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 September 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.)

225 Franklin Street, 28^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 SEPTEMBER 30, 2023

TABLE OF CONTENTS

		Pages
PART I FINANCIAL INFORMATION
	Item 1. Condensed Financial Statements
	Condensed Balance Sheets	3-30
	Condensed Statements of Operations	31-86
	Condensed Statements of Changes in Partners’ Capital (Deficit)	87-114
	Condensed Statements of Cash Flows	115-142
	Notes to Condensed Financial Statements	143-176
	Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	177-187
	Item 3. Quantitative and Qualitative Disclosures About Market Risk	187
	Item 4. Controls and Procedures	187
PART II OTHER INFORMATION
	Item 1. Legal Proceedings	188
	Item 1A. Risk Factors	188
	Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	188
	Item 3. Defaults Upon Senior Securities	188
	Item 4. Mine Safety Disclosures	188
	Item 5. Other Information	188
	Item 6. Exhibits	188
	Signatures	189

2

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

	September 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		399,419		508,245
Other assets		3,083		5,911
	$	402,502	$	514,156
LIABILITIES
Accounts payable and accrued expenses	$	1	$	1
Accounts payable affiliates (Note C)		3,362,945		7,035,500
Capital contributions payable		—		785
		3,362,946		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 September 30, 2023 and March 31, 2023.		(6,600,662)		(7,446,921)
General Partner		3,640,218		924,791
		(2,960,444)		(6,522,130)
	$	402,502	$	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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		1,709		31,891
Other assets		28		82
	$	1,737	$	31,973
LIABILITIES
Accounts payable and accrued expenses	$	—	$	—
Accounts payable affiliates (Note C)		2,536,006		2,506,760
Capital contributions payable		—		—
		2,536,006		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 September 30, 2023 and March 31, 2023.		(2,208,537)		(2,149,650)
General Partner		(325,732)		(325,137)
		(2,534,269)		(2,474,787)
	$	1,737	$	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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 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 September 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

	September 30,		March 31,
	2023		2023
INVESTMENTS IN OPERATING PARTNERSHIPS	$	—	$	—
OTHER ASSETS
Cash and cash equivalents		397,710		429,208
Other assets		3,055		3,247
	$	400,765	$	432,455
LIABILITIES
Accounts payable and accrued expenses	$	1	$	1
Accounts payable affiliates (Note C)		826,939		1,415,438
Capital contributions payable		—		—
		826,940		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 September 30, 2023 and March 31, 2023.		(159,172)		(710,413)
General Partner		(267,003)		(272,571)
		(426,175)		(982,984)
	$	400,765	$	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 September 30,

(Unaudited)

	2023		2022
Income
Interest income	$	2,141	$	1,719
Other income		—		—
		2,141		1,719
Gain on disposition of Operating Partnerships		—		4,999
Expenses
Professional fees		31,534		43,711
Fund management fee, net (Note C)		13,986		24,656
General and administrative expenses		61,797		62,685
		107,317		131,052
NET INCOME (LOSS)	$	(105,176)	$	(124,334)
Net income (loss) allocated to assignees	$	(104,124)	$	(123,091)
Net income (loss) allocated to general partner	$	(1,052)	$	(1,243)
Net income (loss) per BAC	$	(.00)	$	(.00)

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 September 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 September 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 September 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 September 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 September 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 September 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 September 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 September 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 September 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 September 30,

(Unaudited)

Series 29

	2023		2022
Income
Interest income	$	—	$	109
Other income		—		—
		—		109
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		—		7,737
Fund management fee, net (Note C)		—		1,128
General and administrative expenses		—		18,393
		—		27,258
NET INCOME (LOSS)	$	—	$	(27,149)
Net income (loss) allocated to assignees	$	—	$	(26,877)
Net income (loss) allocated to general partner	$	—	$	(272)
Net income (loss) per BAC	$	—	$	(.01)

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 September 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 September 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 September 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 September 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 September 30,

(Unaudited)

Series 34

	2023		2022
Income
Interest income	$	98	$	80
Other income		—		—
		98		80
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		12,616		6,537
Fund management fee, net (Note C)		4,623		1,623
General and administrative expenses		30,945		14,730
		48,184		22,890
NET INCOME (LOSS)	$	(48,086)	$	(22,810)
Net income (loss) allocated to assignees	$	(47,605)	$	(22,582)
Net income (loss) allocated to general partner	$	(481)	$	(228)
Net income (loss) per BAC	$	(.01)	$	(.01)

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 September 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 September 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 September 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 September 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 September 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 September 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 September 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 September 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 September 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 September 30,

(Unaudited)

Series 44

	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

56

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended September 30,

(Unaudited)

Series 45

	2023		2022
Income
Interest income	$	—	$	890
Other income		—		—
		—		890
Gain on disposition of Operating Partnerships		—		4,999
Expenses
Professional fees		—		16,437
Fund management fee, net (Note C)		—		3,970
General and administrative expenses		—		16,102
		—		36,509
NET INCOME (LOSS)	$	—	$	(30,620)
Net income (loss) allocated to assignees	$	—	$	(30,314)
Net income (loss) allocated to general partner	$	—	$	(306)
Net income (loss) per BAC	$	—	$	(.01)

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 September 30,

(Unaudited)

Series 46

	2023		2022
Income
Interest income	$	2,043	$	640
Other income		—		–
		2,043		640
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		18,918		13,000
Fund management fee, net (Note C)		9,363		17,935
General and administrative expenses		30,852		13,460
		59,133		44,395
NET INCOME (LOSS)	$	(57,090)	$	(43,755)
Net income (loss) allocated to assignees	$	(56,519)	$	(43,318)
Net income (loss) allocated to general partner	$	(571)	$	(437)
Net income (loss) per BAC	$	(.02)	$	(.01)

The accompanying notes are an integral part of this condensed statement

58

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 30,

(Unaudited)

