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 endedJune 30,December 31, 2018
or
( )   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______ to _______

Commission file number        0-26200

 

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

Delaware

04-3208648

(State or other jurisdiction

(I.R.S. Employer

of incorporation or organization)

Identification No.)

 

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

                   (617) 624-8900                   

(Registrant's telephone number, including area code)

 

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

 

Yesý

No 

 

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

Yesý

No 

 

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

 

Large accelerated filer □

Accelerated Filer □

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

Smaller Reporting Companyý

Emerging Growth Company □

 

 

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

 

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

Yes 

Noý

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BOSTON CAPITAL TAX CREDIT FUND IV L.P.

 

QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTER ENDED JUNE 30,DECEMBER 31, 2018

 

TABLE OF CONTENTS

 

PART I FINANCIAL INFORMATION

 
  

        Pages

 

Item 1. Condensed Financial Statements

   
  

Condensed Balance Sheets

4-31

  

Condensed Statements of Operations

32-5932-87

  

Condensed Statements of Changes in 

Partners' Capital (Deficit)


60-6988-97

  

Condensed Statements of Cash Flows

70-9798-125

  

Notes to Condensed Financial Statements

98-133126-161

   

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


134-172162-208

   
 

Item 3. Quantitative and Qualitative Disclosures About         Market Risk


173209

   
 

Item 4. Controls and Procedures

173209

   

PART II OTHER INFORMATION

 
   

Item 1. Legal Proceedings

174210

   
 

Item 1A. Risk Factors

174210

   
 

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


174210

   
 

Item 3. Defaults Upon Senior Securities

174210

   
 

Item 4. Mine Safety Disclosures

174210

   
 

Item 5. Other Information

174210

   
 

Item 6. Exhibits

174210

 

Signatures

175211

   

 

 

 

Boston Capital Tax Credit Fund IV L.P.

 

CONDENSED BALANCE SHEETS

(Unaudited)


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

25,426,773

27,208,717

23,668,446

27,208,717

Other assets

40,088

40,088

40,088

40,088

$

25,466,861

$

27,248,805

$

23,708,534

$

27,248,805

LIABILITIES

Accounts payable and accrued expenses

$

712,173

$

654,673

$

1,642,092

$

654,673

Accounts payable affiliates (Note C)

27,093,397

29,495,273

19,723,088

29,495,273

Capital contributions payable

176,646

176,746

44,094

176,746

27,982,216

30,326,692

21,409,274

30,326,692

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
83,651,080 issued and 83,175,478
outstanding as of June 30, 2018
and March 31, 2018.






3,487,941







2,931,035

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






2,894,455







2,931,035

General Partner

(6,003,296)

(6,008,922)

(595,195)

(6,008,922)

(2,515,355)

(3,077,887)

2,299,260

(3,077,887)

$

25,466,861

$

27,248,805

$

23,708,534

$

27,248,805

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 20


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

246,325

241,987

-

241,987

Other assets

-

-

-

-

$

246,325

$

241,987

$

-

$

241,987

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

1,309,494

1,444,723

-

1,444,723

Capital contributions payable

-

-

-

-

1,309,494

1,444,723

-

1,444,723

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,866,700 issued and 3,829,200
outstanding as of June 30, 2018
and March 31, 2018.






(744,285)






(882,456)

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






(754,767)






(882,456)

General Partner

(318,884)

(320,280)

754,767

(320,280)

(1,063,169)

(1,202,736)

-

(1,202,736)

$

246,325

$

241,987

$

-

$

241,987

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

 

Series 21

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

-

-

-

-

Other assets

-

-

-

-

$

-

$

-

$

-

$

-

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

-

-

-

-

-

-

-

-

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
1,892,700 issued and 1,879,500
outstanding as of June 30, 2018
and March 31, 2018.






(898,231)







(898,231)

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






(898,231)







(898,231)

General Partner

898,231

898,231

898,231

898,231

-

-

-

-

$

-

$

-

$

-

$

-

 

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

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

210,051

221,864

-

221,864

Other assets

-

-

-

-

$

210,051

$

221,864

$

-

$

221,864

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

2,884,535

2,878,109

-

2,878,109

Capital contributions payable

-

-

-

-

2,884,535

2,878,109

-

2,878,109

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,564,400 issued and 2,550,645
outstanding as of June 30, 2018
and March 31, 2018.






(2,428,656)






(2,410,599)

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






(2,448,362)






(2,410,599)

General Partner

(245,828)

(245,646)

2,448,362

(245,646)

(2,674,484)

(2,656,245)

-

(2,656,245)

$

210,051

$

221,864

$

-

$

221,864

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 23

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

237,867

446,136

-

446,136

Other assets

-

-

-

-

$

237,867

$

446,136

$

-

$

446,136

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

738,943

933,387

-

933,387

Capital contributions payable

-

-

-

-

738,943

933,387

-

933,387

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,336,727 issued and 3,303,327
outstanding as of June 30, 2018
and March 31, 2018.






(211,219)






(197,532)

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






(224,264)






(197,532)

General Partner

(289,857)

(289,719)

224,264

(289,719)

(501,076)

(487,251)

-

(487,251)

$

237,867

$

446,136

$

-

$

446,136


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 24


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

423,184

453,512

417,630

453,512

Other assets

-

-

-

-

$

423,184

$

453,512

$

417,630

$

453,512

LIABILITIES

Accounts payable and accrued expenses

$

-

$

5,000

$

3,000

$

5,000

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

-

-

-

-

-

5,000

3,000

5,000

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,169,878 issued and 2,152,753
outstanding as of June 30, 2018
and March 31, 2018.






598,204






623,279

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






589,736






623,279

General Partner

(175,020)

(174,767)

(175,106)

(174,767)

423,184

448,512

414,630

448,512

$

423,184

$

453,512

$

417,630

$

453,512

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 25

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

-

-

-

-

Other assets

-

-

-

-

$

-

$

-

$

-

$

-

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

-

-

-

-

-

-

-

-

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,026,109 issued and 3,016,809
outstanding as of June 30, 2018
and March 31, 2018.






219,815






219,815

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






219,815






219,815

General Partner

(219,815)

(219,815)

(219,815)

(219,815)

-

-

-

-

$

-

$

-

$

-

$

-

 

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

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

620,521

642,258

572,306

642,258

Other assets

-

-

-

-

$

620,521

$

642,258

$

572,306

$

642,258

LIABILITIES

Accounts payable and accrued expenses

$

3,500

$

-

$

-

$

-

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

-

-

-

-

3,500

-

-

-

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,995,900 issued and 3,965,400
outstanding as of June 30, 2018
and March 31, 2018.






929,193






954,178

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






884,926






954,178

General Partner

(312,172)

(311,920)

(312,620)

(311,920)

617,021

642,258

572,306

642,258

$

620,521

$

642,258

$

572,306

$

642,258

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 27

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

6,789,575

6,799,933

6,492,781

6,799,933

Other assets

-

-

-

-

$

6,789,575

$

6,799,933

$

6,492,781

$

6,799,933

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

-

-

-

-

-

-

-

-

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,460,700 issued and 2,443,900
outstanding as of June 30, 2018
and March 31, 2018.






6,928,127






6,938,381

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






6,634,301






6,938,381

General Partner

(138,552)

(138,448)

(141,520)

(138,448)

6,789,575

6,799,933

6,492,781

6,799,933

$

6,789,575

$

6,799,933

$

6,492,781

$

6,799,933

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 28

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

734,504

742,564

701,439

742,564

Other assets

-

-

-

-

$

734,504

$

742,564

$

701,439

$

742,564

LIABILITIES

Accounts payable and accrued expenses

$

3,500

$

-

$

-

$

-

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

-

-

-

-

3,500

-

-

-

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
4,000,738 issued and 3,984,138
outstanding as of June 30, 2018
and March 31, 2018.






1,005,531






1,016,975

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






976,261






1,016,975

General Partner

(274,527)

(274,411)

(274,822)

(274,411)

731,004

742,564

701,439

742,564

$

734,504

$

742,564

$

701,439

$

742,564

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 29

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

443,270

622,414

196,692

622,414

Other assets

-

-

-

-

$

443,270

$

622,414

$

196,692

$

622,414

LIABILITIES

Accounts payable and accrued expenses

$

10,500

$

-

$

-

$

-

Accounts payable affiliates (Note C)

3,278,047

3,559,561

3,069,575

3,559,561

Capital contributions payable

785

885

785

885

3,289,332

3,560,446

3,070,360

3,560,446

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,991,800 issued and 3,955,225
outstanding as of June 30, 2018
and March 31, 2018.






(2,478,954)






(2,570,004)

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






(2,506,284)






(2,570,004)

General Partner

(367,108)

(368,028)

(367,384)

(368,028)

(2,846,062)

(2,938,032)

(2,873,668)

(2,938,032)

$

443,270

$

622,414

$

196,692

$

622,414

 

The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 30

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

317,818

453,433

-

453,433

Other assets

-

-

-

-

$

317,818

$

453,433

$

-

$

453,433

LIABILITIES

Accounts payable and accrued expenses

$

14,000

$

3,500

$

-

$

3,500

Accounts payable affiliates (Note C)

1,470,765

1,620,957

-

1,620,957

Capital contributions payable

65,176

65,176

-

65,176

1,549,941

1,689,633

-

1,689,633

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,651,000 issued and 2,621,200
outstanding as of June 30, 2018
and March 31, 2018.






(992,746)






(996,782)

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






(883,119)






(996,782)

General Partner

(239,377)

(239,418)

883,119

(239,418)

(1,232,123)

(1,236,200)

-

(1,236,200)

$

317,818

$

453,433

$

-

$

453,433


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 31

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

1,950,407

1,971,680

1,958,503

1,971,680

Other assets

25,000

25,000

25,000

25,000

$

1,975,407

$

1,996,680

$

1,983,503

$

1,996,680

LIABILITIES

Accounts payable and accrued expenses

$

3,500

$

-

$

-

$

-

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

66,294

66,294

25,000

66,294

69,794

66,294

25,000

66,294

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
4,417,857 issued and 4,382,757
outstanding as of June 30, 2018
and March 31, 2018.






2,265,816






2,290,341

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






2,318,177






2,290,341

General Partner

(360,203)

(359,955)

(359,674)

(359,955)

1,905,613

1,930,386

1,958,503

1,930,386

$

1,975,407

$

1,996,680

$

1,983,503

$

1,996,680

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 32

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

352,267

563,697

225,947

563,697

Other assets

-

-

-

-

$

352,267

$

563,697

$

225,947

$

563,697

LIABILITIES

Accounts payable and accrued expenses

$

5,000

$

-

$

-

$

-

Accounts payable affiliates (Note C)

259,143

924,936

198,731

924,936

Capital contributions payable

1,229

1,229

1,229

1,229

265,372

926,165

199,960

926,165

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
4,754,198 issued and 4,736,198
outstanding as of June 30, 2018
and March 31, 2018.






492,389






47,520

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






432,090






47,520

General Partner

(405,494)

(409,988)

(406,103)

(409,988)

86,895

(362,468)

25,987

(362,468)

$

352,267

$

563,697

$

225,947

$

563,697

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 33

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

330,989

452,033

229,636

452,033

Other assets

-

-

-

-

$

330,989

$

452,033

$

229,636

$

452,033

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

1,159,333

1,252,955

1,085,969

1,252,955

Capital contributions payable

-

-

-

-

1,159,333

1,252,955

1,085,969

1,252,955

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,636,533 issued and 2,626,533
outstanding as of June 30, 2018
and March 31, 2018.






(594,281)






(567,133)

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






(621,990)






(567,133)

General Partner

(234,063)

(233,789)

(234,343)

(233,789)

(828,344)

(800,922)

(856,333)

(800,922)

$

330,989

$

452,033

$

229,636

$

452,033

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 34

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

281,844

394,837

223,081

394,837

Other assets

-

-

-

-

$

281,844

$

394,837

$

223,081

$

394,837

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

2,752,734

2,840,368

2,727,465

2,840,368

Capital contributions payable

-

-

-

-

2,752,734

2,840,368

2,727,465

2,840,368

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,529,319 issued and 3,509,919
outstanding as of June 30, 2018
and March 31, 2018.






(2,145,791)






(2,120,686)

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






(2,178,950)






(2,120,686)

General Partner

(325,099)

(324,845)

(325,434)

(324,845)

(2,470,890)

(2,445,531)

(2,504,384)

(2,445,531)

$

281,844

$

394,837

$

223,081

$

394,837

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 35

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

4,411,736

4,428,306

4,400,908

4,428,306

Other assets

-

-

-

-

$

4,411,736

$

4,428,306

$

4,400,908

$

4,428,306

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

-

-

-

-

-

-

-

-

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,300,463 issued and 3,279,913
outstanding as of June 30, 2018
and March 31, 2018.






4,649,644






4,666,048

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






4,638,924






4,666,048

General Partner

(237,908)

(237,742)

(238,016)

(237,742)

4,411,736

4,428,306

4,400,908

4,428,306

$

4,411,736

$

4,428,306

$

4,400,908

$

4,428,306

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 36

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

2,062,524

2,106,050

2,856,924

2,106,050

Other assets

-

-

-

-

$

2,062,524

$

2,106,050

$

2,856,924

$

2,106,050

LIABILITIES

Accounts payable and accrued expenses

$

131,000

$

131,000

$

701,319

$

131,000

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

-

-

-

-

131,000

131,000

701,319

131,000

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,106,838 issued and 2,092,704
outstanding as of June 30, 2018
and March 31, 2018.






2,090,872






2,133,963

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






2,312,712






2,133,963

General Partner

(159,348)

(158,913)

(157,107)

(158,913)

1,931,524

1,975,050

2,155,605

1,975,050

$

2,062,524

$

2,106,050

$

2,856,924

$

2,106,050

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 37

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

335,629

517,887

-

517,887

Other assets

-

-

-

-

$

335,629

$

517,887

$

-

$

517,887

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

323,333

513,149

-

513,149

Capital contributions payable

-

-

-

-

323,333

513,149

-

513,149

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,512,500 issued and 2,489,100
outstanding as of June 30, 2018
and March 31, 2018.






227,737






220,255

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






205,359






220,255

General Partner

(215,441)

(215,517)

(205,359)

(215,517)

12,296

4,738

-

4,738

$

335,629

$

517,887

$

-

$

517,887

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 38

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

1,484,524

1,492,145

1,486,571

1,492,145

Other assets

-

-

-

-

$

1,484,524

$

1,492,145

$

1,486,571

$

1,492,145

LIABILITIES

Accounts payable and accrued expenses

$

3,500

$

-

$

-

$

-

Accounts payable affiliates (Note C)

-

18,234

-

18,234

Capital contributions payable

-

-

-

-

3,500

18,234

-

18,234

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,543,100 issued and 2,538,700
outstanding as of June 30, 2018
and March 31, 2018.






1,684,498






1,677,456

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






1,689,989






1,677,456

General Partner

(203,474)

(203,545)

(203,418)

(203,545)

1,481,024

1,473,911

1,486,571

1,473,911

$

1,484,524

$

1,492,145

$

1,486,571

$

1,492,145

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 39

 

 

 


June 30,
2018


March 31,
2018

 

 


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

-

-

-

-

Other assets

-

-

-

-

$

-

$

-

$

-

$

-

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

-

-

-

-

-

-

-

-

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,292,151 issued and 2,288,351
outstanding as of June 30, 2018
and March 31, 2018.






196,043






196,043

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






196,043






196,043

General Partner

(196,043)

(196,043)

(196,043)

(196,043)

-

-

-

-

$

-

$

-

$

-

$

-

 

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

 

 

 


June 30,
2018


March 31,
2018

 

 


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

266,196

431,341

229,311

431,341

Other assets

-

-

-

-

$

266,196

$

431,341

$

229,311

$

431,341

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

2,289,663

2,413,069

2,264,647

2,413,069

Capital contributions payable

102

102

102

102

2,289,765

2,413,171

2,264,749

2,413,171

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,630,256 issued and 2,621,756
outstanding as of June 30, 2018
and March 31, 2018.






(1,778,390)






(1,737,068)

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






(1,790,140)






(1,737,068)

General Partner

(245,179)

(244,762)

(245,298)

(244,762)

(2,023,569)

(1,981,830)

(2,035,438)

(1,981,830)

$

266,196

$

431,341

$

229,311

$

431,341

 

The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 41

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

402,614

741,152

249,679

741,152

Other assets

-

-

-

-

$

402,614

$

741,152

$

249,679

$

741,152

LIABILITIES

Accounts payable and accrued expenses

$

9,000

$

-

$

-

$

-

Accounts payable affiliates (Note C)

2,538,438

2,893,606

2,479,532

2,893,606

Capital contributions payable

-

-

-

-

2,547,438

2,893,606

2,479,532

2,893,606

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,891,626 issued and 2,874,926
outstanding as of June 30, 2018
and March 31, 2018.






(1,874,207)






(1,881,761)

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






(1,958,386)






(1,881,761)

General Partner

(270,617)

(270,693)

(271,467)

(270,693)

(2,144,824)

(2,152,454)

(2,229,853)

(2,152,454)

$

402,614

$

741,152

$

249,679

$

741,152

 

The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 42

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

1,295,554

1,327,017

1,319,625

1,327,017

Other assets

11,300

11,300

11,300

11,300

$

1,306,854

$

1,338,317

$

1,330,925

$

1,338,317

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

1,500

$

-

Accounts payable affiliates (Note C)

-

-

-

-

Capital contributions payable

254

254

254

254

254

254

1,754

254

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,744,262 issued and 2,732,262
outstanding as of June 30, 2018
and March 31, 2018.






1,534,472






1,565,620

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






1,556,817






1,565,620

General Partner

(227,872)

(227,557)

(227,646)

(227,557)

1,306,600

1,338,063

1,329,171

1,338,063

$

1,306,854

$

1,338,317

$

1,330,925

$

1,338,317

 

The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

 

Series 43

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

572,013

854,364

769,315

854,364

Other assets

-

-

-

-

$

572,013

$

854,364

$

769,315

$

854,364

LIABILITIES

Accounts payable and accrued expenses

$

6,000

$

-

$

363,500

$

-

Accounts payable affiliates (Note C)

619,920

915,591

485,101

915,591

Capital contributions payable

26,082

26,082

-

26,082

652,002

941,673

848,601

941,673

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
3,637,987 issued and 3,629,487
outstanding as of June 30, 2018
and March 31, 2018.






242,332






235,085

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






243,028






235,085

General Partner

(322,321)

(322,394)

(322,314)

(322,394)

(79,989)

(87,309)

(79,286)

(87,309)

$

572,013

$

854,364

$

769,315

$

854,364

 

The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

 

Series 44

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

84,245

84,006

109,921

84,006

Other assets

-

-

-

-

$

84,245

$

84,006

$

109,921

$

84,006

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

2,890,225

2,830,127

3,016,016

2,830,127

Capital contributions payable

-

-

-

-

2,890,225

2,830,127

3,016,016

2,830,127

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,701,973 issued and 2,693,973
outstanding as of June 30, 2018
and March 31, 2018.






(2,540,472)






(2,481,212)

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






(2,639,586)






(2,481,212)

General Partner

(265,508)

(264,909)

(266,509)

(264,909)

(2,805,980)

(2,746,121)

(2,906,095)

(2,746,121)

$

84,245

$

84,006

$

109,921

$

84,006

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

 

Series 45

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

1,109,867

753,702

928,655

753,702

Other assets

-

-

-

-

$

1,109,867

$

753,702

$

928,655

$

753,702

LIABILITIES

Accounts payable and accrued expenses

$

522,673

$

515,173

$

572,773

$

515,173

Accounts payable affiliates (Note C)

2,654,535

2,584,511

2,547,165

2,584,511

Capital contributions payable

16,724

16,724

16,724

16,724

3,193,932

3,116,408

3,136,662

3,116,408

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
4,014,367 issued and 4,008,167
outstanding as of June 30, 2018
and March 31, 2018.






(1,709,562)






(1,985,417)

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






(1,832,265)






(1,985,417)

General Partner

(374,503)

(377,289)

(375,742)

(377,289)

(2,084,065)

(2,362,706)

(2,208,007)

(2,362,706)

$

1,109,867

$

753,702

$

928,655

$

753,702


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

 

Series 46

 


June 30,
2018


March 31,
2018


December 31,
2018


March 31,
2018

INVESTMENTS IN OPERATING PARTNERSHIPS

$

-

$

-

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

463,249

466,399

299,522

466,399

Other assets

3,788

3,788

3,788

3,788

$

467,037

$

470,187

$

303,310

$

470,187

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

$

-

$

-

Accounts payable affiliates (Note C)

1,924,289

1,871,990

1,848,887

1,871,990

Capital contributions payable

-

-

-

-

1,924,289

1,871,990

1,848,887

1,871,990

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership
interest, $10 stated value per BAC;
101,500,000 authorized BACs;
2,980,998 issued and 2,968,635
outstanding as of June 30, 2018
and March 31, 2018.






(1,179,938)






(1,125,043)

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






(1,267,379)






(1,125,043)

General Partner

(277,314)

(276,760)

(278,198)

(276,760)

(1,457,252)

(1,401,803)

(1,545,577)

(1,401,803)

$

467,037

$

470,187

$

303,310

$

470,187

 

The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

 

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

50,858

$

13,934

$

60,657

$

44,147

Other income

 

186,487

 

87,713

 

35,136

 

61,482

237,345

101,647

95,793

105,629

        
        

Share of income from
Operating Partnerships (Note D)

 


1,189,317

 


4,529,631

Gain on Disposition of
Operating Partnerships

 


467,156

 


1,055,522

        

Expenses

        

Professional fees

 

368,127

 

129,367

 

70,561

 

26,251

Fund management fee, net (Note C)

 

411,725

 

520,374

 

376,113

 

456,851

General and administrative expenses

 

84,278

 

107,022

 

303,064

 

259,174

 

864,130

 

756,763

 

749,738

 

742,276

        

NET INCOME (LOSS)

$

562,532

$

3,874,515

$

(186,789)

$

418,875

        

Net income (loss) allocated to
assignees


$


556,906


$


3,835,770


$


(184,923)


$


414,684

        

Net income (loss) allocated to general
partner


$


5,626


$


38,745


$


(1,866)


$


4,191

        

Net income (loss) per BAC

$

.01

$

.05

$

(.00)

$

.00



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 20

 

 

 

2018

 

2017

 

2018

 

2017

Income

Interest income

$

587

$

35

$

361

$

284

Other income

 

-

 

-

 

-

 

-

 

587

 

35

 

361

 

284

        
        

Share of income from
Operating Partnerships (Note D)

 


155,337

 


-

Gain on Disposition of
Operating Partnerships

 


42,000

 


42,000

        

Expenses

        

Professional fees

 

10,105

 

2,980

 

2,831

 

657

Fund management fee, net (Note C)

 

2,271

 

3,718

 

2,549

 

5,336

General and administrative expenses

 

3,981

 

4,238

 

36,709

 

6,930

 

16,357

 

10,936

 

42,089

 

12,923

        

NET INCOME (LOSS)

$

139,567

$

(10,901)

$

272

$

29,361

        

Net income (loss) allocated to
assignees


$


138,171


$


(10,792)


$


269


$


29,067

        

Net income (loss) allocated to general
partner


$


1,396


$


(109)


$


3


$


294

        

Net income (loss) per BAC

$

.04

$

(.00)

$

.00

$

.01



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 21

 

 

 

2018

2017

2018

2017

Income

        

Interest income

$

-

$

29

$

-

$

81

Other income

 

-

 

-

 

-

 

-

 

-

 

29

 

-

 

81

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


67,000

        

Expenses

        

Professional fees

 

-

 

2,630

 

-

 

1,314

Fund management fee, net (Note C)

 

-

 

2,256

 

-

 

2,216

General and administrative expenses

 

-

 

3,506

 

-

 

32,726

 

-

 

8,392

 

-

 

36,256

        

NET INCOME (LOSS)

$

-

$

(8,363)

$

-

$

30,825

        

Net income (loss) allocated to
assignees


$


-


$


(8,279)


$


-


$


30,517

        

Net income (loss) allocated to general
partner


$


-


$


(84)


$


-


$


308

        

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 OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 22

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

532

$

84

$

455

$

196

Other income

 

-

 

-

 

-

 

-

 

532

 

84

 

455

 

196

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


38,000

 


-

        

Expenses

        

Professional fees

 

9,480

 

2,980

 

2,406

 

657

Fund management fee, net (Note C)

 

5,926

 

6,803

 

6,426

 

7,303

General and administrative expenses

 

3,365

 

3,832

 

35,675

 

5,479

 

18,771

 

13,615

 

44,507

 

13,439

        

NET INCOME (LOSS)

$

(18,239)

$

(13,531)

$

(6,052)

$

(13,243)

        

Net income (loss) allocated to
assignees


$


(18,057)


$


(13,396)


$


(5,991)


$


(13,111)

        

Net income (loss) allocated to general
partner


$


(182)


$


(135)


$


(61)


$


(132)

        

Net income (loss) per BAC

$

(.01)

$

(.01)

$

(.00)

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 23

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

923

$

866

$

489

$

1,140

Other income

 

1,977

 

1,977

 

-

 

1,977

 

2,900

 

2,843

 

489

 

3,117

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


959,665

Gain on Disposition of
Operating Partnerships

 


43,500

 


30,296

        

Expenses

        

Professional fees

 

10,915

 

3,755

 

2,731

 

657

Fund management fee, net (Note C)

 

1,950

 

3,806

 

5,556

 

5,556

General and administrative expenses

 

3,860

 

4,137

 

37,264

 

6,533

 

16,725

 

11,698

 

45,551

 

12,746

        

NET INCOME (LOSS)

$

(13,825)

$

950,810

$

(1,562)

$

20,667

        

