American Tax Credit Properties Iii (ATCIIIX) 10-K 27 Jun 14 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Mar. 30, 2014	Jun. 27, 2014
Document and Entity Information	'	'
Entity Registrant Name	'AMERICAN TAX CREDIT PROPERTIES III LP	'
Document Type	'10-K	'
Document Period End Date	30-Mar-14	'
Amendment Flag	'false	'
Entity Central Index Key	'0000856135	'
Current Fiscal Year End Date	'--03-30	'
Entity Common Stock, Shares Outstanding	'	35,883
Entity Filer Category	'Smaller Reporting Company	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Well-known Seasoned Issuer	'No	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'FY	'
Entity Public Float	'	$0

BALANCE_SHEETS

BALANCE SHEETS (USD $)	Mar. 30, 2014	Mar. 30, 2013
BALANCE SHEETS	'	'
Cash and cash equivalents	$115,513	$105,179
Investment in Pemberwick Fund - a short duration bond fund	472,181	757,246
Total cash and liquid investments	587,694	862,425
Due from local partnerships	52,000	'
Total assets	639,694	862,425
Accounts payable and accrued expenses	34,728	156,655
Payable to general partner and affiliates	3,317,783	3,377,641
Total liabilities	3,352,511	3,534,296
Commitments and contingencies	'	'
General partner	-2,713,640	-2,676,971
Limited partners (35,883 units of limited partnership interest outstanding)	'	'
Accumulated other comprehensive income	823	5,100
Total equity (deficit)	-2,712,817	-2,671,871
Total liabilities & equity (deficit)	$639,694	$862,425

BALANCE_SHEETS_PARENTHETICAL

BALANCE SHEETS PARENTHETICAL	Mar. 30, 2014	Mar. 30, 2013
BALANCE SHEETS PARENTHETICAL	'	'
Units of limited partnership interest outstanding	35,883	35,883

STATEMENTS_OF_OPERATIONS

STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
	Mar. 30, 2014	Mar. 30, 2013
STATEMENTS OF OPERATIONS	'	'
Interest	$8,371	$9,999
Other income from local partnerships	150,699	21,668
TOTAL REVENUE	159,070	31,667
Administration fees - affiliate	99,554	140,892
Management fees - affiliate	99,554	140,892
Professional fees	49,404	70,168
Printing, postage and other	19,240	18,444
TOTAL EXPENSES	267,752	370,396
LOSS PRIOR TO GAIN ON SALE OF LIMITED PARTNER INTERESTS/LOCAL PARTNERSHIP PROPERTIES	-106,682	-338,729
GAIN ON SALE OF LIMITED PARTNER INTERESTS/LOCAL PARTNERSHIP PROPERTIES	72,013	320,663
NET LOSS	-36,669	-18,066
General partner net loss	-36,669	-18,066
Limited partners net loss	'	'
NET LOSS per unit of limited partnership interest (35,883 units of limited partnership interest)	'	'

STATEMENTS_OF_COMPREHENSIVE_IN

STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	12 Months Ended
	Mar. 30, 2014	Mar. 30, 2013
STATEMENTS OF COMPREHENSIVE INCOME (LOSS)	'	'
NET LOSS	($36,669)	($18,066)
Other comprehensive income (loss) - Pemberwick Fund	-4,277	9,325
COMPREHENSIVE LOSS	($40,946)	($8,741)

STATEMENTS_OF_CHANGES_IN_PARTN

STATEMENTS OF CHANGES IN PARTNERS' EQUITY (DEFICIT) (USD $)	General Partner	Accumulated Other Comprehensive Income (Loss)	Total
Partners' equity (deficit) at Mar. 30, 2012	($2,658,905)	($4,225)	($2,663,130)
Net loss	-18,066	'	-18,066
Other comprehensive income (loss) - Pemberwick Fund	'	9,325	9,325
Partners' equity (deficit) at Mar. 30, 2013	-2,676,971	5,100	-2,671,871
Net loss	-36,669	'	-36,669
Other comprehensive income (loss) - Pemberwick Fund	'	-4,277	-4,277
Partners' equity (deficit) at Mar. 30, 2014	($2,713,640)	$823	($2,712,817)

STATEMENTS_OF_CASH_FLOWS

STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
	Mar. 30, 2014	Mar. 30, 2013
STATEMENTS OF CASH FLOWS	'	'
Interest received	$8,371	$9,999
Cash paid for administration fees	-230,165	-229,443
Cash paid for management fees	-129,474	-129,449
Cash paid for professional fees	-68,502	-65,751
Cash paid for printing, postage and other expenses	-21,396	-35,602
Net cash used in operating activities	-441,166	-450,246
Investments in Pemberwick Fund	-7,495	-10,729
Redemptions from Pemberwick Fund	288,283	150,971
Proceeds in connection with sale of limited partner interests/local partnership properties	72,013	320,663
Distributions received from local partnerships	98,699	21,668
Net cash provided by investing activities	451,500	482,573
Net increase in cash and cash equivalents	10,334	32,327
Cash and cash equivalents at beginning of year	105,179	72,852
CASH AND CASH EQUIVALENTS AT END OF YEAR	115,513	105,179
Unrealized gain (loss) on investment in Pemberwick Fund	-4,277	9,325
Increase in due from local partnerships included in other income from local partnerships	$52,000	'

STATEMENTS_OF_CASH_FLOWS_CONTI

STATEMENTS OF CASH FLOWS - CONTINUED (USD $)	12 Months Ended
	Mar. 30, 2014	Mar. 30, 2013
STATEMENTS OF CASH FLOWS - CONTINUED	'	'
Net loss	($36,669)	($18,066)
Gain on sale of limited partner interests/local partnership properties	-72,013	-320,663
Other income from local partnerships	-150,699	-21,668
Increase (decrease) in payable to general partner and affiliates	-59,858	22,892
Decrease in accounts payable and accrued expenses	-121,927	-112,741
NET CASH USED IN OPERATING ACTIVITIES	($441,166)	($450,246)

