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INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Tables)
 12 Months Ended
Mar. 31, 2014
Investments In and Advance To Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]  
Schedule Of Number Of Operating Partnerships [Table Text Block]
The number of operating limited partnerships in which the Fund has limited partnership interests at March 31, 2014 and 2013 by series are as follows:
 
 
 
2014
 
2013
 
Series 15
 
 
24
 
 
25
 
Series 16
 
 
28
 
 
31
 
Series 17
 
 
17
 
 
25
 
Series 18
 
 
18
 
 
20
 
Series 19
 
 
8
 
 
9
 
 
 
 
95
 
 
110
 
Schedule Of Dispositions By Series [Table Text Block]
A summary of the dispositions by Series for March 31, 2014 is as follows:
 
 
 
Operating
 
Sale of
 
 
 
 
 
 
 
 
 
Partnership
 
Underlying
 
Partnership
 
 
 
 
 
 
Interest
 
Operating
 
Proceeds from
 
Gain on
 
 
 
Transferred
 
Partnership
 
Disposition *
 
Disposition
 
Series 15
 
 
1
 
 
-
 
$
20,746
 
$
20,746
 
Series 16
 
 
2
 
 
1
 
 
856,031
 
 
791,031
 
Series 17
 
 
7
 
 
1
 
 
5,702,299
 
 
5,708,385
 
Series 18
 
 
2
 
 
-
 
 
28,018
 
 
28,018
 
Series 19
 
 
1
 
 
-
 
 
-
 
 
-
 
Total
 
 
13
 
 
2
 
$
6,607,094
 
$
6,548,180
 
 
* Fund proceeds from disposition includes $65,000 recorded as a receivable as of March 31, 2013 for Series 16 and Fund proceeds from disposition does not include the following amount which was due to a writeoff of capital contribution payable of $6,086 for Series 17.
 
During the year ended March 31, 2013 the Fund disposed of twenty-four operating limited partnerships.
 
A summary of the dispositions by Series for March 31, 2013 is as follows:
 
 
 
Operating
 
Sale of
 
 
 
 
 
 
 
 
 
Partnership
 
Underlying
 
Partnership
 
 
 
 
 
 
Interest
 
Operating
 
Proceeds from
 
Gain on
 
 
 
Transferred
 
Partnership
 
Disposition *
 
Disposition
 
Series 15
 
 
5
 
 
-
 
$
40,762
 
$
40,762
 
Series 16
 
 
7
 
 
-
 
 
107,649
 
 
172,649
 
Series 17
 
 
1
 
 
1
 
 
336,562
 
 
336,562
 
Series 18
 
 
1
 
 
2
 
 
859,438
 
 
859,438
 
Series 19
 
 
7
 
 
-
 
 
1,195,560
 
 
1,195,560
 
Total
 
 
21
 
 
3
 
$
2,539,971
 
$
2,604,971
 
 
* Fund proceeds from disposition does not include $65,000 recorded as a receivable as of March 31, 2013 for Series 16.
Schedule Of Contributions Payable [Table Text Block]
The contributions payable to operating limited partnerships at March 31, 2014 and 2013 by series are as follows:
 
 
 
2014
 
2013
 
Series 15
 
$
-
 
$
-
 
Series 16
 
 
50,008
 
 
50,008
 
Series 17
 
 
16,712
 
 
22,798
 
Series 18
 
 
18,554
 
 
18,554
 
Series 19
 
 
-
 
 
-
 
 
 
$
85,274
 
$
91,360
 
Schedule Of Partnerships Investments In Operating Limited Partnerships [Table Text Block]
The Fund’s investments in operating limited partnerships at March 31, 2014 are summarized as follows:
 
 
 
Total
 
Series 15
 
Series 16
 
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters
 
$
40,059,536
 
$
7,416,274
 
$
9,989,000
 
 
 
 
 
 
 
 
 
 
 
 
Acquisition costs of operating limited partnerships
 
 
5,485,105
 
 
1,051,848
 
 
1,307,682
 
 
 