Net income (loss) allocated to
assignees


$


(13,687)


$


941,302


$


(1,546)


$


20,460

        

Net income (loss) allocated to general
partner


$


(138)


$


9,508


$


(16)


$


207

        

Net income (loss) per BAC

$

(.00)

$

.28

$

(.00)

$

.01



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

 

Series 24

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

Interest income

$

593

$

82

$

705

$

211

Other income

 

-

 

-

 

-

 

344

 

593

 

82

 

705

 

555

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


23,678

 


-

        

Expenses

        

Professional fees

 

11,995

 

3,325

 

1,513

 

657

Fund management fee, net (Note C)

 

10,761

 

11,421

 

9,927

 

12,098

General and administrative expenses

 

3,165

 

3,784

 

5,150

 

5,131

 

25,921

 

18,530

 

16,590

 

17,886

        

NET INCOME (LOSS)

$

(25,328)

$

(18,448)

$

7,793

$

(17,331)

        

Net income (loss) allocated to
assignees


$


(25,075)


$


(18,264)


$


7,715


$


(17,158)

        

Net income (loss) allocated to general
partner


$


(253)


$


(184)


$


78


$


(173)

        

Net income (loss) per BAC

$

(.01)

$

(.01)

$

.00

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 25

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

Interest income

$

-

$

71

$

-

$

-

Other income

 

-

 

-

 

-

 

-

 

-

 

71

 

-

 

-

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

-

 

2,980

 

-

 

1,314

Fund management fee, net (Note C)

 

-

 

5,934

 

-

 

-

General and administrative expenses

 

-

 

4,043

 

-

 

40,074

 

-

 

12,957

 

-

 

41,388

        

NET INCOME (LOSS)

$

-

$

(12,886)

$

-

$

(41,388)

        

Net income (loss) allocated to
assignees


$


-


$


(12,757)


$


-


$


(40,974)

        

Net income (loss) allocated to general
partner


$


-


$


(129)


$


-


$


(414)

        

Net income (loss) per BAC

$

-

$

(.00)

$

-

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 26

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

924

$

136

$

1,168

$

530

Other income

 

420

 

420

 

-

 

-

 

1,344

 

556

 

1,168

 

530

        
        

Share of income from
Operating Partnerships (Note D)

 


10,500

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

18,280

 

4,725

 

2,166

 

657

Fund management fee, net (Note C)

 

14,609

 

21,545

 

13,938

 

15,609

General and administrative expenses

 

4,192

 

4,513

 

7,464

 

7,656

 

37,081

 

30,783

 

23,568

 

23,922

        

NET INCOME (LOSS)

$

(25,237)

$

(30,227)

$

(22,400)

$

(23,392)

        

Net income (loss) allocated to
assignees


$


(24,985)


$


(29,925)


$


(22,176)


$


(23,158)

        

Net income (loss) allocated to general
partner


$


(252)


$


(302)


$


(224)


$


(234)

        

Net income (loss) per BAC

$

(.01)

$

(.01)

$

(.01)

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 27

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

12,472

$

4,338

$

17,986

$

8,050

Other income

 

-

 

-

 

-

 

7,370

 

12,472

 

4,338

 

17,986

 

15,420

        
    

Share of income from
Operating Partnerships (Note D)

 


-

 


3,291,567

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

11,990

 

17,770

 

2,081

 

2,577

Fund management fee, net (Note C)

 

7,635

 

14,968

 

(2,365)

 

155

General and administrative expenses

 

3,205

 

3,832

 

5,062

 

4,895

 

22,830

 

36,570

 

4,778

 

7,627

        

NET INCOME (LOSS)

$

(10,358)

$

3,259,335

$

13,208

$

7,793

        

Net income (loss) allocated to
assignees


$


(10,254)


$


3,226,742


$


13,076


$


7,715

        

Net income (loss) allocated to general
partner


$


(104)


$


32,593


$


132


$


78

        

Net income (loss) per BAC

$

(.00)

$

1.32

$

.01

$

.00



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 28

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

930

$

148

$

1,235

$

577

Other income

 

446

 

446

 

-

 

-

 

1,376

 

594

 

1,235

 

577

        
        

Share of income from
Operating Partnerships (Note D)

 


8,500

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

10,740

 

4,025

 

2,003

 

657

Fund management fee, net (Note C)

 

6,844

 

6,844

 

7,296

 

8,844

General and administrative expenses

 

3,852

 

4,283

 

6,537

 

6,717

 

21,436

 

15,152

 

15,836

 

16,218

        

NET INCOME (LOSS)

$

(11,560)

$

(14,558)

$

(14,601)

$

(15,641)

        

Net income (loss) allocated to
assignees


$


(11,444)


$


(14,412)


$


(14,455)


$


(15,485)

        

Net income (loss) allocated to general
partner


$


(116)


$


(146)


$


(146)


$


(156)

        

Net income (loss) per BAC

$

(.00)

$

(.00)

$

(.00)

$

(.00)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 29

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

1,245

$

92

$

1,106

$

313

Other income

 

-

 

-

 

-

 

-

 

1,245

 

92

 

1,106

 

313

        
        

Share of income from
Operating Partnerships (Note D)

 


123,094

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

13,255

 

3,675

 

2,123

 

657

Fund management fee, net (Note C)

 

15,093

 

20,546

 

4,261

 

20,547

General and administrative expenses

 

4,021

 

4,351

 

6,940

 

7,413

 

32,369

 

28,572

 

13,324

 

28,617

        

NET INCOME (LOSS)

$

91,970

$

(28,480)

$

(12,218)

$

(28,304)

        

Net income (loss) allocated to
assignees


$


91,050


$


(28,195)


$


(12,096)


$


(28,021)

        

Net income (loss) allocated to general
partner


$


920


$


(285)


$


(122)


$


(283)

        

Net income (loss) per BAC

$

.02

$

(.01)

$

(.00)

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 30

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

799

$

57

$

681

$

574

Other income

 

2,049

 

1,243

 

-

 

-

 

2,848

 

1,300

 

681

 

574

        
        

Share of income from
Operating Partnerships (Note D)

 


24,006

 


263,893

Gain on Disposition of
Operating Partnerships

 


153,627

 


-

        

Expenses

        

Professional fees

 

14,505

 

3,675

 

2,221

 

657

Fund management fee, net (Note C)

 

5,112

 

(31,900)

 

5,668

 

10,209

General and administrative expenses

 

3,160

 

3,764

 

38,433

 

5,314

 

22,777

 

(24,461)

 

46,322

 

16,180

        

NET INCOME (LOSS)

$

4,077

$

289,654

$

107,986

$

(15,606)

        

Net income (loss) allocated to
assignees


$


4,036


$


286,757


$


106,906


$


(15,450)

        

Net income (loss) allocated to general
partner


$


41


$


2,897


$


1,080


$


(156)

        

Net income (loss) per BAC

$

.00

$

.11

$

.04

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 31

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

3,970

$

1,017

$

5,442

$

2,325

Other income

 

476

 

476

 

-

 

-

 

4,446

 

1,493

 

5,442

 

2,325

        
        

Share of income from
Operating Partnerships (Note D)

 


7,500

 


-

Gain on Disposition of
Operating Partnerships

 


36,342

 


-

        

Expenses

        

Professional fees

 

15,140

 

5,425

 

6,927

 

657

Fund management fee, net (Note C)

 

17,592

 

20,199

 

16,065

 

19,092

General and administrative expenses

 

3,987

 

4,285

 

6,779

 

7,199

 

36,719

 

29,909

 

29,771

 

26,948

        

NET INCOME (LOSS)

$

(24,773)

$

(28,416)

$

12,013

$

(24,623)

        

Net income (loss) allocated to
assignees


$


(24,525)


$


(28,132)


$


11,893


$


(24,377)

        

Net income (loss) allocated to general
partner


$


(248)


$


(284)


$


120


$


(246)

        

Net income (loss) per BAC

$

(.01)

$

(.01)

$

.00

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 32

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

1,270

$

323

$

86

$

2,148

Other income

 

-

 

-

 

-

 

11,000

 

1,270

 

323

 

86

 

13,148

        
        

Share of income from
Operating Partnerships (Note D)

 


487,880

 


14,506

Gain on Disposition of
Operating Partnerships

 


-

 


128,747

        

Expenses

        

Professional fees

 

13,637

 

4,025

 

7,049

 

657

Fund management fee, net (Note C)

 

22,087

 

19,870

 

18,294

 

17,234

General and administrative expenses

 

4,063

 

4,391

 

7,158

 

11,395

 

39,787

 

28,286

 

32,501

 

29,286

        

NET INCOME (LOSS)

$

449,363

$

(13,457)

$

(32,415)

$

112,609

        

Net income (loss) allocated to
assignees


$


444,869


$


(13,322)


$


(32,091)


$


111,483

        

Net income (loss) allocated to general
partner


$


4,494


$


(135)


$


(324)


$


1,126

        

Net income (loss) per BAC

$

.09

$

(.00)

$

(.01)

$

.02



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,

(Unaudited)

Series 33

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

942

$

91

$

980

$

332

Other income

 

-

 

-

 

-

 

5,329

 

942

 

91

 

980

 

5,661

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


67,454

        

Expenses

        

Professional fees

 

11,990

 

3,150

 

1,484

 

657

Fund management fee, net (Note C)

 

13,318

 

9,898

9,318

(3,186)

General and administrative expenses

 

3,056

 

3,692

 

4,899

 

4,891

 

28,364

 

16,740

 

15,701

 

2,362

        

NET INCOME (LOSS)

$

(27,422)

$

(16,649)

$

(14,721)

$

70,753

        

Net income (loss) allocated to
assignees


$


(27,148)


$


(16,483)


$


(14,574)


$


70,045

        

Net income (loss) allocated to general
partner


$


(274)


$


(166)


$


(147)


$


708

        

Net income (loss) per BAC

$

(.01)

$

(.01)

$

(.01)

$

.03



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 34

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

Interest income

$

593

$

339

$

850

$

645

Other income

 

-

 

-

 

-

 

-

 

593

 

339

 

850

 

645

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

10,110

 

3,675

 

1,783

 

657

Fund management fee, net (Note C)

 

12,366

 

12,366

 

12,365

 

12,365

General and administrative expenses

 

3,476

 

3,993

 

5,924

 

5,903

 

25,952

 

20,034

 

20,072

 

18,925

NET INCOME (LOSS)

$

(25,359)

$

(19,695)

$

(19,222)

$

(18,280)

        

Net income (loss) allocated to
assignees


$


(25,105)


$


(19,498)


$


(19,030)


$


(18,097)

        

Net income (loss) allocated to general
partner


$


(254)


$


(197)


$


(192)


$


(183)

        

Net income (loss) per BAC

$

(.01)

$

(.01)

$

(.01)

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 35

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

7,811

$

1,454

$

9,216

$

5,396

Other income

 

-

 

-

 

-

 

-

7,811

1,454

9,216

5,396

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

Professional fees

 

10,285

 

3,500

 

6,668

 

657

Fund management fee, net (Note C)

 

10,653

 

17,481

 

4,053

 

7,453

General and administrative expenses

 

3,443

 

3,977

 

5,571

 

5,576

 

24,381

 

24,958

 

16,292

 

13,686

        

NET INCOME (LOSS)

$

(16,570)

$

(23,504)

$

(7,076)

$

(8,290)

        

Net income (loss) allocated to
assignees


$


(16,404)


$


(23,269)


$


(7,005)


$


(8,207)

        

Net income (loss) allocated to general
partner


$


(166)


$


(235)


$


(71)


$


(83)

        

Net income (loss) per BAC

$

(.01)

$

(.01)

$

(.00)

$

(.00)



The accompanying notes are an integral part of this condensed statement

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 36

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

4,438

$

1,405

$

6,084

$

2,465

Other income

 

5,119

 

2,674

 

-

 

-

 

9,557

 

4,079

 

6,084

 

2,465

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


9,941

 


-

        

Expenses

        

Professional fees

 

44,542

 

3,675

 

11,756

 

657

Fund management fee, net (Note C)

 

5,716

 

5,716

 

1,775

 

7,626

General and administrative expenses

 

2,825

 

3,570

 

4,335

 

4,272

 

53,083

 

12,961

 

17,866

 

12,555

        

NET INCOME (LOSS)

$

(43,526)

$

(8,882)

$

(1,841)

$

(10,090)

        

Net income (loss) allocated to
assignees


$


(43,091)


$


(8,793)


$


(1,823)


$


(9,989)

        

Net income (loss) allocated to general
partner


$


(435)


$


(89)


$


(18)


$


(101)

        

Net income (loss) per BAC

$

(.02)

$

(.00)

$

(.00)

$

(.00)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 37

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

Interest income

$

810

$

1,161

$

258

$

1,144

Other income

 

21,485

 

11,225

 

-

 

-

 

22,295

 

12,386

 

258

 

1,144

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


41,726

 


140,415

        

Expenses

        

Professional fees

 

9,655

 

3,325

 

2,085

 

657

Fund management fee, net (Note C)

 

2,166

 

4,483

 

-

 

10,957

General and administrative expenses

 

2,916

 

3,631

 

38,356

 

4,318

 

14,737

 

11,439

 

40,441

 

15,932

        

NET INCOME (LOSS)

$

7,558

$

947

$

1,543

$

125,627

        

Net income (loss) allocated to
assignees


$


7,482


$


938


$


1,528


$


124,371

        

Net income (loss) allocated to general
partner


$


76


$


9


$


15


$


1,256

        

Net income (loss) per BAC

$

.00

$

.00

$

.00

$

.05



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 38

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

Interest income

$

2,836

$

735

$

817

$

3,593

Other income

 

26,000

 

386

 

20,202

 

7,020

 

28,836

 

1,121

 

21,019

 

10,613

        
        

Share of income from
Operating Partnerships (Note D)

 


7,000

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

10,470

 

4,025

 

1,459

 

657

Fund management fee, net (Note C)

 

15,234

 

18,234

 

10,581

 

8,034

General and administrative expenses

 

3,019

 

3,692

 

4,820

 

4,808

 

28,723

 

25,951

 

16,860

 

13,499

        

NET INCOME (LOSS)

$

7,113

$

(24,830)

$

4,159

$

(2,886)

        

Net income (loss) allocated to
assignees


$


7,042


$


(24,582)


$


4,117


$


(2,857)

        

Net income (loss) allocated to general
partner


$


71


$


(248)


$


42


$


(29)

        

Net income (loss) per BAC

$

.00

$

(.01)

$

.00

$

(.00)



The accompanying notes are an integral part of this condensed statement

 

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 39

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

-

$

247

$

-

$

175

Other income

 

-

 

386

 

-

 

-

 

-

 

633

 

-

 

175

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


17,779

        

Expenses

        

Professional fees

 

-

 

3,675

 

-

 

1,314

Fund management fee, net (Note C)

 

-

 

1,709

 

-

 

1,712

General and administrative expenses

 

-

 

3,560

 

-

 

34,495

 

-

 

8,944

 

-

 

37,521

        

NET INCOME (LOSS)

$

-

$

(8,311)

$

-

$

(19,567)

        

Net income (loss) allocated to
assignees


$


-


$


(8,228)


$


-


$


(19,371)

        

Net income (loss) allocated to general
partner


$


-


$


(83)


$


-


$


(196)

        

Net income (loss) per BAC

$

-

$

(.00)

$

-

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 40

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

631

$

29

$

977

$

830

Other income

-

1,660

-

2,262

 

631

 

1,689

 

977

 

3,092

        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

14,695

 

4,900

 

1,390

 

657

Fund management fee, net (Note C)

 

24,444

 

29,766

 

23,390

 

15,119

General and administrative expenses

 

3,231

 

3,714

 

5,346

 

5,228

 

42,370

 

38,380

 

30,126

 

21,004

        

NET INCOME (LOSS)

$

(41,739)

$

(36,691)

$

(29,149)

$

(17,912)

        

Net income (loss) allocated to
assignees


$


(41,322)


$


(36,324)


$


(28,858)


$


(17,733)

        

Net income (loss) allocated to general
partner


$


(417)


$


(367)


$


(291)


$


(179)

        

Net income (loss) per BAC

$

(.02)

$

(.01)

$

(.01)

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 41

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

1,202

$

151

$

1,165

$

1,070

Other income

 

41,340

 

11,143

 

-

 

2,765

 

42,542

 

11,294

 

1,165

 

3,835

        
        

Share of income from
Operating Partnerships (Note D)

 


14,000

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


63,058

        

Expenses

        

Professional fees

 

21,605

 

5,599

 

1,620

 

657

Fund management fee, net (Note C)

 

23,784

 

52,990

 

32,161

 

37,849

General and administrative expenses

 

3,523

 

3,944

 

6,207

 

7,821

 

48,912

 

62,533

 

39,988

 

46,327

        

NET INCOME (LOSS)

$

7,630

$

(51,239)

$

(38,823)

$

20,566

        

Net income (loss) allocated to
assignees


$


7,554


$


(50,727)


$


(38,435)


$


20,360

        

Net income (loss) allocated to general
partner


$


76


$


(512)


$


(388)


$


206

        

Net income (loss) per BAC

$

.00

$

(.02)

$

(.01)

$

.01



The accompanying notes are an integral part of this condensed statement

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 42

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

3,114

$

345

$

4,775

$

5,466

Other income

 

6,300

 

-

 

13,734

 

172

 

9,414

 

345

 

18,509

 

5,638

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


11,822

 


262,279

Expenses

        

Professional fees

 

19,540

 

5,018

 

1,499

 

657

Fund management fee, net (Note C)

 

18,147

 

41,835

 

23,431

 

35,049

General and administrative expenses

 

3,190

 

3,775

 

5,829

 

6,073

 

40,877

 

50,628

 

30,759

 

41,779

        

NET INCOME (LOSS)

$

(31,463)

$

(50,283)

$

(428)

$

226,138

        

Net income (loss) allocated to
assignees


$


(31,148)


$


(49,780)


$


(424)


$


223,877

        

Net income (loss) allocated to general
partner


$


(315)


$


(503)


$


(4)


$


2,261

        

Net income (loss) per BAC

$

(.01)

$

(.02)

$

(.00)

$

.08



The accompanying notes are an integral part of this condensed statement

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 43

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

1,935

$

99

$

1,434

$

4,962

Other income

 

49,005

 

34,072

 

-

 

-

 

50,940

 

34,171

 

1,434

 

4,962

        
        

Share of income from
Operating Partnerships (Note D)

 


9,000

 


-

Gain on Disposition of
Operating Partnerships

 


66,520

 


225,500

        

Expenses

        

Professional fees

 

20,810

 

5,843

 

1,758

 

657

Fund management fee, net (Note C)

 

28,083

 

44,950

 

5,532

 

54,247

General and administrative expenses

 

3,727

 

4,113

 

7,336

 

7,497

 

52,620

 

54,906

 

14,626

 

62,401

        

NET INCOME (LOSS)

$

7,320

$

(20,735)

$

53,328

$

168,061

        

Net income (loss) allocated to
assignees


$


7,247


$


(20,528)


$


52,795


$


166,380

        

Net income (loss) allocated to general
partner


$


73


$


(207)


$


533


$


1,681

        

Net income (loss) per BAC

$

.00

$

(.01)

$

.01

$

.05



The accompanying notes are an integral part of this condensed statement

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 44

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

145

$

7

$

196

$

61

Other income

 

-

 

-

 

813

 

6,895

 

145

 

7

 

1,009

 

6,956

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

12,360

 

4,025

 

1,523

 

657

Fund management fee, net (Note C)

 

44,464

 

56,826

 

53,683

 

31,705

General and administrative expenses

 

3,180

 

3,786

 

5,540

 

5,377

 

60,004

 

64,637

 

60,746

 

37,739

        

NET INCOME (LOSS)

$

(59,859)

$

(64,630)

$

(59,737)

$

(30,783)

        

Net income (loss) allocated to
assignees


$


(59,260)


$


(63,984)


$


(59,140)


$


(30,475)

        

Net income (loss) allocated to general
partner


$


(599)


$


(646)


$


(597)


$


(308)

        

Net income (loss) per BAC

$

(.02)

$

(.02)

$

(.02)

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 45

 

 

 

 

2018

 

2017

 

2018

 

2017

Income

        

Interest income

$

1,445

$

366

$

2,877

$

854

Other income

 

22,205

 

21,605

 

387

 

-

 

23,650

 

21,971

 

3,264

 

854

        
        

Share of income from
Operating Partnerships (Note D)

 


342,500

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


-

        

Expenses

        

Professional fees

 

25,613

 

12,087

 

1,878

 

5,278

Fund management fee, net (Note C)

 

57,517

 

65,811

 

62,910

 

68,354

General and administrative expenses

 

4,379

 

4,632

 

9,007

 

8,963

 

87,509

 

82,530

 

73,795

 

82,595

        

NET INCOME (LOSS)

$

278,641

$

(60,559)

$

(70,531)

$

(81,741)

        

Net income (loss) allocated to
assignees


$


275,855


$


(59,953)


$


(69,826)


$


(80,924)

Net income (loss) allocated to general
partner


$


2,786


$


(606)


$


(705)


$


(817)

        

Net income (loss) per BAC

$

.07

$

(.01)

$

(.02)

$

(.02)



The accompanying notes are an integral part of this condensed statement

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended June 30,December 31,
(Unaudited)

Series 46

 

 

 

2018

2017

2018

2017

Income

        

Interest income

$

711

$

227

$

1,314

$

725

Other income

 

9,665

 

-

 

-

 

16,348

 

10,376

 

227

 

1,314

 

17,073

        
        

Share of income from
Operating Partnerships (Note D)

 


-

 


-

Gain on Disposition of
Operating Partnerships

 


-

 


10,994

        

Expenses

        

Professional fees

 

16,410

 

4,900

 

1,607

 

657

Fund management fee, net (Note C)

 

45,953

 

52,299

 

49,299

 

45,368

General and administrative expenses

 

3,462

 

3,984

 

6,723

 

6,490

 

65,825

 

61,183

 

57,629

 

52,515

        

NET INCOME (LOSS)

$

(55,449)

$

(60,956)

$

(56,315)

$

(24,448)

        

Net income (loss) allocated to
assignees


$


(54,895)


$


(60,346)


$


(55,752)


$


(24,204)

        

Net income (loss) allocated to general
partner


$


(554)


$


(610)


$


(563)


$


(244)

        

Net income (loss) per BAC

$

(.02)

$

(.02)

$

(.02)

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

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

  

2018

 

2017

Income

    

Interest income

$

163,651

$

80,976

Other income

 

292,224

 

254,126

455,875

335,102

     
     

Gain on Disposition of
Operating Partnerships

 


3,086,786

 


11,305,952

     

Expenses

    

Professional fees

 

497,467

 

581,933

Fund management fee, net (Note C) 

 

1,192,744

 

1,530,568

General and administrative expenses

 

547,591

 

508,530

  

2,237,802

 

2,621,031

     

NET INCOME (LOSS)

$

1,304,859

$

9,020,023

     

Net income (loss) allocated to 
assignees


$


1,291,810


$


8,929,822

     

Net income (loss) allocated to general
partner


$


13,049


$


90,201

     

Net income (loss) per BAC

$

.02

$

.11



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 20

  

2018

 

2017

Income

Interest income

$

1,340

$

350

Other income

 

-

 

-

  

1,340

 

350

     
     

Gain on Disposition of
Operating Partnerships

 


197,337

 


42,000

     

Expenses

    

Professional fees

 

14,501

 

14,281

Fund management fee, net (Note C) 

 

7,369

 

14,295

General and administrative expenses

 

47,828

 

16,976

  

69,698

 

45,552

     

NET INCOME (LOSS)

$

128,979

$

(3,202)

     

Net income (loss) allocated to 
assignees


$


127,689


$


(3,170)

     

Net income (loss) allocated to general
partner


$


1,290


$


(32)

     

Net income (loss) per BAC

$

.03

$

(.00)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 21

2018

2017

Income

    

Interest income

$

-

$

137

Other income

 

-

 

859

  

-

 

996

     
     

Gain on Disposition of
Operating Partnerships

 


-

 


67,000

     

Expenses

    

Professional fees

 

-

 

12,275

Fund management fee, net (Note C) 

 

-

 

5,603

General and administrative expenses

 

-

 

40,874

  

-

 

58,752

     

NET INCOME (LOSS)

$

-

$

9,244

     

Net income (loss) allocated to 
assignees


$


-


$


9,152

     

Net income (loss) allocated to general
partner


$


-


$


92

     

Net income (loss) per BAC

$

-

$

.00



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 22

  

2018

 

2017

Income

    

Interest income

$

1,579

$

361

Other income

 

-

 

-

  

1,579

 

361

     
     

Gain on Disposition of
Operating Partnerships

 


38,000

 


-

     

Expenses

    

Professional fees

 

13,451

 

12,818

Fund management fee, net (Note C) 

 

18,778

 

21,409

General and administrative expenses

 

45,494

 

14,441

  

77,723

 

48,668

     

NET INCOME (LOSS)

$

(38,144)

$

(48,307)

     

Net income (loss) allocated to 
assignees


$


(37,763)


$


(47,824)

     

Net income (loss) allocated to general
partner


$


(381)


$


(483)

     

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 OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 23

  

2018

 

2017

Income

    

Interest income

$

2,045

$

3,364

Other income

 

3,955

 

5,932

  

6,000

 

9,296

     
     

Gain on Disposition of
Operating Partnerships

 


43,500

 


989,962

     

Expenses

    

Professional fees

 

15,332

 

16,579

Fund management fee, net (Note C) 

 

13,062

 

14,918

General and administrative expenses

 

48,108

 

16,306

  

76,502

 

47,803

     

NET INCOME (LOSS)

$

(27,002)

$

951,455

     

Net income (loss) allocated to 
assignees


$


(26,732)


