RELATED PARTY TRANSACTIONS

12 Months Ended

Mar. 31, 2014

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

NOTE B - RELATED PARTY TRANSACTIONS

During the years ended March 31, 2014 and 2013, the fund entered into several transactions with various affiliates of the general partner, including Boston Capital Partners, Inc., Boston Capital Services, Inc., Boston Capital Holdings Limited Partnership and Boston Capital Asset Management Limited Partnership, as follows:

Boston Capital Asset Management Limited Partnership is entitled to an annual fund management fee based on .5% of the aggregate cost of all apartment complexes acquired by the operating limited partnerships, less the amount of certain partnership management and reporting fees paid or payable by the operating limited partnerships. The aggregate cost is comprised of the capital contributions made by each series to the operating limited partnerships and 99% of the permanent financing at the operating limited partnership level. The partnership management fees net of reporting fees incurred and the reporting fees paid by the Operating Partnerships for the years ended March 31, 2014 and 2013, are as follows:

	2014
	Gross Partnership Management Fee		Asset Management and Reporting Fee		Partnership Management Fee net of Asset Management and Reporting Fee
Series 15	$	135,318	$	53,352	$	81,966
Series 16		237,993		24,531		213,462
Series 17		233,204		101,849		131,355
Series 18		173,049		89,702		83,347
Series 19		67,842		11,390		56,452
	$	847,406	$	280,824	$	566,582

	2013
	Gross Partnership Management Fee		Asset Management and Reporting Fee		Partnership Management Fee net of Asset Management and Reporting Fee
Series 15	$	163,069	$	29,128	$	133,941
Series 16		292,407		51,711		240,696
Series 17		291,969		95,288		196,681
Series 18		240,197		62,424		177,773
Series 19		106,876		113,672		(6,796)
	$	1,094,518	$	352,223	$	742,295

The partnership management fees paid for the years ended March 31, 2014 and 2013 are as follows:

	2014		2013
Series 15	$	40,762	$	25,000
Series 16		898,680		157,500
Series 17		4,855,319		464,062
Series 18		28,018		859,438
Series 19		67,842		106,876
	$	5,890,621	$	1,612,876

All partnership management fees will be paid, without interest, from available cash flow or the proceeds of sales or refinancing of the partnership's interests in operating limited partnerships. As of March 31, 2014 and 2013, total partnership management fees accrued were $18,154,145 and $23,197,360, respectively.

An affiliate of the general partner of the Partnership advanced funds to pay some operating expenses of the Partnership, and to make advances and/or loans to Operating Partnerships. These advances are included in accounts payable-affiliates. During the years ended March 31, 2014 and 2013 there were no advances. The total advances from the affiliate of the general partner to the Operating Partnerships as of March 31, 2014 and 2013 are as follows:

	2014		2013
Series 15	$	-	$	-
Series 16		-		-
Series 17		635,362		635,362
Series 18		-		-
Series 19		-		-
	$	635,362	$	635,362

All payables to affiliates will be paid, without interest, from available cash flow or the proceeds of sales or refinancing of the Partnership's interests in Operating Partnerships.

General and administrative expenses incurred by Boston Capital Partners, Inc., Boston Capital Holdings Limited Partnership and Boston Capital Asset Management Limited Partnership (BCAMLP) during the years ended March 31, 2014 and 2013 charged to each series’ operations are as follows:

	2014		2013
Series 15	$	15,399	$	21,065
Series 16		17,856		24,361
Series 17		15,785		23,229
Series 18		14,028		19,440
Series 19		13,719		19,344
	$	76,787	$	107,439

Accounts payable - affiliates at March 31, 2014 and 2013 represents fund management fees and operating limited partnership advances which are payable to Boston Capital Asset Management Limited Partnership.