199 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 2,199 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,995,900 issued and 3,926,374 outstanding as of December 31, 2021 and March 31, 2021. | |
| 313,969 | |
| 841,956 |
General Partner | |
| (313,969) | |
| (313,053) |
| |
| 0 | |
| 528,903 |
| | $ | 0 | | $ | 531,102 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital10
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)
BALANCE SHEETS
(Unaudited)
Series 4027
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | | | | | | |
Cash and cash equivalents | |
| 0 | |
| 0 |
Other assets | |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 0 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,460,700 issued and 2,431,350 outstanding as of December 31, 2021 and March 31, 2021. | |
| 133,264 | |
| 133,264 |
General Partner | |
| (133,264) | |
| (133,264) |
| |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | 485,584 | $ | (85,804) |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 725,271 | $ | 286,284 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital11
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)
BALANCE SHEETS
(Unaudited)
Series 4128
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | | | | | | |
Cash and cash equivalents | |
| 0 | |
| 0 |
Other assets | |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 0 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 4,000,738 issued and 3,979,139 outstanding as of December 31, 2021 and March 31, 2021. | |
| 275,140 | |
| 275,140 |
General Partner | |
| (275,140) | |
| (275,140) |
| |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | 616,699 | $ | (195,268) |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 1,022,969 | $ | 204,205 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital
12
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,
BALANCE SHEETS
(Unaudited)
Series 42
29
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | 135,238 | $ | (160,623) |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 1,198,080 | $ | 1,111,094 |
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | |
|
| |
|
|
Cash and cash equivalents | |
| 117,979 | |
| 164,236 |
Other assets | |
| 2,500 | |
| 2,148 |
| | $ | 120,479 | | $ | 166,384 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 3,107,662 | |
| 3,127,627 |
Capital contributions payable | |
| 785 | |
| 785 |
| |
| 3,108,447 | |
| 3,128,412 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,991,800 issued and 3,911,725 outstanding as of December 31, 2021 and March 31, 2021. | |
| (2,619,442) | |
| (2,593,761) |
General Partner | |
| (368,526) | |
| (368,267) |
| |
| (2,987,968) | |
| (2,962,028) |
| | $ | 120,479 | | $ | 166,384 |
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 Capital13
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,(Unaudited)
BALANCE SHEETS
(Unaudited)
Series 4330
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 | | 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | |
|
| |
|
|
Cash and cash equivalents | |
| 0 | |
| 0 |
Other assets | |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 0 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,651,000 issued and 2,621,200 outstanding as of December 31, 2021 and March 31, 2021. | |
| (883,119) | |
| (883,119) |
General Partner | |
| 883,119 | |
| 883,119 |
| |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | 80,998 | $ | (178,758) |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 594,126 | $ | 678,442 |
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 Capital14
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended DecemberBALANCE SHEETS
(Unaudited)
Series 31(Unaudited)
Series 44
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | |
|
| |
|
|
Cash and cash equivalents | |
| 0 | |
| 0 |
Other assets | |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 0 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 4,417,857 issued and 4,375,757 outstanding as of December 31, 2021 and March 31, 2021. | |
| 353,529 | |
| 353,529 |
General Partner | |
| (353,529) | |
| (353,529) |
| |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | (166,421) | $ | (195,483) |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 84,859 | $ | 41,418 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital15
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,
BALANCE SHEETS
(Unaudited)
Series 4532
| | | | | | |
|
| December 31, |
| March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | |
|
| |
|
|
Cash and cash equivalents | |
| 0 | |
| 2,640,414 |
Other assets | |
| 0 | |
| 74 |
| | $ | 0 | | $ | 2,640,488 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 4,847 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 4,847 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 4,754,198 issued and 4,706,298 outstanding as of December 31, 2021 and March 31, 2021. | |
| 380,821 | |
| 3,015,649 |
General Partner | |
| (380,821) | |
| (380,008) |
| |
| 0 | |
| 2,635,641 |
| | $ | 0 | | $ | 2,640,488 |
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | (231,767) | $ | (188,266) |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 727,804 | $ | 791,302 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
Boston Capital16
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended December 31,
BALANCE SHEETS
(Unaudited)
Series 4633
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | |
|
| |
|
|
Cash and cash equivalents | |
| 0 | |
| 3,040,636 |
Other assets | |
| 0 | |
| 74 |
| | $ | 0 | | $ | 3,040,710 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 4,992 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 4,992 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,636,533 issued and 2,605,833 outstanding as of December 31, 2021 and March 31, 2021. | |
| 196,294 | |
| 3,231,141 |
General Partner | |
| (196,294) | |
| (195,423) |
| |
| 0 | |
| 3,035,718 |
| | $ | 0 | | $ | 3,040,710 |
2017 | 2016 | |||
Cash flows from operating activities: | ||||
Net income (loss) | $ | (129,945) | $ | 222,881 |
Adjustments to reconcile net income | ||||
Share of (income) from |
|
| ||
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 | ||
Cash and cash equivalents, ending | $ | 514,859 | $ | 649,943 |
| |||||
|
|
|
|
| |
|
|
|
|
| |
The accompanying notes are an integral part of this condensed statement
17
BF Garden Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 34
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | |
|
| |
|
|
Cash and cash equivalents | |
| 91,661 | |
| 129,067 |
Other assets | |
| 0 | |
| 74 |
| | $ | 91,661 | | $ | 129,141 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 2,483,645 | |
| 2,469,776 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 2,483,645 | |
| 2,469,776 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,529,319 issued and 3,474,319 outstanding as of December 31, 2021 and March 31, 2021. | |
| (2,067,675) | |
| (2,016,839) |
General Partner | |
| (324,309) | |
| (323,796) |
| |
| (2,391,984) | |
| (2,340,635) |
| | $ | 91,661 | | $ | 129,141 |
The accompanying notes are an integral part of this condensed statement
18
BF Garden Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 35
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | |
|
| |
|
|
Cash and cash equivalents | |
| 0 | |
| 0 |
Other assets | |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 0 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,300,463 issued and 3,277,913 outstanding as of December 31, 2021 and March 31, 2021. | |
| 223,088 | |
| 223,088 |
General Partner | |
| (223,088) | |
| (223,088) |
| |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
19
BF Garden Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 36
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | | | | | | |
Cash and cash equivalents | |
| 0 | |
| 0 |
Other assets | |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 0 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,106,838 issued and 2,083,704 outstanding as of December 31, 2021 and March 31, 2021. | |
| 148,221 | |
| 148,221 |
General Partner | |
| (148,221) | |
| (148,221) |
| |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
20
BF Garden Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 37
| | | | | | |
|
| December 31, |
| March 31, | ||
| | 2021 | | 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | | | | | | |
Cash and cash equivalents | |
| 0 | |
| 0 |
Other assets | |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 0 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,512,500 issued and 2,489,100 outstanding as of December 31, 2021 and March 31, 2021. | |
| 205,359 | |
| 205,359 |
General Partner | |
| (205,359) | |
| (205,359) |
| |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
21
BF Garden Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 38
| | | | | | |
| | December 31, | | March 31, | ||
| | 2021 | | 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | | | | | | |
Cash and cash equivalents | |
| 0 | |
| 0 |
Other assets | |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 0 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,543,100 issued and 2,536,200 outstanding as of December 31, 2021 and March 31, 2021. | |
| 188,889 | |
| 188,889 |
General Partner | |
| (188,889) | |
| (188,889) |
| |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
22
BF Garden Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 39
| | | | | | |
|
| December 31, |
| March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | | | | | | |
Cash and cash equivalents | |
| 0 | |
| 0 |
Other assets | |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 0 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,292,151 issued and 2,288,351 outstanding as of December 31, 2021 and March 31, 2021. | |
| 196,043 | |
| 196,043 |
General Partner | |
| (196,043) | |
| (196,043) |
| |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
23
BF Garden Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 40
| | | | | | |
|
| December 31, |
| March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | | | | | | |
Cash and cash equivalents | |
| 0 | |
| 0 |
Other assets | |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 0 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,630,256 issued and 2,611,356 outstanding as of December 31, 2021 and March 31, 2021. | |
| 216,900 | |
| 216,900 |
General Partner | |
| (216,900) | |
| (216,900) |
| |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
24
BF Garden Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 41
| | | | | | |
|
| December 31, |
| March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | |
|
| |
|
|
Cash and cash equivalents | |
| 334,163 | |
| 408,743 |
Other assets | |
| 0 | |
| 437 |
| | $ | 334,163 | | $ | 409,180 |
| | | | | | |
LIABILITIES | |
| | |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 1 |
Accounts payable affiliates (Note C) | |
| 2,717,527 | |
| 2,690,845 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 2,717,527 | |
| 2,690,846 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,891,626 issued and 2,865,176 outstanding as of December 31, 2021 and March 31, 2021. | |
| (2,110,362) | |
| (2,009,681) |
General Partner | |
| (273,002) | |
| (271,985) |
| |
| (2,383,364) | |
| (2,281,666) |
| | $ | 334,163 | | $ | 409,180 |
The accompanying notes are an integral part of this condensed statement
25
BF Garden Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 42
| | | | | | |
|
| December 31, |
| March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | | | | | | |
Cash and cash equivalents | |
| 2,377,116 | |
| 2,318,856 |
Other assets | |
| 501 | |
| 82 |
| | $ | 2,377,617 | | $ | 2,318,938 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 48,886 | |
| 36,736 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 48,886 | |
| 36,736 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,744,262 issued and 2,706,362 outstanding as of December 31, 2021 and March 31, 2021. | |
| 2,546,381 | |
| 2,500,317 |
General Partner | |
| (217,650) | |
| (218,115) |
| |
| 2,328,731 | |
| 2,282,202 |
| | $ | 2,377,617 | | $ | 2,318,938 |
The accompanying notes are an integral part of this condensed statement
26
BF Garden Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 43
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | | | | | | |
Cash and cash equivalents | |
| 0 | |
| 0 |
Other assets | |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 0 | |
| 0 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,637,987 issued and 3,617,987 outstanding as of December 31, 2021 and March 31, 2021. | |
| 306,854 | |
| 306,854 |
General Partner | |
| (306,854) | |
| (306,854) |
| |
| 0 | |
| 0 |
| | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
27
BF Garden Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 44
| | | | | | |
| | December 31, | | March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | | | | | | |
Cash and cash equivalents | |
| 1,238,678 | |
| 842,738 |
Other assets | |
| 0 | |
| 205 |
| | $ | 1,238,678 | | $ | 842,943 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 26 |
Accounts payable affiliates (Note C) | |
| 20,334 | |
| 399,489 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 20,334 | |
| 399,515 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,701,973 issued and 2,682,873 outstanding as of December 31, 2021 and March 31, 2021. | |
| 1,443,609 | |
| 676,442 |
General Partner | |
| (225,265) | |
| (233,014) |
| |
| 1,218,344 | |
| 443,428 |
| | $ | 1,238,678 | | $ | 842,943 |
The accompanying notes are an integral part of this condensed statement
28
BF Garden Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 45
| | | | | | |
| | December 31, |
| March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | | | | | | |
Cash and cash equivalents | |
| 297,031 | |
| 294,663 |
Other assets | |
| 0 | |
| 2,627 |
| | $ | 297,031 | | $ | 297,290 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 1,126,333 | |
| 1,744,673 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 1,126,333 | |
| 1,744,673 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 4,014,367 issued and 3,989,967 outstanding as of December 31, 2021 and March 31, 2021. | |
| (467,347) | |
| (1,079,247) |
General Partner | |
| (361,955) | |
| (368,136) |
| |
| (829,302) | |
| (1,447,383) |
| | $ | 297,031 | | $ | 297,290 |
The accompanying notes are an integral part of this condensed statement
29
BF Garden Tax Credit Fund IV L.P.
CONDENSED BALANCE SHEETS
(Unaudited)
Series 46
| | | | | | |
|
| December 31, |
| March 31, | ||
|
| 2021 |
| 2021 | ||
| | | | | | |
INVESTMENTS IN OPERATING PARTNERSHIPS | | $ | 0 | | $ | 0 |
| | | | | | |
OTHER ASSETS | | | | | | |
Cash and cash equivalents | |
| 458,694 | |
| 449,205 |
Other assets | |
| 3,788 | |
| 5,033 |
| | $ | 462,482 | | $ | 454,238 |
| | | | | | |
LIABILITIES | |
|
| |
|
|
Accounts payable and accrued expenses | | $ | 0 | | $ | 0 |
Accounts payable affiliates (Note C) | |
| 1,977,705 | |
| 2,182,886 |
Capital contributions payable | |
| 0 | |
| 0 |
| |
| 1,977,705 | |
| 2,182,886 |
| | | | | | |
PARTNERS’ CAPITAL (DEFICIT) | |
|
| |
|
|
Assignees | |
|
| |
|
|
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,980,998 issued and 2,965,635 outstanding as of December 31, 2021 and March 31, 2021. | |
| (1,237,329) | |
| (1,448,620) |
General Partner | |
| (277,894) | |
| (280,028) |
| |
| (1,515,223) | |
| (1,728,648) |
| | $ | 462,482 | | $ | 454,238 |
The accompanying notes are an integral part of this condensed statement
30
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 1,488 | | $ | 1,478 |
Other income | |
| 29,678 | |
| 14,602 |
| |
| 31,166 | |
| 16,080 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 239,636 | |
| 935,865 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 32,435 | |
| 83,296 |
Fund management fee, net (Note C) | |
| 87,006 | |
| 183,794 |
General and administrative expenses | |
| 324,959 | |
| 46,701 |
| |
| 444,400 | |
| 313,791 |
| | | | | | |
NET INCOME (LOSS) | | $ | (173,598) | | $ | 638,154 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | (171,862) | | $ | 631,773 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | (1,736) | | $ | 6,381 |
| | | | | | |
Net income (loss) per BAC | | $ | (.00) | | $ | .01 |
The accompanying notes are an integral part of this condensed statement
31
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 20
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
32
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 21
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
33
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 22
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
34
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 23
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| |
| | |
| |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
| | |
| |
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
35
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 24
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
36
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 25
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
37
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 26
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 94 |
Other income | |
| 0 | |
| 0 |
| | | 0 | | | 94 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 18,800 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 5,240 |
Fund management fee, net (Note C) | |
| 0 | |
| 4,281 |
General and administrative expenses | |
| 74,978 | |
| 5,489 |
| |
| 74,978 | |
| 15,010 |
| | | | | | |
NET INCOME (LOSS) | | $ | (74,978) | | $ | 3,884 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | (74,228) | | $ | 3,845 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | (750) | | $ | 39 |
| | | | | | |
Net income (loss) per BAC | | $ | (.02) | | $ | .00 |
The accompanying notes are an integral part of this condensed statement
38
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 27
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
39
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 28
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
40
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 29
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 36 | | $ | 29 |
Other income | |
| 0 | |
| 0 |
| | | 36 | | | 29 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 35,000 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 4,635 | |
| 4,972 |
Fund management fee, net (Note C) | |
| 1,128 | |
| 4,629 |
General and administrative expenses | |
| 15,791 | |
| 5,303 |
| |
| 21,554 | |
| 14,904 |
| | | | | | |
NET INCOME (LOSS) | | $ | (21,518) | | $ | 20,125 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | (21,303) | | $ | 19,924 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | (215) | | $ | 201 |
| | | | | | |
Net income (loss) per BAC | | $ | (.01) | | $ | .01 |
The accompanying notes are an integral part of this condensed statement
41
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 30
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| |
| 0 | | | 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
42
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 31
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
| | |
| |
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
43
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 32
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 35 |
Other income | |
| 0 | |
| 0 |
| |
| 0 | |
| 35 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 79,208 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 5,026 |
Fund management fee, net (Note C) | |
| 0 | |
| 15,132 |
General and administrative expenses | |
| 73,421 | |
| 5,465 |
| |
| 73,421 | |
| 25,623 |
| | | | | | |
NET INCOME (LOSS) | | $ | (73,421) | | $ | 53,620 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | (72,686) | | $ | 53,084 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | (735) | | $ | 536 |
| | | | | | |
Net income (loss) per BAC | | $ | (.02) | | $ | .01 |
The accompanying notes are an integral part of this condensed statement
44
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 33
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 98 |
Other income | |
| 0 | |
| 0 |
| |
| 0 | |
| 98 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 3,996 |
Fund management fee, net (Note C) | |
| 0 | |
| 9,777 |
General and administrative expenses | |
| 87,548 | |
| 3,279 |
| |
| 87,548 | |
| 17,052 |
| | | | | | |
NET INCOME (LOSS) | | $ | (87,548) | | $ | (16,954) |
| | | | | | |
Net income (loss) allocated to assignees | | $ | (86,673) | | $ | (16,784) |
| | | | | | |
Net income (loss) allocated to general partner | | $ | (875) | | $ | (170) |
| | | | | | |
Net income (loss) per BAC | | $ | (.03) | | $ | (.01) |
The accompanying notes are an integral part of this condensed statement
45
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 34
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 28 | | $ | 24 |
Other income | |
| 0 | | | 0 |
| |
| 28 | | | 24 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 20,800 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 4,635 | | | 4,463 |
Fund management fee, net (Note C) | |
| 4,623 | | | 4,825 |
General and administrative expenses | |
| 12,716 | | | 4,266 |
| |
| 21,974 | | | 13,554 |
| | | | | | |
NET INCOME (LOSS) | | $ | (21,946) | | $ | 7,270 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | (21,727) | | $ | 7,197 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | (219) | | $ | 73 |
| | | | | | |
Net income (loss) per BAC | | $ | (.01) | | $ | .01 |
The accompanying notes are an integral part of this condensed statement
46
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 35
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | | | 0 |
| |
| 0 | | | 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | | | 0 |
Fund management fee, net (Note C) | |
| 0 | | | 0 |
General and administrative expenses | |
| 0 | | | 0 |
| |
| 0 | | | 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
47
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 36
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | | | 0 |
| |
| 0 | | | 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | | | 0 |
Fund management fee, net (Note C) | |
| 0 | | | 0 |
General and administrative expenses | |
| 0 | | | 0 |
| |
| 0 | | | 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
48
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 37
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
49
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 38
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | | | 0 |
Fund management fee, net (Note C) | |
| 0 | | | 0 |
General and administrative expenses | |
| 0 | | | 0 |
| |
| 0 | | | 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
50
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 39
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
51
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 40
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | | | 0 |
| |
| 0 | | | 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | | | 0 |
Fund management fee, net (Note C) | |
| 0 | | | 0 |
General and administrative expenses | |
| 0 | | | 0 |
| |
| 0 | | | 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
52
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 41
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 100 | | $ | 66 |
Other income | |
| 0 | |
| 0 |
| |
| 100 | |
| 66 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 18,000 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 4,633 | |
| 4,629 |
Fund management fee, net (Note C) | |
| 18,179 | |
| 26,529 |
General and administrative expenses | |
| 11,016 | |
| 3,552 |
| |
| 33,828 | |
| 34,710 |
| | | | | | |
NET INCOME (LOSS) | | $ | (33,728) | | $ | (16,644) |
| | | | | | |
Net income (loss) allocated to assignees | | $ | (33,391) | | $ | (16,478) |
| | | | | | |
Net income (loss) allocated to general partner | | $ | (337) | | $ | (166) |
| | | | | | |
Net income (loss) per BAC | | $ | (.01) | | $ | (.01) |
The accompanying notes are an integral part of this condensed statement
53
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 42
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 718 | | $ | 289 |
Other income | |
| 0 | |
| 14,298 |
| |
| 718 | |
| 14,587 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | | | 722,454 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 4,633 | |
| 4,367 |
Fund management fee, net (Note C) | |
| 4,050 | |
| 11,801 |
General and administrative expenses | |
| 11,885 | |
| 3,236 |
| |
| 20,568 | |
| 19,404 |
| | | | | | |
NET INCOME (LOSS) | | $ | (19,850) | | $ | 717,637 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | (19,651) | | $ | 710,461 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | (199) | | $ | 7,176 |
| | | | | | |
Net income (loss) per BAC | | $ | (.01) | | $ | .26 |
The accompanying notes are an integral part of this condensed statement
54
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 43
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 0 | | $ | 242 |
Other income | |
| 0 | |
| 304 |
| |
| 0 | |
| 546 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 79,835 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 5,075 |
Fund management fee, net (Note C) | |
| 0 | |
| 3,940 |
General and administrative expenses | |
| 0 | |
| 4,188 |
| |
| 0 | |
| 13,203 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 67,178 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 66,507 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 671 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | .02 |
The accompanying notes are an integral part of this condensed statement
55
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 44
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 374 | | $ | 49 |
Other income | |
| 0 | |
| 0 |
| |
| 374 | |
| 49 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| (83,058) |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 4,634 | |
| 4,427 |
Fund management fee, net (Note C) | |
| 7,935 | |
| 29,565 |
General and administrative expenses | |
| 10,371 | |
| 3,456 |
| |
| 22,940 | |
| 37,448 |
| | | | | | |
NET INCOME (LOSS) | | $ | (22,566) | | $ | (120,457) |
| | | | | | |
Net income (loss) allocated to assignees | | $ | (22,340) | | $ | (119,253) |
| | | | | | |
Net income (loss) allocated to general partner | | $ | (226) | | $ | (1,204) |
| | | | | | |
Net income (loss) per BAC | | $ | (.01) | | $ | (.04) |
The accompanying notes are an integral part of this condensed statement
56
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 45
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 101 | | $ | 91 |
Other income | |
| 0 | |
| 0 |
| |
| 101 | |
| 91 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 239,636 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 4,632 | |
| 35,429 |
Fund management fee, net (Note C) | |
| 15,016 | |
| 28,713 |
General and administrative expenses | |