$


941,940

     

Net income (loss) allocated to general
partner


$


(270)


$


9,515

     

Net income (loss) per BAC

$

(.01)

$

.28



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 24

  

2018

 

2017

Income

Interest income

$

1,826

$

372

Other income

 

582

 

748

  

2,408

 

1,120

     
     

Gain on Disposition of
Operating Partnerships

 


23,678

 


-

     

Expenses

    

Professional fees

 

15,254

 

14,336

Fund management fee, net (Note C) 

 

30,282

 

34,929

General and administrative expenses

 

14,432

 

13,969

  

59,968

 

63,234

     

NET INCOME (LOSS)

$

(33,882)

$

(62,114)

     

Net income (loss) allocated to 
assignees


$


(33,543)


$


(61,493)

     

Net income (loss) allocated to general
partner


$


(339)


$


(621)

     

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 OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 25

  

2018

 

2017

Income

Interest income

$

-

$

143

Other income

 

-

 

10,178

  

-

 

10,321

     
     

Gain on Disposition of
Operating Partnerships

 


-

 


97,399

     

Expenses

    

Professional fees

 

-

 

13,993

Fund management fee, net (Note C) 

 

-

 

9,682

General and administrative expenses

 

-

 

49,639

  

-

 

73,314

     

NET INCOME (LOSS)

$

-

$

34,406

     

Net income (loss) allocated to 
assignees


$


-


$


34,062

     

Net income (loss) allocated to general
partner


$


-


$


344

     

Net income (loss) per BAC

$

-

$

.01



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 26

  

2018

 

2017

Income

    

Interest income

$

3,115

$

799

Other income

 

420

 

526

  

3,535

 

1,325

     
     

Gain on Disposition of
Operating Partnerships

 


10,500

 


80,000

     

Expenses

    

Professional fees

 

22,612

 

20,884

Fund management fee, net (Note C) 

 

42,485

 

56,858

General and administrative expenses

 

18,890

 

18,331

  

83,987

 

96,073

     

NET INCOME (LOSS)

$

(69,952)

$

(14,748)

     

Net income (loss) allocated to 
assignees


$


(69,252)


$


(14,601)

     

Net income (loss) allocated to general
partner


$

 

(700)


$


(147)

     

Net income (loss) per BAC

$

(.02)

$

(.00)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 27

  

2018

 

2017

Income

    

Interest income

$

44,222

$

19,993

Other income

 

1,366

 

17,473

  

45,588

 

37,466

     
     

Gain on Disposition of
Operating Partnerships

 


-

 


3,291,567

     

Expenses

    

Professional fees

 

16,741

 

79,116

Fund management fee, net (Note C) 

 

10,525

 

22,678

General and administrative expenses

 

14,511

 

13,797

  

41,777

 

115,591

     

NET INCOME (LOSS)

$

3,811

$

3,213,442

     

Net income (loss) allocated to 
assignees


$


3,773


$


3,181,308

     

Net income (loss) allocated to general
partner


$


38


$


32,134

     

Net income (loss) per BAC

$

.00

$

1.30



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 28

  

2018

 

2017

Income

    

Interest income

$

3,212

$

872

Other income

 

446

 

446

  

3,658

 

1,318

     
     

Gain on Disposition of
Operating Partnerships

 


8,500

 


-

     

Expenses

    

Professional fees

 

14,429

 

16,372

Fund management fee, net (Note C) 

 

21,436

 

24,532

General and administrative expenses

 

17,418

 

16,815

  

53,283

 

57,719

     

NET INCOME (LOSS)

$

(41,125)

$

(56,401)

     

Net income (loss) allocated to 
assignees


$


(40,714)


$


(55,837)

     

Net income (loss) allocated to general
partner


$


(411)


$


(564)

     

Net income (loss) per BAC

$

(.01)

$

(.01)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 29

  

2018

 

2017

Income

    

Interest income

$

3,313

$

493

Other income

 

-

 

-

  

3,313

 

493

     
     

Gain on Disposition of
Operating Partnerships

 


123,094

 


-

     

Expenses

    

Professional fees

 

17,244

 

17,325

Fund management fee, net (Note C) 

 

26,615

 

58,253

General and administrative expenses

 

18,184

 

17,560

  

62,043

 

93,138

     

NET INCOME (LOSS)

$

64,364

$

(92,645)

     

Net income (loss) allocated to 
assignees


$


63,720


$


(91,719)

     

Net income (loss) allocated to general
partner


$


644


$


(926)

     

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 OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 30

  

2018

 

2017

Income

    

Interest income

$

2,269

$

700

Other income

 

2,049

 

1,243

  

4,318

 

1,943

     
     

Gain on Disposition of
Operating Partnerships

 


195,182

 


265,984

     

Expenses

    

Professional fees

 

18,592

 

15,688

Fund management fee, net (Note C) 

 

18,242

 

(9,082)

General and administrative expenses

 

47,855

 

13,963

  

84,689

 

20,569

     

NET INCOME (LOSS)

$

114,811

$

247,358

     

Net income (loss) allocated to 
assignees


$


113,663


$


244,884

     

Net income (loss) allocated to general
partner


$


1,148


$


2,474

     

Net income (loss) per BAC

$

.04

$

.09



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 31

  

2018

 

2017

Income

    

Interest income

$

13,940

$

4,736

Other income

 

476

 

1,116

  

14,416

 

5,852

     
     

Gain on Disposition of
Operating Partnerships

 


105,794

 


45,000

     

Expenses

    

Professional fees

 

24,053

 

26,529

Fund management fee, net (Note C) 

 

50,192

 

60,990

General and administrative expenses

 

17,848

 

17,307

  

92,093

 

104,826

     

NET INCOME (LOSS)

$

28,117

$

(53,974)

     

Net income (loss) allocated to 
assignees


$


27,836


$


(53,434)

     

Net income (loss) allocated to general
partner


$


281


$


(540)

     

Net income (loss) per BAC

$

.01

$

(.01)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 32

  

2018

 

2017

Income

    

Interest income

$

1,697

$

2,930

Other income

 

-

 

11,000

  

1,697

 

13,930

     
     

Gain on Disposition of
Operating Partnerships

 


487,880

 


1,677,252

     

Expenses

    

Professional fees

 

22,552

 

19,436

Fund management fee, net (Note C) 

 

60,175

 

63,474

General and administrative expenses

 

18,395

 

21,626

  

101,122

 

104,536

     

NET INCOME (LOSS)

$

388,455

$

1,586,646

     

Net income (loss) allocated to 
assignees


$


384,570


$


1,570,780

     

Net income (loss) allocated to general
partner


$


3,885


$


15,866

     

Net income (loss) per BAC

$

.08

$

.33



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,

(Unaudited)

Series 33

  

2018

 

2017

Income

    

Interest income

$

2,752

$

511

Other income

2,536

5,329

  

5,288

 

5,840

     
     

Gain on Disposition of
Operating Partnerships

 


-

 


67,454

     

Expenses

    

Professional fees

 

15,160

 

13,651

Fund management fee, net (Note C) 

 

31,535

 

23,109

General and administrative expenses

 

14,004

 

13,345

  

60,699

 

50,105

     

NET INCOME (LOSS)

$

(55,411)

$

23,189

     

Net income (loss) allocated to 
assignees


$


(54,857)


$


22,957

     

Net income (loss) allocated to general
partner


$


(554)


$


232

     

Net income (loss) per BAC

$

(.02)

$

.01



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 34

  

2018

 

2017

Income

Interest income

$

1,984

$

1,448

Other income

 

1,539

 

1,539

  

3,523

 

2,987

     
     

Gain on Disposition of
Operating Partnerships

 


-

 


-

     

Expenses

    

Professional fees

 

13,519

 

17,291

Fund management fee, net (Note C) 

 

32,897

 

32,897

General and administrative expenses

 

15,960

 

15,123

  

62,376

 

65,311

NET INCOME (LOSS)

$

(58,853)

$

(62,324)

     

Net income (loss) allocated to 
assignees


$


(58,264)


$


(61,701)

     

Net income (loss) allocated to general
partner


$


(589)


$


(623)

     

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 OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 35

  

2018

 

2017

Income

    

Interest income

$

25,453

$

9,031

Other income

 

-

 

2,818

25,453

11,849

     
     

Gain on Disposition of
Operating Partnerships

 


-

 


2,653,528

     

Expenses

Professional fees

 

18,579

 

16,632

Fund management fee, net (Note C) 

 

18,759

 

39,956

General and administrative expenses

 

15,513

 

14,895

  

52,851

 

71,483

     

NET INCOME (LOSS)

$

(27,398)

$

2,593,894

     

Net income (loss) allocated to 
assignees


$


(27,124)


$


2,567,955

     

Net income (loss) allocated to general
partner


$


(274)


$


25,939

     

Net income (loss) per BAC

$

(.01)

$

.78



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 36

  

2018

 

2017

Income

    

Interest income

$

15,772

$

5,764

Other income

 

5,119

 

3,968

  

20,891

 

9,732

     
     

Gain on Disposition of
Operating Partnerships

 


253,104

 


-

     

Expenses

    

Professional fees

 

67,005

 

17,448

Fund management fee, net (Note C) 

 

13,481

 

20,968

General and administrative expenses

 

12,954

 

12,507

  

93,440

 

50,923

     

NET INCOME (LOSS)

$

180,555

$

(41,191)

     

Net income (loss) allocated to 
assignees


$


178,749


$


(40,779)

     

Net income (loss) allocated to general
partner


$


1,806


$


(412)

     

Net income (loss) per BAC

$

.09

$

(.02)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 37

  

2018

 

2017

Income

Interest income

$

1,784

$

4,368

Other income

 

21,485

 

16,657

  

23,269

 

21,025

     
     

Gain on Disposition of
Operating Partnerships

 


1,062,375

 


140,415

     

Expenses

    

Professional fees

 

13,306

 

16,628

Fund management fee, net (Note C) 

 

5,562

 

27,941

General and administrative expenses

 

50,977

 

12,567

  

69,845

 

57,136

     

NET INCOME (LOSS)

$

1,015,799

$

104,304

     

Net income (loss) allocated to 
assignees


$


1,005,641


$


103,261

     

Net income (loss) allocated to general
partner


$


10,158


$


1,043

     

Net income (loss) per BAC

$

.40

$

.04



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 38

  

2018

 

2017

Income

Interest income

$

5,374

$

6,938

Other income

 

70,202

 

17,566

  

75,576

 

24,504

     
     

Gain on Disposition of
Operating Partnerships

 


7,000

 


-

     

Expenses

    

Professional fees

 

13,675

 

18,459

Fund management fee, net (Note C) 

 

42,396

 

44,002

General and administrative expenses

 

13,845

 

13,369

  

69,916

 

75,830

     

NET INCOME (LOSS)

$

12,660

$

(51,326)

     

Net income (loss) allocated to 
assignees


$


12,533


$


(50,813)

     

Net income (loss) allocated to general
partner


$


127


$


(513)

     

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 OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 39

  

2018

 

2017

Income

    

Interest income

$

-

$

870

Other income

 

-

 

386

  

-

 

1,256

     
     

Gain on Disposition of
Operating Partnerships

 


-

 


17,779

     

Expenses

    

Professional fees

 

-

 

19,295

Fund management fee, net (Note C) 

 

-

 

5,130

General and administrative expenses

 

-

 

42,679

  

-

 

67,104

     

NET INCOME (LOSS)

$

-

$

(48,069)

     

Net income (loss) allocated to 
assignees


$


-


$


(47,588)

     

Net income (loss) allocated to general
partner


$


-


$


(481)

     

Net income (loss) per BAC

$

-

$

(.02)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 40

  

2018

 

2017

Income

    

Interest income

$

2,395

$

923

Other income

1,250

5,172

  

3,645

 

6,095

     

Gain on Disposition of
Operating Partnerships

 


44,500

 


588,952

     

Expenses

    

Professional fees

 

18,131

 

22,111

Fund management fee, net (Note C) 

 

69,028

 

73,594

General and administrative expenses

 

14,594

 

13,758

  

101,753

 

109,463

     

NET INCOME (LOSS)

$

(53,608)

$

485,584

     

Net income (loss) allocated to 
assignees


$


(53,072)


$


480,728

     

Net income (loss) allocated to general
partner


$


(536)


$


4,856

     

Net income (loss) per BAC

$

(.02)

$

.18



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 41

  

2018

 

2017

Income

Interest income

$

3,242

$

1,480

Other income

 

37,141

 

13,908

  

40,383

 

15,388

     
     

Gain on Disposition of
Operating Partnerships

 


14,000

 


782,887

     

Expenses

    

Professional fees

 

25,691

 

23,062

Fund management fee, net (Note C) 

 

90,022

 

141,487

General and administrative expenses

 

16,069

 

17,027

  

131,782

 

181,576

     

NET INCOME (LOSS)

$

(77,399)

$

616,699

     

Net income (loss) allocated to 
assignees


$


(76,625)


$


610,532

     

Net income (loss) allocated to general
partner


$


(774)


$


6,167

     

Net income (loss) per BAC

$

(.03)

$

.21



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 42

  

2018

 

2017

Income

    

Interest income

$

11,761

$

6,138

Other income

 

20,325

 

15,960

  

32,086

 

22,098

     
     

Gain on Disposition of
Operating Partnerships

 


54,322

 


262,279

Expenses

    

Professional fees

 

23,325

 

20,336

Fund management fee, net (Note C) 

 

56,827

 

113,842

General and administrative expenses

 

15,148

 

14,961

  

95,300

 

149,139

     

NET INCOME (LOSS)

$

(8,892)

$

135,238

     

Net income (loss) allocated to 
assignees


$


(8,803)


$


133,886

     

Net income (loss) allocated to general
partner


$


(89)


$


1,352

     

Net income (loss) per BAC

$

(.00)

$

.05



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 43

  

2018

 

2017

Income

    

Interest income

$

4,730

$

5,156

Other income

 

48,808

 

40,981

  

53,538

 

46,137

     
     

Gain on Disposition of
Operating Partnerships

 


75,520

 


225,500

     

Expenses

    

Professional fees

 

25,094

 

23,379

Fund management fee, net (Note C) 

 

78,206

 

150,203

General and administrative expenses

 

17,735

 

17,057

  

121,035

 

190,639

     

NET INCOME (LOSS)

$

8,023

$

80,998

     

Net income (loss) allocated to 
assignees


$


7,943


$


80,188

     

Net income (loss) allocated to general
partner


$


80


$


810

     

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 OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 44

  

2018

 

2017

Income

    

Interest income

$

439

$

74

Other income

 

14,613

 

18,760

  

15,052

 

18,834

     
     

Gain on Disposition of
Operating Partnerships

 


-

 


-

     

Expenses

    

Professional fees

 

15,809

 

24,884

Fund management fee, net (Note C) 

 

144,338

 

146,356

General and administrative expenses

 

14,879

 

14,015

  

175,026

 

185,255

     

NET INCOME (LOSS)

$

(159,974)

$

(166,421)

     

Net income (loss) allocated to 
assignees


$


(158,374)


$


(164,757)

     

Net income (loss) allocated to general
partner


$


(1,600)


$


(1,664)

     

Net income (loss) per BAC

$

(.06)

$

(.06)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 45

  

2018

 

2017

Income

    

Interest income

$

6,470

$

1,752

Other income

 

26,708

 

27,833

  

33,178

 

29,585

     
     

Gain on Disposition of
Operating Partnerships

 


342,500

 


-

     

Expenses

    

Professional fees

 

33,169

 

48,168

Fund management fee, net (Note C) 

 

167,442

 

193,206

General and administrative expenses

 

20,368

 

19,978

  

220,979

 

261,352

     

NET INCOME (LOSS)

$

154,699

$

(231,767)

     

Net income (loss) allocated to 
assignees


$


153,152


$


(229,449)

Net income (loss) allocated to general
partner


$


1,547


$


(2,318)

     

Net income (loss) per BAC

$

.04

$

(.06)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 46

2018

2017

Income

    

Interest income

$

2,937

$

1,273

Other income

 

33,204

 

33,728

  

36,141

 

35,001

     
     

Gain on Disposition of
Operating Partnerships

 


-

 


10,994

     

Expenses

    

Professional fees

 

20,243

 

20,957

Fund management fee, net (Note C) 

 

143,090

 

139,338

General and administrative expenses

 

16,582

 

15,645

  

179,915

 

175,940

     

NET INCOME (LOSS)

$

(143,774)

$

(129,945)

     

Net income (loss) allocated to 
assignees


$


(142,336)


$


(128,646)

     

Net income (loss) allocated to general
partner


$


(1,438)


$


(1,299)

     

Net income (loss) per BAC

$

(.05)

$

(.04)



The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

ThreeNine Months Ended June 30,December 31, 2018
(Unaudited)

             


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

            

Partners' capital
(deficit)
April 1, 2018



$



2,931,035



$



(6,008,922)



$



(3,077,887)



$



2,931,035



$



(6,008,922)



$



(3,077,887)

            

Contributions

 

-

 

5,403,788

 

5,403,788

      

Distributions

 

(1,328,390)

 

(3,110)

 

(1,331,500)

      

Net income (loss)

 

556,906

 

5,626

 

562,532

 

1,291,810

 

13,049

 

1,304,859

            

Partners' capital
(deficit),
June 30, 2018



$



3,487,941



$



(6,003,296)



$



(2,515,355)

Partners' capital
(deficit),
December 31, 2018



$



2,894,455



$



(595,195)



$



2,299,260






































The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

Series 20

      

Partners' capital
(deficit)
  April 1, 2018



$



(882,456)



$



(320,280)



$



(1,202,736)

       

Contributions

 

-

 

1,073,757

 

1,073,757

       

Distributions

 

-

 

-

 

-

       

Net income (loss)

 

127,689

 

1,290

 

128,979

       

Partners' capital
(deficit),
  December 31, 2018



$



(754,767)



$



754,767



$



-



 


Assignees

 

General
Partner

 


Total

Series 21

      

Partners' capital
(deficit)
  April 1, 2018



$



(898,231)



$



898,231



$



-

       

Contributions

 

-

 

-

 

-

       

Distributions

 

-

 

-

 

-

       

Net income (loss)

 

-

 

-

 

-

       

Partners' capital
(deficit),
  December 31, 2018



$



(898,231)



$



898,231



$



-



 


Assignees

 

General
Partner

 


Total

Series 22

      

Partners' capital
(deficit)
  April 1, 2018



$



(2,410,599)



$



(245,646)



$



(2,656,245)

       

Contributions

 

-

 

2,694,389

 

2,694,389

       

Distributions

 

-

 

-

 

-

       

Net income (loss)

 

(37,763)

 

(381)

 

(38,144)

       

Partners' capital
(deficit),
  December 31, 2018



$



(2,448,362)



$



2,448,362



$



-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

ThreeNine Months Ended June 30,December 31, 2018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 20

      

Series 23

      

Partners' capital
(deficit)
April 1, 2018



$



(882,456)



$



(320,280)



$



(1,202,736)



$



(197,532)



$



(289,719)



$



(487,251)

      

Contributions

 

-

 

514,253

 

514,253

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

 

138,171

 

1,396

 

139,567

(26,732)

(270)

(27,002)

            

Partners' capital
(deficit),
June 30, 2018



$



(744,285)



$



(318,884)



$



(1,063,169)

Partners' capital
(deficit),
December 31, 2018



$



(224,264)



$



224,264



$



-



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 21

      

Series 24

      

Partners' capital
(deficit)
April 1, 2018



$



(898,231)



$



898,231



$



-



$



623,279



$



(174,767)



$



448,512

      

Contributions

 

-

 

-

 

-

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

 

-

 

-

 

-

 

(33,543)

 

(339)

 

(33,882)

            

Partners' capital
(deficit),
June 30, 2018



$



(898,231)



$



898,231



$



-

Partners' capital
(deficit),
December 31, 2018



$



589,736



$



(175,106)



$



414,630



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 22

      

Series 25

      

Partners' capital
(deficit)
April 1, 2018



$



(2,410,599)



$



(245,646)



$



(2,656,245)



$



219,815



$



(219,815)



$



-

      

Contributions

 

-

 

-

 

-

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

 

(18,057)

 

(182)

 

(18,239)

 

-

 

-

 

-

            

Partners' capital
(deficit),
June 30, 2018



$



(2,428,656)



$



(245,828)



$



(2,674,484)

Partners' capital
(deficit),
December 31, 2018



$



219,815



$



(219,815)



$



-












The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

ThreeNine Months Ended June 30,December 31, 2018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 23

      

Series 26

      

Partners' capital
(deficit)
April 1, 2018



$



(197,532)



$



(289,719)



$



(487,251)



$



954,178



$



(311,920)



$



642,258

      

Contributions

 

-

 

-

 

-

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

 

(13,687)

 

(138)

 

(13,825)

 

(69,252)

 

(700)

 

(69,952)

            

Partners' capital
(deficit),
June 30, 2018



$



(211,219)



$



(289,857)



$



(501,076)

Partners' capital
(deficit),
December 31, 2018



$



884,926



$



(312,620)



$



572,306



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 24

      

Series 27

      

Partners' capital
(deficit)
April 1, 2018



$



623,279



$



(174,767)



$



448,512



$



6,938,381



$



(138,448)



$



6,799,933

      

Contributions

 

-

 

-

 

-

      

Distributions

 

(307,853)

 

(3,110)

 

(310,963)

            

Net income (loss)

 

(25,075)

 

(253)

 

(25,328)

 

3,773

 

38

 

3,811

            

Partners' capital
(deficit),
June 30, 2018



$



598,204



$



(175,020)



$



423,184

Partners' capital
(deficit),
December 31, 2018



$



6,634,301



$



(141,520)



$



6,492,781



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 25

      

Series 28

      

Partners' capital
(deficit)
April 1, 2018



$



219,815



$



(219,815)



$



-



$



1,016,975



$



(274,411)



$



742,564

      

Contributions

 

-

 

-

 

-

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

 

-

 

-

 

-

 

(40,714)

 

(411)

 

(41,125)

            

Partners' capital
(deficit),
June 30, 2018



$



219,815



$



(219,815)



$



-

Partners' capital
(deficit),
December 31, 2018



$



976,261



$



(274,822)



$



701,439












The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

ThreeNine Months Ended June 30,December 31, 2018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 26

      

Series 29

      

Partners' capital
(deficit)
April 1, 2018



$



954,178



$



(311,920)



$



642,258



$



(2,570,004)



$



(368,028)



$



(2,938,032)

      

Contributions

 

-

 

-

 

-

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

 

(24,985)

 

(252)

 

(25,237)

 

63,720

 

644

 

64,364

            

Partners' capital
(deficit),
June 30, 2018



$



929,193



$



(312,172)



$



617,021

Partners' capital
(deficit),
December 31, 2018



$



(2,506,284)



$



(367,384)



$



(2,873,668)



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 27

      

Series 30

      

Partners' capital
(deficit)
April 1, 2018



$



6,938,381



$



(138,448)



$



6,799,933



$



(996,782)



$



(239,418)



$



(1,236,200)

      

Contributions

 

-

 

1,121,389

 

1,121,389

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

 

(10,254)

 

(104)

 

(10,358)

 

113,663

 

1,148

 

114,811

            

Partners' capital
(deficit),
June 30, 2018



$



6,928,127



$



(138,552)



$



6,789,575

Partners' capital
(deficit),
December 31, 2018



$



(883,119)



$



883,119



$



-


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 28

      

Series 31

      

Partners' capital
(deficit)
April 1, 2018



$



1,016,975



$



(274,411)



$



742,564



$



2,290,341



$



(359,955)



$



1,930,386

      

Contributions

 

-

 

-

 

-

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

 

(11,444)

 

(116)

 

(11,560)

 

27,836

 

281

 

28,117

            

Partners' capital
(deficit),
June 30, 2018



$



1,005,531



$



(274,527)



$



731,004

Partners' capital
(deficit),
December 31, 2018



$



2,318,177



$



(359,674)



$



1,958,503












The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

ThreeNine Months Ended June 30,December 31, 2018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 29

      

Series 32

      

Partners' capital
(deficit)
April 1, 2018



$



(2,570,004)



$



(368,028)



$



(2,938,032)



$



47,520



$



(409,988)



$



(362,468)

      

Contributions

 

-

 

-

 

-

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

 

91,050

 

920

 

91,970

 

384,570

 

3,885

 

388,455

            

Partners' capital
(deficit),
June 30, 2018



$



(2,478,954)



$



(367,108)



$



(2,846,062)

Partners' capital
(deficit),
December 31, 2018



$



432,090



$



(406,103)



$



25,987



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 30

      

Series 33

      

Partners' capital
(deficit)
April 1, 2018



$



(996,782)



$



(239,418)



$



(1,236,200)



$



(567,133)



$



(233,789)



$



(800,922)

      

Contributions

 

-

 

-

 

-

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

 

4,036

 

41

 

4,077

 

(54,857)

 

(554)

 

(55,411)

            

Partners' capital
(deficit),
June 30, 2018



$



(992,746)



$



(239,377)



$



(1,232,123)

Partners' capital
(deficit),
December 31, 2018



$



(621,990)



$



(234,343)



$



(856,333)



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 31

      

Series 34

      

Partners' capital
(deficit)
April 1, 2018



$



2,290,341



$



(359,955)



$



1,930,386



$



(2,120,686)



$



(324,845)



$



(2,445,531)

      

Contributions

 

-

 

-

 

-

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

 

(24,525)

 

(248)

 

(24,773)

 

(58,264)

 

(589)

 

(58,853)

            

Partners' capital
(deficit),
June 30, 2018



$



2,265,816



$



(360,203)



$



1,905,613

Partners' capital
(deficit),
December 31, 2018



$



(2,178,950)



$



(325,434)



$



(2,504,384)












