<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2001
<PERIOD-END> SEP-30-2000
<CASH> 416,815
<SECURITIES> 2,659,506
<RECEIVABLES> 000
<ALLOWANCES> 000
<INVENTORY> 000
<CURRENT-ASSETS> 000
<PP&E> 000
<DEPRECIATION> 000
<TOTAL-ASSETS> 20,906,273<F1>
<CURRENT-LIABILITIES> 000
<BONDS> 000
<COMMON> 000
000
000
<OTHER-SE> 20,531,436
<TOTAL-LIABILITY-AND-EQUITY> 20,906,273<F2>
<SALES> 000
<TOTAL-REVENUES> 235,175<F3>
<CGS> 000
<TOTAL-COSTS> 000
<OTHER-EXPENSES> 264,656<F4>
<LOSS-PROVISION> 000
<INTEREST-EXPENSE> 000
<INCOME-PRETAX> 000
<INCOME-TAX> 000
<INCOME-CONTINUING> 000
<DISCONTINUED> 000
<EXTRAORDINARY> 000
<CHANGES> 000
<NET-INCOME> (896,005)<F5>
<EPS-BASIC> (12.87)
<EPS-DILUTED> 000
<FN>
<F1>Included in Total Assets: Investments in Local Limited Partnerships, net of
$17,660,093, Restricted cash of $135,145 and Other assets of $34,714
<F2>Included in Total Liabilities and Equity: Accounts payable to affiliates of
$199,012, Accounts payable and
accrued expenses of $40,680 and Deferred revenue of $135,145
<F3>Included in Total Revenue: Investment of $86,737 and Other of $148,438
<F4>Included in Other Expenses: General and administrative of $127,176, Asset
management fees of $125,682 and Amortization of $11,798 <F5>Included in Net
Loss: Equity in losses of Local Limited Partnerships of $866,524
</FN>
</TABLE>