| 14,519 | |
| 4,637 |
| |
| 34,167 | |
| 68,779 |
| | | | | | |
NET INCOME (LOSS) | | $ | 205,570 | | $ | (68,688) |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 203,514 | | $ | (68,001) |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 2,056 | | $ | (687) |
| | | | | | |
Net income (loss) per BAC | | $ | .05 | | $ | (.02) |
The accompanying notes are an integral part of this condensed statement
57
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)
Series 46
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 131 | | $ | 461 |
Other income | |
| 29,678 | |
| 0 |
| |
| 29,809 | |
| 461 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 44,826 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 4,633 | |
| 5,672 |
Fund management fee, net (Note C) | |
| 36,075 | |
| 44,602 |
General and administrative expenses | |
| 12,714 | |
| 3,830 |
| |
| 53,422 | |
| 54,104 |
| | | | | | |
NET INCOME (LOSS) | | $ | (23,613) | | $ | (8,817) |
| | | | | | |
Net income (loss) allocated to assignees | | $ | (23,377) | | $ | (8,729) |
| | | | | | |
Net income (loss) allocated to general partner | | $ | (236) | | $ | (88) |
| | | | | | |
Net income (loss) per BAC | | $ | (.01) | | $ | (.00) |
The accompanying notes are an integral part of this condensed statement
58
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 6,686 | | $ | 9,373 |
Other income | |
| 95,187 | |
| 132,610 |
| | | 101,873 | | | 141,983 |
| | |
| | |
|
Gain (Loss) on disposition of Operating Partnerships | |
| 2,032,167 | |
| 1,366,857 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 166,338 | |
| 300,336 |
Fund management fee, net (Note C) | |
| 273,219 | |
| 555,480 |
General and administrative expenses | |
| 480,472 | |
| 205,223 |
| |
| 920,029 | |
| 1,061,039 |
| | |
| | |
|
NET INCOME (LOSS) | | $ | 1,214,011 | | $ | 447,801 |
| | |
| | |
|
Net income (loss) allocated to assignees | | $ | 1,201,871 | | $ | 443,324 |
| | | | | |
|
Net income (loss) allocated to general partner | | $ | 12,140 | | $ | 4,477 |
| | | | | | |
Net income (loss) per BAC | | $ | .01 | | $ | .01 |
The accompanying notes are an integral part of this condensed statement
59
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 20
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| | | | | |
|
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | | | | | |
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | |
|
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
60
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 21
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | | | | | | |
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| |
| | |
| |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
61
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 22
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| | | | | |
|
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | |
|
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
62
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 23
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | | | | | | |
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
63
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 24
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| | |
| | |
|
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | |
| | |
|
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | |
| | |
|
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | |
| | |
|
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | |
| | |
|
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | |
| | |
|
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
64
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 25
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| | |
| | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | |
| | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | |
| | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | |
| | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | |
| | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
65
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 26
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 261 | | $ | 938 |
Other income | |
| — | |
| — |
| |
| 261 | |
| 938 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | |
| 20,845 | |
| 18,800 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 11,719 | |
| 23,408 |
Fund management fee, net (Note C) | |
| 3,665 | |
| 12,845 |
General and administrative expenses | |
| 97,302 | |
| 20,991 |
| | | 112,686 | | | 57,244 |
| | | | | | |
NET INCOME (LOSS) | | $ | (91,580) | | $ | (37,506) |
| |
|
| |
| |
Net income (loss) allocated to assignees | | $ | (90,664) | | $ | (37,131) |
| |
|
| |
|
|
Net income (loss) allocated to general partner | | $ | (916) | | $ | (375) |
| |
|
| |
|
|
Net income (loss) per BAC | | $ | (.02) | | $ | (.01) |
The accompanying notes are an integral part of this condensed statement
66
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 27
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | | | 0 |
| |
| 0 | |
| 0 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| |
|
| |
|
|
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| |
|
| |
|
|
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| |
|
| |
| |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
67
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 28
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| | | 0 | |
| 0 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| |
|
| |
|
|
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| |
|
| |
|
|
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
68
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 29
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Income | | | | | | |
Interest income | | $ | 111 | | $ | 279 |
Other income | |
| — | |
| — |
| |
| 111 | |
| 279 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | |
| 29,999 | |
| 44,500 |
| |
|
| |
|
|
Expenses | |
|
| |
|
|
Professional fees | |
| 18,029 | |
| 18,095 |
Fund management fee, net (Note C) | |
| 3,215 | |
| 18,134 |
General and administrative expenses | |
| 34,806 | |
| 19,230 |
| | | 56,050 | | | 55,459 |
| |
|
| |
|
|
NET INCOME (LOSS) | | $ | (25,940) | | $ | (10,680) |
| |
|
| |
|
|
Net income (loss) allocated to assignees | | $ | (25,681) | | $ | (10,573) |
| |
|
| |
|
|
Net income (loss) allocated to general partner | | $ | (259) | | $ | (107) |
| |
|
| |
|
|
Net income (loss) per BAC | | $ | (.01) | | $ | (.00) |
The accompanying notes are an integral part of this condensed statement
69
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 30
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | | | 0 | |
| 0 |
| | | 0 | | | 0 |
| |
|
| | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | |
|
|
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
70
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 31
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
71
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 32
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 1,321 | | $ | 350 |
Other income | |
| — | |
| 10,008 |
| |
| 1,321 | |
| 10,358 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | |
| 23,823 | |
| 79,208 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 11,719 | |
| 19,399 |
Fund management fee, net (Note C) | |
| 4,091 | |
| 38,896 |
General and administrative expenses | |
| 90,598 | |
| 20,930 |
| | | 106,408 | | | 79,225 |
| | | | | | |
NET INCOME (LOSS) | | $ | (81,264) | | $ | 10,341 |
| |
|
| |
|
|
Net income (loss) allocated to assignees | | $ | (80,451) | | $ | 10,238 |
| |
|
| |
|
|
Net income (loss) allocated to general partner | | $ | (813) | | $ | 103 |
| |
| | |
| |
Net income (loss) per BAC | | $ | (.02) | | $ | .00 |
The accompanying notes are an integral part of this condensed statement
72
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 33
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 1,524 | | $ | 794 |
Other income | |
| — | |
| 10,008 |
| |
| 1,524 | |
| 10,802 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | |
| 23,823 | |
| — |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 10,544 | |
| 16,464 |
Fund management fee, net (Note C) | |
| 4,334 | |
| 22,831 |
General and administrative expenses | |
| 97,578 | |
| 16,901 |
| | | 112,456 | | | 56,196 |
| | | | | | |
NET INCOME (LOSS) | | $ | (87,109) | | $ | (45,394) |
| |
|
| |
|
|
Net income (loss) allocated to assignees | | $ | (86,238) | | $ | (44,940) |
| |
| | |
| |
Net income (loss) allocated to general partner | | $ | (871) | | $ | (454) |
| |
| | |
|
|
Net income (loss) per BAC | | $ | (.03) | | $ | (.02) |
The accompanying notes are an integral part of this condensed statement
73
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 34
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 86 | | $ | 310 |
Other income | |
| — | |
| — |
| |
| 86 | |
| 310 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | |
| — | |
| 20,800 |
| |
|
| |
|
|
Expenses | |
|
| |
|
|
Professional fees | |
| 15,179 | |
| 21,024 |
Fund management fee, net (Note C) | |
| 10,869 | |
| 15,279 |
General and administrative expenses | |
| 25,387 | |
| 18,710 |
| | | 51,435 | | | 55,013 |
| | | | | | |
NET INCOME (LOSS) | | $ | (51,349) | | $ | (33,903) |
| |
|
| |
|
|
Net income (loss) allocated to assignees | | $ | (50,836) | | $ | (33,564) |
| |
|
| |
|
|
Net income (loss) allocated to general partner | | $ | (513) | | $ | (339) |
| |
| | |
| |
Net income (loss) per BAC | | $ | (.01) | | $ | (.01) |
The accompanying notes are an integral part of this condensed statement
74
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 35
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| |
|
| |
|
|
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| |
| | |
| |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
75
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 36
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| |
| | |
| |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
76
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 37
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| |
|
| |
|
|
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
77
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 38
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| |
|
| |
|
|
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| |
| | |
| |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| |
| | |
| |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
78
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 39
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
79
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 40
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 0 | | $ | 0 |
Other income | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 0 |
| |
|
| |
|
|
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 0 |
Fund management fee, net (Note C) | |
| 0 | |
| 0 |
General and administrative expenses | |
| 0 | |
| 0 |
| | | 0 | | | 0 |
| |
|
| |
|
|
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) allocated to assignees | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) allocated to general partner | | $ | 0 | | $ | 0 |
| |
|
| |
|
|
Net income (loss) per BAC | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
80
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 41
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 283 | | $ | 585 |
Other income | |
| — | |
| 3,392 |
| |
| 283 | |
| 3,977 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | |
| — | |
| 64,500 |
| |
|
| |
|
|
Expenses | |
| | |
|
|
Professional fees | |
| 21,552 | |
| 23,467 |
Fund management fee, net (Note C) | |
| 58,367 | |
| 78,321 |
General and administrative expenses | |
| 22,062 | |
| 17,609 |
| | | 101,981 | | | 119,397 |
| |
|
| |
|
|
NET INCOME (LOSS) | | $ | (101,698) | | $ | (50,920) |
| |
|
| |
|
|
Net income (loss) allocated to assignees | | $ | (100,681) | | $ | (50,411) |
| | | | | | |
Net income (loss) allocated to general partner | | $ | (1,017) | | $ | (509) |
| |
|
| |
|
|
Net income (loss) per BAC | | $ | (.04) | | $ | (.02) |
The accompanying notes are an integral part of this condensed statement
81
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 42
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 1,839 | | $ | 1,818 |
Other income | |
| 868 | | | 14,298 |
| | | 2,707 | | | 16,116 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | |
| 94,182 | |
| 722,454 |
| | | | | | |
Expenses | |
|
| |
|
|
Professional fees | |
| 19,202 | |
| 24,791 |
Fund management fee, net (Note C) | |
| 9,650 | |
| 50,320 |
General and administrative expenses | |
| 21,508 | |
| 16,920 |
| | | 50,360 | | | 92,031 |
| |
|
| |
|
|
NET INCOME (LOSS) | | $ | 46,529 | | $ | 646,539 |
| |
|
| |
|
|
Net income (loss) allocated to assignees | | $ | 46,064 | | $ | 640,074 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 465 | | $ | 6,465 |
| |
|
| |
|
|
Net income (loss) per BAC | | $ | .02 | | $ | .24 |
The accompanying notes are an integral part of this condensed statement
82
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 43
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 0 | | $ | 2,054 |
Other income | |
| 0 | |
| 1,542 |
| | | 0 | | | 3,596 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | |
| 0 | |
| 186,635 |
| |
|
| |
|
|
Expenses | |
|
| |
|
|
Professional fees | |
| 0 | |
| 27,629 |
Fund management fee, net (Note C) | |
| 0 | |
| 34,194 |
General and administrative expenses | |
| 0 | |
| 18,762 |
| | | 0 | | | 80,585 |
| |
|
| |
|
|
NET INCOME (LOSS) | | $ | 0 | | $ | 109,646 |
| |
|
| |
|
|
Net income (loss) allocated to assignees | | $ | 0 | | $ | 108,550 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 0 | | $ | 1,096 |
| |
| | |
|
|
Net income (loss) per BAC | | $ | 0 | | $ | .03 |
The accompanying notes are an integral part of this condensed statement
83
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 44
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 658 | | $ | 576 |
Other income | |
| 25,468 | |
| 11,054 |
| | | 26,126 | | | 11,630 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | |
| 815,747 | |
| (83,058) |
| |
|
| |
|
|
Expenses | |
|
| |
|
|
Professional fees | |
| 15,676 | |
| 21,710 |
Fund management fee, net (Note C) | |
| 27,476 | |
| 80,701 |
General and administrative expenses | |
| 23,805 | |
| 17,268 |
| | | 66,957 | | | 119,679 |
| |
|
| |
|
|
NET INCOME (LOSS) | | $ | 774,916 | | $ | (191,107) |
| |
|
| |
| |
Net income (loss) allocated to assignees | | $ | 767,167 | | $ | (189,196) |
| |
|
| |
|
|
Net income (loss) allocated to general partner | | $ | 7,749 | | $ | (1,911) |
| |
|
| |
|
|
Net income (loss) per BAC | | $ | .29 | | $ | (.07) |
The accompanying notes are an integral part of this condensed statement
84
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 45
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 246 | | $ | 597 |
Other income | |
| 29,480 | |
| 31,189 |
| |
| 29,726 | |
| 31,786 |
| | | | | | |
Gain (Loss) on disposition of Operating Partnerships | |
| 691,381 | |
| 199,692 |
| |
| | |
| |
Expenses | |
|
| |
|
|
Professional fees | |
| 21,870 | |
| 75,026 |
Fund management fee, net (Note C) | |
| 42,835 | |
| 73,285 |
General and administrative expenses | |
| 38,321 | |
| 19,698 |
| |
| 103,026 | |
| 168,009 |
| |
|
| |
|
|
NET INCOME (LOSS) | | $ | 618,081 | | $ | 63,469 |
| |
|
| |
|
|
Net income (loss) allocated to assignees | | $ | 611,900 | | $ | 62,834 |
| | | | | | |
Net income (loss) allocated to general partner | | $ | 6,181 | | $ | 635 |
| |
|
| |
|
|
Net income (loss) per BAC | | $ | .15 | | $ | .02 |
The accompanying notes are an integral part of this condensed statement
85
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)
Series 46
| | | | | | |
|
| 2021 |
| 2020 | ||
Income | | | | | | |
Interest income | | $ | 357 | | $ | 1,072 |
Other income | |
| 39,371 | |
| 51,119 |
| | | 39,728 | | | 52,191 |
| |
|
| |
|
|
Gain (Loss) on disposition of Operating Partnerships | | | 332,367 | | | 113,326 |
| |
|
| |
|
|
Expenses | |
|
| |
|
|
Professional fees | |
| 20,848 | |
| 29,323 |
Fund management fee, net (Note C) | |
| 108,717 | |
| 130,674 |
General and administrative expenses | |
| 29,105 | |
| 18,204 |
| | | 158,670 | | | 178,201 |
| |
| | |
| |
NET INCOME (LOSS) | | $ | 213,425 | | $ | (12,684) |
| |
|
| |
|
|
Net income (loss) allocated to assignees | | $ | 211,291 | | $ | (12,557) |
| |
|
| |
|
|
Net income (loss) allocated to general partner | | $ | 2,134 | | $ | (127) |
| | | | | | |
Net income (loss) per BAC | | $ | .07 | | $ | (.00) |
The accompanying notes are an integral part of this condensed statement
86
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
| | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 | | $ | (1,450,880) | | $ | (383,588) | | $ | (1,834,468) |
| | | | | | | | | |
Net income (loss) | | | 317,421 | | | 3,206 | | | 320,627 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 | | | (1,133,459) | | | (380,382) | | | (1,513,841) |
| | | | | | | | | |
Net income (loss) | | | 1,056,312 | | | 10,670 | | | 1,066,982 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | (77,147) | | | (369,712) | | | (446,859) |
| | | | | | | | | |
Distribution | | | (5,940,309) | | | — | | | (5,940,309) |
| | | | | | | | | |
Net income (loss) | | | (171,862) | | | (1,736) | | | (173,598) |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | (6,189,318) | | $ | (371,448) | | $ | (6,560,766) |
The accompanying notes are an integral part of this condensed statement
87
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
| | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | (6,042,833) | | $ | (444,787) | | $ | (6,487,620) |
| | | | | | | | | |
Net income (loss) | | | (189,479) | | | (1,915) | | | (191,394) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | (6,232,312) | | | (446,702) | | | (6,679,014) |
| | | | | | | | | |
Net income (loss) | | | 1,030 | | | 11 | | | 1,041 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | (6,231,282) | | | (446,691) | | | (6,677,973) |
| | | | | | | | | |
Net income (loss) | | | 631,773 | | | 6,381 | | | 638,154 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | (5,599,509) | | $ | (440,310) | | $ | (6,039,819) |
The accompanying notes are an integral part of this condensed statement
88
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 20 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | (754,767) |
| $ | 754,767 |
| $ | — |
| | | | | | | | | |
Net income (loss) |
| | — |
| | — |
| | — |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 |
| | (754,767) |
| | 754,767 |
| | — |
| | | | | | | | | |
Net income (loss) |
| | — |
| | — |
| | — |
| | | | | | | | | |
Partners' capital (deficit), September 30,2021 | | | (754,767) | | | 754,767 | | | — |
| | | | | | | | | |
Distribution | | | — | | | — | | | — |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | — |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | (754,767) | | $ | 754,767 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
89
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 20 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | (754,767) | | $ | 754,767 | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | (754,767) | | | 754,767 | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | (754,767) | | | 754,767 | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | (754,767) | | $ | 754,767 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
90
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 21 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | (898,231) |
| $ | 898,231 |
| $ | 0 |
| | | | | | | | | |
Net income (loss) |
| | 0 |
| | 0 |
| | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 |
| | (898,231) |
| | 898,231 |
| | 0 |
| | | | | | | | | |
Net income (loss) |
| | 0 |
| | 0 |
| | 0 |
| | | | | | | | | |
Partners' capital (deficit), September 30,2021 | | | (898,231) | | | 898,231 | | | 0 |
| | | | | | | | | |
Distribution | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | (898,231) | | $ | 898,231 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
91
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 21 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | (898,231) | | $ | 898,231 | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | (898,231) | | | 898,231 | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | (898,231) | | | 898,231 | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | (898,231) | | $ | 898,231 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
92
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 22 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | (2,448,362) |
| $ | 2,448,362 |
| $ | 0 |
| | | | | | | | | |
Net income (loss) |
| | 0 |
| | 0 |
| | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 |
| | (2,448,362) |
| | 2,448,362 |
| | 0 |
| | | | | | | | | |
Net income (loss) |
| | 0 |
| | 0 |
| | 0 |
| | | | | | | | | |
Partners' capital (deficit), September 30,2021 | | | (2,448,362) | | | 2,448,362 | | | 0 |
| | | | | | | | | |
Distribution | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | (2,448,362) | | $ | 2,448,362 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
93
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 22 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | (2,448,362) | | $ | 2,448,362 | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | (2,448,362) | | | 2,448,362 | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners' capital (deficit), September 30,2020 | | | (2,448,362) | | | 2,448,362 | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | (2,448,362) | | $ | 2,448,362 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
94
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 23 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | (224,264) |
| $ | 224,264 |
| $ | 0 |
| | | | | | | | | |
Net income (loss) |
| | 0 |
| | 0 |
| | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 |
| | (224,264) |
| | 224,264 |
| | 0 |
| | | | | | | | | |
Net income (loss) |
| | 0 |
| | 0 |
| | 0 |
| | | | | | | | | |
Partners' capital (deficit), September 30,2021 | | | (224,264) | | | 224,264 | | | 0 |
| | | | | | | | | |
Distribution | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | (224,264) | | $ | 224,264 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
95
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 23 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | (224,264) | | $ | 224,264 | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | (224,264) | | | 224,264 | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | (224,264) | | | 224,264 | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | (224,264) | | $ | 224,264 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
96
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 24 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | 173,404 |
| $ | (173,404) |
| $ | 0 |
| | | | | | | | | |
Net income (loss) |
| | 0 |
| | 0 |
| | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 |
| | 173,404 |
| | (173,404) | | | 0 |
| | | | | | | | | |
Net income (loss) |
| | 0 |
| | 0 |
| | 0 |
| | | | | | | | | |
Partners' capital (deficit), September 30,2021 | | | 173,404 | | | (173,404) | | | 0 |
| | | | | | | | | |
Distribution | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | 173,404 | | $ | (173,404) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
97
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 24 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | 173,404 | | $ | (173,404) | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | 173,404 | | | (173,404) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | 173,404 | | | (173,404) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | 173,404 | | $ | (173,404) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
98
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 25 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | 219,815 |
| $ | (219,815) |
| $ | 0 |
| | | | | | | | | |
Net income (loss) |
| | 0 |
| | 0 |
| | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 |
| | 219,815 |
| | (219,815) |
| | 0 |
| | | | | | | | | |
Net income (loss) |
| | 0 |
| | 0 |
| | 0 |
| | | | | | | | | |
Partners' capital (deficit), September 30,2021 | | | 219,815 | | | (219,815) | | | 0 |
| | | | | | | | | |
Distribution | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | 219,815 | | $ | (219,815) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
99
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 25 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | 219,815 | | $ | (219,815) | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | 219,815 | | | (219,815) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | 219,815 | | | (219,815) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | 219,815 | | $ | (219,815) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
100
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 26 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | 841,956 |
| $ | (313,053) |
| $ | 528,903 |
| | | | | | | | | |
Net income (loss) |
| | (8,349) |
| | (84) |
| | (8,433) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 |
| | 833,607 |
| | (313,137) |
| | 520,470 |
| | | | | | | | | |
Net income (loss) |
| | (8,087) |
| | (82) |
| | (8,169) |
| | | | | | | | | |
Partners' capital (deficit), September 30,2021 | | | 825,520 | | | (313,219) | | | 512,301 |
| | | | | | | | | |
Distribution | | | (437,323) | | | 0 | | | (437,323) |
| | | | | | | | | |
Net income (loss) | | | (74,228) | | | (750) | | | (74,978) |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | 313,969 | | $ | (313,969) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
101
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 26 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | 888,586 | | $ | (312,582) | | $ | 576,004 |
| | | | | | | | | |
Net income (loss) | | | (15,508) | | | (157) | | | (15,665) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | 873,078 | | | (312,739) | | | 560,339 |
| | | | | | | | | |
Net income (loss) | | | (25,468) | | | (257) | | | (25,725) |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | 847,610 | | | (312,996) | | | 534,614 |
| | | | | | | | | |
Net income (loss) | | | 3,845 | | | 39 | | | 3,884 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | 851,455 | | $ | (312,957) | | $ | 538,498 |
The accompanying notes are an integral part of this condensed statement
102
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 27 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | 133,264 |
| $ | (133,264) |
| $ | 0 |
| | | | | | | | | |
Net income (loss) |
| | 0 |
| | 0 |
| | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 |
| | 133,264 | | | (133,264) | | | 0 |
| | | | | | | | | |
Net income (loss) |
| | 0 |
| | 0 |
| | 0 |
| | | | | | | | | |
Partners' capital (deficit), September 30,2021 | | | 133,264 | | | (133,264) | | | 0 |
| | | | | | | | | |