The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

ThreeNine Months Ended June 30,December 31, 2018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 32

      

Series 35

      

Partners' capital
(deficit)
April 1, 2018



$



47,520



$



(409,988)



$



(362,468)



$



4,666,048



$



(237,742)



$



4,428,306

      

Contributions

 

-

 

-

 

-

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

 

444,869

 

4,494

 

449,363

 

(27,124)

 

(274)

 

(27,398)

            

Partners' capital
(deficit),
June 30, 2018



$



492,389



$



(405,494)



$



86,895

Partners' capital
(deficit),
December 31, 2018



$



4,638,924



$



(238,016)



$



4,400,908



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 33

      

Series 36

      

Partners' capital
(deficit)
April 1, 2018



$



(567,133)



$



(233,789)



$



(800,922)



$



2,133,963



$



(158,913)



$



1,975,050

      

Contributions

 

-

 

-

 

-

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

 

(27,148)

 

(274)

 

(27,422)

 

178,749

 

1,806

 

180,555

            

Partners' capital
(deficit),
June 30, 2018



$



(594,281)



$



(234,063)



$



(828,344)

Partners' capital
(deficit),
December 31, 2018



$



2,312,712



$



(157,107)



$



2,155,605



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 34

      

Series 37

      

Partners' capital
(deficit)
April 1, 2018



$



(2,120,686)



$



(324,845)



$



(2,445,531)



$



220,255



$



(215,517)



$



4,738

Contributions

 

-

 

-

 

-

      

Distributions

 

(1,020,537)

 

-

 

(1,020,537)

            

Net income (loss)

 

(25,105)

 

(254)

 

(25,359)

 

1,005,641

 

10,158

 

1,015,799

            

Partners' capital
(deficit),
June 30, 2018



$



(2,145,791)



$



(325,099)



$



(2,470,890)

Partners' capital
(deficit),
December 31, 2018



$



205,359



$



(205,359)



$



-












The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

ThreeNine Months Ended June 30,December 31, 2018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 35

      

Series 38

      

Partners' capital
(deficit)
April 1, 2018



$



4,666,048



$



(237,742)



$



4,428,306



$



1,677,456



$



(203,545)



$



1,473,911

Contributions

-

-

-

Distributions

-

-

-

      

Net income (loss)

 

(16,404)

 

(166)

 

(16,570)

12,533

127

12,660

      

Partners' capital
(deficit),
June 30, 2018



$



4,649,644



$



(237,908)



$



4,411,736

Partners' capital
(deficit),
December 31, 2018



$



1,689,989



$



(203,418)



$



1,486,571



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 36

      

Series 39

      

Partners' capital
(deficit)
April 1, 2018



$



2,133,963



$



(158,913)



$



1,975,050



$



196,043



$



(196,043)



$



-

      

Contributions

-

-

-

Distributions

-

-

-

      

Net income (loss)

 

(43,091)

 

(435)

 

(43,526)

-

-

-

            

Partners' capital
(deficit),
June 30, 2018



$



2,090,872



$



(159,348)



$



1,931,524

Partners' capital
(deficit),
December 31, 2018



$



196,043



$



(196,043)



$



-



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 37

      

Series 40

      

Partners' capital
(deficit)
April 1, 2018



$



220,255



$



(215,517)



$



4,738



$



(1,737,068)



$



(244,762)



$



(1,981,830)

      

Contributions

 

-

 

-

 

-

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

 

7,482

 

76

 

7,558

 

(53,072)

 

(536)

 

(53,608)

            

Partners' capital
(deficit),
June 30, 2018



$



227,737



$



(215,441)



$



12,296

Partners' capital
(deficit),
December 31, 2018



$



(1,790,140)



$



(245,298)



$



(2,035,438)












The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

ThreeNine Months Ended June 30,December 31, 2018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 38

      

Series 41

      

Partners' capital
(deficit)
April 1, 2018



$



1,677,456



$



(203,545)



$



1,473,911



$



(1,881,761)



$



(270,693)



$



(2,152,454)

      

Contributions

 

-

 

-

 

-

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

7,042

71

7,113

 

(76,625)

 

(774)

 

(77,399)

            

Partners' capital
(deficit),
June 30, 2018



$



1,684,498



$



(203,474)



$



1,481,024

Partners' capital
(deficit),
December 31, 2018



$



(1,958,386)



$



(271,467)



$



(2,229,853)



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 39

      

Series 42

      

Partners' capital
(deficit)
April 1, 2018



$



196,043



$



(196,043)



$



-



$



1,565,620



$



(227,557)



$



1,338,063

      

Contributions

 

-

 

-

 

-

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

-

-

-

 

(8,803)

 

(89)

 

(8,892)

            

Partners' capital
(deficit),
June 30, 2018



$



196,043



$



(196,043)



$



-

Partners' capital
(deficit),
December 31, 2018



$



1,556,817



$



(227,646)



$



1,329,171



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 40

      

Series 43

      

Partners' capital
(deficit)
April 1, 2018



$



(1,737,068)



$



(244,762)



$



(1,981,830)



$



235,085



$



(322,394)



$



(87,309)

      

Contributions

 

-

 

-

 

-

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

 

(41,322)

 

(417)

 

(41,739)

 

7,943

 

80

 

8,023

            

Partners' capital
(deficit),
June 30, 2018



$



(1,778,390)



$



(245,179)



$



(2,023,569)

Partners' capital
(deficit),
December 31, 2018



$



243,028



$



(322,314)



$



(79,286)






 






The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

ThreeNine Months Ended June 30,December 31, 2018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 41

      

Series 44

      

Partners' capital
(deficit)
April 1, 2018



$



(1,881,761)



$



(270,693)



$



(2,152,454)



$



(2,481,212)



$



(264,909)



$



(2,746,121)

      

Contributions

 

-

 

-

 

-

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

 

7,554

 

76

 

7,630

 

(158,374)

 

(1,600)

 

(159,974)

            

Partners' capital
(deficit),
June 30, 2018



$



(1,874,207)



$



(270,617)



$



(2,144,824)

Partners' capital
(deficit),
December 31, 2018



$



(2,639,586)



$



(266,509)



$



(2,906,095)



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 42

      

Series 45

      

Partners' capital
(deficit)
April 1, 2018



$



1,565,620



$



(227,557)



$



1,338,063



$



(1,985,417)



$



(377,289)



$



(2,362,706)

      

Contributions

-

-

-

Distributions

-

-

-

      

Net income (loss)

 

(31,148)

 

(315)

 

(31,463)

153,152

1,547

154,699

            

Partners' capital
(deficit),
June 30, 2018



$



1,534,472



$



(227,872)



$



1,306,600

Partners' capital
(deficit),
December 31, 2018



$



(1,832,265)



$



(375,742)



$



(2,208,007)



 


Assignees

 

General
Partner

 


Total

 


Assignees

 

General
Partner

 


Total

Series 43

      

Series 46

      

Partners' capital
(deficit)
April 1, 2018



$



235,085



$



(322,394)



$



(87,309)



$



(1,125,043)



$



(276,760)



$



(1,401,803)

      

Contributions

 

-

 

-

 

-

      

Distributions

 

-

 

-

 

-

            

Net income (loss)

 

7,247

 

73

 

7,320

 

(142,336)

 

(1,438)

 

(143,774)

            

Partners' capital
(deficit),
June 30, 2018



$



242,332



$



(322,321)



$



(79,989)

Partners' capital
(deficit),
December 31, 2018



$



(1,267,379)



$



(278,198)



$



(1,545,577)












The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)CASH FLOWS

ThreeNine Months Ended June 30, 2018December 31,
(Unaudited)


 


Assignees

 

General
Partner

 


Total

Series 44

      

Partners' capital
(deficit)
  April 1, 2018



$



(2,481,212)



$



(264,909)



$



(2,746,121)

       

Net income (loss)

 

(59,260)

 

(599)

 

(59,859)

       

Partners' capital
(deficit),
  June 30, 2018



$



(2,540,472)



$



(265,508)



$



(2,805,980)

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

1,304,859

$

9,020,023

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

    

Gain on Disposition 
   Operating Partnerships

 


(3,086,786)

 


(11,305,952)

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


987,419

 


(46,259)

Decrease (Increase) in other
   assets

 


-

 


1,285

(Decrease) Increase in accounts
   payable affiliates

 


(4,368,397)

 


(6,979,847)

Net cash (used in) provided by 
operating activities

 


(5,162,905)

 


(9,310,750)

Cash flows from investing activities:

    

Capital contributions paid to 
    Operating Partnerships

 


-

 


(19,011)

Proceeds from the disposition of     Operating Partnerships

 


2,954,134

 


11,061,047

Net cash (used in) provided by
investing activities

 


2,954,134

 


11,042,036

Cash flows from financing activities:

Distributions

(1,331,500)

(420,163)

Net cash used in
financing activities


(1,331,500)


(420,163)

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(3,540,271)

 


1,311,123

Cash and cash equivalents, beginning

 

27,208,717

 

27,209,997

Cash and cash equivalents, ending

$

23,668,446

$

28,521,120



 


Assignees

 

General
Partner

 


Total

Series 45

      

Partners' capital
(deficit)
  April 1, 2018



$



(1,985,417)



$



(377,289)



$



(2,362,706)

       

Net income (loss)

275,855

2,786

278,641

       

Partners' capital
(deficit),
  June 30, 2018



$



(1,709,562)



$



(374,503)



$



(2,084,065)

Supplemental schedule of noncash

investing and financing activities:

 

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





$





5,403,788





$





1,070,891

 

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




$




-




$




127,351



 


Assignees

 

General
Partner

 


Total

Series 46

      

Partners' capital
(deficit)
  April 1, 2018



$



(1,125,043)



$



(276,760)



$



(1,401,803)

       

Net income (loss)

 

(54,895)

 

(554)

 

(55,449)

       

Partners' capital
(deficit),
  June 30, 2018



$



(1,179,938)



$



(277,314)



$



(1,457,252)










The accompanying notes are an integral part of this condensed statement


Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 20

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

128,979

$

(3,202)

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

    

Gain on Disposition 
   Operating Partnerships



(197,337)

 


(42,000)

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


2,000

Decrease (Increase) in other
   assets



-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


(370,966)

 


16,607

Net cash (used in) provided by 
operating activities

 


(439,324)

 


(26,595)

Cash flows from investing activities:

    

Capital contributions paid to 
    Operating Partnerships

 


-

 


-

Proceeds from the disposition of     Operating Partnerships

 


197,337

 


42,000

Net cash (used in) provided by
investing activities

 


197,337

 


42,000

Cash flows from financing activities:

Distributions

-

-

Net cash used in
financing activities


-


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(241,987)

 


15,405

Cash and cash equivalents, beginning

 

241,987

 

271,060

Cash and cash equivalents, ending

$

-

$

286,465

Supplemental schedule of noncash

investing and financing activities:

 

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





$





1,073,757





$





-

 

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




$




-




$




-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 21

  

2018

 

2017

Cash flows from operating activities:

Net income (loss)

$

-

$

9,244

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

    

Gain on Disposition 
   Operating Partnerships



-

 


(67,000)

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

Decrease (Increase) in other
   assets



-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


(250,346)

Net cash (used in) provided by 
operating activities

 


-

 


(308,102)

Cash flows from investing activities:

    

Capital contributions paid to 
    Operating Partnerships

 


-

 


-

Proceeds from the disposition of     Operating Partnerships

 


-

 


67,000

Net cash (used in) provided by
investing activities

 


-

 


67,000

Cash flows from financing activities:

Distributions

-

-

Net cash used in
financing activities


-


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


-

 


(241,102)

Cash and cash equivalents, beginning

 

-

 

241,102

Cash and cash equivalents, ending

$

-

$

-

Supplemental schedule of noncash

investing and financing activities:

 

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





$





-





$





1,070,891

 

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




$




-




$




-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 22

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

(38,144)

$

(48,307)

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

    

Gain on Disposition 
   Operating Partnerships

 


(38,000)

 


-

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


(183,720)

 


21,909

Net cash (used in) provided by 
operating activities

 


(259,864)

 


(26,398)

Cash flows from investing activities:

    

Capital contributions paid to 
    Operating Partnerships

 


-

 


-

Proceeds from the disposition of     Operating Partnerships

 


38,000

 


-

Net cash (used in) provided by
investing activities

 


38,000

 


-

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(221,864)

 


(26,398)

Cash and cash equivalents, beginning

 

221,864

 

252,064

Cash and cash equivalents, ending

$

-

$

225,666

Supplemental schedule of noncash

investing and financing activities:

 

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





$





2,694,389





$





-

      
 

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

ThreeNine Months Ended June 30,December 31,
(Unaudited)

Series 23

 

2018

 

2017

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

562,532

$

3,874,515

$

(27,002)

$

951,455

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

        

Share of (income) from
Operating Partnerships

 


(1,189,317)

 


(4,529,631)

Gain on Disposition
Operating Partnerships


(43,500)


(989,962)

Changes in assets and liabilities

        

(Decrease) Increase in��accounts
payable and accrued expenses

 


57,500

 


(37,382)

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


(11,300)

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(2,401,876)

 


(1,402,150)

 


(419,134)

 


(471,882)

Net cash (used in) provided by
operating activities

 


(2,971,161)

 


(2,105,948)

 


(489,636)

 


(510,389)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


1,189,217

 


4,414,168

 


43,500

 


989,962

Net cash (used in) provided by
investing activities

 


1,189,217

 


4,414,168

 


43,500

 


989,962

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(1,781,944)

 


2,308,220

 


(446,136)

 


479,573

Cash and cash equivalents, beginning

 

27,208,717

 

27,209,997

 

446,136

 

659,167

Cash and cash equivalents, ending

$

25,426,773

$

29,518,217

$

-

$

1,138,740

 

Supplemental schedule of noncash

investing and financing activities:

 

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





$





514,253





$





-

      
 

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement















 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

ThreeNine Months Ended June 30,December 31,
(Unaudited)

Series 2024

 

 

2018

 

2017

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

139,567

$

(10,901)

$

(33,882)

$

(62,114)

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

        

Share of (income) from
Operating Partnerships



(155,337)

 


-

Gain on Disposition
Operating Partnerships

 


(23,678)

 


-

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

 


(2,000)

 


-

Decrease (Increase) in other
assets



-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(135,229)

 


5,535

 


-

 


-

Net cash (used in) provided by
operating activities

 


(150,999)

 


(5,366)



(59,560)

 


(62,114)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


155,337

 


-

 


23,678

 


-

Net cash (used in) provided by
investing activities

 


155,337

 


-

 


23,678

 


-

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


4,338

 


(5,366)

 


(35,882)

 


(62,114)

Cash and cash equivalents, beginning

 

241,987

 

271,060

 

453,512

 

427,181

Cash and cash equivalents, ending

$

246,325

$

265,694

$

417,630

$

365,067

 

Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement
















 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

ThreeNine Months Ended June 30,December 31,
(Unaudited)

Series 2125

 

 

2018

 

2017

 

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

-

$

(8,363)

$

-

$

34,406

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

        

Share of (income) from
Operating Partnerships

 


-

 


-

Gain on Disposition
Operating Partnerships

 


-

 


(97,399)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


1,250

(Decrease) Increase in accounts
payable affiliates

 


-

 


2,719

 


-

 


-

Net cash (used in) provided by
operating activities

 


-

 


(5,644)

 


-

 


(61,743)

Cash flows from investing activities:

    

Capital contributions paid to
Operating Partnerships

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


-

 


-

 


-

 


97,399

Net cash (used in) provided by
investing activities

 


-

 


-

 


-

 


97,399

Cash flows from financing activities:

    

Distributions

 

-

 

(380,117)

Net cash used in
financing activities

 


-

 


(380,117)

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


-

 


(5,644)

 


-

 


(344,461)

Cash and cash equivalents, beginning

 

-

 

241,102

 

-

 

344,461

Cash and cash equivalents, ending

$

-

$

235,458

$

-

$

-

 

Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 26

 

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

(69,952)

$

(14,748)

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

Gain on Disposition 
   Operating Partnerships

 


(10,500)

 


(80,000)

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities


(80,452)


(94,748)

Cash flows from investing activities:

    

Capital contributions paid to 
    Operating Partnerships

 


-

 


-

Proceeds from the disposition of     Operating Partnerships

 


10,500

 


80,000

Net cash (used in) provided by
investing activities

 


10,500

 


80,000

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(69,952)

 


(14,748)

Cash and cash equivalents, beginning

 

642,258

 

677,679

Cash and cash equivalents, ending

$

572,306

$

662,931










Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-

The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

ThreeNine Months Ended June 30,December 31,
(Unaudited)

Series 2227

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

3,811

$

3,213,442

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

    

Gain on Disposition 
   Operating Partnerships

 


-

 


(3,291,567)

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


(31,673)

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


3,811

 


(109,798)

Cash flows from investing activities:

    

Capital contributions paid to 
    Operating Partnerships

 


-

 


-

Proceeds from the disposition of     Operating Partnerships

 


-

 


3,291,567

Net cash (used in) provided by
investing activities

 


-

 


3,291,567

Cash flows from financing activities:

    

Distributions

 

(310,963)

 

-

Net cash used in
financing activities

 


(310,963)

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(307,152)

 


3,181,769

Cash and cash equivalents, beginning

 

6,799,933

 

3,606,473

Cash and cash equivalents, ending

$

6,492,781

$

6,788,242

 

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

(18,239)

$

(13,531)

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

    

Share of (income) from 
   Operating Partnerships

 


-

 


-

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


6,426

 


7,303

Net cash (used in) provided by 
operating activities

 


(11,813)

 


(6,228)

Cash flows from investing activities:

    

Proceeds from the disposition of     Operating Partnerships

 


-

 


-

Net cash (used in) provided by
investing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(11,813)

 


(6,228)

Cash and cash equivalents, beginning

 

221,864

 

252,064

Cash and cash equivalents, ending

$

210,051

$

245,836

Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement















 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

ThreeNine Months Ended June 30,December 31,
(Unaudited)

Series 2328

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

(41,125)

$

(56,401)

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

    

Gain on Disposition 
   Operating Partnerships

 


(8,500)

 


-

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


(49,625)

 


(56,401)

Cash flows from investing activities:

    

Capital contributions paid to 
    Operating Partnerships

 


-

 


-

Proceeds from the disposition of     Operating Partnerships

 


8,500

 


-

Net cash (used in) provided by
investing activities

 


8,500

 


-

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(41,125)

 


(56,401)

Cash and cash equivalents, beginning

 

742,564

 

812,483

Cash and cash equivalents, ending

$

701,439

$

756,082

 

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

(13,825)

$

950,810

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

    

Share of (income) from 
   Operating Partnerships


-


(959,665)

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


5,000

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


(194,444)

 


2,006

Net cash (used in) provided by 
operating activities

 


(208,269)

 


(1,849)

Cash flows from investing activities:

    

Proceeds from the disposition of     Operating Partnerships

 


-

 


959,665

Net cash (used in) provided by
investing activities

 


-

 


959,665

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(208,269)

 


957,816

Cash and cash equivalents, beginning

 

446,136

 

659,167

Cash and cash equivalents, ending

$

237,867

$

1,616,983

Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 29

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

64,364

$

(92,645)

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

    

Gain on Disposition 
   Operating Partnerships

 


(123,094)

 


-

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


(489,986)

 


61,640

Net cash (used in) provided by 
operating activities

 


(548,716)

 


(31,005)

Cash flows from investing activities:

    

Capital contributions paid to 
    Operating Partnerships

 


-

 


-

Proceeds from the disposition of     Operating Partnerships

 


122,994

 


-

Net cash (used in) provided by
investing activities

 


122,994

 


-

Cash flows from financing activities:

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(425,722)

 


(31,005)

Cash and cash equivalents, beginning

 

622,414

 

345,648

Cash and cash equivalents, ending

$

196,692

$

314,643

 











Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

ThreeNine Months Ended June 30,December 31,
(Unaudited)

Series 2430

 

 

2018

 

2017

 

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

(25,328)

$

(18,448)

$

114,811

$

247,358

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

        

Share of (income) from
Operating Partnerships

 


-

 


-

Gain on Disposition
Operating Partnerships


(195,182)


(265,984)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


(5,000)

 


-

 


(3,500)

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


-

 


-

 


(499,568)

 


41,872

Net cash (used in) provided by
operating activities



(30,328)

 


(18,448)

 


(583,439)

 


23,246

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


-

 


-

 


130,006

 


226,021

Net cash (used in) provided by
investing activities

 


-

 


-

 


130,006

 


226,021

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(30,328)

 


(18,448)

 


(453,433)

 


249,267

Cash and cash equivalents, beginning

 

453,512

 

427,181

 

453,433

 

270,126

Cash and cash equivalents, ending

$

423,184

$

408,733

$

-

$

519,393

 

Supplemental schedule of noncash

investing and financing activities:

 

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





$





1,121,389





$





-

      
 

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,
(Unaudited)

Series 25

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

-

$

(12,886)

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

    

Share of (income) from 
   Operating Partnerships

 


-

 


-

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


-

 


(12,886)

Cash flows from investing activities:

Proceeds from the disposition of     Operating Partnerships

 


-

 


-

Net cash (used in) provided by
investing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


-

 


(12,886)

Cash and cash equivalents, beginning

 

-

 

344,461

Cash and cash equivalents, ending

$

-

$

331,575


The accompanying notes are an integral part of this condensed statement













 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

ThreeNine Months Ended June 30,

December 31,
(Unaudited)

Series 2631

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

28,117

$

(53,974)

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

    

Gain on Disposition 
   Operating Partnerships

 


(105,794)

 


(45,000)

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


(77,677)

 


(98,974)

Cash flows from investing activities:

    

Capital contributions paid to 
    Operating Partnerships

 


-

 


-

Proceeds from the disposition of     Operating Partnerships

 


64,500

 


45,000

Net cash provided by
investing activities

 


64,500

 


45,000

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(13,177)

 


(53,974)

Cash and cash equivalents, beginning

 

1,971,680

 

2,047,648

Cash and cash equivalents, ending

$

1,958,503

$

1,993,674

 

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

(25,237)

$

(30,227)

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

    

Share of (income) from 
   Operating Partnerships

 


(10,500)

 


-

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


3,500

 


-

Decrease (Increase) in other
   assets

��


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


(32,237)

 


(30,227)

Cash flows from investing activities:

    

Proceeds from the disposition of     Operating Partnerships

 


10,500

 


-

Net cash (used in) provided by
investing activities

 


10,500

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(21,737)

 


(30,227)

Cash and cash equivalents, beginning

 

642,258

 

677,679

Cash and cash equivalents, ending

$

620,521

$

647,452

Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,
(Unaudited)

Series 27

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

(10,358)

$

3,259,335

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

    

Share of (income) from 
   Operating Partnerships

 


-

 


(3,291,567)

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


(27,796)

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


(10,358)

 


(60,028)

Cash flows from investing activities:

    

Proceeds from the disposition of     Operating Partnerships

 


-

 


3,291,567

Net cash (used in) provided by
investing activities

 


-

 


3,291,567

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(10,358)

 


3,231,539

Cash and cash equivalents, beginning

 

6,799,933

 

3,606,473

Cash and cash equivalents, ending

$

6,789,575

$

6,838,012


The accompanying notes are an integral part of this condensed statement












 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

ThreeNine Months Ended June 30,December 31,
(Unaudited)

Series 2832

 

 

2018

 

2017

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(11,560)

$

(14,558)

$

388,455

$

1,586,646

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

        

Share of (income) from
Operating Partnerships

 


(8,500)

 


-

Gain on Disposition
Operating Partnerships

 


(487,880)

 


(1,677,252)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


3,500

 


-

 


-

 


(2,000)

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


-

 


-

 


(726,205)

 


(1,108,083)

Net cash (used in) provided by
operating activities

 


(16,560)

 


(14,558)

 


(825,630)

 


(1,200,689)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


8,500

 


-

 


487,880

 


1,677,252

Net cash (used in) provided by
investing activities

 


8,500

 


-

Net cash provided by
investing activities

 


487,880

 


1,677,252

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(8,060)

 


(14,558)

 


(337,750)

 


476,563

Cash and cash equivalents, beginning

 

742,564

 

812,483

 

563,697

 

837,185

Cash and cash equivalents, ending

$

734,504

$

797,925

$

225,947

$

1,313,748

 

Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement













 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

ThreeNine Months Ended June 30,

December 31,
(Unaudited)

Series 2933

 

 

2018

 

2017

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

91,970

$

(28,480)

$

(55,411)

$

23,189

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

        

Share of (income) from
Operating Partnerships

 


(123,094)

 


-

Gain on Disposition
Operating Partnerships

 


-

 


(67,454)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


10,500

 


-

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(281,514)

 


20,546

 


(166,986)

 


48,449

Net cash (used in) provided by
operating activities

 


(302,138)

 


(7,934)

 


(222,397)

 


4,184

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


122,994

 


-

 


-

 


950

Net cash (used in) provided by
investing activities

 


122,994

 


-

 


-

 


950

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(179,144)

 


(7,934)

 


(222,397)

 


5,134

Cash and cash equivalents, beginning

 

622,414

 

345,648

 

452,033

 

337,765

Cash and cash equivalents, ending

$

443,270

$

337,714

$

229,636

$

342,899

 

Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,
(Unaudited)

Series 30

  

2018

 

2017

Cash flows from operating activities:

Net income (loss)

$

4,077

$

289,654

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

    

Share of (income) from 
   Operating Partnerships


(24,006)


(263,893)

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


10,500

 


3,000

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


(150,192)

 


16,654

Net cash (used in) provided by 
operating activities

 


(159,621)

 


45,415

Cash flows from investing activities:

    

Proceeds from the disposition of     Operating Partnerships

 


24,006

 


148,430

Net cash (used in) provided by
investing activities

 


24,006

 


148,430

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(135,615)

