10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE
ACT OF 1934.

For the quarterly period ended June 30, 2023

or

☐   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______ to _______

Commission file number        0-26200

BF GARDEN TAX CREDIT FUND IV L.P.

(Exact name of registrant as specified in its charter)

Delaware	04-3208648
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

101 Arch Street, 13^th Floor Boston, Massachusetts 02110

(Address of principal executive offices)    (Zip Code)

(888) 773-1487

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
None	None	None

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐	Accelerated Filer ☐
Non-accelerated filer ☒	Smaller Reporting Company ☒
	Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☒

BF GARDEN TAX CREDIT FUND IV L.P.

QUARTERLY REPORT ON FORM 10-Q

FOR THE QUARTER ENDED JUNE 30, 2023

TABLE OF CONTENTS

		Pages
PART I FINANCIAL INFORMATION
	Item 1. Condensed Financial Statements
	Condensed Balance Sheets	3-30
	Condensed Statements of Operations	31-58
	Condensed Statements of Changes in Partners’ Capital (Deficit)	59-86
	Condensed Statements of Cash Flows	87-114
	Notes to Condensed Financial Statements	115-148
	Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	149-158
	Item 3. Quantitative and Qualitative Disclosures About Market Risk	158
	Item 4. Controls and Procedures	158
PART II OTHER INFORMATION
	Item 1. Legal Proceedings	160
	Item 1A. Risk Factors	160
	Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	160
	Item 3. Defaults Upon Senior Securities	160
	Item 4. Mine Safety Disclosures	160
	Item 5. Other Information	160
	Item 6. Exhibits	160
	Signatures	161

2

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		470,472		508,245
Other assets		3,220		5,911
	$	473,692	$	514,156
LIABILITIES
Accounts payable and accrued expenses	$	1	$	1
Accounts payable affiliates (Note C)		3,328,959		7,035,500
Capital contributions payable		—		785
		3,328,960		7,036,286
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 83,651,080 issued and 82,874,653 outstanding as of June 30, 2023 and March 31, 2023.		(6,496,538)		(7,446,921)
General Partner		3,641,270		924,791
		(2,855,268)		(6,522,130)
	$	473,692	$	514,156

The accompanying notes are an integral part of this condensed statement

3

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 20

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,866,700 issued and 3,828,200 outstanding as of June 30, 2023 and March 31, 2023.		(754,767)		(754,767)
General Partner		754,767		754,767
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

4

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 21

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 1,892,700 issued and 1,879,500 outstanding as of June 30, 2023 and March 31, 2023.		(898,231)		(898,231)
General Partner		898,231		898,231
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

5

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 22

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,564,400 issued and 2,550,145 outstanding as of June 30, 2023 and March 31, 2023.		(2,448,362)		(2,448,362)
General Partner		2,448,362		2,448,362
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

6

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 23

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,336,727 issued and 3,303,327 outstanding as of June 30, 2023 and March 31, 2023.		(224,264)		(224,264)
General Partner		224,264		224,264
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

7

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 24

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,169,878 issued and 2,150,053 outstanding as of June 30, 2023 and March 31, 2023.		173,404		173,404
General Partner		(173,404)		(173,404)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

8

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 25

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,026,109 issued and 3,016,809 outstanding as of June 30, 2023 and March 31, 2023.		219,815		219,815
General Partner		(219,815)		(219,815)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

9

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 26

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,995,900 issued and 3,926,374 outstanding as of June 30, 2023 and March 31, 2023.		313,969		313,969
General Partner		(313,969)		(313,969)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

10

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 27

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,460,700 issued and 2,431,350 outstanding as of June 30, 2023 and March 31, 2023.		133,264		133,264
General Partner		(133,264)		(133,264)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

11

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 28

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 4,000,738 issued and 3,979,139 outstanding as of June 30, 2023 and March 31, 2023.		275,140		275,140
General Partner		(275,140)		(275,140)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

12

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 29

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		47,146
Other assets		—		2,582
	$	—	$	49,728
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		3,113,302
Capital contributions payable		—		785
		—		3,114,087
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,991,800 issued and 3,911,725 outstanding as of June 30, 2023 and March 31, 2023.		(2,341,163)		(2,695,068)
General Partner		2,341,163		(369,291)
		—		(3,064,359)
	$	—	$	49,728

The accompanying notes are an integral part of this condensed statement

13

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 30

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,651,000 issued and 2,621,200 outstanding as of June 30, 2023 and March 31, 2023.		(883,119)		(883,119)
General Partner		883,119		883,119
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

14

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 31

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 4,417,857 issued and 4,375,757 outstanding as of June 30, 2023 and March 31, 2023.		353,529		353,529
General Partner		(353,529)		(353,529)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

15

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 32

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 4,754,198 issued and 4,706,298 outstanding as of June 30, 2023 and March 31, 2023.		380,821		380,821
General Partner		(380,821)		(380,821)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

16

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 33

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,636,533 issued and 2,605,833 outstanding as of June 30, 2023 and March 31, 2023.		196,294		196,294
General Partner		(196,294)		(196,294)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

17

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 34

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		25,145		31,891
Other assets		55		82
	$	25,200	$	31,973
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		2,511,383		2,506,760
Capital contributions payable		—		—
		2,511,383		2,506,760
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,529,319 issued and 3,474,319 outstanding as of June 30, 2023 and March 31, 2023.		(2,160,932)		(2,149,650)
General Partner		(325,251)		(325,137)
		(2,486,183)		(2,474,787)
	$	25,200	$	31,973

The accompanying notes are an integral part of this condensed statement

18

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 35

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,300,463 issued and 3,277,913 outstanding as of June 30, 2023 and March 31, 2023.		223,088		223,088
General Partner		(223,088)		(223,088)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

19

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 36

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,106,838 issued and 2,083,704 outstanding as of June 30, 2023 and March 31, 2023.		148,221		148,221
General Partner		(148,221)		(148,221)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

20

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 37

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,512,500 issued and 2,489,100 outstanding as of June 30, 2023 and March 31, 2023.		205,359		205,359
General Partner		(205,359)		(205,359)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

21

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 38

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,543,100 issued and 2,536,200 outstanding as of June 30, 2023 and March 31, 2022.		188,889		188,889
General Partner		(188,889)		(188,889)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

22

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 39

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,292,151 issued and 2,288,351 outstanding as of June 30, 2023 and March 31, 2023.		196,043		196,043
General Partner		(196,043)		(196,043)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

23

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 40

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,630,256 issued and 2,611,356 outstanding as of June 30, 2023 and March 31, 2023.		216,900		216,900
General Partner		(216,900)		(216,900)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

24

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 41

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,891,626 issued and 2,865,176 outstanding as of June 30, 2023 and March 31, 2023.		(987,713)		(987,713)
General Partner		987,713		987,713
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

25

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 42

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,744,262 issued and 2,706,362 outstanding as of June 30, 2023 and March 31, 2023.		216,680		216,680
General Partner		(216,680)		(216,680)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

26

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 43

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,637,987 issued and 3,617,987 outstanding as of June 30, 2023 and March 31, 2023.		306,854		306,854
General Partner		(306,854)		(306,854)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

27

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 44

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,701,973 issued and 2,682,873 outstanding as of June 30, 2023 and March 31, 2023.		207,874		207,874
General Partner		(207,874)		(207,874)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

28

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 45

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		—		—
Other assets		—		—
	$	—	$	—
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		—		—
Capital contributions payable		—		—
		—		—
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 4,014,367 issued and 3,989,967 outstanding as of June 30, 2023 and March 31, 2023.		348,522		348,522
General Partner		(348,522)		(348,522)
		—		—
	$	—	$	—

The accompanying notes are an integral part of this condensed statement

29

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 46

	June 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		445,327		429,208
Other assets		3,165		3,247
	$	448,492	$	432,455
LIABILITIES
Accounts payable and accrued expenses	$	1	$	1
Accounts payable affiliates (Note C)		817,576		1,415,438
Capital contributions payable		—		—
		817,577		1,415,439
PARTNERS’ CAPITAL (DEFICIT)
Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,980,998 issued and 2,965,635 outstanding as of June 30, 2023 and March 31, 2023.		(102,653)		(710,413)
General Partner		(266,432)		(272,571)
		(369,085)		(982,984)
	$	448,492	$	432,455

The accompanying notes are an integral part of this condensed statement

30

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

	2023		2022
Income
Interest income	$	3,250	$	729
Other income		49,860		142,163
		53,110		142,892
Gain on disposition of Operating Partnerships		1,017,868		3,230,668
Expenses
Professional fees		1,429		1,492
Fund management fee, net (Note C)		1,623		5,751
General and administrative expenses		107,943		122,591
		110,995		129,834
NET INCOME (LOSS)	$	959,983	$	3,243,726
Net income (loss) allocated to assignees	$	950,383	$	3,211,289
Net income (loss) allocated to general partner	$	9,600	$	32,437
Net income (loss) per BAC	$	.01	$	.04

The accompanying notes are an integral part of this condensed statement

31

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 20

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

32

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 21

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

33

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 22

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

34

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 23

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

35

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 24

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

36

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 25

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

37

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 26

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

38

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 27

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

39

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 28

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

40

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 29

	2023		2022
Income
Interest income	$	459	$	23
Other income		16,876		—
		17,335		23
Gain on disposition of Operating Partnerships		430,628		—
Expenses
Professional fees		310		299
Fund management fee, net (Note C)		—		1,128
General and administrative expenses		90,173		14,635
		90,483		16,062
NET INCOME (LOSS)	$	357,480	$	(16,039)
Net income (loss) allocated to assignees	$	353,905	$	(15,879)
Net income (loss) allocated to general partner	$	3,575	$	(160)
Net income (loss) per BAC	$	.09	$	(.00)

The accompanying notes are an integral part of this condensed statement

41

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 30

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

42

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 31

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

43

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 32

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

44

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 33

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

45

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 34

	2023		2022
Income
Interest income	$	134	$	17
Other income		—		—
		134		17
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		809		299
Fund management fee, net (Note C)		1,623		4,623
General and administrative expenses		9,098		11,425
		11,530		16,347
NET INCOME (LOSS)	$	(11,396)	$	(16,330)
Net income (loss) allocated to assignees	$	(11,282)	$	(16,167)
Net income (loss) allocated to general partner	$	(114)	$	(163)
Net income (loss) per BAC	$	(.00)	$	(.00)

The accompanying notes are an integral part of this condensed statement

46

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 35

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

47

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 36

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

48

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 37

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

49

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 38

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

50

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 39

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

51

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 40

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

52

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 41

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

53

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 42

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

54

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 43

	2023		2022
Income
Interest income	$	—	$	—
Other income		—		—
		—		—
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		—
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to assignees	$	—	$	—
Net income (loss) allocated to general partner	$	—	$	—
Net income (loss) per BAC	$	—	$	—

The accompanying notes are an integral part of this condensed statement

55

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 44

	2023		2022
Income
Interest income	$	—	$	437
Other income		—		81,588
		—		82,025
Gain on disposition of Operating Partnerships		—		1,746,178
Expenses
Professional fees		—		298
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		72,685
		—		72,983
NET INCOME (LOSS)	$	—	$	1,755,220
Net income (loss) allocated to assignees	$	—	$	1,737,668
Net income (loss) allocated to general partner	$	—	$	17,552
Net income (loss) per BAC	$	—	$	.65

The accompanying notes are an integral part of this condensed statement

56

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 45

	2023		2022
Income
Interest income	$	—	$	144
Other income		—		58,183
		—		58,327
Gain on disposition of Operating Partnerships		—		1,405,869
Expenses
Professional fees		—		298
Fund management fee, net (Note C)		—		—
General and administrative expenses		—		12,949
		—		13,247
NET INCOME (LOSS)	$	—	$	1,450,949
Net income (loss) allocated to assignees	$	—	$	1,436,440
Net income (loss) allocated to general partner	$	—	$	14,509
Net income (loss) per BAC	$	—	$	.36

The accompanying notes are an integral part of this condensed statement

57

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended June 30,

(Unaudited)

Series 46

	2023		2022
Income
Interest income	$	2,657	$	108
Other income		32,984		2,392
		35,641		2,500
Gain (Loss) on disposition of Operating Partnerships		587,240		78,621
Expenses
Professional fees		310		298
Fund management fee, net (Note C)		—		—
General and administrative expenses		8,672		10,897
		8,982		11,195
NET INCOME (LOSS)	$	613,899	$	69,926
Net income (loss) allocated to assignees	$	607,760	$	69,227
Net income (loss) allocated to general partner	$	6,139	$	699
Net income (loss) per BAC	$	.20	$	.02

The accompanying notes are an integral part of this condensed statement

58

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	(7,446,921)	$	924,791	$	(6,522,130)
Contribution		—		2,706,879		2,706,879
Net income (loss)		950,383		9,600		959,983
Partners’ capital (deficit), June 30, 2023	$	(6,496,538)	$	3,641,270	$	(2,855,268)

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	(7,296,726)	$	891,243	$	(6,405,483)
Distribution		(2,957,455)		—		(2,957,455)
Net income (loss)		3,211,289		32,437		3,243,726
Partners’ capital (deficit), June 30, 2022	$	(7,042,892)	$	923,680	$	(6,119,212)

The accompanying notes are an integral part of this condensed statement

59

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 20

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	(754,767)	$	754,767	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	(754,767)	$	754,767	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	(754,767)	$	754,767	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	(754,767)	$	754,767	$	—

The accompanying notes are an integral part of this condensed statement

60

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 21

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	(898,231)	$	898,231	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	(898,231)	$	898,231	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	(898,231)	$	898,231	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	(898,231)	$	898,231	$	—

The accompanying notes are an integral part of this condensed statement

61

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 22

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	(2,448,362)	$	2,448,362	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	(2,448,362)	$	2,448,362	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	(2,448,362)	$	2,448,362	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	(2,448,362)	$	2,448,362	$	—

The accompanying notes are an integral part of this condensed statement

62

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 23

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	(224,264)	$	224,264	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	(224,264)	$	224,264	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	(224,264)	$	224,264	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	(224,264)	$	224,264	$	—

The accompanying notes are an integral part of this condensed statement

63

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 24

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	173,404	$	(173,404)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	173,404	$	(173,404)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	173,404	$	(173,404)	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	173,404	$	(173,404)	$	—

The accompanying notes are an integral part of this condensed statement

64

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 25

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	219,815	$	(219,815)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	219,815	$	(219,815)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	219,815	$	(219,815)	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	219,815	$	(219,815)	$	—

The accompanying notes are an integral part of this condensed statement

65

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 26

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	313,969	$	(313,969)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	313,969	$	(313,969)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	313,969	$	(313,969)	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	313,969	$	(313,969)	$	—

The accompanying notes are an integral part of this condensed statement

66

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 27

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	133,264	$	(133,264)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	133,264	$	(133,264)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	133,264	$	(133,264)	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	133,264	$	(133,264)	$	—

The accompanying notes are an integral part of this condensed statement

67

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 28

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	275,140	$	(275,140)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	275,140	$	(275,140)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	275,140	$	(275,140)	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	275,140	$	(275,140)	$	—

The accompanying notes are an integral part of this condensed statement

68

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 29

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	(2,695,068)	$	(369,291)	$	(3,064,359)
Contribution		—		2,706,879		2,706,879
Net income (loss)		353,905		3,575		357,480
Partners’ capital (deficit), June 30, 2023	$	(2,341,163)	$	2,341,163	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	(2,629,677)	$	(368,630)	$	(2,998,307)
Distribution		—		—		—
Net income (loss)		(15,879)		(160)		(16,039)
Partners’ capital (deficit), June 30, 2022	$	(2,645,556)	$	(368,790)	$	(3,014,346)