Distribution | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | 133,264 | | $ | (133,264) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
103
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 27 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | 133,264 | | $ | (133,264) | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | — | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | 133,264 | | | (133,264) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | — | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | 133,264 | | | (133,264) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | — | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | 133,264 | | $ | (133,264) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
104
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 28 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | 275,140 |
| $ | (275,140) |
| $ | 0 |
| | | | | | | | | |
Net income (loss) |
| | — |
| | — |
| | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 |
| | 275,140 | | | (275,140) | | | 0 |
| | | | | | | | | |
Net income (loss) |
| | — |
| | — |
| | 0 |
| | | | | | | | | |
Partners' capital (deficit), September 30,2021 | | | 275,140 | | | (275,140) | | | 0 |
| | | | | | | | | |
Distribution | | | — | | | — | | | 0 |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | 275,140 | | $ | (275,140) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
105
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 28 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | 275,140 | | $ | (275,140) | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | 275,140 | | | (275,140) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | 275,140 | | | (275,140) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | 275,140 | | $ | (275,140) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
106
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 29 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | (2,593,761) |
| $ | (368,267) |
| $ | (2,962,028) |
| | | | | | | | | |
Net income (loss) |
| | (8,526) |
| | (86) |
| | (8,612) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 | | | (2,602,287) | | | (368,353) | | | (2,970,640) |
| | | | | | | | | |
Net income (loss) | | | 4,148 | | | 42 | | | 4,190 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | (2,598,139) | | | (368,311) | | | (2,966,450) |
| | | | | | | | | |
Distribution | | | — | | | — | | | — |
| | | | | | | | | |
Net income (loss) | | | (21,303) | | | (215) | | | (21,518) |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | (2,619,442) | | $ | (368,526) | | $ | (2,987,968) |
The accompanying notes are an integral part of this condensed statement
107
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 29 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | (2,581,075) | | $ | (368,139) | | $ | (2,949,214) |
| | | | | | | | | |
Net income (loss) | | | (7,010) | | | (71) | | | (7,081) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | (2,588,085) | | | (368,210) | | | (2,956,295) |
| | | | | | | | | |
Net income (loss) | | | (23,487) | | | (237) | | | (23,724) |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | (2,611,572) | | | (368,447) | | | (2,980,019) |
| | | | | | | | | |
Net income (loss) | | | 19,924 | | | 201 | | | 20,125 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | (2,591,648) | | $ | (368,246) | | $ | (2,959,894) |
The accompanying notes are an integral part of this condensed statement
108
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 30 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | (883,119) |
| $ | 883,119 |
| $ | 0 |
| | | | | | | | | |
Net income (loss) |
| | — |
| | — |
| | — |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 | | | (883,119) | | | 883,119 | | | — |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | — |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | (883,119) | | | 883,119 | | | — |
| | | | | | | | | |
Distribution | | | — | | | — | | | — |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | — |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | (883,119) | | $ | 883,119 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
109
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 30 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | (883,119) | | $ | 883,119 | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | (883,119) | | | 883,119 | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | (883,119) | | | 883,119 | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | (883,119) | | $ | 883,119 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
110
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 31 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | 353,529 |
| $ | (353,529) |
| $ | 0 |
| | | | | | | | | |
Net income (loss) |
| | — |
| | — |
| | 0 |
| | | | | | | | | |
Partners' capital (deficit), June 30,2021 | | | 353,529 | | | (353,529) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | 353,529 | | | (353,529) | | | 0 |
| | | | | | | | | |
Distribution | | | — | | | — | | | 0 |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | 353,529 | | $ | (353,529) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
111
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 31 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | 353,529 | | $ | (353,529) | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | 353,529 | | | (353,529) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | 353,529 | | | (353,529) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | 353,529 | | $ | (353,529) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
112
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 32 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | 3,015,649 |
| $ | (380,008) |
| $ | 2,635,641 |
| | | | | | | | | |
Net income (loss) |
| | (8,109) |
| | (82) |
| | (8,191) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 |
| | 3,007,540 |
| | (380,090) |
| | 2,627,450 |
| | | | | | | | | |
Net income (loss) |
| | 344 |
| | 4 |
| | 348 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | 3,007,884 | | | (380,086) | | | 2,627,798 |
| | | | | | | | | |
Distribution | | | (2,554,377) | | | — | | | (2,554,377) |
| | | | | | | | | |
Net income (loss) | | | (72,686) | | | (735) | | | (73,421) |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | 380,821 | | $ | (380,821) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
113
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 32 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | 514,959 | | $ | (405,267) | | $ | 109,692 |
| | | | | | | | | |
Net income (loss) | | | (26,064) | | | (263) | | | (26,327) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | 488,895 | | | (405,530) | | | 83,365 |
| | | | | | | | | |
Net income (loss) | | | (16,782) | | | (170) | | | (16,952) |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | 472,113 | | | (405,700) | | | 66,413 |
| | | | | | | | | |
Net income (loss) | | | 53,084 | | | 536 | | | 53,620 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | 525,197 | | $ | (405,164) | | $ | 120,033 |
The accompanying notes are an integral part of this condensed statement
114
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 33 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | 3,231,141 |
| $ | (195,423) |
| $ | 3,035,718 |
| | | | | | | | | |
Net income (loss) | | | (6,191) | | | (63) | | | (6,254) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 | | | 3,224,950 | | | (195,486) | | | 3,029,464 |
| | | | | | | | | |
Net income (loss) | | | 6,626 | | | 67 | | | 6,693 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | 3,231,576 | | | (195,419) | | | 3,036,157 |
| | | | | | | | | |
Distribution | | | (2,948,609) | | | — | | | (2,948,609) |
| | | | | | | | | |
Net income (loss) | | | (86,673) | | | (875) | | | (87,548) |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | 196,294 | | $ | (196,294) | | $ | — |
The accompanying notes are an integral part of this condensed statement
115
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 33 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | 782,102 | | $ | (220,161) | | $ | 561,941 |
| | | | | | | | | |
Net income (loss) | | | (18,763) | | | (190) | | | (18,953) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | 763,339 | | | (220,351) | | | 542,988 |
| | | | | | | | | |
Net income (loss) | | | (9,393) | | | (94) | | | (9,487) |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | 753,946 | | | (220,445) | | | 533,501 |
| | | | | | | | | |
Net income (loss) | | | (16,784) | | | (170) | | | (16,954) |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | 737,162 | | $ | (220,615) | | $ | 516,547 |
The accompanying notes are an integral part of this condensed statement
116
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 34 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | (2,016,839) |
| $ | (323,796) |
| $ | (2,340,635) |
| | | | | | | | | |
Net income (loss) | | | (9,691) | | | (98) | | | (9,789) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 | | | (2,026,530) | | | (323,894) | | | (2,350,424) |
| | | | | | | | | |
Net income (loss) | | | (19,418) | | | (196) | | | (19,614) |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | (2,045,948) | | | (324,090) | | | (2,370,038) |
| | | | | | | | | |
Distribution | | | — | | | — | | | — |
| | | | | | | | | |
Net income (loss) | | | (21,727) | | | (219) | | | (21,946) |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | (2,067,675) | | $ | (324,309) | | $ | (2,391,984) |
The accompanying notes are an integral part of this condensed statement
117
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 34 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | (1,973,967) | | $ | (323,363) | | $ | (2,297,330) |
| | | | | | | | | |
Net income (loss) | | | (16,791) | | | (170) | | | (16,961) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | (1,990,758) | | | (323,533) | | | (2,314,291) |
| | | | | | | | | |
Net income (loss) | | | (23,970) | | | (242) | | | (24,212) |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | (2,014,728) | | | (323,775) | | | (2,338,503) |
| | | | | | | | | |
Net income (loss) | | | 7,197 | | | 73 | | | 7,270 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | (2,007,531) | | $ | (323,702) | | $ | (2,331,233) |
The accompanying notes are an integral part of this condensed statement
118
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 35 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | 223,088 |
| $ | (223,088) |
| $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 | | | 223,088 | | | (223,088) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | 223,088 | | | (223,088) | | | 0 |
| | | | | | | | | |
Distribution | | | — | | | — | | | 0 |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | 223,088 | | $ | (223,088) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
119
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 35 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | 223,088 | | $ | (223,088) | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | 223,088 | | | (223,088) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | 223,088 | | | (223,088) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | 223,088 | | $ | (223,088) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
120
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 36 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | 148,221 |
| $ | (148,221) |
| $ | 0 |
| | | | | | | | | |
Net income (loss) |
| | — |
| | — |
| | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 |
| | 148,221 |
| | (148,221) |
| | 0 |
| | | | | | | | | |
Net income (loss) |
| | — |
| | — |
| | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | 148,221 | | | (148,221) | | | 0 |
| | | | | | | | | |
Distribution | | | — | | | — | | | 0 |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | 148,221 | | $ | (148,221) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
121
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 36 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | 148,221 | | $ | (148,221) | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | 148,221 | | | (148,221) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | 148,221 | | | (148,221) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | 148,221 | | $ | (148,221) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
122
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 37 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 | | $ | 205,359 | | $ | (205,359) | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 | | | 205,359 | | | (205,359) | | | — |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | — |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | 205,359 | | | (205,359) | | | — |
| | | | | | | | | |
Distribution | | | — | | | — | | | — |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | — |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | 205,359 | | $ | (205,359) | | $ | — |
The accompanying notes are an integral part of this condensed statement
123
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 37 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | 205,359 | | $ | (205,359) | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | 205,359 | | | (205,359) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | 205,359 | | | (205,359) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | 205,359 | | $ | (205,359) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
124
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 38 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 | | $ | 188,889 | | $ | (188,889) | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 | | | 188,889 | | | (188,889) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | 188,889 | | | (188,889) | | | 0 |
| | | | | | | | | |
Distribution | | | — | | | — | | | 0 |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | 188,889 | | $ | (188,889) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
125
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 38 | | | | | | | | | |
Partners’ capital (deficit), April 1, 2020 | | $ | 188,889 | | $ | (188,889) | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | 188,889 | | | (188,889) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | 188,889 | | | (188,889) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | 188,889 | | $ | (188,889) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
126
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 39 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 | | $ | 196,043 | | $ | (196,043) | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 | | | 196,043 | | | (196,043) | | | — |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | — |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | 196,043 | | | (196,043) | | | — |
| | | | | | | | | |
Distribution | | | — | | | — | | | — |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | — |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | 196,043 | | $ | (196,043) | | $ | — |
The accompanying notes are an integral part of this condensed statement
127
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 39 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | 196,043 | | $ | (196,043) | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2018 | | | 196,043 | | | (196,043) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | 196,043 | | | (196,043) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | 196,043 | | $ | (196,043) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
128
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 40 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 | | $ | 216,900 | | $ | (216,900) | | $ | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 | | | 216,900 | | | (216,900) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | 216,900 | | | (216,900) | | | 0 |
| | | | | | | | | |
Distribution | | | — | | | — | | | 0 |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | 216,900 | | $ | (216,900) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
129
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
|
| | |
| General |
| | | |
|
| Assignees |
| Partner |
| Total | |||
Series 40 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 |
| $ | 216,900 |
| $ | (216,900) |
| $ | 0 |
| | | | | | | | | |
Net income (loss) |
| | 0 |
| | 0 |
| | 0 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 |
| | 216,900 |
| | (216,900) |
| | 0 |
| | | | | | | | | |
Net income (loss) |
| | 0 |
| | 0 |
| | 0 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | 216,900 | | | (216,900) | | | 0 |
| | | | | | | | | |
Net income (loss) | | | 0 | | | 0 | | | 0 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | 216,900 | | $ | (216,900) | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
130
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 41 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 | | $ | (2,009,681) | | $ | (271,985) | | $ | (2,281,666) |
| | | | | | | | | |
Net income (loss) | | | (24,769) | | | (250) | | | (25,019) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 | | | (2,034,450) | | | (272,235) | | | (2,306,685) |
| | | | | | | | | |
Net income (loss) | | | (42,521) | | | (430) | | | (42,951) |
| | | | | | | | | |
Partners' capital (deficit), September 30,2021 | | | (2,076,971) | | | (272,665) | | | (2,349,636) |
| | | | | | | | | |
Distribution | | | — | | | — | | | — |
| | | | | | | | | |
Net income (loss) | | | (33,391) | | | (337) | | | (33,728) |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | (2,110,362) | | $ | (273,002) | | $ | (2,383,364) |
The accompanying notes are an integral part of this condensed statement
131
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 41 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | (2,023,466) | | $ | (272,124) | | $ | (2,295,590) |
| | | | | | | | | |
Net income (loss) | | | (34,428) | | | (348) | | | (34,776) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | (2,057,894) | | | (272,472) | | | (2,330,366) |
| | | | | | | | | |
Net income (loss) | | | 495 | | | 5 | | | 500 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | (2,057,399) | | | (272,467) | | | (2,329,866) |
| | | | | | | | | |
Net income (loss) | | | (16,478) | | | (166) | | | (16,644) |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | (2,073,877) | | $ | (272,633) | | $ | (2,346,510) |
The accompanying notes are an integral part of this condensed statement
132
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 42 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 | | $ | 2,500,317 | | $ | (218,115) | | $ | 2,282,202 |
| | | | | | | | | |
Net income (loss) | | | (4,612) | | | (47) | | | (4,659) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 | | | 2,495,705 | | | (218,162) | | | 2,277,543 |
| | | | | | | | | |
Net income (loss) | | | 70,327 | | | 711 | | | 71,038 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | 2,566,032 | | | (217,451) | | | 2,348,581 |
| | | | | | | | | |
Distribution | | | — | | | — | | | — |
| | | | | | | | | |
Net income (loss) | | | (19,651) | | | (199) | | | (19,850) |
| | | | | | | | | |
Partners’ capital (deficit),December 31, 2021 | | $ | 2,546,381 | | $ | (217,650) | | $ | 2,328,731 |
The accompanying notes are an integral part of this condensed statement
133
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 42 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | 1,843,687 | | $ | (224,748) | | $ | 1,618,939 |
| | | | | | | | | |
Net income (loss) | | | (28,809) | | | (291) | | | (29,100) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | 1,814,878 | | | (225,039) | | | 1,589,839 |
| | | | | | | | | |
Net income (loss) | | | (41,578) | | | (420) | | | (41,998) |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | 1,773,300 | | | (225,459) | | | 1,547,841 |
| | | | | | | | | |
Net income (loss) | | | 710,461 | | | 7,176 | | | 717,637 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | 2,483,761 | | $ | (218,283) | | $ | 2,265,478 |
The accompanying notes are an integral part of this condensed statement
134
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 43 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 | | $ | 306,854 | | $ | (306,854) | | $ | — |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | — |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 | | | 306,854 | | | (306,854) | | | — |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | — |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | 306,854 | | | (306,854) | | | — |
| | | | | | | | | |
Distribution | | | — | | | — | | | — |
| | | | | | | | | |
Net income (loss) | | | — | | | — | | | — |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | 306,854 | | $ | (306,854) | | $ | — |
The accompanying notes are an integral part of this condensed statement
135
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 43 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | 1,723,649 | | $ | (307,358) | | $ | 1,416,291 |
| | | | | | | | | |
Net income (loss) | | | (18,648) | | | (188) | | | (18,836) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | 1,705,001 | | | (307,546) | | | 1,397,455 |
| | | | | | | | | |
Net income (loss) | | | 60,691 | | | 613 | | | 61,304 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | 1,765,692 | | | (306,933) | | | 1,458,759 |
| | | | | | | | | |
Net income (loss) | | | 66,507 | | | 671 | | | 67,178 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | 1,832,199 | | $ | (306,262) | | $ | 1,525,937 |
The accompanying notes are an integral part of this condensed statement
136
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 44 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 | | $ | 676,442 | | $ | (233,014) | | $ | 443,428 |
| | | | | | | | | |
Net income (loss) | | | (17,404) | | | (176) | | | (17,580) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 | | | 659,038 | | | (233,190) | | | 425,848 |
| | | | | | | | | |
Net income (loss) | | | 806,911 | | | 8,151 | | | 815,062 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | 1,465,949 | | | (225,039) | | | 1,240,910 |
| | | | | | | | | |
Distribution | | | — | | | — | | | — |
| | | | | | | | | |
Net income (loss) | | | (22,340) | | | (226) | | | (22,566) |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | 1,443,609 | | $ | (225,265) | | $ | 1,218,344 |
The accompanying notes are an integral part of this condensed statement
137
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 44 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | 192,920 | | $ | (237,898) | | $ | (44,978) |
| | | | | | | | | |
Net income (loss) | | | (34,250) | | | (346) | | | (34,596) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | 158,670 | | | (238,244) | | | (79,574) |
| | | | | | | | | |
Net income (loss) | | | (35,693) | | | (361) | | | (36,054) |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | 122,977 | | | (238,605) | | | (115,628) |
| | | | | | | | | |
Net income (loss) | | | (119,253) | | | (1,204) | | | (120,457) |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | 3,724 | | $ | (239,809) | | $ | (236,085) |
The accompanying notes are an integral part of this condensed statement
138
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 45 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 | | $ | (1,079,247) | | $ | (368,136) | | $ | (1,447,383) |
| | | | | | | | | |
Net income (loss) | | | 170,032 | | | 1,718 | | | 171,750 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 | | | (909,215) | | | (366,418) | | | (1,275,633) |
| | | | | | | | | |
Net income (loss) | | | 238,354 | | | 2,407 | | | 240,761 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | (670,861) | | | (364,011) | | | (1,034,872) |
| | | | | | | | | |
Distribution | | | — | | | — | | | — |
| | | | | | | | | |
Net income (loss) | | | 203,514 | | | 2,056 | | | 205,570 |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | (467,347) | | $ | (361,955) | | $ | (829,302) |
The accompanying notes are an integral part of this condensed statement
139
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 45 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | (1,135,758) | | $ | (368,707) | | $ | (1,504,465) |
| | | | | | | | | |
Net income (loss) | | | (22,729) | | | (230) | | | (22,959) |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | (1,158,487) | | | (368,937) | | | (1,527,424) |
| | | | | | | | | |
Net income (loss) | | | 153,564 | | | 1,552 | | | 155,116 |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | (1,004,923) | | | (367,385) | | | (1,372,308) |
| | | | | | | | | |
Net income (loss) | | | (68,001) | | | (687) | | | (68,688) |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | (1,072,924) | | $ | (368,072) | | $ | (1,440,996) |
The accompanying notes are an integral part of this condensed statement
140
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 46 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2021 |
| $ | (1,448,620) |
| $ | (280,028) |
| $ | (1,728,648) |
| | | | | | | | | |
Net income (loss) |
| | 235,040 |
| | 2,374 |
| | 237,414 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2021 |
| | (1,213,580) | | | (277,654) | | | (1,491,234) |
| | | | | | | | | |
Net income (loss) |
| | (372) |
| | (4) |
| | (376) |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2021 | | | (1,213,952) | | | (277,658) | | | (1,491,610) |
| | | | | | | | | |
Distribution |
| | — | | | — | | | — |
| | | | | | | | | |
Net income (loss) |
| | (23,377) |
| | (236) |
| | (23,613) |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2021 | | $ | (1,237,329) | | $ | (277,894) | | $ | (1,515,223) |
The accompanying notes are an integral part of this condensed statement
141
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)
Nine Months Ended December 31, 2021 and 2020
(Unaudited)
| | | | | | | | | |
| | | | | General | | | | |
|
| Assignees |
| Partner |
| Total | |||
Series 46 | | | | | | | | | |
Partners’ capital (deficit) April 1, 2020 | | $ | (1,399,379) | | $ | (279,531) | | $ | (1,678,910) |
| | | | | | | | | |
Net income (loss) | | | 33,521 | | | 339 | | | 33,860 |
| | | | | | | | | |
Partners’ capital (deficit), June 30, 2020 | | | (1,365,858) | | | (279,192) | | | (1,645,050) |
| | | | | | | | | |
Net income (loss) | | | (37,349) | | | (378) | | | (37,727) |
| | | | | | | | | |
Partners’ capital (deficit), September 30, 2020 | | | (1,403,207) | | | (279,570) | | | (1,682,777) |
| | | | | | | | | |
Net income (loss) | | | (8,729) | | | (88) | | | (8,817) |
| | | | | | | | | |
Partners’ capital (deficit), December 31, 2020 | | $ | (1,411,936) | | $ | (279,658) | | $ | (1,691,594) |
The accompanying notes are an integral part of this condensed statement
142
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 1,214,011 | | $ | 447,801 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| (2,032,167) | |
| (1,366,857) |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | |
| 4,040 | |
| 11,300 |
(Decrease) Increase in accounts payable and accrued expenses | | | (27) | | | 54,875 |
(Decrease) Increase in accounts payable affiliates | |