 
 
 
 
 
 
 
 
 
Syndication costs from operating limited partnerships
 
 
(36,455)
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative distributions from operating limited partnerships
 
 
(109,387)
 
 
(4,207)
 
 
(18,795)
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative impairment loss in investment in operating limited partnerships
 
 
(7,980,878)
 
 
(767,819)
 
 
(1,489,694)
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative losses from operating limited partnerships
 
 
(37,417,921)
 
 
(7,696,096)
 
 
(9,788,193)
 
 
 
 
 
 
 
 
 
 
 
 
Investments in operating limited partnerships per balance sheets
 
 
-
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2014 which have not been included in the partnership’s
     capital account included in the operating limited partnerships’ financial statements as of December 31, 2013 (see note A)
 
 
(251,774)
 
 
(14,246)
 
 
(93,920)
 
 
 
 
 
 
 
 
 
 
 
 
The Fund has recorded acquisition costs at March 31, 2014 which have not been recorded in the net assets of the operating limited partnerships (see note A)
 
 
(731,033)
 
 
(180,526)
 
 
(121,307)
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of
     December 31, due to different year ends (see note A)
 
 
661,736
 
 
99,993
 
 
-
 
 
 
 
Total
 
Series 15
 
Series 16
 
 
 
 
 
 
 
 
 
 
 
 
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A)
 
 
(32,676,601)
 
 
(7,704,240)
 
 
(9,746,456)
 
 
 
 
 
 
 
 
 
 
 
 
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A)
 
 
293,057
 
 
86,996
 
 
116,307
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative impairment loss in investment in operating limited partnerships
 
 
7,980,878
 
 
767,819
 
 
1,489,694
 
 
 
 
 
 
 
 
 
 
 
 
Other
 
 
147,238
 
 
(31,217)
 
 
410,145
 
 
 
 
 
 
 
 
 
 
 
 
Equity per operating limited partnerships’ combined financial statements
 
$
(24,576,499)
 
$
(6,975,421)
 
$
(7,945,537)
 
 
The Fund’s investments in operating limited partnerships at March 31, 2014 are summarized as follows:
 
 
 
Series 17
 
Series 18
 
Series 19
 
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters
 
$
9,084,913
 
$
9,231,164
 
$
4,338,185
 
 
 
 
 
 
 
 
 
 
 
 
Acquisition costs of operating limited partnerships
 
 
1,336,534
 
 
1,189,539
 
 
599,502
 
 
 
 
 
 
 
 
 
 
 
 
Syndication costs from operating limited partnerships
 
 
-
 
 
(36,455)
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative distributions from operating limited partnerships
 
 
(28,354)
 
 
(54,267)
 
 
(3,764)
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative impairment loss in investment in operating limited partnerships
 
 
(1,566,308)
 
 
(2,656,687)
 
 
(1,500,370)
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative losses from operating limited partnerships
 
 
(8,826,785)
 
 
(7,673,294)
 
 
(3,433,553)
 
 
 
 
 
 
 
 
 
 
 
 
Investments in operating limited partnerships per balance sheets
 
 
-
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2014 which have not been included in the partnership’s capital
     account included in the operating limited partnerships’ financial statements as of December 31, 2013 (see note A)
 
 
(118,756)
 
 
(5,588)
 
 
(19,264)
 
 
 
 
 
 
 
 
 
 
 
 
The Fund has recorded acquisition costs at March 31, 2014 which have not been recorded in the net assets of the operating limited partnerships (see note A)
 
 
(401,803)
 
 
-
 
 
(27,397)
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of
     December 31, due to different year ends (see note A)
 
 
268,254
 
 
274,653
 
 
18,836
 
  
 
 
Series 17
 
Series 18
 
Series 19
 
 
 
 
 
 
 
 
 
 
 
 
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A)
 
 
(5,255,229)
 
 
(6,299,282)
 
 
(3,671,394)
 
 
 
 
 
