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Boston Capital Tax Credit Fund IV LP – ‘10-Q’ for 9/30/19

On:  Wednesday, 11/13/19, at 9:36am ET   ·   For:  9/30/19   ·   Accession #:  913778-19-6   ·   File #:  0-26200

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11/13/19  Boston Cap Tax Credit Fund IV LP  10-Q        9/30/19   40:13M

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Bctc Iv Sept 2019 10-Q                              HTML   2.42M 
 2: EX-31       Bctc Iv Sept 2019 Certification 302                 HTML     17K 
 3: EX-31       Bctc Iv Sept 2019 Certification 302                 HTML     17K 
 4: EX-32       Bctc Iv Sept 2019 Certification 906                 HTML     15K 
 5: EX-32       Bctc Iv Sept 2019 Certification 906                 HTML     15K 
25: R1          Document And Entity Information                     HTML     42K 
34: R2          Condensed Balance Sheets                            HTML    234K 
30: R3          Condensed Balance Sheets (Parenthetical)            HTML    102K 
12: R4          Condensed Statements of Operations                  HTML    243K 
24: R5          Condensed Statements of Changes in Partners'        HTML     97K 
                Capital (Deficit)                                                
33: R6          Condensed Statements of Cash Flows                  HTML    293K 
29: R7          Organization                                        HTML    105K 
13: R8          Accounting and Financial Reporting Policies         HTML     17K 
23: R9          Related Party Transactions                          HTML    150K 
18: R10         Investments in Operating Partnerships               HTML   1.40M 
22: R11         Taxable Loss                                        HTML     15K 
40: R12         Income Taxes                                        HTML     16K 
28: R13         Subsequent Events                                   HTML     17K 
17: R14         Organization (Tables)                               HTML    100K 
21: R15         Related Party Transactions (Tables)                 HTML    150K 
39: R16         Investments in Operating Partnerships (Tables)      HTML   1.40M 
27: R17         ORGANIZATION - BACs sold and total equity           HTML     97K 
                (Details)                                                        
19: R18         ORGANIZATION - Additional Information (Details)     HTML     21K 
20: R19         RELATED PARTY TRANSACTIONS - Fund management fees   HTML     66K 
                accrued (Details)                                                
38: R20         RELATED PARTY TRANSACTIONS - Fund management fees   HTML     64K 
                paid (Details)                                                   
32: R21         RELATED PARTY TRANSACTIONS - Additional             HTML     15K 
                Information (Details)                                            
15: R22         INVESTMENTS IN OPERATING PARTNERSHIPS - Operating   HTML     63K 
                Partnerships within the Fund (Details)                           
26: R23         INVESTMENTS IN OPERATING PARTNERSHIPS -             HTML     38K 
                Contributions payable (Details)                                  
37: R24         INVESTMENTS IN OPERATING PARTNERSHIPS -             HTML     94K 
                Dispositions by series (Details)                                 
31: R25         INVESTMENTS IN OPERATING PARTNERSHIPS - Current     HTML    162K 
                financial results available for the Operating                    
                Partnerships (Details)                                           
14: R26         INVESTMENTS IN OPERATING PARTNERSHIPS - Additional  HTML     23K 
                Information (Details)                                            
35: XML         IDEA XML File -- Filing Summary                      XML     62K 
16: EXCEL       IDEA Workbook of Financial Reports                  XLSX     81K 
 6: EX-101.INS  XBRL Instance -- bctciv-20190930                     XML   7.20M 
 8: EX-101.CAL  XBRL Calculations -- bctciv-20190930_cal             XML     56K 
 9: EX-101.DEF  XBRL Definitions -- bctciv-20190930_def              XML    452K 
10: EX-101.LAB  XBRL Labels -- bctciv-20190930_lab                   XML    364K 
11: EX-101.PRE  XBRL Presentations -- bctciv-20190930_pre            XML    581K 
 7: EX-101.SCH  XBRL Schema -- bctciv-20190930                       XSD     96K 
36: ZIP         XBRL Zipped Folder -- 0000913778-19-000006-xbrl      Zip    172K 


‘10-Q’   —   Bctc Iv Sept 2019 10-Q


This is an HTML Document rendered as filed.  [ Alternative Formats ]



 <> 
  Boston Capital Tax Credit Fund IV LP  
 <>   <>   <> 

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 ended September 30, 2019
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)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

None

None

None

 

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

 

Yes ý

No o

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted 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 such files).

 

Yes ý

No o

 

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 ý

Smaller Reporting Company ý

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. o

 

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

Yes o

No ý

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BOSTON CAPITAL TAX CREDIT FUND IV L.P.

 

QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTER ENDED SEPTEMBER 30, 2019

 

TABLE OF CONTENTS

 

PART I FINANCIAL INFORMATION

 
   

        Pages

 

Item 1. Condensed Financial Statements

     
   

Condensed Balance Sheets

4-31

   

Condensed Statements of Operations

32-87

   

Condensed Statements of Changes in 

Partners' Capital (Deficit)


88-115

   

Condensed Statements of Cash Flows

116-143

   

Notes to Condensed Financial Statements

144-178

     

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


179-215

     
 

Item 3. Quantitative and Qualitative Disclosures About         Market Risk


216

     
 

Item 4. Controls and Procedures

216

     

PART II OTHER INFORMATION

 
     

Item 1. Legal Proceedings

217

     
 

Item 1A. Risk Factors

217

     
 

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


217

     
 

Item 3. Defaults Upon Senior Securities

217

     
 

Item 4. Mine Safety Disclosures

217

     
 

Item 5. Other Information

217

     
 

Item 6. Exhibits

217

 

Signatures

218

     

 

 

 

Boston Capital Tax Credit Fund IV L.P.

 

CONDENSED BALANCE SHEETS

(Unaudited)


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

31,652,589

22,926,529

Other assets

15,088

40,088

$

31,667,677

$

22,966,617

LIABILITIES

Accounts payable and accrued expenses

$

541,272

$

550,316

Accounts payable affiliates (Note C)

16,957,211

19,302,918

Capital contributions payable

18,992

44,094

17,517,475

19,897,328

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership 
interest, $10 stated value per BAC; 
101,500,000 authorized BACs; 
83,651,080 issued and 83,048,603
outstanding as of September 30, 2019
and March 31, 2019.






14,626,888







3,656,782

General Partner

(476,686)

(587,493)

14,150,202

3,069,289

$

31,667,677

$

22,966,617

 

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


September 30,
2019


March 31,
2019

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; 
3,866,700 issued and 3,828,200
outstanding as of September 30, 2019
and March 31, 2019.






(754,767)






(754,767)

General Partner

754,767

754,767

-

-

$

-

$

-

 

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

 

Series 21

 


September 30,
2019


March 31,
2019

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 September 30, 2019
and March 31, 2019.






(898,231)







(898,231)

General Partner

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

 


September 30,
2019


March 31,
2019

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; 
2,564,400 issued and 2,550,145
outstanding as of September 30, 2019
and March 31, 2019.






(2,448,362)






(2,448,362)

General Partner

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 BALANCE SHEETS

(Unaudited)

Series 23

 


September 30,
2019


March 31,
2019

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; 
3,336,727 issued and 3,303,327
outstanding as of September 30, 2019
and March 31, 2019.






(224,264)






(224,264)

General Partner

224,264

224,264

-

-

$

-

$

-


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


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

362,191

402,018

Other assets

-

-

$

362,191

$

402,018

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; 
2,169,878 issued and 2,150,053
outstanding as of September 30, 2019
and March 31, 2019.






537,821






577,250

General Partner

(175,630)

(175,232)

362,191

402,018

$

362,191

$

402,018

 

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

 


September 30,
2019


March 31,
2019

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 September 30, 2019
and March 31, 2019.






219,815






219,815

General Partner

(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

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

498,271

554,439

Other assets

-

-

$

498,271

$

554,439

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

Accounts payable affiliates (Note C)

-

-

Capital contributions payable

-

-

-

-

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership 
interest, $10 stated value per BAC; 
101,500,000 authorized BACs; 
3,995,900 issued and 3,956,674
outstanding as of September 30, 2019
and March 31, 2019.






811,631






867,237

General Partner

(313,360)

(312,798)

498,271

554,439

$

498,271

$

554,439

 

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

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

7,301,073

6,500,234

Other assets

-

-

$

7,301,073

$

6,500,234

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 2,431,350
outstanding as of September 30, 2019
and March 31, 2019.






7,434,510






6,641,679

General Partner

(133,437)

(141,445)

7,301,073

6,500,234

$

7,301,073

$

6,500,234

 

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

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

660,142

690,605

Other assets

-

-

$

660,142

$

690,605

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

Accounts payable affiliates (Note C)

-

-

Capital contributions payable

-

-

-

-

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership 
interest, $10 stated value per BAC; 
101,500,000 authorized BACs; 
4,000,738 issued and 3,979,139
outstanding as of September 30, 2019
and March 31, 2019.






935,378






965,536

General Partner

(275,236)

(274,931)

660,142

690,605

$

660,142

$

690,605

 

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

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

169,323

196,944

Other assets

-

-

$

169,323

$

196,944

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

Accounts payable affiliates (Note C)

3,091,355

3,076,835

Capital contributions payable

785

785

3,092,140

3,077,620

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership 
interest, $10 stated value per BAC; 
101,500,000 authorized BACs; 
3,991,800 issued and 3,942,925
outstanding as of September 30, 2019
and March 31, 2019.






(2,554,942)






(2,513,222)

General Partner

(367,875)

(367,454)

(2,922,817)

(2,880,676)

$

169,323

$

196,944

 

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

 


September 30,
2019


March 31,
2019

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; 
2,651,000 issued and 2,621,200
outstanding as of September 30, 2019
and March 31, 2019.






(883,119)






(883,119)

General Partner

883,119

883,119

-

-

$

-

$

-


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

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

2,608,481

1,953,570

Other assets

-

25,000

$

2,608,481

$

1,978,570

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

Accounts payable affiliates (Note C)

-

-

Capital contributions payable

-

25,000

-

25,000

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership 
interest, $10 stated value per BAC; 
101,500,000 authorized BACs; 
4,417,857 issued and 4,375,757
outstanding as of September 30, 2019
and March 31, 2019.






2,961,655






2,313,293

General Partner

(353,174)

(359,723)

2,608,481

1,953,570

$

2,608,481

$

1,978,570

 

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

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

209,217

272,226

Other assets

-

-

$

209,217

$

272,226

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

Accounts payable affiliates (Note C)

206,905

218,525

Capital contributions payable

1,229

1,229

208,134

219,754

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership 
interest, $10 stated value per BAC; 
101,500,000 authorized BACs; 
4,754,198 issued and 4,724,298
outstanding as of September 30, 2019
and March 31, 2019.






407,436






458,311

General Partner

(406,353)

(405,839)

1,083

52,472

$

209,217

$

272,226

 

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

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

560,425

236,612

Other assets

-

-

$

560,425

$

236,612

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

Accounts payable affiliates (Note C)

-

1,099,287

Capital contributions payable

-

-

-

1,099,287

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership 
interest, $10 stated value per BAC; 
101,500,000 authorized BACs; 
2,636,533 issued and 2,621,433
outstanding as of September 30, 2019
and March 31, 2019.






780,601






(628,268)

General Partner

(220,176)

(234,407)

560,425

(862,675)

$

560,425

$

236,612

 

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

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

418,217

178,285

Other assets

-

-

$

418,217

$

178,285

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

Accounts payable affiliates (Note C)

2,713,691

2,689,830

Capital contributions payable

-

-

2,713,691

2,689,830

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership 
interest, $10 stated value per BAC; 
101,500,000 authorized BACs; 
3,529,319 issued and 3,496,419
outstanding as of September 30, 2019
and March 31, 2019.






(1,972,130)






(2,186,040)

General Partner

(323,344)

(325,505)

(2,295,474)

(2,511,545)

$

418,217

$

178,285

 

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

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

4,528,570

4,395,774

Other assets

-

-

$

4,528,570

$

4,395,774

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 3,277,913
outstanding as of September 30, 2019
and March 31, 2019.






4,765,309






4,633,841

General Partner

(236,739)

(238,067)

4,528,570

4,395,774

$

4,528,570

$

4,395,774

 

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

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

3,001,732

2,541,359

Other assets

-

-

$

3,001,732

$

2,541,359

LIABILITIES

Accounts payable and accrued expenses

$

19,806

$

24,706

Accounts payable affiliates (Note C)

-

-

Capital contributions payable

-

-

19,806

24,706

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership 
interest, $10 stated value per BAC; 
101,500,000 authorized BACs; 
2,106,838 issued and 2,083,704
outstanding as of September 30, 2019
and March 31, 2019.






3,130,770






2,670,150

General Partner

(148,844)

(153,497)

2,981,926

2,516,653

$

3,001,732

$

2,541,359

 

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

 


September 30,
2019


March 31,
2019

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; 
2,512,500 issued and 2,489,100
outstanding as of September 30, 2019
and March 31, 2019.






205,359






205,359

General Partner

(205,359)

(205,359)

-

-

$

-

$

-

 

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

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

2,941,142

1,499,106

Other assets

-

-

$

2,941,142

$

1,499,106

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; 
2,543,100 issued and 2,536,200
outstanding as of September 30, 2019
and March 31, 2019.






3,130,015






1,702,399

General Partner

(188,873)

(203,293)

2,941,142

1,499,106

$

2,941,142

$

1,499,106

 

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

 

 

 


September 30,
2019


March 31,
2019

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 September 30, 2019
and March 31, 2019.






196,043






196,043

General Partner

(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

 

 

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

1,541,322

193,344

Other assets

-

-

$

1,541,322

$

193,344

LIABILITIES

Accounts payable and accrued expenses

$

5,356

$

9,500

Accounts payable affiliates (Note C)

1,075,996

2,224,213

Capital contributions payable

-

102

1,081,352

2,233,815

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership 
interest, $10 stated value per BAC; 
101,500,000 authorized BACs; 
2,630,256 issued and 2,611,356
outstanding as of September 30, 2019
and March 31, 2019.






680,314






(1,795,123)

General Partner

(220,344)

(245,348)

459,970

(2,040,471)

$

1,541,322

$

193,344

 

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

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

280,671

246,214

Other assets

-

-

$

280,671

$

246,214

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

Accounts payable affiliates (Note C)

2,581,763

2,513,609

Capital contributions payable

-

-

2,581,763

2,513,609

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership 
interest, $10 stated value per BAC; 
101,500,000 authorized BACs; 
2,891,626 issued and 2,872,426
outstanding as of September 30, 2019
and March 31, 2019.






(2,028,913)






(1,995,553)

General Partner

(272,179)

(271,842)

(2,301,092)

(2,267,395)

$

280,671

$

246,214

 

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

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

1,241,624

1,300,483

Other assets

11,300

11,300

$

1,252,924

$

1,311,783

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

Accounts payable affiliates (Note C)

-

-

Capital contributions payable

254

254

254

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 2,722,862
outstanding as of September 30, 2019
and March 31, 2019.






1,481,081






1,539,351

General Partner

(228,411)

(227,822)

1,252,670

1,311,529

$

1,252,924

$

1,311,783

 

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

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

1,433,111

414,540

Other assets

-

-

$

1,433,111

$

414,540

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

Accounts payable affiliates (Note C)

-

168,259

Capital contributions payable

-

-

-

168,259

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership 
interest, $10 stated value per BAC; 
101,500,000 authorized BACs; 
3,637,987 issued and 3,627,487
outstanding as of September 30, 2019
and March 31, 2019.






1,740,301






565,339

General Partner

(307,190)

(319,058)

1,433,111

246,281

$

1,433,111

$

414,540

 

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

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

2,743,422

113,020

Other assets

-

-

$

2,743,422

$

113,020

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

Accounts payable affiliates (Note C)

2,944,080

3,076,825

Capital contributions payable

-

-

2,944,080

3,076,825

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership 
interest, $10 stated value per BAC; 
101,500,000 authorized BACs; 
2,701,973 issued and 2,689,173
outstanding as of September 30, 2019
and March 31, 2019.






38,797






(2,696,719)

General Partner

(239,455)

(267,086)

(200,658)

(2,963,805)

$

2,743,422

$

113,020

 

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

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

802,749

916,581

Other assets

-

-

$

802,749

$

916,581

LIABILITIES

Accounts payable and accrued expenses

$

516,110

$

516,110

Accounts payable affiliates (Note C)

2,337,637

2,334,349

Capital contributions payable

16,724

16,724

2,870,471

2,867,183

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership 
interest, $10 stated value per BAC; 
101,500,000 authorized BACs; 
4,014,367 issued and 4,007,167
outstanding as of September 30, 2019
and March 31, 2019.






(1,693,383)






(1,577,434)

General Partner

(374,339)

(373,168)

(2,067,722)

(1,950,602)

$

802,749

$

916,581


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

 


September 30,
2019


March 31,
2019

INVESTMENTS IN OPERATING PARTNERSHIPS 

$

-

$

-

OTHER ASSETS

Cash and cash equivalents

350,906

321,175

Other assets

3,788

3,788

$

354,694

$

324,963

LIABILITIES

Accounts payable and accrued expenses

$

-

$

-

Accounts payable affiliates (Note C)

2,005,784

1,901,186

Capital contributions payable

-

-

2,005,784

1,901,186

PARTNERS' CAPITAL (DEFICIT)

Assignees

Units of limited partnership 
interest, $10 stated value per BAC; 
101,500,000 authorized BACs; 
2,980,998 issued and 2,965,635
outstanding as of September 30, 2019
and March 31, 2019.






