1
FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark One)
(X) QUARTERLY REPORT PERSUANT TO SECTION 13 OR 15 (D) OF THE
SECURITIES EXCHANGE ACT OF 1934.
For the quarterly period ended September 30, 2000
or
( ) TRANSITION REPORT PERSUANT 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 Identification No.)
organization)
One Boston Place, Suite 2100, Boston, Massachusetts 02108
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code (617)624-8900
(Former name, former address and former fiscal year, if changed
since last report)
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 preceeding 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 X No _
BOSTON CAPITAL TAX CREDIT FUND IV L.P.
QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTER ENDED SEPTEMBER 30, 2000
TABLE OF CONTENTS
FOR THE QUARTER ENDED SEPTEMBER 30, 2000 5
BALANCE SHEETS 5
SERIES 20 6
SERIES 21 7
SERIES 22 8
SERIES 23 9
SERIES 24 10
SERIES 25 11
SERIES 26 12
SERIES 27 13
SERIES 28 14
SERIES 29 15
SERIES 30 16
SERIES 31 17
SERIES 32 18
SERIES 33 19
SERIES 34 20
SERIES 35 21
SERIES 36 22
SERIES 37 23
SERIES 38 24
SERIES 39 25
STATEMENTS OF OPERATIONS 26
THREE MONTHS ENDED SEPTEMBER 30, 26
SERIES 20 27
SERIES 21 28
SERIES 22 29
SERIES 23 30
SERIES 24 31
SERIES 25 32
SERIES 26 33
SERIES 27 34
SERIES 28 35
SERIES 29 36
SERIES 30 37
SERIES 31 38
SERIES 32 39
SERIES 33 40
SERIES 34 41
SERIES 35 42
SERIES 36 43
SERIES 37 44
SERIES 38 44
SERIES 39 45
SIX MONTHS ENDED SEPTEMBER 30, 46
SERIES 20 47
SERIES 21 48
SERIES 22 49
SERIES 23 50
SERIES 24 51
SERIES 25 52
SERIES 26 53
SERIES 27 54
SERIES 28 55
SERIES 29 56
SERIES 30 57
SERIES 31 58
SERIES 32 59
SERIES 33 60
SERIES 34 61
SERIES 35 62
SERIES 36 63
SERIES 37 64
SERIES 38 64
SERIES 39 65
STATEMENTS OF CHANGES IN PARTNERS CAPITAL 66
SERIES 20 67
SERIES 21 67
SERIES 22 68
SERIES 23 68
SERIES 24 69
SERIES 25 69
SERIES 26 70
SERIES 27 70
SERIES 28 71
SERIES 29 71
SERIES 30 72
SERIES 31 72
SERIES 32 73
SERIES 33 73
SERIES 34 74
SERIES 35 74
SERIES 36 75
SERIES 37 75
SERIES 38 76
SERIES 39 76
STATEMENTS OF CASH FLOWS 77
SIX MONTHS ENDED SEPTEMBER
77
SERIES 20 79
SERIES 21 81
SERIES 22 83
SERIES 23 85
SERIES 24 87
SERIES 25 89
SERIES 26 91
SERIES 27 93
SERIES 28 95
SERIES 29 97
SERIES 30 99
SERIES 31 101
SERIES 32 103
SERIES 33 105
SERIES 34 107
SERIES 35 109
SERIES 36 111
SERIES 37 113
SERIES 38 113
SERIES 39 115
NOTES TO FINANCIAL STATEMENTS 117
NOTE A - ORGANIZATION 117
NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES
118
INVESTMENT SECURITIES 118
COST 120
NOTE C - RELATED PARTY TRANSACTIONS 120
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS 121
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS 123
SERIES 20 123
SERIES 21 124
SERIES 22 125
SERIES 23 126
SERIES 24 127
SERIES 25 128
SERIES 26 129
SERIES 27 130
SERIES 28 131
SERIES 29 132
SERIES 30 133
SERIES 31 134
SERIES 32 135
SERIES 33 136
SERIES 34 137
SERIES 35 138
SERIES 36 138
LIQUIDITY 140
CAPITAL RESOURCES 140
RESULTS OF OPERATIONS 147
YEAR 2000 COMPLIANCE 154
PART II - OTHER INFORMATION 155
SIGNATURES 156
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $411,036,916 $387,774,608
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 18,996,195 15,484,389
Investments 15,826,908 33,246,886
Notes receivable 13,785,750 14,280,633
Acquisition costs 15,904,088 13,304,610
Other assets 16,952,088 14,057,243
$492,501,945 $478,148,369
LIABILITIES
Accounts payable & accrued
expenses $ 597,023 $ 427,847
(Note C)
Accounts payable affiliates 8,641,119 7,121,923
Capital contributions payable 51,197,865 53,534,052
Line of credit 4,306,159 976,349
64,742,166 62,060,171
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
60,212,459 issued and 416,025,620
outstanding, 427,800,968
as of September 30, 2000
General Partner (871,704) (767,937)
Unrealized gain (loss) on
securities 830,515 830,515
available for sale, net
427,759,779 416,088,198
$492,501,945 $478,148,369
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 20
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 17,821,125 $ 18,752,214
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 257,860 312,723
Investments - -
Notes receivable - -
Acquisition costs 92,877 94,663
Other assets 772,845 694,211
$ 18,944,707 $ 19,853,811
LIABILITIES
Accounts payable & accrued
expenses $ - $ -
(Note C)
Accounts payable affiliates 1,900,836 1,711,212
Capital contributions payable 388,026 388,026
Line of credit - -
2,288,862 2,099,238
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
3,866,700 issued and 17,907,592
outstanding, 16,819,851
as of September 30, 2000
General Partner (164,006) (153,019)
Unrealized gain (loss) on
securities - -
available for sale, net
16,655,845 17,754,573
$ 18,944,707 $ 19,853,811
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 21
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 6,168,395 $ 6,653,822
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 281,732 272,223
Investments 578,751 587,397
Notes receivable 641,542 641,542
Acquisition costs 50,800 51,777
Other assets 341,452 343,017
$ 8,062,672 $ 8,549,778
LIABILITIES
Accounts payable & accrued
expenses $ - $ -
(Note C)
Accounts payable affiliates 762,430 649,510
Capital contributions payable 683,688 683,688
Line of credit - -
1,446,118 1,333,198
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
1,892,700 issued and 6,694,061 7,288,087
outstanding,
as of September 30, 2000
General Partner (95,971) (89,971)
Unrealized gain (loss) on
securities 18,464 18,464
for sale, net
6,616,554 7,216,580
$ 8,062,672 $ 8,549,778
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 22
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 13,085,814 $ 13,754,315
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 278,996 271,654
Investments 306,866 311,407
Notes receivable 450,981 450,981
Acquisition costs 159,634 162,704
Other assets 162,264 163,633
$ 14,444,555 $ 15,114,694
LIABILITIES
Accounts payable & accrued
expenses $ - $ -
(Note C)
Accounts payable affiliates 1,173,443 1,046,145
Capital contributions payable 538,769 538,769
Line of credit - -
1,712,212 1,584,914
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
2,564,400 issued and 13,603,885
outstanding, 12,814,422
as of September 30, 2000
General Partner (91,855) (83,881)
Unrealized gain (loss) on
securities 9,776 9,776
for sale, net
12,732,343 13,529,780
$ 14,444,555 $ 15,114,694
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 23
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 19,669,432 $ 20,257,128
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 329,250 339,179
Investments - -
Notes receivable 306,751 306,751
Acquisition costs 162,400 165,523
Other assets 378,455 378,455
$ 20,846,288 $ 21,447,036
LIABILITIES
Accounts payable & accrued
expenses $ - $ -
(Note C)
Accounts payable affiliates 648,551 528,418
Capital contributions payable 458,632 458,631
Line of credit $ - -
1,107,183 987,049
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
3,336,727 issued and 20,540,234
outstanding, 19,826,561
as of September 30, 2000
General Partner (87,456) (80,247)
Unrealized gain (loss) on
securities -
for sale, net
19,739,105 20,459,987
$ 20,846,288 $ 21,447,036
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 24
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 11,794,444 $ 12,542,793
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 246,143 294,853
Investments 260,369 264,336
Notes receivable 534,342 534,342
Acquisition costs 265,319 270,421
Other assets 697,630 677,968
$ 13,798,247 $ 14,584,713
LIABILITIES
Accounts payable & accrued
expenses $ - $ -
(Note C)
Accounts payable affiliates 896,289 779,611
Capital contributions payable
1,214,204 1,259,345
Line of credit - -
2,110,493 2,038,956
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
2,169,878 issued and 11,747,966 12,597,389
outstanding,
as of September 30, 2000
General Partner (68,504) (59,924)
Unrealized gain (loss) on
securities 8,292 8,292
for sale, net
11,687,754 12,545,757
$ 13,798,247 $ 14,584,713
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 25
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 18,146,962 $ 18,948,606
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 482,871 526,832
Investments 596,230 605,151
Notes receivable 523,193 523,193
Acquisition costs 266,455 271,579
Other assets 1,323,317 1,323,125
$ 21,339,028 $ 22,198,486
LIABILITIES
Accounts payable & accrued
expenses $ - $ -
(Note C)
Accounts payable affiliates 681,690 545,352
Capital contributions payable 2,384,755 2,516,436
Line of credit - -
3,066,445 3,061,788
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
3,026,109 issued and 19,183,968
outstanding, 18,328,494
as of September 30, 2000
General Partner (74,908) (66,267)
Unrealized gain (loss) on
securities 18,997 18,997
for sale, net
18,272,583 19,136,698
$ 21,339,028 $ 22,198,486
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 26
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 28,140,107 $ 28,691,064
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 316,318 201,802
Investments 7,044 224,505
Notes receivable 586,335 586,335
Acquisition costs 451,408 460,089
Other assets 2,491,269 2,512,111
$ 31,992,481 $ 32,675,906
LIABILITIES
Accounts payable & accrued
expenses $ 90 $ 90
(Note C)
Accounts payable affiliates
910,214 691,428
Capital contributions payable
2,527,938 2,709,059
Line of credit - -
3,438,242 3,400,577
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
3,995,900 issued and 29,315,855
outstanding, 28,601,976
as of September 30, 2000
General Partner (54,781) (47,570)
Unrealized gain (loss) on
securities 7,044 7,044
for sale, net
28,554,239 29,275,329
$ 31,992,481 $ 32,675,906
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 27
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 15,940,659 $ 16,392,639
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 451,920 250,061
Investments 373,524 567,355
Notes receivable 99,549 99,549
Acquisition costs 388,615 396,089
Other assets 352,908 893,060
$ 17,607,175 $ 18,598,753
LIABILITIES
Accounts payable & accrued
expenses $ - $ -
(Note C)
Accounts payable affiliates 902,097
744,494
Capital contributions payable 514,918
1,063,367
Line of credit -
1,417,015 1,807,861
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
2,460,700 issued and 16,811,783
outstanding, 16,217,058
as of September 30, 2000
General Partner (44,723) (38,716)
Unrealized gain (loss) on
securities 17,825 17,825
for sale, net
16,190,160 16,790,892
$ 17,607,175 $ 18,598,753
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 28
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 28,927,769 $ 29,621,967
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 1,537,984 1,096,622
Investments 1,457,850 2,018,028
Notes receivable 1,477,458 1,477,458
Acquisition costs 85,811 87,462
Other assets 3,363 3,018
$ 33,490,235 $ 34,304,555
LIABILITIES
Accounts payable & accrued
expenses $ - $ -
(Note C)
Accounts payable affiliates
104 104
Capital contributions payable 2,463,113 2,484,505
Line of credit - -
2,463,217 2,484,609
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
4,000,738 issued and 31,782,620
outstanding, 30,997,621
as of September 30, 2000
General Partner (34,113) (26,184)
Unrealized gain (loss) on
securities 63,510 63,510
for sale, net
31,027,018 31,819,946
$ 33,490,235 $ 34,304,555
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 29
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 28,078,024 $ 28,738,405
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 762,332 387,679
Investments 615,147 1,706,936
Notes receivable 835,878 835,878
Acquisition costs 84,421 86,047
Other assets 886 17,796
$ 30,376,688 $ 31,772,741
LIABILITIES
Accounts payable & accrued
expenses $ - $ -
(Note C)
Accounts payable affiliates 36 36
Capital contributions payable 1,410,987 2,060,981
Line of credit - -
1,411,023 2,061,017
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
3,991,800 issued and 28,981,037 29,719,635
outstanding,
as of September 30, 2000
General Partner (49,330) (41,869)
Unrealized gain (loss) on
securities 33,958 33,958
for sale, net
28,965,665 29,711,724
$ 30,376,688 $ 31,772,741
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 30
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 19,859,846 $ 20,143,589
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 864,714 403,328
Investments 1,348,988 2,229,119
Notes receivable 85,438 85,438
Acquisition costs 551,536 561,263
Other assets 687,833 609,524
$ 23,398,355 $ 24,032,261
LIABILITIES
Accounts payable & accrued
expenses $ - $ -
(Note C)
Accounts payable affiliates 7,524 7,524
Capital contributions payable 2,249,961 2,502,751
Line of credit - -
2,257,485 2,510,275
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
2,651,000 issued and 21,471,225
outstanding, 21,093,920
as of September 30, 2000
General Partner (16,280) (12,469)
Unrealized gain (loss) on
securities 63,230 63,230
for sale, net
21,140,870 21,521,986
$ 23,398,355 $ 24,032,261
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 31
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 31,801,420 $ 32,353,530
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 1,260,463 1,449,979
Investments 839,562 2,576,842
Notes receivable 655,675 2,361,971
Acquisition costs - -
Other assets 530,691 593,010
$ 35,087,811 $ 39,335,332
LIABILITIES
Accounts payable & accrued
expenses $ 1,660 $ 2,975
(Note C)
Accounts payable affiliates 26,655 26,655
Capital contributions payable 1,633,203 4,973,344
Line of credit - -
1,661,518 5,002,974
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
4,417,857 issued and 34,298,592
outstanding, 33,401,588
as of September 30, 2000
General Partner (45,702) (36,641)
Unrealized gain (loss) on
securities 70,407 70,407
for sale, net
33,426,293 34,332,358
$ 35,087,811 $ 39,335,332
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 32
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 37,211,722 $ 37,641,580
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 1,418,974 240,584
Investments 1,570,422 2,832,134
Notes receivable 914,126 914,126
Acquisition costs 779,950 793,104
Other assets 883,418 1,680,500
$ 42,778,612 $ 44,102,028
LIABILITIES
Accounts payable & accrued
expenses $ - $ -
(Note C)
Accounts payable affiliates 314,402 148,654
Capital contributions payable 3,495,858 4,476,034
Line of credit - -
3,810,260 4,624,688
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
4,754,198 issued and 39,409,396
outstanding, 38,905,498
as of September 30, 2000
General Partner (17,482) (12,392)
Unrealized gain (loss) on
securities 80,336 80,336
for sale, net
38,968,352 39,477,340
$ 42,778,612 $ 44,102,028
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 33
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 20,817,286 $ 20,996,032
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 1,378,020 597,735
Investments 1,891,648 3,156,657
Notes receivable 154,400 40,825
Acquisition costs 706,283 705,560
Other assets 132,261 4,378
$ 25,079,898 $ 25,501,187
LIABILITIES
Accounts payable & accrued
expenses $ - $ -
(Note C)
Accounts payable affiliates 156,401 71,735
Capital contributions payable 2,932,896 3,272,919
Line of credit - -
3,089,297 3,344,654
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
2,636,533 issued and 22,072,254
outstanding, 21,907,981
as of September 30, 2000
General Partner (6,769) (5,110)
Unrealized gain (loss) on
securities 89,389 89,389
for sale, net
21,990,601 22,156,533
$ 25,079,898 $ 25,501,187
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 34
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 27,559,620 $ 27,688,578
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 1,197,700 672,010
Investments 821,274 3,361,452
Notes receivable 639,562 1,390,612
Acquisition costs 1,124,773 1,117,212
Other assets 1,188,686 1,222,417
$ 32,531,615 $ 35,452,281
LIABILITIES
Accounts payable & accrued
expenses $ - $ -
(Note C)
Accounts payable affiliates
10,656 10,656
Capital contributions payable 3,293,777 5,964,656
Line of credit - -
3,304,433 5,975,312
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
3,529,319 issued and 29,388,210
outstanding, 29,140,921
as of September 30, 2000
General Partner (9,091) (6,593)
Unrealized gain (loss) on
securities 95,352 95,352
for sale, net
29,227,182 29,476,969
$ 32,531,615 $ 35,452,281
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 35
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 22,379,853 $ 22,595,066
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 484,207 701,756
Investments 3,275,419 6,015,592
Notes receivable 924,342 650,000
Acquisition costs 3,181,613 3,210,646
Other assets 126,079 447,482
$ 30,371,513 $ 33,620,542
LIABILITIES
Accounts payable & accrued
expenses $ 224 $ 1,943
(Note C)
Accounts payable affiliates
105,603 78,795
Capital contributions payable 2,595,358 5,528,412
Line of credit - -
2,701,185 5,609,150
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
3,300,463 issued and 27,937,304
outstanding, 27,599,646
as of September 30, 2000
General Partner (6,090) (2,684)
Unrealized gain (loss) on
securities 76,772 76,772
for sale, net
27,670,328 28,011,392
$ 30,371,513 $ 33,620,542
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 36
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 15,196,992 $ 15,225,618
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 473,199 328,095
Investments 325,781 2,430,792
Notes receivable 806,569 1,635,636
Acquisition costs 2,157,898 2,132,600
Other assets 1,165,853 1,407,708
$ 20,126,292 $ 23,160,449
LIABILITIES
Accounts payable & accrued
expenses $ - $ -
(Note C)
Accounts payable affiliates 55,884 30,944
Capital contributions payable 2,600,709 5,509,534
Line of credit - -
2,656,593 5,540,478
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
2,106,837 issued and 17,569,744
outstanding, 17,420,923
as of September 30, 2000
General Partner (4,499) (3,048)
Unrealized gain (loss) on
securities 53,275 53,275
for sale, net
17,469,699 17,619,971
$ 20,126,292 $ 23,160,449
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 37
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 17,384,644 $ 13,325,744
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 3,046,721 5,952,947
Investments 857,472 4,359,183
Notes receivable 4,149,609 1,745,996
Acquisition costs 2,309,264 2,313,395
Other assets 21,061 317,829
$ 27,768,771 $ 28,015,094
LIABILITIES
Accounts payable & accrued
expenses $ 350 $ 350
(Note C)
Accounts payable affiliates
20,382 29,802
Capital contributions payable 5,941,684 6,239,395
Line of credit - -
5,962,416 6,269,547
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
2,512,500 issued and 21,622,194
outstanding, 21,682,300
as of September 30, 2000
General Partner 167 (535)
Unrealized gain (loss) on
securities 123,888 123,888
for sale, net
21,806,355 21,745,547
$ 27,768,771 $ 28,015,094
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 38
September 30, March 31,
2000 2000
(Unaudited) (Audited)
ASSETS
INVESTMENTS IN OPERATING $ 19,117,621 $ 3,451,918
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 3,826,359 1,184,327
Investments 700,561 -
Notes receivable - -
Acquisition costs 2,589,076 424,476
Other assets 2,966,039 768,001
$ 29,199,656 $ 5,828,722
LIABILITIES
Accounts payable & accrued
expenses $ 6,320 $ 422,489
(Note C)
Accounts payable affiliates 30,232 20,848
Capital contributions payable 7,368,505 904,200
Line of credit - 976,349
7,405,057 2,323,886
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
1,832,000 issued and 3,505,653
outstanding, 21,794,771
as of September 30, 2000
General Partner (172) (817)
Unrealized gain (loss) on
securities - -
for sale, net
21,794,599 3,504,836
$ 29,199,656 $ 5,828,722
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS
Series 39*
September 30,
2000
(Unaudited)
ASSETS
INVESTMENTS IN OPERATING $ 11,935,181
PARTNERSHIPS (Note D)
OTHER ASSETS
Cash and cash equivalents 100,432
Investments -
Notes receivable -
Acquisition costs 495,955
Other assets 2,725,778
$ 15,257,346
LIABILITIES
Accounts payable & accrued
expenses $ 588,379
(Note C)
Accounts payable affiliates 37,690
Capital contributions payable 6,500,884
Line of credit 4,306,159
11,433,112
PARTNERS CAPITAL
Limited Partners
Units of limited partnership
interest, $10 stated value per
BAC;
65,000,000 authorized BACs;
455,000 issued and 3,824,373
outstanding,
as of September 30, 2000
General Partner (139)
Unrealized gain (loss) on
securities -
for sale, net
3,824,234
$ 15,257,346
*Series 39 did not commence operations until after March
31, 2000,
therefore, it does not have comparative information to
report.