| (1,181,978) | |
| (305,814) |
Net cash (used in) provided by operating activities | |
| (1,996,121) | |
| (1,158,695) |
Cash flows from investing activities: | |
| | |
| |
Proceeds (loss) from the disposition of Operating Partnerships | |
| 2,032,167 | |
| 1,366,603 |
Net cash (used in) provided by investing activities | |
| 2,032,167 | |
| 1,366,603 |
Cash flows from financing activities: | |
| | |
| |
Distributions | |
| (5,940,309) | |
| 0 |
Net cash used in financing activities | |
| (5,940,309) | |
| 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| (5,904,263) | |
| 207,908 |
Cash and cash equivalents, beginning | |
| 10,819,585 | |
| 6,622,109 |
Cash and cash equivalents, ending | | $ | 4,915,322 | | $ | 6,830,017 |
The accompanying notes are an integral part of this condensed statement
143
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 20
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 0 | | $ | 0 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | |
| | |
| |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | |
| 0 |
Changes in assets and liabilities | |
| | |
| |
(Increase) Decrease in other assets | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable affiliates | |
| 0 | |
| 0 |
Net cash (used in) provided by operating activities | |
| 0 | |
| 0 |
Cash flows from investing activities: | |
|
| |
|
|
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | |
| 0 |
Net cash (used in) provided by investing activities | |
| 0 | |
| 0 |
Cash flows from financing activities: | |
|
| |
|
|
Distributions | |
| 0 | |
| 0 |
Net cash used in financing activities | |
| 0 | |
| 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 0 | |
| 0 |
Cash and cash equivalents, beginning | |
| 0 | |
| 0 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
144
BF Garden Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 21
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 0 | | $ | 0 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | |
| 0 |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable affiliates | |
| 0 | |
| 0 |
Net cash (used in) provided by operating activities | |
| 0 | |
| 0 |
Cash flows from investing activities: | |
| | |
| |
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | |
| 0 |
Net cash (used in) provided by investing activities | |
| 0 | |
| 0 |
Cash flows from financing activities: | |
| | |
| |
Distributions | |
| 0 | |
| 0 |
Net cash used in financing activities | |
| 0 | |
| 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 0 | |
| 0 |
Cash and cash equivalents, beginning | |
| 0 | |
| 0 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
145
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 22
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | |
|
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 0 | | $ | 0 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | |
| 0 |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable affiliates | |
| 0 | |
| 0 |
Net cash (used in) provided by operating activities | |
| 0 | |
| 0 |
Cash flows from investing activities: | |
| | |
| |
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | |
| 0 |
Net cash (used in) provided by investing activities | |
| 0 | |
| 0 |
Cash flows from financing activities: | |
| | |
| |
Distributions | |
| 0 | |
| 0 |
Net cash used in financing activities | |
| 0 | |
| 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 0 | |
| 0 |
Cash and cash equivalents, beginning | |
| 0 | |
| 0 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
146
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 23
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 0 | | $ | 0 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | |
| 0 |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable affiliates | |
| 0 | |
| 0 |
Net cash (used in) provided by operating activities | |
| 0 | |
| 0 |
Cash flows from investing activities: | |
| | |
| |
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | |
| 0 |
Net cash (used in) provided by investing activities | |
| 0 | |
| 0 |
Cash flows from financing activities: | |
| | |
| |
Distributions | |
| 0 | |
| 0 |
Net cash used in financing activities | |
| 0 | |
| 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 0 | |
| 0 |
Cash and cash equivalents, beginning | |
| 0 | |
| 0 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
147
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 24
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 0 | | $ | 0 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | |
| 0 |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable affiliates | |
| 0 | |
| 0 |
Net cash (used in) provided by operating activities | |
| 0 | |
| 0 |
Cash flows from investing activities: | |
| | |
| |
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | |
| 0 |
Net cash (used in) provided by investing activities | |
| 0 | |
| 0 |
Cash flows from financing activities: | |
| | |
| |
Distributions | |
| 0 | |
| 0 |
Net cash used in financing activities | |
| 0 | |
| 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 0 | |
| 0 |
Cash and cash equivalents, beginning | |
| 0 | |
| 0 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
148
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 25
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | |
| |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 0 | | $ | 0 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | |
| | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | | | 0 |
Changes in assets and liabilities | |
| | | | |
(Increase) Decrease in other assets | |
| 0 | | | 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | | | 0 |
(Decrease) Increase in accounts payable affiliates | |
| 0 | | | 0 |
Net cash (used in) provided by operating activities | |
| 0 | | | 0 |
Cash flows from investing activities: | |
| | | | |
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | | | 0 |
Net cash (used in) provided by investing activities | |
| 0 | | | 0 |
Cash flows from financing activities: | |
| | | | |
Distributions | |
| 0 | | | 0 |
Net cash used in financing activities | |
| 0 | | | 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 0 | | | 0 |
Cash and cash equivalents, beginning | |
| 0 | | | 0 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
149
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 26
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | (91,580) | | $ | (37,506) |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| (20,845) | |
| (18,800) |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | |
| 75 | |
| 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable affiliates | |
| (2,199) | |
| 8,563 |
Net cash (used in) provided by operating activities | |
| (114,549) | |
| (47,743) |
Cash flows from investing activities: | |
| | |
| |
Proceeds (loss) from the disposition of Operating Partnerships | |
| 20,845 | |
| 18,800 |
Net cash (used in) provided by investing activities | |
| 20,845 | |
| 18,800 |
Cash flows from financing activities: | |
| | |
| |
Distributions | |
| (437,323) | |
| 0 |
Net cash used in financing activities | |
| (437,323) | |
| 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| (531,027) | |
| (28,943) |
Cash and cash equivalents, beginning | |
| 531,027 | |
| 576,004 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 547,061 |
The accompanying notes are an integral part of this condensed statement
150
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 27
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 0 | | $ | 0 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | |
| 0 |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable affiliates | |
| 0 | |
| 0 |
Net cash (used in) provided by operating activities | |
| 0 | |
| 0 |
Cash flows from investing activities: | |
|
| |
| |
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | |
| 0 |
Net cash (used in) provided by investing activities | |
| 0 | |
| 0 |
Cash flows from financing activities: | |
| | | | |
Distributions | |
| 0 | | | 0 |
Net cash used in financing activities | |
| 0 | |
| 0 |
| | | | |
| |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 0 | |
| 0 |
Cash and cash equivalents, beginning | |
| 0 | | | 0 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
151
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 28
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 0 | | $ | 0 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | |
| 0 |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable affiliates | |
| 0 | |
| 0 |
Net cash (used in) provided by operating activities | |
| 0 | |
| 0 |
Cash flows from investing activities: | | | | | | |
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | |
| 0 |
Net cash (used in) provided by investing activities | |
| 0 | |
| 0 |
Cash flows from financing activities: | |
| | |
| |
Distributions | |
| 0 | |
| 0 |
Net cash used in financing activities | |
| 0 | |
| 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 0 | |
| 0 |
Cash and cash equivalents, beginning | |
| 0 | | | 0 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
152
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 29
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | (25,940) | | $ | (10,680) |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| (29,999) | |
| (44,500) |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | |
| (352) | |
| 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 11,000 |
(Decrease) Increase in accounts payable affiliates | |
| (19,965) | |
| 18,134 |
Net cash (used in) provided by operating activities | |
| (76,256) | |
| (26,046) |
Cash flows from investing activities: | |
| | | | |
Proceeds (loss) from the disposition of Operating Partnerships | |
| 29,999 | |
| 44,500 |
Net cash (used in) provided by investing activities | |
| 29,999 | |
| 44,500 |
Cash flows from financing activities: | |
| | |
| |
Distributions | |
| 0 | |
| 0 |
Net cash used in financing activities | |
| 0 | |
| 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| (46,257) | |
| 18,454 |
Cash and cash equivalents, beginning | |
| 164,236 | | | 157,446 |
Cash and cash equivalents, ending | | $ | 117,979 | | $ | 175,900 |
The accompanying notes are an integral part of this condensed statement
153
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 30
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 0 | | $ | 0 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | | | 0 |
Changes in assets and liabilities | |
| | | | |
(Increase) Decrease in other assets | |
| 0 | | | 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | | | 0 |
(Decrease) Increase in accounts payable affiliates | |
| 0 | | | 0 |
Net cash (used in) provided by operating activities | |
| 0 | | | 0 |
Cash flows from investing activities: | |
|
| |
|
|
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | | | 0 |
Net cash (used in) provided by investing activities | |
| 0 | |
| 0 |
Cash flows from financing activities: | |
|
| |
|
|
Distributions | |
| 0 | |
| 0 |
Net cash used in financing activities | |
| 0 | |
| 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 0 | |
| 0 |
Cash and cash equivalents, beginning | |
| 0 | |
| 0 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
154
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 31
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 0 | | $ | 0 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | | | 0 |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | | | 0 |
(Decrease) Increase in accounts payable affiliates | |
| 0 | |
| 0 |
Net cash (used in) provided by operating activities | |
| 0 | | | 0 |
Cash flows from investing activities: | |
|
| |
| |
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | | | 0 |
Net cash (used in) provided by investing activities | |
| 0 | | | 0 |
Cash flows from financing activities: | |
|
| |
| |
Distributions | |
| 0 | |
| 0 |
Net cash used in financing activities | |
| 0 | |
| 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 0 | | | 0 |
Cash and cash equivalents, beginning | |
| 0 | | | 0 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
155
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 32
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | (81,264) | | $ | 10,341 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | |
| | |
| |
(Gain) loss on disposition of Operating Partnerships | |
| (23,823) | |
| (79,208) |
Changes in assets and liabilities | |
| | |
| |
(Increase) Decrease in other assets | |
| 74 | |
| 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable affiliates | |
| (4,847) | | | 45,396 |
Net cash (used in) provided by operating activities | |
| (109,860) | | | (23,471) |
Cash flows from investing activities: | |
| | |
| |
Proceeds (loss) from the disposition of Operating Partnerships | |
| 23,823 | | | 79,208 |
Net cash (used in) provided by investing activities | |
| 23,823 | | | 79,208 |
Cash flows from financing activities: | |
| | |
| |
Distributions | |
| (2,554,377) | |
| 0 |
Net cash used in financing activities | |
| (2,554,377) | |
| 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| (2,640,414) | | | 55,737 |
Cash and cash equivalents, beginning | |
| 2,640,414 | | | 193,203 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 248,940 |
The accompanying notes are an integral part of this condensed statement
156
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 33
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | (87,109) | | $ | (45,394) |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| (23,823) | |
| 0 |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | |
| 74 | |
| 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable affiliates | |
| (4,992) | | | 19,554 |
Net cash (used in) provided by operating activities | |
| (115,850) | | | (25,840) |
Cash flows from investing activities: | | |
| | |
|
Proceeds (loss) from the disposition of Operating Partnerships | |
| 23,823 | |
| 0 |
Net cash (used in) provided by investing activities | |
| 23,823 | |
| 0 |
Cash flows from financing activities: | |
|
| |
|
|
Distributions | |
| (2,948,609) | |
| 0 |
Net cash used in financing activities | |
| (2,948,609) | |
| 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| (3,040,636) | | | (25,840) |
| | | | | | |
Cash and cash equivalents, beginning | |
| 3,040,636 | | | 561,941 |
| | | | | | |
Cash and cash equivalents, ending | | $ | 0 | | $ | 536,101 |
The accompanying notes are an integral part of this condensed statement
157
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 34
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | (51,349) | | $ | (33,903) |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | |
| (20,800) |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | |
| 74 | |
| 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 2,000 |
(Decrease) Increase in accounts payable affiliates | |
| 13,869 | | | 19,479 |
Net cash (used in) provided by operating activities | |
| (37,406) | | | (33,224) |
Cash flows from investing activities: | |
|
| |
|
|
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | |
| 20,800 |
Net cash (used in) provided by investing activities | |
| 0 | |
| 20,800 |
Cash flows from financing activities: | |
|
| |
|
|
Distributions | |
| 0 | |
| 0 |
Net cash used in financing activities | |
| 0 | |
| 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| (37,406) | | | (12,424) |
Cash and cash equivalents, beginning | |
| 129,067 | | | 148,344 |
Cash and cash equivalents, ending | | $ | 91,661 | | $ | 135,920 |
The accompanying notes are an integral part of this condensed statement
158
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 35
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 0 | | $ | 0 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | |
| 0 |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | | | 0 | | | 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable affiliates | |
| 0 | |
| 0 |
Net cash (used in) provided by operating activities | |
| 0 | | | 0 |
Cash flows from investing activities: | | |
| | |
|
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | |
| 0 |
Net cash (used in) provided by investing activities | |
| 0 | |
| 0 |
Cash flows from financing activities: | | |
| | |
|
Distributions | |
| 0 | |
| 0 |
Net cash used in financing activities | |
| 0 | |
| 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 0 | | | 0 |
Cash and cash equivalents, beginning | |
| 0 | | | 0 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
159
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 36
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 0 | | $ | 0 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | |
| 0 |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | | | 0 | | | 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable affiliates | |
| 0 | |
| 0 |
Net cash (used in) provided by operating activities | |
| 0 | | | 0 |
Cash flows from investing activities: | |
|
| |
|
|
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | |
| 0 |
Net cash (used in) provided by investing activities | |
| 0 | |
| 0 |
| | | | | | |
Cash flows from financing activities: | |
|
| |
|
|
Distributions | |
| 0 | |
| 0 |
Net cash used in financing activities | |
| 0 | |
| 0 |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 0 | | | 0 |
Cash and cash equivalents, beginning | |
| 0 | | | 0 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
160
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 37
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 0 | | $ | 0 |
Adjustments to reconcile net income (loss) to net cash (used in)provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | |
| 0 |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | | | 0 | | | 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable affiliates | |
| 0 | |
| 0 |
Net cash (used in) provided by operating activities | |
| 0 | |
| 0 |
Cash flows from investing activities: | | | | | | |
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | |
| 0 |
Net cash (used in) provided by investing activities | |
| 0 | |
| 0 |
| | | | | | |
Cash flows from financing activities: | | | | | | |
Distributions | | | 0 | | | 0 |
Net cash used in financing activities | | | 0 | | | 0 |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | | | 0 | | | 0 |
Cash and cash equivalents, beginning | | | 0 | | | 0 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
161
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 38
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 0 | | $ | 0 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | |
| 0 |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | | | 0 | | | 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable affiliates | |
| 0 | |
| 0 |
Net cash (used in) provided by operating activities | |
| 0 | |
| 0 |
Cash flows from investing activities: | | | | | | |
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | |
| 0 |
Net cash (used in) provided by investing activities | |
| 0 | |
| 0 |
Cash flows from financing activities: | | | | | | |
Distributions | | | 0 | | | 0 |
Net cash used in financing activities | | | 0 | | | 0 |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 0 | |
| 0 |
Cash and cash equivalents, beginning | | | 0 | | | 0 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
162
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 39
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 0 | | $ | 0 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | |
| 0 |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | | | 0 | | | 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable affiliates | |
| 0 | |
| 0 |
Net cash (used in) provided by operating activities | | | 0 | | | 0 |
Cash flows from investing activities: | | | | | | |
Proceeds (loss) from the disposition of Operating Partnerships | | | 0 | | | 0 |
Net cash (used in) provided by investing activities | | | 0 | | | 0 |
| |
| | |
| |
Cash flows from financing activities: | | | | | | |
Distributions | | | 0 | | | 0 |
Net cash used in financing activities | | | 0 | | | 0 |
| |
| | |
| |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | | | 0 | | | 0 |
Cash and cash equivalents, beginning | | | 0 | | | 0 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
163
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 40
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 0 | | $ | 0 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | |
| 0 |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | | | 0 | | | 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable affiliates | |
| 0 | |
| 0 |
Net cash (used in) provided by operating activities | |
| 0 | |
| 0 |
Cash flows from investing activities: | | | | | | |
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | |
| 0 |
Net cash (used in) provided by investing activities | |
| 0 | |
| 0 |
Cash flows from financing activities: | | | | | | |
Distributions | |
| 0 | |
| 0 |
Net cash used in financing activities | |
| 0 | |
| 0 |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 0 | |
| 0 |
Cash and cash equivalents, beginning | |
| 0 | |
| 0 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 0 |
The accompanying notes are an integral part of this condensed statement
164
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 41
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | (101,698) | | $ | (50,920) |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | |
| (64,500) |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | |
| 437 | |
| 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| (1) | |
| 2,500 |
(Decrease) Increase in accounts payable affiliates | |
| 26,682 | |
| 82,907 |
Net cash (used in) provided by operating activities | |
| (74,580) | |
| (30,013) |
Cash flows from investing activities: | |
|
| |
|
|
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | |
| 64,500 |
Net cash (used in) provided by investing activities | |
| 0 | |
| 64,500 |
Cash flows from financing activities: | | | | | | |
Distributions | | | 0 | | | 0 |
Net cash used in financing activities | | | 0 | | | 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| (74,580) | |
| 34,487 |
Cash and cash equivalents, beginning | |
| 408,743 | |
| 352,239 |
Cash and cash equivalents, ending | | $ | 334,163 | | $ | 386,726 |
The accompanying notes are an integral part of this condensed statement
165
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 42
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 46,529 | | $ | 646,539 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| (94,182) | |
| (722,454) |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | |
| (419) | |
| 11,300 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 23,000 |
(Decrease) Increase in accounts payable affiliates | |
| 12,150 | |
| 32,686 |
Net cash (used in) provided by operating activities | |
| (35,922) | |
| (8,929) |
Cash flows from investing activities: | | |
| | |
|
Proceeds (loss) from the disposition of Operating Partnerships | |
| 94,182 | |
| 722,200 |
Net cash (used in) provided by investing activities | |
| 94,182 | |
| 722,200 |
Cash flows from financing activities: | | | | | | |
Distributions | | | 0 | | | 0 |
Net cash used in financing activities | | | 0 | | | 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 58,260 | |
| 713,271 |
Cash and cash equivalents, beginning | |
| 2,318,856 | |
| 1,607,893 |
Cash and cash equivalents, ending | | $ | 2,377,116 | | $ | 2,321,164 |
The accompanying notes are an integral part of this condensed statement
166
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 43
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 0 | | $ | 109,646 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| 0 | |
| (186,635) |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | | | 0 | | | 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 26,875 |
(Decrease) Increase in accounts payable affiliates | |
| 0 | |
| 24,186 |
Net cash (used in) provided by operating activities | |
| 0 | |
| (25,928) |
Cash flows from investing activities: | |
|
| |
|
|
Proceeds (loss) from the disposition of Operating Partnerships | |
| 0 | |
| 186,635 |
Net cash (used in) provided by investing activities | |
| 0 | |
| 186,635 |
Cash flows from financing activities: | | | | | | |
Distributions | | | 0 | | | 0 |
Net cash used in financing activities | | | 0 | | | 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 0 | |
| 160,707 |
Cash and cash equivalents, beginning | |
| 0 | |
| 1,416,291 |
Cash and cash equivalents, ending | | $ | 0 | | $ | 1,576,998 |
The accompanying notes are an integral part of this condensed statement
167
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 44
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 774,916 | | $ | (191,107) |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| (815,747) | |
| 83,058 |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | |
| 205 | |
| 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| (26) | |
| (4,000) |
(Decrease) Increase in accounts payable affiliates | |
| (379,155) | |
| 6,503 |
Net cash (used in) provided by operating activities | |
| (419,807) | |
| (105,546) |
Cash flows from investing activities: | | |
| | |
|
Proceeds (loss) from the disposition of Operating Partnerships | |
| 815,747 | |
| (83,058) |
Net cash (used in) provided by investing activities | |
| 815,747 | |
| (83,058) |
Cash flows from financing activities: | | | | | | |
Distributions | | | 0 | | | 0 |
Net cash used in financing activities | | | 0 | | | 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 395,940 | |
| (188,604) |
Cash and cash equivalents, beginning | |
| 842,738 | |
| 321,693 |
Cash and cash equivalents, ending | | $ | 1,238,678 | | $ | 133,089 |
The accompanying notes are an integral part of this condensed statement
168
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 45
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 618,081 | | $ | 63,469 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| (691,381) | |
| (199,692) |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | | | 2,627 | | | 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| (6,500) |
(Decrease) Increase in accounts payable affiliates | |
| (618,340) | |
| (635,876) |
Net cash (used in) provided by operating activities | |
| (689,013) | |
| (778,599) |
Cash flows from investing activities: | |
|
| |
|
|
Proceeds (loss) from the disposition of Operating Partnerships | |
| 691,381 | |
| 199,692 |
Net cash (used in) provided by investing activities | |
| 691,381 | |
| 199,692 |
Cash flows from financing activities: | | | | | | |
Distributions | | | 0 | | | 0 |
Net cash used in financing activities | | | 0 | | | 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 2,368 | |
| (578,907) |
Cash and cash equivalents, beginning | |
| 294,663 | |
| 859,371 |
Cash and cash equivalents, ending | | $ | 297,031 | | $ | 280,464 |
The accompanying notes are an integral part of this condensed statement
169
BF Garden Tax Credit Fund IV L.P.