The accompanying notes are an integral part of this condensed statement

69

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 30

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	(883,119)	$	883,119	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	(883,119)	$	883,119	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	(883,119)	$	883,119	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	(883,119)	$	883,119	$	—

The accompanying notes are an integral part of this condensed statement

70

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 31

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	353,529	$	(353,529)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	353,529	$	(353,529)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	353,529	$	(353,529)	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	353,529	$	(353,529)	$	—

The accompanying notes are an integral part of this condensed statement

71

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 32

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	380,821	$	(380,821)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	380,821	$	(380,821)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	380,821	$	(380,821)	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	380,821	$	(380,821)	$	—

The accompanying notes are an integral part of this condensed statement

72

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 33

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	196,294	$	(196,294)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	196,294	$	(196,294)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	196,294	$	(196,294)	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	196,294	$	(196,294)	$	—

The accompanying notes are an integral part of this condensed statement

73

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 34

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	(2,149,650)	$	(325,137)	$	(2,474,787)
Contribution		—		—		—
Net income (loss)		(11,282)		(114)		(11,396)
Partners’ capital (deficit), June 30, 2023	$	(2,160,932)	$	(325,251)	$	(2,486,183)

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	(2,082,108)	$	(324,455)	$	(2,406,563)
Distribution		—		—		—
Net income (loss)		(16,167)		(163)		(16,330)
Partners’ capital (deficit), June 30, 2022	$	(2,098,275)	$	(324,618)	$	(2,422,893)

The accompanying notes are an integral part of this condensed statement

74

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 35

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	223,088	$	(223,088)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	223,088	$	(223,088)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	223,088	$	(223,088)	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	223,088	$	(223,088)	$	—

The accompanying notes are an integral part of this condensed statement

75

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 36

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	148,221	$	(148,221)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	148,221	$	(148,221)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	148,221	$	(148,221)	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	148,221	$	(148,221)	$	—

The accompanying notes are an integral part of this condensed statement

76

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 37

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	205,359	$	(205,359)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	205,359	$	(205,359)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	205,359	$	(205,359)	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	205,359	$	(205,359)	$	—

The accompanying notes are an integral part of this condensed statement

77

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 38

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	188,889	$	(188,889)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	188,889	$	(188,889)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	188,889	$	(188,889)	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	188,889	$	(188,889)	$	—

The accompanying notes are an integral part of this condensed statement

78

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 39

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	196,043	$	(196,043)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	196,043	$	(196,043)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	196,043	$	(196,043)	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	196,043	$	(196,043)	$	—

The accompanying notes are an integral part of this condensed statement

79

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 40

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	216,900	$	(216,900)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	216,900	$	(216,900)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	216,900	$	(216,900)	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	216,900	$	(216,900)	$	—

The accompanying notes are an integral part of this condensed statement

80

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 41

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	(987,713)	$	987,713	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	(987,713)	$	987,713	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	(987,713)	$	987,713	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	(987,713)	$	987,713	$	—

The accompanying notes are an integral part of this condensed statement

81

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 42

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	216,680	$	(216,680)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit),June 30, 2023	$	216,680	$	(216,680)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	216,680	$	(216,680)	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	216,680	$	(216,680)	$	—

The accompanying notes are an integral part of this condensed statement

82

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 43

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	306,854	$	(306,854)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	306,854	$	(306,854)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	306,854	$	(306,854)	$	—
Distribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2022	$	306,854	$	(306,854)	$	—

The accompanying notes are an integral part of this condensed statement

83

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 44

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	207,874	$	(207,874)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	207,874	$	(207,874)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	1,427,661	$	(255,426)	$	1,202,235
Distribution		(2,957,455)		—		(2,957,455)
Net income (loss)		1,737,668		17,552		1,755,220
Partners’ capital (deficit), June 30, 2022	$	207,874	$	(207,874)	$	—

The accompanying notes are an integral part of this condensed statement

84

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 45

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	348,522	$	(348,522)	$	—
Contribution		—		—		—
Net income (loss)		—		—		—
Partners’ capital (deficit), June 30, 2023	$	348,522	$	(348,522)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	(488,806)	$	(362,172)	$	(850,978)
Distribution		—		—		—
Net income (loss)		1,436,440		14,509		1,450,949
Partners’ capital (deficit), June 30, 2022	$	947,634	$	(347,663)	$	599,971

The accompanying notes are an integral part of this condensed statement

85

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Three Months Ended June 30, 2023 and 2022

(Unaudited)

Series 46

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2023	$	(710,413)	$	(272,571)	$	(982,984)
Contribution		—		—		—
Net income (loss)		607,760		6,139		613,899
Partners’ capital (deficit), June 30, 2023	$	(102,653)	$	(266,432)	$	(369,085)

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	(1,075,610)	$	(276,260)	$	(1,351,870)
Distribution		—		—		—
Net income (loss)		69,227		699		69,926
Partners’ capital (deficit), June 30, 2022	$	(1,006,383)	$	(275,561)	$	(1,281,944)

The accompanying notes are an integral part of this condensed statement

86

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	959,983	$	3,243,726
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		(1,017,868)		(3,230,668)
Changes in assets and liabilities
(Increase) Decrease in other assets		2,691		(450)
(Decrease) Increase in accounts payable and accrued expenses		—		1
(Decrease) Increase in accounts payable affiliates		(999,662)		(1,447,179)
Net cash (used in) provided by operating activities		(1,054,856)		(1,434,570)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		1,017,083		3,230,668
Net cash provided by investing activities		1,017,083		3,230,668
Cash flows from financing activities:
Distributions		—		(2,957,455)
Net cash used in financing activities		—		(2,957,455)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(37,773)		(1,161,357)
Cash and cash equivalents, beginning		508,245		2,370,898
Cash and cash equivalents, ending	$	470,472	$	1,209,541
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	2,706,879	$	—

The accompanying notes are an integral part of this condensed statement

87

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 20

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

88

BF Garden Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 21

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

89

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 22

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

90

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 23

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

91

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 24

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

92

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 25

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

93

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 26

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

94

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 27

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

95

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 28

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

96

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 29

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	357,480	$	(16,039)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		(430,628)		—
Changes in assets and liabilities
(Increase) Decrease in other assets		2,582		(56)
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		(406,423)		1,128
Net cash (used in) provided by operating activities		(476,989)		(14,967)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		429,843		—
Net cash provided by investing activities		429,843		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(47,146)		(14,967)
Cash and cash equivalents, beginning		47,146		108,768
Cash and cash equivalents, ending	$	—	$	93,801
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	2,706,879	$	—

The accompanying notes are an integral part of this condensed statement

97

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 30

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

98

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 31

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

99

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 32

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

100

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 33

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

101

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 34

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	(11,396)	$	(16,330)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		27		(56)
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		4,623		4,623
Net cash (used in) provided by operating activities		(6,746)		(11,763)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(6,746)		(11,763)
Cash and cash equivalents, beginning		31,891		81,705
Cash and cash equivalents, ending	$	25,145	$	69,942
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

102

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 35

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

103

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 36

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

104

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 37

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

105

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 38

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

106

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 39

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

107

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 40

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

108

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 41

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

109

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 42

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

110

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 43

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	—
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		—
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		—
Net cash (used in) provided by operating activities		—		—
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		—
Cash and cash equivalents, beginning		—		—
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

111

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 44

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	1,755,220
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		(1,746,178)
Changes in assets and liabilities
(Increase) Decrease in other assets		—		—
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		(28,269)
Net cash (used in) provided by operating activities		—		(19,227)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		1,746,178
Net cash provided by investing activities		—		1,746,178
Cash flows from financing activities:
Distributions		—		(2,957,455)
Net cash used in financing activities		—		(2,957,455)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		(1,230,504)
Cash and cash equivalents, beginning		—		1,230,504
Cash and cash equivalents, ending	$	—	$	—
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

112

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 45

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	1,450,949
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		(1,405,869)
Changes in assets and liabilities
(Increase) Decrease in other assets		—		(113)
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		(1,134,074)
Net cash (used in) provided by operating activities		—		(1,089,107)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		1,405,869
Net cash provided by investing activities		—		1,405,869
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		316,762
Cash and cash equivalents, beginning		—		287,530
Cash and cash equivalents, ending	$	—	$	604,292
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

113

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Three Months Ended June 30,

(Unaudited)

Series 46

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	613,899	$	69,926
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		(587,240)		(78,621)
Changes in assets and liabilities
(Increase) Decrease in other assets		82		(225)
(Decrease) Increase in accounts payable and accrued expenses		—		1
(Decrease) Increase in accounts payable affiliates		(597,862)		(290,587)
Net cash (used in) provided by operating activities		(571,121)		(299,506)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		587,240		78,621
Net cash provided by investing activities		587,240		78,621
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		16,119		(220,885)
Cash and cash equivalents, beginning		429,208		662,391
Cash and cash equivalents, ending	$	445,327	$	441,506
Supplemental schedule of noncash investing and financing activities
The general partner’s equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	—	$	—

The accompanying notes are an integral part of this condensed statement

114

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS

June 30, 2023

(Unaudited)

NOTE A – ORGANIZATION

BF Garden Tax Credit Fund IV L.P. (formerly known as Boston Capital Tax Credit Fund IV L.P.) (the “Fund”) was organized under the laws of the State of Delaware as of October 5, 1993, for the purpose of acquiring, holding, and disposing of limited partnership interests in operating partnerships which will acquire, develop, rehabilitate, operate and own newly constructed, existing or rehabilitated low-income apartment complexes (“Operating Partnerships”). Effective as of December 15, 2020, Corporate Investment Holdings, Inc., a Massachusetts corporation owned by BF Garden Companion Limited Partnership, a Massachusetts limited partnership formerly known as Boston Capital Companion Limited Partnership (“Companion”), replaced BCA Associates Limited Partnership as the general partner of the Fund’s general partner, BF Garden Associates IV L.P., a Delaware limited partnership formerly known as Boston Capital Associates IV L.P. Additionally, Companion replaced Capital Investment Holdings IV Limited Partnership as the sole limited partner of the Fund’s general partner. Also effective as of December 15, 2020, BFBC Holdings GP, LLC, a Delaware limited liability company and an affiliate of Boston Financial Investment Management, LP, a Delaware limited partnership (“BFIM”), replaced Boston Capital Partners II Corporation as the general partner of Companion; and BFIM replaced Boston Capital Companion Holdings Limited Partnership as the sole limited partner of Companion. The assignor limited partner of the Fund continues to be BCTC IV Assignor Corp., a Delaware corporation which is now wholly owned by Companion.

Pursuant to the Securities Act of 1933, the Fund filed a Form S-11 Registration Statement with the Securities and Exchange Commission, effective December 16, 1993, which covered the offering (the “Public Offering”) of the Fund’s beneficial assignee certificates (“BACs”) representing assignments of units of the beneficial interest of the limited partnership interest of the assignor limited partner. The Fund registered 30,000,000 BACs at $10 per BAC for sale to the public in one or more series. On April 18, 1996, an amendment to Form S-11 which registered an additional 10,000,000 BACs for sale to the public in one or more series became effective. On April 2, 1998, an amendment to Form S-11, which registered an additional 25,000,000 BACs for sale to the public in one or more series, became effective. On August 31, 1999, an amendment to Form S-11, which registered an additional 8,000,000 BACs for sale to the public in one or more series, became effective. On July 26, 2000, an amendment to Form S-11, which registered an additional 7,500,000 BACs for sale to the public in one or more series, became effective. On July 24, 2001, an amendment to Form S-11, which registered an additional 7,000,000 BACs for sale to the public in one or more series, became effective. On July 24, 2002, an amendment to Form S-11, which registered an additional 7,000,000 BACs for sale to the public, became effective. On July 1, 2003, an amendment to Form S-11, which registered an additional 7,000,000 BACs for sale to the public, became effective.

115

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE A – ORGANIZATION (continued)

Below is a summary of the BACs sold and total equity raised, by series, as of the date of this filing:

Series	Closing Date	BACs Sold	Equity Raised
Series 20	June 24, 1994	3,866,700	$	38,667,000
Series 21	December 31, 1994	1,892,700	$	18,927,000
Series 22	December 28, 1994	2,564,400	$	25,644,000
Series 23	June 23, 1995	3,336,727	$	33,366,000
Series 24	September 22, 1995	2,169,878	$	21,697,000
Series 25	December 29, 1995	3,026,109	$	30,248,000
Series 26	June 25, 1996	3,995,900	$	39,959,000
Series 27	September 17, 1996	2,460,700	$	24,607,000
Series 28	January 29, 1997	4,000,738	$	39,999,000
Series 29	June 10, 1997	3,991,800	$	39,918,000
Series 30	September 10, 1997	2,651,000	$	26,490,750
Series 31	January 18, 1998	4,417,857	$	44,057,750
Series 32	June 23, 1998	4,754,198	$	47,431,000
Series 33	September 21, 1998	2,636,533	$	26,362,000
Series 34	February 11, 1999	3,529,319	$	35,273,000
Series 35	June 28, 1999	3,300,463	$	33,004,630
Series 36	September 28, 1999	2,106,838	$	21,068,375
Series 37	January 28, 2000	2,512,500	$	25,125,000
Series 38	July 31, 2000	2,543,100	$	25,431,000
Series 39	January 31, 2001	2,292,151	$	22,921,000
Series 40	July 31, 2001	2,630,256	$	26,269,256
Series 41	January 31, 2002	2,891,626	$	28,916,260
Series 42	July 31, 2002	2,744,262	$	27,442,620
Series 43	December 31, 2002	3,637,987	$	36,379,870
Series 44	April 30, 2003	2,701,973	$	27,019,730
Series 45	September 16, 2003	4,014,367	$	40,143,670
Series 46	December 19, 2003	2,980,998	$	29,809,980

The Fund concluded its public offering of BACs in the Fund on December 19, 2003.

NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES

The condensed financial statements herein as of June 30, 2023 and for the three months then ended have been prepared by the Fund, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. The Fund accounts for its investments in Operating Partnerships using the equity method, whereby the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. Costs incurred by the Fund in acquiring the investments in the Operating Partnerships are capitalized to the investment account.

The Fund’s accounting and financial reporting policies are in conformity with generally accepted accounting principles and include adjustments in interim periods considered necessary for a fair presentation of the results of operations. Such adjustments are of a normal recurring nature. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to these rules and regulations. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Fund’s Annual Report on Form 10-K for the fiscal year ended March 31, 2023.

116

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE C - RELATED PARTY TRANSACTIONS

The Fund originally incurred a fund management fee to Boston Capital Asset Management Limited Partnership, an affiliate of the general partner, prior to the sale as disclosed in Note A. As part of the sale disclosed in Note A, the fund management fee is now assigned to BF Garden Companion Limited Partnership, a Massachusetts limited partnership formerly known as Boston Capital Companion Limited Partnership (“Companion”) and an affiliate of the general partner, in an annual fund management fee of .5 percent of the aggregate cost of all apartment complexes owned by the Operating Partnerships. The obligation that had been accrued to Boston Capital Asset Management Limited Partnership was transferred to Companion as disclosed in Note A. Since reporting fees collected by the various series were added to reserves and not paid, the amounts accrued are not net of reporting fees received. The fund management fees accrued for the quarters ended June 30, 2023 and 2022, are as follows:

	2023		2022
Series 29	$	376	$	1,128
Series 34		4,623		4,623
Series 44		—		2,645
Series 45		—		8,729
Series 46		12,279		26,108
	$	17,278	$	43,233

The fund management fees paid for the three months ended June 30, 2023 and 2022 are as follows:

	2023		2022
Series 29	$	406,799	$	—
Series 44		—		30,914
Series 45		—		1,142,803
Series 46		610,141		316,695
	$	1,016,940	$	1,490,412

An affiliate of the general partner has forgiven asset management fees payable as a result of the sales of all operating limited partnerships in one of the series. Total forgiveness of debt for the quarters ended June 30, 2023 and 2022 was $2,706,879 and $-, respectively. Because the transaction involved an affiliate of the general partner, the transaction is accounted for as an equity transaction instead of income to the Fund.