 
 
 
 
 
 
 
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A)
 
 
14,065
 
 
75,689
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative impairment loss in investment in operating limited partnerships
 
 
1,566,308
 
 
2,656,687
 
 
1,500,370
 
 
 
 
 
 
 
 
 
 
 
 
Other
 
 
(24,227)
 
 
(159,245)
 
 
(48,218)
 
 
 
 
 
 
 
 
 
 
 
 
Equity per operating limited partnerships’ combined financial statements
 
$
(3,951,388)
 
$
(3,457,086)
 
$
(2,247,067)
 
 
The Fund’s investments in operating limited partnerships at March 31, 2013 are summarized as follows:
 
 
 
Total
 
Series 15
 
Series 16
 
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters
 
51,341,667
 
$
7,581,708
 
$
12,074,291
 
 
 
 
 
 
 
 
 
 
 
Acquisition costs of operating limited partnerships
 
7,056,310
 
 
1,075,998
 
 
1,583,249
 
 
 
 
 
 
 
 
 
 
 
Syndication costs from operating limited partnerships
 
(36,455)
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
Cumulative distributions from operating limited partnerships
 
(111,389)
 
 
(4,207)
 
 
(20,268)
 
 
 
 
 
 
 
 
 
 
 
Cumulative impairment loss in investment in operating limited partnerships
 
(12,876,562)
 
 
(764,836)
 
 
(2,512,421)
 
 
 
 
 
 
 
 
 
 
 
Cumulative losses from operating limited partnerships
 
(45,373,571)
 
 
(7,888,663)
 
 
(11,124,851)
 
 
 
 
 
 
 
 
 
 
 
Investments in operating limited partnerships per balance sheets
 
-
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2013 which have not been included in the partnership’s capital
     account included in the operating limited partnerships’ financial statements as of December 31, 2012 (see note A)
 
(257,860)
 
 
(14,246)
 
 
(93,920)
 
 
 
 
 
 
 
 
 
 
 
The Fund has recorded acquisition costs at March 31, 2013 which have not been recorded in the net assets of the operating limited partnerships (see note A)
 
(921,085)
 
 
(180,526)
 
 
(121,307)
 
 
 
 
 
 
 
 
 
 
 
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of
     December 31, due to different year ends (see note A)
 
883,274
 
 
111,396
 
 
-
 
 
 
 
Total
 
Series 15
 
Series 16
 
 
 
 
 
 
 
 
 
 
 
 
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A)
 
 
(35,033,727)
 
 
(7,552,909)
 
 
(9,782,878)
 
 
 
 
 
 
 
 
 
 
 
 
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A)
 
 
300,838
 
 
86,996
 
 
123,421
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative impairment loss in investment in operating limited partnerships
 
 
12,876,562
 
 
764,836
 
 
2,512,421
 
 
 
 
 
 
 
 
 
 
 
 
Other
 
 
267,534
 
 
(29,476)
 
 
429,517
 
 
 
 
 
 
 
 
 
 
 
 
Equity per operating limited partnerships’ combined financial statements
 
$
(21,884,464)
 
$
(6,813,929)
 
$
(6,932,746)
 
 
The Fund’s investments in operating limited partnerships at March 31, 2013 are summarized as follows:
 
 
 
Series 17
 
Series 18
 
Series 19
 
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters
 
$
14,491,224
 
$
11,702,540
 
$
5,491,904
 
 
 
 
 
 
 
 
 
 
 
 
Acquisition costs of operating limited partnerships
 
 
2,117,487
 
 
1,514,128
 
 
765,448
 
 
 
 
 
 
 
 
 
 
 
 
Syndication costs from operating limited partnerships
 
 
-
 
 
(36,455)
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative distributions from operating limited partnerships
 
 
(28,883)
 
 
(54,267)
 
 
(3,764)
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative impairment loss in investment in operating limited partnerships
 
 
(3,288,846)
 
 
(4,172,906)
 