	2023		2022
Income
Interest income	$	5,391	$	2,448
Other income		40,497		142,163
		45,888		144,611
Gain on disposition of Operating Partnerships		1,017,868		3,235,667
Expenses
Professional fees		32,963		45,203
Fund management fee, net (Note C)		6,246		30,407
General and administrative expenses		169,740		185,276
		208,949		260,886
NET INCOME (LOSS)	$	854,807	$	3,119,392
Net income (loss) allocated to assignees	$	846,259	$	3,088,198
Net income (loss) allocated to general partner	$	8,548	$	31,194
Net income (loss) per BAC	$	.01	$	.04

The accompanying notes are an integral part of this condensed statement

59

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

60

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

61

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

62

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

63

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

64

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

65

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

66

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

67

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

68

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 30,

(Unaudited)

Series 29

	2023		2022
Income
Interest income	$	459	$	132
Other income		16,876		—
		17,335		132
Gain on disposition of Operating Partnerships		430,628		—
Expenses
Professional fees		310		8,036
Fund management fee, net (Note C)		—		2,256
General and administrative expenses		90,173		33,028
		90,483		43,320
NET INCOME (LOSS)	$	357,480	$	(43,188)
Net income (loss) allocated to assignees	$	353,905	$	(42,756)
Net income (loss) allocated to general partner	$	3,575	$	(432)
Net income (loss) per BAC	$	.09	$	(.01)

The accompanying notes are an integral part of this condensed statement

69

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

70

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

71

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

72

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

73

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 30,

(Unaudited)

Series 34

	2023		2022
Income
Interest income	$	232	$	97
Other income		—		—
		232		97
Gain on disposition of Operating Partnerships		—		—
Expenses
Professional fees		13,425		6,836
Fund management fee, net (Note C)		6,246		6,246
General and administrative expenses		40,043		26,155
		59,714		39,237
NET INCOME (LOSS)	$	(59,482)	$	(39,140)
Net income (loss) allocated to assignees	$	(58,887)	$	(38,749)
Net income (loss) allocated to general partner	$	(595)	$	(391)
Net income (loss) per BAC	$	(.02)	$	(.01)

The accompanying notes are an integral part of this condensed statement

74

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

75

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

76

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

77

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

78

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

79

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

80

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

81

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

82

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

83

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 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

84

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 30,

(Unaudited)

Series 45

	2023		2022
Income
Interest income	$	—	$	1,034
Other income		—		58,183
		—		59,217
Gain on disposition of Operating Partnerships		—		1,410,868
Expenses
Professional fees		—		16,735
Fund management fee, net (Note C)		—		3,970
General and administrative expenses		—		29,051
		—		49,756
NET INCOME (LOSS)	$	—	$	1,420,329
Net income (loss) allocated to assignees	$	—	$	1,406,126
Net income (loss) allocated to general partner	$	—	$	14,203
Net income (loss) per BAC	$	—	$	.35

The accompanying notes are an integral part of this condensed statement

85

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 30,

(Unaudited)

Series 46

	2023		2022
Income
Interest income	$	4,700	$	748
Other income		23,621		2,392
		28,321		3,140
Gain on disposition of Operating Partnerships		587,240		78,621
Expenses
Professional fees		19,228		13,298
Fund management fee, net (Note C)		—		17,935
General and administrative expenses		39,524		24,357
		58,752		55,590
NET INCOME (LOSS)	$	556,809	$	26,171
Net income (loss) allocated to assignees	$	551,241	$	25,909
Net income (loss) allocated to general partner	$	5,568	$	262
Net income (loss) per BAC	$	.19	$	.01

The accompanying notes are an integral part of this condensed statement

86

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)
Net income (loss)		(104,124)		(1,052)		(105,176)
Partners’ capital (deficit), September 30, 2023	$	(6,600,662)	$	3,640,218	$	(2,960,444)

			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)
Net income (loss)		(123,091)		(1,243)		(124,334)
Partners’ capital (deficit), September 30, 2022	$	(7,165,983)	$	922,437	$	(6,243,546)

The accompanying notes are an integral part of this condensed statement

87

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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	$	—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	(754,767)	$	754,767	$	—

The accompanying notes are an integral part of this condensed statement

88

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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	$	—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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		—
Net income (loss)		—		—		—
Partners' capital (deficit), September 30,2022	$	(898,231)	$	898,231	$	—

The accompanying notes are an integral part of this condensed statement

89

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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	$	—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	(2,448,362)	$	2,448,362	$	—

The accompanying notes are an integral part of this condensed statement

90

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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	$	—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	(224,264)	$	224,264	$	—

The accompanying notes are an integral part of this condensed statement

91

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)	$	—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	173,404	$	(173,404)	$	—

The accompanying notes are an integral part of this condensed statement

92

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)	$	—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	219,815	$	(219,815)	$	—

The accompanying notes are an integral part of this condensed statement

93

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)	$	—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	313,969	$	(313,969)	$	—

The accompanying notes are an integral part of this condensed statement

94

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)	$	—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	133,264	$	(133,264)	$	—

The accompanying notes are an integral part of this condensed statement

95

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)	$	—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	275,140	$	(275,140)	$	—

The accompanying notes are an integral part of this condensed statement

96

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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	$	—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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)
Net income (loss)		(26,877)		(272)		(27,149)
Partners’ capital (deficit), September 30, 2022	$	(2,672,433)	$	(369,062)	$	(3,041,495)

The accompanying notes are an integral part of this condensed statement

97

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	(883,119)	$	883,119	$	—

The accompanying notes are an integral part of this condensed statement

98

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	353,529	$	(353,529)	$	—

The accompanying notes are an integral part of this condensed statement

99

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	380,821	$	(380,821)	$	—

The accompanying notes are an integral part of this condensed statement

100

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	196,294	$	(196,294)	$	—

The accompanying notes are an integral part of this condensed statement

101

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)
Net income (loss)		(47,605)		(481)		(48,086)
Partners’ capital (deficit), September 30, 2023	$	(2,208,537)	$	(325,732)	$	(2,534,269)

			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)
Net income (loss)		(22,582)		(228)		(22,810)
Partners’ capital (deficit), September 30, 2022	$	(2,120,857)	$	(324,846)	$	(2,445,703)