(1,371,837)






(1,297,719)

General Partner

(279,253)

(278,504)

(1,651,090)

(1,576,223)

$

354,694

$

324,963

 

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 September 30,
(Unaudited)

 

 

 

 

   

2019

 

2018

Income

       

Interest income

$

88,130

$

52,135

Other income

 

104,513

 

75,634

192,643

127,769

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


6,966,046

 


1,430,313

         

Expenses

       

Professional fees

 

314,129

 

58,780

Fund management fee, net (Note C) 

 

341,092

 

404,905

General and administrative expenses

 

122,855

 

165,278

   

778,076

 

628,963

         

NET INCOME (LOSS)

$

6,380,613

$

929,119

         

Net income (loss) allocated to 
assignees


$


6,316,810


$


919,829

         

Net income (loss) allocated to general
partner


$


63,803


$


9,290

         

Net income (loss) per BAC

$

.08

$

.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 September 30,
(Unaudited)

Series 20

 

 

   

2019

 

2018

Income

Interest income

$

-

$

393

Other income

 

-

 

-

   

-

 

393

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

-

 

1,565

Fund management fee, net (Note C) 

 

-

 

2,549

General and administrative expenses

 

-

 

7,139

   

-

 

11,253

         

NET INCOME (LOSS)

$

-

$

(10,860)

         

Net income (loss) allocated to 
assignees


$


-


$


(10,751)

         

Net income (loss) allocated to general
partner


$


-


$


(109)

         

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
Three Months Ended September 30,
(Unaudited)

Series 21

 

 

 

2019

2018

Income

       

Interest income

$

-

$

-

Other income

 

-

 

-

   

-

 

-

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

-

 

-

Fund management fee, net (Note C) 

 

-

 

-

General and administrative expenses

 

-

 

-

   

-

 

-

         

NET INCOME (LOSS)

$

-

$

-

         

Net income (loss) allocated to 
assignees


$


-


$


-

         

Net income (loss) allocated to general
partner


$


-


$


-

         

Net income (loss) per BAC

$

-

$

-



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 September 30,
(Unaudited)

Series 22

 

 

 

   

2019

 

2018

Income

       

Interest income

$

-

$

591

Other income

 

-

 

-

   

-

 

591

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

-

 

1,565

Fund management fee, net (Note C) 

 

-

 

6,426

General and administrative expenses

 

-

 

6,453

   

-

 

14,444

         

NET INCOME (LOSS)

$

-

$

(13,853)

         

Net income (loss) allocated to 
assignees


$


-


$


(13,714)

         

Net income (loss) allocated to general
partner


$


-


$


(139)

         

Net income (loss) per BAC

$

-

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)

Series 23

 

 

 

   

2019

 

2018

Income

       

Interest income

$

-

$

633

Other income

 

-

 

1,977

   

-

 

2,610

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

-

 

1,686

Fund management fee, net (Note C) 

 

-

 

5,556

General and administrative expenses

 

-

 

6,983

   

-

 

14,225

         

NET INCOME (LOSS)

$

-

$

(11,615)

         

Net income (loss) allocated to 
assignees


$


-


$


(11,499)

         

Net income (loss) allocated to general
partner


$


-


$


(116)

         

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
Three Months Ended September 30,
(Unaudited)

 

Series 24

 

 

 

   

2019

 

2018

Income

Interest income

$

894

$

528

Other income

 

-

 

582

   

894

 

1,110

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

13,776

 

1,746

Fund management fee, net (Note C) 

 

10,299

 

9,594

General and administrative expenses

 

5,732

 

6,116

   

29,807

 

17,456

         

NET INCOME (LOSS)

$

(28,913)

$

(16,346)

         

Net income (loss) allocated to 
assignees


$


(28,624)


$


(16,182)

         

Net income (loss) allocated to general
partner


$


(289)


$


(164)

         

Net income (loss) per BAC

$

(.01)

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)

Series 25

 

 

 

   

2019

 

2018

Income

Interest income

$

-

$

-

Other income

 

-

 

-

   

-

 

-

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

-

 

-

Fund management fee, net (Note C) 

 

-

 

-

General and administrative expenses

 

-

 

-

   

-

 

-

         

NET INCOME (LOSS)

$

-

$

-

         

Net income (loss) allocated to 
assignees


$


-


$


-

         

Net income (loss) allocated to general
partner


$


-


$


-

         

Net income (loss) per BAC

$

-

$

-



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 September 30,
(Unaudited)

Series 26

 

 

 

   

2019

 

2018

Income

       

Interest income

$

1,312

$

1,023

Other income

 

-

 

-

   

1,312

 

1,023

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

16,317

 

2,166

Fund management fee, net (Note C) 

 

13,938

 

13,938

General and administrative expenses

 

8,365

 

7,233

   

38,620

 

23,337

         

NET INCOME (LOSS)

$

(37,308)

$

(22,314)

         

Net income (loss) allocated to 
assignees


$


(36,935)


$


(22,090)

         

Net income (loss) allocated to general
partner


$


(373)


$


(224)

         

Net income (loss) per BAC

$

(.01)

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)

Series 27

 

 

 

   

2019

 

2018

Income

       

Interest income

$

19,771

$

13,765

Other income

 

15,472

 

1,366

   

35,243

 

15,131

         

Gain on disposition of
Operating Partnerships (Note D)

 


776,922

 


-

         

Expenses

       

Professional fees

 

11,510

 

2,670

Fund management fee, net (Note C) 

 

3,635

 

5,255

General and administrative expenses

 

5,736

 

6,244

   

20,881

 

14,169

         

NET INCOME (LOSS)

$

791,284

$

962

         

Net income (loss) allocated to 
assignees


$


783,372


$


952

         

Net income (loss) allocated to general
partner


$


7,912


$


10

         

Net income (loss) per BAC

$

.32

$

.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 September 30,
(Unaudited)

Series 28

 

 

 

   

2019

 

2018

Income

       

Interest income

$

1,764

$

1,047

Other income

 

-

 

-

   

1,764

 

1,047

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


7,100

 


-

         

Expenses

       

Professional fees

 

13,529

 

1,686

Fund management fee, net (Note C) 

 

7,296

 

7,296

General and administrative expenses

 

7,829

 

7,027

   

28,654

 

16,009

         

NET INCOME (LOSS)

$

(19,790)

$

(14,962)

         

Net income (loss) allocated to 
assignees


$


(19,592)


$


(14,813)

         

Net income (loss) allocated to general
partner


$


(198)


$


(149)

         

Net income (loss) per BAC

$

(.00)

$

(.00)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)

Series 29

 

 

 

   

2019

 

2018

Income

       

Interest income

$

610

$

962

Other income

 

-

 

-

   

610

 

962

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

15,795

 

1,866

Fund management fee, net (Note C) 

 

7,260

 

7,261

General and administrative expenses

 

6,672

 

7,223

   

29,727

 

16,350

         

NET INCOME (LOSS)

$

(29,117)

$

(15,388)

         

Net income (loss) allocated to 
assignees


$


(28,826)


$


(15,234)

         

Net income (loss) allocated to general
partner


$


(291)


$


(154)

         

Net income (loss) per BAC

$

(.01)

$

(.00)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)

Series 30

 

 

 

   

2019

 

2018

Income

       

Interest income

$

-

$

789

Other income

 

-

 

-

   

-

 

789

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


17,549

         

Expenses

       

Professional fees

 

-

 

1,866

Fund management fee, net (Note C) 

 

-

 

7,462

General and administrative expenses

 

-

 

6,263

   

-

 

15,591

         

NET INCOME (LOSS)

$

-

$

2,747

         

Net income (loss) allocated to 
assignees


$


-


$


2,720

         

Net income (loss) allocated to general
partner


$


-


$


27

         

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
Three Months Ended September 30,
(Unaudited)

Series 31

 

 

 

   

2019

 

2018

Income

       

Interest income

$

6,536

$

4,528

Other income

 

-

 

-

   

6,536

 

4,528

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


31,431

 


61,952

         

Expenses

       

Professional fees

 

19,370

 

1,986

Fund management fee, net (Note C) 

 

-

 

16,535

General and administrative expenses

 

7,738

 

7,083

   

27,108

 

25,604

         

NET INCOME (LOSS)

$

10,859

$

40,876

         

Net income (loss) allocated to 
assignees


$


10,751


$


40,467

         

Net income (loss) allocated to general
partner


$


108


$


409

         

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 September 30,
(Unaudited)

Series 32

 

 

 

   

2019

 

2018

Income

       

Interest income

$

1,125

$

341

Other income

 

4,320

 

-

   

5,445

 

341

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

15,115

 

1,866

Fund management fee, net (Note C) 

 

19,794

 

19,794

General and administrative expenses

 

8,155

 

7,173

   

43,064

 

28,833

         

NET INCOME (LOSS)

$

(37,619)

$

(28,492)

         

Net income (loss) allocated to 
assignees


$


(37,243)


$


(28,207)

         

Net income (loss) allocated to general
partner


$


(376)


$


(285)

         

Net income (loss) per BAC

$

(.01)

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended September 30,

(Unaudited)

Series 33

 

 

 

   

2019

 

2018

Income

       

Interest income

$

937

$

829

Other income

 

14,427

 

2,536

   

15,364

 

3,365

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


1,442,632

 


-

         

Expenses

       

Professional fees

 

13,772

 

1,686

Fund management fee, net (Note C) 

13,316

8,898

General and administrative expenses

 

6,383

 

6,049

   

33,471

 

16,633

         

NET INCOME (LOSS)

$

1,424,525

$

(13,268)

         

Net income (loss) allocated to 
assignees


$


1,410,280


$


(13,135)

         

Net income (loss) allocated to general
partner


$


14,245


$


(133)

         

Net income (loss) per BAC

$

.54

$

(.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 September 30,
(Unaudited)

Series 34

 

 

 

   

2019

 

2018

Income

Interest income

$

825

$

540

Other income

 

2,100

 

1,539

   

2,925

 

2,079

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


257,500

 


-

         

Expenses

       

Professional fees

 

12,207

 

1,626

Fund management fee, net (Note C) 

 

11,496

 

8,166

General and administrative expenses

 

6,010

 

6,559

   

29,713

 

16,351

NET INCOME (LOSS)

$

230,712

$

(14,272)

         

Net income (loss) allocated to 
assignees


$


228,405


$


(14,130)

         

Net income (loss) allocated to general
partner


$


2,307


$

 

(142)

         

Net income (loss) per BAC

$

.07

$

(.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 September 30,
(Unaudited)

Series 35

 

 

 

   

2019

 

2018

Income

       

Interest income

$

13,538

$

8,426

Other income

 

2,180

 

-

15,718

8,426

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


141,000

 


-

         

Expenses

Professional fees

 

10,813

 

1,626

Fund management fee, net (Note C) 

 

9,847

 

4,053

General and administrative expenses

 

5,943

 

6,499

   

26,603

 

12,178

         

NET INCOME (LOSS)

$

130,115

$

(3,752)

         

Net income (loss) allocated to 
assignees


$


128,814


$


(3,715)

         

Net income (loss) allocated to general
partner


$


1,301


$


(37)

         

Net income (loss) per BAC

$

.04

$

(.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 September 30,
(Unaudited)

Series 36

 

 

 

   

2019

 

2018

Income

       

Interest income

$

10,538

$

5,249

Other income

 

-

 

-

   

10,538

 

5,249

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


243,163

         

Expenses

       

Professional fees

 

12,135

 

10,708

Fund management fee, net (Note C) 

 

2,739

 

5,990

General and administrative expenses

 

6,011

 

5,794

   

20,885

 

22,492

         

NET INCOME (LOSS)

$

(10,347)

$

225,920

         

Net income (loss) allocated to 
assignees


$


(10,244)


$


223,661

         

Net income (loss) allocated to general
partner


$


(103)


$


2,259

         

Net income (loss) per BAC

$

(.00)

$

.11



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 September 30,
(Unaudited)

Series 37

 

 

 

   

2019

 

2018

Income

Interest income

$

-

$

717

Other income

 

-

 

-

   

-

 

717

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


1,020,649

         

Expenses

       

Professional fees

 

-

 

1,566

Fund management fee, net (Note C) 

 

-

 

3,396

General and administrative expenses

 

-

 

9,704

   

-

 

14,666

         

NET INCOME (LOSS)

$

-

$

1,006,700

         

Net income (loss) allocated to 
assignees


$


-


$


996,633

         

Net income (loss) allocated to general
partner


$


-


$


10,067

         

Net income (loss) per BAC

$

-

$

.40



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 September 30,
(Unaudited)

Series 38

 

 

 

   

2019

 

2018

Income

Interest income

$

9,160

$

1,720

Other income

 

5,700

 

24,000

   

14,860

 

25,720

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

12,832

 

1,746

Fund management fee, net (Note C) 

 

(258)

 

16,581

General and administrative expenses

 

5,515

 

6,006

   

18,089

 

24,333

         

NET INCOME (LOSS)

$

(3,229)

$

1,387

         

Net income (loss) allocated to 
assignees


$


(3,196)


$


1,373

         

Net income (loss) allocated to general
partner


$


(33)


$


14

         

Net income (loss) per BAC

$

(.00)

$

.00



The accompanying notes are an integral part of this condensed statement

 

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)

Series 39

 

 

 

   

2019

 

2018

Income

       

Interest income

$

-

$

-

Other income

 

-

 

-

   

-

 

-

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

-

 

-

Fund management fee, net (Note C) 

 

-

 

-

General and administrative expenses

 

-

 

-

   

-

 

-

         

NET INCOME (LOSS)

$

-

$

-

         

Net income (loss) allocated to 
assignees


$


-


$


-

         

Net income (loss) allocated to general
partner


$


-


$


-

         

Net income (loss) per BAC

$

-

$

-



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 September 30,
(Unaudited)

Series 40

 

 

 

   

2019

 

2018

Income

       

Interest income

$

637

$

787

Other income

6,639

1,250

   

7,276

 

2,037

         

Gain on disposition of
Operating Partnerships (Note D)

 


2,554,005

 


44,500

         

Expenses

       

Professional fees

 

17,624

 

2,046

Fund management fee, net (Note C) 

 

19,612

 

21,194

General and administrative expenses

 

5,498

 

6,017

   

42,734

 

29,257

         

NET INCOME (LOSS)

$

2,518,547

$

17,280

         

Net income (loss) allocated to 
assignees


$


2,493,362


$


17,108

         

Net income (loss) allocated to general
partner


$


25,185


$


172

         

Net income (loss) per BAC

$

.95

$

.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 September 30,
(Unaudited)

Series 41

 

 

 

   

2019

 

2018

Income

       

Interest income

$

878

$

875

Other income

 

1,302

 

-

   

2,180

 

875

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

18,902

 

2,466

Fund management fee, net (Note C) 

 

31,714

 

34,076

General and administrative expenses

 

5,881

 

10,538

   

56,497

 

47,080

         

NET INCOME (LOSS)

$

(54,317)

$

(46,205)

         

Net income (loss) allocated to 
assignees


$


(53,774)


$


(45,743)

         

Net income (loss) allocated to general
partner


$


(543)


$


(462)

         

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
Three Months Ended September 30,
(Unaudited)

Series 42

 

 

 

   

2019

 

2018

Income

       

Interest income

$

4,826

$

3,873

Other income

 

4,715

 

290

   

9,541

 

4,163

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


42,500

Expenses

       

Professional fees

 

21,209

 

2,286

Fund management fee, net (Note C) 

 

23,338

 

15,249

General and administrative expenses

 

5,708

 

6,129

   

50,255

 

23,664

         

NET INCOME (LOSS)

$

(40,714)

$

22,999

         

Net income (loss) allocated to 
assignees


$


(40,306)


$


22,769

         

Net income (loss) allocated to general
partner


$


(408)


$


230

         

Net income (loss) per BAC

$

(.01)

$

.01



The accompanying notes are an integral part of this condensed statement

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)

Series 43

 

 

 

   

2019

 

2018

Income

       

Interest income

$

5,746

$

1,360

Other income

 

4,988

 

639

   

10,734

 

1,999

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


195,000

 


-

         

Expenses

       

Professional fees

 

24,014

 

2,526

Fund management fee, net (Note C) 

 

20,125

 

44,591

General and administrative expenses

 

6,184

 

7,508

   

50,323

 

54,625

         

NET INCOME (LOSS)

$

155,411

$

(52,626)

         

Net income (loss) allocated to 
assignees


$


153,857


$


(52,100)

         

Net income (loss) allocated to general
partner


$


1,554


$


(526)

         

Net income (loss) per BAC

$

.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 September 30,
(Unaudited)

Series 44

 

 

 

   

2019

 

2018

Income

       

Interest income

$

4,319

$

99

Other income

 

11,961

 

13,800

   

16,280

 

13,899

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


1,560,456

 


-

         

Expenses

       

Professional fees

 

14,791

 

1,926

Fund management fee, net (Note C) 

 

37,351

 

46,192

General and administrative expenses

 

5,658

 

6,159

   

57,800

 

54,277

         

NET INCOME (LOSS)

$

1,518,936

$

(40,378)

         

Net income (loss) allocated to 
assignees


$


1,503,747


$


(39,975)

         

Net income (loss) allocated to general
partner


$


15,189


$


(403)

         

Net income (loss) per BAC

$

.56

$

(.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 September 30,
(Unaudited)

Series 45

 

 

 

   

2019

 

2018

Income

       

Interest income

$

3,625

$

2,148

Other income

 

8,725

 

4,116

   

12,350

 

6,264

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

31,242

 

5,678

Fund management fee, net (Note C) 

 

59,591

 

47,015

General and administrative expenses

 

7,853

 

6,982

   

98,686

 

59,675

         

NET INCOME (LOSS)

$

(86,336)

$

(53,411)

         

Net income (loss) allocated to 
assignees


$


(85,473)


$


(52,877)

Net income (loss) allocated to general
partner


$


(863)


$


(534)

         

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
Three Months Ended September 30,
(Unaudited)

Series 46

 

 

 

2019

2018

Income

       

Interest income

$

1,089

$

912

Other income

 

21,984

 

23,539

   

23,073

 

24,451

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

19,176

 

2,226

Fund management fee, net (Note C) 

 

49,999

 

47,838

General and administrative expenses

 

5,984

 

6,397

   

75,159

 

56,461

         

NET INCOME (LOSS)

$

(52,086)

$

(32,010)

         

Net income (loss) allocated to 
assignees


$


(51,565)


$


(31,689)

         

Net income (loss) allocated to general
partner


$


(521)


$


(321)

         

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
Six Months Ended September 30,
(Unaudited)

 

 

 

 

   

2019

 

2018

Income

       

Interest income

$

157,936

$

102,997

Other income

 

212,121

 

262,123

370,057

365,120

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


11,850,663

 


2,619,630

         

Expenses

       

Professional fees

 

327,696

 

426,907

Fund management fee, net (Note C) 

 

585,774

 

816,630

General and administrative expenses

 

226,337

 

249,562

   

1,139,807

 

1,493,099

         

NET INCOME (LOSS)

$

11,080,913

$

1,491,651

         

Net income (loss) allocated to 
assignees


$


10,970,106


$


1,476,735

         

Net income (loss) allocated to general
partner


$


110,807


$


14,916

         

Net income (loss) per BAC

$

.13

$

.02



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 20

 

 

   

2019

 

2018

Income

Interest income

$

-

$

979

Other income

 

-

 

-

   

-

 