 
(2,137,553)
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative losses from operating limited partnerships
 
 
(13,290,982)
 
 
(8,953,040)
 
 
(4,116,035)
 
 
 
 
 
 
 
 
 
 
 
 
Investments in operating limited partnerships per balance sheets
 
 
-
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2013 which have not been included in the partnership’s
     capital account included in the operating limited partnerships’ financial statements as of December 31, 2012 (see note A)
 
 
(124,842)
 
 
(5,588)
 
 
(19,264)
 
 
 
 
 
 
 
 
 
 
 
 
The Fund has recorded acquisition costs at March 31, 2013 which have not been recorded in the net assets of the operating limited partnerships (see note A)
 
 
(591,855)
 
 
-
 
 
(27,397)
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of
     December 31, due to different year ends (see note A)
 
 
418,588
 
 
309,042
 
 
44,248
 
  
 
 
Series 17
 
Series 18
 
Series 19
 
 
 
 
 
 
 
 
 
 
 
 
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A)
 
 
(7,473,233)
 
 
(6,478,163)
 
 
(3,746,544)
 
 
 
 
 
 
 
 
 
 
 
 
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A)
 
 
14,732
 
 
75,689
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative impairment loss in investment in operating limited partnerships
 
 
3,288,846
 
 
4,172,906
 
 
2,137,553
 
 
 
 
 
 
 
 
 
 
 
 
Other
 
 
(22,278)
 
 
(89,451)
 
 
(20,778)
 
 
 
 
 
 
 
 
 
 
 
 
Equity per operating limited partnerships’ combined financial statements
 
$
(4,490,042)
 
$
(2,015,565)
 
$
(1,632,182)
 
Schedule Of Summarized Balance Sheets In Operating Partnerships [Table Text Block]
The combined summarized balance sheets of the operating limited partnerships at December 31, 2013 are as follows:
 
COMBINED SUMMARIZED BALANCE SHEETS
 
 
 
Total
 
Series 15
 
Series 16
 
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Buildings and improvements, net of accumulated depreciation
 
$
65,474,798
 
$
10,638,155
 
$
18,164,345
 
 
 
 
 
 
 
 
 
 
 
 
Land
 
 
7,435,734
 
 
1,244,835
 
 
1,633,868
 
 
 
 
 
 
 
 
 
 
 
 
Other assets
 
 
17,011,149
 
 
4,234,106
 
 
6,061,968
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
89,921,681
 
$
16,117,096
 
$
25,860,181
 
 
 
 
 
 
 
 
 
 
 
 
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgages and construction loans payable
 
$
103,294,917
 
$
23,388,703
 
$
29,504,432
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses
 
 
5,749,586
 
 
298,698
 
 
3,485,962
 
 
 
 
 
 
 
 
 
 
 
 
Other liabilities
 
 
7,435,396
 
 
749,927
 
 
955,168
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
116,479,899
 
 
24,437,328
 
 
33,945,562
 
PARTNERS’ CAPITAL (DEFICIT)
 
 
 
 
 
 
 
 
 
 
Boston Capital Tax Credit Fund III L.P.
 
 
(24,576,499)
 
 
(6,975,421)
 
 
(7,945,537)
 
Other partners
 
 
(1,981,719)
 
 
(1,344,811)
 
 
(139,844)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(26,558,218)
 
 
(8,320,232)
 
 
(8,085,381)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
89,921,681
 
$
16,117,096
 
$
25,860,181
 
  
The combined summarized balance sheets of the operating limited partnerships at December 31, 2013 are as follows:
  
 
 
Series 17
 
Series 18
 
Series 19
 
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Buildings and improvements, net of accumulated depreciation
 
$
15,755,284
 
$
12,716,393
 
$
8,200,621
 
 
 
 
 
 
 
 
 
 
 
 
Land
 
 
2,357,349
 
 
1,534,202
 
 
665,480
 
 
 
 
 
 
 
 
 
 
 
