Investments in Local Limited Partnerships (Tables)

6 Months Ended

Sep. 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 September 30, 2012 and March 31, 2012:

	September 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 $3,478,376 and $3,202,928 at
September 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