SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
AMENDMENT NO. 1
TO
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 17, 1996
WNC HOUSING TAX CREDIT FUND V, L.P., SERIES 4
(Exact name of registrant as specified in its charter)
California 33-91136 33-0707612
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3158 Redhill Avenue, Suite 120, Costa Mesa, California 92626
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (714) 662-5565
N/A
Former name or former address, if changed since last report)
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Item 7. Financial Statements and Exhibits
a. Financial Statements of Businesses Acquired.
Not Applicable.
b. Proforma Financial Information
Proforma Balance Sheet, September 30, 1996
Proforma Statement of Operations For the Period July 1, 1996
(date operations commenced) to September 30, 1996
Notes to Proforma Financial Statements
c. Exhibits
10.1 Amended and Restated Agreement of Limited Partnership
of Blessed Rock of El Monte
(previously filed)
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<PAGE>
WNC HOUSING TAX CREDIT FUND V, L.P., Series 4
(A California Limited Partnership)
(A Development-Stage Enterprise)
PROFORMA BALANCE SHEET
September 30, 1996
ASSETS
Historical Proforma Proforma
Balance Adjustments Balance
Cash $766,107 $1,265,500
(112,313) $1,919,294
Subscriptions receivable 450,000 450,000
Investment in limited partnerships 3,973,325 400,905
112,313 4,486,543
Other assets 702 0 702
-------- ---------- -----------
$5,190,134 $1,666,405 $6,856,539
============ =========== =========
LIABILITIES AND PARTNERS' CAPITAL
LIABILITIES:
Notes payable to limited
partnerships $2,482,421 $400,905 $2,883,326
Accrued fees and expenses
due to general
partner and affiliates 83,373 0 83,373
-------- ----------- ------
2,565,794 400,905 2,966,699
----------- --------- ---------
Partners' capital (Note 1):
General partner (3,578) (2,320) (5,898)
Limited partners 2,627,918 1,267,820 3,895,738
----------- ----------- ---------
Total partners' equity 2,624,340 1,265,500 3,889,840
----------- ----------- ---------
$5,190,134 $1,666,405 $6,856,539
============ ========= =========
- Unaudited -
See Accompanying Notes to Proforma Financial Statements
FS-1
<PAGE>
WNC HOUSING TAX CREDIT FUND V, L.P., SERIES 4
(A California Limited Partnership)
(A Development-Stage Enterprise)
PROFORMA STATEMENT OF OPERATIONS
For the Period July 1, 1996 (date operations commenced)
to September 30, 1996
Historical Proforma Proforma
Balance Adjustments Balance
Interest income $2,427 $2,427
-------
Operating expense
Amortization 418 418
Legal and accounting 44 44
----- ----
Total operating expense 462 462
--- ----
Income from operations 1,965 1,965
Equity in loss
of limited partnerships (2,040) (3.200) (5,240)
------- ------- -------
Net loss $ (75) $(3.200) $(3,275)
======== ======== ========
- Unaudited -
See Accompanying Notes to Proforma Financial Statements
FS-2
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WNC HOUSING TAX CREDIT FUND V, L.P., SERIES 4
(A California Limited Partnership)
(A Development-Stage Enterprise)
NOTES TO PROFORMA FINANCIAL STATEMENTS
NOTE 1 - GENERAL
The information contained in the following notes to the proforma financial
statements is condensed from that which appears in the financial statements.
Accordingly, these proforma financial statements should be reviewed in
conjunction with the financial statements and related notes thereto contained in
the WNC Housing Tax Credit Fund V, L.P., Series 4 financial statements dated
September 30, 1996. WNC Housing Tax Credit Fund V, L.P., Series 4 is referred to
in these notes as the "Partnership."
NOTE 2 - INTRODUCTION TO PROFORMA ADJUSTMENTS
As of September 30, 1996, the Partnership was admitted as majority limited
partner in two limited partnerships, Blessed Rock and Crescent City Apartments.
Subsequent to September 30, 1996, the Partnership has acquired a limited
partnership interest in one limited partnership, Ogallalla Apartments. The
investment commits the Partnership to capital contributions of $400,905.
In accordance with Article 11, Proforma Financial Information of Regulation S-X
of the Securities and Exchange Commission, the accompanying proforma balance
sheet was computed assuming that the limited partnership discussed above was
acquired at the end of the period presented. The adjustment to cash and partners
equity of $1,265,500 reflects the net proceeds from October 1, 1996 to November
14, 1996 from issuance of 1,600 units of limited partners capital ($1,600,000
less notes receivable of $102,500 and commissions and offering costs of
$232,000.) The adjustment of $400,905 reflects the Partnership's acquisition of
a limited partnership interest in Ogallalla Apartments as if the Partnership's
date of acquisition was September 30, 1996. The adjustment to liabilities of
$400,905 reflects future capital contributions payable. The second adjustment to
investment in limited partnerships and the second adjustment to cash of $112,313
reflects the acquisition fee for the acquisition of the identified limited
partnership.
Blessed Rock and Ogallalla Apartments were under construction or rehabilitation
during the period presented and had no operations which should be reported.
Crescent City Apartments had operations during the period presented prior to the
Partnership's acquisition of the limited partnership interest therein (July 1,
1996 to September 25, 1996), and a proforma loss of $3,200 had been recorded in
the Proforma Statement of Operations. The Partnership uses the equity method of
accounting to account for its investments in these local limited partnerships.
FS-3
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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.
WNC HOUSING TAX CREDIT FUND V, L.P., SERIES 4
Date: November 21, 1996 WNC & Associates, Inc.,
General Partner
By: /s/ JOHN B. LESTER, JR.
John B. Lester, Jr.,
President
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