117

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS

At June 30, 2023 and 2022, the Fund has limited partnership interests in 3 and 8 Operating Partnerships, respectively, which own or are constructing apartment complexes.

The breakdown of Operating Partnerships within the Fund at June 30, 2023 and 2022 are as follows:

	2023	2022
Series 20	—	—
Series 21	—	—
Series 22	—	—
Series 23	—	—
Series 24	—	—
Series 25	—	—
Series 26	—	—
Series 27	—	—
Series 28	—	—
Series 29	—	1
Series 30	—	—
Series 31	—	—
Series 32	—	—
Series 33	—	—
Series 34	1	1
Series 35	—	—
Series 36	—	—
Series 37	—	—
Series 38	—	—
Series 39	—	—
Series 40	—	—
Series 41	—	—
Series 42	—	—
Series 43	—	—
Series 44	—	—
Series 45	—	2
Series 46	2	4
	3	8

Under the terms of the Fund’s investment in each Operating Partnership, the Fund is required to make capital contributions to the Operating Partnerships. These contributions are payable in installments over several years upon each Operating Partnership achieving specified levels of construction and/or operations. The contributions payable at June 30, 2023 and 2022, are as follows:

	2023		2022
Series 29	$	—	$	785

118

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

During the three months ended June 30, 2023 the Fund disposed of two Operating Partnerships. A summary of the dispositions by series for June 30, 2023 is as follows:

	Operating	Sale of
	Partnership	Underlying	Fund Proceeds
	Interest	Operating	from		Gain on
	Transferred	Partnership	Disposition *		Disposition
Series 29	—	1	$	429,843	$	430,628
Series 46	—	1		587,240		587,240
Total	—	2	$	1,017,083	$	1,017,868

* Fund proceeds from disposition does not include $785, which was due to a write-off of capital contribution payable as of June 30, 2023, for Series 29.

During the three months ended June 30, 2022 the Fund disposed of six Operating Partnerships. A summary of the dispositions by series for June 30, 2022 is as follows:

	Operating	Sale of
	Partnership	Underlying	Fund Proceeds
	Interest	Operating	from		Gain on
	Transferred	Partnership	Disposition		Disposition
Series 44	—	1	$	1,746,178	$	1,746,178
Series 45	—	2		1,405,869		1,405,869
Series 46	3	—		78,621		78,621
Total	3	3	$	3,230,668	$	3,230,668

The gain described above is for financial statement purposes only. There are significant differences between the equity method of accounting and the tax reporting of income and losses from Operating Partnership investments. The largest difference is the ability, for tax purposes, to deduct losses in excess of the Fund’s investment in the Operating Partnership. As a result, the amount of gain recognized for tax purposes may be significantly higher than the gain recorded in the financial statements.

119

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

The Fund’s fiscal year ends March 31st for each year, while all the Operating Partnerships’ fiscal years are the calendar year. Pursuant to the provisions of each Operating Partnership’s partnership agreement, financial results for each of the Operating Partnerships are provided to the Fund within 45 days after the close of each Operating Partnership’s quarterly period. Accordingly, the current financial results available for the Operating Partnerships are for the three months ended March 31, 2023.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

	2023		2022
Revenues
Rental	$	376,586	$	691,106
Interest and other		7,980		20,331
		384,566		711,437
Expenses
Interest		38,914		102,253
Depreciation and amortization		77,668		198,607
Operating expenses		271,951		545,299
		388,533		846,159
NET INCOME (LOSS)	$	(3,967)	$	(134,722)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	(3,928)	$	(133,375)
Net income (loss) allocated to other Partners	$	(39)	$	(1,347)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

120

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 20

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

121

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 21

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

122

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 22

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

123

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 23

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

124

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 24

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

125

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 25

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

126

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 26

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

127

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 27

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

128

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 28

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

129

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 29

	2023		2022
Revenues
Rental	$	—	$	81,488
Interest and other		—		—
		—		81,488
Expenses
Interest		—		6,115
Depreciation and amortization		—		13,577
Operating expenses		—		79,766
		—		99,458
NET INCOME (LOSS)	$	—	$	(17,970)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	(17,790)
Net income (loss) allocated to other Partners	$	—	$	(180)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

130

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 30

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

131

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 31

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

132

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 32

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

133

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 33

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

134

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 34

	2023		2022
Revenues
Rental	$	156,690	$	148,515
Interest and other		5,987		8,977
		162,677		157,492
Expenses
Interest		20,966		21,476
Depreciation and amortization		22,107		21,644
Operating expenses		112,723		92,074
		155,796		135,194
NET INCOME (LOSS)	$	6,881	$	22,298
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	6,812	$	22,075
Net income (loss) allocated to other Partners	$	69	$	223

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

135

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 35

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

136

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 36

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

137

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 37

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

138

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 38

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

139

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 39

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

140

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 40

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

141

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 41

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

142

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 42

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

143

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 43

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

144

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 44

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

145

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 45

	2023		2022
Revenues
Rental	$	—	$	87,460
Interest and other		—		4,010
		—		91,470
Expenses
Interest		—		12,194
Depreciation and amortization		—		56,494
Operating expenses		—		96,431
		—		165,119
NET INCOME (LOSS)	$	—	$	(73,649)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	(72,913)
Net income (loss) allocated to other Partners	$	—	$	(736)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

146

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 46

	2023		2022
Revenues
Rental	$	219,896	$	373,643
Interest and other		1,993		7,344
		221,889		380,987
Expenses
Interest		17,948		62,468
Depreciation and amortization		55,561		106,892
Operating expenses		159,228		277,028
		232,737		446,388
NET INCOME (LOSS)	$	(10,848)	$	(65,401)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	(10,740)	$	(64,747)
Net income (loss) allocated to other Partners	$	(108)	$	(654)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE E - TAXABLE LOSS

The Fund’s taxable loss is expected to differ from its loss for financial reporting purposes. This is primarily due to accounting differences in depreciation incurred by the Operating Partnerships and also differences between the equity method of accounting and the IRS accounting methods.

NOTE F - INCOME TAXES

The Fund has elected to be treated as a pass-through entity for income tax purposes and, as such, is not subject to income taxes. Rather, all items of taxable income, deductions and tax credits are passed through to and are reported by its owners on their respective income tax returns. The Fund’s federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, the Fund is not required to take any tax positions in order to qualify as a pass-through entity. The Fund is required to file and does file tax returns with the Internal Revenue Service and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Fund has no other tax positions, which must be considered for disclosure. Income tax returns filed by the Fund are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2019 remain open.

147

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

June 30, 2023

(Unaudited)

NOTE G - SUBSEQUENT EVENTS

Events that occur after the balance sheet date but before the financial statements were available to be issued must be evaluated for recognition or disclosure. The effects of subsequent events that provide evidence about conditions that existed at the balance sheet date are recognized in the accompanying financial statements. Subsequent events, which provide evidence about conditions that existed after the balance sheet date, require disclosure in the accompanying notes. Management evaluated the activity of the Fund through the date the financial statements were issued, and concluded that, no subsequent events have occurred that would require recognition in the financial statements or disclosure in the notes to the financial statements.

148

Item 2.Management’s Discussions and Analysis of Financial Condition and Results of Operations

This Management’s Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements including our intentions, expectations, strategies and predictions of our future activities, or other future events or conditions. These statements are “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created by these acts. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including, for example, the factors identified in Part I, Item 1A. “Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended March 31, 2023. Although we believe that the assumptions underlying these forward-looking statements are reasonable, any of the assumptions could be inaccurate, and there can be no assurance that the forward-looking statements included in this Report will prove to be accurate. In light of the significant uncertainties inherent in these forward-looking statements, the inclusion of this information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. All forward-looking statements speak only as of the date of this Form 10-Q. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

BF Garden Tax Credit Fund IV L.P., a Delaware limited partnership formerly known as Boston Capital Tax Credit Fund IV L.P. (the “Fund”), was organized as of October 5, 1993 to invest as a limited partner in operating partnerships (the “Operating Partnerships”), each of which owns or leases and operates an apartment complex exclusively or partially for low- and moderate-income tenants. Effective as of December 15, 2020, Corporate Investment Holdings, Inc., a Massachusetts corporation owned by BF Garden Companion Limited Partnership, a Massachusetts limited partnership formerly known as Boston Capital Companion Limited Partnership (“Companion”), replaced BCA Associates Limited Partnership as the general partner of the Fund’s general partner, BF Garden Associates IV L.P., a Delaware limited partnership formerly known as Boston Capital Associates IV L.P. Additionally, Companion replaced Capital Investment Holdings IV Limited Partnership as the sole limited partner of the Fund’s General Partner. Also, effective as of December 15, 2020, BFBC Holdings GP, LLC, a Delaware limited liability company and an affiliate of Boston Financial Investment Management, LP, a Delaware limited partnership (“BFIM”), replaced Boston Capital Partners II Corporation as the general partner of Companion; and BFIM replaced Boston Capital Companion Holdings Limited Partnership as the sole limited partner of Companion. The assignor limited partner of the Fund continues to be BCTC IV Assignor Corp., a Delaware corporation which is now wholly owned by Companion.

Liquidity

The Fund’s former sources of funds were (i) the proceeds of the Offering, (ii) interest earned on capital contributions held pending investment and on working capital, and (iii) cash distributions from operations of the Operating Partnerships in which the Fund invested. The Fund’s current sources of liquidity include (i) interest on working capital and (ii) cash distributions from operations of the Operating Partnerships in which the Fund invested. The Fund does not anticipate significant cash distributions from operations of the Operating Partnerships.

The Fund is currently accruing the fund management fee. Fund management fees accrued during the quarter ended June 30, 2023 were $17,278 and total fund management fees accrued as of June 30, 2023 were $3,328,959. During the three months ended June 30, 2023, $1,016,940 of the accrued fund management fees were paid. Pursuant to the Fund’s partnership agreement, these liabilities will be deferred until the Fund receives proceeds from sales of the Operating Partnerships that will be used to satisfy these liabilities. The Fund’s working capital and sources of liquidity coupled with affiliated party liability accruals allow sufficient levels of liquidity to meet the third-party obligations of the Fund. The Fund is currently unaware of any trends that would create insufficient liquidity to meet future third party obligations of the Fund.

149

Capital Resources

The Fund offered beneficial assignee certificates (“BACs”) in the Public Offering declared effective by the Securities and Exchange Commission on December 16, 1993. The Fund received $38,667,000, $18,927,000, $25,644,000, $33,366,000, $21,697,000, $30,248,000, $39,959,000, $24,607,000, $39,999,000, $39,918,000, $26,490,750, $44,057,750, $47,431,000, $26,362,000, $35,273,000, $33,004,630, $21,068,375, $25,125,000, $25,431,000, $22,921,000, $26,629,250, $28,916,260, $27,442,620, $27,442,620, $36,379,870, $27,019,730, $40,143,670 and $29,809,980 representing 3,866,700, 1,892,700, 2,564,400, 3,336,727, 2,169,878, 3,026,109, 3,995,900, 2,460,700, 4,000,738, 3,991,800, 2,651,000, 4,417,857, 4,754,198, 2,636,533, 3,529,319, 3,300,463, 2,106,837, 2,512,500, 2,543,100, 2,292,152, 2,630,256, 2,891,626, 2,744,262, 3,637,987, 2,701,973, 4,014,367 and 2,980,998 BACs from investors admitted as BAC holders in Series 20, Series 21, Series 22, Series 23, Series 24, Series 25, Series 26, Series 27, Series 28, Series 29, Series 30, Series 31, Series 32, Series 33, Series 34, Series 35, Series 36, Series 37, Series 38, Series 39, Series 40, Series 41, Series 42, Series 43, Series 44, Series 45 and Series 46, respectively, as of June 30, 2023.

Series 20

The Fund commenced offering BACs in Series 20 on January 21, 1994. Offers and sales of BACs in Series 20 were completed on June 24, 1994. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 24 Operating Partnerships in the amount of $27,693,970. Series 20 has since sold its interest in all 24 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 20 had released all payments of its capital contributions to the Operating Partnerships.

Series 21

The Fund commenced offering BACs in Series 21 on July 5, 1994. Offers and sales of BACs in Series 21 were completed on September 30, 1994. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 14 Operating Partnerships in the amount of $13,872,728. Series 21 has since sold its interest in all 14 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 21 had released all payments of its capital contributions to the Operating Partnerships.

Series 22

The Fund commenced offering BACs in Series 22 on October 12, 1994. Offers and sales of BACs in Series 22 were completed on December 28, 1994. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 29 Operating Partnerships in the amount of $18,758,748. Series 22 has since sold its interest in all 29 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 22 had released all payments of its capital contributions to the Operating Partnerships.

Series 23

The Fund commenced offering BACs in Series 23 on January 10, 1995. Offers and sales of BACs in Series 23 were completed on June 23, 1995. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 22 Operating Partnerships in the amount of $24,352,278. Series 23 has since sold its interest in all 22 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 23 had released all payments of its capital contributions to the Operating Partnerships.

Series 24

The Fund commenced offering BACs in Series 24 on June 9, 1995. Offers and sales of BACs in Series 24 were completed on September 22, 1995. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 24 Operating Partnerships in the amount of $15,796,309. Series 24 has since sold its interest in all 24 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 24 had released all payments of its capital contributions to the Operating Partnerships.

150

Series 25

The Fund commenced offering BACs in Series 25 on September 30, 1995. Offers and sales of BACs in Series 25 were completed on December 29, 1995. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 22 Operating Partnerships in the amount of $22,324,539. Series 25 has since sold its interest in all 22 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 25 had released all payments of its capital contributions to the Operating Partnerships.

Series 26

The Fund commenced offering BACs in Series 26 on January 18, 1996. Offers and sales of BACs in Series 26 were completed on June 14, 1996. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 45 Operating Partnerships in the amount of $29,401,215. Series 26 has since sold its interest in all 45 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 26 had released all payments of its capital contributions to the Operating Partnerships.

Series 27

The Fund commenced offering BACs in Series 27 on June 17, 1996. Offers and sales of BACs in Series 27 were completed on September 27, 1996. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 16 Operating Partnerships in the amount of $17,881,574. Series 27 has since sold its interest in all 16 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 27 had released all payments of its capital contributions to the Operating Partnerships.

Series 28

The Fund commenced offering BACs in Series 28 on September 30, 1996. Offers and sales of BACs in Series 28 were completed on January 31, 1997. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 26 Operating Partnership in the amount of $29,281,983. Series 28 has since sold its interest in all 26 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 28 had released all payments of its capital contributions to the Operating Partnerships.

Series 29

The Fund commenced offering BACs in Series 29 on February 10, 1997. Offers and sales of BACs in Series 29 were completed on June 20, 1997. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 22 Operating Partnerships in the amount of $29,137,877. Series 29 has since sold its interest in all 22 of the Operating Partnerships.

As a result of the sale of all operating limited partnerships an affiliate of the general partner has forgiven asset management fees payable of the series. The total forgiveness of debt for the three months ended June 30, 2023 was $2,706,879 for Series 29. Because the transaction involved an affiliate of the general partner, the transaction is accounted for as an equity transaction instead of income to the Fund.