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
2000 1999
Income
Interest income $ 832,357 $ 808,037
Other income - 1,350
832,357 809,387
Share of loss from Operating
Partnerships(Note D) (3,966,301) (3,495,782)
Expenses
Professional fees 311,429 318,868
Fund management fee (Note C) 1,150,135 985,250
Organization costs - 672,854
Amortization 125,293 16,709
General and administrative 252,461 383,183
expenses
1,839,318 2,376,864
NET INCOME (LOSS) $(4,973,262) $(5,063,259)
Net income (loss) allocated to $(4,923,527) $(5,012,626)
limited
partners
Net income (loss) allocated general $ (49,735) $ (50,633)
partner
Net income (loss) per BAC $ (1.60) $ (1.63)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 20
2000 1999
Income
Interest income $ 989 $ 857
Other income - 1,200
989 2,057
Share of loss from Operating
Partnerships(Note D) (501,964) (432,154)
Expenses
Professional fees 16,000 20,050
Fund management fee (Note C) 73,214 52,115
Organization costs - 4,786
Amortization 893 893
General and administrative 9,364 10,564
expenses
99,471 88,408
NET INCOME (LOSS) $ (600,446) $ (518,505)
Net income (loss) allocated to $ (594,442) $ (513,320)
limited
partners
Net income (loss) allocated general $ (6,004) $ (5,185)
partner
Net income (loss) per BAC $ (.15) $ (.13)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 21
2000 1999
Income
Interest income $ 8,371 $ 15,721
Other income - -
8,371 15,721
Share of loss from Operating
Partnerships(Note D) (197,967) (258,066)
Expenses
Professional fees 11,909 13,137
Fund management fee (Note C) 54,460 25,052
Organization costs - -
Amortization 488 488
General and administrative 6,846 11,533
expenses
73,703 50,210
NET INCOME (LOSS) $ (263,299) $ (292,555)
Net income (loss) allocated to $ (260,666) $ (289,629)
limited
partners
Net income (loss) allocated general $ (2,633) $ (2,926)
partner
Net income (loss) per BAC $ (.14) $ (.15)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 22
2000 1999
Income
Interest income $ 4,702 $ 6,074
Other income - -
4,702 6,074
Share of loss from Operating
Partnerships(Note D) (300,072) (253,073)
Expenses
Professional fees 16,982 17,164
Fund management fee (Note C) 61,336 59,539
Organization costs - 6,559
Amortization 1,535 3,070
General and administrative 8,157 9,964
expenses
88,010 96,296
NET INCOME (LOSS) $ (383,380) $ (343,295)
Net income (loss) allocated to $ (379,546) $ (339,862)
limited
partners
Net income (loss) allocated general $ (3,834) $ (3,433)
partner
Net income (loss) per BAC $ (.15) $ (.13)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 23
2000 1999
Income
Interest income $ 2,487 $ 1,943
Other income - 150
2,487 2,093
Share of loss from Operating
Partnerships(Note D) (274,849) (264,218)
Expenses
Professional fees 16,000 16,000
Fund management fee (Note C) 60,066 46,066
Organization costs - 13,665
Amortization 1,562 1,562
General and administrative 9,129 9,624
expenses
86,757 86,917
NET INCOME (LOSS) $ (359,119) $ (349,042)
Net income (loss) allocated to $ (355,528) $ (345,552)
limited
partners
Net income (loss) allocated general $ (3,591) $ (3,490)
partner
Net income (loss) per BAC $ (.11) $ (.10)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 24
2000 1999
Income
Interest income $ 4,150 $ 4,499
Other income - -
4,150 4,499
Share of loss from Operating
Partnerships(Note D) (360,221) (307,392)
Expenses
Professional fees 21,052 16,458
Fund management fee (Note C) 58,338 57,838
Organization costs - 16,225
Amortization 2,551 2,551
General and administrative 6,171 7,854
expenses
88,112 100,926
NET INCOME (LOSS) $ (444,183) $ (403,819)
Net income (loss) allocated to $ (439,741) $ (399,781)
limited
partners
Net income (loss) allocated general $ (4,442) $ (4,038)
partner
Net income (loss) per BAC $ (.20) $ (.18)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 25
2000 1999
Income
Interest income $ 9,926 $ 12,784
Other income - -
9,926 12,784
Share of loss from Operating
Partnerships(Note D) (344,309) (381,809)
Expenses
Professional fees 18,705 17,290
Fund management fee (Note C) 64,969 60,819
Organization costs - 15,732
Amortization 3,805 3,805
General and administrative 6,927 12,314
expenses
94,406 109,960
NET INCOME (LOSS) $ (428,789) $ (478,985)
Net income (loss) allocated to $ (424,501) $ (474,195)
limited
partners
Net income (loss) allocated general $ (4,288) $ (4,790)
partner
Net income (loss) per BAC $ (.14) $ (.16)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 26
2000 1999
Income
Interest income $ 2,918 $ 22,620
Other income - -
2,918 22,620
Share of loss from Operating
Partnerships(Note D) (253,933) (217,892)
Expenses
Professional fees 23,919 24,646
Fund management fee (Note C) 87,243 93,835
Organization costs - 37,863
Amortization 4,340 4,340
General and administrative 8,597 16,040
expenses
124,099 176,724
NET INCOME (LOSS) $(375,114) $ (371,996)
Net income (loss) allocated to $(371,363) $ (368,276)
limited
partners
Net income (loss) allocated general $ (3,751) $ (3,720)
partner
Net income (loss) per BAC $ (.09) $ (.09)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 27
2000 1999
Income
Interest income $ 7,258 $ 5,197
Other income - -
7,258 5,197
Share of loss from Operating
Partnerships(Note D) (187,763) (288,571)
Expenses
Professional fees 13,821 14,238
Fund management fee (Note C) 64,601 74,639
Organization costs - 34,925
Amortization 3,914 -
General and administrative 5,752 10,723
expenses
88,088 134,525
NET INCOME (LOSS) $ (268,593) $ (417,899)
Net income (loss) allocated to $ (265,907) $ (413,720)
limited
partners
Net income (loss) allocated general $ (2,686) $ (4,179)
partner
Net income (loss) per BAC $ (.11) $ (.17)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 28
2000 1999
Income
Interest income $ 41,602 $ 68,913
Other income - -
41,602 68,913
Share of loss from Operating
Partnerships(Note D) (266,163) (319,392)
Expenses
Professional fees 19,914 24,028
Fund management fee (Note C) 83,529 70,649
Organization costs - 50,815
Amortization 825 -
General and administrative 12,128 31,813
expenses
116,396 177,305
NET INCOME (LOSS) $ (340,957) $ (427,784)
Net income (loss) allocated to $ (337,547) $ (423,506)
limited
partners
Net income (loss) allocated general $ (3,410) $ (4,278)
partner
Net income (loss) per BAC $ (.02) $ (.11)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 29
2000 1999
Income
Interest income $ 39,241 $ 56,910
Other income - -
39,241 56,910
Share of loss from Operating
Partnerships(Note D) (329,548) (381,906)
Expenses
Professional fees 17,557 23,898
Fund management fee (Note C) 73,895 82,494
Organization costs - 45,644
Amortization 813 -
General and administrative 8,318 25,398
expenses
100,583 177,434
NET INCOME (LOSS) $ (390,890) $ (502,430)
Net income (loss) allocated to $ (386,981) $ (497,406)
limited
partners
Net income (loss) allocated general $ (3,909) $ (5,024)
partner
Net income (loss) per BAC $ (.10) $ (.12)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 30
2000 1999
Income
Interest income $ 109,838 $ 54,810
Other income - -
109,838 54,810
Share of loss from Operating
Partnerships(Note D) (173,256) (30,907)
Expenses
Professional fees 16,605 22,009
Fund management fee (Note C) 50,479 48,026
Organization costs - 45,037
Amortization 5,303 -
General and administrative 23,909 22,235
expenses
96,296 137,307
NET INCOME (LOSS) $(159,714) $ (113,404)
Net income (loss) allocated to $(158,117) $ (112,270)
limited
partners
Net income (loss) allocated general $ (1,597) $ (1,134)
partner
Net income (loss) per BAC $ (.06) $ (.05)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 31
2000 1999
Income
Interest income $ 76,724 $ 64,484
Other income - -
76,724 64,484
Share of loss from Operating
Partnerships(Note D) (430,886) (375,349)
Expenses
Professional fees 19,263 24,822
Fund management fee (Note C) 86,876 92,874
Organization costs - 47,959
Amortization - -
General and administrative 8,919 24,675
expenses
115,058 190,330
NET INCOME (LOSS) $(469,220) $(501,195)
Net income (loss) allocated to $(464,527) $(496,183)
limited
partners
Net income (loss) allocated general $ (4,693) $ (5,012)
partner
Net income (loss) per BAC $ (.11) $ (.11)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 32
2000 1999
Income
Interest income $ 79,193 $ 98,510
Other income - -
79,193 98,510
Share of loss from Operating
Partnerships(Note D) (175,301) (20,843)
Expenses
Professional fees 19,615 21,587
Fund management fee (Note C) 75,375 85,067
Organization costs - 47,452
Amortization 9,074 -
General and administrative 10,393 38,554
expenses
114,457 192,660
NET INCOME (LOSS) $(210,565) $(114,993)
Net income (loss) allocated to $(208,459) $(113,843)
limited
partners
Net income (loss) allocated general $ (2,106) $ (1,150)
partner
Net income (loss) per BAC $ (.04) $ (.02)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 33
2000 1999
Income
Interest income $ 85,943 $ 95,422
Other income - -
85,943 95,422
Share of loss from Operating
Partnerships(Note D) (33,126) 56,128
Expenses
Professional fees 11,176 16,290
Fund management fee (Note C) 42,333 28,532
Organization costs - 79,116
Amortization 6,770 -
General and administrative 32,341 30,517
expenses
92,620 154,455
NET INCOME (LOSS) $ (39,803) $ (2,905)
Net income (loss) allocated to $ (39,405) $ (2,876)
limited
partners
Net income (loss) allocated general $ (398) $ (29)
partner
Net income (loss) per BAC $ (.01) $ (.77)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 34
2000 1999
Income
Interest income $ 53,814 $ 122,245
Other income - -
53,814 122,245
Share of loss from Operating
Partnerships(Note D) 32,584 (20,338)
Expenses
Professional fees 16,454 23,698
Fund management fee (Note C) 73,155 67,655
Organization costs - 104,919
Amortization 10,789 -
General and administrative 8,687 40,148
expenses
109,085 236,420
NET INCOME (LOSS) $ (22,687) $ (134,513)
Net income (loss) allocated to $ (22,460) $ (133,167)
limited
partners
Net income (loss) allocated general $ (227) $ (1,346)
partner
Net income (loss) per BAC $ (.01) $ (.04)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 35
2000 1999
Income
Interest income $ 55,955 $ 156,771
Other income - -
55,955 156,771
Share of loss from Operating
Partnerships(Note D) (115,304) -
Expenses
Professional fees 11,966 18,883
Fund management fee (Note C) 49,660 40,050
Organization costs - 122,157
Amortization 30,433 -
General and administrative 9,549 64,623
expenses
101,608 245,713
NET INCOME (LOSS) $(160,957) $ (88,942)
Net income (loss) allocated to $(159,347) $ (88,053)
limited
partners
Net income (loss) allocated general $ (1,610) $ (889)
partner
Net income (loss) per BAC $ (.05) $ (.03)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 36
2000 1999
Income
Interest income $ 20,140 $ 20,277
Other income - -
20,140 20,277
Share of loss from Operating
Partnerships(Note D) (54,223) -
Expenses
Professional fees 24,841 4,670
Fund management fee (Note C) 40,189 -
Organization costs - -
Amortization 20,817 -
General and administrative 14,979 16,597
expenses
100,826 21,267
NET INCOME (LOSS) $(134,909) $ (990)
Net income (loss) allocated to $(133,560) $ (980)
limited
partners
Net income (loss) allocated general $ (1,349) $ (10)
partner
Net income (loss) per BAC $ (.06) $ -
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 37* Series 38*
2000 2000
Income
Interest income $ 121,445 $ 105,717
Other income - -
121,445 105,717
Share of loss from Operating
Partnerships(Note D) - -
Expenses
Professional fees 10,216 5,434
Fund management fee (Note C) 26,697 23,720
Organization costs - -
Amortization 21,381 -
General and administrative 29,421 17,817
expenses
87,715 46,971
NET INCOME (LOSS) $ 33,730 $ 58,746
Net income (loss) allocated to $ 33,393 $ 58,159
limited
partners
Net income (loss) allocated general $ 337 $ 587
partner
Net income (loss) per BAC $ .01 $ -
*Series 37 and 38 did not commence operations until after
September 30, 1999,
thererfore they do not have comparative information to report.
