Document And Entity Information
Document And Entity Information - Jun. 30, 2015 - shares | Total |
Document Information [Line Items] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2015 |
Document Fiscal Year Focus | 2,016 |
Document Fiscal Period Focus | Q1 |
Entity Registrant Name | BOSTON CAPITAL TAX CREDIT FUND III L P |
Entity Central Index Key | 879,555 |
Current Fiscal Year End Date | --03-31 |
Entity Filer Category | Smaller Reporting Company |
Entity Common Stock, Shares Outstanding | 0 |
CONDENSED BALANCE SHEETS
CONDENSED BALANCE SHEETS - USD ($) | Jun. 30, 2015 | Mar. 31, 2015 |
ASSETS | ||
Cash and cash equivalents | $ 8,738,441 | $ 2,523,234 |
Other assets | 13,456 | 357,489 |
Assets | 8,751,897 | 2,880,723 |
LIABILITIES | ||
Accounts payable & accrued expenses | 46,034 | 28,234 |
Accounts payable affiliates (Note C) | 16,820,047 | 16,781,463 |
Capital contributions payable (Note D) | 76,455 | 76,455 |
Liabilities | 16,942,536 | 16,886,152 |
PARTNERS' CAPITAL (DEFICIT) | ||
Assignees Units of limited partnership interest | (6,298,084) | (12,054,726) |
General Partner | (1,892,555) | (1,950,703) |
Partners' capital (deficit) | (8,190,639) | (14,005,429) |
Liabilities and Stockholders' Equity | 8,751,897 | 2,880,723 |
Series Fifteen [Member] | ||
ASSETS | ||
Cash and cash equivalents | 811,494 | 414,859 |
Other assets | 0 | 0 |
Assets | 811,494 | 414,859 |
LIABILITIES | ||
Accounts payable & accrued expenses | 9,246 | 6,246 |
Accounts payable affiliates (Note C) | 3,714,956 | 3,695,825 |
Capital contributions payable (Note D) | 0 | 0 |
Liabilities | 3,724,202 | 3,702,071 |
PARTNERS' CAPITAL (DEFICIT) | ||
Assignees Units of limited partnership interest | (2,561,392) | (2,932,151) |
General Partner | (351,316) | (355,061) |
Partners' capital (deficit) | (2,912,708) | (3,287,212) |
Liabilities and Stockholders' Equity | 811,494 | 414,859 |
Series Sixteen [Member] | ||
ASSETS | ||
Cash and cash equivalents | 218,382 | 221,108 |
Other assets | 0 | 0 |
Assets | 218,382 | 221,108 |
LIABILITIES | ||
Accounts payable & accrued expenses | 4,488 | 4,488 |
Accounts payable affiliates (Note C) | 8,082,174 | 8,036,400 |
Capital contributions payable (Note D) | 50,008 | 50,008 |
Liabilities | 8,136,670 | 8,090,896 |
PARTNERS' CAPITAL (DEFICIT) | ||
Assignees Units of limited partnership interest | (7,372,497) | (7,324,482) |
General Partner | (545,791) | (545,306) |
Partners' capital (deficit) | (7,918,288) | (7,869,788) |
Liabilities and Stockholders' Equity | 218,382 | 221,108 |
Series Seventeen [Member] | ||
ASSETS | ||
Cash and cash equivalents | 5,698,928 | 197,779 |
Other assets | 0 | 2,200 |
Assets | 5,698,928 | 199,979 |
LIABILITIES | ||
Accounts payable & accrued expenses | 24,800 | 10,000 |
Accounts payable affiliates (Note C) | 635,362 | 685,587 |
Capital contributions payable (Note D) | 7,893 | 7,893 |
Liabilities | 668,055 | 703,480 |
PARTNERS' CAPITAL (DEFICIT) | ||
Assignees Units of limited partnership interest | 5,397,513 | (81,517) |
General Partner | (366,640) | (421,984) |
Partners' capital (deficit) | 5,030,873 | (503,501) |
Liabilities and Stockholders' Equity | 5,698,928 | 199,979 |
Series Eighteen [Member] | ||
ASSETS | ||
Cash and cash equivalents | 640,943 | 306,518 |
Other assets | 13,456 | 355,289 |
Assets | 654,399 | 661,807 |
LIABILITIES | ||
Accounts payable & accrued expenses | 0 | 0 |
Accounts payable affiliates (Note C) | 4,387,555 | 4,363,651 |
Capital contributions payable (Note D) | 18,554 | 18,554 |
Liabilities | 4,406,109 | 4,382,205 |
PARTNERS' CAPITAL (DEFICIT) | ||
Assignees Units of limited partnership interest | (3,403,965) | (3,372,966) |
General Partner | (347,745) | (347,432) |
Partners' capital (deficit) | (3,751,710) | (3,720,398) |
Liabilities and Stockholders' Equity | 654,399 | 661,807 |
