FINANCIAL STATEMENTS AND
REPORTS OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRMS
BCTC IV ASSIGNOR CORP.
DECEMBER 31, 2012 and 2011
BCTC IV Assignor Corp.
TABLE OF CONTENTS
PAGE
REPORTS OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRMS 3
FINANCIAL STATEMENT
BALANCE SHEETS 5
NOTES TO BALANCE SHEETS 6
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the President and Chief Financial Officer
BCTC IV Assignor Corp.
We have audited the accompanying balance sheet of BCTC IV Assignor Corp. as of December 31, 2012. BCTC IV Assignor Corp.'s management is responsible for this financial statement. Our responsibility is to express an opinion on this financial statement based on our audit.
We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the balance sheet is free of material misstatement. The Corporation is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Corporation's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the balance sheet, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall balance sheet presentation. We believe that our audit of the balance sheet provides a reasonable basis for our opinion.
In our opinion, the balance sheet referred to above present fairly, in all material respects, the financial position of BCTC IV Assignor Corp. as of December 31, 2012 in conformity with accounting principles generally accepted in the United States of America.
/s/ CohnReznick LLP
Bethesda, Maryland
March 18, 2013
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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the President and Chief Financial Officer
BCTC IV Assignor Corp.
We have audited the accompanying balance sheet of BCTC IV Assignor Corp. as of December 31, 2011. This balance sheet is the responsibility of the Corporation's management. Our responsibility is to express an opinion on this financial statement based on our audit.
We conducted our audit in accordance with standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement. The Corporation has determined that it is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Corporation's internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statement. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the balance sheet referred to above present fairly, in all material respects, the financial position of BCTC IV Assignor Corp. as of December 31, 2011 in conformity with accounting principles generally accepted in the United States of America.
/s/ Reznick Group, P.C.
Bethesda, Maryland
March 15, 2012
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BCTC IV Assignor Corp.
BALANCE SHEET
December 31,
ASSETS |
| 2012 | 2011 |
| | |
Investment in limited partnership (note B) | $ 100 | $ 100 |
| | |
LIABILITY AND STOCKHOLDER'S EQUITY |
| | |
Subscription payable | $ 100 | $ 100 |
| | |
Stockholder's equity | | |
Common stock - 1,000 shares authorized, issued and outstanding, $1 par value per share | 1,000 | 1,000 |
| | |
Less: subscription receivable | (1,000) | (1,000) |
| | |
| - | - |
| | |
| $ 100 | $ 100 |
The accompanying notes are an integral part of these balance sheets.
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BCTC IV Assignor Corp.
NOTES TO BALANCE SHEETS
December 31, 2012 and 2011
NOTE A - ORGANIZATION
BCTC IV Assignor Corp. (the "Corporation") was organized on October 12, 1993 under the laws of the State of Delaware to act as the assignor limited partner of, and to acquire and hold a limited partnership interest in, Boston Capital Tax Credit Fund IV L.P. (the "Limited Partnership"). The Corporation will assign units of beneficial interest in its limited partnership interest to persons who purchase Beneficial Assignee Certificates (BACs), on the basis of one unit of beneficial interest for each BAC. The Corporation will not have any interest in profits, losses or distributions on its own behalf.
NOTE B - INVESTMENT IN LIMITED PARTNERSHIP
On October 12, 1993, the Corporation was admitted as the assignor limited partner in Boston Capital Tax Credit Fund IV L.P. The Limited Partnership was formed to invest in real estate by 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. The Corporation has recorded its $100 investment at cost.
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