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)
Series 39*
2000
Income
Interest income $ 1,944
Other income -
1,944
Share of loss from Operating
Partnerships(Note D) -
Expenses
Professional fees -
Fund management fee (Note C) -
Organization costs -
Amortization -
General and administrative 15,057
expenses
15,057
NET INCOME (LOSS) $(13,113)
Net income (loss) allocated to $(12,982)
limited
partners
Net income (loss) allocated general $ (131)
partner
Net income (loss) per BAC $ -
*Series 39 did not commence operations until September 30, 1999,
thererfore it does not have comparative information to report.
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
2000 1999
Income
Interest income $ $ 1,585,319
1,493,215
Other income - 6,900
1,493,215 1,592,219
Share of income (loss) from
Operating Partnerships(Note D) (8,402,139) (6,780,615)
Expenses
Professional fees 383,274 459,370
Fund management fee 2,230,676 1,898,732
Organization costs - 685,561
Amortization 250,721 30,349
General and administrative 603,082 748,670
expenses
3,467,753 3,822,682
NET INCOME (LOSS) $ (10,376,677) $ (9,101,078)
Net income (loss) allocated to $ (10,272,910) $ (9,010,067)
limited partners
Net income (loss) allocated general $ (103,767) $ (91,011)
partner
Net income (loss) per BAC $ (3.32) $ (2.92)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 20
2000 1999
Income
Interest income $ 2,365 $ 9,299
Other income - 6,750
2,365 16,049
Share of income (loss) from
Operating Partnerships(Note D) (915,917) (814,333)
Expenses
Professional fees 18,188 28,572
Fund management fee 147,747 126,403
Organization costs - 10,607
Amortization 1,786 1,786
General and administrative 17,455 18,775
expenses
185,176 186,143
NET INCOME (LOSS) $(1,098,728) $ (984,427)
Net income (loss) allocated to $(1,087,741) $ (974,583)
limited partners
Net income (loss) allocated general $ (10,987) $ (9,844)
partner
Net income (loss) per BAC $ (.28) $ (.25)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 21
2000 1999
Income
Interest income $ 21,637 $ 30,577
Other income - -
21,637 30,577
Share of income (loss) from
Operating Partnerships(Note D) (486,745) (568,000)
Expenses
Professional fees 13,560 20,114
Fund management fee 107,280 81,512
Organization costs - -
Amortization 977 977
General and administrative 13,101 21,133
expenses
134,918 123,736
NET INCOME (LOSS) $ (600,026) $ (661,159)
Net income (loss) allocated to $ (594,026) $ (654,547)
limited partners
Net income (loss) allocated general $ (6,000) $ (6,612)
partner
Net income (loss) per BAC $ (.31) $ (.35)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 22
2000 1999
Income
Interest income $ 12,126 $ 11,421
Other income - -
12,126 11,421
Share of income (loss) from
Operating Partnerships(Note D) (666,060) (446,727)
Expenses
Professional fees 18,947 25,285
Fund management fee 106,555 119,406
Organization costs - 9,694
Amortization 3,070 3,070
General and administrative 14,931 17,695
expenses
143,503 175,150
NET INCOME (LOSS) $ (797,437) $ (610,456)
Net income (loss) allocated to $ (789,463) $ (604,351)
limited partners
Net income (loss) allocated general $ (7,974) $ (6,105)
partner
Net income (loss) per BAC $ (.31) $ (.24)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 23
2000 1999
Income
Interest income $ 5,246 $ 4,660
Other income - 150
5,246 4,810
Share of income (loss) from
Operating Partnerships(Note D) (587,697) (532,506)
Expenses
Professional fees 17,332 21,824
Fund management fee 101,632 96,402
Organization costs - 16,933
Amortization 3,123 3,124
General and administrative 16,344 17,025
expenses
138,431 155,308
NET INCOME (LOSS) $ (720,882) $ (683,004)
Net income (loss) allocated to $ (713,673) $ (676,174)
limited partners
Net income (loss) allocated general $ (7,209) $ (6,830)
partner
Net income (loss) per BAC $ (.21) $ (.20)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 24
2000 1999
Income
Interest income $ 10,686 $ 8,898
Other income - -
10,686 8,898
Share of income (loss) from
Operating Partnerships(Note D) (703,210) (744,096)
Expenses
Professional fees 31,179 23,132
Fund management fee 115,551 78,820
Organization costs - 19,470
Amortization 5,102 5,102
General and administrative 13,647 17,844
expenses
165,479 144,368
NET INCOME (LOSS) $ (858,003) $ (879,566)
Net income (loss) allocated to $ (849,423) $ (870,770)
limited partners
Net income (loss) allocated general $ (8,580) $ (8,796)
partner
Net income (loss) per BAC $ (.39) $ (.40)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 25
2000 1999
Income
Interest income $ 25,647 $ 25,417
Other income - -
25,647 25,417
Share of income (loss) from
Operating Partnerships(Note D) (715,369) (865,403)
Expenses
Professional fees 24,589 23,792
Fund management fee 124,858 111,988
Organization costs - 18,354
Amortization 7,609 7,609
General and administrative 17,337 22,209
expenses
174,393 183,952
NET INCOME (LOSS) $ (864,115) $ (1,023,938)
Net income (loss) allocated to $ (855,474) $ (1,013,699)
limited partners
Net income (loss) allocated general $ (8,641) $ (10,239)
partner
Net income (loss) per BAC $ (.28) $ (.33)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 26
2000 1999
Income
Interest income $ 52,823 $ 45,431
Other income - -
52,823 45,431
Share of income (loss) from
Operating Partnerships(Note D) (530,058) (434,107)
Expenses
Professional fees 26,744 38,238
Fund management fee 190,538 166,106
Organization costs - 42,595
Amortization 8,681 8,681
General and administrative 17,892 30,538
expenses
243,855 286,158
NET INCOME (LOSS) $ (721,090) $ (674,834)
Net income (loss) allocated to $ (713,879) $ (668,086)
limited partners
Net income (loss) allocated general $ (7,211) $ (6,748)
partner
Net income (loss) per BAC $ (.18) $ (.17)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 27
2000 1999
Income
Interest income $ 19,550 $ 11,707
Other income - -
19,550 11,707
Share of income (loss) from
Operating Partnerships(Note D) (450,079) (457,666)
Expenses
Professional fees 15,505 19,954
Fund management fee 133,772 138,754
Organization costs - 38,806
Amortization 7,827 -
General and administrative 13,099 16,669
expenses
170,203 (214,183)
NET INCOME (LOSS) $ (600,732) $ (660,142)
Net income (loss) allocated to $ (594,725) $ (653,541)
limited partners
Net income (loss) allocated general $ (6,007) $ (6,601)
partner
Net income (loss) per BAC $ (.24) $ (.27)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 28
2000 1999
Income
Interest income $ 90,358 $ 139,977
Other income - -
90,358 139,977
Share of income (loss) from
Operating Partnerships(Note D) (670,249) (473,070)
Expenses
Professional fees 23,643 34,251
Fund management fee 161,723 146,726
Organization costs - 55,896
Amortization 1,650 -
General and administrative 26,021 64,119
expenses
213,037 300,992
NET INCOME (LOSS) $ (792,928) $ (634,085)
Net income (loss) allocated to $ (784,999) $ (627,744)
limited partners
Net income (loss) allocated general $ (7,929) $ (6,341)
partner
Net income (loss) per BAC $ (.20) $ (.16)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 29
2000 1999
Income
Interest income $ 66,365 $ 123,106
Other income - -
66,365 123,106
Share of income (loss) from
Operating Partnerships(Note D) (613,746) (645,632)
Expenses
Professional fees 20,214 33,334
Fund management fee 146,524 149,204
Organization costs - 49,448
Amortization 1,626 -
General and administrative 30,314 56,237
expenses
198,678 288,223
NET INCOME (LOSS) $ (746,059) $ (810,749)
Net income (loss) allocated to $ (738,598) $ (802,642)
limited partners
Net income (loss) allocated general $ (7,461) $ (8,107)
partner
Net income (loss) per BAC $ (.19) $ (.20)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 30
2000 1999
Income
Interest income $ 144,566 $ 124,237
Other income - -
144,566 124,237
Share of income (loss) from
Operating Partnerships(Note D) (359,212) (82,778)
Expenses
Professional fees 21,421 32,233
Fund management fee 96,158 86,039
Organization costs - 48,501
Amortization 10,601 -
General and administrative 38,290 50,051
expenses
166,470 216,824
NET INCOME (LOSS) $ (381,116) $ (175,365)
Net income (loss) allocated to $ (377,305) $ (173,611)
limited partners
Net income (loss) allocated general $ (3,811) $ (1,754)
partner
Net income (loss) per BAC $ (.14) $ (.07)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 31
2000 1999
Income
Interest income $ 91,957 $ 130,258
Other income - -
91,957 130,258
Share of income (loss) from
Operating Partnerships(Note D) (793,104) (984,633)
Expenses
Professional fees 23,604 35,531
Fund management fee 143,052 182,598
Organization costs - 51,385
Amortization - -
General and administrative 38,262 49,374
expenses
204,918 318,888
NET INCOME (LOSS) $ (906,065) $ (1,173,263)
Net income (loss) allocated to $ (897,004) $ (1,161,530)
limited partners
Net income (loss) allocated general $ (9,061) $ (11,733)
partner
Net income (loss) per BAC $ (.20) $ (.26)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 32
2000 1999
Income
Interest income $ 125,026 $ 229,312
Other income - -
125,026 229,312
Share of income (loss) from
Operating Partnerships(Note D) (382,059) 65,164
Expenses
Professional fees 23,889 33,591
Fund management fee 157,750 153,113
Organization costs - 50,418
Amortization 18,140 -
General and administrative 52,176 76,829
expenses
251,955 313,951
NET INCOME (LOSS) $ (508,988) $ (19,475)
Net income (loss) allocated to $ (503,898) $ (19,280)
limited partners
Net income (loss) allocated general $ (5,090) $ (195)
partner
Net income (loss) per BAC $ (.11) $ (.06)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 33
2000 1999
Income
Interest income $ 139,785 $ 196,891
Other income - -
139,785 196,891
Share of income (loss) from
Operating Partnerships(Note D) (143,852) 133,510
Expenses
Professional fees 16,697 25,760
Fund management fee 80,246 83,249
Organization costs - 83,771
Amortization 13,472 -
General and administrative 51,450 68,394
expenses
161,865 261,174
NET INCOME (LOSS) $ (165,932) $ 69,227
Net income (loss) allocated to $ (164,273) $ 68,535
limited partners
Net income (loss) allocated general $ (1,659) $ 692
partner
Net income (loss) per BAC $ (.06) $ (.03)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 34
2000 1999
Income
Interest income $ 106,810 $ 245,196
Other income - -
106,810 245,196
Share of income (loss) from
Operating Partnerships(Note D) (124,985) (20,338)
Expenses
Professional fees 21,246 35,263
Fund management fee 146,310 115,315
Organization costs - 110,441
Amortization 21,426 -
General and administrative 42,630 83,024
expenses
231,612 344,043
NET INCOME (LOSS) $ (249,787) $ (119,185)
Net income (loss) allocated to $ (247,289) $ (117,993)
limited partners
Net income (loss) allocated general $ (2,498) $ (1,192)
partner
Net income (loss) per BAC $ (.07) $ (.03)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 35
2000 1999
Income
Interest income $ 153,739 $ 228,655
Other income - -
153,739 228,655
Share of income (loss) from
Operating Partnerships(Note D) (234,218) -
Expenses
Professional fees 16,254 23,826
Fund management fee 104,320 63,097
Organization costs - 79,242
Amortization 60,729 -
General and administrative 78,782 122,157
expenses
260,085 288,322
NET INCOME (LOSS) $ (340,564) $ (59,667)
Net income (loss) allocated to $ (337,158) $ (59,070)
limited partners
Net income (loss) allocated general $ (3,406) $ (597)
partner
Net income (loss) per BAC $ (.10) $ (.01)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 36
2000 1999
Income
Interest income $ 54,104 $ 20,277
Other income - -
54,104 20,277
Share of income (loss) from
Operating Partnerships(Note D) (25,579) -
Expenses
Professional fees 27,689 4,670
Fund management fee 77,614 -
Organization costs - -
Amortization 42,307 -
General and administrative 26,016 16,597
expenses
173,626 21,267
NET INCOME (LOSS) $ (145,101) $ (990)
Net income (loss) allocated to $ (143,650) $ (980)
limited partners
Net income (loss) allocated general $ (1,451) $ (10)
partner
Net income (loss) per BAC $ (.07) $ -
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 37* Series 38*
2000 2000
Income
Interest income $ 233,634 $ 134,847
Other income - -
233,634 134,847
Share of income (loss) from
Operating Partnerships(Note D) - -
Expenses
Professional fees 15,639 6,184
Fund management fee 53,394 35,652
Organization costs - -
Amortization 42,595 -
General and administrative 51,762 28,516
expenses
163,390 70,352
NET INCOME (LOSS) $ 70,244 $ 64,495
Net income (loss) allocated to $ 69,542 $ 63,850
limited partners
Net income (loss) allocated general $ 702 $ 645
partner
Net income (loss) per BAC $ (.03) $ -
*Series 37 and 38 did not commence operations until after
September 30, 1999
therefore, they do not have comparative information to report.
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)
Series 39*
2000
Income
Interest income $ 1,944
Other income -
1,944
Share of income (loss) from
Operating Partnerships(Note D) -
Expenses
Professional fees 750
Fund management fee -
Organization costs -
Amortization -
General and administrative 15,057
expenses
15,807
NET INCOME (LOSS) $ (13,863)
Net income (loss) allocated to $ (13,724)
limited partners
Net income (loss) allocated general $ (139)
partner
Net income (loss) per BAC $ -
*Series 39 did not commence operations until after September 30,
1999
therefore, it does not have comparative information to report.