 
Other assets
 
 
3,349,330
 
 
2,550,077
 
 
815,668
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
21,461,963
 
$
16,800,672
 
$
9,681,769
 
 
 
 
 
 
 
 
 
 
 
 
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgages and construction loans payable
 
$
22,159,355
 
$
18,890,770
 
$
9,351,657
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses
 
 
860,339
 
 
838,492
 
 
266,095
 
 
 
 
 
 
 
 
 
 
 
 
Other liabilities
 
 
2,602,669
 
 
1,205,148
 
 
1,922,484
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
25,622,363
 
 
20,934,410
 
 
11,540,236
 
PARTNERS’ CAPITAL (DEFICIT)
 
 
 
 
 
 
 
 
 
 
Boston Capital Tax Credit Fund III L.P.
 
 
(3,951,388)
 
 
(3,457,086)
 
 
(2,247,067)
 
Other partners
 
 
(209,012)
 
 
(676,652)
 
 
388,600
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(4,160,400)
 
 
(4,133,738)
 
 
(1,858,467)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
21,461,963
 
$
16,800,672
 
$
9,681,769
 
 
The combined summarized balance sheets of the operating limited partnerships at December 31, 2012 are as follows:
 
COMBINED SUMMARIZED BALANCE SHEETS
 
 
 
Total
 
Series 15
 
Series 16
 
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Buildings and improvements, net of accumulated depreciation
 
$
95,826,256
 
$
11,960,583
 
$
22,821,455
 
 
 
 
 
 
 
 
 
 
 
 
Land
 
 
9,774,646
 
 
1,287,635
 
 
1,930,468
 
 
 
 
 
 
 
 
 
 
 
 
Other assets
 
 
18,999,881
 
 
4,023,199
 
 
6,004,950
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
124,600,783
 
$
17,271,417
 
$
30,756,873
 
 
 
 
 
 
 
 
 
 
 
 
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgages and construction loans payable
 
$
137,707,477
 
$
24,148,955
 
$
31,824,524
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses
 
 
6,965,641
 
 
350,564
 
 
3,300,317
 
 
 
 
 
 
 
 
 
 
 
 
Other liabilities
 
 
12,147,565
 
 
872,433
 
 
2,298,505
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
156,820,683
 
 
25,371,952
 
 
37,423,346
 
PARTNERS’ CAPITAL (DEFICIT)
 
 
 
 
 
 
 
 
 
 
Boston Capital Tax Credit Fund III L.P.
 
 
(21,884,462)
 
 
(6,813,927)
 
 
(6,932,746)
 
Other partners
 
 
(10,335,438)
 
 
(1,286,608)
 
 
266,273
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(32,219,900)
 
 
(8,100,535)
 
 
(6,666,473)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
124,600,783
 
$
17,271,417
 
$
30,756,873
 
 
The combined summarized balance sheets of the operating limited partnerships at December 31, 2012 are as follows:
  
 
 
Series 17
 
Series 18
 
Series 19
 
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Buildings and improvements, net of accumulated depreciation
 
$
30,801,499
 
$
18,518,861
 
$
11,723,858
 
 
 
 
 
 
 
 
 
 
 
 
Land
 
 
3,860,381
 
 
1,830,682
 
 
865,480
 
 
 
 
 
 
 
 
 
 
 
 
Other assets
 
 
4,966,333
 
 
2,915,815
 
 
1,089,584
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
39,628,213
 
$
23,265,358
 
$
13,678,922
 
 
 
 
 
 
 
 
 
 
 
 
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgages and construction loans payable
 
$
46,893,314
 
$
23,044,796
 
$
11,795,888
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses
 
 
1,209,547
 
 
1,299,758
 
 
805,455
 
 
 
 
 
 
 
 
 
 
 
 
Other liabilities
 
 
5,592,363
 
 
1,449,945
 
 
1,934,319
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
53,695,224
 
 
25,794,499
 
 
14,535,662
 
PARTNERS’ CAPITAL (DEFICIT)
 
 
 
 
 
 
 
 
 
 
Boston Capital Tax Credit Fund III L.P.
 