During the quarter ended June 30, 2023, Series 29 applied $785 of contributions payable to a current year disposition and has now released all payments of its capital contributions to the Operating Partnerships.

Series 30

The Fund commenced offering BACs in Series 30 on June 23, 1997. Offers and sales of BACs in Series 30 were completed on September 10, 1997. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 20 Operating Partnerships in the amount of $19,497,869. Series 30 has since sold its interest in all 20 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 30 had released all payments of its capital contributions to the Operating Partnerships.

151

Series 31

The Fund commenced offering BACs in Series 31 on September 11, 1997. Offers and sales of BACs in Series 31 were completed on January 18, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 27 Operating Partnerships in the amount of $32,569,100. Series 31 has since sold its interest in all 27 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 31 had released all payments of its capital contributions to the Operating Partnerships.

Series 32

The Fund commenced offering BACs in Series 32 on January 19, 1998. Offers and sales of BACs in Series 32 were completed on June 23, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 17 Operating Partnerships in the amount of $34,129,677. Series 32 has since sold its interest in all 17 of the Operating Partnerships and membership interests.

Prior to the quarter ended June 30, 2023, Series 32 had released all payments of its capital contributions to the Operating Partnerships.

Series 33

The Fund commenced offering BACs in Series 33 on June 22, 1998. Offers and sales of BACs in Series 33 were completed on September 21, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 10 Operating Partnerships in the amount of $19,594,100. Series 33 has since sold its interest in all 10 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 33 had released all payments of its capital contributions to the Operating Partnerships.

Series 34

The Fund commenced offering BACs in Series 34 on September 22, 1998. Offers and sales of BACs in Series 34 were completed on February 11, 1999. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 14 Operating Partnerships in the amount of $25,738,978. Series 34 has since sold its interest in 13 of the Operating Partnerships and 1 remains.

Prior to the quarter ended June 30, 2023, Series 34 had released all payments of its capital contributions to the Operating Partnerships.

Series 35

The Fund commenced offering BACs in Series 35 on February 22, 1999. Offers and sales of BACs in Series 35 were completed on June 28, 1999. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 11 Operating Partnerships in the amount of $24,002,391. Series 35 has since sold its interest in all 11 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 35 had released all payments of its capital contributions to the Operating Partnerships.

Series 36

The Fund commenced offering BACs in Series 36 on June 22, 1999. Offers and sales of BACs in Series 36 were completed on September 28, 1999. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 11 Operating Partnerships in the amount of $15,277,041. Series 36 has since sold its interest in all 11 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 36 had released all payments of its capital contributions to the Operating Partnerships.

152

Series 37

The Fund commenced offering BACs in Series 37 on October 29, 1999. Offers and sales of BACs in Series 37 were completed on January 28, 2000. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 7 Operating Partnerships in the amount of $18,735,142. Series 37 has since sold its interest in all 7 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 37 had released all payments of its capital contributions to the Operating Partnerships.

Series 38

The Fund commenced offering BACs in Series 38 on February 1, 2000. Offers and sales of BACs in Series 38 were completed on July 31, 2000. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 10 Operating Partnerships in the amount of $18,612,287. Series 38 has since sold its interest in all 10 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 38 had released all payments of its capital contributions to the Operating Partnerships, and the general partner interest of the other operating limited partnerships had been disposed.

Series 39

The Fund commenced offering BACs in Series 39 on August 1, 2000. Offers and sales of BACs in Series 39 were completed on January 31, 2001. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 9 Operating Partnerships in the amount of $17,115,492. Series 39 has since sold its interest in all 9 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 39 had released all payments of its capital contributions to the Operating Partnerships, and the general partner interest of the other operating limited partnerships had been disposed.

Series 40

The Fund commenced offering BACs in Series 40 on February 1, 2001. Offers and sales of BACs in Series 40 were completed on July 31, 2001. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 16 Operating Partnerships in the amount of $19,030,772. Series 40 has since sold its interest in all 16 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 40 had released all payments of its capital contributions to the Operating Partnerships, and the general partner interest of the other operating limited partnerships had been disposed.

Series 41

The Fund commenced offering BACs in Series 41 on August 1, 2001. Offers and sales of BACs in Series 41 were completed on January 31, 2002. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 23 Operating Partnerships in the amount of $21,278,631. Series 41 has since sold its interest in all 23 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 41 had released all payments of its capital contributions to the Operating Partnerships.

Series 42

The Fund commenced offering BACs in Series 42 on February 1, 2002. Offers and sales of BACs in Series 42 were completed on July 31, 2002. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 23 Operating Partnerships in the amount of $20,661,120. Series 42 has since sold its interest in all 23 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 42 had released all payments of its capital contributions to the Operating Partnerships.

153

Series 43

The Fund commenced offering BACs in Series 43 on August 1, 2002. Offers and sales of BCAs in Series 43 were completed in September 30, 2002. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 23 Operating Partnerships in the amount of $26,326,543. Series 43 has since sold its interest in all 23 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 43 had released all payments of its capital contributions to the Operating Partnerships, and the general partner interest of the other operating limited partnerships had been disposed.

Series 44

The Fund commenced offering BACs in Series 44 on January 14, 2003. Offers and sales of BACs in Series 44 were completed in April 30, 2003. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 10 Operating Partnerships in the amount of $20,248,519. Series 44 has since sold its interest in all 10 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 44 had released all payments of its capital contributions to the Operating Partnerships.

Series 45

The Fund commenced offering BACs in Series 45 on July 1, 2003. Offers and sales of BACs in Series 45 were completed on September 16, 2003. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 31 Operating Partnerships in the amount of $30,232,512. Series 45 has since sold its interest in all 31 of the Operating Partnerships.

Prior to the quarter ended June 30, 2023, Series 45 had released all payments of its capital contributions to the Operating Partnerships.

Series 46

The Fund commenced offering BACs in Series 46 on September 23, 2003. Offers and sales of BACs in Series 46 were completed on December 19, 2003. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 15 Operating Partnerships in the amount of $22,495,082. Series 46 has since sold its interest in 13 of the Operating Partnerships and 2 remain.

Prior to the quarter ended June 30, 2023, Series 46 had released all payments of its capital contributions to the Operating Partnerships.

Results of Operations

As of June 30, 2023 and 2022, the Fund held limited partnership interests in 3 and 8 Operating Partnerships, respectively. In each instance the apartment complex owned by the applicable Operating Partnership is eligible for the federal housing tax credit. Initial occupancy of a unit in each apartment complex which complied with the minimum set-aside test (i.e., initial occupancy by tenants with incomes equal to no more than a certain percentage of area median income) and the rent restriction test (i.e., gross rent charged tenants does not exceed 30% of the applicable income standards) is referred to as “Qualified Occupancy.” Each of the Operating Partnerships and each of the respective apartment complexes are described more fully in the Prospectus or applicable report on Form 8-K. The general partner of the Fund believes that there is adequate casualty insurance on the properties.

154

The Fund originally incurred a fund management fee to Boston Capital Asset Management Limited Partnership, formerly an affiliate of the Fund’s general partner. As part of the sale disclosed in Note A, the fund management fee is now with BF Garden Companion Limited Partnership (formerly known as Boston Capital Companion Limited Partnership), an affiliate of the Fund’s general partner, in an annual fund management fee of.5 percent of the aggregate cost of the apartment complexes owned by the Operating Partnerships, less the amount of certain asset management and reporting fees paid by the Operating Partnerships. The fund management fees incurred and the reporting fees paid by the Operating Partnerships for the three months ended June 30, 2023 are as follows:

					3 Months
	3 Months		3 Months		Fund Management Fee Net
	Gross Fund		Asset Management and		of Asset Management and
	Management Fee		Reporting Fee		Reporting Fee
Series 29	$	376	$	376	$	—
Series 34		4,623		3,000		1,623
Series 46		12,279		12,279		—
	$	17,278	$	15,655	$	1,623

The Fund’s investment objectives do not include receipt of significant cash distributions from the Operating Partnerships in which it has invested or intends to invest. The Fund’s investments in Operating Partnerships have been and will be made principally with a view towards realization of federal housing tax credits for allocation to its partners and BAC holders.

Series 20

The series did not have any properties as of June 30, 2023 and 2022.

Series 21

The series did not have any properties as of June 30, 2023 and 2022.

Series 22

The series did not have any properties as of June 30, 2023 and 2022.

Series 23

The series did not have any properties as of June 30, 2023 and 2022.

Series 24

The series did not have any properties as of June 30, 2023 and 2022.

Series 25

The series did not have any properties as of June 30, 2023 and 2022.

Series 26

The series did not have any properties as of June 30, 2023 and 2022.

Series 27

The series did not have any properties as of June 30, 2023 and 2022.

Series 28

The series did not have any properties as of June 30, 2023 and 2022.

155

Series 29

The series did not have any properties as of June 30, 2023.

For the three-month periods ended June 30, 2023 and 2022, Series 29 reflects a net loss from Operating Partnerships of $- and $(17,970), respectively, which includes depreciation and amortization of $- and $13,577, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In April 2023, the investment general partner sold its interest in Lincoln Hotel Partnership, A California Limited Partnership, with cash proceeds to the investment partnership of $429,843. These proceeds were returned to cash reserves held by Series 29 and recorded as a gain on sale as of June 30, 2023. In addition, equity outstanding for the Operating Partnership in the amount of $785 for Series 29 was recorded as gain on the sale of the Operating Partnership as of June 30, 2023.

Series 30

The series did not have any properties as of June 30, 2023 and 2022.

Series 31

The series did not have any properties as of June 30, 2023 and 2022.

Series 32

The series did not have any properties as of June 30, 2023 and 2022.

Series 33

The series did not have any properties as of June 30, 2023 and 2022.

Series 34

The series had a total of 1 property at June 30, 2023.

For the three-month periods ended June 30, 2023 and 2022, Series 34 reflects a net income from the Operating Partnerships of $6,881 and $22,298, respectively, which includes depreciation and amortization of $22,107 and $21,644, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

Series 35

The series did not have any properties as of June 30, 2023 and 2022.

Series 36

The series did not have any properties as of June 30, 2023 and 2022.

Series 37

The series did not have any properties as of June 30, 2023 and 2022.

Series 38

The series did not have any properties as of June 30, 2023 and 2022.

156

Series 39

The series did not have any properties as of June 30, 2023 and 2022.

Series 40

The series did not have any properties as of June 30, 2023 and 2022.

Series 41

The series did not have any properties as of June 30, 2023 and 2022.

Series 42

The series did not have any properties as of June 30, 2023 and 2022.

Series 43

The series did not have any properties as of June 30, 2023 and 2022.

Series 44

The series did not have any properties as of June 30, 2023 and 2022.

In April 2022, the investment general partner sold its interest in Aurora Village Associates, LLP, with cash proceeds to the investment partnership of $1,746,178. These proceeds were returned to cash reserves held by Series 44 and recorded as a gain on sale as of June 30, 2022.

Series 45

The series did not have any properties as of June 30, 2023.

In April 2022, the investment general partner sold its interest in Kings Point Investment Group, LLLP, with cash proceeds to the investment partnership of $1,153,431. These proceeds were returned to cash reserves held by Series 45 and recorded as a gain on sale as of June 30, 2022.

In April 2022, the investment general partner sold its interest in University Plaza Investment Group, LLLP, with cash proceeds to the investment partnership of $252,438. These proceeds were returned to cash reserves held by Series 45 and recorded as a gain on sale as of June 30, 2022.

In July 2022, the investment general partner transferred its interest in Farmington Associates I, L.P., with cash proceeds to the investment partnership of $4,999. These proceeds were returned to cash reserves held by Series 45 and recorded as a gain on transfer as of September 30, 2022.

In October 2022, the investment general partner transferred its interest in Harbet Avenue Limited Partnership, with cash proceeds to the investment partnership of $990. These proceeds were returned to cash reserves held by Series 45 and recorded as a gain on transfer as of December 31, 2022.

Series 46

The series had a total of 2 properties at June 30, 2023.

For the three-month periods ended June 30, 2023 and 2022, Series 46 reflects a net loss from Operating Partnerships of $(10,848) and $(65,401), respectively, which includes depreciation and amortization of $55,561 and $106,892, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

157

In May 2022, the investment general partner transferred its interest in Jacksonville Square Housing, Ltd. with cash proceeds to the investment partnership of $32,998. These proceeds were returned to cash reserves held by Series 46 and recorded as a gain on transfer as of June 30, 2022.

In May 2022, the investment general partner transferred its interest in Panola Housing, Ltd. with cash proceeds to the investment partnership of $23,999. These proceeds were returned to cash reserves held by Series 46 and recorded as a gain on transfer as of June 30, 2022.

In June 2022, the investment general partner of Series 46 and BF Garden Tax Credit Fund V - Series 49 transferred their respective interest in Linden - Shawnee Partners, Limited Partnership, with cash proceeds to the investment partnership of $21,624 and $3,375, for Series 46 and Series 49, respectively. These proceeds of $21,624 and $3,375, for Series 46 and Series 49, respectively, were returned to cash reserves and recorded as a gain on transfer as of June 30, 2022.

In November 2022, the investment general partner transferred its interest in Rosehill Place of Topeka, L.L.C. with cash proceeds to the investment partnership of $359,620. These proceeds were returned to cash reserves held by Series 46 and recorded as a gain on transfer as of December 31, 2022.

In June 2023, the investment general partner sold its interest in Saint Martin Apartments L.P., with cash proceeds to the investment partnership of $587,240. These proceeds were returned to cash reserves held by Series 46 and recorded as a gain on sale as of June 30, 2023.

Critical Accounting Estimates

In accordance with the accounting guidance for the consolidation of variable interest entities, the Fund determines when it should include the assets, liabilities, and activities of a variable interest entity (“VIE”) in its financial statements, and when it should disclose information about its relationship with a VIE. The analysis that must be performed to determine which entity should consolidate a VIE focuses on control and economic factors. A VIE is a legal structure used to conduct activities or hold assets, which must be consolidated by a company if it is the primary beneficiary because it has (1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (2) the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. If multiple unrelated parties share such power, as defined, no party will be required to consolidate the VIE. Further, the guidance requires continual reconsideration of the primary beneficiary of a VIE.

Based on this guidance, management has determined that while the Operating Partnerships in which the Fund invests meet the definition of a VIE, the Operating Partnerships should not be consolidated with the Fund because the Fund does not have the power to direct the activities of the Operating Partnerships which are significant to their performance and is therefore not a primary beneficiary of the Operating Partnerships. The Fund currently records the amount of its investment in these partnerships as an asset on its balance sheets, recognizes its share of partnership income or losses in the statements of operations, and discloses how it accounts for material types of these investments in its financial statements. The Fund’s balance in investment in Operating Partnerships, advances made to Operating Partnerships, plus the risk of recapture of tax credits previously recognized on the investments, represents its maximum exposure to loss. The Fund’s exposure to loss on these partnerships is mitigated by the condition and financial performance of the underlying housing complexes as well as the strength of the general partners and their guarantee against credit recapture to the investors of the Fund.

Item 3Quantitative and Qualitative Disclosures About Market Risk

Not Applicable

Item 4Controls and Procedures

(a)   Evaluation of Disclosure Controls and Procedures 

As of the end of the period covered by this report, the Fund’s general partner, under the supervision and with the participation of the Principal Executive Officer and Principal Financial Officer of Corporate Investment Holdings, Inc., carried out an evaluation of the effectiveness of the Fund’s “disclosure controls and procedures” as defined under the Securities Exchange Act of 1934 Rules 13a-15 and 15d-15 with respect to each series individually, as well as the Fund as a whole. Based on that evaluation, the Fund’s Principal Executive Officer and Principal Financial Officer have

158

concluded that as of the end of the period covered by this report, the Fund’s disclosure controls and procedures were effective to ensure that information relating to any series or the Fund as a whole required to be disclosed by it in the reports that it files or submits under the Securities Exchange Act of 1934 (i) is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and (ii) is accumulated and communicated to the Fund’s management, including the Fund’s Principal Executive Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure with respect to each series individually, as well as the Fund as a whole.