 


193,845

Cash and cash equivalents, beginning

 

453,433

 

270,126

Cash and cash equivalents, ending

$

317,818

$

463,971


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,
(Unaudited)

Series 31

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

(24,773)

$

(28,416)

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

    

Share of (income) from 
   Operating Partnerships

 


(7,500)

 


-

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


3,500

 


-

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


(28,773)

 


(28,416)

Cash flows from investing activities:

    

Proceeds from the disposition of     Operating Partnerships

 


7,500

 


-

Net cash provided by
investing activities

 


7,500

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(21,273)

 


(28,416)

Cash and cash equivalents, beginning

 

1,971,680

 

2,047,648

Cash and cash equivalents, ending

$

1,950,407

$

2,019,232


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

ThreeNine Months Ended June 30,December 31,
(Unaudited)

Series 3234

 

 

2018

 

2017

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

449,363

$

(13,457)

$

(58,853)

$

(62,324)

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

        

Share of (income) from
Operating Partnerships

 


(487,880)

 


(14,506)

Gain on Disposition
Operating Partnerships

 


-

 


-

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


5,000

 


-

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(665,793)

 


(22,530)

 


(112,903)

 


(393,594)

Net cash (used in) provided by
operating activities

 


(699,310)

 


(50,493)

 


(171,756)

 


(455,918)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


487,880

 


14,506

 


-

 


-

Net cash provided by
investing activities

 


487,880

 


14,506

Net cash (used in) provided by
investing activities

 


-

 


-

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(211,430)

 


(35,987)

 


(171,756)

 


(455,918)

Cash and cash equivalents, beginning

 

563,697

 

837,185

 

394,837

 

849,078

Cash and cash equivalents, ending

$

352,267

$

801,198

$

223,081

$

393,160

 

Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

ThreeNine Months Ended June 30,December 31,
(Unaudited)

Series 3335

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

(27,398)

$

2,593,894

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

    

Gain on Disposition 
   Operating Partnerships

 


-

 


(2,653,528)

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


(551,982)

Net cash (used in) provided by 
operating activities

 


(27,398)

 


(611,616)

Cash flows from investing activities:

    

Capital contributions paid to 
    Operating Partnerships

 


-

 


-

Proceeds from the disposition of     Operating Partnerships

 

 


-

 


2,653,528

Net cash (used in) provided by
investing activities

 


-

 


2,653,528

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(27,398)

 


2,041,912

Cash and cash equivalents, beginning

 

4,428,306

 

2,392,767

Cash and cash equivalents, ending

$

4,400,908

$

4,434,679

 

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

(27,422)

$

(16,649)

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

    

Share of (income) from 
   Operating Partnerships

 


-

 


-

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


(93,622)

 


16,398

Net cash (used in) provided by 
operating activities

 


(121,044)

 


(251)

Cash flows from investing activities:

    

Proceeds from the disposition of     Operating Partnerships

 


-

 


-

Net cash (used in) provided by
investing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(121,044)

 


(251)

Cash and cash equivalents, beginning

 

452,033

 

337,765

Cash and cash equivalents, ending

$

330,989

$

337,514

Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 36

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

180,555

$

(41,191)

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

    

Gain on Disposition 
   Operating Partnerships

 


(253,104)

 


-

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


570,319

 


-

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


(767,505)

Net cash (used in) provided by 
operating activities

 

497,770

 


(808,696)

Cash flows from investing activities:

    

Capital contributions paid to 
    Operating Partnerships

 


-

 


-

Proceeds from the disposition of     Operating Partnerships

 


253,104

 


-

Net cash (used in) provided by
investing activities

 


253,104

 


-

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


750,874

 


(808,696)

Cash and cash equivalents, beginning

 

2,106,050

 

2,934,317

Cash and cash equivalents, ending

$

2,856,924

$

2,125,621

 

Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 37

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

1,015,799

$

104,304

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

    

Gain on Disposition 
   Operating Partnerships

 


(1,062,375)

 


(140,415)

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


(513,149)

 


(1,538,773)

Net cash (used in) provided by 
operating activities

 


(559,725)

 


(1,574,884)

Cash flows from investing activities:

    

Capital contributions paid to 
    Operating Partnerships

 


-

 


-

Proceeds from the disposition of     Operating Partnerships

 


1,062,375

 


1,977

Net cash (used in) provided by
investing activities

 


1,062,375

 


1,977

Cash flows from financing activities:

    

Distributions

 

(1,020,537)

 

-

Net cash used in
financing activities

 


(1,020,537)

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(517,887)

 


(1,572,907)

Cash and cash equivalents, beginning

 

517,887

 

2,096,039

Cash and cash equivalents, ending

$

-

$

523,132

Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 38

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

12,660

$

(51,326)

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

    

Gain on Disposition 
   Operating Partnerships

 


(7,000)

 


-

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


(6,543)

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


(18,234)

 


(1,515,985)

Net cash (used in) provided by 
operating activities

 


(12,574)

 


(1,573,854)

Cash flows from investing activities:

    

Capital contributions paid to 
    Operating Partnerships

 


-

 


-

Proceeds from the disposition of     Operating Partnerships

 


7,000

 


-

Net cash (used in) provided by
investing activities

 


7,000

 


-

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(5,574)

 


(1,573,854)

Cash and cash equivalents, beginning

 

1,492,145

 

3,042,864

Cash and cash equivalents, ending

$

1,486,571

$

1,469,010

Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-

 

The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 39

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

-

$

(48,069)

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

    

Gain on Disposition 
   Operating Partnerships

 


-

 


(17,779)

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


(6,543)

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


(1,154,240)

Net cash (used in) provided by 
operating activities

 


-

 


(1,226,631)

Cash flows from investing activities:

    

Capital contributions paid to 
    Operating Partnerships

 


-

 


-

Proceeds from the disposition of     Operating Partnerships

 


-

 


17,779

Net cash (used in) provided by
investing activities

 


-

 


17,779

Cash flows from financing activities:

    

Distributions

 

-

 

(40,046)

Net cash used in
financing activities

 


-

 


(40,046)

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


-

 


(1,248,898)

Cash and cash equivalents, beginning

 

-

 

1,248,898

Cash and cash equivalents, ending

$

-

$

-

 







Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

ThreeNine Months Ended June 30,December 31,
(Unaudited)

Series 3440

 

 

2018

 

2017

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(25,359)

$

(19,695)

$

(53,608)

$

485,584

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

    

Share of (income) from
Operating Partnerships

 


-

 


-

Gain on Disposition
Operating Partnerships

 


(44,500)

 


(588,952)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(87,634)

 


(230,134)

 


(148,422)

 


(8,631)

Net cash (used in) provided by
operating activities

 


(112,993)

 


(249,829)

 


(246,530)

 


(111,999)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


-

 


-

 


44,500

 


588,952

-

-

Net cash (used in) provided by
investing activities

 


-

 


-

 


44,500

 


588,952

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(112,993)

 


(249,829)

 


(202,030)

 


476,953

Cash and cash equivalents, beginning

 

394,837

 

849,078

 

431,341

 

248,318

Cash and cash equivalents, ending

$

281,844

$

599,249

$

229,311

$

725,271

 

Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement













 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

ThreeNine Months Ended June 30,December 31,
(Unaudited)

Series 3541

 

 

2018

 

2017

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(16,570)

$

(23,504)

$

(77,399)

$

616,699

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

        

Share of (income) from
Operating Partnerships

 


-

 


-

Gain on Disposition
Operating Partnerships

 


(14,000)

 


(782,887)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

 


-

 


(2,500)

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


1,218

(Decrease) Increase in accounts
payable affiliates

 


-

 


(391,519)

 


(414,074)

 


84,650

Net cash (used in) provided by
operating activities

 


(16,570)

 


(415,023)

 


(505,473)

 


(82,820)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 

 


-

 


-

 


14,000

 


782,887

Net cash (used in) provided by
investing activities

 


-

 


-

 


14,000

 


782,887

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(16,570)

 


(415,023)

 


(491,473)

 


700,067

Cash and cash equivalents, beginning

 

4,428,306

 

2,392,767

 

741,152

 

322,902

Cash and cash equivalents, ending

$

4,411,736

$

1,977,744

$

249,679

$

1,022,969

 

Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 42

 

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

(8,892)

$

135,238

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

    

Gain on Disposition 
   Operating Partnerships

 


(54,322)

 


(262,279)

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


1,500

 


1,000

Decrease (Increase) in other
   assets

 


-

 


(1,183)

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


(61,714)

 


(127,224)

Cash flows from investing activities:

    

Capital contributions paid to 
    Operating Partnerships

 


-

 


(9,503)

Proceeds from the disposition of     Operating Partnerships

 


54,322

 


262,279

Net cash (used in) provided by
investing activities

 


54,322

 


252,776

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(7,392)

 


125,552

Cash and cash equivalents, beginning

 

1,327,017

 

1,072,528

Cash and cash equivalents, ending

$

1,319,625

$

1,198,080

 

Supplemental schedule of noncash

investing and financing activities:

 

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





$





-





$





-

      
 

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




$




-




$




63,676













The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

ThreeNine Months Ended June 30,December 31,
(Unaudited)

Series 3643

 

 

2018

 

2017

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(43,526)

$

(8,882)

$

8,023

$

80,998

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

        

Share of (income) from
Operating Partnerships

 


-

 


-

Gain on Disposition
Operating Partnerships

 


(75,520)

 


(225,500)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

 


363,500

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


-

 


(614,874)

 


(430,490)

 


170,998

Net cash (used in) provided by
operating activities

 


(43,526)

 


(623,756)

 


(134,487)

 


26,496

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


(9,508)

Proceeds from the disposition of Operating Partnerships

 


-

 


-

 


49,438

 


225,500

Net cash (used in) provided by
investing activities

 


-

 


-

 


49,438

 


215,992

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(43,526)

 


(623,756)

 


(85,049)

 


242,488

Cash and cash equivalents, beginning

 

2,106,050

 

2,934,317

 

854,364

 

351,638

Cash and cash equivalents, ending

$

2,062,524

$

2,310,561

$

769,315

$

594,126

 

Supplemental schedule of noncash

investing and financing activities:

 

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





$





-





$





-

      
 

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




$




-




$




63,675


The accompanying notes are an integral part of this condensed statement














 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

ThreeNine Months Ended June 30,December 31,
(Unaudited)

Series 3744

 

 

2018

 

2017

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

7,558

$

947

$

(159,974)

$

(166,421)

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

        

Share of (income) from
Operating Partnerships

 


-

 


-

Gain on Disposition
Operating Partnerships

 


-

 


-

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


-

 


-

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(189,816)

 


(34,910)

 


185,889

 


184,956

Net cash (used in) provided by
operating activities

 


(182,258)

 


(33,963)

 


25,915

 


18,535

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


-

 


-

 


-

 


-

Net cash (used in) provided by
investing activities

 


-

 


-

 


-

 


-

Cash flows from financing activities:

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(182,258)

 


(33,963)

 


25,915

 


18,535

Cash and cash equivalents, beginning

 

517,887

 

2,096,039

 

84,006

 

66,324

Cash and cash equivalents, ending

$

335,629

$

2,062,076

$

109,921

$

84,859

 

Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

ThreeNine Months Ended June 30,December 31,
(Unaudited)


Series 3845

 

 

2018

 

2017

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

7,113

$

(24,830)

$

154,699

$

(231,767)

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

        

Share of (income) from
Operating Partnerships

 


(7,000)

 


-

Gain on Disposition
Operating Partnerships

 


(342,500)

 


-

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 


3,500

 


(6,543)

 


57,600

 


-

Decrease (Increase) in other
assets

 


-

 


-

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


(18,234)

 


11,134

 


(37,346)

 


156,418

Net cash (used in) provided by
operating activities

 


(14,621)

 


(20,239)

 


(167,547)

 


(75,349)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


7,000

 


-

 


342,500

 


-

Net cash (used in) provided by
investing activities

 


7,000

 


-

 


342,500

 


-

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(7,621)

 


(20,239)

 


174,953

 


(75,349)

Cash and cash equivalents, beginning

 

1,492,145

 

3,042,864

 

753,702

 

803,153

Cash and cash equivalents, ending

$

1,484,524

$

3,022,625

$

928,655

$

727,804

 

Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,
(Unaudited)

Series 39

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

-

$

(8,311)

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

    

Share of (income) from 
   Operating Partnerships

 


-

 


-

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


(6,543)

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


(340,846)

Net cash (used in) provided by 
operating activities

 


-

 


(355,700)

Cash flows from investing activities:

    

Proceeds from the disposition of     Operating Partnerships

 


-

 


-

Net cash (used in) provided by
investing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


-

 


(355,700)

Cash and cash equivalents, beginning

 

-

 

1,248,898

Cash and cash equivalents, ending

$

-

$

893,198


The accompanying notes are an integral part of this condensed statement













 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

ThreeNine Months Ended June 30,
(Unaudited)

Series 40

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

(41,739)

$

(36,691)

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

Share of (income) from 
   Operating Partnerships

 


-

 


-

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


(123,406)

 


(19,234)

Net cash (used in) provided by 
operating activities

 


(165,145)

 


(55,925)

Cash flows from investing activities:

    

Proceeds from the disposition of     Operating Partnerships

 


-

 


-

-

-

Net cash (used in) provided by
investing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(165,145)

 


(55,925)

Cash and cash equivalents, beginning

 

431,341

 

248,318

Cash and cash equivalents, ending

$

266,196

$

192,393


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,
(Unaudited)

Series 41

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

7,630

$

(51,239)

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

    

Share of (income) from 
   Operating Partnerships

 


(14,000)

 


-

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


9,000

 


(4,500)

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


(355,168)

 


(17,061)

Net cash (used in) provided by 
operating activities

 


(352,538)

 


(72,800)

Cash flows from investing activities:

    

Proceeds from the disposition of     Operating Partnerships

 


14,000

 


-

Net cash (used in) provided by
investing activities

 


14,000

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(338,538)

 


(72,800)

Cash and cash equivalents, beginning

 

741,152

 

322,902

Cash and cash equivalents, ending

$

402,614

$

250,102


The accompanying notes are an integral part of this condensed statement


Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,
(Unaudited)

Series 42

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

(31,463)

$

(50,283)

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

    

Share of (income) from 
   Operating Partnerships

 


-

 


-

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

Decrease (Increase) in other
   assets

 


-

 


(11,300)

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


(31,463)

 


(61,583)

Cash flows from investing activities:

    

Proceeds from the disposition of     Operating Partnerships

 


-

 


-

Net cash (used in) provided by
investing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(31,463)

 


(61,583)

Cash and cash equivalents, beginning

 

1,327,017

 

1,072,528

Cash and cash equivalents, ending

$

1,295,554

$

1,010,945


The accompanying notes are an integral part of this condensed statement


Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,
(Unaudited)

Series 43

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

7,320

$

(20,735)

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

    

Share of (income) from 
   Operating Partnerships

 


(9,000)

 


-

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


6,000

 


-

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


(295,671)

 


57,693

Net cash (used in) provided by 
operating activities

 


(291,351)

 


36,958

Cash flows from investing activities:

    

Proceeds from the disposition of     Operating Partnerships

 


9,000

 


-

Net cash (used in) provided by
investing activities

 


9,000

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(282,351)

 


36,958

Cash and cash equivalents, beginning

 

854,364

 

351,638

Cash and cash equivalents, ending

$

572,013

$

388,596

The accompanying notes are an integral part of this condensed statement













Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,
(Unaudited)

Series 44

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

(59,859)

$

(64,630)

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

    

Share of (income) from 
   Operating Partnerships

 


-

 


-

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


60,098

 


60,971

Net cash (used in) provided by 
operating activities

 


239

 


(3,659)

Cash flows from investing activities:

    

Proceeds from the disposition of     Operating Partnerships

 


-

 


-

Net cash (used in) provided by
investing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


239

 


(3,659)

Cash and cash equivalents, beginning

 

84,006

 

66,324

Cash and cash equivalents, ending

$

84,245

$

62,665


The accompanying notes are an integral part of this condensed statement















Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,
(Unaudited)


Series 45

  

2018

 

2017

Cash flows from operating activities:

    

Net income (loss)

$

278,641

$

(60,559)

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

    

Share of (income) from 
   Operating Partnerships

 


(342,500)

 


-

Changes in assets and liabilities

    

(Decrease) Increase in accounts
   payable and accrued expenses

 


7,500

 


-

Decrease (Increase) in other
   assets

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


70,024

 


15,700

Net cash (used in) provided by 
operating activities

 


13,665

 


(44,859)

Cash flows from investing activities:

    

Proceeds from the disposition of     Operating Partnerships

 


342,500

 


-

Net cash (used in) provided by
investing activities

 


342,500

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


356,165

 


(44,859)

Cash and cash equivalents, beginning

 

753,702

 

803,153

Cash and cash equivalents, ending

$

1,109,867

$

758,294


The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,December 31,
(Unaudited)


Series 46

 

 

2018

 

2017

 

2018

 

2017

Cash flows from operating activities:

        

Net income (loss)

$

(55,449)

$

(60,956)

$

(143,774)

$

(129,945)

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

        

Share of (income) from
Operating Partnerships

 


-

 


-

Gain on Disposition
Operating Partnerships

 


-

 


(10,994)

Changes in assets and liabilities

        

(Decrease) Increase in accounts
payable and accrued expenses

 

 


-

 


-

 

 


-

 


-

Decrease (Increase) in other
�� assets

 


-

 


-

Decrease (Increase) in other
assets

 


-

 


-

(Decrease) Increase in accounts
payable affiliates

 


52,299

 


52,299

 


(23,103)

 


(6,325)

Net cash (used in) provided by
operating activities

 


(3,150)

 


(8,657)

 


(166,877)

 


(147,264)

Cash flows from investing activities:

        

Capital contributions paid to
Operating Partnerships

 


-

 


-

Proceeds from the disposition of Operating Partnerships

 


-

 


-

 


-

 


10,994

Net cash (used in) provided by
investing activities

 


-

 


-

 


-

 


10,994

Cash flows from financing activities:

    

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

-

-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(3,150)

 


(8,657)

 


(166,877)

 


(136,270)

Cash and cash equivalents, beginning

 

466,399

 

651,129

 

466,399

 

651,129

Cash and cash equivalents, ending

$

463,249

$

642,472

$

299,522

$

514,859

 

Supplemental schedule of noncash

investing and financing activities:

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





$





-





$





-

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




$




-




$




-


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS
June 30,December 31, 2018
(Unaudited)

NOTE A - ORGANIZATION

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

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

 

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

Series

Closing Date

BACs Sold

Equity Raised

Series 20

June 24, 1994

3,866,700

$38,667,000

Series 21

December 31, 1994

1,892,700

$18,927,000

Series 22

December 28, 1994

2,564,400

$25,644,000

Series 23

June 23, 1995

3,336,727

$33,366,000

Series 24

September 22, 1995

2,169,878

$21,697,000

Series 25

December 29, 1995

3,026,109

$30,248,000

Series 26

June 25, 1996

3,995,900

$39,959,000

Series 27

September 17, 1996

2,460,700

$24,607,000

Series 28

January 29, 1997

4,000,738

$39,999,000

 

Boston Capital Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(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 June 30,December 31, 2018 and for the three and nine months then ended have been prepared by the Fund, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. The Fund accounts for its investments in Operating Partnerships using the equity method, whereby the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. Costs incurred by the Fund in acquiring the investments in the Operating Partnerships are capitalized to the investment account.

The Fund's accounting and financial reporting policies are in conformity with generally accepted accounting principles and include adjustments in interim periods considered necessary for a fair presentation of the results of operations. Such adjustments are of a normal recurring nature. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to these rules and regulations. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Fund's Annual Report on Form 10-K for the fiscal year ended March 31, 2018.

 

 

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

NOTE C - RELATED PARTY TRANSACTIONS

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

An annual fund management fee of .5 percent of the aggregate cost of all apartment complexes owned by the Operating Partnerships has been accrued to Boston Capital Asset Management Limited Partnership. Since reporting fees collected by the various series were added to reserves and not paid to Boston Capital Asset Management Limited Partnership, the amounts accrued are not net of reporting fees received. The fund management fees accrued for the quarters ended June 30,December 31, 2018 and 2017, are as follows:

 

2018

2017

2018

2017

Series 20

$  2,771

$  5,535

$  2,549

$  5,536

Series 21

-

2,719

-

2,216

Series 22

6,426

7,303

6,426

7,303

Series 23

5,556

5,556

5,556

5,556

Series 24

10,761

12,588

10,761

12,588

Series 25

-

5,934

-

-

Series 26

15,609

22,545

13,938

15,609

Series 27

7,635

14,968

7,635

8,915

Series 28

8,844

8,844

7,296

8,844

Series 29

15,093

20,546

7,261

20,547

Series 30

10,829

16,654

5,668

12,609

Series 31

19,092

21,699

16,065

19,092

Series 32

22,087

26,370

19,794

23,234

Series 33

13,318

16,398

13,318

15,654

Series 34

12,366

12,366

12,365

12,365

Series 35

10,653

17,481

10,653

10,653

Series 36

7,626

7,626

5,172

7,626

Series 37

10,184

12,501

-

10,957

Series 38

18,234

18,234

16,581

18,234

Series 39

-

1,709

-

1,712

Series 40

26,594

29,766

23,390

26,594

Series 41

38,704

53,439

34,076

49,564

Series 42

29,334

42,870

23,847

40,788

Series 43

45,635

57,693

45,090

55,612

Series 44

57,825

57,826

57,826

57,825

Series 45

70,024

70,359

67,565

70,359

Series 46

 52,299

 52,299

 52,299

 52,299

$517,499

$621,828

$465,131

$572,291

    

 

 

 

 

 

 

 

 

 

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

NOTE C - RELATED PARTY TRANSACTIONS (continued)

The fund management fees paid for the threenine months ended June 30,December 31, 2018 and 2017 are as follows:

2018

2017

2018

2017

Series 20

    $  138,000

    $        -

    $  378,835

    $        -

Series 21

    -

      258,000

Series 22

202,998

-

Series 23

200,000

3,550

      435,802

488,550

Series 24

10,761

12,588

32,283

37,764

Series 25

-

5,934

-

11,374

Series 26

15,609

22,545

43,485

60,699

Series 27

7,635

14,968

22,905

33,438

Series 28

8,844

23,436

26,532

Series 29

296,607

-

519,601

-

Series 30

161,021

-

523,527

-

Series 31

19,092

21,699

51,692

62,490

Series 32

687,880

48,900

787,880

1,184,057

Series 33

106,940

-

206,940

-

Series 34

100,000

242,500

150,000

430,691

Series 35

10,653

409,000

31,959

597,597

Series 36

7,626

622,500

18,788

790,383

Series 37

200,000

47,411

526,729

1,574,732

Series 38

36,468

7,100

69,630

1,570,687

Series 39

-

122,100

-

938,915

Series 40

150,000

49,000

225,000

93,700

Series 41

393,872

70,500

520,930

70,500

Series 42

 29,334

 42,870

80,686

126,528

Series 43

  341,306

        -

566,306

-

Series 45

242,500

-

Series 46

  180,000

  163,222

$2,921,648

$1,752,009

$5,841,912

$8,519,859

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS

At June 30,December 31, 2018 and 2017, the Fund has limited partnership interests in 156132 and 205179 Operating Partnerships, respectively, which own or are constructing apartment complexes.

The breakdown of Operating Partnerships within the Fund at June 30,December 31, 2018 and 2017 are as follows:

2018

2017

2018

2017

Series 20

1

3

-

2

Series 21

-

2

-

Series 22

3

-

3

Series 23

3

-

3

Series 24

5

6

4

6

Series 25

-

4

-

Series 26

8

13

8

9

Series 27

3

4

3

Series 28

4

5

4

5

Series 29

5

8

5

8

Series 30

3

6

-

6

Series 31

7

10

1

8

Series 32

5

7

5

6

Series 33

3

5

3

4

Series 34

4

4

Series 35

2

3

2

Series 36

3

2

3

Series 37

1

2

-

1

Series 38

3

4

3

4

Series 39

-

1

-

Series 40

9

10

8

9

Series 41

11

17

11

14

Series 42

11

15

9

13

Series 43

16

19

14

18

Series 44

7

7

Series 45

25

27

25

27

Series 46

 14

 14

156

205

132

179

 

Under the terms of the Fund's investment in each Operating Partnership, the Fund is required to make capital contributions to the Operating Partnerships. These contributions are payable in installments over several years upon each Operating Partnership achieving specified levels of construction and/or operations. The contributions payable at June 30,December 31, 2018 and 2017, are as follows:

2018

2017

2018

2017

Series 29

$    785

$  8,235

$    785

$  8,235

Series 30

65,176

-

65,176

Series 31

66,294

25,000

66,294

Series 32

1,229

1,229

Series 33

-

69,154

-

2,650

Series 37

-

138,438

Series 40

102

102

Series 41

-

100

-

100

Series 42

254

73,433

254

Series 43

26,082

99,265

-

26,082

Series 45

 16,724

 16,724

$176,646

$538,150

$44,094

$186,846

 

Boston Capital Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

 

During the threenine months ended June 30,December 31, 2018 the Fund disposed of thirteenthirty-seven Operating Partnerships. A summary of the dispositions by Series for June 30,December 31, 2018 is as follows:

 

Operating Partnership Interest Transferred

 

Sale of Underlying Operating Partnership

 

Fund Proceeds from Disposition *

 

Gain on Disposition

Operating Partnership Interest Transferred

 

Sale of Underlying Operating Partnership

 

Fund Proceeds from Disposition *

 

Gain on Disposition

Series 20

1

-

$

155,337

$

155,337

2

-

$

197,337

$

197,337

Series 22

3

 

-

 

38,000

 

38,000

Series 23

3

 

-

 

43,500

 

43,500

Series 24

1

 

-

 

23,678

 

23,678

Series 26

1

 

-

 

10,500

 

10,500

1

 

-

 

10,500

 

10,500

Series 28

1

 

-

 

8,500

 

8,500

1

 

-

 

8,500

 

8,500

Series 29

2

 

-

 

122,994

 

123,094

2

 

-

 

122,994

 

123,094

Series 30

2

 

-

 

24,006

 

24,006

5

 

-

 

130,006

 

195,182

Series 31

1

 

-

 

7,500

 

7,500

7

 

-

 

64,500

 

105,794

Series 32

-

 

1

 

487,880

 

487,880

-

 

1

 

487,880

 

487,880

Series 36

-

 

1

 

253,104

 

253,104

Series 37

-

 

1

 

1,062,375

 

1,062,375

Series 38

1

 

-

 

7,000

 

7,000

1

 

-

 

7,000

 

7,000

Series 40

1

 

-

 

44,500

 

44,500

Series 41

-

 

1

 

14,000

 

14,000

-

 

1

 

14,000

 

14,000

Series 42

2

 

-

 

54,322

 

54,322

Series 43

1

 

-

 

9,000

 

9,000

3

 

-

 

49,438

 

75,520

Series 45

1

 

-

 

342,500

 

342,500

1

 

-

 

342,500

 

342,500

Total

11

 

2

 

$

1,189,217

 

$

1,189,317

33

 

4

 

$

2,954,134

 

$

3,086,786

* Fund proceeds from disposition does not include $100, $65,176, $41,294 and $26,082, which was due to a writeoff of capital contribution payable as of June 30,December 31, 2018, for Series 29.29, Series 30, Series 31 and Series 43, respectively.