979

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


155,337

         

Expenses

       

Professional fees

 

-

 

11,670

Fund management fee, net (Note C) 

 

-

 

4,820

General and administrative expenses

 

-

 

11,119

   

-

 

27,609

         

NET INCOME (LOSS)

$

-

$

128,707

         

Net income (loss) allocated to 
assignees


$


-


$


127,420

         

Net income (loss) allocated to general
partner


$


-


$


1,287

         

Net income (loss) per BAC

$

-

$

.03



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 21

 

 

 

2019

2018

Income

       

Interest income

$

-

$

-

Other income

 

-

 

-

   

-

 

-

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

-

 

-

Fund management fee, net (Note C) 

 

-

 

-

General and administrative expenses

 

-

 

-

   

-

 

-

         

NET INCOME (LOSS)

$

-

$

-

         

Net income (loss) allocated to 
assignees


$


-


$


-

         

Net income (loss) allocated to general
partner


$


-


$


-

         

Net income (loss) per BAC

$

-

$

-



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 22

 

 

 

   

2019

 

2018

Income

       

Interest income

$

-

$

1,124

Other income

 

-

 

-

   

-

 

1,124

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

-

 

11,045

Fund management fee, net (Note C) 

 

-

 

12,352

General and administrative expenses

 

-

 

9,819

   

-

 

33,216

         

NET INCOME (LOSS)

$

-

$

(32,092)

         

Net income (loss) allocated to 
assignees


$


-


$


(31,771)

         

Net income (loss) allocated to general
partner


$


-


$


(321)

         

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
Six Months Ended September 30,
(Unaudited)

Series 23

 

 

 

   

2019

 

2018

Income

       

Interest income

$

-

$

1,556

Other income

 

-

 

3,955

   

-

 

5,511

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

-

 

12,601

Fund management fee, net (Note C) 

 

-

 

7,506

General and administrative expenses

 

-

 

10,844

   

-

 

30,951

         

NET INCOME (LOSS)

$

-

$

(25,440)

         

Net income (loss) allocated to 
assignees


$


-


$


(25,186)

         

Net income (loss) allocated to general
partner


$


-


$


(254)

         

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
Six Months Ended September 30,
(Unaudited)

 

Series 24

 

 

 

   

2019

 

2018

Income

Interest income

$

1,683

$

1,121

Other income

 

1,680

 

582

   

3,363

 

1,703

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

14,433

 

13,741

Fund management fee, net (Note C) 

 

18,242

 

20,355

General and administrative expenses

 

10,515

 

9,281

   

43,190

 

43,377

         

NET INCOME (LOSS)

$

(39,827)

$

(41,674)

         

Net income (loss) allocated to 
assignees


$


(39,429)


$


(41,257)

         

Net income (loss) allocated to general
partner


$


(398)


$


(417)

         

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
Six Months Ended September 30,
(Unaudited)

Series 25

 

 

 

   

2019

 

2018

Income

Interest income

$

-

$

-

Other income

 

-

 

-

   

-

 

-

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

-

 

-

Fund management fee, net (Note C) 

 

-

 

-

General and administrative expenses

 

-

 

-

   

-

 

-

         

NET INCOME (LOSS)

$

-

$

-

         

Net income (loss) allocated to 
assignees


$


-


$


-

         

Net income (loss) allocated to general
partner


$


-


$


-

         

Net income (loss) per BAC

$

-

$

-



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 26

 

 

 

   

2019

 

2018

Income

       

Interest income

$

2,437

$

1,948

Other income

 

420

 

420

   

2,857

 

2,368

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


10,500

         

Expenses

       

Professional fees

 

16,974

 

20,446

Fund management fee, net (Note C) 

 

26,876

 

28,547

General and administrative expenses

 

15,175

 

11,426

   

59,025

 

60,419

         

NET INCOME (LOSS)

$

(56,168)

$

(47,551)

         

Net income (loss) allocated to 
assignees


$


(55,606)


$


(47,075)

         

Net income (loss) allocated to general
partner


$


(562)


$


(476)

         

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
Six Months Ended September 30,
(Unaudited)

Series 27

 

 

 

   

2019

 

2018

Income

       

Interest income

$

40,073

$

26,237

Other income

 

15,472

 

1,366

   

55,545

 

27,603

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


776,922

 


-

         

Expenses

       

Professional fees

 

12,167

 

14,660

Fund management fee, net (Note C) 

 

8,890

 

12,890

General and administrative expenses

 

10,571

 

9,449

   

31,628

 

36,999

         

NET INCOME (LOSS)

$

800,839

$

(9,396)

         

Net income (loss) allocated to 
assignees


$


792,831


$


(9,302)

         

Net income (loss) allocated to general
partner


$


8,008


$


(94)

         

Net income (loss) per BAC

$

0.33

$

(.00)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 28

 

 

 

   

2019

 

2018

Income

       

Interest income

$

2,976

$

1,978

Other income

 

446

 

446

   

3,422

 

2,424

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


7,100

 


8,500

         

Expenses

       

Professional fees

 

14,186

 

12,426

Fund management fee, net (Note C) 

 

12,592

 

14,140

General and administrative expenses

 

14,207

 

10,880

   

40,985

 

37,446

         

NET INCOME (LOSS)

$

(30,463)

$

(26,522)

         

Net income (loss) allocated to 
assignees


$


(30,158)


$


(26,257)

         

Net income (loss) allocated to general
partner


$


(305)


$


(265)

         

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
Six Months Ended September 30,
(Unaudited)

Series 29

 

 

 

   

2019

 

2018

Income

       

Interest income

$

1,334

$

2,207

Other income

 

-

 

-

   

1,334

 

2,207

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


123,094

         

Expenses

       

Professional fees

 

16,452

 

15,121

Fund management fee, net (Note C) 

 

14,520

 

22,354

General and administrative expenses

 

12,503

 

11,244

   

43,475

 

48,719

         

NET INCOME (LOSS)

$

(42,141)

$

76,582

         

Net income (loss) allocated to 
assignees


$


(41,720)


$


75,816

         

Net income (loss) allocated to general
partner


$


(421)


$


766

         

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
Six Months Ended September 30,
(Unaudited)

Series 30

 

 

 

   

2019

 

2018

Income

       

Interest income

$

-

$

1,588

Other income

 

-

 

2,049

   

-

 

3,637

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


41,555

         

Expenses

       

Professional fees

 

-

 

16,371

Fund management fee, net (Note C) 

 

-

 

12,574

General and administrative expenses

 

-

 

9,423

   

-

 

38,368

         

NET INCOME (LOSS)

$

-

$

6,824

         

Net income (loss) allocated to 
assignees


$


-


$


6,756

         

Net income (loss) allocated to general
partner


$


-


$


68

         

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
Six Months Ended September 30,
(Unaudited)

Series 31

 

 

 

   

2019

 

2018

Income

       

Interest income

$

10,540

$

8,498

Other income

 

-

 

476

   

10,540

 

8,974

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


618,900

 


69,452

         

Expenses

       

Professional fees

 

20,027

 

17,126

Fund management fee, net (Note C) 

 

(59,987)

 

34,127

General and administrative expenses

 

14,489

 

11,070

   

(25,471)

 

62,323

         

NET INCOME (LOSS)

$

654,911

$

16,103

         

Net income (loss) allocated to 
assignees


$


648,362


$


15,942

         

Net income (loss) allocated to general
partner


$


6,549


$


161

         

Net income (loss) per BAC

$

.15

$

.00



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 32

 

 

 

   

2019

 

2018

Income

       

Interest income

$

2,048

$

1,611

Other income

 

4,320

 

-

   

6,368

 

1,611

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


487,880

         

Expenses

       

Professional fees

 

16,314

 

15,503

Fund management fee, net (Note C) 

 

26,588

 

41,881

General and administrative expenses

 

14,855

 

11,236

   

57,757

 

68,620

         

NET INCOME (LOSS)

$

(51,389)

$

420,871

         

Net income (loss) allocated to 
assignees


$


(50,875)


$


416,662

         

Net income (loss) allocated to general
partner


$


(514)


$


4,209

         

Net income (loss) per BAC

$

(.01)

$

.09



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,

(Unaudited)

Series 33

 

 

 

   

2019

 

2018

Income

       

Interest income

$

1,800

$

1,772

Other income

 

14,427

 

2,536

   

16,227

 

4,308

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


1,442,632

 


-

         

Expenses

       

Professional fees

 

14,971

 

13,676

Fund management fee, net (Note C) 

 

9,214

 

22,216

General and administrative expenses

 

11,574

 

9,106

   

35,759

 

44,998

         

NET INCOME (LOSS)

$

1,423,100

$

(40,690)

         

Net income (loss) allocated to 
assignees


$


1,408,869


$


(40,283)

         

Net income (loss) allocated to general
partner


$


14,231


$


(407)

         

Net income (loss) per BAC

$

.54

$

(.02)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 34

 

 

 

   

2019

 

2018

Income

Interest income

$

1,458

$

1,134

Other income

 

2,100

 

1,539

   

3,558

 

2,673

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


257,500

 


-

         

Expenses

       

Professional fees

 

12,864

 

11,736

Fund management fee, net (Note C) 

 

20,861

 

20,532

General and administrative expenses

 

11,262

 

10,036

   

44,987

 

42,304

NET INCOME (LOSS)

$

216,071

$

(39,631)

         

Net income (loss) allocated to 
assignees


$


213,910


$


(39,235)

         

Net income (loss) allocated to general
partner


$


2,161


$


(396)

         

Net income (loss) per BAC

$

.06

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 35

 

 

 

   

2019

 

2018

Income

       

Interest income

$

25,729

$

16,237

Other income

 

5,963

 

-

31,692

16,237

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


141,000

 


-

         

Expenses

Professional fees

 

11,470

 

11,911

Fund management fee, net (Note C) 

 

17,300

 

14,706

General and administrative expenses

 

11,126

 

9,942

   

39,896

 

36,559

         

NET INCOME (LOSS)

$

132,796

$

(20,322)

         

Net income (loss) allocated to 
assignees


$


131,468


$


(20,119)

         

Net income (loss) allocated to general
partner


$


1,328


$


(203)

         

Net income (loss) per BAC

$

.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
Six Months Ended September 30,
(Unaudited)

Series 36

 

 

 

   

2019

 

2018

Income

       

Interest income

$

20,501

$

9,687

Other income

 

-

 

5,119

   

20,501

 

14,806

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


476,325

 


243,163

         

Expenses

       

Professional fees

 

12,792

 

55,250

Fund management fee, net (Note C) 

 

7,911

 

11,706

General and administrative expenses

 

10,850

 

8,619

   

31,553

 

75,575

         

NET INCOME (LOSS)

$

465,273

$

182,394

         

Net income (loss) allocated to 
assignees


$


460,620


$


180,570

         

Net income (loss) allocated to general
partner


$


4,653


$


1,824

         

Net income (loss) per BAC

$

.22

$

.09



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 37

 

 

 

   

2019

 

2018

Income

Interest income

$

-

$

1,527

Other income

 

-

 

21,485

   

-

 

23,012

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


1,020,649

         

Expenses

       

Professional fees

 

-

 

11,221

Fund management fee, net (Note C) 

 

-

 

5,562

General and administrative expenses

 

-

 

12,620

   

-

 

29,403

         

NET INCOME (LOSS)

$

-

$

1,014,258

         

Net income (loss) allocated to 
assignees


$


-


$


1,004,115

         

Net income (loss) allocated to general
partner


$


-


$


10,143

         

Net income (loss) per BAC

$

-

$

.40



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 38

 

 

 

   

2019

 

2018

Income

Interest income

$

12,362

$

4,556

Other income

 

5,700

 

50,000

   

18,062

 

54,556

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


1,463,974

 


7,000

         

Expenses

       

Professional fees

 

13,489

 

12,216

Fund management fee, net (Note C) 

 

16,323

 

31,815

General and administrative expenses

 

10,188

 

9,025

   

40,000

 

53,056

         

NET INCOME (LOSS)

$

1,442,036

$

8,500

         

Net income (loss) allocated to 
assignees


$


1,427,616


$


8,415

         

Net income (loss) allocated to general
partner


$


14,420


$


85

         

Net income (loss) per BAC

$

.56

$

.00



The accompanying notes are an integral part of this condensed statement

 

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 39

 

 

 

   

2019

 

2018

Income

       

Interest income

$

-

$

-

Other income

 

-

 

-

   

-

 

-

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

-

 

-

Fund management fee, net (Note C) 

 

-

 

-

General and administrative expenses

 

-

 

-

   

-

 

-

         

NET INCOME (LOSS)

$

-

$

-

         

Net income (loss) allocated to 
assignees


$


-


$


-

         

Net income (loss) allocated to general
partner


$


-


$


-

         

Net income (loss) per BAC

$

-

$

-



The accompanying notes are an integral part of this condensed statement

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 40

 

 

 

   

2019

 

2018

Income

       

Interest income

$

1,332

$

1,418

Other income

6,639

1,250

   

7,971

 

2,668

         

Gain on disposition of
Operating Partnerships (Note D)

 


2,554,005

 


44,500

         

Expenses

       

Professional fees

 

18,281

 

16,741

Fund management fee, net (Note C) 

 

33,102

 

45,638

General and administrative expenses

 

10,152

 

9,248

   

61,535

 

71,627

         

NET INCOME (LOSS)

$

2,500,441

$

(24,459)

         

Net income (loss) allocated to 
assignees


$


2,475,437


$


(24,214)

         

Net income (loss) allocated to general
partner


$


25,004


$


(245)

         

Net income (loss) per BAC

$

.95

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 41

 

 

 

   

2019

 

2018

Income

Interest income

$

1,683

$

2,077

Other income

 

47,364

 

41,340

49,047

43,417

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


14,000

         

Expenses

       

Professional fees

 

19,559

 

24,071

Fund management fee, net (Note C) 

 

52,295

 

57,860

General and administrative expenses

 

10,890

 

14,061

   

82,744

 

95,992

         

NET INCOME (LOSS)

$

(33,697)

$

(38,575)

         

Net income (loss) allocated to 
assignees


$


(33,360)


$


(38,189)

         

Net income (loss) allocated to general
partner


$


(337)


$


(386)

         

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
Six Months Ended September 30,
(Unaudited)

Series 42

 

 

 

   

2019

 

2018

Income

       

Interest income

$

9,597

$

6,986

Other income

 

9,569

 

6,591

   

19,166

 

13,577

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


42,500

Expenses

       

Professional fees

 

21,866

 

21,826

Fund management fee, net (Note C) 

 

45,624

 

33,396

General and administrative expenses

 

10,535

 

9,319

   

78,025

 

64,541

         

NET INCOME (LOSS)

$

(58,859)

$

(8,464)

         

Net income (loss) allocated to 
assignees


$


(58,270)


$


(8,379)

         

Net income (loss) allocated to general
partner


$


(589)


$


(85)

         

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
Six Months Ended September 30,
(Unaudited)

Series 43

 

 

 

   

2019

 

2018

Income

       

Interest income

$

7,835

$

3,296

Other income

 

5,862

 

49,644

   

13,697

 

52,940

         

Gain on disposition of
Operating Partnerships (Note D)

 


1,255,582

 


9,000

         

Expenses

       

Professional fees

 

24,671

 

23,336

Fund management fee, net (Note C) 

 

46,236

 

72,674

General and administrative expenses

 

11,542

 

11,236

   

82,449

 

107,246

         

NET INCOME (LOSS)

$

1,186,830

$

(45,306)

         

Net income (loss) allocated to 
assignees


$


1,174,962


$


(44,853)

         

Net income (loss) allocated to general
partner


$


11,868


$


(453)

         

Net income (loss) per BAC

$

.32

$

(.01)



The accompanying notes are an integral part of this condensed statement

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 44

 

 

 

   

2019

 

2018

Income

       

Interest income

$

4,904

$

244

Other income

 

12,756

 

13,800

   

17,660

 

14,044

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


2,856,723

 


-

         

Expenses

       

Professional fees

 

15,448

 

14,286

Fund management fee, net (Note C) 

 

85,282

 

90,656

General and administrative expenses

 

10,506

 

9,339

   

111,236

 

114,281

         

NET INCOME (LOSS)

$

2,763,147

$

(100,237)

         

Net income (loss) allocated to 
assignees


$


2,735,516


$


(99,235)

         

Net income (loss) allocated to general
partner


$


27,631


$


(1,002)

         

Net income (loss) per BAC

$

1.02

$

(.04)



The accompanying notes are an integral part of this condensed statement

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 45

 

 

 

   

2019

 

2018

Income

       

Interest income

$

7,453

$

3,593

Other income

 

31,039

 

26,321

   

38,492

 

29,914

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


342,500

         

Expenses

       

Professional fees

 

31,899

 

31,291

Fund management fee, net (Note C) 

 

109,435

 

104,532

General and administrative expenses

 

14,278

 

11,361

   

155,612

 

147,184

         

NET INCOME (LOSS)

$

(117,120)

$

225,230

         

Net income (loss) allocated to 
assignees


$


(115,949)


$


222,978

Net income (loss) allocated to general
partner


$


(1,171)


$


2,252

         

Net income (loss) per BAC

$

(.03)

$

.06



The accompanying notes are an integral part of this condensed statement

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 46

 

 

 

2019

2018

Income

       

Interest income

$

2,191

$

1,623

Other income

 

48,364

 

33,204

   

50,555

 

34,827

         
         

Gain on disposition of
Operating Partnerships (Note D)

 


-

 


-

         

Expenses

       

Professional fees

 

19,833

 

18,636

Fund management fee, net (Note C) 

 

94,470

 

93,791

General and administrative expenses

 

11,119

 

9,859

   

125,422

 

122,286

         

NET INCOME (LOSS)

$

(74,867)

$

(87,459)

         

Net income (loss) allocated to 
assignees


$


(74,118)


$


(86,584)

         

Net income (loss) allocated to general
partner


$


(749)


$


(875)

         

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 CHANGES IN PARTNERS' CAPITAL
(DEFICIT)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 

 


 


Assignees

 

General
Partner

 


Total

             

Partners' capital
(deficit)
  April 1, 2018



$



2,931,035



$



(6,008,922)



$



(3,077,887)

             

Net income (loss)

 

556,906

 

5,626

 

562,532

             

Partners' capital
(deficit),
  June 30, 2018



$



3,487,941



$



(6,003,296)



$



(2,515,355)

             

Distributions

 

(307,853)

 

(3,110)

 

(310,963)

             

Net income (loss)

 

919,829

 

9,290

 

929,119

             