Series Nineteen [Member] | ||
ASSETS | ||
Cash and cash equivalents | 1,368,694 | 1,382,970 |
Other assets | 0 | 0 |
Assets | 1,368,694 | 1,382,970 |
LIABILITIES | ||
Accounts payable & accrued expenses | 7,500 | 7,500 |
Accounts payable affiliates (Note C) | 0 | 0 |
Capital contributions payable (Note D) | 0 | 0 |
Liabilities | 7,500 | 7,500 |
PARTNERS' CAPITAL (DEFICIT) | ||
Assignees Units of limited partnership interest | 1,642,257 | 1,656,390 |
General Partner | (281,063) | (280,920) |
Partners' capital (deficit) | 1,361,194 | 1,375,470 |
Liabilities and Stockholders' Equity | $ 1,368,694 | $ 1,382,970 |
CONDENSED BALANCE SHEETS _Paren
CONDENSED BALANCE SHEETS [Parenthetical] - $ / shares | Jun. 30, 2015 | Mar. 31, 2015 | Sep. 04, 1993 |
Beneficial assignee certificate, par value (in dollars per share) | $ 10 | $ 10 | $ 10 |
Limited Partners Capital Account, Units Authorized | 22,000,000 | 22,000,000 | |
Limited Partners' Capital Account, Units Issued | 21,996,102 | 21,996,102 | |
Limited Partners Capital Account, Units Outstanding | 21,936,787 | 21,936,787 | |
Series Fifteen [Member] | |||
Beneficial assignee certificate, par value (in dollars per share) | $ 10 | $ 10 | |
Limited Partners Capital Account, Units Authorized | 22,000,000 | 22,000,000 | |
Limited Partners' Capital Account, Units Issued | 3,870,500 | 3,870,500 | |
Limited Partners Capital Account, Units Outstanding | 3,858,400 | 3,858,400 | |
Series Sixteen [Member] | |||
Beneficial assignee certificate, par value (in dollars per share) | $ 10 | $ 10 | |
Limited Partners Capital Account, Units Authorized | 22,000,000 | 22,000,000 | |
Limited Partners' Capital Account, Units Issued | 5,429,402 | 5,429,402 | |
Limited Partners Capital Account, Units Outstanding | 5,411,800 | 5,411,800 | |
Series Seventeen [Member] | |||
Beneficial assignee certificate, par value (in dollars per share) | $ 10 | $ 10 | |
Limited Partners Capital Account, Units Authorized | 22,000,000 | 22,000,000 | |
Limited Partners' Capital Account, Units Issued | 5,000,000 | 5,000,000 | |
Limited Partners Capital Account, Units Outstanding | 4,980,687 | 4,980,687 | |
Series Eighteen [Member] | |||
Beneficial assignee certificate, par value (in dollars per share) | $ 10 | $ 10 | |
Limited Partners Capital Account, Units Authorized | 22,000,000 | 22,000,000 | |
Limited Partners' Capital Account, Units Issued | 3,616,200 | 3,616,200 | |
Limited Partners Capital Account, Units Outstanding | 3,612,200 | 3,612,200 | |
Series Nineteen [Member] | |||
Beneficial assignee certificate, par value (in dollars per share) | $ 10 | $ 10 | |
Limited Partners Capital Account, Units Authorized | 22,000,000 | 22,000,000 | |
Limited Partners' Capital Account, Units Issued | 4,080,000 | 4,080,000 | |
Limited Partners Capital Account, Units Outstanding | 4,073,700 | 4,073,700 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Income | ||
Interest income | $ 1,280 | $ 972 |
Other income | 16,622 | 2,094 |
Total income | 17,902 | 3,066 |
Share of Income from Operating Partnerships(Note D) | 5,850,728 | 382,700 |
Expenses | ||
Professional fees | 26,640 | 27,900 |
Fund management fee, net (Note C) | 9,812 | 144,997 |
General and administrative expenses | 17,388 | 18,976 |
Operating expenses | 53,840 | 191,873 |
NET INCOME (LOSS) | 5,814,790 | 193,893 |
Net income (loss) allocated to limited assignees | 5,756,642 | 191,953 |
Net income (loss) allocated to general partner | $ 58,148 | $ 1,940 |
Net income (loss) per BAC (in dollars per share) | $ 0.26 | $ 0.01 |
Series Fifteen [Member] | ||
Income | ||
Interest income | $ 185 | $ 130 |
Other income | 0 | 0 |
Total income | 185 | 130 |
Share of Income from Operating Partnerships(Note D) | 325,769 | 382,700 |
Expenses | ||
Professional fees | 6,120 | 6,020 |
Fund management fee, net (Note C) | (58,036) | (2,304) |