 

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

 




 

 

 

 

 

 

 

 

 

 


Boston Capital Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

 

During the threenine months ended June 30,December 31, 2017 the Fund disposed of fourthirty Operating Partnerships. A summary of the dispositions by Series for June 30,December 31, 2017 is as follows:

 

Operating Partnership Interest Transferred

 

Sale of Underlying Operating Partnership

 

Fund Proceeds from Disposition *

 

Gain on Disposition

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

$

959,665

$

959,665

-

1

989,962

989,962

Series 25

4

 

-

 

97,399

 

97,399

Series 26

4

 

-

 

80,000

 

80,000

Series 27

-

 

1

 

3,291,567

 

3,291,567

1

 

1

 

3,291,567

 

3,291,567

Series 30

1

 

1

 

148,430

 

263,893

1

 

1

 

226,021

 

265,984

Series 31

2

 

-

 

45,000

 

45,000

Series 32

-

 

-

 

14,506

 

14,506

-

 

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

1

 

3

 

$

4,414,168

 

$

4,529,631

26

 

4

 

$

11,061,047

 

$

11,305,952

 

* Fund proceeds from disposition does not include $75,500 recorded as a receivable, as well as $39,963, $66,504 and $138,438 which was due to a writeoff of capital contribution payable as of June 30,December 31, 2017, for Series 30.30, Series 33 and Series 37, respectively.

 

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






 

 







Boston Capital Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

 

The Fund's fiscal year ends March 31st for each year, while all the Operating Partnerships' fiscal years are the calendar year. Pursuant to the provisions of each Operating Partnership Agreement, financial results for each of the Operating Partnerships are provided to the Fund within 45 days after the close of each Operating Partnership's quarterly period. Accordingly, the current financial results available for the Operating Partnerships are for the threenine months ended March 31,September 30, 2018.

 

 

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

2018

2017

2018

2017

     

Revenues

Revenues

  

Revenues

  

Rental

$  11,545,111

$  14,029,090

Rental

$  30,464,104

$  39,192,976

Interest and other

     360,002

     446,491

Interest and other

     867,967

   1,235,063

  11,905,113

  14,475,581

  31,332,071

  40,428,039

     

Expenses

Expenses

  

Expenses

  

Interest

1,886,045

2,382,891

Interest

5,133,584

6,754,119

Depreciation and amortization

3,000,974

3,780,719

Depreciation and amortization

7,690,864

10,698,194

Operating expenses

   8,355,030

  10,381,532

Operating expenses

  21,606,132

  28,924,546

  13,242,049

  16,545,142

  34,430,580

  46,376,859

     

NET LOSS

NET LOSS

$ (1,336,936)

$ (2,069,561)

NET LOSS

$ (3,098,509)

$ (5,948,820)

     

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


$ (1,323,567)


$ (2,048,864)

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

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


$ (3,067,524)


$ (5,889,331)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$    (13,369)


$    (20,697)

Net loss allocated to other
Partners


$    (30,985)


$    (59,489)

 

* Amounts include $(1,323,567) and $(2,048,864) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 20

 

 

 

2018

2017

Revenues

  
 

Rental

$    69,740

$   133,471

 

Interest and other

     4,960

     8,457

 

    74,700

   141,928

   

Expenses

  
 

Interest

5,866

12,868

 

Depreciation and amortization

14,208

36,093

 

Operating expenses

    62,258

   117,558

 

    82,332

   166,519

   

NET LOSS

$   (7,632)

$  (24,591)

   

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


$   (7,556)


$  (24,345)

   

Net loss allocated to other
Partners


$      (76)


$     (246)

2018

2017

Revenues

Rental

$         -

$   352,045

Interest and other

         -

    24,048

         -

   376,093

Expenses

Interest

-

32,617

Depreciation and amortization

-

91,765

Operating expenses

         -

   315,661

         -

   440,043

NET LOSS

$         -

$  (63,950)

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


$         -


$  (63,310)

Net loss allocated to other
Partners


$         -


$     (640)

 

* Amounts include $(7,556) and $(24,345) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 21

 

 

 

2018

2017

Revenues

  
 

Rental

$         -

$         123,389-

 

Interest and other

         -

         860-

 

         -

         124,249-

   

Expenses

  
 

Interest

-

9,916-

 

Depreciation and amortization

-

20,720-

 

Operating expenses

         -

         98,300-

 

         -

         128,936-

   

NET LOSS

$         -

$         (4,687)-

   

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


$         -


$         (4,640)-

   

Net loss allocated to other
Partners


$         -


$         (47)-

 

* Amounts include $- and $(4,640) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 22


 

2018

2017

Revenues

  
 

Rental

$   127,504

$   127,528

 

Interest and other

     3,212

     4,554

 

   130,716

   132,082

   

Expenses

  
 

Interest

10,877

11,342

 

Depreciation and amortization

27,270

27,089

 

Operating expenses

   107,889

   136,469

 

   146,036

   174,900

   

NET LOSS

$  (15,320)

$  (42,818)

   

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


$  (15,167)


$  (42,390)

   

Net loss allocated to other
Partners


$     (153)


$     (428)

2018

2017

Revenues

Rental

$         -

$   382,584

Interest and other

         -

    13,663

         -

   396,247

Expenses

Interest

-

34,025

Depreciation and amortization

-

103,504

Operating expenses

         -

   311,606

         -

   449,135

NET LOSS

$         -

$  (52,888)

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


$         -


$  (52,359)

Net loss allocated to other
Partners


$         -


$     (529)

 

* Amounts include $(15,167) and $(42,390) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 23


 

2018

2017

Revenues

  
 

Rental

$   102,185

$   105,624

 

Interest and other

     4,210

    5,298

 

   106,395

   110,922

   

Expenses

  
 

Interest

7,445

6,020

 

Depreciation and amortization

22,548

22,449

 

Operating expenses

    84,644

    87,804

 

   114,637

   116,273

   

NET LOSS

$   (8,242)

$   (5,351)

   

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


$   (8,160)


$   (5,297)

   

Net loss allocated to other
Partners


$      (82)


$      (54)

2018

2017

Revenues

Rental

$         -

$   316,873

Interest and other

         -

   15,894

         -

   332,767

Expenses

Interest

-

18,061

Depreciation and amortization

-

67,348

Operating expenses

         -

   263,411

         -

   348,820

NET LOSS

$         -

$  (16,053)

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


$         -


$  (15,892)

Net loss allocated to other
Partners


$         -


$     (161)

 

* Amounts include $(8,160) and $(5,297) for 2018 and 2017, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 24


2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$   214,201

$   256,294

Rental

$   633,339

$   768,883

Interest and other

     6,867

     5,121

Interest and other

    20,560

    15,362

   221,068

   261,415

   653,899

   784,245

     

Expenses

Expenses

  

Expenses

  

Interest

17,395

22,563

Interest

51,588

67,689

Depreciation and amortization

60,969

70,348

Depreciation and amortization

178,656

211,044

Operating expenses

   171,220

   206,766

Operating expenses

   509,233

   620,298

   249,584

   299,677

   739,477

   899,031

     

NET LOSS

NET LOSS

$  (28,516)

$  (38,262)

NET LOSS

$  (85,578)

$ (114,786)

     

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


$  (28,231)


$  (37,879)

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

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


$  (84,722)


$ (113,638)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$     (285)


$     (383)

Net loss allocated to other
Partners


$     (856)


$   (1,148)

 

* Amounts include $(28,231) and $(37,879) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 25


2018

2017

Revenues

 

Rental

$         -

$         214,392-

 

Interest and other

         -

         5,238-

 

         -

         219,630-

   

Expenses

  
 

Interest

-

20,184-

 

Depreciation and amortization

-

44,177-

 

Operating expenses

         -

         164,759-

 

         -

         229,120-

   

NET LOSS

$         -

$         (9,490)-

   

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


$         -


$         (9,395)-

   

Net loss allocated to other
Partners


$         -


$         (95)-

 

* Amounts include $- and $(9,395) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 26


2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$   318,677

$   543,233

Rental

$   956,030

$ 1,258,324

Interest and other

     3,828

    14,389

Interest and other

    11,483

    22,706

   322,505

   557,622

   967,513

 1,281,030

     

Expenses

Expenses

  

Expenses

  

Interest

55,837

76,663

Interest

167,510

208,522

Depreciation and amortization

77,703

143,109

Depreciation and amortization

233,109

321,930

Operating expenses

   268,413

   462,402

Operating expenses

   805,239

 1,099,558

   401,953

   682,174

 1,205,858

 1,630,010

     

NET LOSS

NET LOSS

$ (79,448)

$ (124,552)

NET LOSS

$ (238,345)

$ (348,980)

     

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


$ (78,654)


$ (123,306)

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

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


$ (235,962)


$ (345,490)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$    (794)


$   (1,246)

Net loss allocated to other
Partners


$   (2,383)


$   (3,490)

 

* Amounts include $(78,654) and $(123,306) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 27


2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$   165,151

$   201,149

Rental

$   495,454

$   563,566

Interest and other

     3,247

     2,811

Interest and other

     9,742

     7,923

   168,398

   203,960

   505,196

   571,489

     

Expenses

Expenses

  

Expenses

  

Interest

8,310

11,753

Interest

24,930

32,644

Depreciation and amortization

44,462

60,321

Depreciation and amortization

133,387

165,370

Operating expenses

   137,679

   164,799

Operating expenses

   413,037

   457,051

   190,451

   236,873

   571,354

   655,065

     

NET LOSS

NET LOSS

$  (22,053)

$  (32,913)

NET LOSS

$  (66,158)

$  (83,576)

     

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


$  (21,832)


$  (32,584)

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

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


$  (65,496)


$  (82,740)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$     (221)


$     (329)

Net loss allocated to other
Partners


$     (662)


$     (836)

 

* Amounts include $(21,832) and $(32,584) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 28


2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$    205,590

$    250,570

Rental

$    616,769

$    751,710

Interest and other

     11,285

      6,318

Interest and other

     33,854

     18,953

    216,875

    256,888

    650,623

    770,663

     

Expenses

Expenses

  

Expenses

  

Interest

33,284

40,758

Interest

99,851

122,273

Depreciation and amortization

45,881

56,444

Depreciation and amortization

137,643

169,333

Operating expenses

    170,438

    195,958

Operating expenses

    511,313

    587,874

    249,603

    293,160

    748,807

    879,480

     

NET LOSS

NET LOSS

$   (32,728)

$   (36,272)

NET LOSS

$   (98,184)

$  (108,817)

     

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


$   (32,401)


$   (35,909)

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

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


$   (97,202)


$  (107,729)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$      (327)


$      (363)

Net loss allocated to other
Partners


$      (982)


$    (1,088)

 

* Amounts include $(32,401) and $(35,909) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 29

 

 

2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$    302,956

$    437,102

Rental

$    784,882

$  1,311,305

Interest and other

     12,746

     42,050

Interest and other

     30,243

    126,151

    315,702

    479,152

    815,125

  1,437,456

     

Expenses

Expenses

  

Expenses

  

Interest

63,618

98,351

Interest

148,877

295,053

Depreciation and amortization

66,659

123,879

Depreciation and amortization

162,256

371,636

Operating expenses

    252,989

    388,803

Operating expenses

    665,615

  1,166,408

    383,266

    611,033

    976,748

  1,833,097

     

NET LOSS

NET LOSS

$   (67,564)

$  (131,881)

NET LOSS

$  (161,623)

$  (395,641)

     

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


$   (66,888)


$  (130,562)

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

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


$  (160,007)


$  (391,685)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$      (676)


$    (1,319)

Net loss allocated to other
Partners


$    (1,616)


$    (3,956)

 

* Amounts include $(66,888) and $(130,562) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 30


 

2018

2017

Revenues

  
 

Rental

$   203,637

$   257,521

 

Interest and other

     5,858

     6,320

 

   209,495

   263,841

   

Expenses

  
 

Interest

19,972

23,407

 

Depreciation and amortization

48,004

72,625

 

Operating expenses

   169,158

   202,203

 

   237,134

   298,235

   

NET LOSS

$  (27,639)

$  (34,394)

   

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


$  (27,363)


$  (34,050)

   

Net loss allocated to other
Partners


$     (276)


$     (344)

2018

2017

Revenues

Rental

$         -

$   772,562

Interest and other

         -

    18,959

         -

   791,521

Expenses

Interest

-

70,220

Depreciation and amortization

-

217,874

Operating expenses

         -

   606,608

         -

   894,702

NET LOSS

$         -

$ (103,181)

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


$         -


$ (102,149)

Net loss allocated to other
Partners


$         -


$   (1,032)

 

* Amounts include $(27,363) and $(34,050) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 31


2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$    301,590

$    426,560

Rental

$    376,723

$  1,132,079

Interest and other

     10,945

     12,249

Interest and other

     10,701

     33,083

    312,535

    438,809

    387,424

  1,165,162

     

Expenses

Expenses

  

Expenses

  

Interest

22,551

42,067

Interest

20,306

107,647

Depreciation and amortization

108,367

143,308

Depreciation and amortization

104,349

385,046

Operating expenses

    296,847

    378,566

Operating expenses

    310,598

  1,013,004

    427,765

    563,941

    435,253

  1,505,697

     

NET LOSS

NET LOSS

$  (115,230)

$  (125,132)

NET LOSS

$   (47,829)

$  (340,535)

     

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


$  (114,078)


$  (123,881)

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

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


$   (47,351)


$  (337,130)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$    (1,152)


$    (1,251)

Net loss allocated to other
Partners


$      (478)


$    (3,405)

 

* Amounts include $(114,078) and $(123,881) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 32


2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$    385,247

$    568,464

Rental

$  1,155,742

$  1,475,541

Interest and other

     5,736

     17,896

Interest and other

    17,208

     35,824

    390,983

    586,360

  1,172,950

  1,511,365

     

Expenses

Expenses

  

Expenses

  

Interest

64,222

89,004

Interest

192,666

240,025

Depreciation and amortization

109,582

167,867

Depreciation and amortization

328,747

455,816

Operating expenses

    320,647

    440,872

Operating expenses

    961,941

  1,192,506

    494,451

    697,743

  1,483,354

  1,888,347

     

NET LOSS

NET LOSS

$  (103,468)

$  (111,383)

NET LOSS

$  (310,404)

$  (376,982)

     

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


$  (102,433)


$  (110,269)

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

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


$  (307,300)


$  (373,212)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$    (1,035)


$    (1,114)

Net loss allocated to other
Partners


$    (3,104)


$    (3,770)

* Amounts include $(102,433) and $(110,269) for 2018 and 2017, respectively,of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 33


2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$   316,467

$   352,356

Rental

$   949,402

$ 1,040,194

Interest and other

    11,510

    12,747

Interest and other

    34,529

    36,781

   327,977

   365,103

 

   983,931

 1,076,975

 

     

Expenses

Expenses

  

Expenses

  

Interest

50,837

59,782

Interest

152,512

179,339

Depreciation and amortization

69,767

89,646

Depreciation and amortization

209,302

260,563

Operating expenses

   232,835

   269,458

Operating expenses

   698,505

   784,939

   353,439

   418,886

 1,060,319

 1,224,841

     

NET LOSS

NET LOSS

$  (25,462)

$  (53,783)

NET LOSS

$  (76,388)

$ (147,866)

     

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


$  (25,207)


$  (53,245)

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

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


$  (75,624)


$ (146,387)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$     (255)


$     (538)

Net loss allocated to other
Partners


$     (764)


$   (1,479)

 

* Amounts include $(25,207) and $(53,245) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 34


2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$   247,506

$   242,936

Rental

$   742,517

$   728,809

Interest and other

    12,600

     8,753

Interest and other

    37,801

    26,259

   260,106

   251,689

   780,318

   755,068

     

Expenses

Expenses

  

Expenses

  

Interest

28,958

26,066

Interest

86,873

78,197

Depreciation and amortization

68,548

68,907

Depreciation and amortization

205,643

206,720

Operating expenses

   185,490

   188,617

Operating expenses

   556,471

   565,852

   282,996

   283,590

   848,987

   850,769

     

NET LOSS

NET LOSS

$  (22,890)

$  (31,901)

NET LOSS

$  (68,669)

$  (95,701)

     

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


$  (22,661)


$  (31,582)

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

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


$  (67,982)


$  (94,744)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$     (229)


$     (319)

Net loss allocated to other
Partners


$     (687)


$     (957)

 

* Amounts include $(22,661) and $(31,582) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 35


2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$   252,467

$   313,246

Rental

$   757,401

$   829,380

Interest and other

    14,152

     9,606

Interest and other

    42,456

    22,600

   266,619

   322,852

   799,857

   851,980

     

Expenses

Expenses

  

Expenses

  

Interest

41,622

51,614

Interest

124,866

138,051

Depreciation and amortization

80,578

92,481

Depreciation and amortization

241,734

254,427

Operating expenses

   151,889

   185,357

Operating expenses

   455,666

   482,739

   274,089

   329,452

   822,266

   875,217

     

NET LOSS

NET LOSS

$   (7,470)

$   (6,600)

NET LOSS

$  (22,409)

$  (23,237)

     

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


$   (7,395)


$   (6,534)

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

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


$  (22,185)


$  (23,005)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$      (75)


$      (66)

Net loss allocated to other
Partners


$     (224)


$     (232)

 

* Amounts include $(7,395) and $(6,534) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 36


2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$   165,386

$   161,046

Rental

$   358,462

$   483,137

Interest and other

     4,998

     4,589

Interest and other

       876

    13,767

   170,384

   165,635

   359,338

   496,904

     

Expenses

Expenses

  

Expenses

  

Interest

30,331

32,208

Interest

67,983

96,625

Depreciation and amortization

42,255

42,278

Depreciation and amortization

83,885

126,835

Operating expenses

   120,885

   124,116

Operating expenses

   263,534

   372,348

   193,471

   198,602

   415,402

   595,808

     

NET LOSS

NET LOSS

$  (23,087)

$  (32,967)

NET LOSS

$  (56,064)

$  (98,904)

     

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


$  (22,856)


$  (32,637)

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

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


$  (55,503)


$  (97,915)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$     (231)


$     (330)

Net loss allocated to other
Partners


$     (561)


$     (989)

 

* Amounts include $(22,856) and $(32,637) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 37

 

 

 

2018

2017

Revenues

  
 

Rental

$   185,681

$   203,958

 

Interest and other

    19,036

    20,176

 

   204,717

   224,134

   

Expenses

  
 

Interest

31,027

32,077

 

Depreciation and amortization

57,825

69,701

 

Operating expenses

   133,661

   158,294

 

   222,513

   260,072

   

NET LOSS

$  (17,796)

$  (35,938)

   

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


$  (17,618)


$  (35,579)

   

Net loss allocated to other
Partners


$     (178)


$     (359)

2018

2017

Revenues

Rental

$         -

$   588,136

Interest and other

         -

    58,474

         -

   646,610

Expenses

Interest

-

96,219

Depreciation and amortization

-

197,321

Operating expenses

         -

   441,915

         -

   735,455

NET LOSS

$         -

$  (88,845)

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


$         -


$  (87,957)

Net loss allocated to other
Partners


$         -


$     (888)

 

* Amounts include $(17,618) and $(35,579) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 38


2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$   405,363

$   443,713

Rental

$ 1,216,088

$ 1,331,140

Interest and other

     8,187

     5,418

Interest and other

    24,560

    16,255

   413,550

   449,131

 1,240,648

 1,347,395

     

Expenses

Expenses

  

Expenses

  

Interest

55,620

61,781

Interest

166,859

185,342

Depreciation and amortization

77,757

93,157

Depreciation and amortization

233,270

279,470

Operating expenses

   282,404

   320,254

Operating expenses

   847,211

   960,761

   415,781

   475,192

 1,247,340

 1,425,573

     

NET LOSS

NET LOSS

$   (2,231)

$  (26,061)

NET LOSS

$   (6,692)

$  (78,178)

     

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


$   (2,209)


$  (25,800)

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

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


$   (6,625)


$  (77,396)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$      (22)


$     (261)

Net loss allocated to other
Partners


$      (67)


$     (782)

 

* Amounts include $(2,209) and $(25,800) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 39


 

2018

2017

Revenues

  
 

Rental

$         -

$         42,108-

 

Interest and other

         -

         -

 

         -

         42,108-

   

Expenses

  
 

Interest

-

1,559-

 

Depreciation and amortization

-

7,273-

 

Operating expenses

         -

         36,625-

 

         -

         45,457-

   

NET LOSS

$         -

$         (3,349)-

   

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


$         -


$         (3,316)-

   

Net loss allocated to other
Partners


$         -


$         (33)-

 

* Amounts include $- and $(3,316) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 40


2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$   536,374

$   622,783

Rental

$ 1,443,245

$ 1,677,092

Interest and other

    14,697

    14,318

Interest and other

    36,591

    37,872

   551,071

   637,101

 1,479,836

 1,714,964

     

Expenses

Expenses

  

Expenses

  

Interest

99,916

135,162

Interest

267,896

342,476

Depreciation and amortization

149,818

177,693

Depreciation and amortization

378,996

493,185

Operating expenses

   427,291

   490,299

Operating expenses

 1,100,318

 1,380,725

   677,025

   803,154

 1,747,210

 2,216,386

     

NET LOSS

NET LOSS

$ (125,954)

$ (166,053)

NET LOSS

$ (267,374)

$ (501,422)

     

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


$ (124,694)


$ (164,392)

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

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


$ (264,700)


$ (496,408)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$   (1,260)


$   (1,661)

Net loss allocated to other
Partners


$   (2,674)


$   (5,014)

 

* Amounts include $(124,694) and $(164,392) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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




















Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 41

 

 

2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$   907,775

$ 1,349,185

Rental

$ 2,723,324

$ 3,731,606

Interest and other

    14,831

    28,304

Interest and other

    44,492

    78,700

   922,606

 1,377,489

 2,767,816

 3,810,306

     

Expenses

Expenses

  

Expenses

  

Interest

170,013

284,800

Interest

510,040

774,931

Depreciation and amortization

192,377

319,024

Depreciation and amortization

577,130

893,311

Operating expenses

   611,831

   931,604

Operating expenses

 1,835,494

 2,606,559

   974,221

 1,535,428

 2,922,664

 4,274,801

     

NET LOSS

NET LOSS

$  (51,615)

$ (157,939)

NET LOSS

$ (154,848)

$ (464,495)

     

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


$  (51,099)


$ (156,360)

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

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


$ (153,300)


$ (459,850)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$     (516)


$   (1,579)

Net loss allocated to other
Partners


$   (1,548)


$   (4,645)

* Amounts include $(51,099) and $(156,360) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 42


2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$   641,667

$   911,872

Rental

$ 1,660,288

$ 2,581,674

Interest and other

    24,793

    38,065

Interest and other

    68,234

   103,563

   666,460

   949,937

 1,728,522

 2,685,237

     

Expenses

Expenses

  

Expenses

  

Interest

129,560

197,800

Interest

337,485

560,478

Depreciation and amortization

194,985

280,472

Depreciation and amortization

501,382

801,778

Operating expenses

   474,725

   680,302

Operating expenses

 1,204,267

 1,918,744

   799,270

 1,158,574

 2,043,134

 3,281,000

     

NET LOSS

NET LOSS

$ (132,810)

$ (208,637)

NET LOSS

$ (314,612)

$ (595,763)

     

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


$ (131,482)


$ (206,551)

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

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


$ (311,466)


$ (589,805)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$   (1,328)


$   (2,086)

Net loss allocated to other
Partners


$   (3,146)


$   (5,958)

 

* Amounts include $(131,482) and $(206,551) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 43


2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$ 1,046,749

$ 1,309,676

Rental

$ 2,592,340

$ 3,823,594

Interest and other

    45,181

    65,602

Interest and other

   110,695

   186,172

 1,091,930

 1,375,278

 2,703,035

 4,009,766

     

Expenses

Expenses

  

Expenses

  

Interest

128,333

205,990

Interest

308,956

586,218

Depreciation and amortization

347,594

431,594

Depreciation and amortization

788,153

1,263,725

Operating expenses

   788,238

 1,010,064

Operating expenses

 1,974,029

 2,952,130

 1,264,165

 1,647,648

 3,071,138

 4,802,073

     

NET LOSS

NET LOSS

$ (172,235)

$ (272,370)

NET LOSS

$ (368,103)

$ (792,307)

     

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


$ (170,513)


$ (269,646)

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

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


$ (364,422)


$ (784,384)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$   (1,722)


$   (2,724)

Net loss allocated to other
Partners


$   (3,681)


$   (7,923)

 

* Amounts include $(170,513) and $(269,646) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 44


2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$  1,490,507

$  1,465,870

Rental

$  4,471,520

$  4,397,610

Interest and other

     40,927

     45,471

Interest and other

    122,781

    136,412

  1,531,434

  1,511,341

  4,594,301

  4,534,022

     

Expenses

Expenses

  

Expenses

  

Interest

347,788

350,607

Interest

1,043,365

1,051,820

Depreciation and amortization

338,087

341,954

Depreciation and amortization

1,014,262

1,025,862

Operating expenses

    855,541

    878,513

Operating expenses

  2,566,624

  2,635,539

  1,541,416

  1,571,074

  4,624,251

  4,713,221

NET LOSS

NET LOSS

$    (9,982)

$   (59,733)

NET LOSS

$   (29,950)

$  (179,199)

     

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


$    (9,882)


$   (59,136)

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

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


$   (29,651)


$  (177,407)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$      (100)


$      (597)

Net loss allocated to other
Partners


$      (299)


$    (1,792)

 

* Amounts include $(9,882) and $(59,136) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

Series 45


2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$  1,772,558

$  1,810,088

Rental

$  4,990,180

$  5,430,265

Interest and other

     40,396

     36,785

Interest and other

    103,760

    110,355

  1,812,954

  1,846,873

  5,093,940

  5,540,620

     

Expenses

Expenses

  

Expenses

  

Interest

227,709

242,578

Interest

656,160

727,734

Depreciation and amortization

472,229

492,220

Depreciation and amortization

1,328,457

1,476,660

Operating expenses

  1,306,696

  1,310,510

Operating expenses

  3,702,951

  3,931,531

  2,006,634

  2,045,308

  5,687,568

  6,135,925

     

NET LOSS

NET LOSS

$  (193,680)

$  (198,435)

NET LOSS

$  (593,628)

$  (595,305)

     

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


$  (191,743)


$  (196,451)

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

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


$  (587,692)


$  (589,352)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$    (1,937)


$    (1,984)

Net loss allocated to other
Partners


$    (5,936)


$    (5,953)

 

* Amounts include $(191,743) and $(196,451) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
ThreeNine Months Ended March 31,September 30,
(Unaudited)

 

Series 46


2018

2017

2018

2017

Revenues

Revenues

  

Revenues

  

Rental

$ 1,180,133

$ 1,154,956

Rental

$ 3,540,398

$ 3,464,867

Interest and other

    35,800

    25,096

Interest and other

   107,401

    75,287

 1,215,933

 1,180,052

 3,647,799

 3,540,154

     

Expenses

Expenses

  

Expenses

  

Interest

234,954

235,971

Interest

704,861

707,913

Depreciation and amortization

283,501

285,890

Depreciation and amortization

850,503

857,671

Operating expenses

   741,362

   752,260

Operating expenses

 2,224,086

 2,256,779

 1,259,817

 1,274,121

 3,779,450

 3,822,363

     

NET LOSS

NET LOSS

$  (43,884)

$  (94,069)

NET LOSS

$ (131,651)

$ (282,209)

     

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


$  (43,445)


$  (93,128)

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

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


$ (130,334)


$ (279,387)

     

Net loss allocated to other
Partners

Net loss allocated to other
Partners


$     (439)


$     (941)

Net loss allocated to other
Partners


$   (1,317)


$   (2,822)

 

 

* Amounts include $(43,445) and $(93,128) for 2018 and 2017, respectively, of net loss not recognized under the equity method of accounting.