The accompanying notes are an integral part of this condensed statement

102

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	223,088	$	(223,088)	$	—

The accompanying notes are an integral part of this condensed statement

103

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	148,221	$	(148,221)	$	—

The accompanying notes are an integral part of this condensed statement

104

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	205,359	$	(205,359)	$	—

The accompanying notes are an integral part of this condensed statement

105

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	188,889	$	(188,889)	$	—

The accompanying notes are an integral part of this condensed statement

106

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	196,043	$	(196,043)	$	—

The accompanying notes are an integral part of this condensed statement

107

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	216,900	$	(216,900)	$	—

The accompanying notes are an integral part of this condensed statement

108

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	(987,713)	$	987,713	$	—

The accompanying notes are an integral part of this condensed statement

109

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit),September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	216,680	$	(216,680)	$	—

The accompanying notes are an integral part of this condensed statement

110

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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)		—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2022	$	306,854	$	(306,854)	$	—

The accompanying notes are an integral part of this condensed statement

111

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)	$	—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 30, 2023	$	207,874	$	(207,874)	$	—

			General
	Assignees		Partner		Total
Partners’ capital (deficit) April 1, 2022	$	1,427,661	$	(225,426)	$	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)		—
Net income (loss)		–		–		–
Partners’ capital (deficit), September 30, 2022	$	207,874	$	(207,874)	$	–

The accompanying notes are an integral part of this condensed statement

112

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)	$	—
Net income (loss)		—		—		—
Partners’ capital (deficit), September 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
Net income (loss)		(30,314)		(306)		(30,620)
Partners’ capital (deficit), September 30, 2022	$	917,320	$	(347,969)	$	569,351

The accompanying notes are an integral part of this condensed statement

113

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Six Months Ended September 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)
Net income (loss)		(56,519)		(571)		(57,090)
Partners’ capital (deficit), September 30, 2023	$	(159,172)	$	(267,003)	$	(426,175)

			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)
Net income (loss)		(43,318)		(437)		(43,755)
Partners’ capital (deficit), September 30, 2022	$	(1,049,701)	$	(275,998)	$	(1,325,699)

The accompanying notes are an integral part of this condensed statement

114

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 30,

(Unaudited)

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	854,807	$	3,119,392
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		(1,017,868)		(3,235,667)
Changes in assets and liabilities
(Increase) Decrease in other assets		2,828		(198)
(Decrease) Increase in accounts payable and accrued expenses		—		1
(Decrease) Increase in accounts payable affiliates		(965,676)		(1,418,723)
Net cash (used in) provided by operating activities		(1,125,909)		(1,535,195)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		1,017,083		3,235,667
Net cash provided by investing activities		1,017,083		3,235,667
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		(108,826)		(1,256,983)
Cash and cash equivalents, beginning		508,245		2,370,898
Cash and cash equivalents, ending	$	399,419	$	1,113,915
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

115

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

116

BF Garden Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 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

117

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

118

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

119

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

120

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

121

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

122

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

123

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

124

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 30,

(Unaudited)

Series 29

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	357,480	$	(43,188)
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		(28)
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		(406,423)		2,256
Net cash (used in) provided by operating activities		(476,989)		(40,960)
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)		(40,960)
Cash and cash equivalents, beginning		47,146		108,768
Cash and cash equivalents, ending	$	—	$	67,808
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

125

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

126

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

127

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

128

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

129

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 30,

(Unaudited)

Series 34

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	(59,482)	$	(39,140)
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		54		(28)
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		29,246		9,246
Net cash (used in) provided by operating activities		(30,182)		(29,922)
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		(30,182)		(29,922)
Cash and cash equivalents, beginning		31,891		81,705
Cash and cash equivalents, ending	$	1,709	$	51,783
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

130

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

131

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

132

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

133

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

134

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

135

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

136

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

137

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

138

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

139

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 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

140

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 30,

(Unaudited)

Series 45

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	—	$	1,420,329
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships		—		(1,410,868)
Changes in assets and liabilities
(Increase) Decrease in other assets		—		(29)
(Decrease) Increase in accounts payable and accrued expenses		—		—
(Decrease) Increase in accounts payable affiliates		—		(1,130,104)
Net cash (used in) provided by operating activities		—		(1,120,672)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships		—		1,410,868
Net cash provided by investing activities		—		1,410,868
Cash flows from financing activities:
Distributions		—		—
Net cash used in financing activities		—		—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		—		290,196
Cash and cash equivalents, beginning		—		287,530
Cash and cash equivalents, ending	$	—	$	577,726
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

141

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 30,

(Unaudited)

Series 46

	2023		2022
Cash flows from operating activities:
Net income (loss)	$	556,809	$	26,171
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		192		(113)
(Decrease) Increase in accounts payable and accrued expenses		—		1
(Decrease) Increase in accounts payable affiliates		(588,499)		(271,852)
Net cash (used in) provided by operating activities		(618,738)		(324,414)
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		(31,498)		(245,793)
Cash and cash equivalents, beginning		429,208		662,391
Cash and cash equivalents, ending	$	397,710	$	416,598
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

142

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS

September 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.

143

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 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 September 30, 2023 and for the three and six 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.

144

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 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 September 30, 2023 and 2022, are as follows:

	2023		2022
Series 29	$	—	$	1,128
Series 34		4,623		4,623
Series 45		—		3,970
Series 46		9,363		18,735
	$	13,986	$	28,456

The fund management fees paid for the six months ended September 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 six months ended September 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.

145

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS

At September 30, 2023 and 2022, the Fund has limited partnership interests in 3 and 7 Operating Partnerships, respectively, which own or are constructing apartment complexes.

The breakdown of Operating Partnerships within the Fund at September 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	—	1
Series 46	2	4
	3	7

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 September 30, 2023 and 2022, are as follows:

	2023		2022
Series 29	$	—	$	785

146

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

During the six months ended September 30, 2023 the Fund disposed of two Operating Partnerships. A summary of the dispositions by series for September 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 contributions payable as of September 30, 2023, for Series 29.