General and administrative expenses | 3,366 | 3,513 |
Operating expenses | (48,550) | 7,229 |
NET INCOME (LOSS) | 374,504 | 375,601 |
Net income (loss) allocated to limited assignees | 370,759 | 371,845 |
Net income (loss) allocated to general partner | $ 3,745 | $ 3,756 |
Net income (loss) per BAC (in dollars per share) | $ 0.1 | $ 0.1 |
Series Sixteen [Member] | ||
Income | ||
Interest income | $ 122 | $ 110 |
Other income | 401 | 661 |
Total income | 523 | 771 |
Share of Income from Operating Partnerships(Note D) | 0 | 0 |
Expenses | ||
Professional fees | 6,780 | 6,970 |
Fund management fee, net (Note C) | 38,290 | 47,680 |
General and administrative expenses | 3,953 | 4,264 |
Operating expenses | 49,023 | 58,914 |
NET INCOME (LOSS) | (48,500) | (58,143) |
Net income (loss) allocated to limited assignees | (48,015) | (57,562) |
Net income (loss) allocated to general partner | $ (485) | $ (581) |
Net income (loss) per BAC (in dollars per share) | $ (0.01) | $ (0.01) |
Series Seventeen [Member] | ||
Income | ||
Interest income | $ 314 | $ 266 |
Other income | 16,138 | 1,350 |
Total income | 16,452 | 1,616 |
Share of Income from Operating Partnerships(Note D) | 5,524,959 | 0 |
Expenses | ||
Professional fees | 5,130 | 6,020 |
Fund management fee, net (Note C) | (1,689) | 43,639 |
General and administrative expenses | 3,596 | 3,875 |
Operating expenses | 7,037 | 53,534 |
NET INCOME (LOSS) | 5,534,374 | (51,918) |
Net income (loss) allocated to limited assignees | 5,479,030 | (51,399) |
Net income (loss) allocated to general partner | $ 55,344 | $ (519) |
Net income (loss) per BAC (in dollars per share) | $ 1.1 | $ (0.01) |
Series Eighteen [Member] | ||
Income | ||
Interest income | $ 158 | $ 95 |
Other income | 0 | 0 |
Total income | 158 | 95 |
Share of Income from Operating Partnerships(Note D) | 0 | 0 |
Expenses | ||
Professional fees | 5,130 | 5,390 |
Fund management fee, net (Note C) | 23,204 | 41,114 |
General and administrative expenses | 3,136 | 3,218 |
Operating expenses | 31,470 | 49,722 |
NET INCOME (LOSS) | (31,312) | (49,627) |
Net income (loss) allocated to limited assignees | (30,999) | (49,131) |
Net income (loss) allocated to general partner | $ (313) | $ (496) |
Net income (loss) per BAC (in dollars per share) | $ (0.01) | $ (0.01) |
Series Nineteen [Member] | ||
Income | ||
Interest income | $ 501 | $ 371 |
Other income | 83 | 83 |
Total income | 584 | 454 |
Share of Income from Operating Partnerships(Note D) | 0 | 0 |
Expenses | ||
Professional fees | 3,480 | 3,500 |
Fund management fee, net (Note C) | 8,043 | 14,868 |
General and administrative expenses | 3,337 | 4,106 |
Operating expenses | 14,860 | 22,474 |
NET INCOME (LOSS) | (14,276) | (22,020) |
Net income (loss) allocated to limited assignees | (14,133) | (21,800) |
Net income (loss) allocated to general partner | $ (143) | $ (220) |
Net income (loss) per BAC (in dollars per share) | $ 0 | $ (0.01) |
CONDENSED STATEMENTS OF CHANGES
CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT) - 3 months ended Jun. 30, 2015 - USD ($) | Total | Assignees [Member] | General Partner [Member] | Series Fifteen [Member] | Series Fifteen [Member]Assignees [Member] | Series Fifteen [Member]General Partner [Member] | Series Sixteen [Member] | Series Sixteen [Member]Assignees [Member] | Series Sixteen [Member]General Partner [Member] | Series Seventeen [Member] | Series Seventeen [Member]Assignees [Member] | Series Seventeen [Member]General Partner [Member] | Series Eighteen [Member] | Series Eighteen [Member]Assignees [Member] | Series Eighteen [Member]General Partner [Member] | Series Nineteen [Member] | Series Nineteen [Member]Assignees [Member] | Series Nineteen [Member]General Partner [Member] |