(b)   Changes in Internal Controls

There were no changes in the Fund’s or any series’ internal control over financial reporting that occurred during the quarter ended June 30, 2023 that materially affected, or are reasonably likely to materially affect, the Fund’s or any series’ internal control over financial reporting.

(c)   Certifications

The Certifications of the Principal Executive Officer and Principal Financial Officer of the Fund required by Section 302 and Section 906 of the Sarbanes-Oxley Act of 2002, which are filed or furnished as Exhibits 31.a, 31.b, 32.a and 32.b to this Quarterly Report on Form 10-Q, are applicable to each series individually and the Fund as a whole.

159

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None

Item 1A.  Risk Factors

There have been no material changes from the risk factors set forth under Part I, Item 1A. “Risk Factors” in our Form 10-K for the fiscal year ended March 31, 2023.

Item 2.Unregistered Sales of Equity Securities and Use of Proceeds

None

Item 3.Defaults Upon Senior Securities

None

Item 4.Mine Safety Disclosures

Not Applicable

Item 5.Other Information

None

Item 6.Exhibits 

31.a Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, of Gregory Voyentzie, Principal Executive Officer, filed herewith

31.b Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, of Marie Reynolds, Principal Accounting and Financial Officer, filed herewith

32.a Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, of Gregory Voyentzie, Principal Executive Officer, filed herewith

32.b Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, of Marie Reynolds, Principal Accounting and Financial Officer, filed herewith

101. The following materials from the BF Garden Tax Credit Fund IV L.P. Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023 formatted in Inline Extensible Business Reporting Language (iXBRL): (i) the Condensed Balance Sheets, (ii) the Condensed Statements of Operations, (iii) the Condensed Statements of Changes in Partners’ Capital (Deficit), (iv) the Condensed Statements of Cash Flows and (v) related notes, filed herewith

104. Cover Page Interactive Data File (formatted in iXBRL and included in Exhibit 101).

160

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BF Garden Tax Credit Fund IV L.P.
	By:	BF Garden Associates IV L.P.,
		its General Partner
		By:	Corporate Investment Holdings, Inc.,
			its General Partner
Date: August 10, 2023			By:	/s/ Gregory Voyentzie
				Gregory Voyentzie
				President (Principal Executive Officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Fund and in the capacities and on the dates indicated:

DATE:	SIGNATURE:	TITLE:
August 10, 2023	/s/ Gregory Voyentzie	President (Principal Executive Officer),
	Gregory Voyentzie	Corporate Investment Holdings, Inc.
August 10, 2023	/s/ Marie Reynolds	Treasurer (Principal Accounting and Financial Officer),
	Marie Reynolds	Corporate Investment Holdings, Inc.

161

EX-31.A

Exhibit 31.a

I, Gregory Voyentzie, certify that:

1. I have reviewed this quarterly report on Form 10-Q of BF Garden Tax Credit Fund IV L.P.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 10, 2023	/s/ Gregory Voyentzie
	Gregory Voyentzie
	Principal Executive Officer, BF Garden Associates IV L.P.

EX-31.B

Exhibit 31.b

I, Marie Reynolds, certify that:

1. I have reviewed this quarterly report on Form 10-Q of BF Garden Tax Credit Fund IV L.P.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 10, 2023	/s/ Marie Reynolds
	Marie Reynolds
	Principal Accounting and Financial Officer, BF Garden Associates IV L.P.

EX-32.A

EXHIBIT 32.a

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of BF Garden Tax Credit Fund IV L.P. (the “Fund”) on Form 10-Q for the period ended June 30, 2023 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Gregory Voyentzie, Principal Executive Officer of the Fund’s general partner, BF Garden Associates IV L.P., certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge, after due inquiry:

(1) The Report fully complies with the requirements of section 13(a)-15 or 15(d)-15 of the Securities and Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Fund.

Date:
August 10, 2023	/s/Gregory Voyentzie
	Gregory Voyentzie
	Principal Executive Officer, BF Garden Associates IV L.P.

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Fund and will be retained by the Fund and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.B

EXHIBIT 32.b

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of BF Garden Tax Credit Fund IV L.P. (the “Fund”) on Form 10-Q for the period ended June 30, 2023 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Marie Reynolds, Principal Financial Officer of the Fund’s general partner, BF Garden Associates IV L.P., certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge, after due inquiry:

(1) The Report fully complies with the requirements of section 13(a)-15 or 15(d)-15 of the Securities and Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Fund.

Date:
August 10, 2023	/s/Marie Reynolds
	Marie Reynolds
	Principal Accounting and Financial Officer, BF Garden Associates IV L.P.

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Fund and will be retained by the Fund and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Document and Entity Information	3 Months Ended
	Jun. 30, 2023 shares
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	0-26200
Entity Registrant Name	BF GARDEN TAX CREDIT FUND IV L.P.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3208648
Entity Address, Address Line One	101 Arch Street
Entity Address, Address Line Two	13th Floor
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02110
City Area Code	888
Local Phone Number	773-1487
Title of 12(b) Security	None
No Trading Symbol Flag	true
Security Exchange Name	NONE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	0
Amendment Flag	false
Entity Central Index Key	0000913778
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1

XML

CONDENSED BALANCE SHEETS - USD ($)	Jun. 30, 2023	Mar. 31, 2023
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	$ 0	$ 0
OTHER ASSETS
Cash and cash equivalents	470,472	508,245
Other assets	3,220	5,911
ASSETS	473,692	514,156
LIABILITIES
Accounts payable and accrued expenses	1	1
Accounts payable affiliates	$ 3,328,959	$ 7,035,500
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 785
LIABILITIES	3,328,960	7,036,286
PARTNERS' CAPITAL (DEFICIT)
Limited partners	(6,496,538)	(7,446,921)
General Partner	3,641,270	924,791
PARTNERS' CAPITAL (DEFICIT)	(2,855,268)	(6,522,130)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	473,692	514,156
Series 20
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	(754,767)	(754,767)
General Partner	754,767	754,767
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 21
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	(898,231)	(898,231)
General Partner	898,231	898,231
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 22
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	(2,448,362)	(2,448,362)
General Partner	2,448,362	2,448,362
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 23
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	(224,264)	(224,264)
General Partner	224,264	224,264
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 24
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	173,404	173,404
General Partner	(173,404)	(173,404)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 25
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	219,815	219,815
General Partner	(219,815)	(219,815)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 26
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	313,969	313,969
General Partner	(313,969)	(313,969)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 27
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	133,264	133,264
General Partner	(133,264)	(133,264)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 28
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	275,140	275,140
General Partner	(275,140)	(275,140)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 29
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	47,146
Other assets	0	2,582
ASSETS	0	49,728
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 3,113,302
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 785
LIABILITIES	0	3,114,087
PARTNERS' CAPITAL (DEFICIT)
Limited partners	(2,341,163)	(2,695,068)
General Partner	2,341,163	(369,291)
PARTNERS' CAPITAL (DEFICIT)	0	(3,064,359)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	49,728
Series 30
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	(883,119)	(883,119)
General Partner	883,119	883,119
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 31
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	353,529	353,529
General Partner	(353,529)	(353,529)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 32
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	380,821	380,821
General Partner	(380,821)	(380,821)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 33
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	196,294	196,294
General Partner	(196,294)	(196,294)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 34
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	25,145	31,891
Other assets	55	82
ASSETS	25,200	31,973
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 2,511,383	$ 2,506,760
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	2,511,383	2,506,760
PARTNERS' CAPITAL (DEFICIT)
Limited partners	(2,160,932)	(2,149,650)
General Partner	(325,251)	(325,137)
PARTNERS' CAPITAL (DEFICIT)	(2,486,183)	(2,474,787)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	25,200	31,973
Series 35
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	223,088	223,088
General Partner	(223,088)	(223,088)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 36
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	148,221	148,221
General Partner	(148,221)	(148,221)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 37
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	205,359	205,359
General Partner	(205,359)	(205,359)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 38
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	188,889	188,889
General Partner	(188,889)	(188,889)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 39
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	196,043	196,043
General Partner	(196,043)	(196,043)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 40
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	216,900	216,900
General Partner	(216,900)	(216,900)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 41
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	(987,713)	(987,713)
General Partner	987,713	987,713
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 42
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	216,680	216,680
General Partner	(216,680)	(216,680)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 43
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	306,854	306,854
General Partner	(306,854)	(306,854)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 44
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	207,874	207,874
General Partner	(207,874)	(207,874)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 45
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	0
Other assets	0	0
ASSETS	0	0
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	$ 0	$ 0
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	0	0
PARTNERS' CAPITAL (DEFICIT)
Limited partners	348,522	348,522
General Partner	(348,522)	(348,522)
PARTNERS' CAPITAL (DEFICIT)	0	0
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	0
Series 46
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	445,327	429,208
Other assets	3,165	3,247
ASSETS	448,492	432,455
LIABILITIES
Accounts payable and accrued expenses	1	1
Accounts payable affiliates	$ 817,576	$ 1,415,438
Accounts payable, related party, type	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	817,577	1,415,439
PARTNERS' CAPITAL (DEFICIT)
Limited partners	(102,653)	(710,413)
General Partner	(266,432)	(272,571)
PARTNERS' CAPITAL (DEFICIT)	(369,085)	(982,984)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	$ 448,492	$ 432,455

XML

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2023	Mar. 31, 2023
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	83,651,080	83,651,080
Units of limited partnership interest, outstanding	82,874,653	82,874,653
Series 20
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	3,866,700	3,866,700
Units of limited partnership interest, outstanding	3,828,200	3,828,200
Series 21
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	1,892,700	1,892,700
Units of limited partnership interest, outstanding	1,879,500	1,879,500
Series 22
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	2,564,400	2,564,400
Units of limited partnership interest, outstanding	2,550,145	2,550,145
Series 23
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	3,336,727	3,336,727
Units of limited partnership interest, outstanding	3,303,327	3,303,327
Series 24
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	2,169,878	2,169,878
Units of limited partnership interest, outstanding	2,150,053	2,150,053
Series 25
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	3,026,109	3,026,109
Units of limited partnership interest, outstanding	3,016,809	3,016,809
Series 26
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	3,995,900	3,995,900
Units of limited partnership interest, outstanding	3,926,374	3,926,374
Series 27
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	2,460,700	2,460,700
Units of limited partnership interest, outstanding	2,431,350	2,431,350
Series 28
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	4,000,738	4,000,738
Units of limited partnership interest, outstanding	3,979,139	3,979,139
Series 29
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	3,991,800	3,991,800
Units of limited partnership interest, outstanding	3,911,725	3,911,725
Series 30
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	2,651,000	2,651,000
Units of limited partnership interest, outstanding	2,621,200	2,621,200
Series 31
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	4,417,857	4,417,857
Units of limited partnership interest, outstanding	4,375,757	4,375,757
Series 32
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	4,754,198	4,754,198
Units of limited partnership interest, outstanding	4,706,298	4,706,298
Series 33
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	2,636,533	2,636,533
Units of limited partnership interest, outstanding	2,605,833	2,605,833
Series 34
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	3,529,319	3,529,319
Units of limited partnership interest, outstanding	3,474,319	3,474,319
Series 35
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	3,300,463	3,300,463
Units of limited partnership interest, outstanding	3,277,913	3,277,913
Series 36
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	2,106,838	2,106,838
Units of limited partnership interest, outstanding	2,083,704	2,083,704
Series 37
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	2,512,500	2,512,500
Units of limited partnership interest, outstanding	2,489,100	2,489,100
Series 38
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	2,543,100	2,543,100
Units of limited partnership interest, outstanding	2,536,200	2,536,200
Series 39
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	2,292,151	2,292,151
Units of limited partnership interest, outstanding	2,288,351	2,288,351
Series 40
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	2,630,256	2,630,256
Units of limited partnership interest, outstanding	2,611,356	2,611,356
Series 41
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	2,891,626	2,891,626
Units of limited partnership interest, outstanding	2,865,176	2,865,176
Series 42
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	2,744,262	2,744,262
Units of limited partnership interest, outstanding	2,706,362	2,706,362
Series 43
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	3,637,987	3,637,987
Units of limited partnership interest, outstanding	3,617,987	3,617,987
Series 44
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	2,701,973	2,701,973
Units of limited partnership interest, outstanding	2,682,873	2,682,873
Series 45
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	4,014,367	4,014,367
Units of limited partnership interest, outstanding	3,989,967	3,989,967
Series 46
Units of limited partnership interest, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	101,500,000	101,500,000
Units of limited partnership interest, issued	2,980,998	2,980,998
Units of limited partnership interest, outstanding	2,965,635	2,965,635

XML

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Income
Interest income	$ 3,250	$ 729
Other income	49,860	142,163
Total income	53,110	142,892
Gain on disposition of Operating Partnerships	1,017,868	3,230,668
Expenses
Professional fees	1,429	1,492
Fund management fee, net	1,623	5,751
General and administrative expenses	107,943	122,591
Total expenses	110,995	129,834
NET INCOME (LOSS)	959,983	3,243,726
Net income (loss) allocated to assignees	950,383	3,211,289
Net income (loss) allocated to general partner	$ 9,600	$ 32,437
Net income (loss) per BAC	$ 0.01	$ 0.04
Series 20
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 21
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 22
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 23
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 24
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 25
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 26
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 27
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 28
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 29
Income
Interest income	$ 459	$ 23
Other income	16,876	0
Total income	17,335	23
Gain on disposition of Operating Partnerships	430,628	0
Expenses
Professional fees	310	299
Fund management fee, net	0	1,128
General and administrative expenses	90,173	14,635
Total expenses	90,483	16,062
NET INCOME (LOSS)	357,480	(16,039)
Net income (loss) allocated to assignees	353,905	(15,879)
Net income (loss) allocated to general partner	$ 3,575	$ (160)
Net income (loss) per BAC	$ 0.09	$ 0.00
Series 30
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 31
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 32
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 33
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 34
Income
Interest income	$ 134	$ 17
Other income	0	0
Total income	134	17
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	809	299
Fund management fee, net	1,623	4,623
General and administrative expenses	9,098	11,425
Total expenses	11,530	16,347
NET INCOME (LOSS)	(11,396)	(16,330)
Net income (loss) allocated to assignees	(11,282)	(16,167)
Net income (loss) allocated to general partner	$ (114)	$ (163)
Net income (loss) per BAC	$ 0.00	$ 0.00
Series 35
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 36
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 37
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 38
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 39
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 40
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 41
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 42
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 43
Income
Interest income	$ 0	$ 0
Other income	0	0
Total income	0	0
Gain on disposition of Operating Partnerships	0	0
Expenses
Professional fees	0	0
Fund management fee, net	0	0
General and administrative expenses	0	0
Total expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to assignees	0	0
Net income (loss) allocated to general partner	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0
Series 44
Income
Interest income	$ 0	$ 437
Other income	0	81,588
Total income	0	82,025
Gain on disposition of Operating Partnerships	0	1,746,178
Expenses
Professional fees	0	298
Fund management fee, net	0	0
General and administrative expenses	0	72,685
Total expenses	0	72,983
NET INCOME (LOSS)	0	1,755,220
Net income (loss) allocated to assignees	0	1,737,668
Net income (loss) allocated to general partner	$ 0	$ 17,552
Net income (loss) per BAC	$ 0	$ 0.65
Series 45
Income
Interest income	$ 0	$ 144
Other income	0	58,183
Total income	0	58,327
Gain on disposition of Operating Partnerships	0	1,405,869
Expenses
Professional fees	0	298
Fund management fee, net	0	0
General and administrative expenses	0	12,949
Total expenses	0	13,247
NET INCOME (LOSS)	0	1,450,949
Net income (loss) allocated to assignees	0	1,436,440
Net income (loss) allocated to general partner	$ 0	$ 14,509
Net income (loss) per BAC	$ 0	$ 0.36
Series 46
Income
Interest income	$ 2,657	$ 108
Other income	32,984	2,392
Total income	35,641	2,500
Gain on disposition of Operating Partnerships	587,240	78,621
Expenses
Professional fees	310	298
Fund management fee, net	0	0
General and administrative expenses	8,672	10,897
Total expenses	8,982	11,195
NET INCOME (LOSS)	613,899	69,926
Net income (loss) allocated to assignees	607,760	69,227
Net income (loss) allocated to general partner	$ 6,139	$ 699
Net income (loss) per BAC	$ 0.20	$ 0.02