CONDENSED STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)
Series 46
| | | | | | |
|
| 2021 |
| 2020 | ||
| | | | | | |
Cash flows from operating activities: | | | | | | |
| | | | | | |
Net income (loss) | | $ | 213,425 | | $ | (12,684) |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | | | | | | |
(Gain) loss on disposition of Operating Partnerships | |
| (332,367) | |
| (113,326) |
Changes in assets and liabilities | | | | | | |
(Increase) Decrease in other assets | | | 1,245 | | | 0 |
(Decrease) Increase in accounts payable and accrued expenses | |
| 0 | |
| 0 |
(Decrease) Increase in accounts payable affiliates | |
| (205,181) | |
| 72,654 |
Net cash (used in) provided by operating activities | |
| (322,878) | |
| (53,356) |
Cash flows from investing activities: | | |
| | |
|
Proceeds (loss) from the disposition of Operating Partnerships | |
| 332,367 | |
| 113,326 |
Net cash (used in) provided by investing activities | |
| 332,367 | |
| 113,326 |
Cash flows from financing activities: | | | | | | |
Distributions | | | 0 | | | 0 |
Net cash used in financing activities | | | 0 | | | 0 |
| | | | | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |
| 9,489 | |
| 59,970 |
Cash and cash equivalents, beginning | |
| 449,205 | |
| 427,684 |
Cash and cash equivalents, ending | | $ | 458,694 | | $ | 487,654 |
The accompanying notes are an integral part of this condensed statement
170
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS
December 31, 2021
(Unaudited)
NOTE A – ORGANIZATION
BF Garden Tax Credit Fund IV L.P. (formerly known as Boston Capital Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTSDecember 31, 2017(Unaudited)
NOTE A - ORGANIZATION
Boston Capital Tax Credit Fund IV L.P.) (the "Fund"“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"Partnerships”). Effective as of June 1, 2001 there wasDecember 15, 2020, Corporate Investment Holdings, Inc., a restructuring and,Massachusetts corporation owned by BF Garden Companion Limited Partnership, a Massachusetts limited partnership formerly known as a result,Boston Capital Companion Limited Partnership (“Companion”), replaced BCA Associates Limited Partnership as the Fund's general partner was reorganizedof the Fund’s general partner, BF Garden Associates IV L.P., a Delaware limited partnership formerly known as follows.Boston Capital Associates IV L.P. Additionally, Companion replaced Capital Investment Holdings IV Limited Partnership as the sole limited partner of the Fund’s general partner. Also effective as of December 15, 2020, BFBC Holdings GP, LLC, a Delaware limited liability company and an affiliate of Boston Financial Investment Management, LP, a Delaware limited partnership (“BFIM”), replaced Boston Capital Partners II Corporation as the general partner of Companion; and BFIM replaced Boston Capital Companion Holdings Limited Partnership as the sole limited partner of Companion. The generalassignor limited 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-ownedwholly owned by John P. Manning.
Companion.
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"“Public Offering”) of the Fund'sFund’s beneficial assignee certificates ("BACs"(“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.
171
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE A – ORGANIZATION (continued)
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.
| | | | | | | |
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 |
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 |
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUEDDecember 31, 2017(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, 20172021 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'sPartnership’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'sFund’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'sFund’s Annual Report on Form 10-K for the fiscal year ended March 31, 2017.
2021.
172
Boston CapitalBF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
2021
(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., andoriginally incurred a fund management fee to Boston Capital Asset Management Limited Partnership, an affiliate of the general partner, prior to the sale as follows:
Andisclosed in Note A. As part of the sale disclosed in Note A, the fund management fee is now assigned to BF Garden Companion Limited Partnership, a Massachusetts limited partnership formerly known as Boston Capital Companion Limited Partnership (“Companion”) and an affiliate of the general partner, in an annual fund management fee of .5 percent of the aggregate cost of all apartment complexes owned by the Operating Partnerships hasPartnerships. The obligation that had been accrued to Boston Capital Asset Management Limited Partnership.Partnership was transferred to Companion as disclosed in Note A. 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, 20172021 and 2016,2020, are as follows:
2017 | 2016 | |
Series 20 | $ 5,536 | $ 5,535 |
Series 21 | 2,216 | 2,718 |
Series 22 | 7,303 | 7,302 |
Series 23 | 5,556 | 9,270 |
Series 24 | 12,588 | 12,588 |
Series 25 | - | 5,934 |
Series 26 | 15,609 | 22,545 |
Series 27 | 8,915 | 25,794 |
Series 28 | 8,844 | 8,844 |
Series 29 | 20,547 | 20,547 |
Series 30 | 12,609 | 17,421 |
Series 31 | 19,092 | 37,521 |
Series 32 | 23,234 | 43,080 |
Series 33 | 15,654 | 16,398 |
Series 34 | 12,365 | 16,707 |
Series 35 | 10,653 | 22,065 |
Series 36 | 7,626 | 7,626 |
Series 37 | 10,957 | 26,424 |
Series 38 | 18,234 | 34,779 |
Series 39 | 1,712 | 13,623 |
Series 40 | 26,594 | 33,579 |
Series 41 | 49,564 | 56,148 |
Series 42 | 40,788 | 42,870 |
Series 43 | 55,612 | 57,693 |
Series 44 | 57,825 | 57,825 |
Series 45 | 70,359 | 70,800 |
Series 46 | 52,299 | 59,021 |
$572,291 | $734,657 | |
| | | | | | |
|
| 2021 |
| 2020 | ||
Series 26 | | $ | 0 | | $ | 4,281 |
Series 29 | |
| 1,128 | |
| 4,629 |
Series 32 | |
| 0 | |
| 15,132 |
Series 33 | |
| 0 | |
| 9,777 |
Series 34 | |
| 4,623 | |
| 6,025 |
Series 41 | |
| 20,094 | |
| 26,529 |
Series 42 | |
| 4,050 | |
| 13,426 |
Series 43 | |
| 0 | |
| 4,815 |
Series 44 | |
| 7,935 | |
| 30,315 |
Series 45 | |
| 15,021 | |
| 28,713 |
Series 46 | | | 40,761 | | | 46,332 |
| | $ | 93,612 | | $ | 189,974 |
Boston Capital Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUEDDecember 31, 2017(Unaudited)
NOTE C - RELATED PARTY TRANSACTIONS (continued)
The fund management fees paid for the nine months ended December 31, 20172021 and 20162020 are as follows:
2017 | 2016 | |
Series 21 | $ 258,000 | $ 150,000 |
Series 23 | 488,550 | - |
Series 24 | 37,764 | 37,764 |
Series 25 | 11,374 | 17,802 |
Series 26 | 60,699 | 70,531 |
Series 27 | 33,438 | 90,648 |
Series 28 | 26,532 | 35,835 |
Series 29 | - | 153,500 |
Series 31 | 62,490 | 112,563 |
Series 32 | 1,184,057 | 756,790 |
Series 33 | - | 900,000 |
Series 34 | 430,691 | 291,000 |
Series 35 | 597,597 | 1,460,603 |
Series 36 | 790,383 | 571,611 |
Series 37 | 1,574,732 | - |
Series 38 | 1,570,687 | 32,421 |
Series 39 | 938,915 | 102,774 |
Series 40 | 93,700 | 287,722 |
Series 41 | 70,500 | 100,000 |
Series 42 | 126,528 | 2,269,650 |
Series 43 | - | 2,202,870 |
Series 46 | 163,222 | - |
$8,519,859 | $9,644,084 |
| | | | | | |
|
| 2021 |
| 2020 | ||
Series 26 | | $ | 5,864 | | $ | 4,282 |
Series 29 | |
| 27,499 | |
| 0 |
Series 32 | |
| 8,938 | |
| 0 |
Series 33 | |
| 9,326 | |
| 9,777 |
Series 41 | |
| 33,600 | |
| 0 |
Series 42 | |
| 0 | |
| 19,259 |
Series 43 | |
| 0 | |
| 21,348 |
Series 44 | | | 411,888 | | | 84,442 |
Series 45 | |
| 683,677 | |
| 742,389 |
Series 46 | | | 331,796 | | | 68,500 |
| | $ | 1,512,588 | | $ | 949,997 |
Boston Capital
173
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
2021
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS
At December 31, 20172021 and 2016,2020, the Fund has limited partnership interests in 17918 and 21940 Operating Partnerships, respectively, which own or are constructing apartment complexes.
The breakdown of Operating Partnerships within the Fund at December 31, 20172021 and 20162020 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 |
| | | | |
|
| 2021 |
| 2020 |
Series 20 |
| 0 |
| 0 |
Series 21 |
| 0 |
| 0 |
Series 22 |
| 0 |
| 0 |
Series 23 |
| 0 |
| 0 |
Series 24 |
| 0 |
| 0 |
Series 25 |
| 0 |
| 0 |
Series 26 |
| 0 |
| 1 |
Series 27 |
| 0 |
| 0 |
Series 28 |
| 0 |
| 0 |
Series 29 |
| 1 |
| 2 |
Series 30 |
| 0 |
| 0 |
Series 31 |
| 0 |
| 0 |
Series 32 |
| 0 |
| 2 |
Series 33 |
| 0 |
| 2 |
Series 34 |
| 1 |
| 1 |
Series 35 |
| 0 |
| 0 |
Series 36 |
| 0 |
| 0 |
Series 37 |
| 0 |
| 0 |
Series 38 |
| 0 |
| 0 |
Series 39 |
| 0 |
| 0 |
Series 40 |
| 0 |
| 0 |
Series 41 |
| 1 |
| 6 |
Series 42 |
| 2 |
| 2 |
Series 43 |
| 0 |
| 0 |
Series 44 |
| 1 |
| 3 |
Series 45 |
| 4 |
| 11 |
Series 46 |
| 8 |
| 10 |
|
| 18 |
| 40 |
Boston Capital Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS - (continued)
Under the terms of the Fund'sFund’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, 20172021 and 2016,2020, 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 |
| | | | | | |
|
| 2021 |
| 2020 | ||
Series 29 | | $ | 785 | | $ | 785 |
Boston Capital
174
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
2021
(Unaudited)
NOTE D - INVESTMENTSINVESTMENT IN OPERATING PARTNERSHIPS - (continued)
During the nine months ended December 31, 20172021 the Fund disposed of thirtyfifteen Operating Partnerships. A summary of the dispositions by series for December 31, 2021 is as follows:
| | | | | | | | | | |
| | Operating | | Sale of | | |
| | |
|
| | Partnership | | Underlying | | Fund Proceeds | | | | |
| | Interest | | Operating | | from | | Gain on | ||
|
| Transferred |
| Partnership |
| Disposition |
| Disposition | ||
Series 26 | | 1 | | 0 | | $ | 20,845 | | $ | 20,845 |
Series 29 | | 1 | | 0 | | | 29,999 | | | 29,999 |
Series 32 | | 1 | | 0 | | | 23,823 | | | 23,823 |
Series 33 | | 1 | | 0 | | | 23,823 | | | 23,823 |
Series 41 | | 1 | | 0 | | | — | | | — |
Series 42 | | 0 | | 0 | |
| 94,182 | |
| 94,182 |
Series 44 | | 0 | | 1 | | | 815,747 | | | 815,747 |
Series 45 | | 6 | | 1 | | | 691,381 | | | 691,381 |
Series 46 | | 1 | | 1 | |
| 332,367 | |
| 332,367 |
Total | | 12 | | 3 | | $ | 2,032,167 | | $ | 2,032,167 |
During the nine months ended December 31, 2020 the Fund disposed of twenty-eight Operating Partnerships. A summary of the dispositions by Series for December 31, 20172020 is as follows:
| | | | | | | | | | |
| | Operating | | Sale of | | | | | | |
| | Partnership | | Underlying | | Fund Proceeds | | | | |
| | Interest | | Operating | | (loss) from | | Gain (loss) on | ||
|
| Transferred |
| Partnership |
| Disposition * |
| Disposition | ||
Series 26 | | 2 | | 0 | | $ | 18,800 | | $ | 18,800 |
Series 29 | | 3 | | 0 | | | 44,500 | | | 44,500 |
Series 32 | | 1 | | 0 | |
| 79,208 | |
| 79,208 |
Series 34 | | 1 | | 0 | |
| 20,800 | |
| 20,800 |
Series 41 | | 2 | | 0 | | | 64,500 | | | 64,500 |
Series 42 | | 3 | | 1 | | | 722,200 | | | 722,454 |
Series 43 | | 11 | | 0 | |
| 186,635 | |
| 186,635 |
Series 44 | | 0 | | 0 | | | (83,058) | | | (83,058) |
Series 45 | | 1 | | 1 | |
| 199,692 | |
| 199,692 |
Series 46 | | 2 | | 0 | | | 113,326 | | | 113,326 |
Total | | 26 | | 2 | | $ | 1,366,603 | | $ | 1,366,857 |
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$254, which was due to a writeoffwrite-off of capital contribution payable as of December 31, 2017,2020, for Series 30, Series 33 and Series 37, respectively.
42.
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'sFund’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.
175
Boston CapitalBF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
2021
(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, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
The Fund'sFund’s fiscal year ends March 31st for each year, while all the Operating Partnerships'Partnerships’ fiscal years are the calendar year. Pursuant to the provisions of each Operating Partnership Agreement,Partnership’s 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'sPartnership’s quarterly period. Accordingly, the current financial results available for the Operating Partnerships are for the nine months ended September 30, 2017.
2021.
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,(Unaudited)
2017 | 2016 | ||
Revenues | |||
Rental | $ 39,192,976 | $ 51,924,209 | |
Interest and other | 1,235,063 | 2,034,484 | |
40,428,039 | 53,958,693 | ||
Expenses | |||
Interest | 6,754,119 | 9,129,281 | |
Depreciation and amortization | 10,698,194 | 14,396,782 | |
Operating expenses | 28,924,546 | 37,800,040 | |
46,376,859 | 61,326,103 | ||
NET LOSS | $ (5,948,820) | $ (7,367,410) | |
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.* |
|
| |
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 - CONTINUEDDecember 31, 2017
(Unaudited)
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | |
| | |
|
Rental | | $ | 7,472,044 | | $ | 13,472,129 |
Interest and other | | | 147,786 | | | 252,018 |
| |
| 7,619,830 | | | 13,724,147 |
| | | | | | |
Expenses | | | | |
| |
Interest | |
| 1,429,567 | |
| 2,594,439 |
Depreciation and amortization | |
| 1,446,981 | |
| 2,828,896 |
Operating expenses | | | 4,605,616 | | | 8,606,678 |
| | | 7,482,164 | | | 14,030,013 |
| | | | | | |
NET INCOME (LOSS) | | $ | 137,666 | | $ | (305,866) |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 136,289 | | $ | (302,809) |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 1,377 | | $ | (3,057) |
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine 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'sPartnership’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.
176
Boston CapitalBF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 2120
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 0 |
Interest and other | | | 0 | |
| 0 |
| | | 0 | |
| 0 |
| | | | | | |
Expenses | | |
| |
|
|
Interest | | | 0 | |
| 0 |
Depreciation and amortization | | | 0 | |
| 0 |
Operating expenses | | | 0 | |
| 0 |
| | | 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | 0 |
|
| ||
| |||
|
|
| |
|
|
| |
|
| ||
| |||
|
|
| |
|
|
| |
|
|
| |
|
| ||
|
|
| |
|
|
| |
|
|
|
* 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'sPartnership’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.
177
Boston CapitalBF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 22
2017 | 2016 | ||
Revenues | |||
Rental | $ 382,584 | $ 380,419 | |
Interest and other | 13,663 | 15,355 | |
396,247 | 395,774 | ||
Expenses | |||
Interest | 34,025 | 38,301 | |
Depreciation and amortization | 103,504 | 84,013 | |
Operating expenses | 311,606 | 322,022 | |
449,135 | 444,336 | ||
NET LOSS | $ (52,888) | $ (48,562) | |
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.* |
|
| |
Net loss allocated to other |
|
|
21
* Amounts include $(52,359) and $(48,076) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.
| | | | | | |
|
| 2021 | | 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 0 |
Interest and other | |
| 0 | |
| 0 |
| |
| 0 | | | 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Interest | |
| 0 | |
| 0 |
Depreciation and amortization | |
| 0 | |
| 0 |
Operating expenses | |
| 0 | |
| 0 |
| | | 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | 0 |
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'sPartnership’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.
178
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 22
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 0 |
Interest and other | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Interest | |
| 0 | |
| 0 |
Depreciation and amortization | |
| 0 | |
| 0 |
Operating expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | 0 |
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.
179
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 23
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 0 |
Interest and other | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Interest | |
| 0 | |
| 0 |
Depreciation and amortization | |
| 0 | |
| 0 |
Operating expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | 0 |
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.
180
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 24
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 0 |
Interest and other | |
| 0 | |
| 0 |
| |
| 0 | | | 0 |
| |
| | | | |
Expenses | |
|
| |
|
|
Interest | |
| 0 | |
| 0 |
Depreciation and amortization | |
| 0 | |
| 0 |
Operating expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | 0 |
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.
181
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 25
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 0 |
Interest and other | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Interest | |
| 0 | |
| 0 |
Depreciation and amortization | |
| 0 | |
| 0 |
Operating expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | 0 |
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.
182
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 26
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 134,928 |
Interest and other | |
| 0 | |
| 3,659 |
| |
| 0 | |
| 138,587 |
| | | | | | |
Expenses | |
|
| |
| |
Interest | |
| 0 | |
| 39,660 |
Depreciation and amortization | |
| 0 | |
| 32,702 |
Operating expenses | |
| 0 | |
| 117,134 |
| |
| 0 | |
| 189,496 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | (50,909) |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | (50,400) |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | (509) |
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.
183
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 27
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 0 |
Interest and other | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Interest | |
| 0 | |
| 0 |
Depreciation and amortization | |
| 0 | |
| 0 |
Operating expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | 0 |
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.
184
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 28
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 0 |
Interest and other | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| |
| | | | |
Expenses | |
|
| |
|
|
Interest | |
| 0 | |
| 0 |
Depreciation and amortization | |
| 0 | |
| 0 |
Operating expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | 0 |
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.
185
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 29
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 232,847 | | $ | 404,414 |
Interest and other | |
| — | |
| 17,415 |
| |
| 232,847 | |
| 421,829 |
| | | | | | |
Expenses | |
|
| |
|
|
Interest | |
| 20,033 | |
| 63,653 |
Depreciation and amortization | |
| 30,701 | |
| 67,110 |
Operating expenses | |
| 236,855 | |
| 372,500 |
| |
| 287,589 | |
| 503,263 |
| | | | | | |
NET INCOME (LOSS) | | $ | (54,742) | | $ | (81,434) |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | (54,195) | | $ | (80,620) |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | (547) | | $ | (814) |
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.
186
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 30
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 0 |
Interest and other | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Interest | |
| 0 | |
| 0 |
Depreciation and amortization | |
| 0 | |
| 0 |
Operating expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | 0 |
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.
187
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 31
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 0 |
Interest and other | | | 0 | |
| 0 |
| | | 0 | |
| 0 |
| | | | | | |
Expenses | | |
| |
|
|
Interest | | | 0 | |
| 0 |
Depreciation and amortization | | | 0 | |
| 0 |
Operating expenses | | | 0 | |
| 0 |
| | | 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | 0 |
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.
188
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 32
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 622,470 |
Interest and other | |
| 0 | |
| 14,241 |
| |
| 0 | |
| 636,711 |
| | | | | | |
Expenses | |
|
| |
|
|
Interest | |
| 0 | |
| 107,406 |
Depreciation and amortization | |
| 0 | |
| 147,657 |
Operating expenses | |
| 0 | |
| 481,661 |
| |
| 0 | |
| 736,724 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | (100,013) |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | (99,013) |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | (1,000) |
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.
189
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 33
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 673,366 |
Interest and other | |
| 0 | |
| 23,746 |
| |
| 0 | |
| 697,112 |
| | | | | | |
Expenses | |
|
| |
|
|
Interest | |
| 0 | |
| 111,984 |
Depreciation and amortization | |
| 0 | |
| 144,102 |
Operating expenses | |
| 0 | |
| 518,342 |
| |
| 0 | |
| 774,428 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | (77,316) |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | (76,543) |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | (773) |
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.
190
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 34
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 428,730 | | $ | 365,156 |
Interest and other | |
| 16,679 | |
| 12,279 |
| |
| 445,409 | |
| 377,435 |
| | | | | | |
Expenses | |
|
| |
|
|
Interest | |
| 65,027 | |
| 66,036 |
Depreciation and amortization | |
| 63,958 | |
| 64,097 |
Operating expenses | |
| 272,129 | |
| 293,248 |
| |
| 401,114 | |
| 423,381 |
| | | | | | |
NET INCOME (LOSS) | | $ | 44,295 | | $ | (45,946) |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 43,852 | | $ | (45,487) |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 443 | | $ | (459) |
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.
191
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 35
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 0 |
Interest and other | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
| |
Interest | |
| 0 | |
| 0 |
Depreciation and amortization | |
| 0 | |
| 0 |
Operating expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | 0 |
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.
192
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 36
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 0 |
Interest and other | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Interest | |
| 0 | |
| 0 |
Depreciation and amortization | |
| 0 | |
| 0 |
Operating expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | 0 |
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.
193
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 37
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 0 |
Interest and other | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Interest | |
| 0 | |
| 0 |
Depreciation and amortization | |
| 0 | |
| 0 |
Operating expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | 0 |
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.
194
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 38
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 0 |
Interest and other | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Interest | |
| 0 | |
| 0 |
Depreciation and amortization | |
| 0 | |
| 0 |
Operating expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | 0 |
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.
195
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 39
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 0 |
Interest and other | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Interest | |
| 0 | |
| 0 |
Depreciation and amortization | |
| 0 | |
| 0 |
Operating expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | 0 |
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.
196
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 40
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 0 |
Interest and other | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
|
| |
|
|
Interest | |
| 0 | |
| 0 |
Depreciation and amortization | |
| 0 | |
| 0 |
Operating expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | 0 |
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.