 

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

 

 

 

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
June 30,December 31, 2018

(Unaudited)

NOTE E - TAXABLE LOSS

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

 

NOTE F - INCOME TAXES

 

The Fund has elected to be treated as a pass-through entity for income tax purposes and, as such, is not subject to income taxes. Rather, all items of taxable income, deductions and tax credits are passed through to and are reported by its owners on their respective income tax returns. The Fund's federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, the Fund is not required to take any tax positions in order to qualify as a pass-through entity. The Fund is required to file and does file tax returns with the Internal Revenue Service and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Fund has no other tax positions, which must be considered for disclosure. Income tax returns filed by the Fund are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2014 remain open.

 

NOTE G - SUBSEQUENT EVENTS

 

Subsequent to June 30,December 31, 2018, the Fund has entered into an agreement to transfer the interest in onefive operating limited partnership.partnerships. The estimated transfer price and other terms for the dispositiondispositions of the operating limited partnership haspartnerships have been determined. The estimated proceeds to be received for the operating limited partnership is $42,000.partnerships are $689,744. The estimated gain on the transfer of the operating limited partnership is $39,500and ispartnerships are $661,244and are expected to be recognized in the secondfourth quarter of fiscal year ending March 31, 2019.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

This Management's Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements including our intentions, hopes, beliefs, expectations, strategies and predictions of our future activities, or other future events or conditions. These statements are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created by these acts. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including, for example, the factors identified in Part I, Item 1A. "Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended March 31, 2018. Although we believe that the assumptions underlying these forward-looking statements are reasonable, any of the assumptions could be inaccurate, and there can be no assurance that the forward-looking statements included in this Report will prove to be accurate. In light of the significant uncertainties inherent in these forward-looking statements, the inclusion of this information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved.

 

Liquidity

The Fund's primary source of funds was the proceeds of its Public Offering.  Other sources of liquidity include (i) interest earned on capital contributions unpaid for the threenine months ended June 30,December 31, 2018 or on working capital reserves, (ii) cash distributions from operations of the Operating Partnerships in which the Fund has invested and (iii) proceeds received from the dispositions of the Operating Partnership that are returned to fund reserves.  These sources of liquidity, along with the Fund's working capital reserve, are available to meet the obligations of the Partnership.  The Fund does not anticipate significant cash distributions from operations of the Operating Partnerships.

 

The Fund is currently accruing the fund management fee.  Fund management fees accrued during the quarter ended June 30,December 31, 2018 were $517,499$465,131 and total fund management fees accrued as of June 30,December 31, 2018 were $26,870,886.$19,490,438. During the threenine months ended June 30,December 31, 2018, $2,921,648$5,841,912 of the accrued fund management fees were paid. Pursuant to the Partnership Agreement, these liabilities will be deferred until the Fund receives proceeds from sales of the Operating Partnerships that will be used to satisfy these liabilities. The Fund's working capital and sources of liquidity coupled with affiliated party liability accruals allow sufficient levels of liquidity to meet the third party obligations of the Fund.  The Fund is currently unaware of any trends that would create insufficient liquidity to meet future third party obligations of the Fund.

















 

Liquidity (continued)

As of June 30,December 31, 2018, an affiliate of the general partner of the Fund advanced a total of $222,511$232,650 to Series 44 to pay some operating expenses of the Fund, and to make advances and/or loans to Operating Partnerships. These advances are included in Accounts payable affiliates. During the threenine months ended June 30,December 31, 2018, $2,273$12,412 was advanced to Series 44 from an affiliate of the general partner. As of June 30,December 31, 2017 $220,455 and $54,659 was paid back from Series 39 and Series 45, respectively, to an affiliate of the general partner. All payables to affiliates will be paid, without interest, from available cash flow or the proceeds of sales or refinancing of the Fund's interests in Operating Partnerships.

 

Capital Resources

The Fund offered BACs in the Public Offering declared effective by the Securities and Exchange Commission on December 16, 1993. The Fund received $38,667,000, $18,927,000, $25,644,000, $33,366,000, $21,697,000, $30,248,000, $39,959,000, $24,607,000, $39,999,000, $39,918,000, $26,490,750, $44,057,750, $47,431,000, $26,362,000, $35,273,000, $33,004,630, $21,068,375, $25,125,000, $25,431,000, $22,921,000, $26,629,250, $28,916,260, $27,442,620, $27,442,620, $36,379,870, $27,019,730, $40,143,670 and $29,809,980 representing 3,866,700, 1,892,700, 2,564,400, 3,336,727, 2,169,878, 3,026,109, 3,995,900, 2,460,700, 4,000,738, 3,991,800, 2,651,000, 4,417,857, 4,754,198, 2,636,533, 3,529,319, 3,300,463, 2,106,837, 2,512,500, 2,543,100, 2,292,152, 2,630,256, 2,891,626, 2,744,262, 3,637,987, 2,701,973, 4,014,367 and 2,980,998 BACs from investors admitted as BAC Holders in Series 20, Series 21, Series 22, Series 23, Series 24, Series 25, Series 26, Series 27, Series 28, Series 29, Series 30, Series 31, Series 32, Series 33, Series 34, Series 35, Series 36, Series 37, Series 38, Series 39, Series 40, Series 41, Series 42, Series 43, Series 44, Series 45 and Series 46, respectively, as of June 30,December 31, 2018.

Series 20

The Fund commenced offering BACs in Series 20 on January 21, 1994. Offers and sales of BACs in Series 20 were completed on June 24, 1994. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 24 Operating Partnerships in the amount of $27,693,970.Series 20 has since sold its interest in 23all 24 of the Operating Partnerships and 1 remains.Partnerships.

Prior to the quarter ended June 30,December 31, 2018, Series 20 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 21

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

Prior to the quarter ended June 30,December 31, 2018, Series 21 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 22

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

Prior to the quarter ended June 30,December 31, 2018, Series 22 had released all payments of its capital contributions to the Operating Partnerships.

Series 23

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

Prior to the quarter ended June 30,December 31, 2018, Series 23 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 24

The Fund commenced offering BACs in Series 24 on June 9, 1995. Offers and sales of BACs in Series 24 were completed on September 22, 1995. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 24 Operating Partnerships in the amount of $15,796,309. Series 24 has since sold its interest in 1920 of the Operating Partnerships and 54 remain.

Prior to the quarter ended June 30,December 31, 2018, Series 24 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 25

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

Prior to the quarter ended June 30,December 31, 2018, Series 25 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 26

The Fund commenced offering BACs in Series 26 on January 18, 1996. Offers and sales of BACs in Series 26 were completed on June 14, 1996. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 45 Operating Partnerships in the amount of $29,401,215. Series 26 has since sold its interest in 37 of the Operating Partnerships and 8 remain.

Prior to the quarter ended June 30,December 31, 2018, Series 26 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 27

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

Prior to the quarter ended June 30,December 31, 2018, Series 27 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 28

The Fund commenced offering BACs in Series 28 on September 30, 1996. Offers and sales of BACs in Series 28 were completed on January 31, 1997. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 26 Operating Partnership in the amount of $29,281,983. Series 28 has since sold its interest in 22 of the Operating Partnerships and 4 remain.

Prior to the quarter ended June 30,December 31, 2018, Series 28 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 29

The Fund commenced offering BACs in Series 29 on February 10, 1997. Offers and sales of BACs in Series 29 were completed on June 20, 1997. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 22 Operating Partnerships in the amount of $29,137,877. Series 29 has since sold its interest in 17 of the Operating Partnerships and 5 remain.

During the quarter ended June 30,December 31, 2018, Series 29 did not record any releases of capital contributions. Series 29 has outstanding contributions payable to 1 Operating Partnership in the amount of $785 as of June 30,December 31, 2018. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership 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 17all 20 of the Operating Partnerships and 3 remain.Partnerships.

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

Series 31

The Fund commenced offering BACs in Series 31 on September 11, 1997. Offers and sales of BACs in Series 31 were completed on January 18, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 27 Operating Partnerships in the amount of $32,569,100. Series 31 has since disposed of its interest in 2026 of the Operating Partnerships and 7 remain.1 remains.

During the quarter ended June 30,December 31, 2018, Series 31 did not record any releases of capital contributions. Series 31 has outstanding contributions payable to 31 Operating PartnershipsPartnership in the amount of $66,294$25,000 as of June 30,December 31, 2018. Of the amount outstanding, $25,000 has been funded into an escrow account on behalf of one Operating Partnership. The escrowed funds will be converted to capital and the remaining contributions of $41,294 will be released when the Operating Partnerships havePartnership has achieved the conditions set forth in their respectiveits partnership agreements.agreement.

 

Series 32

The Fund commenced offering BACs in Series 32 on January 19, 1998. Offers and sales of BACs in Series 32 were completed on June 23, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 17 Operating Partnerships in the amount of $34,129,677. Series 32 has since sold its interest in 12 of the Operating Partnerships and 5 remain. The series has also purchased membership interests in Bradley Phase I of Massachusetts LLC, Bradley Phase II of Massachusetts LLC, Byam Village of Massachusetts LLC, Hanover Towers of Massachusetts LLC, Harbor Towers of Massachusetts LLC and Maple Hill of Massachusetts LLC. In December 2010, the investment general partner sold its membership interests and a gain on the sale of the membership interests has been recorded in the amount of $499,998 as of December 31, 2010. Under the terms of these Assignments of Membership Interests dated December 1, 1998, the series is entitled to various profits, losses, tax credits, cash flow, proceeds from capital transactions and capital accounts as defined in the individual Operating Partnership Agreements. The series utilized $1,092,847 of funds available to invest in Operating Partnerships for this investment.

During the quarter ended June 30,December 31, 2018, Series 32 did not record any releases of capital contributions. Series 32 has outstanding contributions payable to 1 Operating Partnership in the amount of $1,229 as of June 30,December 31, 2018. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

Series 33

The Fund commenced offering BACs in Series 33 on June 22, 1998. Offers and sales of BACs in Series 33 were completed on September 21, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 10 Operating Partnerships in the amount of $19,594,100. Series 33 has since sold its interest in 7 of the Operating Partnerships and 3 remain.

Prior to the quarter ended June 30,December 31, 2018, Series 33 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 34

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

Prior to the quarter ended June 30,December 31, 2018, Series 34 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 35

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

Prior to the quarter ended June 30,December 31, 2018, Series 35 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 36

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

Prior to the quarter ended June 30,December 31, 2018, Series 36 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 37

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


Prior to the quarter ended June 30,December 31, 2018, Series 37 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 38

The Fund commenced offering BACs in Series 38 on February 1, 2000. Offers and sales of BACs in Series 38 were completed on July 31, 2000. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 10 Operating Partnerships in the amount of $18,612,287. Series 38 has since sold its interest in 7 of the Operating Partnerships and 3 remain. In addition, the Fund committed and used $420,296 of Series 38 net offering proceeds to acquire a membership interest in a limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes.

Prior to the quarter ended June 30,December 31, 2018, Series 38 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 39

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

 

Prior to the quarter ended June 30,December 31, 2018, Series 39 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 40

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

During the quarter ended June 30,December 31, 2018, Series 40 did not record any releases of capital contributions. Series 40 has outstanding contributions payable to 1 Operating Partnership in the amount of $102 as of June 30,December 31, 2018. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

Series 41

The Fund commenced offering BACs in Series 41 on August 1, 2001. Offers and sales of BACs in Series 41 were completed on January 31, 2002. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 23 Operating Partnerships in the amount of $21,278,631. Series 41 has since sold its interest in 12 of the Operating Partnerships and 11 remain. In addition, the Fund committed and used $195,249 of Series 41 net offering proceeds to acquire a membership interest in a limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes.

 

Prior to the quarter ended June 30,December 31, 2018, Series 41 had released all payments of its capital contributions to the Operating 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 1214 of the Operating Partnerships and 119 remain.

During the quarter ended June 30,December 31, 2018, Series 42 did not record any releases of capital contributions. Series 42 has outstanding contributions payable to 1 Operating Partnership in the amount of $254 as of June 30,December 31, 2018. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

 

Series 43

The Fund commenced offering BACs in Series 43 on August 1, 2002. Offers and sales of BCAs in Series 43 were completed in June 30, 2002. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 23 Operating Partnerships in the amount of $26,326,543. Series 43 has since sold its interest in 79 of the Operating Partnerships and 1614 remain. The Fund also committed and used $805,160 of Series 43 net offering proceeds to acquire membership interests in limited liability companies, which are the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes. In addition, the Fund committed and used $268,451 of Series 43 net offering proceeds to acquire a limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships which own or are constructing, rehabilitating or operating apartment complexes.

 

During the quarter ended June 30,December 31, 2018, Series 43 did not record any releases of capital contributions. Series 43 has outstanding contributions payable to 1 Operating Partnerships in the amount of $26,082 as of June 30,December 31, 2018. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

 

Series 44

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

 

Prior to the quarter ended June 30,December 31, 2018, Series 44 had released all payments of its capital contributions to the Operating Partnerships.

 

Series 45

The Fund commenced offering BACs in Series 45 on July 1, 2003. Offers and sales of BACs in Series 45 were completed on September 16, 2003. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 31 Operating Partnerships in the amount of $30,232,512. Series 45 has since sold its interest in 6 of the Operating Partnerships and 25 remain. In addition, the Fund committed and used $302,862 of Series 45 net offering proceeds to acquire a limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships which own or are constructing, rehabilitating or operating apartment complexes.

 

During the quarter ended June 30,December 31, 2018, Series 45 did not record any releases of capital contributions. Series 45 has outstanding contributions payable to 1 Operating Partnership in the amount of $16,724 as of June 30,December 31, 2018. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

 

Series 46

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

 

Prior to the quarter ended June 30,December 31, 2018, Series 46 had released all payments of its capital contributions to the Operating Partnerships.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Results of Operations

As of June 30,December 31, 2018 and 2017, the Fund held limited partnership interests in 156132 and 205179 Operating Partnerships, respectively. In each instance the apartment complex owned by the applicable Operating Partnership is eligible for the federal housing tax credit. Initial occupancy of a unit in each apartment complex which complied with the minimum set-aside test (i.e., initial occupancy by tenants with incomes equal to no more than a certain percentage of area median income) and the rent restriction test (i.e., gross rent charged tenants does not exceed 30% of the applicable income standards) is referred to as "Qualified Occupancy." Each of the Operating Partnerships and each of the respective apartment complexes are described more fully in the Prospectus or applicable report on Form 8-K. The general partner of the Fund believes that there is adequate casualty insurance on the properties.

 

The Fund incurred a fund management fee to Boston Capital Asset Management Limited Partnership in an amount equal to .5 percent of the aggregate cost of the apartment complexes owned by the Operating Partnerships, less the amount of various asset management and reporting fees paid by the Operating Partnerships. The fund management fees net of reporting fees incurred and the reporting fees paid by the Operating Partnerships for the three and nine months ended June 30,December 31, 2018, are as follows:

 


3 Months
Gross Fund
Management Fee


3 Months
Asset Management and
Reporting Fee

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


3 Months
Gross Fund
Management Fee


3 Months
Asset Management and
Reporting Fee

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

Series 20

$  2,771

$    500

$  2,271

$  2,549

$     -

$  2,549

Series 21

-

-

-

-

-

-

Series 22

6,426

500

5,926

6,426

-

6,426

Series 23

5,556

3,606

1,950

5,556

-

5,556

Series 24

10,761

-

10,761

10,761

834

9,927

Series 25

-

-

-

-

-

-

Series 26

15,609

1,000

14,609

13,938

-

13,938

Series 27

7,635

-

7,635

7,635

10,000

(2,365)

Series 28

8,844

2,000

6,844

7,296

-

7,296

Series 29

15,093

-

15,093

7,261

3,000

4,261

Series 30

10,829

5,717

5,112

5,668

-

5,668

Series 31

19,092

1,500

17,592

16,065

-

16,065

Series 32

22,087

-

22,087

19,794

1,500

18,294

Series 33

13,318

-

13,318

13,318

4,000

9,318

Series 34

12,366

-

12,366

12,365

-

12,365

Series 35

10,653

-

10,653

10,653

6,600

4,053

Series 36

7,626

1,910

5,716

5,172

3,397

1,775

Series 37

10,184

8,018

2,166

-

-

-

Series 38

18,234

3,000

15,234

16,581

6,000

10,581

Series 39

-

-

-

-

-

-

Series 40

26,594

2,150

24,444

23,390

-

23,390

Series 41

38,704

14,920

23,784

34,076

1,915

32,161

Series 42

29,334

11,187

18,147

23,847

416

23,431

Series 43

45,635

17,552

28,083

45,090

39,558

5,532

Series 44

57,825

13,361

44,464

57,826

4,143

53,683

Series 45

70,024

12,507

57,517

67,565

4,655

62,910

Series 46

 52,299

  6,346

 45,953

 52,299

 3,000

 49,299

$517,499

$105,774

$411,725

$465,131

$89,018

$376,113

 


9 Months
Gross Fund
Management Fee


9 Months
Asset Management and
Reporting Fee

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

Series 20

$    7,869

$   500

$     7,369

Series 21

-

-

-

Series 22

19,278

500

18,778

Series 23

16,668

3,606

13,062

Series 24

32,283

2,001

30,282

Series 25

-

-

-

Series 26

43,485

1,000

42,485

Series 27

22,905

12,380

10,525

Series 28

23,436

2,000

21,436

Series 29

29,615

3,000

26,615

Series 30

23,959

5,717

18,242

Series 31

51,692

1,500

50,192

Series 32

61,675

1,500

60,175

Series 33

39,954

8,419

31,535

Series 34

37,097

4,200

32,897

Series 35

31,959

13,200

18,759

Series 36

18,788

5,307

13,481

Series 37

13,580

8,018

5,562

Series 38

51,396

9,000

42,396

Series 39

-

-

-

Series 40

76,578

7,550

69,028

Series 41

106,856

16,834

90,022

Series 42

80,686

23,859

56,827

Series 43

135,816

57,610

78,206

Series 44

173,477

29,139

144,338

Series 45

205,154

37,712

167,442

Series 46

  156,897

 13,807

  143,090

 

$1,461,103

$268,359

$1,192,744

 

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

Series 20

As of June 30, 2018 andDecember 31, 2017, the average Qualified Occupancy for the series was 100%.The series had a totaldid not have any properties as of 1 property at June 30, 2018, which was at 100% Qualified Occupancy.December 31, 2018.

For the threenine month periodsended June 30,December 31, 2018 and 2017, Series 20 reflects a net loss from Operating Partnerships of $(7,632)$- and $(24,591)$(63,950), respectively, which includes depreciation and amortization of $14,208$- and $36,093,$91,765, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

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

 

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

 

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

Series 21

As of June 30,December 31, 2017, the average Qualified Occupancy for the series was 100%.The series did not have any properties as of June 30,December 31, 2018.

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 21 reflects a net loss from Operating Partnerships of $- and $(4,687)$-, respectively, which includes depreciation and amortization of $- and $20,720,$-, 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 was 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 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 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 June 30, 2018 andDecember 31, 2017, the average Qualified Occupancy for the series was 100%.The series had a totaldid not have any properties as of 3 properties at June 30, 2018, all of which were at 100% Qualified Occupancy.December 31, 2018.

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 22 reflects a net loss from Operating Partnerships of $(15,320)$- and $(42,818)$(52,888), respectively, which includes depreciation and amortization of $27,270$- and $27,089,$103,504, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

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

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

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

Series 23

As of June 30, 2018 andDecember 31, 2017, the average Qualified Occupancy for the series was 100%.The series had a totaldid not have any properties as of 3 properties at June 30, 2018, all of which were at 100% Qualified Occupancy.December 31, 2018.

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 23 reflects a net loss from Operating Partnerships of $(8,242)$- and $(5,351)$(16,053), respectively, which includes depreciation and amortization of $22,548$- and $22,449,$67,348, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

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

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

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

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

 

Series 24

As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 54 properties at June 30,December 31, 2018, all of which were at 100% Qualified Occupancy.

 

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 24 reflects a net loss from Operating Partnerships of $(28,516)$(85,578) and $(38,262)$(114,786), respectively, which includes depreciation and amortization of $60,969$178,656 and $70,348,$211,044, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

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

 

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

Series 25

As of June 30,December 31, 2017, the average Qualified Occupancy for the series was 100%.The series did not have any properties as of June 30,December 31, 2018.

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 21 reflects a net loss from Operating Partnerships of $- and $(9,490)$-, respectively, which includes depreciation and amortization of $- and $44,177,$-, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

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

 

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

 

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

 

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

 

Series 26

As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 8 properties at June 30,December 31, 2018, all of which were at 100% Qualified Occupancy.

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 26 reflects a net loss from Operating Partnerships of $(79,448)$(238,345) and $(124,552)$(348,980), respectively, which includes depreciation and amortization of $77,703$233,109 and $143,109,$321,930, 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 Mason Housing, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $849,683 and cash proceeds to the investment partnership of $18,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $16,500 were returned to cash reserves held by Series 26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $16,500 as of September 30,December 31, 2017.

 

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

 

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

 

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

 

In June 2018, the investment general partner transferred its interest in Beckwood Manor One Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $831,636 and cash proceeds to the investment partnership of $14,000. Of the total proceeds received, $3,500 will bewas paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $10,500 were returned to cash reserves held by Series 26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $10,500 as of June 30, 2018.

 

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

 

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

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

Brookhaven Apartments Partnership, A LP

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

Warrensburg Heights L.P.

 

Series 27

As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 3 properties at June 30,December 31, 2018, all of which were at 100% Qualified Occupancy.

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 27 reflects a net loss from Operating Partnerships of $(22,053)$(66,158) and $(32,913)$(83,576), respectively, which includes depreciation and amortization of $44,462$133,387 and $60,321,$165,370, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

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

 

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

 

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

 

Angelou Court

 

Series 28

As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 4 properties at June 30,December 31, 2018, all of which were at 100% Qualified Occupancy.