During the six months ended September 30, 2022 the Fund disposed of seven Operating Partnerships. A summary of the dispositions by series for September 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	1	2		1,410,868		1,410,868
Series 46	3	—		78,621		78,621
Total	4	3	$	3,235,667	$	3,235,667

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.

147

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 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 six months ended June 30, 2023.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

	2023		2022
Revenues
Rental	$	753,172	$	1,273,851
Interest and other		15,959		33,464
		769,131		1,307,315
Expenses
Interest		77,827		202,002
Depreciation and amortization		155,336		311,636
Operating expenses		543,904		995,009
		777,067		1,508,647
NET INCOME (LOSS)	$	(7,936)	$	(201,332)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	(7,857)	$	(199,319)
Net income (loss) allocated to other Partners	$	(79)	$	(2,013)

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.

148

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

149

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

150

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

151

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

152

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

153

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

154

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

155

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

156

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

157

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 29

	2023		2022
Revenues
Rental	$	—	$	162,975
Interest and other		—		—
		—		162,975
Expenses
Interest		—		12,230
Depreciation and amortization		—		27,154
Operating expenses		—		159,531
		—		198,915
NET INCOME (LOSS)	$	—	$	(35,940)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	(35,581)
Net income (loss) allocated to other Partners	$	—	$	(359)

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.

158

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

159

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

160

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

161

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

162

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 34

	2023		2022
Revenues
Rental	$	313,380	$	297,031
Interest and other		11,974		17,954
		325,354		314,985
Expenses
Interest		41,931		42,952
Depreciation and amortization		44,215		43,289
Operating expenses		225,447		184,147
		311,593		270,388
NET INCOME (LOSS)	$	13,761	$	44,597
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	13,623	$	44,151
Net income (loss) allocated to other Partners	$	138	$	446

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.

163

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

164

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

165

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

166

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

167

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

168

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

169

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

170

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

171

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

172

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(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.

173

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 45

	2023		2022
Revenues
Rental	$	—	$	66,559
Interest and other		—		823
		—		67,382
Expenses
Interest		—		21,885
Depreciation and amortization		—		27,408
Operating expenses		—		97,274
		—		146,567
NET INCOME (LOSS)	$	—	$	(79,185)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	(78,393)
Net income (loss) allocated to other Partners	$	—	$	(792)

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.

174

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2023

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 46

	2023		2022
Revenues
Rental	$	439,792	$	747,286
Interest and other		3,985		14,687
		443,777		761,973
Expenses
Interest		35,896		124,935
Depreciation and amortization		111,121		213,785
Operating expenses		318,457		554,057
		465,474		892,777
NET INCOME (LOSS)	$	(21,697)	$	(130,804)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	(21,480)	$	(129,496)
Net income (loss) allocated to other Partners	$	(217)	$	(1,308)

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.

175

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 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.

176

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 September 30, 2023 were $13,986 and total fund management fees accrued as of September 30, 2023 were $3,342,945. During the six months ended September 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.

An affiliate of the General Partner made advances to the Fund totaling $20,000 to temporarily cover operating expenses of the Fund, all of which is outstanding as of September 30, 2023. The advance does not bear interest, is unsecured and is payable on demand.

177

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 September 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 September 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 September 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 September 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 September 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.

178

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

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 September 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 September 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 September 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 September 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 six months ended September 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.

Prior to the quarter ended September 30, 2023, Series 29 had released all payments of its capital contributions to the Operating Partnerships.

179

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 September 30, 2023, Series 30 had released all payments of its capital contributions to the Operating Partnerships.

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 September 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 September 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 September 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 September 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 September 30, 2023, Series 35 had released all payments of its capital contributions to the Operating Partnerships.

180

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 September 30, 2023, Series 36 had released all payments of its capital contributions to the Operating Partnerships.

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 September 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 September 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 September 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 September 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 September 30, 2023, Series 41 had released all payments of its capital contributions to the Operating Partnerships.

181

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 September 30, 2023, Series 42 had released all payments of its capital contributions to the Operating Partnerships.

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 September 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 September 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 September 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 September 30, 2023, Series 46 had released all payments of its capital contributions to the Operating Partnerships.

Results of Operations

As of September 30, 2023 and 2022, the Fund held limited partnership interests in 3 and 7 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.

182

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 and six months ended September 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	$	—	$	—	$	—
Series 34		4,623		—		4,623
Series 46		9,363		—		9,363
	$	13,986	$	—	$	13,986

					6 Months
	6 Months		6 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		9,246		3,000		6,246
Series 46		21,642		21,642		—
	$	31,264	$	25,018	$	6,246

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 September 30, 2023 and 2022.

Series 21

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

Series 22

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

Series 23

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

Series 24

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

Series 25

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

183

Series 26

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

Series 27

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

Series 28

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

Series 29

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

For the six-month periods ended September 30, 2023 and 2022, Series 29 reflects a net loss from Operating Partnerships of $- and $(35,940), respectively, which includes depreciation and amortization of $- and $27,154, 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 September 30, 2023 and 2022.

Series 31

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

Series 32

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

Series 33

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

Series 34

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

For the six-month periods ended September 30, 2023 and 2022, Series 34 reflects a net income from the Operating Partnerships of $13,761 and $44,597, respectively, which includes depreciation and amortization of $44,215 and $43,289, 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 September 30, 2023 and 2022.

184

Series 36

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

Series 37

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

Series 38

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

Series 39

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

Series 40

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

Series 41

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

Series 42

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

Series 43

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

Series 44

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

For the six month periods ended September 30, 2023 and 2022, Series 45 reflects a net loss from Operating Partnerships of $- and $(79,185), respectively, which includes depreciation and amortization of $- and $27,408, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

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.

185

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 September 30, 2023.

For the six-month periods ended September 30, 2023 and 2022, Series 46 reflects a net loss from Operating Partnerships of $(21,697) and $(130,804), respectively, which includes depreciation and amortization of $111,121 and $213,785, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

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

186

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 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 September 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.

187

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 September 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).