1_Organization_Purpose_and_Sum

1. Organization, Purpose and Summary of Significant Accounting Policies	12 Months Ended
	Mar. 30, 2014
Notes	'
1. Organization, Purpose and Summary of Significant Accounting Policies	'
	1.     Organization, Purpose and Summary of Significant Accounting Policies
	American Tax Credit Properties III L.P. (the "Partnership") was formed on September 21, 1989 and the Certificate of Limited Partnership of the Partnership was filed under the Delaware Revised Uniform Limited Partnership Act. There was no operating activity until admission of the limited partners (the “Limited Partners”) on June 13, 1990. The Partnership was formed to invest primarily in leveraged low-income multifamily residential complexes (the “Property” or “Properties”) that qualified for the low-income housing tax credit (the “Low-income Housing Tax Credit”) in accordance with Section 42 of the Internal Revenue Code (the “IRC”), through the acquisition of limited partner equity interests (the "Local Partnership Interests") in partnerships (the "Local Partnership" or "Local Partnerships") that are the owners of the Properties. Such interests were acquired from 1990 to 1992. Richman Tax Credit Properties III L.P. (the "General Partner") was formed on September 21, 1989 to act as the General Partner of the Partnership.
	Basis of Accounting and Fiscal Year
	The Partnership's records are maintained on the accrual basis of accounting for both financial reporting and tax purposes. For financial reporting purposes, the Partnership's fiscal year ends March 30 and its quarterly periods end June 29, September 29 and December 30. The Local Partnerships have a calendar year for financial reporting purposes. The Partnership and the Local Partnerships each have a calendar year for income tax purposes.
	Investment in Local Partnerships
	The Partnership accounts for its investment in local partnerships in accordance with the equity method of accounting, under which the investment is carried at cost and is adjusted for the Partnership's share of each Local Partnership’s results of operations and by cash distributions received. Equity in loss of each investment in Local Partnership allocated to the Partnership is recognized to the extent of the Partnership’s investment balance in each Local Partnership. Equity in loss in excess of the Partnership’s investment balance in a Local Partnership is allocated to other partners’ capital in any such Local Partnership. Previously unrecognized equity in loss of any Local Partnership is recognized in the fiscal year in which equity in income is earned by such Local Partnership or additional investment is made by the Partnership. Distributions received subsequent to the elimination of an investment balance for any such investment in a Local Partnership are recorded as other income from local partnerships. As a result of cumulative equity losses and distributions and the sale of certain Local Partnerships’ Properties and/or the Partnership’s Local Partnership Interests, the Partnership’s investment in local partnerships reached a zero balance during the year ended March 30, 2011.
	The Partnership assessed the carrying value of its investment in local partnerships at least annually in the fourth quarter of its fiscal year or whenever there were indications that a permanent impairment may have occurred. If the carrying value of an investment in a Local Partnership exceeded the estimated value derived by management, the Partnership reduced its investment in any such Local Partnership (unless the impairment was considered to be temporary) and included such reduction in equity in loss of investment in local partnerships. Impairment was measured by comparing the investment carrying amount to the estimated residual value of the investment.
	The Partnership does not consolidate the accounts and activities of the Local Partnerships, which are considered Variable Interest Entities as defined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 810; Subtopic 10, because the Partnership is not considered the primary beneficiary. The Partnership's balance in investment in local partnerships represents the maximum exposure to loss in connection with such investments. The Partnership's exposure to loss on the Local Partnerships is mitigated by the condition and financial performance of the underlying Properties as well as the financial strength of the local general partners (the “Local General Partners”). In addition, the Local Partnerships’ partnership agreements grant the Local General Partners the power to direct the activities that most significantly impact the Local Partnerships’ economic success. As described above, the Partnership’s investment in local partnerships has a zero balance.
	Advances and additional capital contributions (collectively the “Advances”) that are not required under the terms of the Local Partnerships’ partnership agreements but which are made to the Local Partnerships are recorded as investment in local partnerships. Certain Advances are considered by the Partnership to be voluntary loans to the respective Local Partnerships and the Partnership may be reimbursed at a future date to the extent such Local Partnerships generate distributable cash flow or receive proceeds from sale or refinancing.
	Cash and Cash Equivalents
	The Partnership considers all highly liquid investments purchased with an original maturity of three months or less at the date of acquisition to be cash equivalents. Cash and cash equivalents are stated at cost, which approximates market value.
	Fair Value Measurements
	ASC Topic 820 clarifies the principle that fair value should be based on the assumptions that market participants would use when pricing the asset or liability and establishes the following fair value hierarchy:
	·       Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Partnership has the ability to access;
	·       Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as interest rates and yield curves that are observable at commonly quoted intervals; and
	·       Level 3 inputs are unobservable inputs for the asset or liability that are typically based on an entity’s own assumptions as there is little, if any, related market activity.
	For instances in which the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the fair value measurement will fall within the lowest level input that is significant to the fair value measurement in its entirety.
	Investment in Pemberwick Fund
	The Partnership carries its investment in Pemberwick Fund (“Pemberwick”), an investment grade institutional short duration bond fund, at estimated fair value. Realized capital gains (losses) are included in (offset against) interest revenue. Investment in Pemberwick is classified as available-for-sale and unrealized gains (losses) are included as items of comprehensive income (loss) and are reported as a separate component of partners' equity (deficit).
	Income Taxes
	The Partnership is a pass-through entity for income tax purposes and, as such, is not subject to income taxes. Rather, all items of taxable income and deductions are passed through to and are reported by its partners on their respective income tax returns. The Partnership’s federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, the Partnership is not required to take any tax positions in order to qualify as a pass-through entity. The Partnership is required to file and does file tax returns with the Internal Revenue Service (“IRS”) and other taxing authorities. Income tax returns filed by the Partnership are subject to examination by the IRS for a period of three years. While no Partnership income tax returns are currently being examined by the IRS, tax years subsequent to 2009 remain subject to examination. These financial statements do not reflect a provision for income taxes and the Partnership has no other tax positions which must be considered for disclosure. In accordance with ASC Topic 740; Subtopic 10, the Partnership has included in Note 7 disclosures related to differences in the financial and tax bases of accounting.
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

2_Capital_Contributions

2. Capital Contributions	12 Months Ended
	Mar. 30, 2014
Notes	'
2. Capital Contributions	'
	2.     Capital Contributions
	On March 12, 1990, the Partnership commenced the offering of units (the “Units”) through Merrill Lynch, Pierce, Fenner & Smith Incorporated (the "Selling Agent"). On June 13, 1990, December 27, 1990, December 31, 1991 and January 23, 1992, under the terms of the Amended and Restated Agreement of Limited Partnership of the Partnership (the "Partnership Agreement"), the General Partner admitted the Limited Partners to the Partnership in four closings. At these closings, subscriptions for a total of 35,883 Units representing $35,883,000 in Limited Partners' capital contributions were accepted. In connection with the offering of Units, the Partnership incurred organization and offering costs of $4,418,530, of which $75,000 was capitalized as organization costs and $4,343,530 was charged to the Limited Partners' equity as syndication costs. The General Partner contributed $100 to the Partnership.
	Net loss was allocated 99% to the Limited Partners and 1% to the General Partner in accordance with the Partnership Agreement, until such time as the Limited Partners' capital reached zero as a result of loss allocations, after which all losses have been allocated to the General Partner. The Partnership paid nonresident state withholding taxes of $30,994 on behalf of certain of the Limited Partners in April 2014 in connection with gains recognized by a Local Partnership for the year ended December 31, 2013.

3_Cash_and_Cash_Equivalents

3. Cash and Cash Equivalents	12 Months Ended
	Mar. 30, 2014
Notes	'
3. Cash and Cash Equivalents	'
	3.     Cash and Cash Equivalents
	As of March 30, 2014, the Partnership has $115,513 in cash and cash equivalents. Of such amount, $100,484 is held in accounts at two financial institutions in which such accounts are insured up to $250,000 by the Federal Deposit Insurance Corporation (“FDIC”). The entire amount is FDIC insured as of March 30, 2014. The remaining $15,029 is held in an account at a financial institution in which such amount is invested in a portfolio of securities that are direct obligations of the U.S. Treasury and are backed by the full faith and credit of the United States of America.

