<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> MAR-31-2001
<PERIOD-END> JUN-30-2000
<CASH> 175,956
<SECURITIES> 2,602,963
<RECEIVABLES> 000
<ALLOWANCES> 000
<INVENTORY> 000
<CURRENT-ASSETS> 000
<PP&E> 000
<DEPRECIATION> 000
<TOTAL-ASSETS> 25,105,203<F1>
<CURRENT-LIABILITIES> 000
<BONDS> 000
000
000
<COMMON> 000
<OTHER-SE> 24,937,790
<TOTAL-LIABILITY-AND-EQUITY> 25,105,203<F2>
<SALES> 000
<TOTAL-REVENUES> 51,485<F3>
<CGS> 000
<TOTAL-COSTS> 000
<OTHER-EXPENSES> 145,194<F4>
<LOSS-PROVISION> 000
<INTEREST-EXPENSE> 000
<INCOME-PRETAX> 000
<INCOME-TAX> 000
<INCOME-CONTINUING> 000
<DISCONTINUED> 000
<EXTRAORDINARY> 000
<CHANGES> 000
<NET-INCOME> (612,050)<F5>
<EPS-BASIC> (11.90)
<EPS-DILUTED> 000
<FN>
<F1>Included in Total Assets: Investments in Local Limited Partnerships of
$22,010,075, Restricted cash of $284,311 and Other assets of $31,898
<F2>Included in Total Liabilities and Equity: Accounts payable to affiliates of
$131,348 and Accounts payable and accrued expenses of $36,065 <F3>Included in
Total revenue: Investment of $40,359 and Other of $11,126 <F4>Included in Other
Expenses: Asset management fees of $75,499, General and administrative of
$61,649 and Amortization of $8,046 <F5>Included in Net Loss: Equity in losses of
Local Limited Partnerships of $518,341 </FN>
</TABLE>