XML

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT) - USD ($)	Series 20 Assignees	Series 20 General partner	Series 20	Series 21 Assignees	Series 21 General partner	Series 21	Series 22 Assignees	Series 22 General partner	Series 22	Series 23 Assignees	Series 23 General partner	Series 23	Series 24 Assignees	Series 24 General partner	Series 24	Series 25 Assignees	Series 25 General partner	Series 25	Series 26 Assignees	Series 26 General partner	Series 26	Series 27 Assignees	Series 27 General partner	Series 27	Series 28 Assignees	Series 28 General partner	Series 28	Series 29 Assignees	Series 29 General partner	Series 29	Series 30 Assignees	Series 30 General partner	Series 30	Series 31 Assignees	Series 31 General partner	Series 31	Series 32 Assignees	Series 32 General partner	Series 32	Series 33 Assignees	Series 33 General partner	Series 33	Series 34 Assignees	Series 34 General partner	Series 34	Series 35 Assignees	Series 35 General partner	Series 35	Series 36 Assignees	Series 36 General partner	Series 36	Series 37 Assignees	Series 37 General partner	Series 37	Series 38 Assignees	Series 38 General partner	Series 38	Series 39 Assignees	Series 39 General partner	Series 39	Series 40 Assignees	Series 40 General partner	Series 40	Series 41 Assignees	Series 41 General partner	Series 41	Series 42 Assignees	Series 42 General partner	Series 42	Series 43 Assignees	Series 43 General partner	Series 43	Series 44 Assignees	Series 44 General partner	Series 44	Series 45 Assignees	Series 45 General partner	Series 45	Series 46 Assignees	Series 46 General partner	Series 46	Assignees	General partner	Total
Partners' capital (deficit), Beginning balance at Mar. 31, 2022	$ (754,767)	$ 754,767	$ 0	$ (898,231)	$ 898,231	$ 0	$ (2,448,362)	$ 2,448,362	$ 0	$ (224,264)	$ 224,264	$ 0	$ 173,404	$ (173,404)	$ 0	$ 219,815	$ (219,815)	$ 0	$ 313,969	$ (313,969)	$ 0	$ 133,264	$ (133,264)	$ 0	$ 275,140	$ (275,140)	$ 0	$ (2,629,677)	$ (368,630)	$ (2,998,307)	$ (883,119)	$ 883,119	$ 0	$ 353,529	$ (353,529)	$ 0	$ 380,821	$ (380,821)	$ 0	$ 196,294	$ (196,294)	$ 0	$ (2,082,108)	$ (324,455)	$ (2,406,563)	$ 223,088	$ (223,088)	$ 0	$ 148,221	$ (148,221)	$ 0	$ 205,359	$ (205,359)	$ 0	$ 188,889	$ (188,889)	$ 0	$ 196,043	$ (196,043)	$ 0	$ 216,900	$ (216,900)	$ 0	$ (987,713)	$ 987,713	$ 0	$ 216,680	$ (216,680)	$ 0	$ 306,854	$ (306,854)	$ 0	$ 1,427,661	$ (255,426)	$ 1,202,235	$ (488,806)	$ (362,172)	$ (850,978)	$ (1,075,610)	$ (276,260)	$ (1,351,870)	$ (7,296,726)	$ 891,243	$ (6,405,483)
Distribution	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(2,957,455)	0	(2,957,455)	0	0	0	0	0	0	(2,957,455)	0	(2,957,455)
Net income (loss)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0		0	0	0	0	0	(15,879)	(160)	(16,039)	0	0	0	0	0	0	0	0	0	0	0	0	(16,167)	(163)	(16,330)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,737,668	17,552	1,755,220	1,436,440	14,509	1,450,949	69,227	699	69,926	3,211,289	32,437	3,243,726
Partners' capital (deficit), Ending balance at Jun. 30, 2022	(754,767)	754,767	0	(898,231)	898,231	0	(2,448,362)	2,448,362	0	(224,264)	224,264	0	173,404	(173,404)	0	219,815	(219,815)	0	313,969	(313,969)	0	133,264	(133,264)	0	275,140	(275,140)	0	(2,645,556)	(368,790)	(3,014,346)	(883,119)	883,119	0	353,529	(353,529)	0	380,821	(380,821)	0	196,294	(196,294)	0	(2,098,275)	(324,618)	(2,422,893)	223,088	(223,088)	0	148,221	(148,221)	0	205,359	(205,359)	0	188,889	(188,889)	0	196,043	(196,043)	0	216,900	(216,900)	0	(987,713)	987,713	0	216,680	(216,680)	0	306,854	(306,854)	0	207,874	(207,874)	0	947,634	(347,663)	599,971	(1,006,383)	(275,561)	(1,281,944)	(7,042,892)	923,680	(6,119,212)
Partners' capital (deficit), Beginning balance at Mar. 31, 2023	(754,767)	754,767	0	(898,231)	898,231	0	(2,448,362)	2,448,362	0	(224,264)	224,264	0	173,404	(173,404)	0	219,815	(219,815)	0	313,969	(313,969)	0	133,264	(133,264)	0	275,140	(275,140)	0	(2,695,068)	(369,291)	(3,064,359)	(883,119)	883,119	0	353,529	(353,529)	0	380,821	(380,821)	0	196,294	(196,294)	0	(2,149,650)	(325,137)	(2,474,787)	223,088	(223,088)	0	148,221	(148,221)	0	205,359	(205,359)	0	188,889	(188,889)	0	196,043	(196,043)	0	216,900	(216,900)	0	(987,713)	987,713	0	216,680	(216,680)	0	306,854	(306,854)	0	207,874	(207,874)	0	348,522	(348,522)	0	(710,413)	(272,571)	(982,984)	(7,446,921)	924,791	(6,522,130)
Contribution	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,706,879	2,706,879	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0			0	0	0	0	0	0	0	0	0	0		0	0	0	0	0	0	0	0		2,706,879	2,706,879
Net income (loss)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	353,905	3,575	357,480	0	0	0	0	0	0	0	0	0	0	0	0	(11,282)	(114)	(11,396)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0			0	0	0	0	0	0	0	0	0	0		0	0	0	0	0	607,760	6,139	613,899	950,383	9,600	959,983
Partners' capital (deficit), Ending balance at Jun. 30, 2023	$ (754,767)	$ 754,767	$ 0	$ (898,231)	$ 898,231	$ 0	$ (2,448,362)	$ 2,448,362	$ 0	$ (224,264)	$ 224,264	$ 0	$ 173,404	$ (173,404)	$ 0	$ 219,815	$ (219,815)	$ 0	$ 313,969	$ (313,969)	$ 0	$ 133,264	$ (133,264)	$ 0	$ 275,140	$ (275,140)	$ 0	$ (2,341,163)	$ 2,341,163	$ 0	$ (883,119)	$ 883,119	$ 0	$ 353,529	$ (353,529)	$ 0	$ 380,821	$ (380,821)	$ 0	$ 196,294	$ (196,294)	$ 0	$ (2,160,932)	$ (325,251)	$ (2,486,183)	$ 223,088	$ (223,088)	$ 0	$ 148,221	$ (148,221)	$ 0	$ 205,359	$ (205,359)	$ 0	$ 188,889	$ (188,889)	$ 0	$ 196,043	$ (196,043)	$ 0	$ 216,900	$ (216,900)	$ 0	$ (987,713)	$ 987,713	$ 0	$ 216,680	$ (216,680)	$ 0	$ 306,854	$ (306,854)	$ 0	$ 207,874	$ (207,874)	$ 0	$ 348,522	$ (348,522)	$ 0	$ (102,653)	$ (266,432)	$ (369,085)	$ (6,496,538)	$ 3,641,270	$ (2,855,268)

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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income (loss)	$ 959,983	$ 3,243,726
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	(1,017,868)	(3,230,668)
Changes in assets and liabilities
(Increase) Decrease in other assets	2,691	(450)
(Decrease) Increase in accounts payable and accrued expenses	0	1
(Decrease) Increase in accounts payable affiliates	(999,662)	(1,447,179)
Net cash (used in) provided by operating activities	(1,054,856)	(1,434,570)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	1,017,083	3,230,668
Net cash provided by investing activities	1,017,083	3,230,668
Cash flows from financing activities:
Distributions	0	(2,957,455)
Net cash used in financing activities	0	(2,957,455)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(37,773)	(1,161,357)
Cash and cash equivalents, beginning	508,245	2,370,898
Cash and cash equivalents, ending	470,472	1,209,541
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	2,706,879	0
Series 20
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 21
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 22
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 23
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 24
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 25
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 26
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 27
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 28
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 29
Cash flows from operating activities:
Net income (loss)	357,480	(16,039)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	(430,628)	0
Changes in assets and liabilities
(Increase) Decrease in other assets	2,582	(56)
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	(406,423)	1,128
Net cash (used in) provided by operating activities	(476,989)	(14,967)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	429,843	0
Net cash provided by investing activities	429,843	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(47,146)	(14,967)
Cash and cash equivalents, beginning	47,146	108,768
Cash and cash equivalents, ending	0	93,801
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	2,706,879	0
Series 30
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 31
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 32
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 33
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 34
Cash flows from operating activities:
Net income (loss)	(11,396)	(16,330)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	27	(56)
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	4,623	4,623
Net cash (used in) provided by operating activities	(6,746)	(11,763)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(6,746)	(11,763)
Cash and cash equivalents, beginning	31,891	81,705
Cash and cash equivalents, ending	25,145	69,942
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 35
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 36
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 37
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 38
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 39
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 40
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 41
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 42
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 43
Cash flows from operating activities:
Net income (loss)	0	0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	0
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	0
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
Cash and cash equivalents, beginning	0	0
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 44
Cash flows from operating activities:
Net income (loss)	0	1,755,220
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	(1,746,178)
Changes in assets and liabilities
(Increase) Decrease in other assets	0	0
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	(28,269)
Net cash (used in) provided by operating activities	0	(19,227)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	1,746,178
Net cash provided by investing activities	0	1,746,178
Cash flows from financing activities:
Distributions	0	(2,957,455)
Net cash used in financing activities	0	(2,957,455)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	(1,230,504)
Cash and cash equivalents, beginning	0	1,230,504
Cash and cash equivalents, ending	0	0
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 45
Cash flows from operating activities:
Net income (loss)	0	1,450,949
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	(1,405,869)
Changes in assets and liabilities
(Increase) Decrease in other assets	0	(113)
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	(1,134,074)
Net cash (used in) provided by operating activities	0	(1,089,107)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	1,405,869
Net cash provided by investing activities	0	1,405,869
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	316,762
Cash and cash equivalents, beginning	0	287,530
Cash and cash equivalents, ending	0	604,292
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	0	0
Series 46
Cash flows from operating activities:
Net income (loss)	613,899	69,926
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	(587,240)	(78,621)
Changes in assets and liabilities
(Increase) Decrease in other assets	82	(225)
(Decrease) Increase in accounts payable and accrued expenses	0	1
(Decrease) Increase in accounts payable affiliates	(597,862)	(290,587)
Net cash (used in) provided by operating activities	(571,121)	(299,506)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	587,240	78,621
Net cash provided by investing activities	587,240	78,621
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	16,119	(220,885)
Cash and cash equivalents, beginning	429,208	662,391
Cash and cash equivalents, ending	445,327	441,506
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates was reduced as a result of forgiveness of debt with an affiliate of the general partner.	$ 0	$ 0

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ORGANIZATION

3 Months Ended

Jun. 30, 2023

ORGANIZATION

ORGANIZATION

NOTE A – ORGANIZATION

BF Garden Tax Credit Fund IV L.P. (formerly known as Boston Capital Tax Credit Fund IV L.P.) (the “Fund”) was organized under the laws of the State of Delaware as of October 5, 1993, for the purpose of acquiring, holding, and disposing of limited partnership interests in operating partnerships which will acquire, develop, rehabilitate, operate and own newly constructed, existing or rehabilitated low-income apartment complexes (“Operating Partnerships”). Effective as of December 15, 2020, Corporate Investment Holdings, Inc., a Massachusetts corporation owned by BF Garden Companion Limited Partnership, a Massachusetts limited partnership formerly known as Boston Capital Companion Limited Partnership (“Companion”), replaced BCA Associates Limited Partnership as the general partner of the Fund’s general partner, BF Garden Associates IV L.P., a Delaware limited partnership formerly known as Boston Capital Associates IV L.P. Additionally, Companion replaced Capital Investment Holdings IV Limited Partnership as the sole limited partner of the Fund’s general partner. Also effective as of December 15, 2020, BFBC Holdings GP, LLC, a Delaware limited liability company and an affiliate of Boston Financial Investment Management, LP, a Delaware limited partnership (“BFIM”), replaced Boston Capital Partners II Corporation as the general partner of Companion; and BFIM replaced Boston Capital Companion Holdings Limited Partnership as the sole limited partner of Companion. The assignor limited partner of the Fund continues to be BCTC IV Assignor Corp., a Delaware corporation which is now wholly owned by Companion.

Pursuant to the Securities Act of 1933, the Fund filed a Form S-11 Registration Statement with the Securities and Exchange Commission, effective December 16, 1993, which covered the offering (the “Public Offering”) of the Fund’s beneficial assignee certificates (“BACs”) representing assignments of units of the beneficial interest of the limited partnership interest of the assignor limited partner. The Fund registered 30,000,000 BACs at $10 per BAC for sale to the public in one or more series. On April 18, 1996, an amendment to Form S-11 which registered an additional 10,000,000 BACs for sale to the public in one or more series became effective. On April 2, 1998, an amendment to Form S-11, which registered an additional 25,000,000 BACs for sale to the public in one or more series, became effective. On August 31, 1999, an amendment to Form S-11, which registered an additional 8,000,000 BACs for sale to the public in one or more series, became effective. On July 26, 2000, an amendment to Form S-11, which registered an additional 7,500,000 BACs for sale to the public in one or more series, became effective. On July 24, 2001, an amendment to Form S-11, which registered an additional 7,000,000 BACs for sale to the public in one or more series, became effective. On July 24, 2002, an amendment to Form S-11, which registered an additional 7,000,000 BACs for sale to the public, became effective. On July 1, 2003, an amendment to Form S-11, which registered an additional 7,000,000 BACs for sale to the public, became effective.