4_Investment_in_Pemberwick_Fun

4. Investment in Pemberwick Fund	12 Months Ended
	Mar. 30, 2014
Notes	'
4. Investment in Pemberwick Fund	'
	4.     Investment in Pemberwick Fund
	The Partnership carries its investment in Pemberwick, an investment grade institutional short duration bond fund, at estimated fair value. Pemberwick was organized in February 2010 as a non-diversified open-end management investment company registered under the Investment Company Act of 1940, as amended, that seeks maximum current income consistent with liquidity and stability of principal. In selecting a portfolio of securities for Pemberwick, the investment advisor of Pemberwick (the “Advisor”) will select investments so that Pemberwick’s assets will be rated “A-” or better by a nationally recognized statistical rating organization (“NRSRO”) such as Moody’s Investor Services, Inc. (“Moody’s”) and/or by Standard & Poor’s Financial Services, LLC (“S&P”) (or if commercial paper rated in the highest category) or, if a rating is not available, deemed to be of comparable quality by the Advisor, or securities issued by banking institutions operating in the United States and having assets in excess of $200 billion. Approximately 90% or more of Pemberwick’s assets will either be invested in securities rated AA or better (if commercial paper rated in the highest category) by a NRSRO or in securities of banking institutions operating in the United States and having assets in excess of $200 billion.
	The weighted average duration of Pemberwick’s assets is approximately 1.92 years as of March 30, 2014. Redemptions from Pemberwick are immediately liquid and unrestricted. Pemberwick’s net asset value (“NAV”) is $10.07 and $10.12 per share as of March 30, 2014 and 2013, respectively. The Partnership’s investment in Pemberwick as of March 30, 2014 and 2013 is $472,181 and $757,246, respectively. An unrealized gain of $823 as of March 30, 2014 is reflected as accumulated other comprehensive income in the accompanying balance sheet as of March 30, 2014. The Partnership has earned $37,466 of interest revenue from its investment in Pemberwick as of March 30, 2014. The fair value of the Partnership’s investment in Pemberwick is classified within Level 1 of the fair value hierarchy of the guidance on Fair Value Measurements (see Note 1). Pemberwick’s NAV was $10.09 as of May 31, 2014.
	The Advisor is an affiliate of the General Partner. For its services, the Advisor is entitled to receive an annual advisory fee of 0.50% of the average daily net assets of Pemberwick. The Advisor may, in its discretion, voluntarily waive its fees or reimburse certain Pemberwick expenses; however, the Advisor is not required to do so. The Advisor has waived 70% of its fee earned since Pemberwick’s inception and earned $904 and $1,243 in connection with the Partnership’s investment in Pemberwick for the years ended March 30, 2014 and 2013, respectively, enough to cover its direct costs. The Advisor’s asset management affiliate, Richman Asset Management, Inc. (“RAM”) has agreed to reduce its administration and management fees (see Note 6) payable by the Partnership to the extent any fee of the Advisor payable by Pemberwick would be duplicative of any profit that RAM would receive from the Partnership.

