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Investments in Local Limited Partnerships (Tables)
 3 Months Ended
Jun. 30, 2012
Equity Method Investments and Joint Ventures [Abstract]  
Schedule Of Local Limited Partnership Investments [Table Text Block]

The following is a summary of investments in Local Limited Partnerships at June 30, 2012 and March 31, 2012:

 

 

 

  June 30

 

 

   March 31

 

 

 

 

 

 

 

 

Capital contributions and advances paid to Local Limited Partnerships

 

$

11,020,784

 

 

$

15,943,196

 

 

 

 

 

 

 

 

 

 

Cumulative equity in losses of Local Limited Partnerships (excluding

 

 

 

 

 

 

 

 

    cumulative unrecognized losses of $3,348,106 and $3,202,928 at

 

 

 

 

 

 

 

 

    June 30 and March 31, 2012, respectively)

 

 

(8,921,460

)

 

 

(8,813,573

)

 

 

 

 

 

 

 

 

 

Cumulative cash distributions received from Local Limited Partnerships

 

 

(46,448

)

 

 

(480,795

)

 

 

 

 

 

 

 

 

 

Investments in Local Limited Partnerships before adjustments

 

 

2,052,876

 

 

 

6,648,828

 

 

 

 

 

 

 

 

 

 

Excess investment costs over the underlying assets acquired:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Acquisition fees and expenses

 

 

558,742

 

 

 

619,931

 

 

 

 

 

 

 

 

 

 

Cumulative amortization of acquisition fees and expenses

 

 

(159,163

)

 

 

(187,865

)

 

 

 

 

 

 

 

 

 

Investments in Local Limited Partnerships before valuation allowance

    and impairment

 

 

 2,452,455

 

 

 

 7,080,894

 

 

 

 

 

 

 

 

 

 

Cumulative valuation allowance on advances to Local Limited

 

 

 

 

 

 

 

 

    Partnerships

 

 

(1,417,455

)

 

 

(1,417,455

)

 

 

 

 

 

 

 

 

 

Cumulative impairment on investments in Local Limited Partnerships

 

 

(1,035,000

)

 

 

(3,663,000

)

 

 

 

 

 

 

 

 

 

Investments in Local Limited Partnerships

 

$

 -

 

 

$

2,000,439