 
(4,490,042)
 
 
(2,015,565)
 
 
(1,632,182)
 
Other partners
 
 
(9,576,969)
 
 
(513,576)
 
 
775,442
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(14,067,011)
 
 
(2,529,141)
 
 
(856,740)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
39,628,213
 
$
23,265,358
 
$
13,678,922
 
Schedule Of Summarized Statement Of Operations In Operating Partnerships [Table Text Block]
The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2013 are as follows:
 
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
 
 
 
Total
 
Series 15
 
Series 16
 
Revenue
 
 
 
 
 
 
 
 
 
 
Rental
 
$
20,863,472
 
$
4,278,259
 
$
5,462,897
 
Interest and other
 
 
458,789
 
 
116,389
 
 
87,319
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21,322,261
 
 
4,394,648
 
 
5,550,216
 
Expenses
 
 
 
 
 
 
 
 
 
 
Interest
 
 
3,093,964
 
 
598,638
 
 
654,367
 
Depreciation and amortization
 
 
5,395,172
 
 
1,190,569
 
 
1,493,411
 
Taxes and insurance
 
 
2,716,801
 
 
554,343
 
 
704,902
 
Repairs and maintenance
 
 
4,538,378
 
 
997,909
 
 
1,345,782
 
Operating expenses
 
 
8,210,997
 
 
1,676,626
 
 
2,146,319
 
Other expenses
 
 
137,692
 
 
26,584
 
 
24,886
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
24,093,004
 
 
5,044,669
 
 
6,369,667
 
 
 
 
 
 
 
 
 
 
 
 
NET LOSS
 
$
(2,770,743)
 
$
(650,021)
 
$
(819,451)
 
 
 
 
 
 
 
 
 
 
 
 
Net loss allocated to Boston Capital Tax Credit Fund III L.P.*
 
$
(2,735,602)
 
$
(593,055)
 
$
(836,199)
 
 
 
 
 
 
 
 
 
 
 
 
Net Income (Loss) allocated to other partners
 
$
(35,141)
 
$
(56,966)
 
$
16,748
 
 
*
Amounts include $593,055, $836,199, $505,941, $574,802, and $225,605 for Series 15, Series 16, Series 17, Series 18 and Series 19, respectively, of loss not recognized under the equity method of accounting as described in note A.
 
The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2013 are as follows:
  
 
 
Series 17
 
Series 18
 
Series 19
 
Revenue
 
 
 
 
 
 
 
 
 
 
Rental
 
$
5,547,549
 
$
3,698,061
 
$
1,876,706
 
Interest and other
 
 
131,681
 
 
104,511
 
 
18,889
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5,679,230
 
 
3,802,572
 
 
1,895,595
 
Expenses
 
 
 
 
 
 
 
 
 
 
Interest
 
 
821,457
 
 
599,900
 
 
419,602
 
Depreciation and amortization
 
 
1,329,878
 
 
935,544
 
 
445,770
 
Taxes and insurance
 
 
667,253
 
 
574,910
 
 
215,393
 
Repairs and maintenance
 
 
1,157,847
 
 
780,541
 
 
256,299
 
Operating expenses
 
 
2,067,937
 
 
1,451,099
 
 
869,016
 
Other expenses
 
 
27,704
 
 
53,906
 
 
4,612
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6,072,076
 
 
4,395,900
 
 
2,210,692
 
 
 
 
 
 
 
 
 
 
 
 
NET LOSS
 
$
(392,846)
 
$
(593,328)
 
$
(315,097)
 
 
 
 
 
 
 
 
 
 
 
 
Net loss allocated to Boston Capital Tax Credit Fund III L.P.*
 
$
(505,941)
 
$
(574,802)
 
$
(225,605)
 
 
 
 
 
 
 
 
 
 
 
 
Net Income (Loss) allocated to other partners
 
$
113,095
 
$
(18,526)
 
$
(89,492)
 
 
*
Amounts include $593,055, $836,199, $505,941, $574,802, and $225,605 for Series 15, Series 16, Series 17, Series 18 and Series 19, respectively, of loss not recognized under the equity method of accounting as described in note A.
  