Partners' capital
(deficit),
  September 30, 2018



$



4,099,917



$



(5,997,116)



$



(1,897,199)


 

             


 


Assignees

 

General
Partner

 


Total

             

Partners' capital
(deficit)
  April 1, 2019



$



3,656,782



$



(587,493)



$



3,069,289

             

Net income (loss)

 

4,653,296

 

47,004

 

4,700,300

             

Partners' capital
(deficit)
  June 30, 2019

 



8,310,078

 



(540,489)

 



7,769,589

             

Net income (loss)

 

6,316,810

 

63,803

 

6,380,613

             

Partners' capital
(deficit),
  September 30, 2019



$



14,626,888



$



(476,686)



$



14,150,202




 






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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

Series 20

           

Partners' capital
(deficit)
  April 1, 2018



$



(882,456)



$



(320,280)



$



(1,202,736)

             

Net income (loss)

 

138,171

 

1,396

 

139,567

             

Partners' capital
(deficit),
  June 30, 2018



$



(744,285)



$



(318,884)



$



(1,063,169)

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

(10,751)

 

(109)

 

(10,860)

             

Partners' capital
(deficit),
  September 30, 2018



$



(755,036)



$



(318,993)



$



(1,074,029)


 


 


Assignees

 

General
Partner

 


Total

Series 20

           

Partners' capital
(deficit)
  April 1, 2019



$



(754,767)



$



754,767



$



-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit)
  June 30, 2019

 



(754,767)

 



754,767





-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit),
  September 30, 2019



$



(754,767)



$



754,767



$



-


 

 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited

 


 


Assignees

 

General
Partner

 


Total

Series 21

           

Partners' capital
(deficit)
  April 1, 2018



$



(898,231)



$



898,231



$



-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit),
  June 30, 2018



$



(898,231)



$



898,231



$



-

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit),
  September 30, 2018



$



(898,231)



$



898,231



$



-


 

 


 


Assignees

 

General
Partner

 


Total

Series 21

           

Partners' capital
(deficit)
  April 1, 2019



$



(898,231)



$



898,231



$



-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit)
  June 30, 2019

 



(898,231)

 



898,231





-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit),
  September 30, 2019



$



(898,231)



$



898,231



$



-


 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited

 

 

 


 


Assignees

 

General
Partner

 


Total

Series 22

           

Partners' capital
(deficit)
  April 1, 2018



$



(2,410,599)



$



(245,646)



$



(2,656,245)

             

Net income (loss)

 

(18,057)

 

(182)

 

(18,239)

             

Partners' capital
(deficit),
  June 30, 2018



$



(2,428,656)



$



(245,828)



$



(2,674,484)

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

(13,714)

 

(139)

 

(13,853)

             

Partners' capital
(deficit),
  September 30, 2018



$



(2,442,370)



$



(245,967)



$



(2,688,337)

 

 

 


 


Assignees

 

General
Partner

 


Total

Series 22

           

Partners' capital
(deficit)
  April 1, 2019



$



(2,448,362)



$



2,448,362



$



-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit)
  June 30, 2019

 



(2,448,362)

 



2,448,362





-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit),
  September 30, 2019



$



(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)

Six Months Ended September 30, 2019 and 2018
(Unaudited

 

 

 

 


 


Assignees

 

General
Partner

 


Total

Series 23

           

Partners' capital
(deficit)
  April 1, 2018



$



(197,532)



$



(289,719)



$



(487,251)

             

Net income (loss)

(13,687)

(138)

(13,825)

             

Partners' capital
(deficit),
  June 30, 2018



$



(211,219)



$



(289,857)



$



(501,076)

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

(11,499)

 

(116)

 

(11,615)

             

Partners' capital
(deficit),
  September 30, 2018



$



(222,718)



$



(289,973)



$



(512,691)

 

 

 


 


Assignees

 

General
Partner

 


Total

Series 23

           

Partners' capital
(deficit)
  April 1, 2019



$



(224,264)



$



224,264



$



-

             

Net income (loss)

-

-

-

             

Partners' capital
(deficit)
  June 30, 2019

 



(224,264)





224,264





-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit),
  September 30, 2019



$



(224,264)



$



224,264



$



-


 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 


 


Assignees

 

General
Partner

 


Total

Series 24

           

Partners' capital
(deficit)
  April 1, 2018



$



623,279



$



(174,767)



$



448,512

             

Net income (loss)

 

(25,075)

 

(253)

 

(25,328)

             

Partners' capital
(deficit),
  June 30, 2018



$



598,204



$



(175,020)



$



423,184

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

(16,182)

 

(164)

 

(16,346)

             

Partners' capital
(deficit),
  September 30, 2018



$



582,022



$



(175,184)



$



406,838


 

 


 


Assignees

 

General
Partner

 


Total

Series 24

           

Partners' capital
(deficit)
  April 1, 2019



$



577,250



$



(175,232)



$



402,018

             

Net income (loss)

 

(10,805)

 

(109)

 

(10,914)

             

Partners' capital
(deficit)
  June 30, 2019

 



566,445





(175,341)





391,104

             

Net income (loss)

 

(28,624)

 

(289)

 

(28,913)

             

Partners' capital
(deficit),
  September 30, 2019



$



537,821



$



(175,630)



$



362,191


 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 

 


 


Assignees

 

General
Partner

 


Total

Series 25

           

Partners' capital
(deficit)
  April 1, 2018



$



219,815



$



(219,815)



$



-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit),
  June 30, 2018



$



219,815



$



(219,815)



$



-

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit),
  September 30, 2018



$



219,815



$



(219,815)



$



-

 

 

 

 


 


Assignees

 

General
Partner

 


Total

Series 25

           

Partners' capital
(deficit)
  April 1, 2019



$



219,815



$



(219,815)



$



-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit)
  June 30, 2019

 



219,815





(219,815)





-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit),
  September 30, 2019



$



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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 

 

 


 


Assignees

 

General
Partner

 


Total

Series 26

           

Partners' capital
(deficit)
  April 1, 2018



$



954,178



$



(311,920)



$



642,258

             

Net income (loss)

 

(24,985)

 

(252)

 

(25,237)

             

Partners' capital
(deficit),
  June 30, 2018



$



929,193



$



(312,172)



$



617,021

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

(22,090)

 

(224)

 

(22,314)

             

Partners' capital
(deficit),
  September 30, 2018



$



907,103



$



(312,396)



$



594,707


 

 


 


Assignees

 

General
Partner

 


Total

Series 26

           

Partners' capital
(deficit)
  April 1, 2019



$



867,237



$



(312,798)



$



554,439

             

Net income (loss)

 

(18,671)

 

(189)

 

(18,860)

             

Partners' capital
(deficit)
  June 30, 2019

 



848,566





(312,987)

 



535,579

             

Net income (loss)

 

(36,935)

 

(373)

 

(37,308)

             

Partners' capital
(deficit),
  September 30, 2019



$



811,631



$



(313,360)



$



498,271


 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 

 


 


Assignees

 

General
Partner

 


Total

Series 27

           

Partners' capital
(deficit)
  April 1, 2018



$



6,938,381



$



(138,448)



$



6,799,933

             

Net income (loss)

 

(10,254)

 

(104)

 

(10,358)

             

Partners' capital
(deficit),
  June 30, 2018



$



6,928,127



$



(138,552)



$



6,789,575

             

Distributions

 

(307,853)

 

(3,110)

 

(310,963)

             

Net income (loss)

 

952

 

10

 

962

             

Partners' capital
(deficit),
  September 30, 2018



$



6,621,226



$



(141,652)



$



6,479,574


 


 


Assignees

 

General
Partner

 


Total

Series 27

           

Partners' capital
(deficit)
  April 1, 2019



$



6,641,679



$



(141,445)



$



6,500,234

             

Net income (loss)

 

9,459

 

96

 

9,555

             

Partners' capital
(deficit)
  June 30, 2019

 



6,651,138

 



(141,349)





6,509,789

             

Net income (loss)

 

783,372

 

7,912

 

791,284

             

Partners' capital
(deficit),
  September 30, 2019



$



7,434,510



$



(133,437)



$



7,301,073


 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 

   


Assignees

 

General
Partner

 


Total

Series 28

           

Partners' capital
(deficit)
  April 1, 2018



$



1,016,975



$



(274,411)



$



742,564

             

Net income (loss)

 

(11,444)

 

(116)

 

(11,560)

             

Partners' capital
(deficit),
  June 30, 2018



$



1,005,531



$



(274,527)



$



731,004

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

(14,813)

 

(149)

 

(14,962)

             

Partners' capital
(deficit),
  September 30, 2018



$



990,718



$



(274,676)



$



716,042

 

 

 


Assignees

 

General
Partner

 


Total

Series 28

           

Partners' capital
(deficit)
  April 1, 2019



$



965,536



$



(274,931)



$



690,605

             

Net income (loss)

 

(10,566)

 

(107)

 

(10,673)

             

Partners' capital
(deficit)
  June 30, 2019

 



954,970





(275,038)





679,932

             

Net income (loss)

 

(19,592)

 

(198)

 

(19,790)

             

Partners' capital
(deficit),
  September 30, 2019



$



935,378



$



(275,236)



$



660,142

 

 

 

 

 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 


 


Assignees

 

General
Partner

 


Total

Series 29

           

Partners' capital
(deficit)
  April 1, 2018



$



(2,570,004)



$



(368,028)



$



(2,938,032)

             

Net income (loss)

 

91,050

 

920

 

91,970

             

Partners' capital
(deficit),
  June 30, 2018



$



(2,478,954)



$



(367,108)



$



(2,846,062)

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

(15,234)

 

(154)

 

(15,388)

             

Partners' capital
(deficit),
  September 30, 2018



$



(2,494,188)



$



(367,262)



$



(2,861,450)


 

 


 


Assignees

 

General
Partner

 


Total

Series 29

           

Partners' capital
(deficit)
  April 1, 2019



$



(2,513,222)



$



(367,454)



$



(2,880,676)

             

Net income (loss)

 

(12,894)

 

(130)

 

(13,024)

             

Partners' capital
(deficit)
  June 30, 2019

 



(2,526,116)





(367,584)





(2,893,700)

             

Net income (loss)

 

(28,826)

 

(291)

 

(29,117)

             

Partners' capital
(deficit),
  September 30, 2019



$



(2,554,942)



$



(367,875)



$



(2,922,817)


 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 


 


Assignees

 

General
Partner

 


Total

Series 30

           

Partners' capital
(deficit)
  April 1, 2018



$



(996,782)



$



(239,418)



$



(1,236,200)

             

Net income (loss)

 

4,036

 

41

 

4,077

             

Partners' capital
(deficit),
  June 30, 2018



$



(992,746)



$



(239,377)



$



(1,232,123)

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

2,720

 

27

 

2,747

             

Partners' capital
(deficit),
  September 30, 2018



$



(990,026)



$



(239,350)



$



(1,229,376)


 

 


 


Assignees

 

General
Partner

 


Total

Series 30

           

Partners' capital
(deficit)
  April 1, 2019



$



(883,119)



$



883,119



$



-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit)
  June 30, 2019

 



(883,119)





883,119

 



-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit),
  September 30, 2019



$



(883,119)



$



883,119



$



-

 

 

 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 

 


 


Assignees

 

General
Partner

 


Total

Series 31

           

Partners' capital
(deficit)
  April 1, 2018



$



2,290,341



$



(359,955)



$



1,930,386

             

Net income (loss)

 

(24,525)

 

(248)

 

(24,773)

             

Partners' capital
(deficit),
  June 30, 2018



$



2,265,816



$



(360,203)



$



1,905,613

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

40,467

 

409

 

40,876

             

Partners' capital
(deficit),
  September 30, 2018



$



2,306,283



$



(359,794)



$



1,946,489




 


Assignees

 

General
Partner

 


Total

Series 31

           

Partners' capital
(deficit)
  April 1, 2019



$



2,313,293



$



(359,723)



$



1,953,570

             

Net income (loss)

 

637,611

 

6,441

 

644,052

             

Partners' capital
(deficit)
  June 30, 2019

 



2,950,904





(353,282)





2,597,622

             

Net income (loss)

 

10,751

 

108

 

10,859

             

Partners' capital
(deficit),
  September 30, 2019



$



2,961,655



$



(353,174)



$



2,608,481

 

 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 


 


Assignees

 

General
Partner

 


Total

Series 32

           

Partners' capital
(deficit)
  April 1, 2018



$



47,520



$



(409,988)



$



(362,468)

             

Net income (loss)

 

444,869

 

4,494

 

449,363

             

Partners' capital
(deficit),
  June 30, 2018



$



492,389



$



(405,494)



$



86,895

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

(28,207)

 

(285)

 

(28,492)

             

Partners' capital
(deficit),
  September 30, 2018



$



464,182



$



(405,779)



$



58,403


 

 


 


Assignees

 

General
Partner

 


Total

Series 32

           

Partners' capital
(deficit)
  April 1, 2019



$



458,311



$



(405,839)



$



52,472

             

Net income (loss)

 

(13,632)

 

(138)

 

(13,770)

             

Partners' capital
(deficit)
  June 30, 2019

 



444,679

 



(405,977)

 



38,702

             

Net income (loss)

 

(37,243)

 

(376)

 

(37,619)

             

Partners' capital
(deficit),
  September 30, 2019



$



407,436



$



(406,353)



$



1,083

 

 

 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 


 


Assignees

 

General
Partner

 


Total

Series 33

           

Partners' capital
(deficit)
  April 1, 2018



$



(567,133)



$



(233,789)



$



(800,922)

             

Net income (loss)

 

(27,148)

 

(274)

 

(27,422)

             

Partners' capital
(deficit),
  June 30, 2018



$



(594,281)



$



(234,063)



$



(828,344)

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

(13,135)

 

(133)

 

(13,268)

             

Partners' capital
(deficit),
  September 30, 2018



$



(607,416)



$



(234,196)



$



(841,612)




 


Assignees

 

General
Partner

 


Total

Series 33

           

Partners' capital
(deficit)
  April 1, 2019



$



(628,268)



$



(234,407)



$



(862,675)

             

Net income (loss)

 

(1,411)

 

(14)

 

(1,425)

             

Partners' capital
(deficit)
  June 30, 2019

 



(629,679)





(234,421)

 



(864,100)

             

Net income (loss)

 

1,410,280

 

14,245

 

1,424,525

             

Partners' capital
(deficit),
  September 30, 2019



$



780,601



$



(220,176)



$



560,425


 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 


 


Assignees

 

General
Partner

 


Total

Series 34

           

Partners' capital
(deficit)
  April 1, 2018



$



(2,120,686)



$



(324,845)



$



(2,445,531)

             

Net income (loss)

 

(25,105)

 

(254)

 

(25,359)

             

Partners' capital
(deficit),
  June 30, 2018



$



(2,145,791)



$



(325,099)



$



(2,470,890)

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

(14,130)

 

(142)

 

(14,272)

             

Partners' capital
(deficit),
  September 30, 2018



$



(2,159,921)



$



(325,241)



$



(2,485,162)

 

 

 


 


Assignees

 

General
Partner

 


Total

Series 34

           

Partners' capital
(deficit)
  April 1, 2019



$



(2,186,040)



$



(325,505)



$



(2,511,545)

             

Net income (loss)

 

(14,495)

 

(146)

 

(14,641)

             

Partners' capital
(deficit)
  June 30, 2019

 



(2,200,535)





(325,651)

 



(2,526,186)

             

Net income (loss)

 

228,405

 

2,307

 

230,712

             

Partners' capital
(deficit),
  September 30, 2019



$



(1,972,130)



$



(323,344)



$



(2,295,474)

 

 

 

 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 


 


Assignees

 

General
Partner

 


Total

Series 35

           

Partners' capital
(deficit)
  April 1, 2018



$



4,666,048



$



(237,742)



$



4,428,306

             

Net income (loss)

 

(16,404)

 

(166)

 

(16,570)

             

Partners' capital
(deficit),
  June 30, 2018



$



4,649,644



$



(237,908)



$



4,411,736

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

(3,715)

 

(37)

 

(3,752)

             

Partners' capital
(deficit),
  September 30, 2018



$



4,645,929



$



(237,945)



$



4,407,984


 

 


 


Assignees

 

General
Partner

 


Total

Series 35

           

Partners' capital
(deficit)
  April 1, 2019



$



4,633,841



$



(238,067)



$



4,395,774

             

Net income (loss)

 

2,654

 

27

 

2,681

             

Partners' capital
(deficit)
  June 30, 2019

 



4,636,495





(238,040)





4,398,455

             

Net income (loss)

 

128,814

 

1,301

 

130,115

             

Partners' capital
(deficit),
  September 30, 2019



$



4,765,309



$



(236,739)



$



4,528,570


 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 


 


Assignees

 

General
Partner

 


Total

Series 36

           

Partners' capital
(deficit)
  April 1, 2018



$



2,133,963



$



(158,913)



$



1,975,050

             

Net income (loss)

 

(43,091)

 

(435)

 

(43,526)

             

Partners' capital
(deficit),
  June 30, 2018



$



2,090,872



$



(159,348)



$



1,931,524

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

223,661

 

2,259

 

225,920

             

Partners' capital
(deficit),
  September 30, 2018



$



2,314,533



$



(157,089)



$



2,157,444


 

 


 


Assignees

 

General
Partner

 


Total

Series 36

           

Partners' capital
(deficit)
  April 1, 2019



$



2,670,150



$



(153,497)



$



2,516,653

             

Net income (loss)

 

470,864

 

4,756

 

475,620

             

Partners' capital
(deficit)
  June 30, 2019

 



3,141,014





(148,741)

 



2,992,273

             

Net income (loss)

 

(10,244)

 

(103)

 

(10,347)

             

Partners' capital
(deficit),
  September 30, 2019



$



3,130,770



$



(148,844)



$



2,981,926


 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 

 


 


Assignees

 

General
Partner

 


Total

Series 37

           

Partners' capital
(deficit)
  April 1, 2018



$



220,255



$



(215,517)



$



4,738

Net income (loss)

 

7,482

 

76

 

7,558

             

Partners' capital
(deficit),
  June 30, 2018



$



227,737



$



(215,441)



$



12,296

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

996,633

 

10,067

 

1,006,700

             

Partners' capital
(deficit),
  September 30, 2018



$



1,224,370



$



(205,374)



$



1,018,996

 

 


 


Assignees

 

General
Partner

 


Total

Series 37

           

Partners' capital
(deficit)
  April 1, 2019



$



205,359



$



(205,359)