197
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 41
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 1,678,479 | | $ | 2,134,683 |
Interest and other | |
| 25,707 | |
| 29,990 |
| |
| 1,704,186 | |
| 2,164,673 |
| | | | | | |
Expenses | |
|
| |
|
|
Interest | |
| 323,621 | |
| 407,844 |
Depreciation and amortization | |
| 227,435 | |
| 381,604 |
Operating expenses | |
| 1,033,973 | |
| 1,376,860 |
| |
| 1,585,029 | |
| 2,166,308 |
| | | | | | |
NET INCOME (LOSS) | | $ | 119,157 | | $ | (1,635) |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 117,965 | | $ | (1,619) |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 1,192 | | $ | (16) |
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.
198
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 42
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 359,247 | | $ | 345,969 |
Interest and other | |
| 6,069 | |
| 5,103 |
| |
| 365,316 | |
| 351,072 |
| | | | | | |
Expenses | |
| | |
| |
Interest | |
| 54,397 | |
| 55,986 |
Depreciation and amortization | |
| 88,640 | |
| 89,026 |
Operating expenses | |
| 232,081 | |
| 232,964 |
| |
| 375,118 | |
| 377,976 |
| | | | | | |
NET INCOME (LOSS) | | $ | (9,802) | | $ | (26,904) |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | (9,704) | | $ | (26,635) |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | (98) | | $ | (269) |
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.
199
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 43
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 0 | | $ | 0 |
Interest and other | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
Expenses | |
| | |
| |
Interest | |
| 0 | |
| 0 |
Depreciation and amortization | |
| 0 | |
| 0 |
Operating expenses | |
| 0 | |
| 0 |
| |
| 0 | |
| 0 |
| | | | | | |
NET INCOME (LOSS) | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 0 | | $ | 0 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 0 | | $ | 0 |
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.
200
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 44
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 786,198 | | $ | 2,726,860 |
Interest and other | |
| 4,290 | |
| 30,766 |
| |
| 790,488 | |
| 2,757,626 |
| | | | | | |
Expenses | |
| | |
| |
Interest | |
| 159,737 | |
| 652,971 |
Depreciation and amortization | |
| 165,704 | |
| 509,427 |
Operating expenses | |
| 380,716 | |
| 1,180,114 |
| |
| 706,157 | |
| 2,342,512 |
| | | | | | |
NET INCOME (LOSS) | | $ | 84,331 | | $ | 415,114 |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 83,488 | | $ | 410,963 |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 843 | | $ | 4,151 |
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.
201
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 45
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 911,953 | | $ | 2,679,976 |
Interest and other | |
| 8,939 | |
| 37,178 |
| |
| 920,892 | |
| 2,717,154 |
| | | | | | |
Expenses | |
| | |
| |
Interest | |
| 154,513 | |
| 405,974 |
Depreciation and amortization | |
| 286,050 | |
| 670,899 |
Operating expenses | |
| 612,938 | |
| 1,953,016 |
| |
| 1,053,501 | |
| 3,029,889 |
| | | | | | |
NET INCOME (LOSS) | | $ | (132,609) | | $ | (312,735) |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | (131,283) | | $ | (309,608) |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | (1,326) | | $ | (3,127) |
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.
202
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)
Series 46
| | | | | | |
|
| 2021 |
| 2020 | ||
Revenues | | | | | | |
Rental | | $ | 3,074,590 | | $ | 3,384,307 |
Interest and other | |
| 86,102 | |
| 77,641 |
| |
| 3,160,692 | |
| 3,461,948 |
| | | | | | |
Expenses | |
| | |
| |
Interest | |
| 652,239 | |
| 682,925 |
Depreciation and amortization | |
| 584,493 | |
| 722,272 |
Operating expenses | |
| 1,836,924 | |
| 2,080,839 |
| |
| 3,073,656 | |
| 3,486,036 |
| | | | | | |
NET INCOME (LOSS) | | $ | 87,036 | | $ | (24,088) |
| | | | | | |
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | | $ | 86,166 | | $ | (23,847) |
| | | | | | |
Net income (loss) allocated to other Partners | | $ | 870 | | $ | (241) |
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 - CONTINUEDDecember 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, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine Months Ended September 30,(Unaudited)
Series 26
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.
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 27
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 |
|
|
* Amounts include $(82,740) and $(155,976) 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 28
2017 | 2016 | ||
Revenues | |||
Rental | $ 751,710 | $ 736,324 | |
Interest and other | 18,953 | 14,925 | |
770,663 | 751,249 | ||
Expenses | |||
Interest | 122,273 | 113,463 | |
Depreciation and amortization | 169,333 | 173,079 | |
Operating expenses | 587,874 | 655,453 | |
879,480 | 941,995 | ||
NET LOSS | $ (108,817) | $ (190,746) | |
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.* |
|
| |
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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine Months Ended September 30,(Unaudited)
Series 29
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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine Months Ended September 30,(Unaudited)
Series 30
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.
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 31
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 |
|
|
* 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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine Months Ended September 30,(Unaudited)
Series 32
2017 | 2016 | ||
Revenues | |||
Rental | $ 1,475,541 | $ 2,468,262 | |
Interest and other | 35,824 | 278,117 | |
1,511,365 | 2,746,379 | ||
Expenses | |||
Interest | 240,025 | 388,448 | |
Depreciation and amortization | 455,816 | 779,977 | |
Operating expenses | 1,192,506 | 2,010,447 | |
1,888,347 | 3,178,872 | ||
NET LOSS | $ (376,982) | $ (432,493) | |
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.* |
|
| |
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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine Months Ended September 30,(Unaudited)
Series 33
2017 | 2016 | ||
Revenues | |||
Rental | $ 1,040,194 | $ 1,030,707 | |
Interest and other | 36,781 | 34,834 | |
1,076,975 | 1,065,541 | ||
Expenses | |||
Interest | 179,339 | 173,255 | |
Depreciation and amortization | 260,563 | 284,822 | |
Operating expenses | 784,939 | 777,630 | |
1,224,841 | 1,235,707 | ||
NET LOSS | $ (147,866) | $ (170,166) | |
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.* |
|
| |
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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine Months Ended September 30,(Unaudited)
Series 34
2017 | 2016 | ||
Revenues | |||
Rental | $ 728,809 | $ 1,029,229 | |
Interest and other | 26,259 | 32,598 | |
755,068 | 1,061,827 | ||
Expenses | |||
Interest | 78,197 | 156,982 | |
Depreciation and amortization | 206,720 | 283,865 | |
Operating expenses | 565,852 | 841,070 | |
850,769 | 1,281,917 | ||
NET LOSS | $ (95,701) | $ (220,090) | |
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.* |
|
| |
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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine Months Ended September 30,(Unaudited)
Series 35
2017 | 2016 | ||
Revenues | |||
Rental | $ 829,380 | $ 1,684,024 | |
Interest and other | 22,600 | 60,075 | |
851,980 | 1,744,099 | ||
Expenses | |||
Interest | 138,051 | 329,373 | |
Depreciation and amortization | 254,427 | 602,766 | |
Operating expenses | 482,739 | 1,057,585 | |
875,217 | 1,989,724 | ||
NET LOSS | $ (23,237) | $ (245,625) | |
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.* |
|
| |
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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine Months Ended September 30,(Unaudited)
Series 36
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
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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine Months Ended September 30,(Unaudited)
Series 38
2017 | 2016 | ||
Revenues | |||
Rental | $ 1,331,140 | $ 2,435,309 | |
Interest and other | 16,255 | 67,401 | |
1,347,395 | 2,502,710 | ||
Expenses | |||
Interest | 185,342 | 430,695 | |
Depreciation and amortization | 279,470 | 583,791 | |
Operating expenses | 960,761 | 1,692,637 | |
1,425,573 | 2,707,123 | ||
NET LOSS | $ (78,178) | $ (204,413) | |
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.* |
|
| |
Net loss allocated to other |
|
|
* Amounts include $(77,396) and $(202,369) 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 39
|
| ||
| |||
|
|
| |
|
|
| |
|
| ||
| |||
|
|
| |
|
|
| |
|
|
| |
|
| ||
|
|
| |
|
|
| |
|
|
|
* 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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine Months Ended September 30,(Unaudited)
2017 | 2016 | ||
Revenues | |||
Rental | $ 1,677,092 | $ 2,063,291 | |
Interest and other | 37,872 | 40,671 | |
1,714,964 | 2,103,962 | ||
Expenses | |||
Interest | 342,476 | 431,037 | |
Depreciation and amortization | 493,185 | 610,754 | |
Operating expenses | 1,380,725 | 1,411,808 | |
2,216,386 | 2,453,599 | ||
NET LOSS | $ (501,422) | $ (349,637) | |
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.* |
|
| |
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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine Months Ended September 30,(Unaudited)
Series 41
2017 | 2016 | ||
Revenues | |||
Rental | $ 3,731,606 | $ 4,092,808 | |
Interest and other | 78,700 | 105,538 | |
3,810,306 | 4,198,346 | ||
Expenses | |||
Interest | 774,931 | 835,787 | |
Depreciation and amortization | 893,311 | 1,017,190 | |
Operating expenses | 2,606,559 | 2,752,748 | |
4,274,801 | 4,605,725 | ||
NET LOSS | $ (464,495) | $ (407,379) | |
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.* |
|
| |
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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine Months Ended September 30,(Unaudited)
Series 42
2017 | 2016 | ||
Revenues | |||
Rental | $ 2,581,674 | $ 2,696,145 | |
Interest and other | 103,563 | 212,506 | |
2,685,237 | 2,908,651 | ||
Expenses | |||
Interest | 560,478 | 575,368 | |
Depreciation and amortization | 801,778 | 844,726 | |
Operating expenses | 1,918,744 | 2,089,988 | |
3,281,000 | 3,510,082 | ||
NET LOSS | $ (595,763) | $ (601,431) | |
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.* |
|
| |
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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine Months Ended September 30,(Unaudited)
Series 43
2017 | 2016 | ||
Revenues | |||
Rental | $ 3,823,594 | $ 3,876,925 | |
Interest and other | 186,172 | 164,754 | |
4,009,766 | 4,041,679 | ||
Expenses | |||
Interest | 586,218 | 585,992 | |
Depreciation and amortization | 1,263,725 | 1,312,092 | |
Operating expenses | 2,952,130 | 2,959,326 | |
4,802,073 | 4,857,410 | ||
NET LOSS | $ (792,307) | $ (815,731) | |
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.* |
|
| |
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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine Months Ended September 30,(Unaudited)
Series 44
2017 | 2016 | ||
Revenues | |||
Rental | $ 4,397,610 | $ 4,391,077 | |
Interest and other | 136,412 | 120,037 | |
4,534,022 | 4,511,114 | ||
Expenses | |||
Interest | 1,051,820 | 1,077,199 | |
Depreciation and amortization | 1,025,862 | 1,079,209 | |
Operating expenses | 2,635,539 | 2,519,646 | |
4,713,221 | 4,676,054 | ||
NET LOSS | $ (179,199) | $ (164,940) | |
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.* |
|
| |
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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine Months Ended September 30,(Unaudited)
Series 45
2017 | 2016 | ||
Revenues | |||
Rental | $ 5,430,265 | $ 5,379,892 | |
Interest and other | 110,355 | 106,730 | |
5,540,620 | 5,486,622 | ||
Expenses | |||
Interest | 727,734 | 766,156 | |
Depreciation and amortization | 1,476,660 | 1,506,167 | |
Operating expenses | 3,931,531 | 3,831,853 | |
6,135,925 | 6,104,176 | ||
NET LOSS | $ (595,305) | $ (617,554) | |
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.* |
|
| |
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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONSNine Months Ended September 30,(Unaudited)
Series 46
2017 | 2016 | ||
Revenues | |||
Rental | $ 3,464,867 | $ 3,992,059 | |
Interest and other | 75,287 | 93,126 | |
3,540,154 | 4,085,185 | ||
Expenses | |||
Interest | 707,913 | 876,472 | |
Depreciation and amortization | 857,671 | 976,513 | |
Operating expenses | 2,256,779 | 2,675,201 | |
3,822,363 | 4,528,186 | ||
NET LOSS | $ (282,209) | $ (443,001) | |
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.* |
|
| |
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 - CONTINUEDDecember 31, 2017(Unaudited)
NOTE E - TAXABLE LOSS
The Fund'sFund’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'sFund’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 20132016 remain open.
203
BF Garden Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2021
(Unaudited)
NOTE G – CONTINGENCY
The spread of a novel strain of coronavirus (COVID-19) has caused significant business disruptions in the United States beginning February 2020. The economic impact of the business disruptions caused by COVID-19 is uncertain. The extent of any effects these disruptions may have on the operations and financial performance of the Fund will depend on future developments, including possible impacts on the operations of the underlying real estate of its investments, which cannot be determined.
NOTE H - SUBSEQUENT EVENTS
Subsequent to December 31, 2017,Events that occur after the Fund has entered into an agreement to transferbalance sheet date but before the interest in three operating limited partnerships. The estimated transfer price and other terms for the dispositions of the operating limited partnerships have been determined. The estimated proceedsfinancial statements were available to be receivedissued must be evaluated for recognition or disclosure. The effects of subsequent events that provide evidence about conditions that existed at the operating limited partnership is $755,204. The estimated gain on the transfer of the operating limited partnership is $750,204and is expected to bebalance sheet date are recognized in the fourth quarteraccompanying financial statements. Subsequent events, which provide evidence about conditions that existed after the balance sheet date, require disclosure in the accompanying notes. Management evaluated the activity of fiscal year ending March 31, 2018.the Fund through the date the financial statements were issued, and concluded that, other than the subsequent event discussed below, no subsequent events have occurred that would require recognition in the financial statements or disclosure in the notes to the financial statements.
204
Item 2. Management'sManagement’s Discussions and Analysis of Financial Condition and
Results of Operations
This Management'sManagement’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“forward looking statements"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"“Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended March 31, 2017.2021. 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.
BF Garden Tax Credit Fund IV L.P., a Delaware limited partnership formerly known as Boston Capital Tax Credit Fund IV L.P. (the “Fund”), was organized as of October 5, 1993 to invest as a limited partner in operating partnerships (the “Operating Partnerships”), each of which owns or leases and operates an apartment complex exclusively or partially for low- and moderate-income tenants. Effective as of December 15, 2020, Corporate Investment Holdings, Inc., a Massachusetts corporation owned by BF Garden Companion Limited Partnership, a Massachusetts limited partnership formerly known as Boston Capital Companion Limited Partnership (“Companion”), replaced BCA Associates Limited Partnership as the general partner of the Fund’s general partner, BF Garden Associates IV L.P., a Delaware limited partnership formerly known as Boston Capital Associates IV L.P. Additionally, Companion replaced Capital Investment Holdings IV Limited Partnership as the sole limited partner of the Fund’s General Partner. Also effective as of December 15, 2020, BFBC Holdings GP, LLC, a Delaware limited liability company and an affiliate of Boston Financial Investment Management, LP, a Delaware limited partnership (“BFIM”), replaced Boston Capital Partners II Corporation as the general partner of Companion; and BFIM replaced Boston Capital Companion Holdings Limited Partnership as the sole limited partner of Companion. The assignor limited partner of the Fund continues to be BCTC IV Assignor Corp., a Delaware corporation which is now wholly owned by Companion.
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, 20172021 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'sFund’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, 20172021 were $572,291$93,612 and total fund management fees accrued as of December 31, 20172021 were $32,440,446.$11,482,092. During the nine months ended December 31, 2017, $8,519,8592021, $1,512,588 of the accrued fund management fees were paid. Pursuant to the Partnership Agreement,Fund’s 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'sFund’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.
205
Capital Resources
The Fund offered BACsbeneficial assignee certificates (“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 Holdersholders 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.
2021.
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, 2017,2021, 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, 2017,2021, 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, 2017,2021, 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, 2017,2021, 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 18all 24 of the Operating Partnerships and 6 remain.
Partnerships.
206
Prior to the quarter ended December 31, 2017,2021, 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, 2017,2021, 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 36all 45 of the Operating Partnerships and 9 remain.
Partnerships.
Prior to the quarter ended December 31, 2017,2021, 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 13all 16 of the Operating Partnerships and 3 remain.
Partnerships.
Prior to the quarter ended December 31, 2017,2021, 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 21all 26 of the Operating Partnerships and 5 remain.
Partnerships.
Prior to the quarter ended December 31, 2017,2021, 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 1421 of the Operating Partnerships and 8 remain.
1 remains.
During the quarter ended December 31, 2017,2021, 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, 2017.2021. 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.
During207
Prior to the quarter ended December 31, 2017,2021, 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 ofsold its interest in 19all 27 of the Operating Partnerships and 8 remain.
Partnerships.
DuringPrior to the quarter ended December 31, 2017,2021, Series 31 did not record any releaseshad released all payments of its capital contributions. Series 31 has outstanding contributions payable to 3 Operating Partnerships in the amount of $66,294 as of December 31, 2017. 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 have achieved the conditions set forth in their respective partnership agreements.
Partnerships.
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 11all 17 of the Operating Partnerships and 6 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 entitledinterests.
Prior 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, 2017,2021, Series 32 did not record any releaseshad released all payments of its capital contributions. Series 32 has outstanding contributions payable to 1 Operating Partnership in the amount of $1,229 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 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 6all 10 of the Operating Partnerships and 4 remain.
Partnerships.
DuringPrior to the quarter ended December 31, 2017,2021, 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 1013 of the Operating Partnerships and 4 remain.
1 remains.
Prior to the quarter ended December 31, 2017,2021, 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 9all 11 of the Operating Partnerships and 2 remain.
Partnerships.
Prior to the quarter ended December 31, 2017,2021, 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 8all 11 of the Operating Partnerships and 3 remain.
Partnerships.
208
Prior to the quarter ended December 31, 2017,2021, 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, 2017,2021, 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 6all 10 of the Operating Partnerships and 4 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.
Partnerships.
Prior to the quarter ended December 31, 2017,2021, Series 38 had released all payments of its capital contributions to the Operating Partnerships.Partnerships, and the general partner interest of the other operating limited partnerships had been disposed.
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, 2017,2021, Series 39 had released all payments of its capital contributions to the Operating Partnerships.Partnerships, and the general partner interest of the other operating limited partnerships had been disposed.
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 7all 16 of the Operating Partnerships and 9 remain. In addition, the Fund committed and used $578,755 of Series 40 net offering proceedsPartnerships.
Prior 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, 2017,2021, Series 40 did not record any releaseshad released all payments of its capital contributions. Series 40 has outstanding contributions payable to 1 Operating Partnership in the amount of $102 as of December 31, 2017. The remaining contributions will be released when the Operating Partnership has achievedPartnerships, and the conditions set forth in its partnership agreement.
general partner interest of the other operating limited partnerships had been disposed.
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 922 of the Operating Partnerships and 14 remain. In addition, the Fund committed and used $195,249 of Series 41 net offering proceeds1 remains.
Prior 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.
During the quarter ended December 31, 2017,2021, 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 1021 of the Operating Partnerships and 132 remain.
During209
Prior to the quarter ended December 31, 2017,2021, Series 42 had released $9,503all payments of its capital contributions. Series 42 has outstanding contributions payable to 1 Operating Partnership in the amount of $254 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 43
The Fund commenced offering BACs in Series 43 on August 1, 2002. Offers and sales of BCAs in Series 43 were completed in JuneSeptember 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 5all 23 of the Operating Partnerships and 18 remain. The Fund also committed and used $805,160 of Series 43 net offering proceedsPartnerships.
Prior 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, 2017,2021, Series 43 had released $9,508all payments of its capital contributions. Series 43 has outstanding contributions payable to 1 Operating Partnership in the amount of $26,082 as of December 31, 2017. The remaining contributions will be released when the Operating Partnership has achievedPartnerships, and the conditions set forth in its partnership agreement.
general partner interest of the other operating limited partnerships had been disposed.
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 39 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.
1 remains.
Prior to the quarter ended December 31, 2017,2021, 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 427 of the Operating Partnerships and 274 remain. In addition, the Fund committed and used $302,862 of Series 45 net offering proceeds
Prior 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, 2017,2021, Series 45 did not record any releaseshad released all payments of its capital contributions. Series 45 has outstanding contributions payable to 1 Operating Partnership in the amount of $16,724 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 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 17 of the Operating Partnerships and 148 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, 2017,2021, Series 46 had released all payments of its capital contributions to the Operating Partnerships.