188

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: November 9, 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:
November 9, 2023	/s/ Gregory Voyentzie	President (Principal Executive Officer),
	Gregory Voyentzie	Corporate Investment Holdings, Inc.
November 9, 2023	/s/ Marie Reynolds	Treasurer (Principal Accounting and Financial Officer),
	Marie Reynolds	Corporate Investment Holdings, Inc.

189

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: November 9, 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: November 9, 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 September 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:
November 9, 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 September 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:
November 9, 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	6 Months Ended
	Sep. 30, 2023 shares
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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	225 Franklin Street
Entity Address, Address Line Two	28th 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	Q2

XML

CONDENSED BALANCE SHEETS - USD ($)	Sep. 30, 2023	Mar. 31, 2023
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS	$ 0	$ 0
OTHER ASSETS
Cash and cash equivalents	399,419	508,245
Other assets	3,083	5,911
ASSETS	402,502	514,156
LIABILITIES
Accounts payable and accrued expenses	1	1
Accounts payable affiliates (Note C)	$ 3,362,945	$ 7,035,500
Other Liability, Related Party, Type [Extensible Enumeration]	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 785
LIABILITIES	3,362,946	7,036,286
PARTNERS' CAPITAL (DEFICIT)
Limited partners	(6,600,662)	(7,446,921)
General Partner	3,640,218	924,791
PARTNERS' CAPITAL (DEFICIT)	(2,960,444)	(6,522,130)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	402,502	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 3,113,302
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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	1,709	31,891
Other assets	28	82
ASSETS	1,737	31,973
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates (Note C)	$ 2,536,006	$ 2,506,760
Other Liability, Related Party, Type [Extensible Enumeration]	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	2,536,006	2,506,760
PARTNERS' CAPITAL (DEFICIT)
Limited partners	(2,208,537)	(2,149,650)
General Partner	(325,732)	(325,137)
PARTNERS' CAPITAL (DEFICIT)	(2,534,269)	(2,474,787)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	1,737	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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 (Note C)	$ 0	$ 0
Other Liability, Related Party, Type [Extensible Enumeration]	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	397,710	429,208
Other assets	3,055	3,247
ASSETS	400,765	432,455
LIABILITIES
Accounts payable and accrued expenses	1	1
Accounts payable affiliates (Note C)	$ 826,939	$ 1,415,438
Other Liability, Related Party, Type [Extensible Enumeration]	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Capital contributions payable	$ 0	$ 0
LIABILITIES	826,940	1,415,439
PARTNERS' CAPITAL (DEFICIT)
Limited partners	(159,172)	(710,413)
General Partner	(267,003)	(272,571)
PARTNERS' CAPITAL (DEFICIT)	(426,175)	(982,984)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	$ 400,765	$ 432,455

XML

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 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 (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income
Interest income	$ 2,141	$ 1,719	$ 5,391	$ 2,448
Other income	0	0	40,497	142,163
Total income	2,141	1,719	45,888	144,611
Gain on disposition of Operating Partnerships	0	4,999	1,017,868	3,235,667
Expenses
Professional fees	31,534	43,711	32,963	45,203
Fund management fee, net (Note C)	13,986	24,656	6,246	30,407
General and administrative expenses	61,797	62,685	169,740	185,276
Total expenses	107,317	131,052	208,949	260,886
NET INCOME (LOSS)	(105,176)	(124,334)	854,807	3,119,392
Net income (loss) allocated to assignees	(104,124)	(123,091)	846,259	3,088,198
Net income (loss) allocated to general partner	$ (1,052)	$ (1,243)	$ 8,548	$ 31,194
Net income (loss) per BAC	$ 0.00	$ 0.00	$ 0.01	$ 0.04
Series 20
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 21
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 22
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 23
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 24
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 25
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 26
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 27
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 28
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 29
Income
Interest income	$ 0	$ 109	$ 459	$ 132
Other income	0	0	16,876	0
Total income	0	109	17,335	132
Gain on disposition of Operating Partnerships	0	0	430,628	0
Expenses
Professional fees	0	7,737	310	8,036
Fund management fee, net (Note C)	0	1,128	0	2,256
General and administrative expenses	0	18,393	90,173	33,028
Total expenses	0	27,258	90,483	43,320
NET INCOME (LOSS)	0	(27,149)	357,480	(43,188)
Net income (loss) allocated to assignees	0	(26,877)	353,905	(42,756)
Net income (loss) allocated to general partner	$ 0	$ (272)	$ 3,575	$ (432)
Net income (loss) per BAC	$ 0	$ (0.01)	$ 0.09	$ (0.01)
Series 30
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 31
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 32
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 33
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 34
Income
Interest income	$ 98	$ 80	$ 232	$ 97
Other income	0	0	0	0
Total income	98	80	232	97
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	12,616	6,537	13,425	6,836
Fund management fee, net (Note C)	4,623	1,623	6,246	6,246
General and administrative expenses	30,945	14,730	40,043	26,155
Total expenses	48,184	22,890	59,714	39,237
NET INCOME (LOSS)	(48,086)	(22,810)	(59,482)	(39,140)
Net income (loss) allocated to assignees	(47,605)	(22,582)	(58,887)	(38,749)
Net income (loss) allocated to general partner	$ (481)	$ (228)	$ (595)	$ (391)
Net income (loss) per BAC	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.01)
Series 35
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 36
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 37
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 38
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 39
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 40
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 41
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 42
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 43
Income
Interest income	$ 0	$ 0	$ 0	$ 0
Other income	0	0	0	0
Total income	0	0	0	0
Gain on disposition of Operating Partnerships	0	0	0	0
Expenses
Professional fees	0	0	0	0
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	0
Total expenses	0	0	0	0
NET INCOME (LOSS)	0	0	0	0
Net income (loss) allocated to assignees	0	0	0	0
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 0
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0
Series 44
Income
Interest income	$ 0	$ 0	$ 0	$ 437
Other income	0	0	0	81,588
Total income	0	0	0	82,025
Gain on disposition of Operating Partnerships	0	0	0	1,746,178
Expenses
Professional fees	0	0	0	298
Fund management fee, net (Note C)	0	0	0	0
General and administrative expenses	0	0	0	72,685
Total expenses	0	0	0	72,983
NET INCOME (LOSS)	0	0	0	1,755,220
Net income (loss) allocated to assignees	0	0	0	1,737,668
Net income (loss) allocated to general partner	$ 0	$ 0	$ 0	$ 17,552
Net income (loss) per BAC	$ 0	$ 0	$ 0	$ 0.65
Series 45
Income
Interest income	$ 0	$ 890	$ 0	$ 1,034
Other income	0	0	0	58,183
Total income	0	890	0	59,217
Gain on disposition of Operating Partnerships	0	4,999	0	1,410,868
Expenses
Professional fees	0	16,437	0	16,735
Fund management fee, net (Note C)	0	3,970	0	3,970
General and administrative expenses	0	16,102	0	29,051
Total expenses	0	36,509	0	49,756
NET INCOME (LOSS)	0	(30,620)	0	1,420,329
Net income (loss) allocated to assignees	0	(30,314)	0	1,406,126
Net income (loss) allocated to general partner	$ 0	$ (306)	$ 0	$ 14,203
Net income (loss) per BAC	$ 0	$ (0.01)	$ 0	$ 0.35
Series 46
Income
Interest income	$ 2,043	$ 640	$ 4,700	$ 748
Other income	0	0	23,621	2,392
Total income	2,043	640	28,321	3,140
Gain on disposition of Operating Partnerships	0	0	587,240	78,621
Expenses
Professional fees	18,918	13,000	19,228	13,298
Fund management fee, net (Note C)	9,363	17,935	0	17,935
General and administrative expenses	30,852	13,460	39,524	24,357
Total expenses	59,133	44,395	58,752	55,590
NET INCOME (LOSS)	(57,090)	(43,755)	556,809	26,171
Net income (loss) allocated to assignees	(56,519)	(43,318)	551,241	25,909
Net income (loss) allocated to general partner	$ (571)	$ (437)	$ 5,568	$ 262
Net income (loss) per BAC	$ (0.02)	$ (0.01)	$ 0.19	$ 0.01