$



-

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit)
  June 30, 2019

 



205,359

 



(205,359)

 



-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit),
  September 30, 2019



$



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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 


 


Assignees

 

General
Partner

 


Total

Series 38

           

Partners' capital
(deficit)
  April 1, 2018



$



1,677,456



$



(203,545)



$



1,473,911

Net income (loss)

7,042

71

7,113

Partners' capital
(deficit),
  June 30, 2018



$



1,684,498



$



(203,474)



$



1,481,024

Distributions

-

-

-

Net income (loss)

1,373

14

1,387

Partners' capital
(deficit),
  September 30, 2018



$



1,685,871



$



(203,460)



$



1,482,411


 

 


 


Assignees

 

General
Partner

 


Total

Series 38

           

Partners' capital
(deficit)
  April 1, 2019



$



1,702,399



$



(203,293)



$



1,499,106

Net income (loss)

1,430,812

14,453

1,445,265

Partners' capital
(deficit)
  June 30, 2019



3,133,211





(188,840)





2,944,371

Net income (loss)

(3,196)

(33)

(3,229)

Partners' capital
(deficit),
  September 30, 2019



$



3,130,015



$



(188,873)



$



2,941,142


 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 

 


 


Assignees

 

General
Partner

 


Total

Series 39

           

Partners' capital
(deficit)
  April 1, 2018



$



196,043



$



(196,043)



$



-

             

Net income (loss)

-

-

-

             

Partners' capital
(deficit),
  June 30, 2018



$



196,043



$



(196,043)



$



-

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit),
  September 30, 2018



$



196,043



$



(196,043)



$



-


 


 


Assignees

 

General
Partner

 


Total

Series 39

           

Partners' capital
(deficit)
  April 1, 2019



$



196,043



$



(196,043)



$



-

             

Net income (loss)

-

-

-

             

Partners' capital
(deficit)
  June 30, 2019

 



196,043





(196,043)





-

             

Net income (loss)

 

-

 

-

 

-

             

Partners' capital
(deficit),
  September 30, 2019



$



196,043



$



(196,043)



$



-


 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 


 


Assignees

 

General
Partner

 


Total

Series 40

           

Partners' capital
(deficit)
  April 1, 2018



$



(1,737,068)



$



(244,762)



$



(1,981,830)

             

Net income (loss)

 

(41,322)

 

(417)

 

(41,739)

             

Partners' capital
(deficit),
  June 30, 2018



$



(1,778,390)



$



(245,179)



$



(2,023,569)

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

17,108

 

172

 

17,280

             

Partners' capital
(deficit),
  September 30, 2018



$



(1,761,282)



$



(245,007)



$



(2,006,289)

 

 

 


 


Assignees

 

General
Partner

 


Total

Series 40

           

Partners' capital
(deficit)
  April 1, 2019



$



(1,795,123)



$



(245,348)



$



(2,040,471)

             

Net income (loss)

 

(17,925)

 

(181)

 

(18,106)

             

Partners' capital
(deficit)
  June 30, 2019

 



(1,813,048)





(245,529)





(2,058,577)

             

Net income (loss)

 

2,493,362

 

25,185

 

2,518,547

             

Partners' capital
(deficit),
  September 30, 2019



$



680,314



$



(220,344)



$



459,970

 

 

 

 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 


 


Assignees

 

General
Partner

 


Total

Series 41

           

Partners' capital
(deficit)
  April 1, 2018



$



(1,881,761)



$



(270,693)



$



(2,152,454)

             

Net income (loss)

 

7,554

 

76

 

7,630

             

Partners' capital
(deficit),
  June 30, 2018



$



(1,874,207)



$



(270,617)



$



(2,144,824)

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

(45,743)

 

(462)

 

(46,205)

             

Partners' capital
(deficit),
  September 30, 2018



$



(1,919,950)



$



(271,079)



$



(2,191,029)


 

 


 


Assignees

 

General
Partner

 


Total

Series 41

           

Partners' capital
(deficit)
  April 1, 2019



$



(1,995,553)



$



(271,842)



$



(2,267,395)

             

Net income (loss)

 

20,414

 

206

 

20,620

             

Partners' capital
(deficit)
  June 30, 2019

 



(1,975,139)

 



(271,636)





(2,246,775)

             

Net income (loss)

 

(53,774)

 

(543)

 

(54,317)

             

Partners' capital
(deficit),
  September 30, 2019



$



(2,028,913)



$



(272,179)



$



(2,301,092)


 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)


 


Assignees

 

General
Partner

 


Total

Series 42

           

Partners' capital
(deficit)
  April 1, 2018



$



1,565,620



$



(227,557)



$



1,338,063

             

Net income (loss)

 

(31,148)

 

(315)

 

(31,463)

             

Partners' capital
(deficit),
  June 30, 2018



$



1,534,472



$



(227,872)



$



1,306,600

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

22,769

 

230

 

22,999

             

Partners' capital
(deficit),
  September 30, 2018



$



1,557,241



$



(227,642)



$



1,329,599


 


 


Assignees

 

General
Partner

 


Total

Series 42

           

Partners' capital
(deficit)
  April 1, 2019



$



1,539,351



$



(227,822)



$



1,311,529

             

Net income (loss)

 

(17,964)

 

(181)

 

(18,145)

             

Partners' capital
(deficit)
  June 30, 2019

 



1,521,387





(228,003)





1,293,384

             

Net income (loss)

 

(40,306)

 

(408)

 

(40,714)

             

Partners' capital
(deficit),
  September 30, 2019



$



1,481,081



$



(228,411)



$



1,252,670


 

 

 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 

 


 


Assignees

 

General
Partner

 


Total

Series 43

           

Partners' capital
(deficit)
  April 1, 2018



$



235,085



$



(322,394)



$



(87,309)

             

Net income (loss)

 

7,247

 

73

 

7,320

             

Partners' capital
(deficit),
  June 30, 2018



$



242,332



$



(322,321)



$



(79,989)

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

(52,100)

 

(526)

 

(52,626)

             

Partners' capital
(deficit),
  September 30, 2018



$



190,232



$



(322,847)



$



(132,615)

 

 

 


 


Assignees

 

General
Partner

 


Total

Series 43

           

Partners' capital
(deficit)
  April 1, 2019



$



565,339



$



(319,058)



$



246,281

             

Net income (loss)

 

1,021,105

 

10,314

 

1,031,419

             

Partners' capital
(deficit)
  June 30, 2019

 



1,586,444





(308,744)





1,277,700

             

Net income (loss)

 

153,857

 

1,554

 

155,411

             

Partners' capital
(deficit),
  September 30, 2019



$



1,740,301



$



(307,190)



$



1,433,111

 

 

 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(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)

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

(39,975)

 

(403)

 

(40,378)

             

Partners' capital
(deficit),
  September 30, 2018



$



(2,580,447)



$



(265,911)



$



(2,846,358)


 

 


 


Assignees

 

General
Partner

 


Total

Series 44

           

Partners' capital
(deficit)
  April 1, 2019



$



(2,696,719)



$



(267,086)



$



(2,963,805)

             

Net income (loss)

 

1,231,769

 

12,442

 

1,244,211

             

Partners' capital
(deficit)
  June 30, 2019

 



(1,464,950)





(254,644)





(1,719,594)

             

Net income (loss)

 

1,503,747

 

15,189

 

1,518,936

             

Partners' capital
(deficit),
  September 30, 2019



$



38,797



$



(239,455)



$



(200,658)


 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 

 


 


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)

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

(52,877)

 

(534)

 

(53,411)

             

Partners' capital
(deficit),
  September 30, 2018



$



(1,762,439)



$



(375,037)



$



(2,137,476)


 


 


Assignees

 

General
Partner

 


Total

Series 45

           

Partners' capital
(deficit)
  April 1, 2019



$



(1,577,434)



$



(373,168)



$



(1,950,602)

             

Net income (loss)

(30,476)

(308)

(30,784)

             

Partners' capital
(deficit)
  June 30, 2019

 



(1,607,910)

 



(373,476)

 



(1,981,386)

             

Net income (loss)

 

(85,473)

 

(863)

 

(86,336)

             

Partners' capital
(deficit),
  September 30, 2019



$



(1,693,383)



$



(374,339)



$



(2,067,722)


 

 

 

 

 

 

 

 

 

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)

Six Months Ended September 30, 2019 and 2018
(Unaudited)

 


 


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)

             

Distributions

 

-

 

-

 

-

             

Net income (loss)

 

(31,689)

 

(321)

 

(32,010)

             

Partners' capital
(deficit),
  September 30, 2018



$



(1,211,627)



$



(277,635)



$



(1,489,262)

 

 

 


 


Assignees

 

General
Partner

 


Total

Series 46

           

Partners' capital
(deficit)
  April 1, 2019



$



(1,297,719)



$



(278,504)



$



(1,576,223)

             

Net income (loss)

 

(22,553)

 

(228)

 

(22,781)

             

Partners' capital
(deficit)
  June 30, 2019

 



(1,320,272)





(278,732)





(1,599,004)

             

Net income (loss)

 

(51,565)

 

(521)

 

(52,086)

             

Partners' capital
(deficit),
  September 30, 2019



$



(1,371,837)



$



(279,253)



$



(1,651,090)

 

 

 

 

 

 

 

 

 

 

 

 


The accompanying notes are an integral part of this condensed statement

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

11,080,913

$

1,491,651

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

       

Gain on disposition of 
   Operating Partnerships

 


(11,850,663)

 


(2,619,630)

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


(9,044)

 


6,000

(Decrease) Increase in accounts
   payable affiliates

 


(2,345,707)

 


(3,839,107)

Net cash (used in) provided by 
operating activities

 


(3,124,501)

 


(4,961,086)

Cash flows from investing activities:

Proceeds from the disposition of     Operating Partnerships

 


11,850,561

 


2,580,529

Net cash provided by
investing activities

 


11,850,561

 


2,580,529

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

(310,963)

Net cash used in
financing activities

 


-

 


(310,963)

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


8,726,060

 


(2,691,520)

Cash and cash equivalents, beginning

 

22,926,529

 

27,208,717

Cash and cash equivalents, ending

$

31,652,589

$

24,517,197

 


Supplemental schedule of noncash

investing and financing activities:

 

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




$




25,000




$




-

 

 

 

The accompanying notes are an integral part of this condensed statement






 

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 20

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

-

$

128,707

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

       

Gain on disposition of 
   Operating Partnerships



-

 


(155,337)

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


(188,017)

Net cash (used in) provided by 
operating activities

 


-

 


(214,647)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


-

 


155,337

Net cash provided by
investing activities

 


-

 


155,337

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


-

 


(59,310)

Cash and cash equivalents, beginning

 

-

 

241,987

Cash and cash equivalents, ending

$

-

$

182,677

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 21

 

   

2019

 

2018

Cash flows from operating activities:

Net income (loss)

$

-

$

-

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

       

Gain on disposition of 
   Operating Partnerships

 


-

 


-

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


-

 


-

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


-

 


-

Net cash provided by
investing activities

 


-

 


-

-

-

Cash flows from financing activities:

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


-

 


-

Cash and cash equivalents, beginning

 

-

 

-

Cash and cash equivalents, ending

$

-

$

-

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 22

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

-

$

(32,092)

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

       

Gain on disposition of 
   Operating Partnerships

 


-

 


-

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


(12,148)

Net cash (used in) provided by 
operating activities

 


-

 


(44,240)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


-

 


-

Net cash provided by
investing activities

 


-

 


-

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


-

 


(44,240)

Cash and cash equivalents, beginning

 

-

 

221,864

Cash and cash equivalents, ending

$

-

$

177,624

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 23

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

-

$

(25,440)

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

       

Gain on disposition of 
   Operating Partnerships


-


-

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


(238,888)

Net cash (used in) provided by 
operating activities

 


-

 


(264,328)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


-

 


-

Net cash provided by
investing activities

 


-

 


-

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


-

 


(264,328)

Cash and cash equivalents, beginning

 

-

 

446,136

Cash and cash equivalents, ending

$

-

$

181,808

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 24

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

(39,827)

$

(41,674)

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

       

Gain on disposition of 
   Operating Partnerships

 


-

 


-

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


(5,000)

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities



(39,827)

 


(46,674)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


-

 


-

Net cash provided by
investing activities

 


-

 


-

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(39,827)

 


(46,674)

Cash and cash equivalents, beginning

 

402,018

 

453,512

Cash and cash equivalents, ending

$

362,191

$

406,838

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 25

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

-

$

-

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

       

Gain on disposition of 
   Operating Partnerships

 


-

 


-

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


-

 


-

Cash flows from investing activities:

Proceeds from the disposition of     Operating Partnerships

 


-

 


-

Net cash provided by
investing activities

 


-

 


-

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


-

 


-

Cash and cash equivalents, beginning

 

-

 

-

Cash and cash equivalents, ending

$

-

$

-

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,

(Unaudited)

Series 26

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

(56,168)

$

(47,551)

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

       

Gain on disposition of 
   Operating Partnerships

 


-

 


(10,500)

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


(56,168)

 


(58,051)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


-

 


10,500

Net cash provided by
investing activities

 


-

 


10,500

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(56,168)

 


(47,551)

Cash and cash equivalents, beginning

 

554,439

 

642,258

Cash and cash equivalents, ending

$

498,271

$

594,707

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 27

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

800,839

$

(9,396)

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

       

Gain on disposition of 
   Operating Partnerships

 


(776,922)

 


-

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


23,917

 


(9,396)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


776,922

 


-

Net cash provided by
investing activities

 


776,922

 


-

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

(310,963)

Net cash used in
financing activities

 


-

 


(310,963)

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


800,839

 


(320,359)

Cash and cash equivalents, beginning

 

6,500,234

 

6,799,933

Cash and cash equivalents, ending

$

7,301,073

$

6,479,574

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 28

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

(30,463)

$

(26,522)

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

       

Gain on disposition of 
   Operating Partnerships

 


(7,100)

 


(8,500)

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


(37,563)

 


(35,022)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


7,100

 


8,500

Net cash provided by
investing activities

 


7,100

 


8,500

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(30,463)

 


(26,522)

Cash and cash equivalents, beginning

 

690,605

 

742,564

Cash and cash equivalents, ending

$

660,142

$

716,042

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,

(Unaudited)

Series 29

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

(42,141)

$

76,582

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

       

Gain on disposition of 
   Operating Partnerships

 


-

 


(123,094)

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


14,520

 


(497,247)

Net cash (used in) provided by 
operating activities

 


(27,621)

 


(543,759)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


-

 


122,994

Net cash 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

 


(27,621)

 


(420,765)

Cash and cash equivalents, beginning

 

196,944

 

622,414

Cash and cash equivalents, ending

$

169,323

$

201,649

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 30

 

   

2019

 

2018

Cash flows from operating activities:

Net income (loss)

$

-

$

6,824

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

       

Gain on disposition of 
   Operating Partnerships


-


(41,555)

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


3,000

(Decrease) Increase in accounts
   payable affiliates

 


-

 


(166,736)

Net cash (used in) provided by 
operating activities

 


-

 


(198,467)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


-

 


25,006

Net cash provided by
investing activities

 


-

 


25,006

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


-

 


(173,461)

Cash and cash equivalents, beginning

 

-

 

453,433

Cash and cash equivalents, ending

$

-

$

279,972

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 31

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

654,911

$

16,103

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

       

Gain on disposition of 
   Operating Partnerships

 

(618,900)

 

(69,452)

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


2,500

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


36,011

 


(50,849)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


618,900

 


47,000

Net cash provided by
investing activities

 


618,900

 


47,000

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


654,911

 


(3,849)

Cash and cash equivalents, beginning

 

1,953,570

 

1,971,680

Cash and cash equivalents, ending

$

2,608,481

$

1,967,831

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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




$




25,000




$




-

 


The accompanying notes are an integral part of this condensed statement

 

 

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 32

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

(51,389)

$

420,871

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

       

Gain on disposition of 
   Operating Partnerships

 


-

 


(487,880)

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


(11,620)

 


(745,999)

Net cash (used in) provided by 
operating activities

 


(63,009)

 


(813,008)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


-

 


487,880

Net cash provided by
investing activities

 


-

 


487,880

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(63,009)

 


(325,128)

Cash and cash equivalents, beginning

 

272,226

 

563,697

Cash and cash equivalents, ending

$

209,217

$

238,569

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 33

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

1,423,100

$

(40,690)

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

       

Gain on disposition of 
   Operating Partnerships

 


(1,442,632)

 


-

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


(1,099,287)

 


(180,304)

Net cash (used in) provided by 
operating activities

 


(1,118,819)

 


(220,994)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


1,442,632

 


-

Net cash provided by
investing activities

 


1,442,632

 


-

-

-

Cash flows from financing activities:

       

Distributions

-

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


323,813

 


(220,994)

Cash and cash equivalents, beginning

 

236,612

 

452,033

Cash and cash equivalents, ending

$

560,425

$

231,039

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 34

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

216,071

$

(39,631)

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

       

Gain on disposition of 
   Operating Partnerships

 


(257,500)

 


-

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


23,861

 


(125,268)

Net cash (used in) provided by 
operating activities

 


(17,568)

 


(164,899)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


257,500

 


-

Net cash provided by
investing activities

 


257,500

 


-

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


239,932

 


(164,899)

Cash and cash equivalents, beginning

 

178,285

 

394,837

Cash and cash equivalents, ending

$

418,217

$

229,938

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 35

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

132,796

$

(20,322)

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

       

Gain on disposition of 
   Operating Partnerships

 


(141,000)

 


-

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


(8,204)

 


(20,322)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 

 


141,000

 


-

Net cash provided by
investing activities

 


141,000

 


-

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


132,796

 


(20,322)

Cash and cash equivalents, beginning

 

4,395,774

 

4,428,306

Cash and cash equivalents, ending

$

4,528,570

$

4,407,984

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 36

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

465,273

$

182,394

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

       

Gain on disposition of 
   Operating Partnerships

 


(476,325)

 


(243,163)

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


(4,900)

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


(15,952)

 


(60,769)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


476,325

 


243,163

Net cash provided by
investing activities

 


476,325

 


243,163

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


460,373

 


182,394

Cash and cash equivalents, beginning

 

2,541,359

 

2,106,050

Cash and cash equivalents, ending

$

3,001,732

$

2,288,444

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 37

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

-

$

1,014,258

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

       

Gain on disposition of 
   Operating Partnerships

 


-

 


(1,020,649)

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


(513,149)

Net cash (used in) provided by 
operating activities

 


-

 


