<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> MAR-31-2001
<PERIOD-END> JUN-30-2000
<CASH> 177,384
<SECURITIES> 620,430
<RECEIVABLES> 1,339,059<F1>
<ALLOWANCES> 000
<INVENTORY> 000
<CURRENT-ASSETS> 000
<PP&E> 000
<DEPRECIATION> 000
<TOTAL-ASSETS> 15,005,456<F2>
<CURRENT-LIABILITIES> 000
<BONDS> 000
<COMMON> 000
000
000
<OTHER-SE> 11,651,839
<TOTAL-LIABILITY-AND-EQUITY> 15,005,456<F3>
<SALES> 000
<TOTAL-REVENUES> 58,835<F4>
<CGS> 000
<TOTAL-COSTS> 000
<OTHER-EXPENSES> 231,938<F5>
<LOSS-PROVISION> 000
<INTEREST-EXPENSE> 1,500
<INCOME-PRETAX> 000
<INCOME-TAX> 000
<INCOME-CONTINUING> 000
<DISCONTINUED> 000
<EXTRAORDINARY> 000
<CHANGES> 000
<NET-INCOME> (579,741)<F6>
<EPS-BASIC> (5.74)
<EPS-DILUTED> 000
<FN>
<F1>Included in Receivables: Interest receivable of $10,286 and Note receivable
of $1,328,773 <F2>Included in Total Assets: Investments in Local Limited
Partnerships of $12,868,583 <F3>Included in Total Liabilities and Equity:
Accounts payable to affiliates of $2,535,968, Accounts payable and accrued
expenses of $302,681 and Note payable, affiliate of $514,968 <F4>Included in
Total Revenue: Investment of $10,768, Recovery of bad debt of $10,955 and Other
of $37,112 <F5>Included in Other Expenses: Asset management fees of $90,545,
General and administrative of $117,742 and Amortization of $23,651 <F6>Included
in Net Loss: Equity in losses of Local Limited Partnerships of $405,138</FN>
</TABLE>