Results of Operations
As of December 31, 20172021 and 2016,2020, the Fund held limited partnership interests in 17918 and 21940 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“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 originally incurred a fund management fee to Boston Capital Asset Management Limited Partnership, formerly an affiliate of the Fund’s general partner. As part of the sale disclosed in Note A, the fund management fee is now with BF Garden Companion Limited Partnership (formerly known as Boston Capital Companion Limited Partnership), an affiliate of the Fund’s general partner, in an amount equal to .5annual fund management fee of.5 percent of the aggregate cost of the apartment complexes owned by the Operating Partnerships,
210
less the amount of variouscertain 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, 2017,2021 are as follows:
|
| 3 Months | ||||||||||
| | | | | | | ��� | | | |||
|
| | |
| | |
| 3 Months | ||||
| | 3 Months | | 3 Months | | Fund Management Fee Net | ||||||
| | Gross Fund | | Asset Management and | | of Asset Management and | ||||||
|
| Management Fee |
| Reporting Fee |
| Reporting Fee | ||||||
Series 20 | $ 5,536 | $ 200 | $ 5,336 | | $ | — | | $ | — | | $ | — |
Series 21 | 2,216 | - | 2,216 | |
| — | |
| — | |
| — |
Series 22 | 7,303 | - | 7,303 | |
| — | |
| — | |
| — |
Series 23 | 5,556 | - | 5,556 | |
| — | |
| — | |
| — |
Series 24 | 12,588 | 490 | 12,098 | |
| — | |
| — | |
| — |
Series 25 | - | - | - | |
| — | |
| — | |
| — |
Series 26 | 15,609 | - | 15,609 | |
| — | |
| — | |
| — |
Series 27 | 8,915 | 8,760 | 155 | |
| — | |
| — | |
| — |
Series 28 | 8,844 | - | 8,844 | |
| — | |
| — | |
| — |
Series 29 | 20,547 | - | 20,547 | |
| 1,128 | |
| — | |
| 1,128 |
Series 30 | 12,609 | 2,400 | 10,209 | |
| — | |
| — | |
| — |
Series 31 | 19,092 | - | 19,092 | |
| — | |
| — | |
| — |
Series 32 | 23,234 | 6,000 | 17,234 | |
| — | |
| — | |
| — |
Series 33 | 15,654 | 18,840 | (3,186) | |
| — | |
| — | |
| — |
Series 34 | 12,365 | - | 12,365 | |
| 4,623 | |
| — | |
| 4,623 |
Series 35 | 10,653 | 3,200 | 7,453 | |
| — | |
| — | |
| — |
Series 36 | 7,626 | - | 7,626 | |
| — | |
| — | |
| — |
Series 37 | 10,957 | - | 10,957 | |
| — | |
| — | |
| — |
Series 38 | 18,234 | 10,200 | 8,034 | |
| — | |
| — | |
| — |
Series 39 | 1,712 | - | 1,712 | |
| — | |
| — | |
| — |
Series 40 | 26,594 | 11,475 | 15,119 | |
| — | |
| — | |
| — |
Series 41 | 49,564 | 11,715 | 37,849 | |
| 20,094 | |
| 1,915 | |
| 18,179 |
Series 42 | 40,788 | 5,739 | 35,049 | |
| 4,050 | |
| — | |
| 4,050 |
Series 43 | 55,612 | 1,365 | 54,247 | |
| — | |
| — | |
| — |
Series 44 | 57,825 | 26,120 | 31,705 | |
| 7,935 | |
| — | |
| 7,935 |
Series 45 | 70,359 | 2,005 | 68,354 | |
| 15,021 | |
| 5 | |
| 15,016 |
Series 46 | 52,299 | 6,931 | 45,368 | |
| 40,761 | |
| 4,686 | |
| 36,075 |
$572,291 | $115,440 | $456,851 | ||||||||||
| | $ | 93,612 | | $ | 6,606 | | $ | 87,006 |
211
| | | | | | | | | |
|
| | |
| | |
| 9 Months | |
| | 9 Months | | 9 Months | | Fund Management Fee Net | |||
| | Gross Fund | | Asset Management and | | of Asset Management and | |||
|
| Management Fee |
| Reporting Fee |
| Reporting Fee | |||
Series 20 | | $ | — | | $ | — | | $ | — |
Series 21 | |
| — | |
| — | |
| — |
Series 22 | |
| — | |
| — | |
| — |
Series 23 | |
| — | |
| — | |
| — |
Series 24 | |
| — | |
| — | |
| — |
Series 25 | |
| — | |
| — | |
| — |
Series 26 | |
| 3,665 | |
| — | |
| 3,665 |
Series 27 | |
| — | |
| — | |
| — |
Series 28 | |
| — | |
| — | |
| — |
Series 29 | |
| 7,534 | |
| 4,319 | |
| 3,215 |
Series 30 | |
| — | |
| — | |
| — |
Series 31 | |
| — | |
| — | |
| — |
Series 32 | |
| 4,091 | |
| — | |
| 4,091 |
Series 33 | |
| 4,334 | |
| — | |
| 4,334 |
Series 34 | |
| 13,869 | |
| 3,000 | |
| 10,869 |
Series 35 | |
| — | |
| — | |
| — |
Series 36 | |
| — | |
| — | |
| — |
Series 37 | |
| — | |
| — | |
| — |
Series 38 | |
| — | |
| — | |
| — |
Series 39 | |
| — | |
| — | |
| — |
Series 40 | |
| — | |
| — | |
| — |
Series 41 | |
| 60,282 | |
| 1,915 | |
| 58,367 |
Series 42 | |
| 12,150 | |
| 2,500 | |
| 9,650 |
Series 43 | |
| — | |
| — | |
| — |
Series 44 | |
| 32,733 | |
| 5,257 | |
| 27,476 |
Series 45 | |
| 65,337 | |
| 22,502 | |
| 42,835 |
Series 46 | |
| 126,615 | |
| 17,898 | |
| 108,717 |
| | $ | 330,610 | | $ | 57,391 | | $ | 273,219 |
|
| 9 Months | |
Series 20 | $ 16,607 | $ 2,312 | $ 14,295 |
Series 21 | 7,654 | 2,051 | 5,603 |
Series 22 | 21,909 | 500 | 21,409 |
Series 23 | 16,668 | 1,750 | 14,918 |
Series 24 | 37,764 | 2,835 | 34,929 |
Series 25 | 11,374 | 1,692 | 9,682 |
Series 26 | 60,699 | 3,841 | 56,858 |
Series 27 | 33,438 | 10,760 | 22,678 |
Series 28 | 26,532 | 2,000 | 24,532 |
Series 29 | 61,640 | 3,387 | 58,253 |
Series 30 | 41,872 | 50,954 | (9,082) |
Series 31 | 62,490 | 1,500 | 60,990 |
Series 32 | 75,974 | 12,500 | 63,474 |
Series 33 | 48,449 | 25,340 | 23,109 |
Series 34 | 37,097 | 4,200 | 32,897 |
Series 35 | 45,615 | 5,659 | 39,956 |
Series 36 | 22,878 | 1,910 | 20,968 |
Series 37 | 35,959 | 8,018 | 27,941 |
Series 38 | 54,702 | 10,700 | 44,002 |
Series 39 | 5,130 | - | 5,130 |
Series 40 | 85,069 | 11,475 | 73,594 |
Series 41 | 155,150 | 13,663 | 141,487 |
Series 42 | 126,528 | 12,686 | 113,842 |
Series 43 | 170,998 | 20,795 | 150,203 |
Series 44 | 173,476 | 27,120 | 146,356 |
Series 45 | 211,077 | 17,871 | 193,206 |
Series 46 | 156,897 | 17,559 | 139,338 |
$1,803,646 | $273,078 | $1,530,568 |
The Fund'sFund’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'sFund’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
The series did not have any properties as of December 31, 2021 and 2020.
Series 21
The series did not have any properties as of December 31, 2021 and 2020.
Series 22
The series did not have any properties as of December 31, 2021 and 2020.
Series 23
The series did not have any properties as of December 31, 2021 and 2020.
212
Series 24
The series did not have any properties as of December 31, 2021 and 2020.
Series 25
The series did not have any properties as of December 31, 2021 and 2020.
Series 26
As of December 31, 20172020, the average Qualified Occupancy for the series was 100%. The series did not have any properties as of December 31, 2021.
For the nine month periods ended December 31, 2021 and 2016,2020, Series 26 reflects a net loss from Operating Partnerships of $(-) and $(50,909), respectively, which includes depreciation and amortization of $- and $32,702, respectively. This is an interim period estimate; it is not indicative of the final year-end results.
In December 2020, the investment general partner transferred its interest in New Devonshire II, L.P., with cash proceeds to the investment partnership of $11,200. These proceeds were returned to cash reserves held by Series 26 and recorded as a gain on transfer as of December 31, 2020.
In December 2020, the investment general partner transferred its interest in New Devonshire West, L.P., with cash proceeds to the investment partnership of $7,600. These proceeds were returned to cash reserves held by Series 26 and recorded as a gain on transfer as of December 31, 2020.
In August 2021, the investment general partner transferred its interest in Brookhaven Apartments Partnership, A Louisiana Partners, with cash proceeds to the investment partnership of $20,845. These proceeds were returned to cash reserves held by Series 26 and recorded as a gain on transfer as of December 31, 2021.
Series 27
The series did not have any properties as of December 31, 2021 and 2020.
Series 28
The series did not have any properties as of December 31, 2021 and 2020.
Series 29
As of December 31, 2021 and 2020, the average Qualified Occupancy for the series was 100%. The series had a total of 2 properties1 property at December 31, 2017, all of2021, which werewas at 100% Qualified Occupancy.
For the nine month periodsended December 31, 20172021 and 2016,2020, Series 2029 reflects a net loss from Operating Partnerships of $(63,950)$(54,742) and $(50,641)$(81,434), respectively, which includes depreciation and amortization of $91,765$30,701 and $122,081,$67,110, 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,April 2020, 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 be 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.
Series 21
As of December 31, 2016, the average Qualified Occupancy for the series was 100%.The series did not have any properties as of December 31, 2017.
For the nine month periods ended December 31, 2017 and 2016, 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 be 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 be 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 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 22 reflects a net loss from Operating Partnerships of $(52,888) and $(48,562), 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, respectively. This is an interim period estimate; it is not indicative of the final year-end results.
In June 2016, the investment general partner of Boston Capital Tax Credit Fund III - Series 16 and Series 23 transferred their respective interests in Mid City Associates Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $4,890,361 and cash proceeds to the investment partnerships of $124,955 and $4,545, for Series 16 and Series 23, respectively. Of the total proceeds received, $27,340 and $995, for Series 16 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 and $3,550, for Series 16 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 as of March 31, 2017.
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.
Series 24
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 24 reflects a net loss from Operating Partnerships of $(114,786) and $(95,040), respectively, which includes depreciation and amortization of $211,044 and $205,010, respectively. This is an interim period estimate; it is not indicative of the final year-end results.
Series 25
As of December 31, 2016, the average Qualified Occupancy for the series was 100%.The series did not have any properties as of December 31, 2017.
For the nine month periods ended December 31, 2017 and 2016, Series 25 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 EthelPoplarville 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, 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$356,220 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, a29. 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, 2017.2020.
213
In September 2017,October 2020, the investment general partner transferred its interest in Shannon Housing,Ozark Associates, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,157,526$396,535 and cash proceeds to the investment partnership of $36,000.$16,000. Of the total proceeds received, $1,500$3,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $34,500$13,000 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, a29. 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$13,000 as of September 30, 2017.
December 31, 2020.
In September 2017,October 2020, the investment general partner of transferred its interest in West Point Housing,Westfield Apartments Partnership, A LA Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $638,133$919,015 and cash proceeds to the investment partnership of $35,311. Of$30,000 of the total proceeds received, $1,412$8,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $33,899$22,000 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, a29. 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$22,000 as of December 31, 2020.
In August 2021, the investment general partner transferred its interest in Palmetto Place Apartments Partnership, A LA Partnership, with cash proceeds to the investment partnership of $29,999. These proceeds were returned to cash reserves held by Series 29 and recorded as a gain on transfer as of September 30, 2017.2021.
The investment general partner will continue to monitor the following Operating Partnership because of operational or other issues. However, this Operating Partnerships has exited its LIHTC compliance period and there is therefore no risk to past credit delivery.
Lincoln Hotel Partnership, A California Limited Partnership
Series 26
30
The series did not have any properties as of December 31, 2021 and 2020.
Series 31
The series did not have any properties as of December 31, 2021 and 2020.
Series 32
As of December 31, 20172020, the average Qualified Occupancy for the series was 100%. The series did not have any properties as of December 31, 2021.
For the nine month periods ended December 31, 2021 and 2016,2020, Series 32 reflects a net loss from Operating Partnerships of $(-) and $(100,013), respectively, which includes depreciation and amortization of $- and $147,657, respectively. This is an interim period estimate; it is not indicative of the final year-end results.
In December 2020, the investment general partner transferred its interest in Parkside Plaza LLP, with cash proceeds to the investment partnership of $79,208 and $792, for Series 32 and Series 43, respectively. These proceeds were returned to cash reserves held by Series 32 and Series 43 and recorded as a gain on transfer as of December 31, 2020.
In January 2021, the investment general partner sold its interest in Kiest Townhomes, L.P., with cash proceeds to the investment partnership of $2,530,007 and $2,530,007, for Series 32 and Series 33, respectively. Of the total proceeds received by the investment partnership, $37,987 and $37,987, for Series 32 and Series 33, respectively, represent reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the sale. The remaining proceeds of $2,492,020 and $2,492,020, for Series 32 and Series 33, respectively, were returned to cash reserves and recorded as a gain on sale as of March 31, 2021.
214
In August 2021, the investment general partner transferred its interest in Pecan Manor Apartments Partnership, A Louisiana Partnership in Commendam, with cash proceeds to the investment partnership of $23,823. These proceeds were returned to cash reserves held by Series 32 and recorded as a gain on transfer as of September 30, 2021.
Series 33
As of December 31, 2020, the average Qualified Occupancy for the series was 100%. The series did not have any properties as of December 31, 2021.
For the nine month periods ended December 31, 2021 and 2020, Series 33 reflects a net loss from Operating Partnerships of $(-) and $(77,316), respectively, which includes depreciation and amortization of $- and $144,102, respectively. This is an interim period estimate; it is not indicative of the final year-end results.
In January 2021, the investment general partner sold its interest in Kiest Townhomes, L.P., with cash proceeds to the investment partnership of $2,530,007 and $2,530,007, for Series 32 and Series 33, respectively. Of the total proceeds received by the investment partnership, $37,987 and $37,987, for Series 32 and Series 33, respectively, represent reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the sale. The remaining proceeds of $2,492,020 and $2,492,020, for Series 32 and Series 33, respectively, were returned to cash reserves and recorded as a gain on sale as of March 31, 2021.
In August 2021, the investment general partner transferred its interest in Forest Park Apartments Partnership, A Louisiana Partnership in Commendam, with cash proceeds to the investment partnership of $23,823. These proceeds were returned to cash reserves held by Series 33 and recorded as a gain on transfer as of September 30, 2021.
Series 34
As of December 31, 2021 and 2020, the average Qualified Occupancy for the series was 100%. The series had a total of 9 properties1 property at December 31, 2017, all of2021, which werewas at 100% Qualified Occupancy.
For the nine month periods ended December 31, 20172021 and 2016,2020, Series 2634 reflects a net lossincome (loss) from the Operating Partnerships of $(348,980)$44,295 and $(432,310)$(45,946), respectively, which includes depreciation and amortization of $321,930$63,958 and $432,391,$64,097, respectively. This is an interim period estimate; it is not indicative of the final year-end results.
In July 2016,November 2020, the investment general partner transferred its interest in Holly Hills Properties,Montour Falls Village Limited Partnership, with cash proceeds to the investment partnership of $24,000. Of the total proceeds received, $1,200 represents reporting fees due to an affiliate of the investment partnership, and $2,000 was paid for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $20,800 were returned to cash reserves held by Series 34. A gain on the transfer of the Operating Partnership, net of the overhead and expense reimbursement, has been recorded in the amount of $20,800 as of December 31, 2020.
Series 35
The series did not have any properties as of December 31, 2021 and 2020.
Series 36
The series did not have any properties as of December 31, 2021 and 2020.
Series 37
The series did not have any properties as of December 31, 2021 and 2020.
Series 38
The series did not have any properties as of December 31, 2021 and 2020.
215
Series 39
The series did not have any properties as of December 31, 2021 and 2020.
Series 40
The series did not have any properties as of December 31, 2021 and 2020.
Series 41
As of December 31, 2021 and 2020, the average Qualified Occupancy for the series was 100%. The series had a total of 1 property at December 31, 2021, which was at 100% Qualified Occupancy.
For the nine month periods ended December 31, 2021 and 2020, Series 41 reflects a net income (loss) from Operating Partnerships of $119,157 and $(1,635), respectively, which includes depreciation and amortization of $227,435 and $381,604, respectively. This is an interim period estimate; it is not indicative of the final year-end results.
In August 2020, the investment general partner transferred its interest in Cranberry Cove Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $794,392$895,911 and cash proceeds to the investment partnership of $22,500.$49,000. Of the total proceeds received, $4,000$2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $18,500$46,500 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, a41. 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$46,500 as of September 30, 2016.
2020.
In September 2017,December 2020, the investment general partner transferred its interest in Mason Housing,Cedar Grove Apartments, Phase I Limited Partnership, with cash proceeds to the investment partnership of $18,000. These proceeds were returned to cash reserves held by Series 41 and recorded as a gain on transfer as of December 31, 2020.
In March 2021, the investment general partner transferred its interest in Rural Housing Partners of Fulton Limited Partnership, with cash proceeds to the investment partnership of $8,400. These proceeds were returned to cash reserves held by Series 41 and recorded as a gain on transfer as of March 31, 2021.
In March 2021, the investment general partner transferred its interest in Rural Housing Partners of Mendota Limited Partnership, with cash proceeds to the investment partnership of $12,600. These proceeds were returned to cash reserves held by Series 41 and recorded as a gain on transfer as of March 31, 2021.
In March 2021, the investment general partner transferred its interest in Rural Housing Partners of Mt. Carroll Limited Partnership, with cash proceeds to the investment partnership of $6,300. These proceeds were returned to cash reserves held by Series 41 and recorded as a gain on transfer as of March 31, 2021.
In March 2021, the investment general partner transferred its interest in Rural Housing Partners of Franklin Grove Limited Partnership, with cash proceeds to the investment partnership of $6,300. These proceeds were returned to cash reserves held by Series 41 and recorded as a gain on transfer as of March 31, 2021.
In December 2021, the investment general partner transferred its interest in Halfmoon BDC, Limited Partnership, with no cash proceeds to the investment partnership for Series 41 and Series 45, respectively.
In January 2022, the investment general partner of Series 41 and Series 42 transferred their respective interest in Marwood Senior Associates, LLC, with cash proceeds to the investment partnership of $1,151,653 and $128,346, for Series 41 and Series 42, respectively. These proceeds of $1,151,653 and $128,346, for Series 41 and Series 42, respectively, were returned to cash reserves and recorded as a gain on transfer as of January 31, 2022.
216
Series 42
As of December 31, 2021 and 2020, the average Qualified Occupancy for the series was 100%. The series had a total of 2 properties at December 31, 2021, all of which were at 100% Qualified Occupancy.
For the nine month periods ended December 31, 2021 and 2020, Series 42 reflects a net loss from Operating Partnerships of $(9,802) and $(26,904), respectively, which includes depreciation and amortization of $88,640 and $89,026, respectively. This is an entity affiliated withinterim period estimate; it is not indicative of the final year-end results.
In July 2020, the operating general partner for its assumption of Lynnelle Landing Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on October 1, 2020. The sales price of the property was $1,650,000, which included the outstanding mortgage balance of approximately $849,683$1,014,143 and cash proceeds to the investment partnership of $18,000.$130,000. Of the total proceeds received $1,500by the investment partnership, $5,000 was paid to BCAMLP for expenses related to the transfer,sale, which include third party legal costs. In addition, $11,300 was applied to advances outstanding. The remaining proceeds from the sale of approximately $16,500 were$113,700 will be 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, a42. 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$113,700 as of December 31, 2020. In September 30, 2017.
2021, the investment partnership received additional proceeds equal to its share of the Operating Partnership’s cash in the amount of $94,182 which was returned to the cash reserves.
In September 2017,October 2020, the investment general partner transferred its interest in Maxton Green AssociatesWingfield Apartments Partnership II, A LA Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $802,661$112,922 and cash proceeds to the investment partnership of $16,000. Of$31,500 of the total proceeds received, $1,500$6,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $14,500$25,000 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, a42. 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$25,000 as of September 30, 2017.
December 31, 2020
In September 2017,November 2020, the investment general partner transferred its interest in Meridian HousingStrawberry Lane, LLC, with cash proceeds to the investment partnership of $70,000. Of the total proceeds received, $2,500 was paid for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $67,500 were returned to cash reserves held by Series 42. A gain on the transfer of the Operating Partnership, net of the overhead and expense reimbursement, has been recorded in the amount of $67,500 as of December 31, 2020. In addition, equity outstanding for the Operating Partnership in the amount of $254 for Series 42 was recorded as gain on the sale of the Operating Partnership as of December 31, 2020.
In November 2020, the investment general partner transferred its interest in Parkhurst Place Limited Partnership, with cash proceeds to the investment partnership of $525,000. Of the total proceeds received, $9,000 was paid for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $516,000 were returned to cash reserves held by Series 42. A gain on the transfer of the Operating Partnership, net of the overhead and expense reimbursement, has been recorded in the amount of $516,000 as of December 31, 2020.
In January 2022, the investment general partner of Series 41 and Series 42 transferred their respective interest in Marwood Senior Associates, LLC, with cash proceeds to the investment partnership of $1,151,653 and $128,346, for Series 41 and Series 42, respectively. These proceeds of $1,151,653 and $128,346, for Series 41 and Series 42, respectively, were returned to cash reserves and recorded as a gain on transfer as of January 31, 2022.
In January 2022, the investment general partner sold its interest in New Chester Townhouses II, A Limited Partnership, with cash proceeds to the investment partnership of $25,350. These proceeds were returned to cash reserves held by Series 42 and recorded as a gain on sale as of January 31, 2022.
217
Series 43
The series did not have any properties as of December 31, 2021 and 2020.
In March 2019, the operating general partner of Alexander Mills, LP entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on May 31, 2019. The sales price of the property was $21,216,275, which included the outstanding mortgage balance of approximately $11,408,365 and cash proceeds to the investment partnerships of $1,065,532 and $1,302,317 for Series 43 and Series 44, respectively. Of the total proceeds received by the investment partnerships, $4,950 and $6,050 for Series 43 and Series 44, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $1,060,582 and $1,296,267 for Series 43 and Series 44, respectively, will be returned to cash reserves. 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 $1,060,582 and $1,296,267 for Series 43 and Series 44, respectively, as of September 30, 2019. In December 2019, the investment partnership received its share of the final reconciliation of the Operating Partnership’s cash in the amount of $21,924 and $26,795 for Series 43 and Series 44, respectively, which was returned to the cash reserves. In December 2020, the investment partnership incurred an additional fee in the amount of $67,957 and $83,058 for Series 43 and Series 44, respectively, which was paid from the cash reserves.
