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)