(519,540)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


-

 


1,020,649

Net cash provided by
investing activities

 


-

 


1,020,649

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


-

 


501,109

Cash and cash equivalents, beginning

 

-

 

517,887

Cash and cash equivalents, ending

$

-

$

1,018,996

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 38

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

1,442,036

$

8,500

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

       

Gain on disposition of 
   Operating Partnerships

 


(1,463,974)

 


(7,000)

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


(18,234)

Net cash (used in) provided by 
operating activities

 


(21,938)

 


(16,734)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


1,463,974

 


7,000

Net cash provided by
investing activities

 


1,463,974

 


7,000

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


1,442,036

 


(9,734)

Cash and cash equivalents, beginning

 

1,499,106

 

1,492,145

Cash and cash equivalents, ending

$

2,941,142

$

1,482,411

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 39

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

-

$

-

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

       

Gain on disposition of 
   Operating Partnerships

 


-

 


-

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 


-

Net cash (used in) provided by 
operating activities

 


-

 


-

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


-

 


-

Net cash provided by
investing activities

 


-

 


-

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


-

 


-

Cash and cash equivalents, beginning

 

-

 

-

Cash and cash equivalents, ending

$

-

$

-

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 40

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

2,500,441

$

(24,459)

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

Gain on disposition of 
   Operating Partnerships

 


(2,554,005)

 


(44,500)

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


(4,144)

 


5,500

(Decrease) Increase in accounts
   payable affiliates

 


(1,148,217)

 


(171,812)

Net cash (used in) provided by 
operating activities

 


(1,205,925)

 


(235,271)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


2,553,903

 


44,500

Net cash provided by
investing activities

 


2,553,903

 


44,500

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


1,347,978

 


(190,771)

Cash and cash equivalents, beginning

 

193,344

 

431,341

Cash and cash equivalents, ending

$

1,541,322

$

240,570

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 41

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

(33,697)

$

(38,575)

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

       

Gain on disposition of 
   Operating Partnerships

 


-

 


(14,000)

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


68,154

 


(448,150)

Net cash (used in) provided by 
operating activities

 


34,457

 


(500,725)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


-

 


14,000

Net cash provided by
investing activities

 


-

 


14,000

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


34,457

 


(486,725)

Cash and cash equivalents, beginning

 

246,214

 

741,152

Cash and cash equivalents, ending

$

280,671

$

254,427

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 42

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

(58,859)

$

(8,464)

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

       

Gain on disposition of 
   Operating Partnerships

 


-

 


(42,500)

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


-

 

 

-

Net cash (used in) provided by 
operating activities

 


(58,859)

 


(50,964)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


-

 


42,500

Net cash provided by
investing activities

 


-

 


42,500

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(58,859)

 


(8,464)

Cash and cash equivalents, beginning

 

1,300,483

 

1,327,017

Cash and cash equivalents, ending

$

1,241,624

$

1,318,553

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 43

 

   

2018

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

1,186,830

$

(45,306)

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

       

Gain on disposition of 
   Operating Partnerships

 


(1,255,582)

 


(9,000)

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


(168,259)

 


(475,580)

Net cash (used in) provided by 
operating activities

 


(237,011)

 


(529,886)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


1,255,582

 


9,000

Net cash provided by
investing activities

 


1,255,582

 


9,000

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


1,018,571

 


(520,886)

Cash and cash equivalents, beginning

 

414,540

 

854,364

Cash and cash equivalents, ending

$

1,433,111

$

333,478

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)

Series 44

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

2,763,147

$

(100,237)

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

       

Gain on disposition of 
   Operating Partnerships

 


(2,856,723)

 


-

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


(132,745)

 


122,738

Net cash (used in) provided by 
operating activities

 


(226,321)

 


22,501

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


2,856,723

 


-

Net cash provided by
investing activities

 


2,856,723

 


-

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


2,630,402

 


22,501

Cash and cash equivalents, beginning

 

113,020

 

84,006

Cash and cash equivalents, ending

$

2,743,422

$

106,507

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)


Series 45

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

(117,120)

$

225,230

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

       

Gain on disposition of 
   Operating Partnerships

 


-

 


(342,500)

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


3,288

 


(104,911)

Net cash (used in) provided by 
operating activities

 


(113,832)

 


(222,181)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


-

 


342,500

Net cash provided by
investing activities

 


-

 


342,500

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


(113,832)

 


120,319

Cash and cash equivalents, beginning

 

916,581

 

753,702

Cash and cash equivalents, ending

$

802,749

$

874,021

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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

Six Months Ended September 30,
(Unaudited)


Series 46

 

   

2019

 

2018

Cash flows from operating activities:

       

Net income (loss)

$

(74,867)

$

(87,459)

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

       

Gain on disposition of 
   Operating Partnerships

 


-

 


-

Changes in assets and liabilities

       

(Decrease) Increase in accounts
   payable and accrued expenses

 

 


-

 


-

(Decrease) Increase in accounts
   payable affiliates

 


104,598

 


(75,402)

Net cash (used in) provided by 
operating activities

 


29,731

 


(162,861)

Cash flows from investing activities:

       

Proceeds from the disposition of     Operating Partnerships

 


-

 


-

Net cash provided by
investing activities

 


-

 


-

-

-

Cash flows from financing activities:

       

Distributions

 

-

 

-

Net cash used in
financing activities

 


-

 


-

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

 


29,731

 


(162,861)

Cash and cash equivalents, beginning

 

321,175

 

466,399

Cash and cash equivalents, ending

$

350,906

$

303,538

 

 

Supplemental schedule of noncash

investing and financing activities:

 

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
September 30, 2019
(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
September 30, 2019
(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 September 30, 2019 and for the three and six 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, 2019.

 

 

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2019
(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 September 30, 2019 and 2018, are as follows:

 

 

2019

2018

Series 20

$      -

$  2,549

Series 21

-

-

Series 22

-

6,426

Series 23

-

5,556

Series 24

10,299

10,761

Series 25

-

-

Series 26

13,938

13,938

Series 27

7,635

7,635

Series 28

7,296

7,296

Series 29

7,260

7,261

Series 30

-

7,462

Series 31

-

16,535

Series 32

19,794

19,794

Series 33

13,316

13,318

Series 34

11,496

12,366

Series 35

9,847

10,653

Series 36

2,739

5,990

Series 37

-

3,396

Series 38

2,742

16,581

Series 39

-

-

Series 40

19,612

26,594

Series 41

34,077

34,076

Series 42

23,790

27,505

Series 43

24,400

45,091

Series 44

48,187

57,826

Series 45

59,644

67,565

Series 46

 52,299

 52,299

 

$368,371

$478,473

     

 

 

 

 

 

 

 

 

 

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2019
(Unaudited)

NOTE C - RELATED PARTY TRANSACTIONS (continued)

The fund management fees paid for the six months ended September 30, 2019 and 2018 are as follows:

2019

2018

Series 20

$        -

$  193,337

Series 22

-

25,000

Series 23

-

250,000

Series 24

20,598

21,522

Series 26

27,876

29,547

Series 27

15,270

15,270

Series 28

14,592

16,140

Series 29

-

519,601

Series 30

-

185,027

Series 31

4,308

35,627

Series 32

51,208

787,880

Series 33

1,125,921

206,940

Series 34

-

150,000

Series 35

20,500

21,306

Series 36

7,911

13,616

Series 37

-

526,729

Series 38

19,323

53,049

Series 40

1,188,699

225,000

Series 41

-

520,930

Series 42

 47,580

 56,839

Series 43

  223,770

  566,306

Series 45

116,000

242,500

Series 46

        -

  180,000

$2,883,556

$4,842,166

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS

At September 30, 2019 and 2018, the Fund has limited partnership interests in 112 and 150 Operating Partnerships, respectively, which own or are constructing apartment complexes.

The breakdown of Operating Partnerships within the Fund at September 30, 2019 and 2018 are as follows:

 

2019

2018

Series 20

-

1

Series 21

-

-

Series 22

-

3

Series 23

-

3

Series 24

4

5

Series 25

-

-

Series 26

8

8

Series 27

2

3

Series 28

3

4

Series 29

5

5

Series 30

-

2

Series 31

-

6

Series 32

5

5

Series 33

2

3

Series 34

3

4

Series 35

1

2

Series 36

1

2

Series 37

-

-

Series 38

1

3

Series 39

-

-

Series 40

5

8

Series 41

11

11

Series 42

9

10

Series 43

11

16

Series 44

5

7

Series 45

22

25

Series 46

 14

 14

 

112

150

 

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 September 30, 2019 and 2018, are as follows:

2019

2018

Series 29

$    785

$    785

Series 30

-

48,627

Series 31

-

43,842

Series 32

1,229

1,229

Series 40

-

102

Series 42

254

254

Series 43

-

26,082

Series 45

 16,724

 16,724

 

$ 18,992

$137,645

 

 

   

Boston Capital Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2019
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

 

During the six months ended September 30, 2019 the Fund disposed of fifteen Operating Partnerships. A summary of the dispositions by Series for September 30, 2019 is as follows:

 

 

Operating Partnership Interest Transferred

 

Sale of Underlying Operating Partnership

 

Fund Proceeds from Disposition *

 

Gain on Disposition

Series 27

-

1

$

776,922

$

776,922

Series 28

1

 

-

   

7,100

   

7,100

Series 31

-

 

1

   

618,900

   

618,900

Series 33

-

 

1

   

1,442,632

   

1,442,632

Series 34

1

 

-

   

257,500

   

257,500

Series 35

1

 

-

   

141,000

   

141,000

Series 36

-

 

1

   

476,325

   

476,325

Series 38

1

 

1

   

1,463,974

   

1,463,974

Series 40

1

 

1

   

2,553,903

   

2,554,005

Series 43

1

 

1

   

1,255,582

   

1,255,582

Series 44

-

 

2

   

2,856,723

   

2,856,723

Total

6

 

9

 

$

11,850,561

 

$

11,850,663

* Fund proceeds from disposition does not include $102, which was due to a writeoff of capital contribution payable as of September 30, 2019, for Series 40.

 

During the six months ended September 30, 2018 the Fund disposed of nineteen Operating Partnerships. A summary of the dispositions by Series for September 30, 2018 is as follows:

 

 

Operating Partnership Interest Transferred

 

Sale of Underlying Operating Partnership

 

Fund Proceeds from Disposition *

 

Gain on Disposition

Series 20

1

-

$

155,337

$

155,337

Series 26

1

 

-

   

10,500

   

10,500

Series 28

1

 

-

   

8,500

   

8,500

Series 29

2

 

-

   

122,994

   

123,094

Series 30

3

 

-

   

25,006

   

41,555

Series 31

2

 

-

   

47,000

   

69,452

Series 32

-

 

1

   

487,880

   

487,880

Series 36

-

 

1

   

243,163

   

243,163

Series 37

-

 

1

   

1,020,649

   

1,020,649

Series 38

1

 

-

   

7,000

   

7,000

Series 40

1

 

-

   

44,500

   

44,500

Series 41

-

 

1

   

14,000

   

14,000

Series 42

1

 

-

   

42,500

   

42,500

Series 43

1

 

-

   

9,000

   

9,000

Series 45

1

 

-

   

342,500

   

342,500

Total

15

 

4

 

$

2,580,529

 

$

2,619,630

 

* Fund proceeds from disposition does not include $100, $16,549 and $22,452, which was due to a writeoff of capital contribution payable as of September 30, 2018, for Series 29, Series 30 and Series 31, respectively.

 

 

 

 

Boston Capital Tax Credit Fund IV L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2019
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

 

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.

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 six months ended June 30, 2019.

 

 

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

 

2019

2018

     

Revenues

   
 

Rental

$  17,098,171

$  22,343,323

 

Interest and other

     414,231

     663,683

 

  17,512,402

  23,007,006

     

Expenses

   
 

Interest

2,779,787

3,644,356

 

Depreciation and amortization

4,213,607

5,775,862

 

Operating expenses

  12,566,968

  16,122,850

 

  19,560,362

  25,543,068

     

NET LOSS

$ (2,047,960)

$ (2,536,062)

     

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


$ (2,027,484)


$ (2,510,699)

     

Net loss allocated to other
Partners


$    (20,476)


$    (25,363)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 20

 

 

 

2019

2018

Revenues

   
 

Rental

$         -

$   139,480

 

Interest and other

         -

     9,921

 

         -

   149,401

     

Expenses

   
 

Interest

-

11,732

 

Depreciation and amortization

-

28,416

 

Operating expenses

         -

   124,517

 

         -

   164,665

     

NET LOSS

$         -

$  (15,264)

     

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


$         -


$  (15,111)

     

Net loss allocated to other
Partners


$         -


$     (153)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 21

 

 

 

2019

2018

Revenues

   
 

Rental

$         -

$         -

 

Interest and other

         -

         -

 

         -

         -

     

Expenses

   
 

Interest

-

-

 

Depreciation and amortization

-

-

 

Operating expenses

         -

         -

 

         -

         -

     

NET LOSS

$         -

$         -

     

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


$         -


$         -

     

Net loss allocated to other
Partners


$         -


$         -

 

 

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 22


 

2019

2018

Revenues

   
 

Rental

$         -

$   255,007

 

Interest and other

         -

     6,424

 

         -

   261,431

     

Expenses

   
 

Interest

-

21,753

 

Depreciation and amortization

-

54,539

 

Operating expenses

         -

   215,777

 

         -

   292,069

     

NET LOSS

$         -

$  (30,638)

     

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


$         -


$  (30,332)

     

Net loss allocated to other
Partners


$         -


$     (306)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 23


 

2019

2018

Revenues

   
 

Rental

$         -

$   204,371

 

Interest and other

         -

    8,421

 

         -

   212,792

     

Expenses

   
 

Interest

-

14,889

 

Depreciation and amortization

-

45,095

 

Operating expenses

         -

   169,287

 

         -

   229,271

     

NET LOSS

$         -

$  (16,479)

     

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


$         -


$  (16,314)

     

Net loss allocated to other
Partners


$         -


$     (165)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 24


 

2019

2018

Revenues

   
 

Rental

$   422,317

$   428,402

 

Interest and other

    19,531

    13,733

 

   441,848

   442,135

     

Expenses

   
 

Interest

36,469

34,789

 

Depreciation and amortization

118,903

121,938

 

Operating expenses

   354,705

   342,441

 

   510,077

   499,168

     

NET LOSS

$  (68,229)

$  (57,033)

     

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


$  (67,547)


$  (56,463)

     

Net loss allocated to other
Partners


$     (682)


$     (570)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 25


2019

2018

Revenues

 

Rental

$         -

$         -

 

Interest and other

         -

         -

 

         -

         -

     

Expenses

   
 

Interest

-

-

 

Depreciation and amortization

-

-

 

Operating expenses

         -

         -

 

         -

         -

     

NET LOSS

$         -

$         -

     

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


$         -


$         -

     

Net loss allocated to other
Partners


$         -


$         -

 

 

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 26


 

2019

2018

Revenues

   
 

Rental

$   605,212

$   637,353

 

Interest and other

     9,506

     7,655

 

   614,718

   645,008

     

Expenses

   
 

Interest

106,883

111,673

 

Depreciation and amortization

157,288

155,406

 

Operating expenses

   569,196

   536,826

 

   833,367

   803,905

     

NET LOSS

$ (218,649)

$ (158,897)

     

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


$ (216,463)


$ (157,308)

     

Net loss allocated to other
Partners


$   (2,186)


$   (1,589)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 27


 

2019

2018

Revenues

   
 

Rental

$   211,201

$   330,303

 

Interest and other

       125

     6,495

 

   211,326

   336,798

     

Expenses

   
 

Interest

6,529

16,620

 

Depreciation and amortization

67,956

88,925

 

Operating expenses

   210,794

   275,358

 

   285,279

   380,903

     

NET LOSS

$  (73,953)

$  (44,105)

     

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


$  (73,213)


$  (43,664)

     

Net loss allocated to other
Partners


$     (740)


$     (441)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 28


 

2019

2018

Revenues

   
 

Rental

$    263,303

$    411,179

 

Interest and other

      8,837

     22,570

 

    272,140

    433,749

     

Expenses

   
 

Interest

64,522

66,567

 

Depreciation and amortization

69,046

91,762

 

Operating expenses

    209,346

    340,875

 

    342,914

    499,204

     

NET LOSS

$   (70,774)

$   (65,455)

     

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


$   (70,068)


$   (64,800)

     

Net loss allocated to other
Partners


$      (706)


$      (655)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 29

 

 

 

2019

2018

Revenues

   
 

Rental

$    464,228

$    543,919

 

Interest and other

     43,983

     21,495

 

    508,211

    565,414

     

Expenses

   
 

Interest

79,653

106,247

 

Depreciation and amortization

92,325

114,458

 

Operating expenses

    421,661

    459,302

 

    593,639

    680,007

     

NET LOSS

$   (85,428)

$  (114,593)

     

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


$   (84,574)


$  (113,447)

     

Net loss allocated to other
Partners


$      (854)


$    (1,146)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 30


 

2019

2018

Revenues

   
 

Rental

$         -

$   322,299

 

Interest and other

         -

     7,537

 

         -

   329,836

     

Expenses

   
 

Interest

-

34,088

 

Depreciation and amortization

-

76,907

 

Operating expenses

         -

   261,993

 

         -

   372,988

     

NET LOSS

$         -

$  (43,152)

     

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


$         -


$  (42,720)

     

Net loss allocated to other
Partners


$         -


$     (432)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 31


 

2019

2018

Revenues

   
 

Rental

$          -

$    563,108

 

Interest and other

          -

     21,066

 

          -

    584,174

     

Expenses

   
 

Interest

-

41,564

 

Depreciation and amortization

-

209,468

 

Operating expenses

          -

    563,223

 

          -

    814,255

     

NET LOSS

$          -

$  (230,081)

     

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


$          -


$  (227,780)

     

Net loss allocated to other
Partners


$          -


$    (2,301)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 32


 

2019

2018

Revenues

   
 

Rental

$    761,862

$    770,495

 

Interest and other

    13,701

     11,472

 

    775,563

    781,967

     

Expenses

   
 

Interest

125,371

128,444

Depreciation and amortization

219,045

219,165

 

Operating expenses

    613,804

    641,294

 

    958,220

    988,903

     

NET LOSS

$  (182,657)

$  (206,936)

     

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


$  (180,830)


$  (204,867)

     

Net loss allocated to other
Partners


$    (1,827)


$    (2,069)

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 33


 

2019

2018

Revenues

   
 