5_Investment_in_Local_Partners

5. Investment in Local Partnerships	12 Months Ended
	Mar. 30, 2014
Notes	'
5. Investment in Local Partnerships	'
	5.     Investment in Local Partnerships
	The Partnership initially acquired a Local Partnership Interest in forty-three Local Partnerships. As of March 30, 2014, the Partnership owns a Local Partnership Interest in the following fifteen Local Partnerships (see discussion below regarding Queen Lane Investors’ sale of its underlying Property during the year ended March 30, 2014 and the Partnership’s sale of its Local Partnership Interests in Union Valley Associates Limited Partnership and Waynesboro Apartments Limited Partnership subsequent to March 30, 2014):
	1	Batesville Family, L.P.;
	2	Chowan Senior Manor Associates Limited Partnership;
	3	Country View Apartments;
	4	Fulton Street Houses Limited Partnership;
	5	Hurlock Meadow Limited Partnership;
	6	Lawrence Road Properties, Ltd.;
	7	Loma Del Norte Limited Partnership;
	8	Long Reach Associates Limited Partnership;
	9	Nash Hill Associates, Limited Partnership;
	10	Purvis Heights Properties, L.P.;
	11	Queen Lane Investors (“Queen Lane”);
	12	Sugar Cane Villas, Ltd. (“Sugar Cane Villas”);
	13	Summerfield Apartments Limited Partnership;
	14	Union Valley Associates Limited Partnership (“Union Valley”); and
	15	Waynesboro Apartments Limited Partnership (“Waynesboro”)
	Although the Partnership generally owns a 99% Local Partnership Interest in the remaining Local Partnerships, the Partnership acquired along with American Tax Credit Properties II L.P. ("ATCP II"), an investment partnership whose general partner is an affiliate of the General Partner, a 99% Local Partnership Interest in the following Local Partnerships:
			The Partnership	ATCP II
		Batesville Family, L.P.	61.75%	37.25%
		Lawrence Road Properties, Ltd.	61.75	37.25
		Purvis Heights Properties, L.P.	61.75	37.25
		Queen Lane Investors	48.5	50.5
	In connection with the initial purchase of forty-three Local Partnership Interests, under the terms of the partnership agreement of each Local Partnership, as of March 30, 2014 the Partnership is committed to make capital contributions in the aggregate of $29,384,966, which includes Advances to a certain Local Partnership, and all of which has been paid.
	The remaining Properties are principally comprised of subsidized and leveraged low-income multifamily residential complexes located throughout the United States. The required holding period of each Property, in order to avoid Low-income Housing Tax Credit recapture, is fifteen years from the year in which the Low-income Housing Tax Credits commence on the last building of the Property (the "Compliance Period"). The Compliance Periods of all the Local Partnerships expired in a prior year. The rents of the Properties, certain of which receive project based rental subsidy payments pursuant to subsidy agreements, are subject to specific laws, regulations and agreements with federal and state agencies. The subsidies expire at various times. The Partnership cannot predict legislative initiatives and governmental budget negotiations, the outcome of which could result in a reduction in funds available for the various federal and state administered housing programs. Such changes could adversely affect the future net operating income and debt structure of the Local Partnerships receiving such subsidies. As of December 31, 2013, the Local Partnerships have outstanding mortgage loans payable totaling approximately $31,589,000 and accrued interest payable on such loans totaling approximately $1,089,000, which are secured by security interests and liens common to mortgage loans on the Local Partnerships' real property and other assets.
	During the year ended March 30, 2014, the Partnership sold its Local Partnership Interests in LaBelle Commons, Ltd. and Moore Haven Commons, Ltd. to an unaffiliated third party for a total of $49,810; such amount is included in gain on sale of limited partner interests/local partnership properties in the accompanying statement of operations and comprehensive income (loss) of the Partnership for the year ended March 30, 2014. Such Local Partnerships have the same Local General Partners.
	During the year ended March 30, 2014, Queen Lane sold its underlying Property to its first mortgage lender under the terms of an Option to Purchase and Right of First Offer, in connection with which Queen Lane recognized a gain of $2,042,871; such amount is reflected as gain on sale of property in the combined statement of operations of the Local Partnerships for the year ended December 31, 2013 herein Note 5. The Partnership received no proceeds in connection with the sale. The Local General Partner of Queen Lane intends to dissolve Queen Lane as soon as possible.
	During the year ended March 30, 2014, the Partnership assigned its Local Partnership Interest in Sydney Engel Associates L.P. (“Sydney Engel”) to an affiliate of the Local General Partner of Sydney Engel. There were no proceeds received by the Partnership in connection with the assignment.
	During the year ended March 30, 2014, the Partnership sold its Local Partnership Interest in Ellinwood Heights Apartments, L.P. (“Ellinwood Heights”) to an affiliate of the Local General Partner of Ellinwood Heights. Although the Partnership received no proceeds in connection with the sale, the Partnership received $7,500 for distributions that were due to the Partnership under the terms of the Ellinwood Heights partnership agreement; such amount is included in other income from local partnerships in the accompanying statement of operations and comprehensive income (loss) of the Partnership for the year ended March 30, 2014 (see Note 1).
	During the year ended March 30, 2014, the Partnership sold its Local Partnership Interests in Auburn Family, L.P., Bay Springs Elderly, L.P., Bruce Housing Associates, L.P. (“Bruce Housing”), Ivy Family, L.P. (“Ivy Family”), North Calhoun City, L.P., Walnut Grove Family, L.P. and West Calhoun City, L.P. to an affiliate of the Local General Partner of such Local Partnerships for a total of $22,203; such amount is included in gain on sale of limited partner interests/local partnership properties in the accompanying statement of operations and comprehensive income (loss) of the Partnership for the year ended March 30, 2014. In addition, the Partnership received $55,442 for distributions that were due to the Partnership under the terms of the partnership agreements of such Local Partnerships; such amount is included in other income from local partnerships in the accompanying statement of operations and comprehensive income (loss) of the Partnership for the year ended March 30, 2014 (see Note 1). Such Local Partnerships have the same Local General Partner. The 99% Local Partnership Interests in Bruce Housing and Ivy Family were acquired along with ATCP II (see discussion above herein Note 5), whereby Registrant owned 61.75%. ATCP II sold its interest in Bruce Housing and Ivy Family as part of the same transaction.
	During the year ended March 30, 2014, the Partnership sold its Local Partnership Interests in Desarrollos de Belen Limited Partnership and Desarrollos de Emaus Limited Partnership to an affiliate of the Local General Partner of such Local Partnerships. Although the Partnership received no proceeds in connection with the sale, the Partnership received $52,000 in April 2014 for distributions that were due to the Partnership under the terms of the partnership agreements of such Local Partnerships. Such amount is reflected as due from local partnerships in the accompanying balance sheet of the Partnership as of March 30, 2014 and is included in other income from local partnerships in the accompanying statement of operations and comprehensive income (loss) of the Partnership for the year then ended (see Note 1). Such Local Partnerships have the same Local General Partner.
	The Local General Partner of Sugar Cane Villas reports that Sugar Cane Villas’ mortgage lender, which also provided project based rental assistance to Sugar Cane Villas under the terms of a contract subject to annual renewals, did not renew the rental assistance upon expiration of the current contract, without which Sugar Cane Villas is unable to make the mandatory debt service payments required under the terms of its mortgages. Such non-renewal is permitted under the terms of the contract. As a result, the lender commenced a foreclosure action and the applicable jurisdiction issued a Final Judgment of Foreclosure in May 2014. The underlying Property is scheduled for a public sale on June 27, 2014.
	During the year ended March 30, 2013, the Partnership sold its Local Partnership Interests in April Gardens Apartments II Limited Partnership, Brisas del Mar Apartments Limited Partnership, Mirador del Toa Limited Partnership (“Mirador del Toa”) and Puerta del Mar Limited Partnership to affiliates of the Local General Partners of such Local Partnerships for a total of $207,301; such amount is included in gain on sale of limited partner interests/local partnership properties in the accompanying statement of operations and comprehensive income (loss) of the Partnership for the year ended March 30, 2013. Such Local Partnerships have the same Local General Partner. The 99% Local Partnership Interest in Mirador del Toa was acquired along with ATCP II (see discussion above herein Note 5), whereby the Partnership owned 59.06%; ATCP II sold its interest in Mirador del Toa as part of the same transaction.
	During the year ended March 30, 2013, the Partnership sold its Local Partnership Interest in Hayes Run Limited Partnership (“Hayes Run”) to an affiliate of the Local General Partner of Hayes Run for $67,500; such amount is included in gain on sale of limited partner interests/local partnership properties in the accompanying statement of operations and comprehensive income (loss) of the Partnership for the year ended March 30, 2013.
	During the year ended March 30, 2013, the Partnership sold its Local Partnership Interest in Howard L. Miller Sallisaw Apartments II, L.P. (“Sallisaw”) to an affiliate of the Local General Partner of Sallisaw for $27,272; such amount is included in gain on sale of limited partner interests/local partnership properties in the accompanying statement of operations and comprehensive income (loss) of the Partnership for the year ended March 30, 2013.
	During the year ended March 30, 2013, the Partnership sold its Local Partnership Interest in Somerset Manor, Ltd. (“Somerset Manor”) to an unaffiliated third party for $18,590; such amount is included in gain on sale of limited partner interests/local partnership properties in the accompanying statement of operations and comprehensive income (loss) of the Partnership for the year ended March 30, 2013.
	Equity in loss of investment in local partnerships is limited to the Partnership’s investment balance in each Local Partnership; any excess is applied to other partners' capital in any such Local Partnership (see Note 1). The amount of such excess losses applied to other partners' capital was $1,006,176 and $1,562,247 for the years ended December 31, 2013 and 2012, respectively, as reflected in the combined statements of operations of the Local Partnerships herein Note 5.
	The Partnership’s investment in local partnerships reached a zero balance during the year ended March 30, 2011 (see Note 1). The amounts reflected as the Partnership’s investment balance in the combined balance sheets of the Local Partnerships herein Note 5 represent cumulative carrying value adjustments made by the Partnership (see Note 1).
	In April 2014, the Partnership sold its Local Partnership Interests in Union Valley and Waynesboro to an affiliate of the Local General Partners of such Local Partnerships. Although the Partnership received no proceeds in connection with the sale, the Partnership received $20,000 for distributions that were due to the Partnership under the terms of the partnership agreements of such Local Partnerships. Such amount will be recorded as other income from local partnerships (see Note 1). Such Local Partnerships have a common Local General Partner.
	The combined balance sheets of the Local Partnerships as of December 31, 2013 and 2012 and the combined statements of operations of the Local Partnerships for the years then ended are reflected on pages 31 and 32, respectively. The combined balance sheets of the Local Partnerships as of December 31, 2013 and 2012 do not include any balances in connection with the Local Partnerships in which the Partnership no longer owns an interest as of such dates, while the combined statements of operations of the Local Partnerships for the years then ended include the results of operations of such Local Partnerships for the period prior to the sales or other dispositions (see discussion above herein Note 5).
	The combined balance sheets of the Local Partnerships as of December 31, 2013 and 2012 are as follows:
		2013	2012
	ASSETS
	Cash and cash equivalents	$       834,672	$    1,044,375
	Rents receivable	161,197	272,559
	Escrow deposits and reserves	2,516,017	3,621,740
	Land	1,540,423	2,057,621
	Buildings and improvements (net of accumulated depreciation of $31,626,053 and $50,028,530)	16,975,809	28,113,698
	Intangible assets (net of accumulated amortization of $100,693 and $348,743)	13,007	227,848
	Other assets	617,452	1,036,422
	Total assets	$   22,658,577	$   36,374,263
	LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
	Liabilities
	Accounts payable and accrued expenses	$       339,171	$       660,725
	Due to related parties	3,328,459	3,832,960
	Mortgage loans	31,588,586	53,688,628
	Accrued interest	1,088,936	2,281,499
	Other liabilities	370,983	598,027
	Total liabilities	36,716,135	61,061,839
	Partners' equity (deficit)
	American Tax Credit Properties III L.P.
	Capital contributions, net of distributions	9,251,695	11,870,938
	Cumulative loss	-8,585,297	-11,204,540
Total American Tax Credit Properties III L.P.	666,398	666,398
General partners and other limited partners
Capital contributions, net of distributions	-1,534,297	-290,162
Cumulative loss	-13,189,659	-25,063,812
Total General partners and other limited partners	-14,723,956	-25,353,974
Total equity (deficit)	-14,057,558	-24,687,576
Total liabilities & equity (deficit)	$   22,658,577	$   36,374,263
The combined statements of operations of the Local Partnerships for the years ended December 31, 2013 and 2012 are as follows:
	2013	2012
REVENUE
Rental	$     8,293,056	$   10,039,996
Interest and other	196,280	189,456
Total Revenue	8,489,336	10,229,452
EXPENSES
Administrative	1,810,878	2,562,054
Utilities	1,079,522	1,235,631
Operating and maintenance	2,042,765	2,606,779
Taxes and insurance	894,982	1,009,534
Financial	1,273,593	1,550,580
Depreciation and amortization	2,424,298	2,955,443
Total Expenses	9,526,038	11,920,021
LOSS BEFORE GAIN ON SALE OF PROPERTY	-1,036,702	-1,690,569
GAIN ON SALE OF PROPERTY	2,042,871	--
NET INCOME (LOSS)	$     1,006,169	$    (1,690,569)
NET INCOME (LOSS) ATTRIBUTABLE TO
American Tax Credit Properties III L.P.	$                    --	$                    --
General partners and other limited partners (includes $1,006,176 and $1,562,247 of Partnership losses in excess of investment and specially allocated income of $1,017,912 and $177,070)	1,006,169	-1,690,569
	$     1,006,169	$    (1,690,569)