The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2012 are as follows:
 
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
 
 
 
Total
 
Series 15
 
Series 16
 
Revenue
 
 
 
 
 
 
 
 
 
 
Rental
 
$
26,731,006
 
$
4,411,357
 
$
6,091,709
 
Interest and other
 
 
1,067,985
 
 
82,448
 
 
574,644
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
27,798,991
 
 
4,493,805
 
 
6,666,353
 
Expenses
 
 
 
 
 
 
 
 
 
 
Interest
 
 
4,474,965
 
 
631,620
 
 
936,848
 
Depreciation and amortization
 
 
6,624,362
 
 
1,191,942
 
 
1,603,040
 
Taxes and insurance
 
 
3,210,387
 
 
536,484
 
 
706,281
 
Repairs and maintenance
 
 
6,581,642
 
 
1,009,388
 
 
1,648,565
 
Operating expenses
 
 
10,321,858
 
 
1,735,643
 
 
2,546,703
 
Other expenses
 
 
225,733
 
 
31,984
 
 
30,732
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
31,438,947
 
 
5,137,061
 
 
7,472,169
 
 
 
 
 
 
 
 
 
 
 
 
NET LOSS
 
$
(3,639,956)
 
$
(643,256)
 
$
(805,816)
 
 
 
 
 
 
 
 
 
 
 
 
Net loss allocated to Boston Capital Tax Credit Fund III L.P.*
 
$
(2,962,809)
 
$
(547,085)
 
$
(833,896)
 
 
 
 
 
 
 
 
 
 
 
 
Net Income (Loss) allocated to other partners
 
$
(677,147)
 
$
(96,171)
 
$
28,080
 
 
*
Amounts include $547,085, $833,896, $717,911, $537,292, and $326,625 for Series 15, Series 16, Series 17, Series 18 and Series 19, respectively, of loss not recognized under the equity method of accounting as described in note A.
  
The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2012 are as follows:
  
 
 
Series 17
 
Series 18
 
Series 19
 
Revenue
 
 
 
 
 
 
 
 
 
 
Rental
 
$
9,098,192
 
$
4,762,942
 
$
2,366,806
 
Interest and other
 
 
238,140
 
 
129,361
 
 
43,392
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
9,336,332
 
 
4,892,303
 
 
2,410,198
 
Expenses
 
 
 
 
 
 
 
 
 
 
Interest
 
 
1,594,515
 
 
749,490
 
 
562,492
 
Depreciation and amortization
 
 
2,101,456
 
 
1,143,170
 
 
584,754
 
Taxes and insurance
 
 
1,017,457
 
 
656,003
 
 
294,162
 
Repairs and maintenance
 
 
2,322,124
 
 
1,049,661
 
 
551,904
 
Operating expenses
 
 
3,359,421
 
 
1,760,101
 
 
919,990
 
Other expenses
 
 
35,553
 
 
71,381
 
 
56,083
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
10,430,526
 
 
5,429,806
 
 
2,969,385
 
 
 
 
 
 
 
 
 
 
 
 
NET LOSS
 
$
(1,094,194)
 
$
(537,503)
 
$
(559,187)
 
 
 
 
 
 
 
 
 
 
 
 
Net loss allocated to Boston Capital Tax Credit Fund III L.P.*
 
$
(717,911)
 
$
(537,292)
 
$
(326,625)
 
 
 
 
 
 
 
 
 
 
 
 
Net Income (Loss) allocated to other partners
 
$
(376,283)
 
$
(211)
 
$
(232,562)
 
 
*
Amounts include $547,085, $833,896, $717,911, $537,292, and $326,625 for Series 15, Series 16, Series 17, Series 18 and Series 19, respectively, of loss not recognized under the equity method of accounting as described in note A.