Rental

$   416,301

$   632,934

 

Interest and other

    13,138

    23,019

 

   429,439

   655,953

 

     

Expenses

   
 

Interest

79,953

101,675

 

Depreciation and amortization

100,726

139,535

 

Operating expenses

   307,186

   465,670

 

   487,865

   706,880

     

NET LOSS

$  (58,426)

$  (50,927)

     

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


$  (57,842)


$  (50,418)

     

Net loss allocated to other
Partners


$     (584)


$     (509)

 

 

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 34


 

2019

2018

Revenues

   
 

Rental

$   408,120

$   495,011

 

Interest and other

    15,105

    25,201

 

   423,225

   520,212

     

Expenses

   
 

Interest

54,704

57,916

 

Depreciation and amortization

106,772

137,095

 

Operating expenses

   362,170

   370,981

 

   523,646

   565,992

     

NET LOSS

$ (100,421)

$  (45,780)

     

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


$  (99,417)


$  (45,322)

     

Net loss allocated to other
Partners


$   (1,004)


$     (458)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 35


 

2019

2018

Revenues

   
 

Rental

$   404,488

$   504,934

 

Interest and other

     2,157

    28,304

 

   406,645

   533,238

     

Expenses

   
 

Interest

58,450

83,244

 

Depreciation and amortization

131,653

161,156

 

Operating expenses

   218,081

   303,777

 

   408,184

   548,177

     

NET LOSS

$   (1,539)

$  (14,939)

     

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


$   (1,524)


$  (14,790)

     

Net loss allocated to other
Partners


$      (15)


$     (149)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 36


 

2019

2018

Revenues

   
 

Rental

$    88,773

$   284,874

 

Interest and other

       810

     5,290

 

    89,583

   290,164

     

Expenses

   
 

Interest

21,196

52,992

 

Depreciation and amortization

27,363

70,217

 

Operating expenses

    85,948

   208,729

 

   134,507

   331,938

     

NET LOSS

$  (44,924)

$  (41,774)

     

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


$  (44,475)


$  (41,356)

     

Net loss allocated to other
Partners


$     (449)


$     (418)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 37

 

 

 

2019

2018

Revenues

   
 

Rental

$         -

$         -

 

Interest and other

         -

         -

 

         -

         -

     

Expenses

   
 

Interest

-

-

 

Depreciation and amortization

-

-

 

Operating expenses

         -

         -

 

         -

         -

     

NET LOSS

$         -

$         -

     

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


$         -


$         -

     

Net loss allocated to other
Partners


$         -


$         -

 

 

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 38


 

2019

2018

Revenues

   
 

Rental

$   115,212

$   810,726

 

Interest and other

       887

    16,373

 

   116,099

   827,099

     

Expenses

   
 

Interest

13,168

111,239

 

Depreciation and amortization

27,635

155,514

 

Operating expenses

    99,031

   564,808

 

   139,834

   831,561

     

NET LOSS

$  (23,735)

$   (4,462)

     

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


$  (23,498)


$   (4,417)

     

Net loss allocated to other
Partners


$     (237)


$      (45)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 39


 

2019

2018

Revenues

   
 

Rental

$         -

$         -

 

Interest and other

         -

         -

 

         -

         -

     

Expenses

   
 

Interest

-

-

 

Depreciation and amortization

-

-

 

Operating expenses

         -

         -

 

         -

         -

     

NET LOSS

$         -

$         -

     

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


$         -


$         -

     

Net loss allocated to other
Partners


$         -


$         -

 

 

 

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

 

Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 40


 

2019

2018

Revenues

   
 

Rental

$   486,308

$ 1,017,456

 

Interest and other

     9,251

    26,894

 

   495,559

 1,044,350

     

Expenses

   
 

Interest

80,247

189,214

 

Depreciation and amortization

122,649

276,150

 

Operating expenses

   362,884

   794,063

 

   565,780

 1,259,427

     

NET LOSS

$  (70,221)

$ (215,077)

     

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


$  (69,519)


$ (212,926)

     

Net loss allocated to other
Partners


$     (702)


$   (2,151)

 

 

 

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




















Boston Capital Tax Credit Fund IV L.P.


NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 41

 

 

 

2019

2018

Revenues

   
 

Rental

$ 1,780,047

$ 1,815,549

 

Interest and other

    31,950

    29,661

 

 1,811,997

 1,845,210

     

Expenses

   
 

Interest

283,344

340,027

 

Depreciation and amortization

368,462

384,753

 

Operating expenses

 1,294,393

 1,223,663

 

 1,946,199

 1,948,443

     

NET LOSS

$ (134,202)

$ (103,233)

     

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


$ (132,860)


$ (102,201)

     

Net loss allocated to other
Partners


$   (1,342)


$   (1,032)

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 42


 

2019

2018

Revenues

 

Rental

$ 1,131,169

$ 1,196,029

 

Interest and other

    42,952

    47,542

 

 1,174,121

 1,243,571

     

Expenses

   
 

Interest

217,395

242,115

 

Depreciation and amortization

323,583

362,541

 

Operating expenses

   851,969

   876,593

 

 1,392,947

 1,481,249

     

NET LOSS

$ (218,826)

$ (237,678)

     

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


$ (216,638)


$ (235,301)

     

Net loss allocated to other
Partners


$   (2,188)


$   (2,377)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 43


 

2019

2018

Revenues

   
 

Rental

$ 1,312,145

$ 2,093,498

 

Interest and other

    36,262

    90,363

 

 1,348,407

 2,183,861

     

Expenses

   
 

Interest

113,547

256,666

 

Depreciation and amortization

372,693

695,187

 

Operating expenses

 1,068,124

 1,576,475

 

 1,554,364

 2,528,328

     

NET LOSS

$ (205,957)

$ (344,467)

     

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


$ (203,897)


$ (341,022)

     

Net loss allocated to other
Partners


$   (2,060)


$   (3,445)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 44


 

2019

2018

Revenues

   
 

Rental

$  2,449,364

$  2,981,014

 

Interest and other

     51,200

     81,854

 

  2,500,564

  3,062,868

     

Expenses

   
 

Interest

553,571

695,577

 

Depreciation and amortization

513,484

676,174

 

Operating expenses

  1,447,637

  1,711,083

 

  2,514,692

  3,082,834

NET LOSS

$   (14,128)

$   (19,966)

     

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


$   (13,987)


$   (19,766)

     

Net loss allocated to other
Partners


$      (141)


$      (200)

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 45


 

2019

2018

Revenues

   
 

Rental

$  3,290,532

$  3,545,117

 

Interest and other

     76,870

     80,792

 

  3,367,402

  3,625,909

     

Expenses

   
 

Interest

404,349

455,418

 

Depreciation and amortization

826,542

944,459

 

Operating expenses

  2,560,676

  2,613,391

 

  3,791,567

  4,013,268

     

NET LOSS

$  (424,165)

$  (387,359)

     

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


$  (419,923)


$  (383,485)

     

Net loss allocated to other
Partners


$    (4,242)


$    (3,874)

 

 

 

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
September 30, 2019
(Unaudited)

 

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

 

Series 46


 

2019

2018

Revenues

   
 

Rental

$ 2,487,589

$ 2,360,265

 

Interest and other

    37,966

    71,601

 

 2,525,555

 2,431,866

     

Expenses

   
 

Interest

480,436

469,907

 

Depreciation and amortization

567,482

567,002

 

Operating expenses

 1,529,363

 1,482,724

 

 2,577,281

 2,519,633

     

NET LOSS

$  (51,726)

$  (87,767)

     

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


$  (51,209)


$  (86,889)

     

Net loss allocated to other
Partners


$     (517)


$     (878)

 

 

 

 

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
September 30, 2019

(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 2015 remain open.

 

NOTE G - SUBSEQUENT EVENTS

 

Events that occur after the balance sheet date but before the financial statements were available to be issued must be evaluated for recognition or disclosure.  The effects of subsequent events that provide evidence about conditions that existed at the balance sheet date are recognized in the accompanying financial statements. Subsequent events, which provide evidence about conditions that existed after the balance sheet date, require disclosure in the accompanying notes.  Management evaluated the activity of the Fund through the date the financial statements were issued, and concluded that no subsequent events have occurred that would require recognition in the financial statements or disclosure in the notes to the financial statements.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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, 2019. 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 six months ended September 30, 2019 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 September 30, 2019 were $368,371 and total fund management fees accrued as of September 30, 2019 were $16,957,211. During the six months ended September 30, 2019, $2,883,556 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. During the six months ended September 30, 2019, an affiliate of the general partner of the Fund was paid a total of $235,634 by Series 44 for reimbursements of operating expenses of the Fund previously recorded.

 

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 September 30, 2019.

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 all 24 of the Operating Partnerships.

Prior to the quarter ended September 30, 2019, 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 September 30, 2019, 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 all 29 of the Operating Partnerships.

Prior to the quarter ended September 30, 2019, 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 all 22 of the Operating Partnerships.

Prior to the quarter ended September 30, 2019, 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 20 of the Operating Partnerships and 4 remain.

Prior to the quarter ended September 30, 2019, 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 September 30, 2019, 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 September 30, 2019, 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 14 of the Operating Partnerships and 2 remain.

Prior to the quarter ended September 30, 2019, 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 23 of the Operating Partnerships and 3 remain.

Prior to the quarter ended September 30, 2019, 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 September 30, 2019, 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 September 30, 2019. 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 sold its interest in all 20 of the Operating Partnerships.

Prior to the quarter ended September 30, 2019, Series 30 had released all payments of its capital contributions to the Operating 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 sold its interest in all 27 of the Operating Partnerships.

During the quarter ended September 30, 2019, Series 31 converted the outstanding contributions payable of $25,000 to capital, and now has released all payments of its capital contributions to the Operating Partnerships.

 

Series 32

The Fund commenced offering BACs in Series 32 on January 19, 1998. Offers and sales of BACs in Series 32 were completed on June 23, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 17 Operating Partnerships in the amount of $34,129,677. Series 32 has since sold its interest in 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 September 30, 2019, 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 September 30, 2019. 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 8 of the Operating Partnerships and 2 remain.

Prior to the quarter ended September 30, 2019, 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 11 of the Operating Partnerships and 3 remain.

Prior to the quarter ended September 30, 2019, 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 10 of the Operating Partnerships and 1 remains.

Prior to the quarter ended September 30, 2019, 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 10 of the Operating Partnerships and 1 remains.

Prior to the quarter ended September 30, 2019, 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 all 7 of the Operating Partnerships.


Prior to the quarter ended June 30, 2019, 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 9 of the Operating Partnerships and 1 remains. 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 September 30, 2019, 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 September 30, 2019, 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 11 of the Operating Partnerships and 5 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 September 30, 2019, Series 40 applied $102 of contributions payable to a prior year disposition, and has now released all payments of its capital contributions to the Operating Partnerships.

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 September 30, 2019, 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 14 of the Operating Partnerships and 9 remain.

During the quarter ended September 30, 2019, 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 September 30, 2019. 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 12 of the Operating Partnerships and 11 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.

 

Prior to the quarter ended September 30, 2019, Series 43 had released all payments of its capital contributions to the Operating Partnerships.

 

 

 

 

 

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 5 of the Operating Partnerships and 5 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 September 30, 2019, 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 9 of the Operating Partnerships and 22 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 September 30, 2019, 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 September 30, 2019. 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 September 30, 2019, Series 46 had released all payments of its capital contributions to the Operating Partnerships.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Results of Operations

As of September 30, 2019 and 2018, the Fund held limited partnership interests in 112 and 150 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 six months ended September 30, 2019, 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

Series 20

$      -

$     -

$      -

Series 21

-

-

-

Series 22

-

-

-

Series 23

-

-

-

Series 24

10,299

-

10,299

Series 25

-

-

-

Series 26

13,938

-

13,938

Series 27

7,635

4,000

3,635

Series 28

7,296

-

7,296

Series 29

7,260

-

7,260

Series 30

-

-

-

Series 31

-

-

-

Series 32

19,794

-

19,794

Series 33

13,316

-

13,316

Series 34

11,496

-

11,496

Series 35

9,847

-

9,847

Series 36

2,739

-

2,739

Series 37

-

-

-

Series 38

2,742

3,000

(258)

Series 39

-

-

-

Series 40

19,612

-

19,612

Series 41

34,077

2,363

31,714

Series 42

23,790

452

23,338

Series 43

24,400

4,275

20,125

Series 44

48,187

10,836

37,351

Series 45

59,644

53

59,591

Series 46

 52,299

 2,300

 49,999

 

$368,371

$27,279

$341,092

 

 

 

 

 

 

 

 


6 Months
Gross Fund
Management Fee


6 Months
Asset Management and
Reporting Fee

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

Series 20

$      -

$      -

$      -

Series 21

-

-

-

Series 22

-

-

-

Series 23

-

-

-

Series 24

20,598

2,356

18,242

Series 25

-

-

-

Series 26

27,876

1,000

26,876

Series 27

15,270

6,380

8,890

Series 28

14,592

2,000

12,592

Series 29

14,520

-

14,520

Series 30

-

-

-

Series 31

4,308

64,295

(59,987)

Series 32

39,588

13,000

26,588

Series 33

26,634

17,420

9,214

Series 34

23,861

3,000

20,861

Series 35

20,500

3,200

17,300

Series 36

7,911

-

7,911

Series 37

-

-

-

Series 38

19,323

3,000

16,323

Series 39

-

-

-

Series 40

40,482

7,380

33,102

Series 41

68,154

15,859

52,295

Series 42

47,580

1,956

45,624

Series 43

55,511

9,275

46,236

Series 44

102,889

17,607

85,282

Series 45

119,288

9,853

109,435

Series 46

104,598

 10,128

 94,470

 

$773,483

$187,709

$585,774

 

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 September 30, 2018, the average Qualified Occupancy for the series was 100%. The series did not have any properties as of September 30, 2019.

For the six month periods ended September 30, 2019 and 2018, Series 20 reflects a net loss from Operating Partnerships of $- and $(15,264), respectively, which includes depreciation and amortization of $- and $28,416, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

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

The series did not have any properties as of September 30, 2019 and 2018.

Series 22

As of September 30, 2018, the average Qualified Occupancy for the series was 100%. The series did not have any properties as of September 30, 2019.

For the six month periods ended September 30, 2019 and 2018, Series 22 reflects a net loss from Operating Partnerships of $- and $(30,638), respectively, which includes depreciation and amortization of $- and $54,539, 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 September 30, 2018, the average Qualified Occupancy for the series was 100%. The series did not have any properties as of September 30, 2019.

For the six month periods ended September 30, 2019 and 2018, Series 23 reflects a net loss from Operating Partnerships of $- and $(16,479), respectively, which includes depreciation and amortization of $- and $45,095, 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 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 September 30, 2019 and 2018, the average Qualified Occupancy for the series was 100%. The series had a total of 4 properties at September 30, 2019, all of which were at 100% Qualified Occupancy.

 

For the six month periods ended September 30, 2019 and 2018, Series 24 reflects a net loss from Operating Partnerships of $(68,229) and $(57,033), respectively, which includes depreciation and amortization of $118,903 and $121,938, 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 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, was 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

The series did not have any properties as of September 30, 2019 and 2018.

Series 26

As of September 30, 2019 and 2018, the average Qualified Occupancy for the series was 100%. The series had a total of 8 properties at September 30, 2019, all of which were at 100% Qualified Occupancy.

For the six month periods ended September 30, 2019 and 2018, Series 26 reflects a net loss from Operating Partnerships of $(218,649) and $(158,897), respectively, which includes depreciation and amortization of $157,288 and $155,406, 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 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 was 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.

 

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

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

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

Warrensburg Heights L.P.

 

Series 27

As of September 30, 2019 and 2018, the average Qualified Occupancy for the series was 100%. The series had a total of 2 properties at September 30, 2019, all of which were at 100% Qualified Occupancy.

For the six month periods ended September 30, 2019 and 2018, Series 27 reflects a net loss from Operating Partnerships of $(73,953) and $(44,105), respectively, which includes depreciation and amortization of $67,956 and $88,925, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In September 2019, the operating general partner of Northrock Housing Associates Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on September 23, 2019. The sales price of the property was $5,547,522, which included the outstanding mortgage balance of approximately $968,733 and cash proceeds to the investment partnerships of $778,672 and $1,445,882, for Series 27 and Series 33, respectively. Of the total proceeds received by the investment partnerships, $1,750 and $3,250, for Series 27 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 $776,922 and $1,442,632, for Series 27 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 $776,922 and $1,442,632, for Series 27 and Series 33, respectively, as of September 30, 2019.

 

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 September 30, 2019 and 2018, the average Qualified Occupancy for the series was 100%. The series had a total of 3 properties at September 30, 2019, all of which were at 100% Qualified Occupancy.

For the six month periods ended September 30, 2019 and 2018, Series 28 reflects a net loss from Operating Partnerships of $(70,774) and $(65,455), respectively, which includes depreciation and amortization of $69,046 and $91,762, 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 was 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.

 

In September 2019, the investment general partner transferred its interest in Fairway II LDHA to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $634,665 and cash proceeds to the investment partnership of $9,600. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $7,100 were returned to cash reserves held by Series 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 $7,100 as of September 30, 2019.

 

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.

 

Jackson Place Apartments, L.P.

Maplewood Apartments Partnership, A LA Partnership

 

Series 29

As of September 30, 2019 and 2018, the average Qualified Occupancy for the series was 100%. The series had a total of 5 properties at September 30, 2019, all of which were at 100% Qualified Occupancy.

For the six month periods ended September 30, 2019 and 2018, Series 29 reflects a net loss from Operating Partnerships of $(85,428) and $(114,593), respectively, which includes depreciation and amortization of $92,325 and $114,458, 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 Edgewood Apartments Partnership, A Louisiana Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,914,574 and cash proceeds to the investment partnership of $108,000. Of the total proceeds received, $5,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $102,500 were returned to cash reserves held by Series 29. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $102,500 as of June 30, 2018.

 

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

 

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

 

Westfield Apartments Partnership, A Louisiana Partnership

The Lincoln Hotel

Poplarville Housing Inc.

 

Series 30

As of September 30, 2018, the average Qualified Occupancy for the series was 100%. The series did not have any properties as of September 30, 2019.

For the six month periods ended September 30, 2019 and 2018, Series 30 reflects a net loss from Operating Partnerships of $- and $(43,152), respectively, which includes depreciation and amortization of $- and $76,907, 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 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 was 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 was 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.

 

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 was 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 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 be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with 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, 2018.