6_Transactions_With_General_Pa

6. Transactions With General Partner and Affiliates	12 Months Ended
	Mar. 30, 2014
Notes	'
6. Transactions With General Partner and Affiliates	'
	6.     Transactions with General Partner and Affiliates
	Pursuant to the terms of the Partnership Agreement, the Partnership incurs an annual management fee (the “Management Fee”) and an annual additional management fee (the “Additional Management Fee”) payable to the General Partner for its services in connection with the management of the affairs of the Partnership. The annual Management Fee is equal to the greater of $100,000 or .14% of Invested Assets (as such term is defined in the Partnership Agreement), while the annual Additional Management Fee is equal to .06% of Invested Assets. The cumulative total of the management fees and administration fees (see discussion below herein Note 6) is limited to 0.5% of Invested Assets. The Partnership incurred Management Fees of $83,064 and $100,000 for the years ended March 30, 2014 and 2013, respectively, and Additional Management Fees of $16,490 and $40,892 for the years ended March 30, 2014 and 2013, respectively. Such amounts are aggregated and reflected under the caption management fees - affiliate in the accompanying statements of operations and comprehensive income (loss). Unpaid Management Fees and Additional Management Fees in the cumulative amount of $1,660,010 and $1,689,930 are included in payable to general partner and affiliates in the accompanying balance sheets as of March 30, 2014 and 2013, respectively.
	In addition, pursuant to the terms of the Partnership Agreement, the Partnership is authorized to contract for administrative services provided to the Partnership. From the inception of the Partnership through November 23, 1999, such administrative services were provided by ML Fund Administrators Inc. (“MLFA”), an affiliate of the Selling Agent, pursuant to an Administrative Services Agreement. MLFA resigned the performance of its basic services under the Administrative Services Agreement effective November 23, 1999, with certain transitional services continued through April 30, 2000. The General Partner transitioned the administrative services to RAM without any changes to the terms of the Administrative Services Agreement. Pursuant to such agreement, the Partnership incurs an annual administration fee (the “Administration Fee”) and an annual additional administration fee (the “Additional Administration Fee”) for administrative services provided to the Partnership. The annual Administration Fee is equal to the greater of $100,000 or .14% of Invested Assets, while the annual Additional Administration Fee is equal to .06% of Invested Assets. The cumulative total of the administration fees and management fees is limited as described above herein Note 6. The Partnership incurred Administration Fees of $83,064 and $100,000 for the years ended March 30, 2014 and 2013, respectively, and Additional Administration Fees of $16,490 and $40,892 for the years ended March 30, 2014 and 2013, respectively. Such amounts are aggregated and reflected under the caption administration fees - affiliate in the accompanying statements of operations and comprehensive income (loss). Unpaid Administration Fees due to MLFA in the amount of $100,673 are included in accounts payable and accrued expenses in the accompanying balance sheet as of March 30, 2013; such amount was paid during the year ended March 30, 2014. Unpaid Administration Fees and Additional Administration Fees due to RAM in the cumulative amount of $1,657,773 and $1,687,711 are included in due to general partner and affiliates in the accompanying balance sheets as of March 30, 2014 and 2013, respectively.
	The amount reflected above as due to MLFA and certain amounts due to the General Partner and RAM as of March 30, 2013 were payable pursuant to the terms of an agreement between the Partnership, the General Partner and MLFA (the “Deferred Fee Agreement”). Such amounts were payable to the extent proceeds from the sales of limited partner interests/local partnership properties became available, as described in the Deferred Fee Agreement. Such terms were met during the year ended March 30, 2014.

7_Taxable_Income_Loss

7. Taxable Income (Loss)	12 Months Ended
	Mar. 30, 2014
Notes	'
7. Taxable Income (Loss)	'
	7.     Taxable Income (Loss)
	A reconciliation of the financial statement net loss of the Partnership for the years ended March 30, 2014 and 2013 to the tax return income (loss) for the years ended December 31, 2013 and 2012 is as follows:
		2014	2013
	Financial statement net loss for the years ended March 30, 2014 and 2013	($36,669)	($18,066)
	Add (less) net transactions occurring between
	January 1, 2012 and March 30, 2012	--	-98,124
	January 1, 2013 and March 30, 2013	-96,256	96,256
	January 1, 2014 and March 30, 2014	-117,510	--
	Adjusted financial statement net loss for the years ended December 31, 2013 and 2012	-250,435	-19,934
	Management Fees and Administration Fees deductible for tax purposes when paid	7,965	24,054
	Differences arising from equity in loss of investment in local partnerships	-419,059	-3,200,843
	Difference in gain on sale of limited partner interests/local partnership properties
		4,501,931	1,895,353
	Other income from local partnerships	-36,506	-38,728
	Other differences	3,156	1,969
	Tax return income (loss) for the years ended December 31, 2013 and 2012	$3,807,052	($1,338,129)
	98,124
	The differences between the investment in local partnerships for financial reporting and tax purposes as of December 31, 2013 and 2012 are as follows:
		2013	2012
	Investment in local partnerships - financial reporting	$                     --	$                     --
	Investment in local partnerships - tax	-17,860,933	-21,907,299
		$      17,860,933	$      21,907,299
	Payable to general partner and affiliates in the accompanying balance sheets represents accrued Management Fees and Administration Fees, which are not deductible for tax purposes until paid pursuant to IRC Section 267.