NOTE A – ORGANIZATION (continued)

Below is a summary of the BACs sold and total equity raised, by series, as of the date of this filing:

Series	Closing Date	BACs Sold	Equity Raised
Series 20	June 24, 1994	3,866,700	$	38,667,000
Series 21	December 31, 1994	1,892,700	$	18,927,000
Series 22	December 28, 1994	2,564,400	$	25,644,000
Series 23	June 23, 1995	3,336,727	$	33,366,000
Series 24	September 22, 1995	2,169,878	$	21,697,000
Series 25	December 29, 1995	3,026,109	$	30,248,000
Series 26	June 25, 1996	3,995,900	$	39,959,000
Series 27	September 17, 1996	2,460,700	$	24,607,000
Series 28	January 29, 1997	4,000,738	$	39,999,000
Series 29	June 10, 1997	3,991,800	$	39,918,000
Series 30	September 10, 1997	2,651,000	$	26,490,750
Series 31	January 18, 1998	4,417,857	$	44,057,750
Series 32	June 23, 1998	4,754,198	$	47,431,000
Series 33	September 21, 1998	2,636,533	$	26,362,000
Series 34	February 11, 1999	3,529,319	$	35,273,000
Series 35	June 28, 1999	3,300,463	$	33,004,630
Series 36	September 28, 1999	2,106,838	$	21,068,375
Series 37	January 28, 2000	2,512,500	$	25,125,000
Series 38	July 31, 2000	2,543,100	$	25,431,000
Series 39	January 31, 2001	2,292,151	$	22,921,000
Series 40	July 31, 2001	2,630,256	$	26,269,256
Series 41	January 31, 2002	2,891,626	$	28,916,260
Series 42	July 31, 2002	2,744,262	$	27,442,620
Series 43	December 31, 2002	3,637,987	$	36,379,870
Series 44	April 30, 2003	2,701,973	$	27,019,730
Series 45	September 16, 2003	4,014,367	$	40,143,670
Series 46	December 19, 2003	2,980,998	$	29,809,980

The Fund concluded its public offering of BACs in the Fund on December 19, 2003.

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ACCOUNTING AND FINANCIAL REPORTING POLICIES

3 Months Ended

Jun. 30, 2023

ACCOUNTING AND FINANCIAL REPORTING POLICIES

ACCOUNTING AND FINANCIAL REPORTING POLICIES

NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES

The condensed financial statements herein as of June 30, 2023 and for the three months then ended have been prepared by the Fund, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. The Fund accounts for its investments in Operating Partnerships using the equity method, whereby the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. Costs incurred by the Fund in acquiring the investments in the Operating Partnerships are capitalized to the investment account.

The Fund’s accounting and financial reporting policies are in conformity with generally accepted accounting principles and include adjustments in interim periods considered necessary for a fair presentation of the results of operations. Such adjustments are of a normal recurring nature. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to these rules and regulations. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Fund’s Annual Report on Form 10-K for the fiscal year ended March 31, 2023.

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RELATED PARTY TRANSACTIONS

3 Months Ended

Jun. 30, 2023

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

NOTE C - RELATED PARTY TRANSACTIONS

The Fund originally incurred a fund management fee to Boston Capital Asset Management Limited Partnership, an affiliate of the general partner, prior to the sale as disclosed in Note A. As part of the sale disclosed in Note A, the fund management fee is now assigned to BF Garden Companion Limited Partnership, a Massachusetts limited partnership formerly known as Boston Capital Companion Limited Partnership (“Companion”) and an affiliate of the general partner, in an annual fund management fee of .5 percent of the aggregate cost of all apartment complexes owned by the Operating Partnerships. The obligation that had been accrued to Boston Capital Asset Management Limited Partnership was transferred to Companion as disclosed in Note A. Since reporting fees collected by the various series were added to reserves and not paid, the amounts accrued are not net of reporting fees received. The fund management fees accrued for the quarters ended June 30, 2023 and 2022, are as follows:

	2023		2022
Series 29	$	376	$	1,128
Series 34		4,623		4,623
Series 44		—		2,645
Series 45		—		8,729
Series 46		12,279		26,108
	$	17,278	$	43,233

The fund management fees paid for the three months ended June 30, 2023 and 2022 are as follows:

	2023		2022
Series 29	$	406,799	$	—
Series 44		—		30,914
Series 45		—		1,142,803
Series 46		610,141		316,695
	$	1,016,940	$	1,490,412

An affiliate of the general partner has forgiven asset management fees payable as a result of the sales of all operating limited partnerships in one of the series. Total forgiveness of debt for the quarters ended June 30, 2023 and 2022 was $2,706,879 and $-, respectively. Because the transaction involved an affiliate of the general partner, the transaction is accounted for as an equity transaction instead of income to the Fund.

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INVESTMENTS IN OPERATING PARTNERSHIPS

3 Months Ended

Jun. 30, 2023

INVESTMENTS IN OPERATING PARTNERSHIPS

INVESTMENTS IN OPERATING PARTNERSHIPS

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS

At June 30, 2023 and 2022, the Fund has limited partnership interests in 3 and 8 Operating Partnerships, respectively, which own or are constructing apartment complexes.

The breakdown of Operating Partnerships within the Fund at June 30, 2023 and 2022 are as follows:

	2023	2022
Series 20	—	—
Series 21	—	—
Series 22	—	—
Series 23	—	—
Series 24	—	—
Series 25	—	—
Series 26	—	—
Series 27	—	—
Series 28	—	—
Series 29	—	1
Series 30	—	—
Series 31	—	—
Series 32	—	—
Series 33	—	—
Series 34	1	1
Series 35	—	—
Series 36	—	—
Series 37	—	—
Series 38	—	—
Series 39	—	—
Series 40	—	—
Series 41	—	—
Series 42	—	—
Series 43	—	—
Series 44	—	—
Series 45	—	2
Series 46	2	4
	3	8

Under the terms of the Fund’s investment in each Operating Partnership, the Fund is required to make capital contributions to the Operating Partnerships. These contributions are payable in installments over several years upon each Operating Partnership achieving specified levels of construction and/or operations. The contributions payable at June 30, 2023 and 2022, are as follows:

	2023		2022
Series 29	$	—	$	785

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

During the three months ended June 30, 2023 the Fund disposed of two Operating Partnerships. A summary of the dispositions by series for June 30, 2023 is as follows:

	Operating	Sale of
	Partnership	Underlying	Fund Proceeds
	Interest	Operating	from		Gain on
	Transferred	Partnership	Disposition *		Disposition
Series 29	—	1	$	429,843	$	430,628
Series 46	—	1		587,240		587,240
Total	—	2	$	1,017,083	$	1,017,868

* Fund proceeds from disposition does not include $785, which was due to a write-off of capital contribution payable as of June 30, 2023, for Series 29.

During the three months ended June 30, 2022 the Fund disposed of six Operating Partnerships. A summary of the dispositions by series for June 30, 2022 is as follows:

	Operating	Sale of
	Partnership	Underlying	Fund Proceeds
	Interest	Operating	from		Gain on
	Transferred	Partnership	Disposition		Disposition
Series 44	—	1	$	1,746,178	$	1,746,178
Series 45	—	2		1,405,869		1,405,869
Series 46	3	—		78,621		78,621
Total	3	3	$	3,230,668	$	3,230,668

The gain described above is for financial statement purposes only. There are significant differences between the equity method of accounting and the tax reporting of income and losses from Operating Partnership investments. The largest difference is the ability, for tax purposes, to deduct losses in excess of the Fund’s investment in the Operating Partnership. As a result, the amount of gain recognized for tax purposes may be significantly higher than the gain recorded in the financial statements.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

The Fund’s fiscal year ends March 31st for each year, while all the Operating Partnerships’ fiscal years are the calendar year. Pursuant to the provisions of each Operating Partnership’s partnership agreement, financial results for each of the Operating Partnerships are provided to the Fund within 45 days after the close of each Operating Partnership’s quarterly period. Accordingly, the current financial results available for the Operating Partnerships are for the three months ended March 31, 2023.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

	2023		2022
Revenues
Rental	$	376,586	$	691,106
Interest and other		7,980		20,331
		384,566		711,437
Expenses
Interest		38,914		102,253
Depreciation and amortization		77,668		198,607
Operating expenses		271,951		545,299
		388,533		846,159
NET INCOME (LOSS)	$	(3,967)	$	(134,722)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	(3,928)	$	(133,375)
Net income (loss) allocated to other Partners	$	(39)	$	(1,347)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 20

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 21

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 22

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 23

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 24

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 25

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 26

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 27

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 28

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 29

	2023		2022
Revenues
Rental	$	—	$	81,488
Interest and other		—		—
		—		81,488
Expenses
Interest		—		6,115
Depreciation and amortization		—		13,577
Operating expenses		—		79,766
		—		99,458
NET INCOME (LOSS)	$	—	$	(17,970)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	(17,790)
Net income (loss) allocated to other Partners	$	—	$	(180)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 30

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 31

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 32

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 33

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 34

	2023		2022
Revenues
Rental	$	156,690	$	148,515
Interest and other		5,987		8,977
		162,677		157,492
Expenses
Interest		20,966		21,476
Depreciation and amortization		22,107		21,644
Operating expenses		112,723		92,074
		155,796		135,194
NET INCOME (LOSS)	$	6,881	$	22,298
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	6,812	$	22,075
Net income (loss) allocated to other Partners	$	69	$	223

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 35

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 36

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 37

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 38

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 39

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 40

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 41

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 42

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 43

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 44

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 45

	2023		2022
Revenues
Rental	$	—	$	87,460
Interest and other		—		4,010
		—		91,470
Expenses
Interest		—		12,194
Depreciation and amortization		—		56,494
Operating expenses		—		96,431
		—		165,119
NET INCOME (LOSS)	$	—	$	(73,649)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	(72,913)
Net income (loss) allocated to other Partners	$	—	$	(736)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

Series 46

	2023		2022
Revenues
Rental	$	219,896	$	373,643
Interest and other		1,993		7,344
		221,889		380,987
Expenses
Interest		17,948		62,468
Depreciation and amortization		55,561		106,892
Operating expenses		159,228		277,028
		232,737		446,388
NET INCOME (LOSS)	$	(10,848)	$	(65,401)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	(10,740)	$	(64,747)
Net income (loss) allocated to other Partners	$	(108)	$	(654)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

XML

TAXABLE LOSS

3 Months Ended

Jun. 30, 2023

TAXABLE LOSS

TAXABLE LOSS

NOTE E - TAXABLE LOSS

The Fund’s taxable loss is expected to differ from its loss for financial reporting purposes. This is primarily due to accounting differences in depreciation incurred by the Operating Partnerships and also differences between the equity method of accounting and the IRS accounting methods.

XML

INCOME TAXES

3 Months Ended

Jun. 30, 2023

INCOME TAXES

INCOME TAXES

NOTE F - INCOME TAXES

The Fund has elected to be treated as a pass-through entity for income tax purposes and, as such, is not subject to income taxes. Rather, all items of taxable income, deductions and tax credits are passed through to and are reported by its owners on their respective income tax returns. The Fund’s federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, the Fund is not required to take any tax positions in order to qualify as a pass-through entity. The Fund is required to file and does file tax returns with the Internal Revenue Service and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Fund has no other tax positions, which must be considered for disclosure. Income tax returns filed by the Fund are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2019 remain open.

XML

SUBSEQUENT EVENTS

3 Months Ended

Jun. 30, 2023

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE G - SUBSEQUENT EVENTS

Events that occur after the balance sheet date but before the financial statements were available to be issued must be evaluated for recognition or disclosure. The effects of subsequent events that provide evidence about conditions that existed at the balance sheet date are recognized in the accompanying financial statements. Subsequent events, which provide evidence about conditions that existed after the balance sheet date, require disclosure in the accompanying notes. Management evaluated the activity of the Fund through the date the financial statements were issued, and concluded that, no subsequent events have occurred that would require recognition in the financial statements or disclosure in the notes to the financial statements.

XML

ORGANIZATION (Tables)

3 Months Ended

Jun. 30, 2023

ORGANIZATION

Summary of BACs sold and total equity raised by series

Series	Closing Date	BACs Sold	Equity Raised
Series 20	June 24, 1994	3,866,700	$	38,667,000
Series 21	December 31, 1994	1,892,700	$	18,927,000
Series 22	December 28, 1994	2,564,400	$	25,644,000
Series 23	June 23, 1995	3,336,727	$	33,366,000
Series 24	September 22, 1995	2,169,878	$	21,697,000
Series 25	December 29, 1995	3,026,109	$	30,248,000
Series 26	June 25, 1996	3,995,900	$	39,959,000
Series 27	September 17, 1996	2,460,700	$	24,607,000
Series 28	January 29, 1997	4,000,738	$	39,999,000
Series 29	June 10, 1997	3,991,800	$	39,918,000
Series 30	September 10, 1997	2,651,000	$	26,490,750
Series 31	January 18, 1998	4,417,857	$	44,057,750
Series 32	June 23, 1998	4,754,198	$	47,431,000
Series 33	September 21, 1998	2,636,533	$	26,362,000
Series 34	February 11, 1999	3,529,319	$	35,273,000
Series 35	June 28, 1999	3,300,463	$	33,004,630
Series 36	September 28, 1999	2,106,838	$	21,068,375
Series 37	January 28, 2000	2,512,500	$	25,125,000
Series 38	July 31, 2000	2,543,100	$	25,431,000
Series 39	January 31, 2001	2,292,151	$	22,921,000
Series 40	July 31, 2001	2,630,256	$	26,269,256
Series 41	January 31, 2002	2,891,626	$	28,916,260
Series 42	July 31, 2002	2,744,262	$	27,442,620
Series 43	December 31, 2002	3,637,987	$	36,379,870
Series 44	April 30, 2003	2,701,973	$	27,019,730
Series 45	September 16, 2003	4,014,367	$	40,143,670
Series 46	December 19, 2003	2,980,998	$	29,809,980

XML

RELATED PARTY TRANSACTIONS (Tables)

3 Months Ended

Jun. 30, 2023

RELATED PARTY TRANSACTIONS

Schedule of fund management fees accrued

	2023		2022
Series 29	$	376	$	1,128
Series 34		4,623		4,623
Series 44		—		2,645
Series 45		—		8,729
Series 46		12,279		26,108
	$	17,278	$	43,233

Schedule of management fees paid

	2023		2022
Series 29	$	406,799	$	—
Series 44		—		30,914
Series 45		—		1,142,803
Series 46		610,141		316,695
	$	1,016,940	$	1,490,412

XML

INVESTMENTS IN OPERATING PARTNERSHIPS (Tables)

3 Months Ended

Jun. 30, 2023

INVESTMENTS IN OPERATING PARTNERSHIPS

Schedule of operating partnerships within the fund

	2023	2022
Series 20	—	—
Series 21	—	—
Series 22	—	—
Series 23	—	—
Series 24	—	—
Series 25	—	—
Series 26	—	—
Series 27	—	—
Series 28	—	—
Series 29	—	1
Series 30	—	—
Series 31	—	—
Series 32	—	—
Series 33	—	—
Series 34	1	1
Series 35	—	—
Series 36	—	—
Series 37	—	—
Series 38	—	—
Series 39	—	—
Series 40	—	—
Series 41	—	—
Series 42	—	—
Series 43	—	—
Series 44	—	—
Series 45	—	2
Series 46	2	4
	3	8

Schedule of contributions payable

	2023		2022
Series 29	$	—	$	785

Summary of dispositions by series

During the three months ended June 30, 2023 the Fund disposed of two Operating Partnerships. A summary of the dispositions by series for June 30, 2023 is as follows:

	Operating	Sale of
	Partnership	Underlying	Fund Proceeds
	Interest	Operating	from		Gain on
	Transferred	Partnership	Disposition *		Disposition
Series 29	—	1	$	429,843	$	430,628
Series 46	—	1		587,240		587,240
Total	—	2	$	1,017,083	$	1,017,868

* Fund proceeds from disposition does not include $785, which was due to a write-off of capital contribution payable as of June 30, 2023, for Series 29.