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Six Months Ended September 30,
(Unaudited)
Accumulated
General or other
Partner comprehensiv
Assignees e Total
income
Partners Capital
(deficit)
April 1, 2000 $ $ $ 830,515 $
416,025,620 (767,937) 416,088,198
Capital contributions 25,518,000 - - 25,518,000
Selling commissions
and (3,469,742) - - (3,469,742)
registration costs
Net income (loss) (10,272,910 (103,767) - (10,376,677)
)
Partners capital
(deficit),
September 30, 2000 $ $ (871,704) $ 830,515 $
427,800,968 427,759,779
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Six Months Ended September 30,
(Unaudited)
Accumulated
General or other
Partner comprehensiv
Assignees e Total
income
Series 20
Partners Capital
(deficit)
April 1, 2000 $ $ (153,019) $ - $ 17,754,573
17,907,592
Capital contributions - - - -
Selling commissions
and - - - -
registration costs
Net income (loss) (1,087,741) (10,987) - (1,098,728)
Partners capital
(deficit),
September 30, 2000 $ $ (164,006) $ - $ 16,655,845
16,819,851
Series 21
Partners Capital
(deficit)
April 1, 2000 $ $ (89,971) $ 18,464 $ 7,216,580
7,288,087
Capital contributions - - - -
Selling commissions
and - - - -
registration costs
Net income (loss) (594,026) (6,000) - (600,026)
Partners capital
(deficit),
September 30, 2000 $ $ (95,971) $ 18,464 $ 6,616,554
6,694,061
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Six Months Ended September 30,
(Unaudited)
Accumulated
General or other
Partner comprehensiv
Assignees e Total
income
Series 22
Partners Capital
(deficit)
April 1, 2000 $ $ (83,881) $ 9,776 $ 13,529,780
13,603,885
Capital contributions - - - -
Selling commissions
and - - - -
registration costs
Net income (loss) (789,463) (7,974) - (797,437)
Partners capital
(deficit),
September 30, 2000 $ $ (91,855) $ 9,776 $ 12,732,343
12,814,422
Series 23
Partners Capital
(deficit)
April 1, 2000 $ $ (80,247) $ - $ 20,459,987
20,540,234
Capital contributions - - - -
Selling commissions
and - - - -
registration costs
Net income (loss) (713,673) (7,209) - (720,882)
Partners capital
(deficit),
September 30, 2000 $ $ (87,456) $ - $ 19,739,105
19,826,561
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Six Months Ended September 30,
(Unaudited)
Accumulated
General or other
Partner comprehensiv
Assignees e Total
income
Series 24
Partners Capital
(deficit)
April 1, 2000 $ $ (59,924) $ 8,292 $ 12,545,757
12,597,389
Capital contributions - - - -
Selling commissions
and - - - -
registration costs
Net income (loss) (849,423) (8,580) - (858,003)
Partners capital
(deficit),
September 30, 2000 $ $ (68,504) $ 8,292 $ 11,687,754
11,747,966
Series 25
Partners Capital
(deficit)
April 1, 2000 $ $ (66,267) $ 18,997 $ 19,136,698
19,183,968
Capital contributions - - - -
Selling commissions
and - - - -
registration costs
Net income (loss) (855,474) (8,641) - (864,115)
Partners capital
(deficit),
September 30, 2000 $ $ $ 18,997 $ 18,272,583
18,328,494 (74,908)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Six Months Ended September 30,
(Unaudited)
Accumulated
General or other
Partner comprehensiv
Assignees e Total
income
Series 26
Partners Capital
(deficit)
April 1, 2000 $ $ (47,570) $ 7,044 $ 29,275,329
29,315,855
Capital contributions - - - -
Selling commissions
and - - - -
registration costs
Net income (loss) (713,879) (7,211) - (721,090)
Partners capital
(deficit),
September 30, 2000 $ $ $ 7,044 $ 28,554,239
28,601,976 (54,781)
Series 27
Partners Capital
(deficit)
April 1, 2000 $ $ $ 17,825 $ 16,790,892
16,811,783 (38,716)
Capital contributions - - - -
Selling commissions
and - - - -
registration costs
Net income (loss) (594,725) (6,007) - (600,732)
Partners capital
(deficit),
September 30, 2000 $ $ $ 17,825 $ 16,190,160
16,217,058 (44,723)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Six Months Ended September 30,
(Unaudited)
Accumulated
General or other
Partner comprehensiv
Assignees e Total
income
Series 28
Partners Capital
(deficit)
April 1, 2000 $ $ (26,184) $ 63,510 $ 31,819,946
31,782,620
Capital contributions - - - -
Selling commissions
and - - - -
registration costs
Net income (loss) (784,999) (7,929) - (792,928)
Partners capital
(deficit),
September 30, 2000 $ $ (34,113) $ 63,510 $ 31,027,018
30,997,621
Series 29
Partners Capital
(deficit)
April 1, 2000 $ $ (41,869) $ 33,958 $ 29,711,724
29,719,635
Capital contributions - - - -
Selling commissions
and - - - -
registration costs
Net income (loss) (738,598) (7,461) - (746,059)
Partners capital
(deficit),
September 30, 2000 $ $ $ 33,958 $ 28,965,665
28,981,037 (49,330)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Six Months Ended September 30,
(Unaudited)
Accumulated
General or other
Partner comprehensiv
Assignees e Total
income
Series 30
Partners Capital
(deficit)
April 1, 2000 $ $ (12,469) $ 63,230 $ 21,521,986
21,471,225
Capital contributions - - - -
Selling commissions
and - - - -
registration costs
Net income (loss) (377,305) (3,811) - (381,116)
Partners capital
(deficit),
September 30, 2000 $ $ (16,280) $ 63,230 $ 21,140,870
21,093,920
Series 31
Partners Capital
(deficit)
April 1, 2000 $ $ (36,641) $ 70,407 $ 34,332,358
34,298,592
Capital contributions - - - -
Selling commissions
and - - - -
registration costs
Net income (loss) (897,004) (9,061) - (906,065)
Partners capital
(deficit),
September 30, 2000 $ $ (45,702) $ 70,407 $ 33,426,293
33,401,588
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Six Months Ended September 30,
(Unaudited)
Accumulated
General or other
Partner comprehensiv
Assignees e Total
income
Series 32
Partners Capital
(deficit)
April 1, 2000 $ $ (12,392) $ 80,336 $ 39,477,340
39,409,396
Capital contributions - - - -
Selling commissions
and - - - -
registration costs
Net income (loss) (503,898) (5,090) - (508,988)
Partners capital
(deficit),
September 30, 2000 $ $ (17,482) $ 80,336 $ 38,968,352
38,905,498
Series 33
Partners Capital
(deficit)
April 1, 2000 $ $ (5,110) $ 89,389 $ 22,156,533
22,072,254
Capital contributions - - - -
Selling commissions
and - - - -
registration costs
Net income (loss) (164,273) (1,659) - (165,932)
Partners capital
(deficit),
September 30, 2000 $ $ (6,769) $ 89,389 $ 21,990,601
21,907,981
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Six Months Ended September 30,
(Unaudited)
Accumulated
General or other
Partner comprehensiv
Assignees e Total
income
Series 34
Partners Capital
(deficit)
April 1, 2000 $ $ (6,593) $ 95,352 $ 29,476,969
29,388,210
Capital contributions - - - -
Selling commissions
and - - - -
registration costs
Net income (loss) (247,289) (2,498) - (249,787)
Partners capital
(deficit),
September 30, 2000 $ $ (9,091) $ 95,352 $ 29,227,182
29,140,921
Series 35
Partners Capital
(deficit)
April 1, 2000 $ $ (2,684) $ 76,772 $ 28,011,392
27,937,304
Capital contributions - - - -
Selling commissions
and (500) - - (500)
registration costs
Net income (loss) (337,158) (3,406) - (340,564)
Partners capital
(deficit),
September 30, 2000 $ $ (6,090) $ 76,772 $ 27,670,328
27,599,646
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Six Months Ended September 30,
(Unaudited)
Accumulated
General or other
Partner comprehensiv
Assignees e Total
income
Series 36
Partners Capital
(deficit)
April 1, 2000 $ $ $ 53,275 $ 17,619,971
17,569,744 (3,048)
Capital contributions - - - -
Selling commissions
and (5,171) - - (5,171)
registration costs
Net income (loss) (143,650) (1,451) - (145,101)
Partners capital
(deficit),
September 30, 2000 $ $ $ 53,275 $ 17,469,699
17,420,923 (4,499)
Series 37
Partners Capital
(deficit)
April 1, 2000 $ $ $ 123,888 $ 21,745,547
21,622,194 (535)
Capital contributions - - - -
Selling commissions
and (9,436) - - (9,436)
registration costs
Net income (loss) 69,542 702 - 70,244
Partners capital
(deficit),
September 30, 2000 $ $ $ 123,888 $ 21,806,355
21,682,300 167
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Six Months Ended September 30,
(Unaudited)
Accumulated
General or other
Partner comprehensiv
Assignees e Total
income
Series 38
Partners Capital
(deficit)
April 1, 2000 $ 3,505,653 $ (817) $ - $ 3,504,836
Capital contributions 20,968,000 - - 20,968,000
Selling commissions
and (2,742,732) - - (2,742,732)
registration costs
Net income (loss) 63,850 645 - 64,495
Partners capital
(deficit),
September 30, 2000 $ $ (172) $ - $ 21,794,599
21,794,771
Series 39
Partners Capital
(deficit)
April 1, 2000 $ $ - $ - $ -
-
Capital contributions 4,550,000 - - 4,550,000
Selling commissions
and (711,903) - - (711,903)
registration costs
Net income (loss) (13,724) (139) - (13,863)
Partners capital
(deficit),
September 30, 2000 $ $ (139) $ - $ 3,824,234
3,824,373
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
2000 1999
Cash Flows from operating
activities:
Net income (loss) $(10,376,677) $ (9,101,078)
Adjustments
Amortization 250,721 30,434
Distributions from Operating
Partnerships 83,094 52,874
Share of Loss from Operating
Partnerships 8,402,139 6,870,615
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - 623,193
(Decrease) Increase in
accounts 169,176 750,624
payable and accrued
expenses
Decrease (Increase) in
accounts (2,901,788) (7,589,520)
receivable
(Decrease) Increase in
accounts 1,518,852 879,682
payable affiliates
Line of credit 3,329,810 (200,000)
Net cash (used in) provided
by 475,327 (7,683,176)
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships (1,106,020) (5,216,940)
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships (35,820,617)
(33,189,043)
Advances to Operating 494,883 2,157,322
Partnerships
Investments 17,419,975 4,517,926
Net cash (used in) provided by
investing activities (19,011,779) (31,730,735)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs (3,469,742) (6,834,491)
paid
Capital contributions received 25,518,000 46,971,370
Net cash (used in)provided
by 22,048,258 40,136,879
financing activities
INCREASE (DECREASE) IN CASH
AND 3,511,806 722,968
CASH EQUIVALENTS
Cash and cash equivalents, 15,484,389 14,152,267
beginning
Cash and cash equivalents, ending $18,996,195 $14,875,235
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $15,421,430 $23,267,290
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 20
2000 1999
Cash Flows from operating
activities:
Net income (loss) $(1,098,728) $ (984,427)
Adjustments
Amortization 1,786 1,786
Distributions from Operating
Partnerships 15,172 16,339
Share of Loss from Operating
Partnerships 915,917 814,333
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - 10,607
(Decrease) Increase in
accounts - -
payab.e and accrued
expenses
Decrease (Increase) in
accounts (78,634) 97,282
receivable
(Decrease) Increase in
accounts 189,624 189,624
payable affiliates
Line of credit - -
Net cash (used in) provided
by (54,863) 145,544
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships - -
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships - -
Advances to Operating - -
Partnerships
Investments - -
Net cash (used in) provided by
investing activities - -
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 20
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs - -
paid
Capital contributions received - -
Net cash (used in)provided
by - -
financing activities
INCREASE (DECREASE) IN CASH
AND (54,863) 145,544
CASH EQUIVALENTS
Cash and cash equivalents, 312,723 223,286
beginning
Cash and cash equivalents, ending 257,860 368,830
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ - $ -
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 21
2000 1999
Cash Flows from operating
activities:
Net income (loss) $ (600,026) $ (661,159)
Adjustments
Amortization 977 977
Distributions from Operating
Partnerships 437 -
Share of Loss from Operating
Partnerships 486,745 568,000
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - -
(Decrease) Increase in
accounts - -
payable and accrued
expenses
Decrease (Increase) in
accounts (187) 562
receivable
(Decrease) Increase in
accounts 112,920 112,920
payable affiliates
Line of credit - -
Net cash (used in) provided
by 866 21,300
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships - -
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships - -
Advances to Operating - -
Partnerships
Investments 8,643 19,194
Net cash (used in) provided by
investing activities 8,643 19,194
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 21
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs - -
paid
Capital contributions received - -
Net cash (used in)provided
by - -
financing activities
INCREASE (DECREASE) IN CASH
AND 9,509 40,494
CASH EQUIVALENTS
Cash and cash equivalents, 272,223 204,141
beginning
Cash and cash equivalents, ending 281,732 244,635
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ - $ -
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 22
2000 1999
Cash Flows from operating
activities:
Net income (loss) $ (797,437) $ (610,456)
Adjustments
Amortization 3,070 3,070
Distributions from Operating
Partnerships 3,909 -
Share of Loss from Operating
Partnerships 666,060 446,727
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - 9,694
(Decrease) Increase in
accounts - -
payab.e and accrued
expenses
Decrease (Increase) in
prepaid - -
expenses
Decrease (Increase) in
accounts (99) 155
receivable
(Decrease) Increase in
accounts 127,298 127,296
payable affiliates
Line of credit - -
Net cash (used in) provided
by 2,801 (23,514)
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships - -
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships - (2,409)
Advances to Operating - 11,705
Partnerships
Investments 4,541 (26,984)
Net cash (used in) provided by
investing activities 4,541 (17,688)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 22
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs - -
paid
Capital contributions received - -
Net cash (used in)provided
by - -
financing activities
INCREASE (DECREASE) IN CASH
AND 7,342 (41,202)
CASH EQUIVALENTS
Cash and cash equivalents, 271,654 319,333
beginning
Cash and cash equivalents, ending $ 278,996 $ 278,131
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ - $ -
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 23
2000 1999
Cash Flows from operating
activities:
Net income (loss) $ (720,882) $ (683,004)
Adjustments
Amortization 3,123 3,124
Distributions from Operating
Partnerships - -
Share of Loss from Operating
Partnerships 587,697 532,506
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - 16,933
(Decrease) Increase in
accounts - -
payab.e and accrued
expenses
Decrease (Increase) in
prepaid - -
expenses
Decrease (Increase) in
accounts - 12,063
receivable
(Decrease) Increase in
accounts 120,133 120,132
payable affiliates
Line of credit - -
Net cash (used in) provided
by (9,929) 1,754
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships - -
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships - (274,928)
Advances to Operating - 150,000
Partnerships
Investments - -
Net cash (used in) provided by
investing activities - (124,928)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 23
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs - -
paid
Capital contributions received - -
Net cash (used in)provided
by - -
financing activities
INCREASE (DECREASE) IN CASH
AND (9,929) (123,174)
CASH EQUIVALENTS
Cash and cash equivalents, 339,179 610,758
beginning
Cash and cash equivalents, ending $ 329,250 $ 487,584
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ - $ -
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 24
2000 1999
Cash Flows from operating
activities:
Net income (loss) $ (858,003) $ (879,566)
Adjustments
Amortization 5,102 5,102
Distributions from Operating
Partnerships - 14,010
Share of Loss from Operating
Partnerships 703,210 744,096
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - 19,470
(Decrease) Increase in
accounts - -
payable and accrued
expenses
Decrease (Increase) in
accounts (19,664) (3,563)
receivable
(Decrease) Increase in
accounts 116,678 116,678
payable affiliates
Line of credit - -
Net cash (used in) provided
by (52,677) 16,227
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships - (23)
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships - (16,242)
Advances to Operating - 16,868
Partnerships
Investments 3,967 (66,028)
Net cash (used in) provided by
investing activities 3,967 (65,425)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 24
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs - -
paid
Capital contributions received - -
Net cash (used in)provided
by - -
financing activities
INCREASE (DECREASE) IN CASH
AND (48,710) (49,198)
CASH EQUIVALENTS
Cash and cash equivalents, 294,853 304,564
beginning
Cash and cash equivalents, ending $ 246,143 $ 255,366
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ - $ -
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 25
2000 1999
Cash Flows from operating
activities:
Net income (loss) $ (864,115) $ (1,023,938)
Adjustments
Amortization 7,609 7,609
Distributions from Operating
Partnerships 4,105 4,971
Share of Loss from Operating
Partnerships 715,369 865,403
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - 18,354
(Decrease) Increase in
accounts - -
payab.e and accrued
expenses
Decrease (Increase) in
accounts (192) (1,322)
receivable
(Decrease) Increase in
accounts 136,338 136,338
payable affiliates
Line of credit - -
Net cash (used in) provided
by (886) 7,415
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships - (23)
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships (51,996) (27,912)
Advances to Operating - 28,028
Partnerships
Investments 8,921 (53,034)
Net cash (used in) provided by
investing activities (43,075) (52,941)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 25
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs - -
paid
Capital contributions received - -
Net cash (used in)provided
by - -
financing activities
INCREASE (DECREASE) IN CASH
AND (43,961) (45,526)
CASH EQUIVALENTS
Cash and cash equivalents, 526,832 660,000
beginning
Cash and cash equivalents, ending $ 482,871 $ 614,474
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ - $ -
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 26
2000 1999
Cash Flows from operating
activities:
Net income (loss) $ (721,090) $ (674,834)
Adjustments
Amortization 8,681
Distributions from Operating
Partnerships 20,999 8,681
Share of Loss from Operating
Partnerships 530,058 9,918
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - 434,107
(Decrease) Increase in
accounts - 42,595
payab.e and accrued
expenses
Decrease (Increase) in
accounts 20,742 397,209
receivable
(Decrease) Increase in
accounts 218,786 205,896
payable affiliates
Line of credit - -
Net cash (used in) provided
by 78,176 423,572
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships - (2,439)
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships (181,121) (1,624,774)
Advances to Operating - 70,239
Partnerships
Investments 217,461 499,950
Net cash (used in) provided by
investing activities 36,340 (1,057,024)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 26
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs - (3,245)
paid
Capital contributions received - (64,630)
Net cash (used in)provided
by - (67,875)
financing activities
INCREASE (DECREASE) IN CASH
AND 114,516 (701,327)
CASH EQUIVALENTS
Cash and cash equivalents, 201,802 1,190,003
beginning
Cash and cash equivalents, ending $ 316,318 $ 488,676
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ - $ -
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 27
2000 1999
Cash Flows from operating
activities:
Net income (loss) $(600,732) $(660,142)