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	$ (225,426)	$ 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, 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	(225,426)	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)
Net income (loss)			0			0			0			0			0			0			0			0			0			(43,188)			0			0			0			0			(39,140)			0			0			0			0			0			0			0			0			0			1,755,220			1,420,329			26,171			3,119,392
Partners' capital (deficit), Ending balance at Sep. 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	(2,672,433)	(369,062)	(3,041,495)	(883,119)	883,119	0	353,529	(353,529)	0	380,821	(380,821)	0	196,294	(196,294)	0	(2,120,857)	(324,846)	(2,445,703)	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	917,320	(347,969)	569,351	(1,049,701)	(275,998)	(1,325,699)	(7,165,983)	922,437	(6,243,546)
Partners' capital (deficit), Beginning 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)
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	(26,877)	(272)	(27,149)	0	0	0	0	0	0	0	0	0	0	0	0	(22,582)	(228)	(22,810)	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	(30,314)	(306)	(30,620)	(43,318)	(437)	(43,755)	(123,091)	(1,243)	(124,334)
Partners' capital (deficit), Ending balance at Sep. 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	(2,672,433)	(369,062)	(3,041,495)	(883,119)	883,119	0	353,529	(353,529)	0	380,821	(380,821)	0	196,294	(196,294)	0	(2,120,857)	(324,846)	(2,445,703)	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	917,320	(347,969)	569,351	(1,049,701)	(275,998)	(1,325,699)	(7,165,983)	922,437	(6,243,546)
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)
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)
Net income (loss)			0			0			0			0			0			0			0			0			0			357,480			0			0			0			0			(59,482)			0			0			0			0			0			0			0			0			0			0			0			556,809			854,807
Partners' capital (deficit), Ending balance at Sep. 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	(2,208,537)	(325,732)	(2,534,269)	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	(159,172)	(267,003)	(426,175)	(6,600,662)	3,640,218	(2,960,444)
Partners' capital (deficit), Beginning 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)
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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(47,605)	(481)	(48,086)	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	(56,519)	(571)	(57,090)	(104,124)	(1,052)	(105,176)
Partners' capital (deficit), Ending balance at Sep. 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	$ (2,208,537)	$ (325,732)	$ (2,534,269)	$ 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	$ (159,172)	$ (267,003)	$ (426,175)	$ (6,600,662)	$ 3,640,218	$ (2,960,444)

XML

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income (loss)	$ 854,807	$ 3,119,392
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	(1,017,868)	(3,235,667)
Changes in assets and liabilities
(Increase) Decrease in other assets	2,828	(198)
(Decrease) Increase in accounts payable and accrued expenses	0	1
(Decrease) Increase in accounts payable affiliates	(965,676)	(1,418,723)
Net cash (used in) provided by operating activities	(1,125,909)	(1,535,195)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	1,017,083	3,235,667
Net cash provided by investing activities	1,017,083	3,235,667
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	(108,826)	(1,256,983)
Cash and cash equivalents, beginning	508,245	2,370,898
Cash and cash equivalents, ending	399,419	1,113,915
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	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	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	(43,188)
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	(28)
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	(406,423)	2,256
Net cash (used in) provided by operating activities	(476,989)	(40,960)
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)	(40,960)
Cash and cash equivalents, beginning	47,146	108,768
Cash and cash equivalents, ending	0	67,808
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)	(59,482)	(39,140)
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	54	(28)
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	29,246	9,246
Net cash (used in) provided by operating activities	(30,182)	(29,922)
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	(30,182)	(29,922)
Cash and cash equivalents, beginning	31,891	81,705
Cash and cash equivalents, ending	1,709	51,783
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	1,420,329
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Gain on disposition of Operating Partnerships	0	(1,410,868)
Changes in assets and liabilities
(Increase) Decrease in other assets	0	(29)
(Decrease) Increase in accounts payable and accrued expenses	0	0
(Decrease) Increase in accounts payable affiliates	0	(1,130,104)
Net cash (used in) provided by operating activities	0	(1,120,672)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships	0	1,410,868
Net cash provided by investing activities	0	1,410,868
Cash flows from financing activities:
Distributions	0	0
Net cash used in financing activities	0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	290,196
Cash and cash equivalents, beginning	0	287,530
Cash and cash equivalents, ending	0	577,726
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)	556,809	26,171
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	192	(113)
(Decrease) Increase in accounts payable and accrued expenses	0	1
(Decrease) Increase in accounts payable affiliates	(588,499)	(271,852)
Net cash (used in) provided by operating activities	(618,738)	(324,414)
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	(31,498)	(245,793)
Cash and cash equivalents, beginning	429,208	662,391
Cash and cash equivalents, ending	397,710	416,598
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