8_Fair_Value_of_Financial_Inst

8. Fair Value of Financial Instruments	12 Months Ended
	Mar. 30, 2014
Notes	'
8. Fair Value of Financial Instruments	'
	8.     Fair Value of Financial Instruments
	The estimated fair value amounts have been determined using available market information, assumptions, estimates and valuation methodologies.
	Cash and cash equivalents
	The carrying amount approximates fair value.
	Investment in Pemberwick Fund, a short duration bond fund
	The weighted average duration of Pemberwick’s assets is approximately 1.92 years as of March 30, 2014. Redemptions from Pemberwick are immediately liquid and unrestricted. Pemberwick’s net asset value (“NAV”) is $10.07 and $10.12 per share as of March 30, 2014 and 2013, respectively. The Partnership’s investment in Pemberwick as of March 30, 2014 and 2013 is carried at its fair value of $472,181 and $757,246, respectively. The fair value of the Partnership’s investment in Pemberwick is classified within Level 1 of the fair value hierarchy of the guidance on Fair Value Measurements (see Note 1). Pemberwick’s NAV was $10.09 as of May 31, 2014.
	Investment in local partnerships
	The Partnership assessed the carrying value of its investment in local partnerships at least annually in the fourth quarter of its fiscal year or whenever there were indications that a permanent impairment may have occurred. If the carrying value of an investment in a Local Partnership exceeded the estimated value derived by management, the Partnership reduced its investment in any such Local Partnership (unless the impairment was considered to be temporary) and included such reduction in equity in loss of investment in local partnerships. Impairment was measured by comparing the investment carrying amount to the estimated residual value of the investment. The investment in local partnerships, carried at zero as of March 30, 2014 and 2013, approximates fair value.

1_Organization_Purpose_and_Sum1

1. Organization, Purpose and Summary of Significant Accounting Policies: Basis of Accounting and Fiscal Year (Policies)	12 Months Ended
	Mar. 30, 2014
Policies	'
Basis of Accounting and Fiscal Year	'
	Basis of Accounting and Fiscal Year
	The Partnership's records are maintained on the accrual basis of accounting for both financial reporting and tax purposes. For financial reporting purposes, the Partnership's fiscal year ends March 30 and its quarterly periods end June 29, September 29 and December 30. The Local Partnerships have a calendar year for financial reporting purposes. The Partnership and the Local Partnerships each have a calendar year for income tax purposes.

1_Organization_Purpose_and_Sum2

1. Organization, Purpose and Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)	12 Months Ended
	Mar. 30, 2014
Policies	'
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	The Partnership considers all highly liquid investments purchased with an original maturity of three months or less at the date of acquisition to be cash equivalents. Cash and cash equivalents are stated at cost, which approximates market value.

1_Organization_Purpose_and_Sum3

1. Organization, Purpose and Summary of Significant Accounting Policies: Fair Value Measurements (Policies)	12 Months Ended
	Mar. 30, 2014
Policies	'
Fair Value Measurements	'
	Fair Value Measurements
	ASC Topic 820 clarifies the principle that fair value should be based on the assumptions that market participants would use when pricing the asset or liability and establishes the following fair value hierarchy:
	·       Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Partnership has the ability to access;
	·       Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as interest rates and yield curves that are observable at commonly quoted intervals; and
	·       Level 3 inputs are unobservable inputs for the asset or liability that are typically based on an entity’s own assumptions as there is little, if any, related market activity.
	For instances in which the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the fair value measurement will fall within the lowest level input that is significant to the fair value measurement in its entirety.

1_Organization_Purpose_and_Sum4

1. Organization, Purpose and Summary of Significant Accounting Policies: Income Taxes (Policies)	12 Months Ended
	Mar. 30, 2014
Policies	'
Income Taxes	'
	Income Taxes
	The Partnership is a pass-through entity for income tax purposes and, as such, is not subject to income taxes. Rather, all items of taxable income and deductions are passed through to and are reported by its partners on their respective income tax returns. The Partnership’s federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, the Partnership is not required to take any tax positions in order to qualify as a pass-through entity. The Partnership is required to file and does file tax returns with the Internal Revenue Service (“IRS”) and other taxing authorities. Income tax returns filed by the Partnership are subject to examination by the IRS for a period of three years. While no Partnership income tax returns are currently being examined by the IRS, tax years subsequent to 2009 remain subject to examination. These financial statements do not reflect a provision for income taxes and the Partnership has no other tax positions which must be considered for disclosure. In accordance with ASC Topic 740; Subtopic 10, the Partnership has included in Note 7 disclosures related to differences in the financial and tax bases of accounting.

1_Organization_Purpose_and_Sum5

1. Organization, Purpose and Summary of Significant Accounting Policies: Use of Estimates (Policies)	12 Months Ended
	Mar. 30, 2014
Policies	'
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

5_Investment_in_Local_Partners1

5. Investment in Local Partnerships: Local Partnership Interests Owned as of March 30, 2013 (Tables)	12 Months Ended
	Mar. 30, 2014
Tables/Schedules	'
Local Partnership Interests Owned as of March 30, 2013	'
	1	Batesville Family, L.P.;
	2	Chowan Senior Manor Associates Limited Partnership;
	3	Country View Apartments;
	4	Fulton Street Houses Limited Partnership;
	5	Hurlock Meadow Limited Partnership;
	6	Lawrence Road Properties, Ltd.;
	7	Loma Del Norte Limited Partnership;
	8	Long Reach Associates Limited Partnership;
	9	Nash Hill Associates, Limited Partnership;
	10	Purvis Heights Properties, L.P.;
	11	Queen Lane Investors (“Queen Lane”);
	12	Sugar Cane Villas, Ltd. (“Sugar Cane Villas”);
	13	Summerfield Apartments Limited Partnership;
	14	Union Valley Associates Limited Partnership (“Union Valley”); and
	15	Waynesboro Apartments Limited Partnership (“Waynesboro”)

5_Investment_in_Local_Partners2

5. Investment in Local Partnerships: The Partnership and American Tax Credit Properties II L.P. ('ATCP II') together, in the aggregate, own a 99% Local Partnership Interest in the following Local Partnerships (Tables)	12 Months Ended
	Mar. 30, 2014
Tables/Schedules	'
The Partnership and American Tax Credit Properties II L.P. ('ATCP II') together, in the aggregate, own a 99% Local Partnership Interest in the following Local Partnerships	'
			The Partnership	ATCP II
		Batesville Family, L.P.	61.75%	37.25%
		Lawrence Road Properties, Ltd.	61.75	37.25
		Purvis Heights Properties, L.P.	61.75	37.25
		Queen Lane Investors	48.5	50.5

5_Investment_in_Local_Partners3

5. Investment in Local Partnerships: Combined Balance Sheets of the Local Partnerships (Tables)	12 Months Ended
	Mar. 30, 2014
Tables/Schedules	'
Combined Balance Sheets of the Local Partnerships	'
		2013	2012
	ASSETS
	Cash and cash equivalents	$       834,672	$    1,044,375
	Rents receivable	161,197	272,559
	Escrow deposits and reserves	2,516,017	3,621,740
	Land	1,540,423	2,057,621
	Buildings and improvements (net of accumulated depreciation of $31,626,053 and $50,028,530)	16,975,809	28,113,698
	Intangible assets (net of accumulated amortization of $100,693 and $348,743)	13,007	227,848
	Other assets	617,452	1,036,422
	Total assets	$   22,658,577	$   36,374,263
	LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
	Liabilities
	Accounts payable and accrued expenses	$       339,171	$       660,725
	Due to related parties	3,328,459	3,832,960
	Mortgage loans	31,588,586	53,688,628
	Accrued interest	1,088,936	2,281,499
	Other liabilities	370,983	598,027
	Total liabilities	36,716,135	61,061,839
	Partners' equity (deficit)
	American Tax Credit Properties III L.P.
	Capital contributions, net of distributions	9,251,695	11,870,938
	Cumulative loss	-8,585,297	-11,204,540
	Total American Tax Credit Properties III L.P.	666,398	666,398
	General partners and other limited partners
	Capital contributions, net of distributions	-1,534,297	-290,162
	Cumulative loss	-13,189,659	-25,063,812
	Total General partners and other limited partners	-14,723,956	-25,353,974
	Total equity (deficit)	-14,057,558	-24,687,576
	Total liabilities & equity (deficit)	$   22,658,577	$   36,374,263