Adjustments
Amortization 7,827 -
Distributions from Operating
Partnerships 5,863 2,872
Share of Loss from Operating
Partnerships 450,079 457,666
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - 38,806
(Decrease) Increase in
accounts - -
payab.e and accrued
expenses
Decrease (Increase) in
accounts 540,152 10,469
receivable
(Decrease) Increase in
accounts 157,603 155,754
payable affiliates
Line of credit - -
Net cash (used in) provided
by 560,792 5,425
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships - (6,125)
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships (552,764) (476,557)
Advances to Operating - 171,100
Partnerships
Investments 193,831 (499,079)
Net cash (used in) provided by
investing activities (358,933) (810,661)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 27
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs - -
paid
Capital contributions received - -
Net cash (used in)provided
by - -
financing activities
INCREASE (DECREASE) IN CASH
AND 201,859 (805,236)
CASH EQUIVALENTS
Cash and cash equivalents, 250,061 1,328,141
beginning
Cash and cash equivalents, ending $ 451,920 $ 522,905
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ - $ 194,342
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 28
2000 1999
Cash Flows from operating
activities:
Net income (loss) $(792,928) $(634,085)
Adjustments
Amortization 1,650 -
Distributions from Operating
Partnerships 2,558 85
Share of Loss from Operating
Partnerships 670,249 473,070
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - 55,896
(Decrease) Increase in
accounts - -
payab.e and accrued
expenses
Decrease (Increase) in
accounts (345) 202,417
receivable
(Decrease) Increase in
accounts - (255,798)
payable affiliates
Fleet Line - -
Net cash (used in) provided
by (118,816) (158,415)
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships - (19,310)
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships - (532,469)
Advances to Operating - -
Partnerships
Investments 560,178 1,523,370
Net cash (used in) provided by
investing activities 560,178 971,591
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 28
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs - (1,977)
paid
Capital contributions received - -
Net cash (used in)provided
by - (1,977)
financing activities
INCREASE (DECREASE) IN CASH
AND 441,362 811,199
CASH EQUIVALENTS
Cash and cash equivalents, 1,096,622 569,820
beginning
Cash and cash equivalents, ending $ 1,537,984 $ 1,381,019
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ - $ -
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 29
2000 1999
Cash Flows from operating
activities:
Net income (loss) $ (746,059) $ (810,749)
Adjustments
Amortization 1,626 -
Distributions from Operating
Partnerships 1,050 -
Share of Loss from Operating
Partnerships 613,746 645,632
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - 49,448
(Decrease) Increase in
accounts - -
payab.e and accrued
expenses
Decrease (Increase) in
accounts 16,910 -
receivable
(Decrease) Increase in
accounts - 21,146
payable affiliates
Line of credit - -
Net cash (used in) provided
by (112,727) (94,523)
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships - (74,187)
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships (604,409)
(2,128,337)
Advances to Operating - -
Partnerships
Investments 1,091,789 1,597,445
Net cash (used in) provided by
investing activities 487,380 (605,079)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 29
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs - (2,256)
paid
Capital contributions received - -
Net cash (used in)provided
by - (2,256)
financing activities
INCREASE (DECREASE) IN CASH
AND 374,653 (701,858)
CASH EQUIVALENTS
Cash and cash equivalents, 387,679 1,066,404
beginning
Cash and cash equivalents, ending $ 762,332 $ 364,546
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments - -
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 30
2000 1999
Cash Flows from operating
activities:
Net income (loss) $(381,116) $(175,365)
Adjustments
Amortization 10,601 -
Distributions from Operating
Partnerships 11,512 4,320
Share of Loss from Operating
Partnerships 359,212 82,778
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - 48,501
(Decrease) Increase in
accounts - -
payab.e and accrued
expenses
Decrease (Increase) in
accounts (82,274) (281,818)
receivable
(Decrease) Increase in
accounts - -
payable affiliates
Line of credit - -
Net cash (used in) provided
by (82,065) (321,584)
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships (874) (69,073)
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships (335,806)
(3,927,800)
Advances to Operating - 1,329,758
Partnerships
Investments 880,131 2,690,013
Net cash (used in) provided by
investing activities 543,451 22,898
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 30
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs - (2,121)
paid
Capital contributions received - -
Net cash (used in)provided
by - (2,121)
financing activities
INCREASE (DECREASE) IN CASH
AND 461,386 (300,807)
CASH EQUIVALENTS
Cash and cash equivalents, 403,328 1,339,143
beginning
Cash and cash equivalents, ending $ 864,714 $ 1,038,336
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ - $ 1,347,407
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 31
2000 1999
Cash Flows from operating
activities:
Net income (loss) $ (906,065) $(1,173,263)
Adjustments
Amortization - -
Distributions from Operating
Partnerships 1,487 444
Share of Loss from Operating
Partnerships 793,104 984,633
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - 51,385
(Decrease) Increase in
accounts (1,315) -
payab.e and accrued
expenses
Decrease (Increase) in
accounts 62,319 (11,725)
receivable
(Decrease) Increase in
accounts -
payable affiliates
Line of credit - -
Net cash (used in) provided
by (50,470) (148,526)
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships (45,122) (25,136)
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships (3,537,500)
(1,675,133)
Advances to Operating 1,706,296 317,142
Partnerships
Investments 1,737,280 1,899,036
Net cash (used in) provided by
investing activities (139,046) 515,909
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 31
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs - (6,555)
paid
Capital contributions received - -
Net cash (used in)provided
by - (6,555)
financing activities
INCREASE (DECREASE) IN CASH
AND (189,516) 360,828
CASH EQUIVALENTS
Cash and cash equivalents, 1,449,979 1,294,456
beginning
Cash and cash equivalents, ending $ 1,260,463 $ 1,655,284
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ 22,855 $ -
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 32
2000 1999
Cash Flows from operating
activities:
Net income (loss) $ (508,988) $ (19,475)
Adjustments
Amortization 18,140 -
Distributions from Operating
Partnerships 16,002 -
Share of Loss from Operating
Partnerships 382,059 (65,164)
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - 50,418
(Decrease) Increase in
accounts - -
payab.e and accrued
expenses
Decrease (Increase) in
accounts 797,082 -
receivable
(Decrease) Increase in
accounts 165,748 (861,218)
payable affiliates
Line of credit - -
Net cash (used in) provided
by 870,043 (895,439)
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships (1,822) (265,781)
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships (951,543)
(5,811,092)
Advances to Operating - 1,121,948
Partnerships
Investments 1,261,712 5,675,927
Net cash (used in) provided by
investing activities 308,347 721,002
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 32
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs - (27,037)
paid
Capital contributions received - -
Net cash (used in)provided
by - (27,037)
financing activities
INCREASE (DECREASE) IN CASH
AND 1,178,390 (201,474)
CASH EQUIVALENTS
Cash and cash equivalents, 240,584 1,625,906
beginning
Cash and cash equivalents, ending $ 1,418,974 $ 1,424,432
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ - $ 3,861,829
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 33
2000 1999
Cash Flows from operating
activities:
Net income (loss) $ (165,932) $ 69,227
Adjustments
Amortization 13,472 -
Distributions from Operating
Partnerships - -
Share of Loss from Operating
Partnerships 143,852 (133,510)
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - 83,770
(Decrease) Increase in
accounts - -
payab.e and accrued
expenses
Decrease (Increase) in
accounts (127,883) 774,034
receivable
(Decrease) Increase in
accounts 84,666 -
payable affiliates
Line of credit - -
Net cash (used in) provided
by (51,825) 793,521
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships (14,195) (54,360)
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships (305,129)
(2,784,430)
Advances to Operating (113,575) -
Partnerships
Investments 1,265,009 2,748,770
Net cash (used in) provided by
investing activities 832,110 (90,020)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 33
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs - (6,154)
paid
Capital contributions received - -
Net cash (used in)provided
by - (6,154)
financing activities
INCREASE (DECREASE) IN CASH
AND 780,285 697,347
CASH EQUIVALENTS
Cash and cash equivalents, 597,735 685,857
beginning
Cash and cash equivalents, ending $ 1,378,020 $ 1,383,204
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ - $ 360,920
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 34
2000 1999
Cash Flows from operating
activities:
Net income (loss) $ (249,787) $ (119,185)
Adjustments
Amortization 21,426 -
Distributions from Operating
Partnerships - -
Share of Loss from Operating
Partnerships 124,985 20,338
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - 110,441
(Decrease) Increase in
accounts - -
payab.e and accrued
expenses
Decrease (Increase) in
accounts 33,733 1,335,765
receivable
(Decrease) Increase in
accounts - -
payable affiliates
Line of credit - -
Net cash (used in) provided
by (69,643) 1,347,359
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships (28,988) (176,123)
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships (2,666,907)
(5,612,601)
Advances to Operating 751,050 (1,436,326)
Partnerships
Investments 2,540,178 4,356,365
Net cash (used in) provided by
investing activities 595,333 (2,868,685)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 34
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs - (53,843)
paid
Capital contributions received - -
Net cash (used in)provided
by - (53,843)
financing activities
INCREASE (DECREASE) IN CASH
AND 525,690 (1,575,169)
CASH EQUIVALENTS
Cash and cash equivalents, 672,010 2,482,579
beginning
Cash and cash equivalents, ending $ 1,197,700 $ 907,410
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ - $ 3,566,959
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 35
2000 1999
Cash Flows from operating
activities:
Net income (loss) $(340,564) $(59,667)
Adjustments
Amortization 60,729 -
Distributions from Operating
Partnerships - -
Share of Loss from Operating
Partnerships 234,218 -
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - 16,875
(Decrease) Increase in
accounts (1,719) (399,585)
payab.e and accrued
expenses
Decrease (Increase) in
accounts 321,400 (1,776,207)
receivable
(Decrease) Increase in
accounts 26,808 (267,393)
payable affiliates
Fleet Line - (200,000)
Net cash (used in) provided
by 300,872 (2,685,977)
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships (31,695) (2,563,423)
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships (2,952,057)
(5,412,300)
Advances to Operating (274,342) 376,860
Partnerships
Investments 2,740,173 (10,836,297)
Net cash (used in) provided by
investing activities (517,921) (18,435,160)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 35
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs (500) (3,667,365)
paid
Capital contributions received - 25,962,625
Net cash (used in)provided
by (500) 22,295,260
financing activities
INCREASE (DECREASE) IN CASH
AND (217,549) 1,174,123
CASH EQUIVALENTS
Cash and cash equivalents, 701,756 247,876
beginning
Cash and cash equivalents, ending $ 484,207 $ 1,421,999
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ - $ 9,185,845
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 36
2000 1999
Cash Flows from operating
activities:
Net income (loss) $ (145,101) $ (990)
Adjustments
Amortization 42,307 -
Distributions from Operating
Partnerships - -
Share of Loss from Operating
Partnerships 25,579 -
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - -
(Decrease) Increase in
accounts - 1,150,209
payab.e and accrued
expenses
Decrease (Increase) in
accounts 241,855 (7,504,769)
receivable
(Decrease) Increase in
accounts 24,940 238,235
payable affiliates
Fleet Line - -
Net cash (used in) provided
by 189,580 (6,117,315)
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships (66,579) (1,960,937)
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships (2,906,804)
(2,882,059)
Advances to Operating 829,067 -
Partnerships
Investments 2,105,011 (5,010,722)
Net cash (used in) provided by
investing activities (39,305) (9,853,718)
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 36
2000 1999
Continued
Cash flows from financing
activities:
Sales and registration costs (5,171) (3,063,938)
paid
Capital contributions received - 21,073,375
Net cash (used in)provided
by (5,171) 18,009,437
financing activities
INCREASE (DECREASE) IN CASH
AND 145,104 2,038,404
CASH EQUIVALENTS
Cash and cash equivalents, 328,095 -
beginning
Cash and cash equivalents, ending $ 473,199 $ 2,038,404
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ - $ 4,749,988
for unpaid capital contributions
due to the Operating
Partnerships
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 37* Series 38*
2000 2000
Cash Flows from operating
activities:
Net income (loss) $ 70,244 $ 64,495
Adjustments
Amortization 42,595 -
Distributions from Operating
Partnerships - -
Share of Loss from Operating
Partnerships - -
Changes in assets and
liabilities
Decrease (Increase) in
organization costs - -
(Decrease) Increase in
accounts - (416,169)
payab.e and accrued
expenses
Decrease (Increase) in
accounts 296,768 (2,198,038)
receivable
(Decrease) Increase in
accounts (9,420) 9,384
payable affiliates
Line of credit - (976,349)
Net cash (used in) provided
by 400,187 (3,516,677)
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships (38,464) (382,326)
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships (4,356,611) -
Advances to Operating (2,403,613) (10,983,672)
Partnerships
Investments 3,501,711 (700,561)
Net cash (used in) provided by
investing activities (3,296,977) (12,066,559)
*Series 37 and 38 did not commence operations until after
September 30, 1999,
therefore they do not have comparative information to report.
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 37* Series 38*
2000 2000
Continued
Cash flows from financing
activities:
Sales and registration costs (9,436) (2,742,732)
paid
Capital contributions received - 20,968,000
Net cash (used in)provided
by (9,436) 18,225,268
financing activities
INCREASE (DECREASE) IN CASH
AND (2,906,226) 2,642,032
CASH EQUIVALENTS
Cash and cash equivalents, 5,952,947 1,184,327
beginning
Cash and cash equivalents, ending $ 3,046,721 $ 3,826,359
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ 2,132,571 $ 6,765,120
for unpaid capital contributions
due to the Operating
Partnerships
*Series 37 and 38 did not commence operations until after
September 30, 1999,
therefore they do not have comparative information to report.
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 39*
2000
Cash Flows from operating
activities:
Net income (loss) $(13,863)
Adjustments
Amortization -
Distributions from Operating
Partnerships -
Share of Loss from Operating
Partnerships -
Changes in assets and
liabilities
Decrease (Increase) in
organization costs -
(Decrease) Increase in
accounts 588,379
payable and accrued
expenses
Decrease (Increase) in
accounts (2,725,778)
receivable
(Decrease) Increase in
accounts 37,691
payable affiliates
Line of credit 4,306,159
Net cash (used in) provided
by 2,192,588
Operating activities
Cash Flows from investing
activity:
Acquisition costs repaid (paid)
for
Operating Partnerships (495,955)
acquired
or to be acquired
Capital contributions paid to
Operating Partnerships (5,434,298)
Advances to Operating -
Partnerships
Investments -
Net cash (used in) provided by
investing activities (5,930,253)
*Series 39 did not commence operations until after September 30,
1999,
therefore it does not have comparative information to report.
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)
Series 39*
2000
Continued
Cash flows from financing
activities:
Sales and registration costs (711,903)
paid
Capital contributions received 4,550,000
Net cash (used in)provided
by 3,838,097
financing activities
INCREASE (DECREASE) IN CASH
AND 100,432
CASH EQUIVALENTS
Cash and cash equivalents, -
beginning
Cash and cash equivalents, ending $ 100,432
Supplemental schedule of non-cash
investing and financing
activities
the fund has increased its
investments $ 6,500,884
for unpaid capital contributions
due to the Operating
Partnerships
*Series 39 did not commence operations until after September 30,
1999,
therefore it does not have comparative information to report.
The accompanying notes are an integral part of this statement
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(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"). The general
partner of
the Fund is Boston Capital Associates IV L.P., a Delaware limited
Partnership. Boston Capital Associates, a Massachusetts general
partnership, whose only two partners are Herbert F. Collins and
John P.
Manning, the principals of Boston Capital Partners, Inc., is the
sole
general partner of the general partner. The limited partner of
the
general partner is Capital Investment Holdings, a general
partnership
whose partners are certain 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 wholly-
owned by
Herbert F. Collins and 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. One 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.
Below is a summary of the BACs sold and total equity raised by
series as of
September 30, 2000:
Series Closing Date BACs Sold Equity Raised
Series 20 June 24, 1994 3,866,700 $38,667,000
Series 21 September 30, 1,892,700 $18,927,000
1994
Series 22 December 28, 2,564,400 $25,644,000
1994
Series 23 June 23, 1995 3,336,727 $33,366,000
Series 24 September 22, 2,169,878 $21,697,000
1995
Series 25 December 29, 3,026,109 $30,248,000
1995
Series 26 June 25, 1996 3,995,900 $39,959,000
Series 27 September 17, 2,460,700 $24,607,000
1996
Series 28 January 29, 4,000,738 $39,999,000
1997
Series 29 June 10, 1997 3,991,800 $39,918,000
Series 30 September 10, 2,651,000 $26,490,750
1997
Series 21 January 18, 4,417,857 $44,057,750
1998
Series 32 June 23, 1998 4,754,198 $47,431,000
Series 33 September 21, 2,636,533 $26,362,000
1998
Series 34 February 11, 3,529,319 $35,273,000
1999
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2000
(Unaudited)
NOTE A - ORGANIZATION (continued)
Series Closing Date BACs Sold Equity Raised
Series 35 June 28, 1999 3,300,463 $33,004,630
Series 36 September 28, 2,106,837 $21,068,375
1999
Series 37 January 28, 2,512,500 $25,125,000
2000
Series 38 July 31, 2000 2,543,100 $25,431,000
Series 39 Selling 455,000 $ 4,550,000
The Fund is continuing to offer BACs in Series 39 as of the date
of this filing.
NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES
The condensed financial statements herein as of September 30,
2000 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 principals have been condensed or omitted pursuant to
such
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.
Investment Securities
The Fund has determined that all of its investment securities are
to be
categorized as securities available for sale. Securities
classified as
available for sale are those debt securities that the Fund
purchased that may
be liquidated prior to the maturity date should the need arise.
These
securities are carried at approximate fair market value. All of
the
investments held by the Fund are tax-exempt municipal bonds and
Certificates
of Deposit.
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2000
(Unaudited)
NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES (continued)
The amortized cost of securities available for sale as of
September 30, 2000
by contractual maturity are as follows:
Amortized
Cost
Due in one year or $ 9,725,909
less
Due after one year 5,270,484
Total $14,996,393
The fair market value of the securities is $15,826,908. The
difference
being an unrealized gain on securities available for sale of
$830,515, as
of September 30, 2000.
Amortization
The Fund began amortizing unallocated and deferred acquisition
costs over 330
months as of June 1999. Each Series begins amortizing costs once
they have
completed investing in operating partnerships. Accumulated
amortization of
acquisition costs by Series as of September 30, 2000 and 1999 is
as follows:
2000 1999
Series 20 $ 5,358 $ 1,786
Series 21 2,931 977
Series 22 9,210 3,070
Series 23 9,369 3,124
Series 24 15,307 5,102
Series 25 15,372 7,609
Series 26 26,043 8,681
Series 27 22,420 -
Series 28 4,951 -
Series 29 4,830 -
Series 30 31,740 -
Series 32 44,713 -
Series 33 40,051 -
Series 34 63,279 -
Series 35 180,626 -
Series 36 120,129 -
Series 37 42,596 -
$ 638,925 $ 30,349
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2000
(Unaudited)
NOTE C - RELATED PARTY TRANSACTIONS
The Fund has entered into several transactions with various
affiliates
of the general partner, including Boston Capital Holdings Limited
Partnership,
Boston Capital Services, Inc., and Boston Capital Asset
Management L.P. as
follows:
For the quarter ended September 30, 2000, Boston Capital
Services, Inc.
received $135,910 and $85,130, respectively, for Series 38 and
Series 39 as
Dealer-Manager fees for marketing advice and investment banking
services
performed at the time of the Fund's offering of BACs. 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 and Series 37 completed payment of all Dealer-Manager
fees prior to
the quarter ended September 30, 2000.
Boston Capital Holdings L.P. is entitled to asset acquisition
fees for
selecting, evaluating, structuring, negotiating, and closing the
Fund's
acquisition of interest in the Operating Partnerships. During
the quarter
ended September 30, 2000, Series 38 and Series 39 paid $604,435
and $386,750, respectively, for acquisition fees to Boston
Capital Holdings Limited
Partnership. 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 and Series 37
completed payment
of all acquisition fees prior to the quarter ended September 30,
2000.
An annual fund management fee based on .5 percent of the
aggregate cost
of all apartment complexes owned by the Operating Partnerships
has been
accrued or paid to Boston Capital Asset Management L.P.
The fund management fees accrued for the quarters ended September
30, 2000 and
1999 are as follows:
2000 1999
Series 20 $94,811 $94,812
Series 21 56,460 56,460
Series 22 63,648 63,648
Series 23 60,066 60,066
Series 24 58,338 58,338
Series 25 68,170 68,169
Series 26 109,395 106,335
Series 27 78,801 78,639
Series 32 82,875 -
Series 33 42,333 -
Series 35 54,660 -
Series 36 13,852 -
Series 38 13,124 -
$796,533 $586,467
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2000
(Unaudited)
NOTE C - RELATED PARTY TRANSACTIONS (continued)
The fund management fees paid for the quarters ended September
30, 2000 and 1999 are as follows:
2000 1999
Series 28 $ 83,502 $ 83,502
Series 29 84,495 84,894
Series 30 55,179 56,027
Series 31 98,676 92,873
Series 32 - 85,067
Series 33 - 28,532
Series 34 73,155 67,655
Series 35 41,253 41,253
Series 36 26,337 -
Series 37 31,407 -
Series 38 10,596 -
$ 504,600 $ 539,803
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS
At September 30, 2000 and 1999 the Fund has limited partnership
interests in
368 and 342 Operating Partnerships, respectively, which own or
are
constructing apartment complexes.
The breakdown of Operating Partnerships within the Fund at
September 30, 2000 and 1999 is as follows:
2000 1999
Series 20 24 24
Series 21 14 14
Series 22 29 29
Series 23 22 22
Series 24 24 24
Series 25 22 22
Series 26 45 45
Series 27 16 15
Series 28 26 26
Series 29 22 22
Series 30 20 20
Series 31 27 26
Series 32 16 16
Series 33 10 9
Series 34 14 13
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
2000 1999
Series 35 10 10
Series 36 11 5
Series 37 5 -
Series 38 8 -
Series 39 3 -
368 342
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, 2000 and
1999 are as
follows:
2000 1999
Series 20 $ 388,026 $ 388,026
Series 21 683,688 709,193
Series 22 538,769 548,232
Series 23 458,632 487,851
Series 24 1,214,204 1,269,494
Series 25 2,384,755 2,673,557
Series 26 2,527,938 3,941,356
Series 27 514,918 1,685,263
Series 28 2,463,113 3,844,828
Series 29 1,410,987 3,744,337
Series 30 2,249,961 4,119,032
Series 31 1,633,203 6,316,211
Series 32 3,495,858 7,959,703
Series 33 2,932,896 3,856,254
Series 34 3,293,777 11,247,855
Series 35 2,595,358 15,452,879
Series 36 2,600,709 4,749,988
Series 37 5,941,684 -
Series 38 7,368,505 -
Series 39 6,500,884 -
$51,197,865 $72,994,059
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2000
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)
The Fund's fiscal year ends March 31st for each year, while all
the Operating
Partnerships' fiscal years are the calendar year. Pursuant to
the provisions
of each Operating Partnership Agreement, financial results for
each of the
Operating Partnerships are provided to the Fund within 45 days
after the close
of each Operating Partnership's quarterly period. Accordingly,
the current
financial results available for the Operating Partnerships are
for the six
months ended June 30, 2000.
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)
Series 20
2000 1999
Revenues
Rental $ 4,328,267 $ 4,223,358
Interest and other 238,506 233,146
4,566,773 4,456,504
Expenses
Interest 1,509,732 1,593,679
Depreciation and 1,477,846 1,518,784
amortization
Operating expenses 2,519,126 2,178,293
5,506,704 5,290,756
NET LOSS $ (939,931) $ (834,252)
Net loss allocation to
Boston
Capital Tax Credit Fund $ (915,917) $ (814,333)
IV L.P.
Net loss allocated to other
partners $ (9,399) $ (8,343)
Net loss suspended $ (14,615) $ (11,576)
The Partnership accounts for its investments using the equity
method of
accounting. Under the equity method of accounting, the
Partnership adjusts
its investment cost for its share of each Operating Partnerships
results of
operations and for any distributions received or accrued.
However, the
Partnership 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 FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)
Series 21
2000 1999
Revenues
Rental $ 2,490,223 $ 2,423,552
Interest and other 60,444 102,705
2,550,667 2,526,257
Expenses
Interest 938,616 955,836
Depreciation and 592,248 620,912
amortization
Operating expenses 1,511,465 1,523,247
3,042,329 3,099,995
NET LOSS $ (491,662) $ (573,738)
Net loss allocation to
Boston
Capital Tax Credit Fund $ (486,745) $ (568,000)
IV L.P.
Net loss allocated to other
Partners $ (4,917) $ (5,738)
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)
Series 22
2000 1999
Revenues
Rental $ 2,384,013 $ 2,346,073
Interest and other 121,065 129,614
2,505,078 2,475,687
Expenses
Interest 670,911 668,792
Depreciation and 916,440 911,712
amortization
Operating expenses 1,590,514 1,346,424
3,177,865 2,926,928
NET LOSS $ (672,787) $ (451,241)
Net loss allocation to
Boston
Capital Tax Credit Fund $ (666,060) $ (446,727)
IV L.P.
Net loss allocated to other
Partners $ (6,727) $ (4,514)
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)
Series 23
2000 1999
Revenues
Rental $ 2,722,948 $ 2,683,177
Interest and other 126,555 153,823
2,849,503 2,837,000
Expenses
Interest 880,494 886,028
Depreciation and 929,560 930,909
amortization
Operating expenses 1,633,082 1,557,947
3,443,136 3,374,884
NET LOSS $ (593,633) $ (537,884)
Net loss allocation to
Boston
Capital Tax Credit Fund $ (587,697) $ (532,506)
IV L.P.
Net loss allocated to other
Partners $ (5,936) $ (5,378)
Boston Capital Tax Credit Fund III L.P.
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)
Series 24
2000 1999
Revenues
Rental $ 2,597,125 $ 2,559,273
Interest and other 63,010 69,977
2,660,135 2,629,250
Expenses
Interest 904,759 929,701
Depreciation and 941,994 983,778
amortization
Operating expenses 1,523,695 1,467,383
3,370,448 3,380,862
NET LOSS $ (710,313) $ (751,612)
Net loss allocation to
Boston
Capital Tax Credit Fund $ (703,210) $ (744,096)
IV L.P.
Net loss allocated to other
Partners $ (7,103) $ (7,516)
Boston Capital Tax Credit Fund III L.P.
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)
Series 25
2000 1999
Revenues
Rental $ 3,631,993 $ 3,513,880
Interest and other 99,903 57,758
3,731,896 3,571,638
Expenses
Interest 1,124,804 1,128,425
Depreciation and 1,046,345 1,038,308
amortization
Operating expenses 2,359,114 2,279,049
4,530,263 4,445,782
NET LOSS $ (798,367) $ (874,144)
Net loss allocation to
Boston
Capital Tax Credit Fund $ (715,369) $ (865,403)
IV L.P.
Net loss allocated to other
Partners $ (7,984) $ (8,741)
Net loss suspended $ (75,014) $ -
The Partnership accounts for its investments using the equity
method of
accounting. Under the equity method of accounting, the
Partnership adjusts
its investment cost for its share of each Operating Partnerships
results of
operations and for any distributions received or accrued.
However, the
Partnership 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 III L.P.
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)
Series 26
2000 1999
Revenues
Rental $ 4,331,411 $ 4,020,274
Interest and other 175,450 107,258
4,506,861 4,127,532
Expenses
Interest 1,050,955 1,037,440
Depreciation and 1,430,418 1,374,028
amortization
Operating expenses 2,560,901 2,154,556
5,042,274 4,566,024
NET LOSS $ (535,413) $ (438,492)
Net loss allocation to
Boston
Capital Tax Credit Fund $ (530,058) $ (434,107)
IV L.P.
Net loss allocated to other
Partners $ (5,355) $ (4,385)
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)
Series 27
2000 1999
Revenues
Rental $ 4,067,240 $ 3,059,241
Interest and other 127,990 83,002
4,195,230 3,142,243
Expenses
Interest 1,574,413 1,304,375
Depreciation and 1,177,082 867,724
amortization
Operating expenses 1,898,359 1,432,433
4,649,854 3,604,532
NET LOSS $ (454,624) $ (462,289)
Net loss allocation to
Boston
Capital Tax Credit Fund $ (450,079) $ (457,666)
IV L.P.
Net loss allocated to other
Partners $ (4,545) $ (4,623)
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)
Series 28
2000 1999
Revenues
Rental $ 2,790,619 $ 1,920,688
Interest and other 80,868 51,056
2,871,487 1,971,744
Expenses
Interest 819,054 593,414
Depreciation and 1,100,088 684,296
amortization
Operating expenses 1,629,364 1,171,882
3,548,506 2,449,592
NET LOSS $ (677,019) $ (477,848)
Net loss allocation to
Boston
Capital Tax Credit Fund $ (670,249) $ (473,070)
IV L.P.
Net loss allocated to other
Partners $ (6,770) $ (4,778)
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)
Series 29
2000 1999
Revenues
Rental $ 3,247,636 $ 2,013,532
Interest and other 163,583 78,679
3,411,219 2,092,211
Expenses
Interest 1,021,279 714,512
Depreciation and 1,115,038 808,306
amortization
Operating expenses 1,894,848 1,221,547
4,031,165 2,744,365
NET LOSS $ (619,946) $ (652,154)
Net loss allocation to
Boston
Capital Tax Credit Fund $ (613,746) $ (645,632)
IV L.P.
Net loss allocated to other
Partners $ (6,200) $ (6,522)
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)
Series 30
2000 1999
Revenues
Rental $ 1,952,042 $ 993,593
Interest and other 58,224 73,440
2,010,266 1,067,033
Expenses
Interest 588,033 208,087
Depreciation and 592,021 251,909
amortization
Operating expenses 1,193,052 690,651
2,373,106 1,150,647
NET LOSS $ (362,840) $ (83,614)
Net loss allocation to
Boston
Capital Tax Credit Fund $ (359,212) $ (82,778)
IV L.P.
Net loss allocated to other
Partners $ (3,628) $ (836)
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)
Series 31
2000 1999
Revenues
Rental $ 4,372,741 $ 2,514,282
Interest and other 157,988 109,949
4,530,729 2,624,231
Expenses
Interest 1,355,819 1,077,735
Depreciation and 1,449,992 802,372
amortization
Operating expenses 2,526,033 1,738,703
5,331,844 3,618,810
NET LOSS $ (801,115) $ (994,579)
Net loss allocation to
Boston
Capital Tax Credit Fund $ (793,104) $ (984,633)
IV L.P.
Net loss allocated to other
Partners $ (8,011) $ (9,946)
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)
Series 32
2000 1999
Revenues
Rental $ 1,984,635 $ 884,712
Interest and other 111,430 46,811
2,096,065 931,523
Expenses
Interest 690,779 227,296
Depreciation and 642,485 249,851
amortization
Operating expenses 1,148,719 388,554
2,481,983 865,701
NET LOSS $ (385,918) $ 65,822
Net loss allocation to
Boston
Capital Tax Credit Fund $ (382,059) $ 65,164
IV L.P.
Net loss allocated to other
Partners $ (3,859) $ 658
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)
Series 33
2000 1999
Revenues
Rental $ 1,013,424 $ 988,661
Interest and other 28,976 103,174
1,042,400 1,091,835
Expenses
Interest 400,084 344,169
Depreciation and 229,125 285,497
amortization
Operating expenses 558,496 327,310
1,187,705 956,976
NET LOSS $ (145,305) $ 134,859
Net loss allocation to
Boston
Capital Tax Credit Fund $ (143,852) $ 133,510
IV L.P.
Net loss allocated to other
Partners $ (1,453) $ 1,349
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)
Series 34
2000 1999
Revenues
Rental $ 1,921,102 $ 67,418
Interest and other 75,095 1,325
1,996,197 68,743
Expenses
Interest 663,197 22,334
Depreciation and 438,615 26,752
amortization
Operating expenses 1,020,633 40,200
2,122,445 89,286
NET LOSS $ (126,248) $ (20,543)
Net loss allocation to
Boston
Capital Tax Credit Fund $ (124,985) $ (20,338)
IV L.P.
Net loss allocated to other
Partners $ (1,263) $ (205)
Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)
Series 35* Series 36*
2000 1999
Revenues
Rental $ 315,403 $ 1,027,722
Interest and other 97,315 55,647
412,718 1,083,369
Expenses
Interest 192,508 402,480
Depreciation and 132,586 160,183
amortization
Operating expenses 324,208 546,544
649,302 1,109,207
NET LOSS $ (236,584) $ (25,838)
Net loss allocation to
Boston
Capital Tax Credit Fund $ (234,218) $ (25,579)
IV L.P.
Net loss allocated to other
Partners $ (2,366) $ (259)
*The Operating Partnerships in Series 35 and 36 did not commence
operations until after June 30, 1999, therefore, they do not have
comparative information to report.
