<ARTICLE>                  5

                                                  
<PERIOD-TYPE>                                        3-MOS
<FISCAL-YEAR-END>                                    MAR-31-2001
<PERIOD-END>                                         JUN-30-2000
<CASH>                                               254,222
<SECURITIES>                                         2,652,537
<RECEIVABLES>                                        000
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     000
<PP&E>                                               000
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       21,258,394
<CURRENT-LIABILITIES>                                000
<BONDS>                                              000
<COMMON>                                             000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<OTHER-SE>                                           20,984,364
<TOTAL-LIABILITY-AND-EQUITY>                         21,258,394
<SALES>                                              000
<TOTAL-REVENUES>                                     158,616
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     135,999
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   000
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         (427,315)
<EPS-BASIC>                                        (6.14)
<EPS-DILUTED>                                        000

<F1>Included  in Total  Assets:  Investments  in Local Limited  Partnerships  of
$18,313,406 and Other assets of $38,229  <F2>Included  in Total  Liabilities and
Equity: Accounts payable to affiliates of $97,257,  Accounts payable and accrued
expenses  of $43,580 and  Deferred  revenue of  $133,193  <F3>Included  in Total
Revenue:  Investment  of  $42,487  and Other of  $116,129 <F4>Included  in Other
Expenses:General and administrative of $67,259, Asset management fees of $62,841
and Amortization of $5,899  <F5>Included in Net Loss:  Equity in losses of Local
Limited Partnerships of $449,932