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 28 reflects a net loss from Operating Partnerships of $(32,728)$(98,184) and $(36,272)$(108,817), respectively, which includes depreciation and amortization of $45,881$137,643 and $56,444,$169,333, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

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

 

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.

 

Maplewood Apartments Partnership, A LA Partnership

 

Series 29

As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 5 properties at June 30,December 31, 2018, all of which were at 100% Qualified Occupancy.

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 29 reflects a net loss from Operating Partnerships of $(67,564)$(161,623) and $(131,881)$(395,641), respectively, which includes depreciation and amortization of $66,659$162,256 and $123,879,$371,636, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

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

 

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

 

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

 

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

 

Westfield Apartments Partnership, A Louisiana Partnership

The Lincoln Hotel

Poplarville Housing Inc.

 

Series 30

As of June 30, 2018 andDecember 31, 2017, the average Qualified Occupancy for the series was 100%.The series had a totaldid not have any properties as of 3 properties at June 30, 2018, all of which were at 100% Qualified Occupancy.December 31, 2018.

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 30 reflects a net loss from Operating Partnerships of $(27,639)$- and $(34,394)$(103,181), respectively, which includes depreciation and amortization of $48,004$- and $72,625,$217,874, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

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

 

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

 

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

 

In March 2018, the investment general partner transferred its interest in Bellwood Four Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $578,951 and cash proceeds to the investment partnership of $14,000. Of the total proceeds received, $3,500 will bewas paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $10,500 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. 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 $10,500 as of March 31, 2018.

 

In June 2018, the investment general partner transferred its interest in Emerald Trace II Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $206,800 and cash proceeds to the investment partnership of $24,506. Of the total proceeds received, $5,000 will bewas paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $19,506 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 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 $19,506 as of June 30, 2018.

 

In June 2018, the investment general partner transferred its interest in Pyramid One, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $500,927 and cash proceeds to the investment partnership of $10,000. Of the total proceeds received, $5,500 will bewas paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $4,500 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. 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 $4,500 as of June 30, 2018.

 

TheIn December 2018, the investment general partner transferred its interest in Jeffries Associates Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,313,353 and cash proceeds to the investment partnership of $60,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $57,500 were returned to cash reserves held by Series 30. The monies held in cash reserves will continuebe utilized to monitorpay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the followinginvestment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, because of operational or other issues. However, thiswhich were applied against the investment limited partnership's investment in the Operating 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 exited its LIHTC compliance period and there is therefore no risk to past credit delivery.been recorded in the amount of $57,500 as of December 31, 2018.

 

JMCIn December 2018, the investment general partner transferred its interest in K.G.V.A. Limited Liability CompanyPartnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,695,038 and cash proceeds to the investment partnership of $50,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $47,500 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. 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 $47,500 as of December 31, 2018. In addition, equity outstanding for the Operating Partnership in the amount of $48,627 for Series 30 was recorded as gain on the transfer of the Operating Partnership as of December 31, 2018.

 

Series 31

As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 7 properties1 property at June 30,December 31, 2018, all of which werewas at 100% Qualified Occupancy.

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 31 reflects a net loss from Operating Partnerships of $(115,230)$(47,829) and $(125,132)$(340,535), respectively, which includes depreciation and amortization of $108,367$104,349 and $143,308,$385,046, 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 Ellisville Housing, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $508,068 and cash proceeds to the investment partnership of $24,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $22,500 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $22,500 as of September 30,December 31, 2017.

 

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

 

In June 2018, the investment general partner transferred its interest in Heritage One to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $814,632 and cash proceeds to the investment partnership of $11,000. Of the total proceeds received, $3,500 will bewas paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $7,500 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 $7,500 as of June 30, 2018.

 

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

TheIn December 2018, the investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

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

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

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

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

In December 2018, the investment general partner transferred its interest in G.A.V.A. Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $657,592 and cash proceeds to the investment partnership of $20,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $17,500 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 $17,500 as of December 31, 2018. In addition, equity outstanding for the Operating Partnership in the amount of $18,842 for Series 30 was recorded as gain on the transfer of the Operating Partnership as of December 31, 2018.

 

Series 32

As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 5 properties at June 30,December 31, 2018, all of which were at 100% Qualified Occupancy

 

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 32 reflects a net loss from Operating Partnerships of $(103,468)$(310,404) and $(111,383)$(376,982), respectively, which includes depreciation and amortization of $109,582$328,747 and $167,867,$455,816, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

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

 

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

 

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

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

 

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

 

Pecan Manor Apartments

Parkside Plaza, LLP

 

Series 33

As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 3 properties at June 30,December 31, 2018, all of which were at 100% Qualified Occupancy.

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 33 reflects a net loss from Operating Partnerships of $(25,462)$(76,388) and $(53,783)$(147,866), respectively, which includes depreciation and amortization of $69,767$209,302 and $89,646,$260,563, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In October 2017, the investment general partner transferred their respective interests in Stearns Assisted Housing Associates to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $435,500 and cash proceeds to the investment partnerships of $1,583 and $3,295 for Series 33 and Series 37, respectively. Of the total proceeds received, $633 and $1,318 for Series 33 and Series 37, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $950 and $1,977 for Series 33 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $950 and $1,977 for Series 33 and Series 37, respectively, as of December 31, 2017. In addition, equity outstanding for the Operating Partnership in the amount of $66,504 and $138,438 for Series 33 and Series 37, respectively, was recorded as gain on the transfer of the Operating Partnership as of December 31, 2017.

 

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

 

Series 34

As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 4 properties at June 30,December 31, 2018, all of which were at 100% Qualified Occupancy.

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 34 reflects a net loss from Operating Partnerships of $(22,890)$(68,669) and $(31,901)$(95,701), respectively, which includes depreciation and amortization of $68,548$205,643 and $68,907,$206,720, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

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

 

RHP 96-I, L.P.

Belmont Affordable Housing II, LP

 

Series 35

As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 2 properties at June 30,December 31, 2018, all of which were at 100% Qualified Occupancy.

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 35 reflects a net loss from Operating Partnerships of $(7,470)$(22,409) and $(6,600)$(23,237), respectively, which includes depreciation and amortization of $80,578$241,734 and $92,481,$254,427, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

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

 

Series 36

As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 32 properties at June 30,December 31, 2018, all of which were at 100% Qualified Occupancy.

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 36 reflects a net loss from Operating Partnerships of $(23,087)$(56,064) and $(32,967)$(98,904), respectively, which includes depreciation and amortization of $42,255$83,885 and $42,278,$126,835, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In December 2017, the operating general partner of Ashton Ridge L.D.H.A., Limited Partnership entered into an agreement to sell the property to an entity affiliated with the operating general partner and the transaction closed on July 31, 2018. The sales price of the property was $4,780,000, which included the outstanding mortgage balance of approximately $2,200,645. In addition, to cash proceeds from the sale, the operating/cash reserves/escrows of $212,517 were distributed after the sale. Cash proceeds from the sale returned to the investment partnerships $244,787 and $1,027,525, for Series 36 and Series 37, respectively. Of the total proceeds received by the investment partnerships, $1,624 and $6,876 for Series 36 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 $243,163 and $1,020,649 for Series 36 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. 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 $243,163 and $1,020,649 for Series 36 and Series 37, respectively, as of December 31, 2018. In November 2018, the investment partnerships received additional proceeds equal to its share of the final reconciliation of the Operating Partnership's cash in the amounts of $9,941 and $41,726, which was returned to the cash reserves of Series 36 and Series 37, respectively.

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

 

Wingfield Apartments Limited Partnership

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

 

Series 37

As of June 30, 2018 andDecember 31, 2017, the average Qualified Occupancy for the series was 100%.The series had a totaldid not have any properties as of 1 property at June 30, 2018, which was at 100% Qualified Occupancy.December 31, 2018.

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 37 reflects a net loss from Operating Partnerships of $(17,796)$- and $(35,938)$(88,845), respectively, which includes depreciation and amortization of $57,825$- and $69,701,$197,321, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In December 2017, the operating general partner of Ashton Ridge L.D.H.A., Limited Partnership entered into an agreement to sell the property to an entity affiliated with the operating general partner and the transaction closed on July 31, 2018. The sales price of the property was $4,780,000, which included the outstanding mortgage balance of approximately $2,200,645. In addition, to cash proceeds from the sale, the operating/cash reserves/escrows of $212,517 were distributed after the sale. Cash proceeds from the sale returned to the investment partnerships $244,787 and $1,027,525, for Series 36 and Series 37, respectively. Of the total proceeds received by the investment partnerships, $1,624 and $6,876 for Series 36 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 $243,163 and $1,020,649 for Series 36 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. 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 $243,163 and $1,020,649 for Series 36 and Series 37, respectively, as of December 31, 2018. In November 2018, the investment partnerships received additional proceeds equal to its share of the final reconciliation of the Operating Partnership's cash in the amounts of $9,941 and $41,726, which was returned to the cash reserves of Series 36 and Series 37, respectively.

 

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. In addition, equity outstanding for the Operating Partnership in the amount of $66,504 and $138,438 for Series 33 and Series 37, respectively, was recorded as gain on the transfer of the Operating Partnership 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.

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

 

Series 38

As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 3 properties at June 30,December 31, 2018, all of which were at 100% qualified occupancy.

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 38 reflects a net loss from Operating Partnerships of $(2,231)$(6,692) and $(26,061)$(78,178), respectively, which includes depreciation and amortization of $77,757$233,270 and $93,157,$279,470, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

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

 

Series 39

As of June 30,December 31, 2017, the average Qualified Occupancy for the series was 100%.The series did not have any properties as of June 30,December 31, 2018.

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 21 reflects a net loss from Operating Partnerships of $- and $(3,349)$-, respectively, which includes depreciation and amortization of $- and $7,273,$-, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

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 June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 98 properties at June 30,December 31, 2018, all of which at 100% Qualified Occupancy.

 

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 40 reflects a net loss from Operating Partnerships of $(125,954)$(267,374) and $(166,053)$(501,422), respectively, which includes depreciation and amortization of $149,818$378,996 and $177,693,$493,185, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In September 2018, the investment general partner transferred its interest in MA No. 2 LLC to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,003,723 and cash proceeds to the investment partnership of $50,000. Of the total proceeds received, $5,500 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $44,500 were returned to cash reserves held by Series 40. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. 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 $44,500 as of December 31, 2018.

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

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

 

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

 

MA No 2 LLC

Center Place Apartments II Limited Partnership

Oakland Partnership, A Louisiana Partnership

 

Series 41

As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 11 properties at June 30,December 31, 2018, all of which were at 100% Qualified Occupancy.

 

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 41 reflects a net loss from Operating Partnerships of $(51,615)$(154,848) and $(157,939)$(464,495), respectively, which includes depreciation and amortization of $192,377$577,130 and $319,024,$893,311, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In November 2017, the operating general partner of Harbor Pointe II/MHT LDHA Limited Partnership entered into an agreement to sell the property a non-affiliated entity and the transaction closed on February 6, 2018. The sales price of the property was $1,300,000, which included the outstanding mortgage balance of approximately $1,234,960 and nominal cash proceeds to the investment partnerships Series 41, Series 42 and Series 45, respectively. There were no cash proceeds available to pay expenses related to the sale and no proceeds were returned to cash reserves held by Series 41, Series 42 and Series 45, respectively. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating 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 was recorded for Series 41, Series 42 and Series 45, respectively, as of March 31, 2018. In addition, equity outstanding for the Operating Partnership in the amount of $100 for Series 41 was recorded as gain on the sale of the Operating Partnership as of March 31, 2018.

 

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

 

In December 2017, the investment general partner transferred its interest in Bienville Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $677,463 and cash proceeds to the investment partnership of $18,179. Of the total proceeds received, $1,000 was 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 was 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, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $243,872, $165,026 and $341,306 for Series 41, Series 42 and Series 43, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $243,872, $165,026 and $341,306 for Series 41, Series 42 and Series 43, respectively, as of March 31, 2018.

 

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

 

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

 

Cedar Grove Apartments Phase I

Rural Housing Partners of Mendota

 

Series 42

As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 119 properties at June 30,December 31, 2018, all of which were at 100% Qualified Occupancy.

 

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 42 reflects a net loss from Operating Partnerships of $(132,810)$(314,612) and $(208,637)$(595,763), respectively, which includes depreciation and amortization of $194,985$501,382 and $280,472,$801,778, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

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

 

In November 2017, the operating general partner of Harbor Pointe II/MHT LDHA Limited Partnership entered into an agreement to sell the property a non-affiliated entity and the transaction closed on February 6, 2018. The sales price of the property was $1,300,000, which included the outstanding mortgage balance of approximately $1,234,960 and nominal cash proceeds to the investment partnerships Series 41, Series 42 and Series 45, respectively. There were no cash proceeds available to pay expenses related to the sale and no proceeds were returned to cash reserves held by Series 41, Series 42 and Series 45, respectively. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating 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 was recorded for Series 41, Series 42 and Series 45, respectively, as of March 31, 2018. In addition, equity outstanding for the Operating Partnership in the amount of $100 for Series 41 was recorded as gain on the sale of the Operating Partnership as of March 31, 2018.

 

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

 

In December 2017, the investment general partner transferred its interest in Natchez Place Apartments II Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $726,453 and cash proceeds to the investment partnership of $37,779. Of the total proceeds received, $1,000 was 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, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $243,872, $165,026 and $341,306 for Series 41, Series 42 and Series 43, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $243,872, $165,026 and $341,306 for Series 41, Series 42 and Series 43, respectively, as of March 31, 2018.

 

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

The investment general partner will continue to monitor the following Operating 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.

 

Wingfield Apartments Partnership II, LP

 

Series 43


As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 1614 properties at June 30,December 31, 2018, all of which were at 100% Qualified Occupancy.

 

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 43 reflects a net loss from Operating Partnerships of $(172,235)$(368,103) and $(272,370)$(792,307), respectively, which includes depreciation and amortization of $347,594$788,153 and $431,594,$1,263,725, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

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

 

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

 

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

 

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

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

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

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

 

Carpenter School I Elderly Apartments Limited

Parkside Plaza, LLP

 

Series 44

As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy was 100%. The series had a total of 7 properties at June 30,December 31, 2018, all of which were at 100% Qualified Occupancy.

 

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 44 reflects a net loss from Operating Partnerships of $(9,982)$(29,950) and $(59,733)$(179,199), respectively, which includes depreciation and amortization of $338,087$1,014,262 and $341,954,$1,025,862, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

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

 

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

 

Series 45

As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 25 properties at June 30,December 31, 2018, all of which were at 100% Qualified Occupancy.

 

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 45 reflects a net loss from Operating Partnerships of $(193,680)$(593,628) and $(198,435)$(595,305), respectively, which includes depreciation and amortization of $472,229$1,328,457 and $492,220,$1,476,660, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

Jefferson Housing, LP (Jefferson House) is a 101-unit property located in Lynchburg, VA. 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. As of June 30,December 31, 2018, the property is maintaining average occupancy of 99%89%. Reporting delays remain a consistent issue. The operating general partner has an unlimited operating deficit guarantee. The low income housing tax credit compliance period expires on December 31, 2019.

 

In November 2017, the operating general partner of Harbor Pointe II/MHT LDHA Limited Partnership entered into an agreement to sell the property a non-affiliated entity and the transaction closed on February 6, 2018. The sales price of the property was $1,300,000, which included the outstanding mortgage balance of approximately $1,234,960 and nominal cash proceeds to the investment partnerships Series 41, Series 42 and Series 45, respectively. There were no cash proceeds available to pay expenses related to the sale and no proceeds were returned to cash reserves held by Series 41, Series 42 and Series 45, respectively. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating 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 was recorded for Series 41, Series 42 and Series 45, respectively, as of March 31, 2018. In addition, equity outstanding for the Operating Partnership in the amount of $100 for Series 41 was recorded as gain on the sale of the Operating Partnership as of March 31, 2018.

 

Bartlett Bayou, L.P. (Bartlett Bayou Apartments) is a 48-unit family property in Pascagoula, MS. The property operated below breakeven in 2017 and continues to operate below breakeven due to high operating expenses. Water expenses continue to rise as a result of a significant rate increase implemented in 2016. Additionally, the property has ongoing sewage pump and sewer line issues. The sewer line must be pumped at least once a quarter, totaling $12,000 annually. This expense is expected to continue until the sewer line is replaced, however the operating general partner has obtained two estimates fordoes not plan to replace the line in 2018. The property is estimated to be generating a cash deficit of $31,075 through December 2018, but a replacement reserve withdrawal in 2019 will reimburse expensed sewer line repairs but plans to scope the line once more to evaluate the amount of work the lines require.totaling $15,428. Occupancy declined slightly in 2017, averaging 95% but has improved to an average of 97% in 2018. Effective September 19, 2018, the City of Pascagoula voted to enforce a mandatory building inspection for all vacant units prior to the unit be leased. Utility and electrical services will not be provided to a new tenant without the approval from the City. The City of Pascagoula is charging a $50 fee per unit inspection. In April 2018, Mississippi Home Corporation completed a 100% file audit. The audit found 10 gross rent violations due to confusion over the Partnership's set-aside of 20/50. The operating general partner advanced $33,384 in 2018 to reimburse residents who were overcharged rents. Mississippi Home Corporation will issue a close out letter for the compliance audit after they receive a tenant ledger showing all rental rate overages were resolved for the entire 2018 calendar year. The investment generallimited partner will continue to work with the operating general partner and the management company to improve 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.

Reese I Limited Partnership (Reese Village Apartments) is a 40-unit property located in Emporia, VA. The property operated below breakeven in 2017 with 95% average occupancy. The property is aging and has required significant replacements and repairs for each unit turn, which was the leading cause of the below breakeven operations in 2017. Management also replaced the manager and maintenance staff for poor performance in 2017. The partnership recently met the maximum required Rural Development replacement reserve balance and starting in 2018, the annual deposit was reduced from $31,500 per year to $15,108 per year. This reduction is consistent with the requirement set forth by The Virginia Housing Development Authority. The Operating Partnership also received a $24 per unit per month rent increase for 2018, increasing annual potential rental income by $11,520. With a new on-site management team in place, more careful monitoring of expenses, and the increase in rents, the property operated above breakeven through the second quarter of 2018. As of June 30, 2018 the project was 95% occupied. 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. As the property has stabilized and is now operating above breakeven, the investment general partner will cease reporting for Reese I Limited Partnership subsequent to June 30, 2018.

 

In June 2018, the investment general partner transferred its interest in New Shinnston Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $455,569 and cash proceeds to the investment partnership of $350,000. Of the total proceeds received, $7,500 will bewas paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $342,500 were returned to cash reserves held by Series 45. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $342,500 as of June 30, 2018.

 

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

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

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

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

 

Heritage Christian Home III, L.P.

 

Series 46

As of June 30,December 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 14 properties at June 30,December 31, 2018, all of which were at 100% Qualified Occupancy.

 

For the threenine month periods ended June 30,December 31, 2018 and 2017, Series 46 reflects a net loss from Operating Partnerships of $(43,884)$(131,651) and $(94,069)$(282,209), respectively, which includes depreciation and amortization of $283,501$850,503 and $285,890,$857,671, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

Panola Housing Ltd. (Panola Apartments) is a 32-unit family property in Carthage, TX. The property operated slightly above breakeven through 2017.2018. Occupancy remains strong through the secondfourth quarter of 2018 averaging 98%97%. Property operations continue to be affected by high operating expenses. Operations remain above breakeven in 2018. The investment general partner continues to work with the operating general partner and the management company to reduce expenses. The operating general partner's operating deficit guarantee has expired. The 15-year low income housing tax credit compliance period expires on December 31, 2018. As the property has stabilized and is now operating above breakeven, the investment general partner will cease reporting for Panola Housing Ltd. subsequent to December 31, 2018.

 

Bartlett Bayou, L.P. (Bartlett Bayou Apartments) is a 48-unit family property in Pascagoula, MS. The property operated below breakeven in 2017 and continues to operate below breakeven due to high operating expenses. Water expenses continue to rise as a result of a significant rate increase implemented in 2016. Additionally, the property has ongoing sewage pump and sewer line issues. The sewer line must be pumped at least once a quarter, totaling $12,000 annually. This expense is expected to continue until the sewer line is replaced, however the operating general partner has obtained two estimates fordoes not plan to replace the line in 2018. The property is estimated to be generating a cash deficit of $31,075 through December 2018, but a replacement reserve withdrawal in 2019 will reimburse expensed sewer line repairs but plans to scope the line once more to evaluate the amount of work the lines require.totaling $15,428. Occupancy declined slightly in 2017, averaging 95% but has improved to an average of 97% in 2018. Effective September 19, 2018, the City of Pascagoula voted to enforce a mandatory building inspection for all vacant units prior to the unit be leased. Utility and electrical services will not be provided to a new tenant without the approval from the City. The City of Pascagoula is charging a $50 fee per unit inspection. In April 2018, Mississippi Home Corporation completed a 100% file audit. The audit found 10 gross rent violations due to confusion over the Partnership's set-aside of 20/50. The operating general partner advanced $33,384 in 2018 to reimburse residents who were overcharged rents. Mississippi Home Corporation will issue a close out letter for the compliance audit after they receive a tenant ledger showing all rental rate overages were resolved for the entire 2018 calendar year. The investment generallimited partner will continue to work with the operating general partner and the management company to improve 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 remain above breakeven through the second quarter of 2018, and total operating expenses are trending $8,000 higher than 2017 and will continue to monitor. The investment limited partner will continue to work with the operating general partner and management company to improve occupancy and overall operations. As of June 30, 2018, the property is maintaining occupancy of 93%. 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. As the property has stabilized and is now operating above breakeven, the investment general partner will cease reporting for Linden-Shawnee Partners, Limited Partnership subsequent to June 30, 2018.

 

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 below breakeven in 2017 mainly due to high operating expenses and a reduction in rental income resulting from a decrease in occupancy. Average occupancy has improved through the fourth quarter of 2018, averaging 93% for the year decreased towhich is up from 78% from 84% in 2016. This was2017. Operations are slightly above breakeven mainly due to poor property management resulting in a management change at the site level. Through the second quarter of 2018 occupancy hasincreased net rental income from improved averaging 95%, but operations remain below breakeven.occupancy. The investment limited partner will continue to work with the operating general partner on improving occupancy and will monitor operations.reducing expenses. The 15-year low income housing tax credit compliance period for Saint Martin Apartments, L.P. expires on December 31, 2020.

 

Off Balance Sheet Arrangements

 

None.

 

 

Principal Accounting Policies and Estimates

 

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

 

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

 

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

 

The main reason an impairment loss typically occurs is that the annual operating losses, recorded in accordance with the equity method of accounting, of the investment in limited partnership does not reduce the balance as quickly as the annual use of the tax credits. In years prior to the year ended March 31, 2009, management included remaining tax credits as well as residual value in the calculated value of the underlying investments. However, management decided to take a more conservative approach to the investment calculation and determined that the majority of the residual value component of the valuation was zero for the years ended March 31, 2018 and 2017. However, it is important to note that this change in the accounting estimate to the calculation method of the impairment loss has no effect on the actual value or performance of the overall investment, nor does it have any effect on the remaining credits to be generated.

 

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













Principal Accounting Policies and Estimates - continued

 

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

 

 

 

 

 

 

 

 

 

 

 

 




















 

 

 

 

 




 

 

 

 

Item 3Quantitative3

Quantitative and Qualitative Disclosures About Market Risk

  
 

Not Applicable

 

Item 4

Controls and Procedures

   
 

(a)

Evaluation of Disclosure Controls and Procedures

  

 

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

 

(b)

Changes in Internal Controls

   
  

There were no changes in the Fund's internal control over financial reporting that occurred during the quarter ended June 30,December 31, 2018 that materially affected, or are reasonably likely to materially affect, the Fund's internal control over financial reporting.

 

 

 

PART II - OTHER INFORMATION

 

 

 

 

Item 1.

Legal Proceedings

  
 

None

  

Item 1A.

Risk Factors

  
 

There have been no material changes from the risk factors set forth under Part I, Item 1A. "Risk Factors" in our Form 10-K for the fiscal year ended March 31, 2018.

  

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

  
 

None

  

Item 3.

Defaults Upon Senior Securities

  
 

None

  

Item 4.

Mine Safety Disclosures

  
 

Not Applicable

  

Item 5.

Other Information

  
 

None

Item 6.

Exhibits 

  
  

4.1 The Third Amendment to Agreement of Limited Partnership of Boston Capital Tax Credit Fund IV L.P (Incorporated by reference from Registrant's current report on Form 8-K as filed with the Securities and Exchange Commission on May 8, 2018).

ex4-1.htm

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

BCTC IV CERT 302

  

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

BCTC IV CERT 302

  

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

BCTC IV CERT 906

  

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

BCTC IV CERT 906

  
  

101. The following materials from the Boston Capital Tax Credit Fund IV L.P. Quarterly Report on Form 10-Q for the quarterly period ended June 30,December 31, 2018 formatted in Extensible Business Reporting Language (XBRL): (i) the Condensed Balance Sheets, (ii) the Condensed Statements of Operations, (iii) the Condensed Statements of Changes in Partners' Capital (Deficit), (iv) the Condensed Statements of Cash Flows and (v) related notes, filed herewith

  

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

 

Boston Capital Tax Credit Fund IV L.P.  

 

By:

Boston Capital Associates IV L.P.
General Partner

  
 
 

By:

BCA Associates Limited Partnership
General Partner

 

By:

C&M Management, Inc.
General Partner

   

Date: AugustFebruary 13, 20182019

 

By:

/s/ John P. Manning
John P. Manning

   
   

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

DATE:

SIGNATURE:

TITLE:

AugustFebruary 13, 20182019

/s/ John P. Manning

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

 

John P. Manning

  
  
  
  
  
   

AugustFebruary 13, 20182019

/s/ Marc N. Teal

Marc N. Teal

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