Partners' capital (deficit) at Mar. 31, 2015 | $ (14,005,429) | $ (12,054,726) | $ (1,950,703) | $ (3,287,212) | $ (2,932,151) | $ (355,061) | $ (7,869,788) | $ (7,324,482) | $ (545,306) | $ (503,501) | $ (81,517) | $ (421,984) | $ (3,720,398) | $ (3,372,966) | $ (347,432) | $ 1,375,470 | $ 1,656,390 | $ (280,920) |
Net income (loss) | 5,814,790 | 5,756,642 | 58,148 | 374,504 | 370,759 | 3,745 | (48,500) | (48,015) | (485) | 5,534,374 | 5,479,030 | 55,344 | (31,312) | (30,999) | (313) | (14,276) | (14,133) | (143) |
Partners' capital (deficit) at Jun. 30, 2015 | $ (8,190,639) | $ (6,298,084) | $ (1,892,555) | $ (2,912,708) | $ (2,561,392) | $ (351,316) | $ (7,918,288) | $ (7,372,497) | $ (545,791) | $ 5,030,873 | $ 5,397,513 | $ (366,640) | $ (3,751,710) | $ (3,403,965) | $ (347,745) | $ 1,361,194 | $ 1,642,257 | $ (281,063) |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | ||
Cash flows from operating activities | |||
Net income (loss) | $ 5,814,790 | $ 193,893 | |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities | |||
Share of income from operating partnerships | (5,850,728) | (382,700) | |
Changes in assets and liabilities | |||
Increase in accounts payable and accrued expenses | 17,800 | 11,000 | |
Decrease in other assets | 2,200 | 0 | |
(Decrease) Increase in accounts payable affiliates | 38,584 | 180,539 | |
Net cash (used in) provided by operating activities | 22,646 | 2,732 | |
Cash flows from investing activities | |||
Proceeds from the disposition of Operating Partnerships | 6,192,561 | [1] | 382,700 |
Net cash provided by investing activities | 6,192,561 | 382,700 | |
Net cash used in financing activities | |||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 6,215,207 | 385,432 | |
Cash and cash equivalents, beginning | 2,523,234 | 2,294,311 | |
Cash and cash equivalents, ending | 8,738,441 | 2,679,743 | |
Series Fifteen [Member] | |||
Cash flows from operating activities | |||
Net income (loss) | 374,504 | 375,601 | |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities | |||
Share of income from operating partnerships | (325,769) | (382,700) | |
Changes in assets and liabilities | |||
Increase in accounts payable and accrued expenses | 3,000 | 11,000 | |
Decrease in other assets | 0 | 0 | |
(Decrease) Increase in accounts payable affiliates | 19,131 | 30,864 | |
Net cash (used in) provided by operating activities | 70,866 | 34,765 | |
Cash flows from investing activities | |||
Proceeds from the disposition of Operating Partnerships | 325,769 | [1] | 382,700 |
Net cash provided by investing activities | 325,769 | 382,700 | |
Net cash used in financing activities | |||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 396,635 | 417,465 | |
Cash and cash equivalents, beginning | 414,859 | 161,422 | |
Cash and cash equivalents, ending | 811,494 | 578,887 | |
Series Sixteen [Member] | |||
Cash flows from operating activities | |||
Net income (loss) | (48,500) | (58,143) | |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities | |||
Share of income from operating partnerships | 0 | 0 | |
Changes in assets and liabilities | |||
Increase in accounts payable and accrued expenses | 0 | 0 | |
Decrease in other assets | 0 | 0 | |
(Decrease) Increase in accounts payable affiliates | 45,774 | 56,813 | |
Net cash (used in) provided by operating activities | (2,726) | (1,330) | |
Cash flows from investing activities | |||
Proceeds from the disposition of Operating Partnerships | 0 | [1] | 0 |
Net cash provided by investing activities | 0 | 0 | |
Net cash used in financing activities | |||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (2,726) | (1,330) | |
Cash and cash equivalents, beginning | 221,108 | 176,922 | |
Cash and cash equivalents, ending | 218,382 | 175,592 | |
Series Seventeen [Member] | |||
Cash flows from operating activities | |||