 

In December 2018, the investment general partner transferred its interest in K.G.V.A. Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $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 September 30, 2018, the average Qualified Occupancy for the series was 100%. The series did not have any properties as of September 30, 2019.

For the six month periods ended September 30, 2019 and 2018, Series 31 reflects a net loss from Operating Partnerships of $- and $(230,081), respectively, which includes depreciation and amortization of $- and $209,468, 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 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 was 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 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $39,500 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $39,500 as of December 31, 2018. In addition, equity outstanding for the Operating Partnership in the amount of $22,452 for Series 31 was recorded as gain on the transfer of the Operating Partnership as of December 31, 2018.

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

 

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

 

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

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

 

In April 2019, the operating general partner of Sencit Hampden Associates LP entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on May 10, 2019. The sales price of the property was $2,700,000, which included the outstanding mortgage balance of approximately $973,555. Of the total proceeds received by the investment partnership, $64,295 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the sale. Of the remaining proceeds, $8,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $587,469 will be 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 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 $587,469 as of June 30, 2019. In September 2019, the investment partnership received additional proceeds equal to its share of the Operating Partnership's cash in the amount of $31,431 which was returned to the cash reserves.

 

Series 32

As of September 30, 2019 and 2018, the average Qualified Occupancy for the series was 100%. The series had a total of 5 properties at September 30, 2019, all of which were at 100% Qualified Occupancy

 

For the six month periods ended September 30, 2019 and 2018, Series 32 reflects a net loss from Operating Partnerships of $(182,657) and $(206,936), respectively, which includes depreciation and amortization of $219,045 and $219,165, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In January 2018, the operating general partner of Pyramid Four Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on May 17, 2018. The sales price of the property was $1,536,000, which included the outstanding mortgage balance of approximately $388,399 and cash proceeds to the investment partnership of $492,880. Of the total proceeds received by the investment partnership, $5,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $487,880 will be returned to cash reserves held by Series 32. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $487,880 as of June 30, 2018. In March 2019, the investment partnership received additional proceeds equal to its share of the Operating Partnership's cash in the amount of $51,208 which was returned to the cash reserves.

 

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

 

Pecan Manor Apartments Partnership, A Louisiana Partnership in Commendam

Parkside Plaza, LLP

 

Series 33

As of September 30, 2019 and 2018, the average Qualified Occupancy for the series was 100%. The series had a total of 2 properties at September 30, 2019, all of which were at 100% Qualified Occupancy.

For the six month periods ended September 30, 2019 and 2018, Series 33 reflects a net loss from Operating Partnerships of $(58,426) and $(50,927), respectively, which includes depreciation and amortization of $100,726 and $139,535, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In September 2019, the operating general partner of Northrock Housing Associates Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on September 23, 2019. The sales price of the property was $5,547,522, which included the outstanding mortgage balance of approximately $968,733 and cash proceeds to the investment partnerships of $778,672 and $1,445,882, for Series 27 and Series 33, respectively. Of the total proceeds received by the investment partnerships, $1,750 and $3,250, for Series 27 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 $776,922 and $1,442,632, for Series 27 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 $776,922 and $1,442,632, for Series 27 and Series 33, respectively, as of September 30, 2019.

 

Series 34

As of September 30, 2019 and 2018, the average Qualified Occupancy for the series was 100%. The series had a total of 3 properties at September 30, 2019, all of which were at 100% Qualified Occupancy.

For the six month periods ended September 30, 2019 and 2018, Series 34 reflects a net loss from Operating Partnerships of $(100,421) and $(45,780), respectively, which includes depreciation and amortization of $106,772 and $137,095, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In July 2019, the investment general partner transferred its interest in Abby Ridge, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $216,241 and cash proceeds to the investment partnership of $262,500. 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 $257,500 were returned to cash reserves held by Series 34. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $257,500 as of September 30, 2019.

 

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 September 30, 2019 and 2018, the average Qualified Occupancy for the series was 100%. The series had a total of 1 property at September 30, 2019, which was at 100% Qualified Occupancy.

For the six month periods ended September 30, 2019 and 2018, Series 35 reflects a net loss from Operating Partnerships of $(1,539) and $(14,939), respectively, which includes depreciation and amortization of $131,653 and $161,156, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

In August 2019, the investment general partner transferred its interest in New Caney Housing II, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,027,284 and cash proceeds to the investment partnership of $150,000. Of the total proceeds received, $9,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $141,000 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 $141,000 as of September 30, 2019.

 

Series 36

As of September 30, 2019 and 2018, the average Qualified Occupancy for the series was 100%. The series had a total of 1 property at September 30, 2019, which was at 100% Qualified Occupancy.

For the six month periods ended September 30, 2019 and 2018, Series 36 reflects a net loss from Operating Partnerships of $(44,924) and $(41,774), respectively, which includes depreciation and amortization of $27,363 and $70,217, 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 February 2019, the operating general partner of Willowbrook Apartments Partnership, A Louisiana Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on June 19, 2019. The sales price of the property was $1,625,000, which included the outstanding mortgage balance of approximately $522,219 and cash proceeds to the investment partnership of $481,325. 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 $476,325 will be returned to cash reserves held by Series 36. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the 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 $476,325 as of June 30, 2019.

 

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

 

Wingfield Apartments Limited Partnership

 

Series 37

The series did not have any properties as of September 30, 2019 and 2018.

 

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.

 

Series 38

As of September 30, 2019 and 2018, the average Qualified Occupancy for the series was 100%. The series had a total of 1 property at September 30, 2019, which was at 100% Qualified Occupancy.

For the six month periods ended September 30, 2019 and 2018, Series 38 reflects a net loss from Operating Partnerships of $(23,735) and $(4,462), respectively, which includes depreciation and amortization of $27,635 and $155,514, 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 was 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.

 

In February 2019, the operating general partner of Willowbrook II Apartments Partnership, A Louisiana Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on June 19, 2019. The sales price of the property was $1,625,000, which included the outstanding mortgage balance of approximately $425,416 and cash proceeds to the investment partnership of $527,974. 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 $522,974 will be returned to cash reserves held by Series 38. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $522,974 as of June 30, 2019.

 

In June 2019, the investment general partner transferred its interest in Aldine Westfield Apartments, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $2,544,775 and cash proceeds to the investment partnership of $950,000. Of the total proceeds received, $9,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $941,000 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 $941,000 as of June 30, 2019.

 

Series 39

The series did not have any properties as of September 30, 2019 and 2018.

Series 40

As of September 30, 2019 and 2018, the average Qualified Occupancy for the series was 100%. The series had a total of 5 properties at September 30, 2019, all of which at 100% Qualified Occupancy.

 

For the six month periods ended September 30, 2019 and 2018, Series 40 reflects a net loss from Operating Partnerships of $(70,221) and $(215,077), respectively, which includes depreciation and amortization of $122,649 and $276,150, 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 was 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 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 was 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. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with 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 $17,644 as of March 31, 2019. In addition, equity outstanding for the Operating Partnership in the amount of $102 for Series 40 was recorded as gain on the transfer of the Operating Partnership as of September 30, 2019.

 

In August 2019, the investment general partner transferred its interest in Capitol Five Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,185,023 and cash proceeds to the investment partnership of $40,594. Of the total proceeds received, $4,950 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $35,644 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. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with 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 $35,644 as of September 30, 2019.

 

In September 2019, the operating general partner of Northrock Housing Associates II Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on September 23, 2019. The sales price of the property was $4,416,742, which included the outstanding mortgage balance of approximately $1,484,229 and cash proceeds to the investment partnership of $2,523,259. Of the total proceeds received by the investment partnership, $5,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $2,518,259 will be returned to cash reserves held by Series 40. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $2,518,259 as of September 30, 2019.

 

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.

 

Center Place Apartments II Limited Partnership

Oakland Partnership, A Louisiana Partnership

 

Series 41

As of September 30, 2019 and 2018, the average Qualified Occupancy for the series was 100%. The series had a total of 11 properties at September 30, 2019, all of which were at 100% Qualified Occupancy.

 

For the six month periods ended September 30, 2019 and 2018, Series 41 reflects a net loss from Operating Partnerships of $(134,202) and $(103,233), respectively, which includes depreciation and amortization of $368,462 and $384,753, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

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

 

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

 

Cedar Grove Apartments, Phase I Limited Partnership

Rural Housing Partners of Mendota

Rural Housing Partners of Fulton

 

Series 42

As of September 30, 2019 and 2018, the average Qualified Occupancy for the series was 100%. The series had a total of 9 properties at September 30, 2019, all of which were at 100% Qualified Occupancy.

 

For the six month periods ended September 30, 2019 and 2018, Series 42 reflects a net loss from Operating Partnerships of $(218,826) and $(237,678), respectively, which includes depreciation and amortization of $323,583 and $362,541, 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 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, was 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 September 30, 2019 and 2018, the average Qualified Occupancy for the series was 100%. The series had a total of 11 properties at September 30, 2019, all of which were at 100% Qualified Occupancy.

 

For the six month periods ended September 30, 2019 and 2018, Series 43 reflects a net loss from Operating Partnerships of $(205,957) and $(344,467), respectively, which includes depreciation and amortization of $372,693 and $695,187, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

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

 

In 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 was 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. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with 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 $352,500 as of March 31, 2019.

 

In March 2019, the operating general partner of Alexander Mills, LP entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on May 31, 2019. The sales price of the property was $21,216,275, which included the outstanding mortgage balance of approximately $11,408,365 and cash proceeds to the investment partnerships of $1,065,532 and $1,302,317 for Series 43 and Series 44, respectively. Of the total proceeds received by the investment partnerships, $4,950 and $6,050 for Series 43 and Series 44, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $1,060,582 and $1,296,267 for Series 43 and Series 44, respectively, will be returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with 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 $1,060,582 and $1,296,267 for Series 43 and Series 44, respectively, as of June 30, 2019.

 

In July 2019, the investment general partner transferred its interest in Gilbert Apartments, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $537,996 and cash proceeds to the investment partnership of $200,000. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $195,000 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 $195,000 as of September 30, 2019.

 

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

 

Parkside Plaza, LLP

 

 

 

Series 44

As of September 30, 2019 and 2018, the average Qualified Occupancy was 100%. The series had a total of 5 properties at September 30, 2019, all of which were at 100% Qualified Occupancy.

 

For the six month periods ended September 30, 2019 and 2018, Series 44 reflects a net loss from Operating Partnerships of $(14,128) and $(19,966), respectively, which includes depreciation and amortization of $513,484 and $676,174, 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 expired 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.

 

In March 2019, the operating general partner of Alexander Mills, LP entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on May 31, 2019. The sales price of the property was $21,216,275, which included the outstanding mortgage balance of approximately $11,408,365 and cash proceeds to the investment partnerships of $1,065,532 and $1,302,317 for Series 43 and Series 44, respectively. Of the total proceeds received by the investment partnerships, $4,950 and $6,050 for Series 43 and Series 44, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $1,060,582 and $1,296,267 for Series 43 and Series 44, respectively, will be returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with 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 $1,060,582 and $1,296,267 for Series 43 and Series 44, respectively, as of June 30, 2019.

 

In September 2019, the operating general partner of Northrock Housing Associates Three Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on September 23, 2019. The sales price of the property was $2,640,737, which included the outstanding mortgage balance of approximately $709,074 and cash proceeds to the investment partnership of $1,565,456. 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 $1,560,456 will be returned to cash reserves held by Series 44. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with 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 $1,560,456 as of September 30, 2019.

 

Series 45

As of September 30, 2019 and 2018, the average Qualified Occupancy for the series was 100%. The series had a total of 22 properties at September 30, 2019, all of which were at 100% Qualified Occupancy.

 

For the six month periods ended September 30, 2019 and 2018, Series 45 reflects a net loss from Operating Partnerships of $(424,165) and $(387,359), respectively, which includes depreciation and amortization of $826,542 and $944,459, 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 September 30, 2019, the property is maintaining average occupancy of 79%. 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.

 

Bartlett Bayou, L.P. (Bartlett Bayou Apartments) is a 48-unit family property in Pascagoula, MS. The property operated below breakeven in 2017 and 2018 due to high operating expenses. Through the third quarter of 2019, the property is operating above breakeven. Occupancy averaged 97% in 2018 and averaged 98% in the three quarters of 2019. The investment limited partner will continue to monitor the property's operating expenses. 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. As the property has stabilized and is now operating above breakeven, the investment general partner will cease reporting for Bartlett Bayou, L.P. subsequent to September 30, 2019.

 

University Plaza Investment Group, LLLP (University Plaza Senior Complex) is a 34-unit property in Greeley, CO.  On May 31, 2019, a complaint was filed by the daughter of a resident that burned to death in his unit on November 28, 2017. The Plaintiff has requested a trial by jury in an amount to be determined at trial. The Plaintiff is claiming negligence and wrongful death against the Operating Partnership. The operating general partner submitted the compliant to the insurance company who hired an attorney. The attorney filed an Answer and Jury Demand on June 24, 2019. Most of the answers to the compliant denied the allegations. The parties began discovery after the case management conference was completed on August 13, 2019. The attorney representing the Operating Partnership is in process of drafting the written discovery. Counsel for the investment general partner has reviewed the complaint and will continue to review all documentation with respect to the lawsuit. The Operating Partnership's liability insurance carries coverage of $500,000 per incident in addition to a $10,000,000 umbrella liability policy. At this time any outcome of the lawsuit cannot be determined and the investment general partner and legal counsel will continue to monitor the case.

In June 2018, the investment general partner transferred its interest in New Shinnston Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $455,569 and cash proceeds to the investment partnership of $350,000. Of the total proceeds received, $7,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $342,500 were returned to cash reserves held by Series 45. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with 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 was 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. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with 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 $54,100 as of March 31, 2019.

 

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 was 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. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with 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 $121,000 as of March 31, 2019.

 

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 was 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. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with 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 $116,000 as of March 31, 2019.

 

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 September 30, 2019 and 2018, the average Qualified Occupancy for the series was 100%. The series had a total of 14 properties at September 30, 2019, all of which were at 100% Qualified Occupancy.

 

For the six month periods ended September 30, 2019 and 2018, Series 46 reflects a net loss from Operating Partnerships of $(51,726) and $(87,767), respectively, which includes depreciation and amortization of $567,482 and $567,002, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

 

Bartlett Bayou, L.P. (Bartlett Bayou Apartments) is a 48-unit family property in Pascagoula, MS. The property operated below breakeven in 2017 and 2018 due to high operating expenses. Through the third quarter of 2019, the property is operating above breakeven. Occupancy averaged 97% in 2018 and averaged 98% in the three quarters of 2019. The investment limited partner will continue to monitor the property's operating expenses. 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. As the property has stabilized and is now operating above breakeven, the investment general partner will cease reporting for Bartlett Bayou, L.P. subsequent to September 30, 2019.

 

Linden-Shawnee Partners, L.P. (The Linden's Apartments) is a 54-unit family property located in Shawnee, OK. The property was added to the Watchlist during second quarter of 2019 for below breakeven operations due to low occupancy and elevated operating expenses. As of September 30, 2019, occupancy is 85%. The investment limited partner will continue to work with the operating general partner and the management company to monitor and improve operations. The operating general partner is under an operating deficit guarantee through the end of compliance. The 15-year low income housing tax credit compliance period with respect to Linden-Shawnee Partners, 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, 2019 and 2018. However, it is important to note that this change in the accounting estimate to the calculation method of the impairment loss has no effect on the actual value or performance of the overall investment, nor does it have any effect on the remaining credits to be generated.

 

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


 

 

 

 

 

 

 

 

 

 

 

Principal Accounting Policies and Estimates - continued

 

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

 

 

 

 

 

 

 

 

 

 

 

 




















 

 

 

 

 

 

 

 

 




Item 3

Quantitative and Qualitative Disclosures About Market Risk

   
 

Not Applicable

 

Item 4

Controls and Procedures

     
 

(a)

Evaluation of Disclosure Controls and Procedures

   

 

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

 

(b)

Changes in Internal Controls

     
   

There were no changes in the Fund's internal control over financial reporting that occurred during the quarter ended September 30, 2019 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, 2019.

   

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

   
 

None

   

Item 3.

Defaults Upon Senior Securities

   
 

None

   

Item 4.

Mine Safety Disclosures

   
 

Not Applicable

   

Item 5.

Other Information

   
 

None

Item 6.

Exhibits 

   
   

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

BCTC IV CERT 302

 

   

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

BCTC IV CERT 302

 

   

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

BCTC IV CERT 906

 

   

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

BCTC IV CERT 906

 

   
   

101. The following materials from the Boston Capital Tax Credit Fund IV L.P. Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2019 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: November 13, 2019

 

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:

November 13, 2019

/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

   
   
   
   
   
     

November 13, 2019

/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.

     

 


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
12/31/21
12/31/20
12/31/1910-Q
Filed on:11/13/19
For Period end:9/30/19
9/23/19
8/13/1910-Q
6/30/1910-Q
6/24/19
6/19/19
5/31/19
5/10/19
4/1/19
3/31/1910-K
12/31/1810-Q
9/30/1810-Q
7/31/18
6/30/1810-Q
6/15/18
5/17/18
4/1/18
3/31/1810-K
11/28/17
7/21/16
2/10/16
12/8/15
10/23/15
11/26/13
12/31/1010-Q
3/31/0910-K,  NT 10-K
12/19/03
9/23/03
9/16/03
7/1/038-K
4/30/03
1/14/03
12/31/0210-Q,  NT 10-Q
8/1/02424B3
7/31/02
7/24/02S-11/A
6/30/0210-Q,  NT 10-Q
2/1/02
1/31/02
8/1/01497
7/31/01
7/24/01
6/1/01
2/1/01
1/31/01
8/1/00
7/31/00
7/26/00
2/1/00
1/28/00
10/29/99
9/28/99
8/31/99
6/28/99NT 10-K
6/22/99424B3
2/22/99
2/11/99
12/1/98
9/22/98497
9/21/98
6/23/98
6/22/98
4/2/98POS AM
1/19/98
1/18/98
9/11/97
9/10/97
6/23/97
6/20/97
6/10/97
2/10/9710-K405/A
1/31/978-K,  POS AM
1/29/978-K
9/30/9610-Q
9/27/96
9/17/96
6/25/968-K
6/17/96
6/14/96
4/18/96
1/18/96
12/29/958-K
9/30/95
9/22/95
6/23/95
6/9/95
1/10/95
12/31/94
12/28/94
10/12/94
9/30/94
7/5/94
6/24/94
1/21/94
12/16/93
10/5/93
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