XML

ORGANIZATION

6 Months Ended

Sep. 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

6 Months Ended

Sep. 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 September 30, 2023 and for the three and six 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

6 Months Ended

Sep. 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 September 30, 2023 and 2022, are as follows:

	2023		2022
Series 29	$	—	$	1,128
Series 34		4,623		4,623
Series 45		—		3,970
Series 46		9,363		18,735
	$	13,986	$	28,456

The fund management fees paid for the six months ended September 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 six months ended September 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.

XML

INVESTMENTS IN OPERATING PARTNERSHIPS

6 Months Ended

Sep. 30, 2023

INVESTMENTS IN OPERATING PARTNERSHIPS

INVESTMENTS IN OPERATING PARTNERSHIPS

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS

At September 30, 2023 and 2022, the Fund has limited partnership interests in 3 and 7 Operating Partnerships, respectively, which own or are constructing apartment complexes.

The breakdown of Operating Partnerships within the Fund at September 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	—	1
Series 46	2	4
	3	7

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 September 30, 2023 and 2022, are as follows:

	2023		2022
Series 29	$	—	$	785

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

During the six months ended September 30, 2023 the Fund disposed of two Operating Partnerships. A summary of the dispositions by series for September 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 contributions payable as of September 30, 2023, for Series 29.

During the six months ended September 30, 2022 the Fund disposed of seven Operating Partnerships. A summary of the dispositions by series for September 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	1	2		1,410,868		1,410,868
Series 46	3	—		78,621		78,621
Total	4	3	$	3,235,667	$	3,235,667

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 six months ended June 30, 2023.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

	2023		2022
Revenues
Rental	$	753,172	$	1,273,851
Interest and other		15,959		33,464
		769,131		1,307,315
Expenses
Interest		77,827		202,002
Depreciation and amortization		155,336		311,636
Operating expenses		543,904		995,009
		777,067		1,508,647
NET INCOME (LOSS)	$	(7,936)	$	(201,332)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	(7,857)	$	(199,319)
Net income (loss) allocated to other Partners	$	(79)	$	(2,013)

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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(Unaudited)

Series 29

	2023		2022
Revenues
Rental	$	—	$	162,975
Interest and other		—		—
		—		162,975
Expenses
Interest		—		12,230
Depreciation and amortization		—		27,154
Operating expenses		—		159,531
		—		198,915
NET INCOME (LOSS)	$	—	$	(35,940)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	(35,581)
Net income (loss) allocated to other Partners	$	—	$	(359)

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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(Unaudited)

Series 34

	2023		2022
Revenues
Rental	$	313,380	$	297,031
Interest and other		11,974		17,954
		325,354		314,985
Expenses
Interest		41,931		42,952
Depreciation and amortization		44,215		43,289
Operating expenses		225,447		184,147
		311,593		270,388
NET INCOME (LOSS)	$	13,761	$	44,597
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	13,623	$	44,151
Net income (loss) allocated to other Partners	$	138	$	446

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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(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

Six Months Ended June 30,

(Unaudited)

Series 45

	2023		2022
Revenues
Rental	$	—	$	66,559
Interest and other		—		823
		—		67,382
Expenses
Interest		—		21,885
Depreciation and amortization		—		27,408
Operating expenses		—		97,274
		—		146,567
NET INCOME (LOSS)	$	—	$	(79,185)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	(78,393)
Net income (loss) allocated to other Partners	$	—	$	(792)

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

Six Months Ended June 30,

(Unaudited)

Series 46

	2023		2022
Revenues
Rental	$	439,792	$	747,286
Interest and other		3,985		14,687
		443,777		761,973
Expenses
Interest		35,896		124,935
Depreciation and amortization		111,121		213,785
Operating expenses		318,457		554,057
		465,474		892,777
NET INCOME (LOSS)	$	(21,697)	$	(130,804)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	(21,480)	$	(129,496)
Net income (loss) allocated to other Partners	$	(217)	$	(1,308)

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

6 Months Ended

Sep. 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

6 Months Ended

Sep. 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

6 Months Ended

Sep. 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)

6 Months Ended

Sep. 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)

6 Months Ended

Sep. 30, 2023

RELATED PARTY TRANSACTIONS

Schedule of fund management fees accrued

	2023		2022
Series 29	$	—	$	1,128
Series 34		4,623		4,623
Series 45		—		3,970
Series 46		9,363		18,735
	$	13,986	$	28,456

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)

6 Months Ended

Sep. 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	—	1
Series 46	2	4
	3	7

Schedule of contributions payable

	2023		2022
Series 29	$	—	$	785

Summary of dispositions by series

During the six months ended September 30, 2023 the Fund disposed of two Operating Partnerships. A summary of the dispositions by series for September 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 contributions payable as of September 30, 2023, for Series 29.

During the six months ended September 30, 2022 the Fund disposed of seven Operating Partnerships. A summary of the dispositions by series for September 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	1	2		1,410,868		1,410,868
Series 46	3	—		78,621		78,621
Total	4	3	$	3,235,667	$	3,235,667

Schedule of summarized statement of operations in operating partnerships.