Net income (loss) | 5,534,374 | (51,918) | |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities | |||
Share of income from operating partnerships | (5,524,959) | 0 | |
Changes in assets and liabilities | |||
Increase in accounts payable and accrued expenses | 14,800 | 0 | |
Decrease in other assets | 2,200 | 0 | |
(Decrease) Increase in accounts payable affiliates | (50,225) | 46,986 | |
Net cash (used in) provided by operating activities | (23,810) | (4,932) | |
Cash flows from investing activities | |||
Proceeds from the disposition of Operating Partnerships | 5,524,959 | [1] | 0 |
Net cash provided by investing activities | 5,524,959 | 0 | |
Net cash used in financing activities | |||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 5,501,149 | (4,932) | |
Cash and cash equivalents, beginning | 197,779 | 799,176 | |
Cash and cash equivalents, ending | 5,698,928 | 794,244 | |
Series Eighteen [Member] | |||
Cash flows from operating activities | |||
Net income (loss) | (31,312) | (49,627) | |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities | |||
Share of income from operating partnerships | 0 | 0 | |
Changes in assets and liabilities | |||
Increase in accounts payable and accrued expenses | 0 | 0 | |
Decrease in other assets | 0 | 0 | |
(Decrease) Increase in accounts payable affiliates | 23,904 | 45,876 | |
Net cash (used in) provided by operating activities | (7,408) | (3,751) | |
Cash flows from investing activities | |||
Proceeds from the disposition of Operating Partnerships | 341,833 | [1] | 0 |
Net cash provided by investing activities | 341,833 | 0 | |
Net cash used in financing activities | |||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 334,425 | (3,751) | |
Cash and cash equivalents, beginning | 306,518 | 355,319 | |
Cash and cash equivalents, ending | 640,943 | 351,568 | |
Series Nineteen [Member] | |||
Cash flows from operating activities | |||
Net income (loss) | (14,276) | (22,020) | |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities | |||
Share of income from operating partnerships | 0 | 0 | |
Changes in assets and liabilities | |||
Increase in accounts payable and accrued expenses | 0 | 0 | |
Decrease in other assets | 0 | 0 | |
(Decrease) Increase in accounts payable affiliates | 0 | 0 | |
Net cash (used in) provided by operating activities | (14,276) | (22,020) | |
Cash flows from investing activities | |||
Proceeds from the disposition of Operating Partnerships | 0 | [1] | 0 |
Net cash provided by investing activities | 0 | 0 | |
Net cash used in financing activities | |||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (14,276) | (22,020) | |
Cash and cash equivalents, beginning | 1,382,970 | 801,472 | |
Cash and cash equivalents, ending | $ 1,368,694 | $ 779,452 | |
[1] | Fund proceeds from disposition include $341,833 which was receivable as of March 31, 2015 for Series 18. |
ORGANIZATION
ORGANIZATION | 3 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation Of Financial Statements [Abstract] | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | NOTE A - ORGANIZATION Boston Capital Tax Credit Fund III L.P. (the "Fund") was formed under the laws of the State of Delaware as of September 19, 1991 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 June 1, 2001 there was a restructuring, and as a result, the Fund's general partner was reorganized as follows. The general partner of the Fund continues to be Boston Capital Associates III L.P., a Delaware limited partnership. The general partner of the general partner of the Fund is now BCA Associates Limited Partnership, a Massachusetts limited partnership, whose sole general partner is C&M Management, Inc., a Massachusetts corporation whose limited partners are Herbert F. Collins and John P. Manning. Mr. Manning is the principal of Boston Capital Partners, Inc. The limited partner of the general partner is Capital Investment Holdings, a general partnership whose partners are various officers and employees of Boston Capital Partners, Inc. and its affiliates. The assignor limited partner is BCTC III Assignor Corp., a Delaware corporation which is wholly-owned by Herbert F. Collins and John P. Manning. 20,000,000 10 2,000,000 10 3,870,500 38,705,000 5,429,402 54,293,000 5,000,000 50,000,000 3,616,200 36,162,000 4,080,000 40,800,000 3,858,400 5,411,800 4,980,687 3,612,200 4,073,700 |