In September 2020, the investment general partner transferred its interest in Pyramid Seven Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $651,291$1,200,885 and cash proceeds to the investment partnership of $36,000.$12,000. Of the total proceeds received, $1,500$3,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $34,500$9,000 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, a43. 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$9,000 as of September 30, 2017.
2020.
In September 2017,2020, the investment general partner transferred its interest in Timmonsville Green AssociatesCharlevoix Apartments LDHA, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $970,535$1,013,428 and cash proceeds to the investment partnership of $16,000.$8,000. Of the total proceeds received, $1,500$2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $14,500$5,500 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, a43. 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$5,500 as of September 30, 2017.2020.
In September 2020, the investment general partner transferred its interest in Cloverlane Apartments – Lakeview Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $61,559 and cash proceeds to the investment partnership of $70,800. Of the total proceeds received, $2,500 was paid for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $68,300 were returned to cash reserves held by Series 43.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 $68,300 as of September 30, 2020.
In September 2020, the investment general partner transferred its interest in Lakewood Apartments – Saranac Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $684,395 and cash proceeds to the investment partnership of $4,800. Of the total proceeds received, $2,500 was paid for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $2,300 were returned to cash reserves held by Series 43.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 $2,300 as of September 30, 2020.
In September 2020, the investment general partner transferred its interest in Parkside Apartments – Coleman LDHA Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $357,178 and cash proceeds to the investment partnership of $8,000. Of the total proceeds received, $2,500 was paid 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 43. 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 September 30, 2020.
In September 2020, the investment general partner transferred its interest in Riverview Apartments – Blissfield LDHA Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $515,806 and cash proceeds to the investment partnership of $6,400 of the total proceeds received, $2,500 was paid for
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expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $3,900 were returned to cash reserves held by Series 43.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 as of September 30, 2020.
In September 2020, the investment general partner transferred its interest in Strawberry Lake Apartments – Norway LDHA LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $652,289 and cash proceeds to the investment partnership of $6,400. Of the total proceeds received, $2,500 was paid for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $3,900 were returned to cash reserves held by Series 43.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 as of September 30, 2020.
In September 2020, the investment general partner transferred its interest in New Chester Townhouses II Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $630,455 and cash proceeds to the investment partnership of $13,650. Of the total proceeds received, $4,375 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $875 was paid for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $8,400 were returned to cash reserves held by Series 43. 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 $8,400 as of September 30, 2020.
In November 2020, the investment general partner transferred its interest in Stottville Limited Partnership, with cash proceeds to the investment partnership of $28,000. Of the total proceeds received, $2,000 was paid for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $26,000 were returned to cash reserves held by Series 43. A gain on the transfer of the Operating Partnership, net of the overhead and expense reimbursement, has been recorded in the amount of $26,000 as of December 31, 2020.
In November 2020, the investment general partner transferred its interest in Lyceum Housing Limited Partnership, with cash proceeds to the investment partnership of $130,000. Of the total proceeds received, $9,000 was paid 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 43. A gain on the transfer of the Operating Partnership, net of the overhead and expense reimbursement, has been recorded in the amount of $121,000 as of December 31, 2020.
In December 2020, the investment general partner transferred its interest in Parkside Plaza LLP, with cash proceeds to the investment partnership of $79,208 and $792, for Series 32 and Series 43, respectively. These proceeds were returned to cash reserves held by Series 32 and Series 43 and recorded as a gain on transfer as of December 31, 2020.
Series 44
As of December 31, 2021 and 2020, the average Qualified Occupancy was 100%. The series had a total of 1 property at December 31, 2021, which was at 100% Qualified Occupancy.
For the nine month periods ended December 31, 2021 and 2020, Series 44 reflects a net income from Operating Partnerships of $84,331 and $415,114, respectively, which includes depreciation and amortization of $165,704 and $509,427, respectively. This is an interim period estimate; it is not indicative of the final year-end results.
In March 2019, the operating general partner of Alexander Mills, LP entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on May 31, 2019. The sales price of the property was $21,216,275, which included the outstanding mortgage balance of approximately $11,408,365 and cash proceeds to the investment partnerships of $1,065,532 and $1,302,317 for Series 43 and Series 44, respectively. Of the total proceeds received by the investment partnerships, $4,950 and $6,050 for Series 43 and Series 44, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $1,060,582 and $1,296,267 for Series 43 and Series 44, respectively, will be returned to cash reserves. 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 $1,060,582 and $1,296,267 for Series 43 and Series 44, respectively, as of September 30, 2019. In December 2019, the investment partnership received its share of the final reconciliation of the Operating Partnership’s cash in the amount of $21,924 and $26,795 for Series 43 and Series 44, respectively, which was returned to the cash
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reserves. In December 2020, the investment partnership incurred an additional fee in the amount of $67,957 and $83,058 for Series 43 and Series 44, respectively, which was used from the cash reserves.
In March 2021, the investment general partner of Series 44 and BF Garden Tax Credit Fund V - Series 49 transferred their respective interest in Post Oak East Apartments, L.P., with cash proceeds to the investment partnership of $715,894 and $210,826, for Series 44 and Series 49, respectively. Of the total proceeds received by the investment partnership, $20,664 and $6,082, for Series 44 and Series 49, respectively, represent reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the sale. The remaining proceeds of $695,230 and $204,744, for Series 44 and Series 49, respectively, were returned to cash reserves and recorded as a gain on sale as of March 31, 2021.
In September 2021, the investment general partner sold its interest in North Forty Aspen Plus, L.P., with cash proceeds to the investment partnership of $815,747. These proceeds were returned to cash reserves held by Series 44 and recorded as a gain on sale as of September 30, 2021.
Series 45
As of December 31, 2021 and 2020, the average Qualified Occupancy for the series was 100%. The series had a total of 4 properties at December 31, 2021, all of which were at 100% Qualified Occupancy.
For the nine month periods ended December 31, 2021 and 2020, Series 45 reflects a net loss from Operating Partnerships of $(132,609) and $(312,735), respectively, which includes depreciation and amortization of $286,050 and $670,899, respectively. This is an interim period estimate; it is not indicative of the final year-end results.
In February 2020, the operating general partner of Ridge Crest Apartments, Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on September 3, 2020. The sales price of the property was $4,000,000, which included the outstanding mortgage balance of approximately $2,878,985. Cash proceeds from the sale resulted in a total cash payment to the investment partnership of $210,224. Of the total proceeds received by the investment partnership, $22,432 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 for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $184,792 will be returned to cash reserves held by Series 45. 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 $184,792 as of September 30, 2020. In January 2021, the investment partnership received additional proceeds equal to its share of the Operating Partnership’s cash in the amount of $15,025 which was returned to the cash reserves.
In September 2020, the investment general partner transferred its interest Mill Race Apartments - Plainwell Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $726,236 and cash proceeds to the investment partnership of $17,400 of the total proceeds received, $2,500 was paid for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $14,900 were returned to cash reserves held by Series 45. 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 $14,900 as of September 30, 2020.
In June 2021, the investment general partner of Series 45 and BF Garden Tax Credit Fund V - Series 47 transferred their respective interest in Dawn Springs Villa LP, with cash proceeds to the investment partnership of $22,749 and $12,249, for Series 45 and Series 47, respectively. These proceeds of $22,749 and $12,249, for Series 45 and Series 47, respectively, were returned to cash reserves and recorded as a gain on transfer as of June 30, 2021.
In June 2021, the investment general partner transferred its interest in London Village, Limited, with cash proceeds to the investment partnership of $173,991. These proceeds were returned to cash reserves held by Series 45 and recorded as a gain on transfer as of June 30, 2021.
In June 2021, the investment general partner transferred its interest in Heritage Christian Home III, LP, with cash proceeds to the investment partnership of $14,400. These proceeds were returned to cash reserves held by Series 45 and recorded as a gain on transfer as of June 30, 2021.
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In September 2021, the investment general partner transferred its interest in Childress Apartments, LTD., with cash proceeds to the investment partnership of $39,999. These proceeds were returned to cash reserves held by Series 45 and recorded as a gain on transfer as of September 30, 2021.
In September 2021, the investment general partner of Series 45 and Series 46 sold their respective interest in Bartlett Bayou, L.P., with cash proceeds to the investment partnership of $200,606 and $59,381, for Series 45 and Series 46, respectively. These proceeds of $200,606 and $59,381, for Series 45 and Series 46, respectively, were returned to cash reserves and recorded as a gain on sale as of September 30, 2021.
In December 2021, the investment general partner transferred its interest in Halfmoon BDC, Limited Partnership, with no cash proceeds to the investment partnership for Series 41 and Series 45, respectively.
In December 2021, the investment general partner transferred its interest in Willow Oak and Oroville Apartments, with cash proceeds to the investment partnership of $239,636. These proceeds were returned to cash reserves held by Series 45 and recorded as a gain on transfer as of December 31, 2021.
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.
Harbet Avenue Limited Partnership
Series 46
As of December 31, 2021 and 2020, the average Qualified Occupancy for the series was 100%. The series had a total of 8 properties at December 31, 2021, all of which were at 100% Qualified Occupancy.
For the nine month periods ended December 31, 2021 and 2020, Series 46 reflects a net income (loss) from Operating Partnerships of $87,036 and $(24,088), respectively, which includes depreciation and amortization of $584,493 and $722,272, respectively. This is an interim period estimate; it is not indicative of the final year-end results.
In June 2020, the investment general partner transferred its interest in Clayton Station, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $638,421 and cash proceeds to the investment partnership of $75,000. Of the total proceeds received, $6,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $68,500 were returned to cash reserves held by Series 46. 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 $68,500 as of June 30, 2020.
In December 2020, the investment general partner transferred its interest in Wagoner Village Apartments, Limited Partnership, with cash proceeds to the investment partnership of $44,826. These proceeds were returned to cash reserves held by Series 46 and recorded as a gain on transfer as of December 31, 2020.
In June 2021, the investment general partner transferred its interest in Sandy Hill, Limited, with cash proceeds to the investment partnership of $272,986. These proceeds were returned to cash reserves held by Series 46 and recorded as a gain on transfer as of June 30, 2021.
In September 2021, the investment general partner of Series 45 and Series 46 sold their respective interest in Bartlett Bayou, L.P., with cash proceeds to the investment partnership of $200,606 and $59,381, for Series 45 and Series 46, respectively. These proceeds of $200,606 and $59,381, for Series 45 and Series 46, respectively, were returned to cash reserves and recorded as a gain on sale as of September 30, 2021.
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 HeightsLinden–Shawnee Partners, L.P.
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Ocean East 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, the investment general partner transferred its interest in Sunday Sun Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $794,703 and cash proceeds to the investment partnership of $25,000. 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 $21,000 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 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 as of September 30, 2016.
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, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 5 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 28 reflects a net loss from Operating Partnerships of $(108,817) and $(190,746), respectively, which includes depreciation and amortization of $169,333 and $173,079, respectively. This is an interim period estimate; it is not indicative of the final year-end results.
In June 2016, the investment general partner transferred its interest in Senior Suites Chicago Austin Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $3,875,732 and cash proceeds to the investment partnership of $10,000. 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 $5,000 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 as of June 30, 2016.
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 their 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, 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 29 reflects a net loss from Operating Partnerships of $(395,641) and $(295,769), respectively, which includes depreciation and amortization of $371,636 and $367,084, 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 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 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 30 reflects a net loss from Operating Partnerships of $(103,181) and $(158,143), respectively, which includes depreciation and amortization of $217,874 and $303,986, respectively. This is an interim period estimate; it is not indicative of the final year-end results.
In February 2017, the operating general partner of Linden Partners II,Portland, 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, the investment general partner transferred its interest in Eagles Ridge Terrace Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,391,732 and cash proceeds to the investment partnership of $72,000. 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 $69,500 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 $69,500 as of December 31, 2016.
In December 2016, the investment general partner transferred its interest in Henderson Terrace Apartments to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $399,366 and cash proceeds to the investment partnership of $19,200. 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 $16,700 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 $16,700 as of December 31, 2016.
In December 2016, the investment general partner transferred its interest in Lakeview Little Elm Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $340,752 and cash proceeds to the investment partnership of $19,200. 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 $16,700 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 $16,700 as of December 31, 2016.
In December 2016, the investment general partner transferred its interest in Mesquite Trails Apartments to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $523,176 and cash proceeds to the investment partnership of $28,800. 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 $26,300 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 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 as of December 31, 2016.
In December 2016, the investment general partner transferred its interest in Pilot Point Apartments, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $587,525 and cash proceeds to the investment partnership of $32,000. 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 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 $29,500 as of December 31, 2016.
In December 2016, the investment general partner transferred its interest in Seagraves Apartments, Limited Partnership to an entity affiliated with the operating general partner 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 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 $10,300 as of December 31, 2016.
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 as of December 31, 2016. 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 $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.
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, 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.
In December 2016, the investment general partner transferred its interest in Indiana Development Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,129,504 and cash proceeds to the investment partnership of $47,500. 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 $45,000 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 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 December 31, 2016.
In December 2016, the investment general partner transferred its interest in Granada Rose, Limited Partnership, a Texas Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $124,650 and cash proceeds to the investment partnership of $6,400. 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 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 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 as of December 31, 2016.
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 be 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, 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.
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, 2017 and 2016, the average Qualified Occupancy 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 33 reflects a net loss from Operating Partnerships of $(147,866) and $(170,166), respectively, which includes depreciation and amortization of $260,563 and $284,822, 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 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 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 $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.
In March 2016, the operating general partner of Wedgewood Park Limited Partnership 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 $13,900,000, which included the outstanding mortgage balance of approximately $4,364,386 and cash proceeds to the investment partnerships of $2,333,553 and $2,333,553 for Series 35 and Series 36, respectively. Of the total proceeds received by the investment partnerships, $37,500 and $37,500 for Series 35 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, 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 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 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.
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.
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, 2017.
Series 36
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 36 reflects a net loss from Operating Partnerships of $(98,904) and $(113,395), respectively, which includes depreciation and amortization of $126,835 and $146,670, 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, the operating general partner of Wedgewood Park Limited Partnership 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 $13,900,000, which included the outstanding mortgage balance of approximately $4,364,386 and cash proceeds to the investment partnerships of $2,333,553 and $2,333,553 for Series 35 and Series 36, respectively. Of the total proceeds received by the investment partnerships, $37,500 and $37,500 for Series 35 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, 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 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 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.
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.
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 total of 1 property at December 31, 2017, which was at 100% Qualified Occupancy.
For the nine month periods ended December 31, 2017 and 2016, Series 37 reflects a net loss from Operating Partnerships of $(88,845) and $(463,828), respectively, which includes depreciation and amortization of $197,321 and $622,199, respectively. This is an interim period estimate; it is not indicative of the final year-end results.
In December 2016, the investment general partner transferred their respective interests in Baldwin Villas Limited Partnership 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 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 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 and $415,093 for Series 35 and Series 37, respectively, as of March 31, 2017.
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 all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.
Ashton Ridge L.D.H.A., L.P.
Series 38
As of December 31, 2017 and 2016, the average Qualified Occupancy 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 38 reflects a net loss from Operating Partnerships of $(78,178) and $(204,413), respectively, which includes depreciation and amortization of $279,470 and $583,791, 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, the investment general partner transferred its interest in Edna Vanderbilt, LP, A Texas Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $216,530 and cash proceeds to the investment partnership of $9,600. 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 $7,100 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 as of December 31, 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.
Series 39
As of December 31, 2016, the average Qualified Occupancy for the series was 100%.The series did not have any properties as of December 31, 2017.
For the nine month periods ended December 31, 2017 and 2016, Series 39 reflects 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 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, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 9 properties at December 31, 2017, all of which at 100% Qualified Occupancy.
For the nine month periods ended December 31, 2017 and 2016, Series 40 reflects a net loss from Operating Partnerships of $(501,422) and $(349,637), respectively, which includes depreciation and amortization of $493,185 and $610,754, respectively. This is an interim period estimate; it is not indicative of the final year-end results.
In December 2016, the investment general partner transferred their respective interests in Baldwin Villas Limited Partnership 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 and cash proceeds to the investment partnership of $25,000. 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 $20,500 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 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 March 31, 2017.
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, 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.
MA No 2
Center Place Apartments II Limited Partnership
Oakland Partnership
Series 41
As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 14 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 41 reflects a net loss from Operating Partnerships of $(464,495) and $(407,379), respectively, which includes depreciation and amortization of $893,311 and $1,017,190, respectively. This is an interim period estimate; it is not indicative of the final year-end results.
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 will expire on December 31, 2017.
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.
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 of the outstanding mortgage balance of approximately $680,145 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 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 $70,500 as of March 31, 2017.
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, 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 be 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 be 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, will 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.
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.
Bienville Partnership, A L.P.
San Diego/Fox Hollow, LP
Series 42
As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 13 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 42 reflects a net loss from Operating Partnerships of $(595,763) and $(601,431), respectively, which includes depreciation and amortization of $801,778 and $844,726, respectively. This is an interim period estimate; it is not indicative of the final year-end results.
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.
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 be 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, will 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.
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.
San Diego/Fox Hollow LP.
Wingfield Apartments Partnership II, LP
Series 43
As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 18 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 43 reflects a net loss from Operating Partnerships of $(792,307) and $(815,731), respectively, which includes depreciation and amortization of $1,263,725 and $1,312,092, 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 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, will 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.
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.
San Diego/Fox Hollow LP.
Parkside Plaza, LLP
Series 44
As of December 31, 2017 and 2016, the average Qualified Occupancy was 100%. The series had a total of 7 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 44 reflects a net loss from Operating Partnerships of $(179,199) and $(164,940), respectively, which includes depreciation and amortization of $1,025,862 and $1,079,209, 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, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 27 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 45 reflects a net loss from Operating Partnerships of $(595,305) and $(617,554), respectively, which includes depreciation and amortization of $1,476,660 and $1,506,167 respectively. This is an interim period estimate; it is not indicative of the final year-end results.
In December 2016, the investment general partner transferred their respective interests in Baldwin Villas Limited Partnership 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.
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 reimbursement for the claim, and loss of rents in the amount of $2,108. The property operated above breakeven with occupancy of 94% as of December 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 2016 due to high operating expenses. An increase in legal costs and a drop in occupancy at the beginning of 2017 caused below breakeven operations to continue through the third quarter. Occupancy improved to 98% in December 2017 and averaged 96% for the year. Increased revenues combined with a decrease in operating expenses in the fourth quarter allowed the property to operate slightly above breakeven. The investment general partner will continue to work with the operating general partner and the management company to maintain improved 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, the investment general partner will cease reporting for Borger Fountainhead, Limited Partnership subsequent to December 31, 2017.
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, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 14 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 46 reflects a net loss from Operating Partnerships of $(282,209) and $(443,001), respectively, which includes depreciation and amortization of $857,671 and $976,513, 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 below breakeven in 2016 largely due to high operating expenses. The property continued to operate below breakeven through the fourth quarter of 2017. High operating expenses are the main cause of the below breakeven operations. The investment general partner continues to work with the operating general partner and the management company to reduce expenses. The operating general partners operating deficit guarantee has expired. The 15-year low income housing tax credit compliance period expires on 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 2016 due to high operating expenses. An increase in legal costs and a drop in occupancy at the beginning of 2017 caused below breakeven operations to continue through the third quarter. Occupancy improved to 98% in December 2017 and averaged 96% for the year. Increased revenues combined with a decrease in operating expenses in the fourth quarter allowed the property to operate slightly above breakeven. The investment general partner will continue to work with the operating general partner and the management company to maintain improved 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 above breakeven in 2016 but operated below breakeven through the fourth quarter of 2017, mainly due to low occupancy. The investment limited partner will continue to work with the operating general partner on improving occupancy and will monitor operations. 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, 2017 and 2016. 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)(“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'sVIE’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'sFund’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'sFund’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'sFund’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 3Quantitative and Qualitative Disclosures About Market Risk
Not Applicable
Item 4Controls 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 Corporate Investment Holdings, 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
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There were no changes in the Fund’s or any series’ internal controls over financial reporting that occurred during the quarter ended December 31, 2021 that materially affected, or are reasonably likely to materially affect, the Fund’s or any series’ internal controls over financial reporting.
(c) Certifications
The Certifications of the Principal Executive Officer and Principal Financial Officer of the Fund required by Section 302 and Section 906 of the Sarbanes-Oxley Act of 2002, which are filed or furnished as Exhibits 31.a, 31.b, 32.a and 32.b to this Quarterly Report on Form 10-Q, are applicable to each series individually and the Fund as a whole.
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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, 2021.
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
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| 101. The following materials from the | ||
| | 104. Cover Page Interactive Data File (formatted in iXBRL and included in Exhibit 101). |
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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.
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By: |
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| its General Partner | |||
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By: |
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| | | its General Partner | ||
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Date: February | | | By: | /s/ | |
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| | | | Gregory Voyentzie | |
| | | | President (Principal Executive Officer) |
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:
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DATE: | SIGNATURE: | TITLE: | |
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February | /s/ |
| President (Principal Executive Officer), |
| | Corporate Investment Holdings, Inc. | |
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February | /s/
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| Treasurer (Principal Accounting and Financial Officer) |
Marie Reynolds | | Corporate Investment Holdings, Inc. |
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