**The Operating Partnerships in Series 37, 38 and 39 did not
commence operations until after June 30, 2000, therefore, they do
not have current or comparative information to report.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2000
(Unaudited)
NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS-CONTINUED
When comparing the results of operations from the Operating
Partnerships for
the six months ended June 30, 2000 and 1999 numerous variances,
some
material in nature, exist. The variances are the result of a
number of
factors including an increase in the number of Operating
Partnerships owned,
an increase in the number which have completed construction, and
an increase
in the number which have completed the lease-up phase.
NOTE E - TAXABLE LOSS
The Fund's taxable loss for the fiscal year ended March 31, 2001
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. No provision or benefit for
income taxes has
been included in these financial statements since taxable income
or loss
passes through to, and is reportable by, the partners and
assignees
individually.
Item 2. Management's Discussions and Analysis of Financial
Condition and
Results of Operations
Liquidity
The Fund's primary source of funds is the proceeds of its Public
Offering.
Other sources of liquidity will include (i) interest earned on
capital
contributions held pending investment and on working capital (ii)
cash distributions from operations of the Operating Partnerships
in which the
Fund has and will invest and (iii) a line of credit. The Fund
does not
nticipate significant cash distributions from operations of the
Operating
Partnerships.
The Fund has entered into a line of credit financing agreement
with Fleet
National Bank whereby the Fund can borrow up to $5 million for up
to 90 days
to meet short-term cash needs required for the investment in
certain Operating
Partnerships. Under the terms of the agreement, the Fund pledges
their
interest in a particular Operating Partnership in order to draw
funds from the
line. The repayment of any draws is anticipated to be made once
the Fund has
received sufficient Investor proceeds. Repayments on the line
are tied to
specific Operating Partnerships, which are then released as
collateral by the
bank. As of September 30, 2000 $4,306,159 had been drawn from
the line of credit. It is anticipated that the full amount will
be repaid by November 30, 2000.
The Fund is currently accruing the fund management fee for Series
20, Series
21, Series 22, Series 23, Series 24, Series 25, Series 26, Series
27, Series
32, and Series 33. The fund is also accruing a portion of the
fund
management fee for Series 35, Series 36, Series 37 and Series 38.
Pursuant to
the Partnership Agreement, such liabilities will be deferred
until the Fund
receives sales or refinancing proceeds from Operating
partnerships which will
be used to satisfy such 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 if any trends which would create
insufficient liquidity
to meet future third party obligations.
Capital Resources
The Fund offered BACs in a 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, and $4,550,000, 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, and 455,000. 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
and Series
39, respectively.
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
$28,614,472.
During the quarter ended September 30, 2000, Series 20 did not
record any
releases of capital contributions. Series 20 has outstanding
contributions
payable in the amount of $388,026 as of September 30, 2000. Of
the amount
outstanding, $222,120 has been advanced to the Operating
Partnerships. The
advance will be converted to capital and the remaining
contributions of
$165,906 will be released from available net offering proceeds
when the
Operating Partnerships have achieved the conditions set forth in
their
partnership agreements.
Series 21
The Fund commenced offering BACs in Series 21 on July 1, 1994.
Offers and
sales of BACs in Series 21 were completed on December 31, 1994.
The Fund has
committed proceeds to pay initial and additional installments of
capital
contributions to 14 Operating Partnerships in the amount of
$13,872,730.
During the quarter ended September 30, 2000, Series 21 did not
record any
releases of capital contributions. Series 21 has outstanding
contributions
payable in the amount of $683,688 as of September 30, 2000. Of
the amount
outstanding, $641,540 has been loaned to the Operating
Partnerships. The
loans will be converted to capital and the remaining
contributions of $42,148
will be released from available net offering proceeds when the
Operating
Partnerships have achieved the conditions set forth in their
partnership
agreements.
Series 22
The Fund commenced offering BACs in Series 22 on October 10,
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.
During the quarter ended September 30, 2000, Series 22 did not
record any
releases of capital contributions. Series 22 has outstanding
contributions
payable in the amount of $538,769 as of September 30, 2000. Of
the amount
outstanding, $450,981 has been loaned to the Operating
Partnerships. The
loans will be converted to capital and the remaining
contributions of $87,788
will be released from available net offering proceeds when the
Operating
Partnerships have achieved the conditions set forth in their
partnership
agreements.
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 September 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.
During the quarter ended September 30, 2000, Series 23 did not
record any
releases of capital contributions. Series 23 has outstanding
contributions
payable of $458,632 as of September 30, 2000, all of which has
previously been
advanced or loaned to the Operating Partnerships. The advances
and loans will
be converted to capital when the Operating Partnerships have
achieved the
conditions set forth in their partnership agreements.
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
$15,980,237.
During the quarter ended September 30, 2000, Series 24 did not
record any
releases of capital contributions. Series 24 has outstanding
contributions
payable in the amount of $1,214,204 as of September 30, 2000.
Of the amount outstanding, $1,079,474 has been advanced or loaned
to the Operating
Partnerships. The advances and loans will be converted to
capital and the
remaining contributions of $134,730 will be released from
available net
offering proceeds when the Operating Partnerships have achieved
the conditions
set forth in their partnership agreements.
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
$22,449,722.
During the quarter ended September 30, 2000, Series 25 recorded
capital
contribution releases of $49,041. Series 25 has outstanding
contributions
payable in the amount of $2,384,755 as of September 30, 2000.
Of the amount
outstanding, $1,671,965 has been advanced or loaned to some of
the Operating
Partnerships. In addition, $20,000 has been funded into and
escrow account on
behalf of one of the Operating Partnerships. The advances and
loans will be
converted to capital and the remaining contributions of $712,790,
will be
released from the escrow account and available net offering
proceeds, when the
Operating Partnerships have achieved the conditions set forth in
their
partnership agreements.
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 25, 1996. The
Fund has
committed proceeds to pay initial and additional installments of
capital
contributions to 45 Operating Partnerships in the amount of
$29,390,862.
During the quarter ended September 30, 2000, Series 26 recorded
capital
contribution releases of $160,328. Series 26 has outstanding
contributions
payable in the amount of $2,527,938 as of September 30, 2000. Of
the amount
outstanding, $2,053,953 has been advanced or loaned to some of
the Operating
Partnerships. In addition, $338,855 has been funded into escrow
accounts on
behalf of other Operating Partnerships. The advances and loans
will be
converted to capital and the remaining contributions of $473,985,
will be
released from the escrow accounts and available net offering
proceeds, when
the Operating Partnerships have achieved the conditions set forth
in their
Partnership agreements.
Series 27
The Fund commenced offering BACs in Series 27 on June 24, 1996.
Offers and
sales of BACs in Series 27 were completed on September 17, 1996.
The Fund has
committed proceeds to pay initial and additional installments of
capital
contributions to 16 Operating Partnerships in the amount of
$17,901,046.
During the quarter ended September 30, 2000, Series 27 recorded
capital
contribution releases of $540,229. Series 27 has outstanding
contributions
payable in the amount of $514,918 as of September 30, 2000. Of
the amount
outstanding, $6,500 has been advanced to the Operating
Partnerships. The
advances will be converted to capital and the remaining
contributions of
$508,418 will be released from available net offering proceeds
when the
Operating Partnerships have achieved the conditions set forth in
their
partnership agreements.
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
$29,261,233.
During the quarter ended September 30, 2000, Series 28 did not
record any
releases of capital contributions. Series 28 has outstanding
contributions
payable in the amount of $2,463,113 as of September 30, 2000.
Of the amount
outstanding, $1,477,759 has been loaned to the Operating
Partnerships. The
loans will be converted to capital and the remaining
contributions of $985,354
will be released from available net offering proceeds when the
Operating
Partnerships have achieved the conditions set forth in their
partnership
agreements.
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 10, 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.
During the quarter ended September 30, 2000, Series 29 recorded
capital
contribution releases of $595,893. Series 29 has outstanding
contributions
payable in the amount of $1,410,987 as of September 30, 2000. Of
the amount
outstanding, $835,878 has been loaned to the Operating
Partnerships. The
loans will be converted to capital and the remaining
contributions of
$575,109 will be released from available net offering proceeds
when the
Operating Partnerships have achieved the conditions set forth in
their
partnership agreements.
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
$19,530,111.
During the quarter ended September 30, 2000, Series 30 recorded
capital
contribution releases of $206,219. Series 30 has outstanding
contributions
payable in the amount of $2,249,961 as of September 30, 2000.
Of the amount
outstanding, $425,046 has been advanced or loaned to the
Operating
Partnerships. In addition, $343,443 has been funded into escrow
accounts on
behalf of the Operating Partnerships. The advances and loans
will be
converted to capital and the remaining contributions of
$1,824,915, will be
released from the escrow accounts and available net offering
proceeds, when
the Operating Partnerships have achieved the conditions set forth
in their
partnership agreements.
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.
During the quarter ended September 30, 2000, Series 31 recorded
capital
contribution releases of $426,979. Series 31 has outstanding
contributions
payable in the amount of $1,633,203 as of September 30, 2000. Of
the amount
outstanding, $655,675 has been advanced or loaned to some of the
Operating
Partnerships. In addition, $25,000 has been funded into an
escrow account on
behalf of one of the Operating Partnerships. The advances and
loans will be
converted to capital and the remaining contributions of $977,528,
will be
released from the escrow accounts and available net offering
proceeds, when
the Operating Partnerships have achieved the conditions set forth
in their
partnership agreements.
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 16 Operating Partnerships in the amount of
$34,962,199. The
series has also purchased assignments 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. Under the terms of the
Assignments of
Membership Interests dated December 1, 1998 the series is
entitled to certain
profits, losses, tax credits, cash flow, proceeds from capital
transactions
and capital account as defined in the individual Operating
Agreements. The
series utilized $1,092,847 of funds available to invest in
Operating
Partnerships for this investment.
During the quarter ended September 30, 2000, Series 32 recorded
capital
contribution releases of $544,181. Series 32 has outstanding
contributions
payable in the amount of $3,495,858 as of September 30, 2000. Of
the amount
outstanding, $144,825 has been loaned the Operating Partnerships.
In
addition, $883,418 has been funded into escrow accounts on behalf
of other
Operating Partnerships. The loans will be converted to capital
and the
remaining contributions of $3,351,033, will be released from the
escrow
accounts and available net offering proceeds, when the Operating
Partnerships
have achieved the conditions set forth in their partnership
agreements.
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
$19,591,285.
During the quarter ended September 30, 2000, Series 33 recorded
capital
contribution releases of $274,903. Series 33 has outstanding
contributions
payable in the amount of $2,932,896 as of September 30, 2000.
Of the amount
outstanding, $154,400 has been loaned to the Operating
Partnerships. In
addition, $126,295 has been funded into an escrow account on
behalf of other
Operating Partnerships. The loans will be converted to capital
and the
remaining contributions of $2,778,496, will be released from the
escrow
account and available net offering proceeds, when the Operating
Partnerships
have achieved the conditions set forth in their partnership
agreements.
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
$25,640,408.
During the quarter ended September 30, 2000, Series 34 recorded
capital
contribution releases of $1,154,357. Series 34 has outstanding
contributions
payable the Operating Partnerships in the amount of $3,293,777
as of
September 30, 2000. Of the amount outstanding, $1,526,874 has
been loaned or
advanced to some of the Operating Partnerships. In addition,
$12,265 has been
funded into escrow accounts on behalf of other Operating
Partnerships. The
loans and advances will be converted to capital and the remaining
contributions of $1,766,903, will be released from the escrow
accounts and
available net offering proceeds, when the Operating Partnerships
have achieved
the conditions set forth in their partnership agreements.
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 25, 1999.
The fund has
committed proceeds to pay initial and additional installments of
capital
contributions to 10 Operating Partnerships in the amount of
$22,661,750.
During the quarter ended September 30, 2000, Series 35 recorded
capital
contribution releases of $1,109,966. Series 35 has outstanding
contributions
payable in the amount of $2,595,358 as of September 30, 2000.
Of the amount
outstanding, $817,708 has been loaned to one of the Operating
Partnerships.
In addition, $10,855 has been funded into escrow accounts on
behalf of other
Operating Partnerships. The loans will be converted to capital
and the
remaining contributions of $1,777,650, will be released from the
escrow
accounts and available net offering proceeds, when the Operating
Partnerships
have achieved the conditions set forth in their partnership
agreements.
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
$15,273,148.
During the quarter ended September 30, 2000, Series 36 recorded
capital
contribution releases of $2,025,658. Series 36 has outstanding
contributions
payable to in the amount of $2,600,709 as of September 30, 2000.
Of the
amount outstanding, $1,072,416 has been loaned or advanced to
some of the
Operating Partnerships. The loans and advances will be converted
to capital
and the remaining contributions of $1,528,293, will be released
from available
net offering proceeds, when the Operating Partnerships have
achieved the
conditions set forth in their partnership agreements.
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, 1999.
The fund has
committed proceeds to pay initial and additional installments of
capital
contributions to 5 Operating Partnerships in the amount of
$17,296,636.
During the quarter ended September 30, 2000, Series 37 recorded
capital
contribution releases of $3,976,210. Series 37 has outstanding
contributions
payable in the amount of $5,941,684 as of September 30, 2000. Of
the amount
outstanding, $235,937 has been loaned to the Operating
Partnerships. The loans
will be converted to capital and the remaining contributions of
$5,705,747,
will be released from available net offering proceeds, when the
Operating
Partnerships have achieved the conditions set forth in their
partnership
agreements.
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 6 Operating Partnerships in the amount of
$11,677,353.
During the quarter ended September 30, 2000, Series 38 recorded
capital
contribution releases of $9,288,827. Series 38 has outstanding
contributions
payable in the amount of $7,368,505 as of September 30, 2000. Of
the amount outstanding, $1,494,767 has been funded into an escrow
account on behalf of
an Operating Partnership. The remaining contributions will be
released from the escrow account and available net offering
proceeds, when the Operating Partnerships have achieved the
conditions set forth in their partnership agreements.
Series 39
The fund commenced offering BACs in Series 39 on August 1, 2000.
As of
September 30, 2000, the Fund is continuing to offer additional
BACs in Series
39. The Fund has committed proceeds to pay initial installments
of capital
contributions to 3 Operating Partnerships in the amount of
$11,935,182.
During the quarter ended September 30, 2000, Series 39 recorded
capital contribution releases of $5,434,298. Of the total
released $4,306,159 was
financed from the line of credit agreement with Fleet Bank.
Series 39 has
outstanding contributions payable in the amount of $6,500,884 as
of September
30,2000.
The remaining contributions will be released from available net
offering
proceeds and collections of additional net offering proceeds,
when the
Operating Partnerships have achieved the conditions set forth in
their
partnership agreements.
Line of Credit
The Fund has entered into a line of credit financing agreement
with Fleet
National Bank whereby the Fund can borrow up to $5 million for up
to 90 days
to meet short-term cash needs required for the investment in
certain Operating
Partnerships. Under the terms of the agreement, the Fund pledges
their
interest in a particular Operating Partnership in order to draw
funds from the
line. The repayment of any draws is anticipated to be made once
the Fund has
received sufficient Investor proceeds. Repayments on the line
are tied to
specific Operating Partnerships, which are then released as
collateral by the
bank. As of September 30, 2000 $4,306,159 had been drawn from
the line of credit. It is anticipated the full amount will be
repaid by November 30, 2000.
Results of Operations
As of September 30, 2000 and 1999 the Fund held limited
partnership interests
in 368 and 342 Operating Partnerships, respectively. In each
instance the
Apartment Complex owned by the applicable Operating Partnership
is eligible
for the Federal Housing Tax Credit. Occupancy of a unit in each
Apartment
Complex which initially complied with the Minimum Set-Aside Test
(i.e.,
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
hereinafter 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
believes
that there is adequate casualty insurance on the properties.
The Fund's results of operations for future periods will vary
significantly
from those for the period ended September 30, 2000 as Series 32,
Series 34,
Series 35, Series 37, Series 38 and Series 39 continue to use the
funds raised
to invest in partnership interests of additional Operating
Partnerships, and
the Fund continues to offer BACs in Series 39.
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 certain asset management and reporting fees paid by the
Operating
Partnerships. The fund management fees incurred for the quarter
ended
September 30, 2000 for 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 and
Series 38 were $73,214, $54,460, $61,336, $60,066, $58,338,
$64,969, $87,243,
$64,601, $83,529, $73,895, $50,479, $86,876, $75,375, $42,333,
$73,155,
$49,660, $40,189, $26,697, and $23,720, respectively.
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, 2000 and 1999 the average Qualified Occupancy
for the
series was 100%. The series had a total of 24 properties at
September 30, 2000, all of which were at 100% Qualified
Occupancy.