ACCOUNTING AND FINANCIAL REPORT
ACCOUNTING AND FINANCIAL REPORTING POLICIES | 3 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES The condensed financial statements included herein as of June 30, 2015 and for the three months then ended have been prepared by the Fund, without audit. 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 such 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, 2015. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Jun. 30, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | NOTE C - RELATED PARTY TRANSACTIONS The Fund has entered into several transactions with various affiliates of its general partner, including Boston Capital Holdings LP, Boston Capital Partners, Inc., and Boston Capital Asset Management Limited Partnership, as follows: An annual fund management fee, based on .5 percent of the aggregate cost of all apartment complexes owned by the Operating Partnerships, has been accrued to Boston Capital Asset Management Limited Partnership. Since reporting fees collected by the series were added to reserves and not paid to Boston Capital Asset Management Limited Partnership, the amounts accrued are not net of reporting fees received. The fund management fees accrued for the three months ended June 30, 2015 and 2014 are as follows: 2015 2014 Series 15 $ 19,131 $ 30,864 Series 16 45,774 56,813 Series 17 37,158 46,986 Series 18 23,904 45,876 Series 19 8,793 15,618 $ 134,760 $ 196,157 The fund management fees paid for the three months ended June 30, 2015 and 2014 are as follows: 2015 2014 Series 15 $ - $ - Series 16 - - Series 17 87,383 - Series 18 - - Series 19 8,793 15,618 $ 96,176 $ 15,618 |
INVESTMENTS IN OPERATING PARTNE
INVESTMENTS IN OPERATING PARTNERSHIPS | 3 Months Ended |
Jun. 30, 2015 | |
Investments In and Advance To Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract] | |
Equity Method Investments Disclosure [Text Block] | NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS At June 30, 2015 and 2014, the Fund had limited partnership interests in 68 and 92 Operating Partnerships, respectively, which own or are constructing apartment complexes. The breakdown of Operating Partnerships within the Fund at June 30, 2015 and 2014 is as follows: 2015 2014 Series 15 17 21 Series 16 21 28 Series 17 12 17 Series 18 12 18 Series 19 6 8 68 92 Under the terms of the Fund's investment in each Operating Partnership, the Fund is required to make capital contributions to the Operating Partnerships. These contributions are payable in installments over several years upon each Operating Partnership achieving specified levels of construction and/or operations. The contributions payable at June 30, 2015 and 2014 are as follows: 2015 2014 Series 15 $ - $ - Series 16 50,008 50,008 Series 17 7,893 16,712 Series 18 18,554 18,554 Series 19 - - $ 76,455 $ 85,274 During the three months ended June 30, 2015 the Fund disposed of two Operating Partnerships. A summary of the dispositions by Series for June 30, 2015 is as follows: Operating Sale of Fund Proceeds Gain on Series 15 - 1 $ 325,769 $ 325,769 Series 16 - - - - Series 17 - 1 5,524,959 5,524,959 Series 18 - - 341,833 - Series 19 - - - - Total - 2 $ 6,192,561 $ 5,850,728 * Fund proceeds from disposition include $341,833 which was receivable as of March 