5_Investment_in_Local_Partners4

5. Investment in Local Partnerships: Combined Statements of Operations of the Local Partnerships (Tables)	12 Months Ended
	Mar. 30, 2014
Tables/Schedules	'
Combined Statements of Operations of the Local Partnerships	'
		2013	2012
	REVENUE
	Rental	$     8,293,056	$   10,039,996
	Interest and other	196,280	189,456
	Total Revenue	8,489,336	10,229,452
	EXPENSES
	Administrative	1,810,878	2,562,054
	Utilities	1,079,522	1,235,631
	Operating and maintenance	2,042,765	2,606,779
	Taxes and insurance	894,982	1,009,534
	Financial	1,273,593	1,550,580
	Depreciation and amortization	2,424,298	2,955,443
	Total Expenses	9,526,038	11,920,021
	LOSS BEFORE GAIN ON SALE OF PROPERTY	-1,036,702	-1,690,569
	GAIN ON SALE OF PROPERTY	2,042,871	--
	NET INCOME (LOSS)	$     1,006,169	$    (1,690,569)
	NET INCOME (LOSS) ATTRIBUTABLE TO
	American Tax Credit Properties III L.P.	$                    --	$                    --
	General partners and other limited partners (includes $1,006,176 and $1,562,247 of Partnership losses in excess of investment and specially allocated income of $1,017,912 and $177,070)	1,006,169	-1,690,569
		$     1,006,169	$    (1,690,569)

7_Taxable_Income_Loss_Reconcil

7. Taxable Income (Loss): Reconciliation of Financial Statement Net Income (Loss) to the Tax Return Income (Loss) (Tables)	12 Months Ended
	Mar. 30, 2014
Tables/Schedules	'
Reconciliation of Financial Statement Net Income (Loss) to the Tax Return Income (Loss)	'
		2014	2013
	Financial statement net loss for the years ended March 30, 2014 and 2013	($36,669)	($18,066)
	Add (less) net transactions occurring between
	January 1, 2012 and March 30, 2012	--	-98,124
	January 1, 2013 and March 30, 2013	-96,256	96,256
	January 1, 2014 and March 30, 2014	-117,510	--
	Adjusted financial statement net loss for the years ended December 31, 2013 and 2012	-250,435	-19,934
	Management Fees and Administration Fees deductible for tax purposes when paid	7,965	24,054
	Differences arising from equity in loss of investment in local partnerships	-419,059	-3,200,843
	Difference in gain on sale of limited partner interests/local partnership properties
		4,501,931	1,895,353
	Other income from local partnerships	-36,506	-38,728
	Other differences	3,156	1,969
	Tax return income (loss) for the years ended December 31, 2013 and 2012	$3,807,052	($1,338,129)
	98,124

7_Taxable_Income_Loss_Differen

7. Taxable Income (Loss): Differences Between Investment in Local Partnerships for Tax and Financial Reporting Purposes (Tables)	12 Months Ended
	Mar. 30, 2014
Tables/Schedules	'
Differences Between Investment in Local Partnerships for Tax and Financial Reporting Purposes	'
		2013	2012
	Investment in local partnerships - financial reporting	$                     --	$                     --
	Investment in local partnerships - tax	-17,860,933	-21,907,299
		$      17,860,933	$      21,907,299

2_Capital_Contributions_Detail

2. Capital Contributions (Details) (USD $)	1 Months Ended
	Apr. 30, 2014	Mar. 30, 2014	Mar. 30, 2013
Details	'	'	'
Units of limited partnership interest outstanding	'	35,883	35,883
Total capital contributions received	'	$35,883,000	$35,883,000
Organization and Offering Costs incurred in connection with the Partnership offering	'	4,418,530	4,418,530
Organization Costs Capitalized in Connection with the Partnership Offering	'	75,000	75,000
Syndication Costs Charged to the Limited Partners' Equity in Connection with the Partnership Offering	'	4,343,530	4,343,530
General Partner Contribution in Connection with the Partnership Offering	'	100	100
Nonresident State Withholding Taxes Paid	$30,994	'	'

3_Cash_and_Cash_Equivalents_De

3. Cash and Cash Equivalents (Details) (USD $)	Mar. 30, 2014	Mar. 30, 2013	Mar. 30, 2012
Details	'	'	'
Cash and cash equivalents	$115,513	$105,179	$72,852
Cash and cash equivalents held at two FDIC insured institutions	100,484	'	'
Maximum insured at each institution	250,000	'	'
Cash and cash equivalents held in portfolio of U.S. Treasury securities	$15,029	'	'

4_Investment_in_Pemberwick_Fun1

4. Investment in Pemberwick Fund (Details) (USD $)	31-May-14	Mar. 30, 2014	Mar. 30, 2013
Details	'	'	'
Weighted Average Duration of Pemberwick's assets in years	'	1.92	'
Pemberwick Net Asset Value	$10.09	$10.07	$10.12
Investment in Pemberwick Fund - a short duration bond fund	'	$472,181	$757,246
Unrealized gain reflected as accumulated other comprehensive income	'	823	'
Aggregate interest revenue from investment in Pemberwick	'	$37,466	'

4_Investment_in_Pemberwick_Fun2

4. Investment in Pemberwick Fund: Advisor's Fee (Details) (USD $)	12 Months Ended
	Mar. 30, 2014	Mar. 30, 2013
Details	'	'
Advisor's Fee	$904	$1,243

5_Investment_in_Local_Partners5

5. Investment in Local Partnerships: Other (Details) (USD $)	Mar. 30, 2014	Dec. 31, 2013
Details	'	'
Capital contributions in the aggregate	$29,384,966	'
Local Partnerships outstanding mortgage loans payable	'	31,589,000
Local Partnerships accrued interest on outstanding mortgage loans payable	'	$1,089,000

5_Investment_in_Local_Partners6

5. Investment in Local Partnerships (Details) (USD $)	12 Months Ended
	Mar. 30, 2014	Mar. 30, 2013	Mar. 30, 2014	Dec. 31, 2013	Mar. 30, 2014	Mar. 30, 2014	Mar. 30, 2014	Mar. 30, 2013	Mar. 30, 2013	Mar. 30, 2013	Mar. 30, 2013
			LaBelle and Moore Haven	Queen Lane	Ellinwood Heights	Auburn Family, Bay Springs Elderly, Bruce Housing, Ivy Family, North Calhoun City, Walnut Grove Family, West Calhoun City	Desarrollos de Belen and Desarrollos de Emaus	April Gardens, Brisas del Mar, Mirador del Toa and Puerta del Mar	Hayes Run	Sallisaw	Somerset Manor
Proceeds in connection with sale of limited partner interests/local partnership properties	$72,013	$320,663	$49,810	'	'	$22,203	'	$207,301	$67,500	$27,272	$18,590
GAIN ON SALE OF LIMITED PARTNER INTERESTS/LOCAL PARTNERSHIP PROPERTIES	72,013	320,663	49,810	'	'	22,203	'	207,301	67,500	27,272	18,590
GAIN ON SALE OF PROPERTY	'	'	'	2,042,871	'	'	'	'	'	'	'
Other income from local partnerships	150,699	21,668	'	'	7,500	55,442	52,000	'	'	'	'
Due from local partnerships	$52,000	'	'	'	'	'	$52,000	'	'	'	'