During the three months ended June 30, 2022 the Fund disposed of six Operating Partnerships. A summary of the dispositions by series for June 30, 2022 is as follows:

	Operating	Sale of
	Partnership	Underlying	Fund Proceeds
	Interest	Operating	from		Gain on
	Transferred	Partnership	Disposition		Disposition
Series 44	—	1	$	1,746,178	$	1,746,178
Series 45	—	2		1,405,869		1,405,869
Series 46	3	—		78,621		78,621
Total	3	3	$	3,230,668	$	3,230,668

Schedule of summarized statement of operations in operating partnerships.

	2023		2022
Revenues
Rental	$	376,586	$	691,106
Interest and other		7,980		20,331
		384,566		711,437
Expenses
Interest		38,914		102,253
Depreciation and amortization		77,668		198,607
Operating expenses		271,951		545,299
		388,533		846,159
NET INCOME (LOSS)	$	(3,967)	$	(134,722)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	(3,928)	$	(133,375)
Net income (loss) allocated to other Partners	$	(39)	$	(1,347)

Series 20

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 21

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 22

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 23

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 24

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 25

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 26

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 27

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 28

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 29

	2023		2022
Revenues
Rental	$	—	$	81,488
Interest and other		—		—
		—		81,488
Expenses
Interest		—		6,115
Depreciation and amortization		—		13,577
Operating expenses		—		79,766
		—		99,458
NET INCOME (LOSS)	$	—	$	(17,970)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	(17,790)
Net income (loss) allocated to other Partners	$	—	$	(180)

Series 30

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 31

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 32

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 33

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 34

	2023		2022
Revenues
Rental	$	156,690	$	148,515
Interest and other		5,987		8,977
		162,677		157,492
Expenses
Interest		20,966		21,476
Depreciation and amortization		22,107		21,644
Operating expenses		112,723		92,074
		155,796		135,194
NET INCOME (LOSS)	$	6,881	$	22,298
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	6,812	$	22,075
Net income (loss) allocated to other Partners	$	69	$	223

Series 35

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 36

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 37

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 38

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 39

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 40

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 41

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 42

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 43

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 44

	2023		2022
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	—
Net income (loss) allocated to other Partners	$	—	$	—

Series 45

	2023		2022
Revenues
Rental	$	—	$	87,460
Interest and other		—		4,010
		—		91,470
Expenses
Interest		—		12,194
Depreciation and amortization		—		56,494
Operating expenses		—		96,431
		—		165,119
NET INCOME (LOSS)	$	—	$	(73,649)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	(72,913)
Net income (loss) allocated to other Partners	$	—	$	(736)

Series 46

	2023		2022
Revenues
Rental	$	219,896	$	373,643
Interest and other		1,993		7,344
		221,889		380,987
Expenses
Interest		17,948		62,468
Depreciation and amortization		55,561		106,892
Operating expenses		159,228		277,028
		232,737		446,388
NET INCOME (LOSS)	$	(10,848)	$	(65,401)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	(10,740)	$	(64,747)
Net income (loss) allocated to other Partners	$	(108)	$	(654)

XML

ORGANIZATION - BACs sold and total equity raised by series (Details) - USD ($)	3 Months Ended
	Jun. 30, 2023	Mar. 31, 2023
Capital Unit
BACs Sold	83,651,080	83,651,080
Series 20
Capital Unit
Closing Date	Jun. 24, 1994
BACs Sold	3,866,700	3,866,700
Equity Raised	$ 38,667,000
Series 21
Capital Unit
Closing Date	Dec. 31, 1994
BACs Sold	1,892,700	1,892,700
Equity Raised	$ 18,927,000
Series 22
Capital Unit
Closing Date	Dec. 28, 1994
BACs Sold	2,564,400	2,564,400
Equity Raised	$ 25,644,000
Series 23
Capital Unit
Closing Date	Jun. 23, 1995
BACs Sold	3,336,727	3,336,727
Equity Raised	$ 33,366,000
Series 24
Capital Unit
Closing Date	Sep. 22, 1995
BACs Sold	2,169,878	2,169,878
Equity Raised	$ 21,697,000
Series 25
Capital Unit
Closing Date	Dec. 29, 1995
BACs Sold	3,026,109	3,026,109
Equity Raised	$ 30,248,000
Series 26
Capital Unit
Closing Date	Jun. 25, 1996
BACs Sold	3,995,900	3,995,900
Equity Raised	$ 39,959,000
Series 27
Capital Unit
Closing Date	Sep. 17, 1996
BACs Sold	2,460,700	2,460,700
Equity Raised	$ 24,607,000
Series 28
Capital Unit
Closing Date	Jan. 29, 1997
BACs Sold	4,000,738	4,000,738
Equity Raised	$ 39,999,000
Series 29
Capital Unit
Closing Date	Jun. 10, 1997
BACs Sold	3,991,800	3,991,800
Equity Raised	$ 39,918,000
Series 30
Capital Unit
Closing Date	Sep. 10, 1997
BACs Sold	2,651,000	2,651,000
Equity Raised	$ 26,490,750
Series 31
Capital Unit
Closing Date	Jan. 18, 1998
BACs Sold	4,417,857	4,417,857
Equity Raised	$ 44,057,750
Series 32
Capital Unit
Closing Date	Jun. 23, 1998
BACs Sold	4,754,198	4,754,198
Equity Raised	$ 47,431,000
Series 33
Capital Unit
Closing Date	Sep. 21, 1998
BACs Sold	2,636,533	2,636,533
Equity Raised	$ 26,362,000
Series 34
Capital Unit
Closing Date	Feb. 11, 1999
BACs Sold	3,529,319	3,529,319
Equity Raised	$ 35,273,000
Series 35
Capital Unit
Closing Date	Jun. 28, 1999
BACs Sold	3,300,463	3,300,463
Equity Raised	$ 33,004,630
Series 36
Capital Unit
Closing Date	Sep. 28, 1999
BACs Sold	2,106,838	2,106,838
Equity Raised	$ 21,068,375
Series 37
Capital Unit
Closing Date	Jan. 28, 2000
BACs Sold	2,512,500	2,512,500
Equity Raised	$ 25,125,000
Series 38
Capital Unit
Closing Date	Jul. 31, 2000
BACs Sold	2,543,100	2,543,100
Equity Raised	$ 25,431,000
Series 39
Capital Unit
Closing Date	Jan. 31, 2001
BACs Sold	2,292,151	2,292,151
Equity Raised	$ 22,921,000
Series 40
Capital Unit
Closing Date	Jul. 31, 2001
BACs Sold	2,630,256	2,630,256
Equity Raised	$ 26,269,256
Series 41
Capital Unit
Closing Date	Jan. 31, 2002
BACs Sold	2,891,626	2,891,626
Equity Raised	$ 28,916,260
Series 42
Capital Unit
Closing Date	Jul. 31, 2002
BACs Sold	2,744,262	2,744,262
Equity Raised	$ 27,442,620
Series 43
Capital Unit
Closing Date	Dec. 31, 2002
BACs Sold	3,637,987	3,637,987
Equity Raised	$ 36,379,870
Series 44
Capital Unit
Closing Date	Apr. 30, 2003
BACs Sold	2,701,973	2,701,973
Equity Raised	$ 27,019,730
Series 45
Capital Unit
Closing Date	Sep. 16, 2003
BACs Sold	4,014,367	4,014,367
Equity Raised	$ 40,143,670
Series 46
Capital Unit
Closing Date	Dec. 19, 2003
BACs Sold	2,980,998	2,980,998
Equity Raised	$ 29,809,980

XML

ORGANIZATION - Additional Information (Details)	Jul. 01, 2003 item	Jul. 24, 2002 item	Jul. 24, 2001 item	Jul. 26, 2000 item	Aug. 31, 1999 item	Apr. 02, 1998 item	Apr. 18, 1996 item	Dec. 16, 1993 item $ / shares
ORGANIZATION
Units of limited partnership interest, authorized								30,000,000
Limited partners capital account per units | $ / shares								$ 10
Limited partners capital account additional units registered for sale	7,000,000	7,000,000	7,000,000	7,500,000	8,000,000	25,000,000	10,000,000

XML

RELATED PARTY TRANSACTIONS - Fund management fees accrued (Details) - USD ($)	3 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
RELATED PARTY TRANSACTIONS
Gross Fund Management Fee	$ 17,278	$ 43,233
Series 29
RELATED PARTY TRANSACTIONS
Gross Fund Management Fee	376	1,128
Series 34
RELATED PARTY TRANSACTIONS
Gross Fund Management Fee	4,623	4,623
Series 44
RELATED PARTY TRANSACTIONS
Gross Fund Management Fee	0	2,645
Series 45
RELATED PARTY TRANSACTIONS
Gross Fund Management Fee	0	8,729
Series 46
RELATED PARTY TRANSACTIONS
Gross Fund Management Fee	$ 12,279	$ 26,108

XML

RELATED PARTY TRANSACTIONS - Fund management fees paid (Details) - USD ($)	3 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
RELATED PARTY TRANSACTIONS
Fund management fees paid	$ 1,016,940	$ 1,490,412
Series 29
RELATED PARTY TRANSACTIONS
Fund management fees paid	406,799	0
Series 44
RELATED PARTY TRANSACTIONS
Fund management fees paid	0	30,914
Series 45
RELATED PARTY TRANSACTIONS
Fund management fees paid	0	1,142,803
Series 46
RELATED PARTY TRANSACTIONS
Fund management fees paid	$ 610,141	$ 316,695

XML

RELATED PARTY TRANSACTIONS - Additional Information (Details)	3 Months Ended
	Jun. 30, 2023 USD ($)
RELATED PARTY TRANSACTIONS
Percentage of annual fund management fee	0.50%
Total forgiveness of debt	$ 2,706,879

XML

INVESTMENTS IN OPERATING PARTNERSHIPS - Operating Partnerships within the Fund (Details) - Partnership	Jun. 30, 2023	Jun. 30, 2022
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	3	8
Series 20
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 21
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 22
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 23
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 24
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 25
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 26
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 27
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 28
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 29
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	1
Series 30
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 31
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 32
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 33
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 34
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	1	1
Series 35
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 36
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 37
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 38
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 39
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 40
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 41
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 42
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 43
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 44
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	0
Series 45
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	0	2
Series 46
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	2	4

XML

INVESTMENTS IN OPERATING PARTNERSHIPS - Contributions payable (Details) - USD ($)	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022
INVESTMENTS IN OPERATING PARTNERSHIPS
Capital contributions payable	$ 0	$ 785
Series 29
INVESTMENTS IN OPERATING PARTNERSHIPS
Capital contributions payable	$ 0	$ 785	$ 785

XML

INVESTMENTS IN OPERATING PARTNERSHIPS - Dispositions by series (Details)	3 Months Ended
	Jun. 30, 2023 USD ($) item	Jun. 30, 2022 USD ($) Partnership item
INVESTMENTS IN OPERATING PARTNERSHIPS
Operating partnership interest transferred | item	0	3
Sale of underlying operating partnership | item	2	3
Fund proceeds from disposition	$ 1,017,083	$ 3,230,668
Gain on Disposition	$ 1,017,868	$ 3,230,668
Series 29
INVESTMENTS IN OPERATING PARTNERSHIPS
Operating partnership interest transferred | item	0
Sale of underlying operating partnership | item	1
Fund proceeds from disposition	$ 429,843
Gain on Disposition	$ 430,628
Series 44
INVESTMENTS IN OPERATING PARTNERSHIPS
Operating partnership interest transferred | Partnership		0
Sale of underlying operating partnership | Partnership		1
Fund proceeds from disposition		$ 1,746,178
Gain on Disposition		$ 1,746,178
Series 45
INVESTMENTS IN OPERATING PARTNERSHIPS
Operating partnership interest transferred | Partnership		0
Sale of underlying operating partnership | Partnership		2
Fund proceeds from disposition		$ 1,405,869
Gain on Disposition		$ 1,405,869
Series 46
INVESTMENTS IN OPERATING PARTNERSHIPS
Operating partnership interest transferred	0	3
Sale of underlying operating partnership	1	0
Fund proceeds from disposition	$ 587,240	$ 78,621
Gain on Disposition	$ 587,240	$ 78,621

XML

INVESTMENTS IN OPERATING PARTNERSHIPS - Current financial results available for the Operating Partnerships (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues
Rental	$ 376,586	$ 691,106
Interest and other	7,980	20,331
Operating Partnerships Revenues	384,566	711,437
Expenses
Interest	38,914	102,253
Depreciation and amortization	77,668	198,607
Operating expenses	271,951	545,299
Operating Partnerships Total Expenses	388,533	846,159
NET INCOME (LOSS)	(3,967)	(134,722)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	(3,928)	(133,375)
Net income (loss) allocated to other Partners	(39)	(1,347)
Series 20
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 21
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 22
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 23
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 24
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 25
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 26
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 27
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 28
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 29
Revenues
Rental	0	81,488
Interest and other	0
Operating Partnerships Revenues	0	81,488
Expenses
Interest	0	6,115
Depreciation and amortization	0	13,577
Operating expenses	0	79,766
Operating Partnerships Total Expenses	0	99,458
NET INCOME (LOSS)	0	(17,970)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	(17,790)
Net income (loss) allocated to other Partners	0	(180)
Series 30
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 31
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 32
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 33
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 34
Revenues
Rental	156,690	148,515
Interest and other	5,987	8,977
Operating Partnerships Revenues	162,677	157,492
Expenses
Interest	20,966	21,476
Depreciation and amortization	22,107	21,644
Operating expenses	112,723	92,074
Operating Partnerships Total Expenses	155,796	135,194
NET INCOME (LOSS)	6,881	22,298
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	6,812	22,075
Net income (loss) allocated to other Partners	69	223
Series 35
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 36
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 37
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 38
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 39
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 40
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 41
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 42
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 43
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 44
Revenues
Rental	0	0
Interest and other	0	0
Operating Partnerships Revenues	0	0
Expenses
Interest	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Operating Partnerships Total Expenses	0	0
NET INCOME (LOSS)	0	0
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	0
Net income (loss) allocated to other Partners	0	0
Series 45
Revenues
Rental	0	87,460
Interest and other	0	4,010
Operating Partnerships Revenues	0	91,470
Expenses
Interest	0	12,194
Depreciation and amortization	0	56,494
Operating expenses	0	96,431
Operating Partnerships Total Expenses	0	165,119
NET INCOME (LOSS)	0	(73,649)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	(72,913)
Net income (loss) allocated to other Partners	0	(736)
Series 46
Revenues
Rental	219,896	373,643
Interest and other	1,993	7,344
Operating Partnerships Revenues	221,889	380,987
Expenses
Interest	17,948	62,468
Depreciation and amortization	55,561	106,892
Operating expenses	159,228	277,028
Operating Partnerships Total Expenses	232,737	446,388
NET INCOME (LOSS)	(10,848)	(65,401)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	(10,740)	(64,747)
Net income (loss) allocated to other Partners	$ (108)	$ (654)

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INVESTMENTS IN OPERATING PARTNERSHIPS - Additional Information (Details)	3 Months Ended
	Jun. 30, 2022 USD ($)
Series 29
INVESTMENT IN OPERATING PARTNERSHIPS
Write-off of capital contribution payable	$ 785