31, 2015 for Series 18. During the three months ended June 30, 2014 the Fund disposed of three Operating Partnerships. A summary of the dispositions by Series for June 30, 2014 is as follows: Operating Sale of Fund Proceeds Gain on Series 15 2 1 $ 382,700 $ 382,700 Series 16 - - - - Series 17 - - - - Series 18 - - - - Series 19 - - - - Total 2 1 $ 382,700 $ 382,700 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 condensed financial statements. The Fund's fiscal year ends March 31st of each year, while all the Operating Partnerships' fiscal years are the calendar year. Pursuant to the provisions of each Operating Partnership Agreement, financial results for each of the Operating Partnerships are provided to the Fund within 45 days after the close of each Operating Partnerships quarterly period. Accordingly, the current financial results available for the Operating Partnerships are for the three months ended March 31, 2015. COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS 2015 2014 Revenues Rental $ 3,263,242 $ 5,018,236 Interest and other 62,042 122,887 3,325,284 5,141,123 Expenses Interest 408,660 695,315 Depreciation and amortization 845,960 1,285,448 Operating expenses 2,514,133 3,835,600 NET LOSS $ (443,469) $ (675,240) Net loss allocation to Boston (439,032) (668,486) Net loss allocated to other (4,437) (6,754) * Amounts include $439,032 and $668,486 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. The Fund accounts for its investments using the equity method of Series 15 2015 2014 Revenues Rental $ 725,157 $ 935,673 Interest and other 12,202 17,653 737,359 953,326 Expenses Interest 98,002 128,421 Depreciation and amortization 187,833 231,481 Operating expenses 560,078 692,690 NET LOSS $ (108,554) $ (99,266) Net loss allocation to Boston (107,468) (98,273) Net loss allocated to other (1,086) (993) * Amounts include $107,468 and $98,273 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. The Fund accounts for its investments using the equity method of Series 16 2015 2014 Revenues Rental $ 1,126,696 $ 1,377,097 Interest and other 16,743 19,129 1,143,439 1,396,226 Expenses Interest 144,524 197,712 Depreciation and amortization 290,726 349,083 Operating expenses 814,159 1,096,998 NET LOSS $ (105,970) $ (247,567) Net loss allocation to Boston (104,910) (245,091) Net loss allocated to other (1,060) (2,476) * Amounts include $104,910 and $245,091 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. The Fund accounts for its investments using the equity method of Series 17 2015 2014 Revenues Rental $ 700,583 $ 1,437,760 Interest and other 12,712 28,887 713,295 1,466,647 Expenses Interest 88,135 181,486 Depreciation and amortization 195,800 338,004 Operating expenses 533,854 1,057,152 NET LOSS $ (104,494) $ (109,995) Net loss allocation to Boston (103,448) (108,894) Net loss allocated to other (1,046) (1,101) * Amounts include $103,448 and $108,894 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. The Fund accounts for its investments using the equity method of Series 18 2015 2014 Revenues Rental $ 523,605 $ 933,455 Interest and other 16,560 34,624 540,165 968,079 Expenses Interest 54,430 118,785 Depreciation and amortization 131,150 286,504 Operating expenses 442,777 710,705 NET LOSS $ (88,192) $ (147,915) Net loss allocation to Boston (87,310) (146,436) Net loss allocated to other (882) (1,479) * Amounts include $87,310 and $146,436 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. The Fund accounts for its investments using the equity method of Series 19 2015 2014 Revenues Rental $ 187,201 $ 334,251 Interest and other 3,825 22,594 191,026 356,845 Expenses Interest 23,569 68,911 Depreciation and amortization 40,451 80,376 Operating expenses 163,265 278,055 NET LOSS $ (36,259) $ (70,497) Net loss allocation to Boston (35,896) (69,792) Net loss allocated to other (363) (705) * Amounts include $35,896 and $69,792 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. The Fund accounts for its investments using the equity method of |