For the six months being reported Series 20 reflects a net loss
from
Operating Partnerships of $939,931. When adjusted for
depreciation which
is a non-cash item, the Operating Partnerships reflect positive
operations of
$537,915. This is an interim period estimate; it is not
indicative of the
final year end results.
The Operating General Partner, Investment Limited Partner and the
management company are working diligently to maintain a strong
occupancy at Breeze Cove Limited Partnership (Breeze Cove
Apartments). The average occupancy during the first nine months
of 2000 was 90%. The Operating General Partner continues to
encourage the management company to reduce operating expenses to
establish a stable operating history so that a debt restructuring
will be possible in the future. To decrease unit turnover and the
resulting expenses, the new management company is being more
selective with tenant applications. In addition, the Operating
General Partner and Investment Limited Partner have funded
operating deficits as needed.
East Douglas Apartments Limited Partnership (East Douglas
Apartments) average occupancy for the nine months ended September
30, 2000 was 92%. The property's decreasing occupancy has
increased the accounts payable balance and the property has
required operating deficit funding from the Investment General
Partner. There was a Form 8823, Low Income Housing Credit
Agencies Report of Noncompliance, filed against the property in
1999. While the files are presently in good condition, there
were a number of compliance issues that occurred during the
initial occupancy of the building. The non-compliance items are
being researched and the management agent is presently working
with the state agency to rectify the situation.
Parkside Housing Limited Partnership (Parkside Apartments)
operated with a net loss during 1999 primarily as a result of
capital improvements that were made during the year. None of the
capital expenditures for 1999 were reimbursed from the
replacement reserve account, but were instead funded through
operations. However, a request to withdraw funds from the
replacement reserve was granted during the first quarter of 2000,
and a deposit has since been made into the operating account.
These funds should alleviate some of the outstanding payables.
Since the reserves are under-funded due to low occupancy in
previous years, the approved withdrawal was minimal. As a result
of increased marketing efforts, physical occupancy for 1999
averaged 91.2% and continues its upward trend as evidenced with a
strong 99% average for the first eight months of 2000.
Series 21
As of the September 30, 2000 and 1999 the average Qualified
Occupancy for the
series was 99.6% and 99.1%, respectively. The series had a total
of 14
properties at September 30, 2000. Out of the total 12 were at
100% Qualified
Occupancy.
For the six months being reported Series 21 reflects a net loss
from
Operating Partnerships of $491,663. When adjusted for
depreciation which is
a non-cash item, the Operating Partnerships reflect positive
operations of
$100,586. This is an interim period estimate; it is not
indicative of the
final year end results.
Atlantic City Housing Urban Renewal Associates L.P. reported a
net loss net of
depreciation, which is a non-cash item, for the year ended
December 31, 1999
of approximately $185,000. The property's operations were
impacted by high
costs for security and maintenance, while the Section 8 Rental
Assistance
Contract had only seen small incremental increases over the past
few years.
The Operating General Partner funded most of the deficits, though
outstanding
payables remained high. The Operating General Partner is
committed to seeing
through the problems by continuing to fund deficits as needed. A
new
management company was contracted on June 1, 2000 and has kept
the site staff
in place. This local company is in a good position to add value
by providing
better site supervision, better vendor relations and discounted
bulk
purchasing of services and supplies. In addition, most of the
expense
reduction has come from the security line item. The new
management company has
contracted with a new security company that will commence on
December 1, 2000.
The monthly cost associated with this change will be a
significant savings to
the project. They are also presently researching the cost of
security
equipment such as monitors and cameras. The Investment General
Partner is
monitoring the situation closely through quarterly inspections
and is working
with the Operating General Partner on curing the operational
issues. Atlantic
City Housing Urban Renewal Associates LP will continue to show
deficits for
the foreseeable future. Occupancy declined slightly during the
third quarter
of the year as a result of numerous evictions. The new
management company is
aggressive with trying to maintain a safe place for the
residents. The
property has a project based Section 8 HAP contract, which
protects it from
much of the market rate competition. Applicants come from an
ample Housing
Authority waiting list. However, the investment will remain
viable only so
long as the Operating General Partner is willing an able to
continue to fund
operating deficits.
Series 22
As of September 30, 2000 and 1999 the average Qualified Occupancy
for the
series was 100%. The series had a total of 29 properties at June
30, 2000,
all of which were at 100% Qualified Occupancy.
For the six months being reported Series 22 reflects a net loss
from
Operating Partnerships of $672,787. When adjusted for
depreciation which is a
non-cash item, the Operating Partnerships reflect positive
operations of
$243,653. This is an interim period estimate; it is not
indicative of the
final year end results.
Series 23
As of September 30, 2000 and 1999 the average Qualified Occupancy
for the
series was 100%. The series had a total of 22 properties at
September 30, 2000, all of which were at 100% Qualified
Occupancy.
For the six months being reported Series 23 reflects a net loss
from
Operating Partnerships of $593,633. When adjusted for
depreciation which
is a non-cash item, the Operating Partnerships reflect a positive
operations
of $335,927. This is an interim period estimate; it is not
indicative of the
final year end results.
Series 24
As of September 30, 2000 and 1999 the average Qualified Occupancy
for the
series was 99.9 % and 99.8%, respectively. The series had a
total of 24
properties at September 30, 2000. Out of the total 23 were at
100% Qualified
Occupancy.
For the six months being reported Series 24 reflects a net loss
from
Operating Partnerships of $710,313. When adjusted for
depreciation which is a
non-cash item, the Operating Partnerships reflect positive
operations of
$231,681. This is an interim period estimate; it is not
indicative of the
final year end results.
Los Lunas Apartments Limited (Hillridge Apartments) suffered from
decreased
occupancy during 1999 and, as a result operated below break-even.
Due to
negative cash flow, debt service payments fell behind and the New
Mexico
Mortgage Finance Authority issued a notice of default to the
Operating General
Partner for non-payment of the debt service. Due to the mortgage
default, the
Investment Limited Partner removed the Operating General Partner,
however, the
Operating General Partner was allowed to remain in control of
property
management. During a February 2000 meeting with the Investment
Limited
Partner and the New Mexico Mortgage Finance Authority, the former
Operating
General Partner was able to cure the mortgage default. However a
Stipulated
Order was simultaneously filed with the court allowing for
management
agreement to be terminated if certain conditions, including a
prompt payment
of the monthly mortgage obligation were not met. The June
mortgage payment is
delinquent. As a result of the mortgage delinquency, the
Investment Limited
Partner removed the former Operating General Partner as
management agent and
appointed a third-party management agent. Several days after the
appointment
of the third-party manager, the former Operating General Partner
filed a
Temporary Restraining Order against the newly appointed
management company and
the Investment Limited Partner. A hearing regarding the
temporary restraining
order was conducted on July 14, 2000 and the restraining order
was lifted.
Due to the continued mortgage delinquency, on July 21, 2000 the
mortgage
lender filed a motion to place the property in receivership. The
motion was
granted and Monarch Properties was appointed as the new managing
agent. The
Investment Limited Partner is working with Monarch Properties to
stabilize
operations and with the lender to restructure the debt.
Series 25
As of September 30, 2000 and 1999 the average Qualified Occupancy
for the
series was 99.8%. The series had a total of 22 properties at
September 30, 2000. Out of the total 21 were at 100% Qualified
Occupancy.
For the six months being reported Series 25 reflects a net loss
from
Operating Partnerships of $798,367. When adjusted for
depreciation which
is a non-cash item, the Operating Partnerships reflect a positive
operations
of $247,978. This is an interim period estimate; it is not
indicative of the
final year end results.
Series 26
As of September 30, 2000 and 1999 the average Qualified Occupancy
for the
series was 100% and 98.4%, respectively. The series had a total
of 45
properties at September 30, 2000, all of which were at 100%
Qualified
Occupancy.
For the six months being reported Series 26 reflects a net loss
from
Operating Partnerships of $535,413. When adjusted for
depreciation which is a
non-cash item, the Operating Partnerships reflect positive
operations of
$895,005. This is an interim period estimate; it is not
indicative of the
final year end results.
On October 18, 2000, A.V.A. Limited Partnership (Hanover
Apartments), a
property consisting of five buildings and forty units, sustained
major fire
damage. Due to the fire damage one building containing eight
units is
currently uninhabitable. There were no serious injuries reported
to the
tenants. The fire is being fully investigated and bids have been
submitted to
contractors to rehab the building. The property is covered by
both fire
insurance, which should cover repair cost, and lost rental income
insurance.
Series 27
As of September 30, 2000 and 1999 the average Qualified Occupancy
for the
series was 99.9% and 98.1%, respectively. The series had a total
of 16
properties at September 30, 2000. Out of the total 15 were at
100% Qualified
Occupancy and 1 was in active lease-up.
For the six months being reported Series 27 reflects a net loss
from
Operating Partnerships of $454,624. When adjusted for
depreciation which is a
non-cash item, the Operating Partnerships reflect positive
operations of
$722,458. This is an interim period estimate; it is not
indicative of the
final year end results.
Centrum-Fairfax II Limited Partnership's (Forest Glen at Sulley
Station Phase II) low occupancy during the first nine months of
2000 has resulted in continued negative cash flow. The average
physical occupancy increased from 76% in the second quarter of
2000 to 85% in the third quarter of 2000. As of September 30,
2000 the occupancy was at 88% and qualified occupancy was at 98%.
Centrum Management LLC, an affiliate of the Operating General
Partner, and the management agent continues to use various
marketing and sales initiatives to increase the occupancy.
Centrum Management LLC expects to have the project tax credit
qualified by the end of 2000.
Series 28
As of September 30, 2000 and 1999 the average Qualified Occupancy
for the
series was 100% and 96.8%, respectively. The series had a total
of 26
properties at September 30, 2000, all of which were at 100%
Qualified
Occupancy.
For the six months being reported Series 28 reflects a net loss
from
Operating Partnerships of $677,019. When adjusted for
depreciation which is
a non-cash item, the Operating Partnerships reflect positive
operations of
$423,069. This is an interim period estimate; it is not
indicative of the
final year end results.
Series 29
As of September 30, 2000 and 1999 the average Qualified Occupancy
for the
Series was 99.9% and 93.9%, respectively. The series had a total
of 22
properties at September 30, 2000. Out of the total 21 were at
100% Qualified
Occupancy.
For the six months being reported Series 29 reflects a net loss
from
Operating Partnerships of $619,946. When adjusted for
depreciation which is
a non-cash item, the Operating Partnerships reflect positive
operations of
$495,092. This is an interim period estimate; it is not
indicative of the
final year end results.
Series 30
As of September 30, 2000 and 1999 the average Qualified Occupancy
for the
series was 100% and 92.3%, respectively. The series had a total
of 20
properties at September 30, 2000, all of which were at 100%
Qualified
Occupancy.
For the six months being reported Series 30 reflects a net loss
from
Operating Partnerships of $362,840. When adjusted for
depreciation which is
a non-cash item, the Operating Partnerships reflect positive
operations of
$229,181. This is an interim period estimate; it is not
indicative of the
final year end results.
Series 31
As of September 30, 2000 and 1999 the average Qualified Occupancy
for the
series was 100% and 96.0%, respectively. The series had a total
of 27
properties at September 30, 2000, all of which were at 100%
Qualified
Occupancy.
For the six months being reported Series 31 reflects a net loss
from
Operating Partnerships of $801,115. When adjusted for
depreciation which is
a non-cash item, the Operating Partnerships reflect a positive
operations of
$648,877. This is an interim period estimate; it is not
indicative of the
final year end results.
Series 32
As of September 30, 2000 and 1999, the average Qualified
Occupancy for the
series was 100% and 76.6%, respectively. The series had a total
of 16
properties at September 30, 2000. Out of the total 14 were at
100% Qualified
Occupancy. The series also had 2 properties that were under
construction.
2000.
For the six months being reported Series 32 reflects a net loss
from
Operating Partnerships of $385,918. When adjusted for
depreciation which is a
non-cash item, the Operating Partnerships reflect positive
operations of
$256,567. This is an interim period estimate; it is not
indicative of the
final year end results.
Series 33
As of September 30, 2000 and 1999 the average Qualified Occupancy
for the
series was 99.9% and 70.4%, respectively. The series had a total
of 10
properties as of September 30, 2000. Out of the total 8 were at
100%
Qualified Occupancy. The series also had 1 property that was
under construction at September 30, 2000.
For the six months being reported Series 33 reflects a net loss
from
Operating Partnerships of $145,305. When adjusted for
depreciation which is a
non-cash item, the Operating Partnerships reflect positive
operations of
$83,820. This is an interim period estimate; it is not
indicative of the final year end results.
Series 34
As of September 30, 2000 and 1999 the average Qualified Occupancy
for the series was 92.9% and 70.3%, respectively. The series had
a total of 14
properties as of September 30, 2000. Out of the total 11 were at
100% qualified occupancy and 2 were in active lease-up. The
series also had 1 property which was still under construction at
September 30, 2000.
For the six months being reported Series 34 reflects a net loss
from
Operating Partnerships of $126,248. When adjusted for
depreciation which is a
non-cash item, the Operating Partnerships reflect positive
operations of
$312,367. This is an interim period estimate; it is not
indicative of the
final year end results.
Series 35
As of September 30, 2000 the average Qualified Occupancy for the
series was
73.6%. The series had a total of 10 properties as of September
30, 2000. Out
of the total 3 were at 100% qualified occupancy and 5 were in
active lease-up.
The series also had 1 property which was still under
construction, and 1
property with multiple buildings some or which were in lease-up
and some of
which were under construction at September 30, 2000. Since all
of the
properties acquired as of September 30, 1999 were under
construction, there is no comparative information to report.
For the six months being reported Series 35 reflects a net loss
from
Operating Partnerships of $236,584. When adjusted for
depreciation which is a
non-cash item, the Operating Partnerships reflect a net loss of
$103,998.
This is an interim period estimate; it is not indicative of the
final year end
results.
Series 36
As of September 30, 2000 and 1999 the average Qualified Occupancy
for the
series was 79.3% and 15%, respectively. The series had a total
of 11
properties as of September 30, 2000. Out of the total 7 were at
100%
qualified occupancy and 3 were in active lease-up. The series
also had 1
property which was under construction at September 30, 2000.
For the six months being reported Series 36 reflects a net loss
from
Operating Partnerships of $25,838. When adjusted for
depreciation which is a
non-cash item, the Operating Partnerships reflect positive
operations of
$134,345. This is an interim period estimate; it is not
indicative of the
final year end results.
Series 37
As of September 30, 2000 the average Qualified Occupancy for the
series was
40.7%. The series had a total of 5 properties as of September 30,
2000, 2 of
which were in active lease-up and 4 of which were under
construction. Since
all of the properties were acquired after September 30, 1999,
there is no
comparative information to report.
Series 38
As of September 30, 2000 the average Qualified Occupancy for the
series was
66.7%. The series had a total of 8 properties as of September 30,
2000, 2 of
which were at 100% Qualified Occupancy. The series also had 5
properties
which were under construction and 1 property with multiple
buildings, some of
which were in lease-up and some of which were under construction
at September
30, 2000. Since all of the properties were acquired after
September 30, 1999,
there is no comparative information to report.
Series 39
The series had a total of 3 properties as of September 30, 2000,
all of which
were under construction. Since all of the properties were
acquired after
September 30, 1999, there is no comparative information to
report.
Year 2000
As previously stated in the Partnership's 10-K, Boston Capital
and its
management have reviewed the potential computer problems that may
arise from
the century date change known as the "Year 2000" or "Y2K"
problem. We are
happy to announce that we did not experience any computer-related
problems as
a result of this date change and therefore, there was no impact
on our
investors.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
None
Item 2. Changes in Securities
None
Item 3. Defaults upon Senior Securities
None
Item 4. Submission of Matters to a Vote of Security Holders
None
Item 5. Other Information
None
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibits
None
(b) Reports on Form 8-K
Agreement of Limited Partnership of Belmont
Affordable Housing
II L.P. (incorporated by reference from Registrants
current report
on form 8-K as filed with the Securities and Exchange
Commission
on September 29, 2000.)
Agreement of Limited Partnership of Jackson Bond
L.P.(incorporated
by reference from Registrants current report on form
8-K as filed
with the Securities and Exchange Commission on
September 29,
2000.)
Agreement of Limited Partnership of Fort Bend NHC,
L.P.
(incorporated by reference from Registrants current
report
on form 8-K as filed with the Securities and Exchange
Commission
on September 29, 2000.)
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.
By: C&M Associates d/b/a
Boston Capital Associates
Date: November 20, 2000 By: /s/ John P. Manning
________________________
John P. Manning,
Partner & Principal
Financial
Officer