	2023		2022
Revenues
Rental	$	753,172	$	1,273,851
Interest and other		15,959		33,464
		769,131		1,307,315
Expenses
Interest		77,827		202,002
Depreciation and amortization		155,336		311,636
Operating expenses		543,904		995,009
		777,067		1,508,647
NET INCOME (LOSS)	$	(7,936)	$	(201,332)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	(7,857)	$	(199,319)
Net income (loss) allocated to other Partners	$	(79)	$	(2,013)

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	$	—	$	162,975
Interest and other		—		—
		—		162,975
Expenses
Interest		—		12,230
Depreciation and amortization		—		27,154
Operating expenses		—		159,531
		—		198,915
NET INCOME (LOSS)	$	—	$	(35,940)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	(35,581)
Net income (loss) allocated to other Partners	$	—	$	(359)

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	$	313,380	$	297,031
Interest and other		11,974		17,954
		325,354		314,985
Expenses
Interest		41,931		42,952
Depreciation and amortization		44,215		43,289
Operating expenses		225,447		184,147
		311,593		270,388
NET INCOME (LOSS)	$	13,761	$	44,597
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	13,623	$	44,151
Net income (loss) allocated to other Partners	$	138	$	446

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	$	—	$	66,559
Interest and other		—		823
		—		67,382
Expenses
Interest		—		21,885
Depreciation and amortization		—		27,408
Operating expenses		—		97,274
		—		146,567
NET INCOME (LOSS)	$	—	$	(79,185)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	—	$	(78,393)
Net income (loss) allocated to other Partners	$	—	$	(792)

Series 46

	2023		2022
Revenues
Rental	$	439,792	$	747,286
Interest and other		3,985		14,687
		443,777		761,973
Expenses
Interest		35,896		124,935
Depreciation and amortization		111,121		213,785
Operating expenses		318,457		554,057
		465,474		892,777
NET INCOME (LOSS)	$	(21,697)	$	(130,804)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	$	(21,480)	$	(129,496)
Net income (loss) allocated to other Partners	$	(217)	$	(1,308)

XML

ORGANIZATION - BACs sold and total equity raised by series (Details) - USD ($)	6 Months Ended
	Sep. 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
	Sep. 30, 2023	Sep. 30, 2022
RELATED PARTY TRANSACTIONS
Gross Fund Management Fee	$ 13,986	$ 28,456
Series 29
RELATED PARTY TRANSACTIONS
Gross Fund Management Fee	0	1,128
Series 34
RELATED PARTY TRANSACTIONS
Gross Fund Management Fee	4,623	4,623
Series 45
RELATED PARTY TRANSACTIONS
Gross Fund Management Fee	0	3,970
Series 46
RELATED PARTY TRANSACTIONS
Gross Fund Management Fee	$ 9,363	$ 18,735

XML

RELATED PARTY TRANSACTIONS - Fund management fees paid (Details) - USD ($)	6 Months Ended
	Sep. 30, 2023	Sep. 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)	6 Months Ended
	Sep. 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	Sep. 30, 2023	Sep. 30, 2022
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	3	7
Series 29
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships		1
Series 34
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	1	1
Series 45
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships		1
Series 46
INVESTMENTS IN OPERATING PARTNERSHIPS
Number of operating partnerships	2	4

XML

INVESTMENTS IN OPERATING PARTNERSHIPS - Contributions payable (Details) - USD ($)	Sep. 30, 2023	Mar. 31, 2023	Sep. 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)	6 Months Ended
	Sep. 30, 2023 USD ($) item	Sep. 30, 2022 USD ($) Partnership item
INVESTMENTS IN OPERATING PARTNERSHIPS
Operating partnership interest transferred | item	0	4
Sale of underlying operating partnership | item	2	3
Fund proceeds from disposition	$ 1,017,083	$ 3,235,667
Gain on Disposition	$ 1,017,868	$ 3,235,667
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		1
Sale of underlying operating partnership | Partnership		2
Fund proceeds from disposition		$ 1,410,868
Gain on Disposition		$ 1,410,868
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 ($)	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Revenues
Rental	$ 753,172	$ 1,273,851
Interest and other	15,959	33,464
Operating Partnerships Revenues	769,131	1,307,315
Expenses
Interest	77,827	202,002
Depreciation and amortization	155,336	311,636
Operating expenses	543,904	995,009
Operating Partnerships Total Expenses	777,067	1,508,647
NET INCOME (LOSS)	(7,936)	(201,332)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	(7,857)	(199,319)
Net income (loss) allocated to other Partners	(79)	(2,013)
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	162,975
Interest and other	0
Operating Partnerships Revenues	0	162,975
Expenses
Interest	0	12,230
Depreciation and amortization	0	27,154
Operating expenses	0	159,531
Operating Partnerships Total Expenses	0	198,915
NET INCOME (LOSS)	0	(35,940)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	(35,581)
Net income (loss) allocated to other Partners	0	(359)
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	313,380	297,031
Interest and other	11,974	17,954
Operating Partnerships Revenues	325,354	314,985
Expenses
Interest	41,931	42,952
Depreciation and amortization	44,215	43,289
Operating expenses	225,447	184,147
Operating Partnerships Total Expenses	311,593	270,388
NET INCOME (LOSS)	13,761	44,597
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	13,623	44,151
Net income (loss) allocated to other Partners	138	446
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	66,559
Interest and other	0	823
Operating Partnerships Revenues	0	67,382
Expenses
Interest	0	21,885
Depreciation and amortization	0	27,408
Operating expenses	0	97,274
Operating Partnerships Total Expenses	0	146,567
NET INCOME (LOSS)	0	(79,185)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	0	(78,393)
Net income (loss) allocated to other Partners	0	(792)
Series 46
Revenues
Rental	439,792	747,286
Interest and other	3,985	14,687
Operating Partnerships Revenues	443,777	761,973
Expenses
Interest	35,896	124,935
Depreciation and amortization	111,121	213,785
Operating expenses	318,457	554,057
Operating Partnerships Total Expenses	465,474	892,777
NET INCOME (LOSS)	(21,697)	(130,804)
Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P.	(21,480)	(129,496)
Net income (loss) allocated to other Partners	$ (217)	$ (1,308)

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INVESTMENTS IN OPERATING PARTNERSHIPS - Additional Information (Details)	6 Months Ended
	Sep. 30, 2023 USD ($)
Series 29
INVESTMENT IN OPERATING PARTNERSHIPS
Write-off of capital contribution payable	$ 785