5_Investment_in_Local_Partners7

5. Investment in Local Partnerships: Partnership losses in excess of investment (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Details	'	'
Excess Losses Applied to Other Partners' Capital	$1,006,176	$1,562,247

5_Investment_in_Local_Partners8

5. Investment in Local Partnerships: Combined Balance Sheets of the Local Partnerships (Details) (Combined Balance Sheets, USD $)	Dec. 31, 2013	Dec. 31, 2012
Combined Balance Sheets	'	'
Cash and cash equivalents	$834,672	$1,044,375
Rents receivable	161,197	272,559
Escrow deposits and reserves	2,516,017	3,621,740
Land	1,540,423	2,057,621
Buildings and improvements, net	16,975,809	28,113,698
Intangible assets, net	13,007	227,848
Other assets	617,452	1,036,422
Total assets	22,658,577	36,374,263
Accounts payable and accrued expenses	339,171	660,725
Due to related parties	3,328,459	3,832,960
Mortgage loans	31,588,586	53,688,628
Accrued interest	1,088,936	2,281,499
Other liabilities	370,983	598,027
Total liabilities	36,716,135	61,061,839
American Tax Credit Properties III L.P. Capital contributions, net of distributions	9,251,695	11,870,938
American Tax Credit Properties III L.P. Cumulative loss	-8,585,297	-11,204,540
Total American Tax Credit Properties III L.P.	666,398	666,398
General Partners and other limited partners Capital contributions, net of distributions	-1,534,297	-290,162
General Partners and other limited partners Cumulative loss	-13,189,659	-25,063,812
Total General partners and other limited partners	-14,723,956	-25,353,974
Total equity (deficit)	-14,057,558	-24,687,576
Total liabilities & equity (deficit)	$22,658,577	$36,374,263

5_Investment_in_Local_Partners9

5. Investment in Local Partnerships: Combined Statements of Operations of the Local Partnerships (Details) (Combined Statements of Operations, USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Combined Statements of Operations	'	'
Rental	$8,293,056	$10,039,996
Interest and other	196,280	189,456
TOTAL REVENUE	8,489,336	10,229,452
Administrative	1,810,878	2,562,054
Utilities	1,079,522	1,235,631
Operating and maintenance	2,042,765	2,606,779
Taxes and insurance	894,982	1,009,534
Financial	1,273,593	1,550,580
Depreciation and amortization	2,424,298	2,955,443
TOTAL EXPENSES	9,526,038	11,920,021
LOSS BEFORE GAIN ON SALE OF PROPERTY	-1,036,702	-1,690,569
GAIN ON SALE OF PROPERTY	2,042,871	'
NET INCOME (LOSS)	1,006,169	-1,690,569
Net Income (Loss) Attributable To General partners and other limited partners (includes $1,006,176 and $1,562,247 of Partnership losses in excess of investment and specially allocated income of $1,017,912 and $177,070)	$1,006,169	($1,690,569)

6_Transactions_With_General_Pa1

6. Transactions With General Partner and Affiliates (Details) (USD $)	12 Months Ended
	Mar. 30, 2014	Mar. 30, 2013
Details	'	'
Maximum Annual Management Fee	'The annual Management Fee is equal to the greater of $100,000 or .14% of Invested Assets (as such term is defined in the Partnership Agreement), while the annual Additional Management Fee is equal to .06% of Invested Assets	'The annual Management Fee is equal to the greater of $100,000 or .14% of Invested Assets (as such term is defined in the Partnership Agreement), while the annual Additional Management Fee is equal to .06% of Invested Assets
Cumulative Total of the Management Fees and Administration Fees	'The cumulative total of the management fees and administration fees (see discussion below herein Note 6) is limited to 0.5% of Invested Assets	'The cumulative total of the management fees and administration fees (see discussion below herein Note 6) is limited to 0.5% of Invested Assets
Incurred Management Fees	$83,064	$100,000
Incurred Additional Management Fees	16,490	40,892
Maximum Annual Administration Fee	'The annual Administration Fee is equal to the greater of $100,000 or .14% of Invested Assets, while the annual Additional Administration Fee is equal to .06% of Invested Assets. The cumulative total of the administration fees and management fees is limited as described above herein Note 6.	'The annual Administration Fee is equal to the greater of $100,000 or .14% of Invested Assets, while the annual Additional Administration Fee is equal to .06% of Invested Assets. The cumulative total of the administration fees and management fees is limited as described above herein Note 6.
Incurred Administration Fees	83,064	100,000
Incurred Additional Administration Fees	$16,490	$40,892

6_Transactions_With_General_Pa2

6. Transactions With General Partner and Affiliates: Unpaid Management and Additional Management Fees (Details) (USD $)	Mar. 30, 2014	Mar. 30, 2013
Details	'	'
Unpaid Management and Additional Management Fees Included in Payable to General Partner and Affiliates	$1,660,010	$1,689,930

6_Transactions_With_General_Pa3

6. Transactions With General Partner and Affiliates: Unpaid Administration and Additional Administration Fees (Details) (USD $)	Mar. 30, 2014	Mar. 30, 2013
Details	'	'
Unpaid Administration Fees Included in Accounts Payable and Accrued Expenses	'	$100,673
Unpaid Administration Fees and Additional Administration Fees Included in Accounts Payable and Accrued Expenses	$1,657,773	$1,687,711

7_Taxable_Income_Loss_Reconcil1

7. Taxable Income (Loss): Reconciliation of Financial Statement Net Income (Loss) to the Tax Return Income (Loss) (Details) (USD $)	3 Months Ended			12 Months Ended
	Mar. 30, 2014	Mar. 30, 2013	Mar. 30, 2012	Mar. 30, 2014	Dec. 31, 2013	Mar. 30, 2013	Dec. 31, 2012
Details	'	'	'	'	'	'	'
NET LOSS	'	'	'	($36,669)	'	($18,066)	'
Add (less) net transactions occurring between Jan 1 and Mar 30	-117,510	96,256	98,124	'	'	'	'
Adjusted financial statement net loss for the years ended December 31, 2013 and 2012	'	'	'	'	-250,435	'	-19,934
Management Fees and Administration Fees deductible for tax purposes when paid	'	'	'	'	7,965	'	24,054
Differences arising from equity in loss of investment in local partnerships	'	'	'	'	-419,059	'	-3,200,843
Difference in gain on sale of limited partner interests / local partnership properties	'	'	'	'	4,501,931	'	1,895,353
Other income from local partnerships	'	'	'	'	-36,506	'	-38,728
Other differences	'	'	'	'	3,156	'	1,969
Tax return income (loss) for the years ended December 31, 2013 and 2012	'	'	'	'	$3,807,052	'	($1,338,129)

7_Taxable_Income_Loss_Differen1

7. Taxable Income (Loss): Differences Between Investment in Local Partnerships for Tax and Financial Reporting Purposes (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Details	'	'
Investment in local partnerships - tax	($17,860,933)	($21,907,299)
Differences between the investment in local partnerships for tax and financial reporting purposes	$17,860,933	$21,907,299

8_Fair_Value_of_Financial_Inst1

8. Fair Value of Financial Instruments (Details) (USD $)	31-May-14	Mar. 30, 2014	Mar. 30, 2013
Details	'	'	'
Weighted Average Duration of Pemberwick's assets in years	'	1.92	'
Pemberwick Net Asset Value	$10.09	$10.07	$10.12
Investment in Pemberwick Fund - a short duration bond fund	'	$472,181	$757,246