TAXABLE LOSS
TAXABLE LOSS | 3 Months Ended |
Jun. 30, 2015 | |
Taxable Loss [Abstract] | |
Taxable Loss [Text Block] | NOTE E - TAXABLE LOSS The Fund's taxable loss for the calendar year ended December 31, 2015 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. |
INCOME TAXES
INCOME TAXES | 3 Months Ended |
Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Relating To Partnership Disclosure [Text Block] | 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 2011 remain open. |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Related Party Transactions [Abstract] | |
Schedule Of Gross Management Fee [Table Text Block] | The fund management fees accrued for the three months ended June 30, 2015 and 2014 are as follows: 2015 2014 Series 15 $ 19,131 $ 30,864 Series 16 45,774 56,813 Series 17 37,158 46,986 Series 18 23,904 45,876 Series 19 8,793 15,618 $ 134,760 $ 196,157 |
Schedule Of Management Fees Paid [Table Text Block] | The fund management fees paid for the three months ended June 30, 2015 and 2014 are as follows: 2015 2014 Series 15 $ - $ - Series 16 - - Series 17 87,383 - Series 18 - - Series 19 8,793 15,618 $ 96,176 $ 15,618 |
INVESTMENTS IN OPERATING PART14
INVESTMENTS IN OPERATING PARTNERSHIPS (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Investments In and Advance To Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract] | |
Schedule Of Number Of Operating Partnerships [Table Text Block] | The breakdown of Operating Partnerships within the Fund at June 30, 2015 and 2014 is as follows: 2015 2014 Series 15 17 21 Series 16 21 28 Series 17 12 17 Series 18 12 18 Series 19 6 8 68 92 |
Schedule Of Contributions Payable [Table Text Block] | The contributions payable at June 30, 2015 and 2014 are as follows: 2015 2014 Series 15 $ - $ - Series 16 50,008 50,008 Series 17 7,893 16,712 Series 18 18,554 18,554 Series 19 - - $ 76,455 $ 85,274 |
Schedule Of Dispositions By Series [Table Text Block] | During the three months ended June 30, 2015 the Fund disposed of two Operating Partnerships. A summary of the dispositions by Series for June 30, 2015 is as follows: Operating Sale of Fund Proceeds Gain on Series 15 - 1 $ 325,769 $ 325,769 Series 16 - - - - Series 17 - 1 5,524,959 5,524,959 Series 18 - - 341,833 - Series 19 - - - - Total - 2 $ 6,192,561 $ 5,850,728 * Fund proceeds from disposition include $341,833 which was receivable as of March 31, 2015 for Series 18. During the three months ended June 30, 2014 the Fund disposed of three Operating Partnerships. A summary of the dispositions by Series for June 30, 2014 is as follows: Operating Sale of Fund Proceeds Gain on Series 15 2 1 $ 382,700 $ 382,700 Series 16 - - - - Series 17 - - - - Series 18 - - - - Series 19 - - - - Total 2 1 $ 382,700 $ 382,700 |
Schedule Of Summarized Statement Of Operations In Operating Partnerships [Table Text Block] | Accordingly, the current financial results available for the Operating Partnerships are for the three months ended March 31, 2015. COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS 2015 2014 Revenues Rental $ 3,263,242 $ 5,018,236 Interest and other 62,042 122,887 3,325,284 5,141,123 Expenses Interest 408,660 695,315 Depreciation and amortization 845,960 1,285,448 Operating expenses 2,514,133 3,835,600 NET LOSS $ (443,469) $ (675,240) Net loss allocation to Boston (439,032) (668,486) Net loss allocated to other (4,437) (6,754) * Amounts include $439,032 and $668,486 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. Series 15 2015 2014 Revenues Rental $ 725,157 $ 935,673 Interest and other 12,202 17,653 737,359 953,326 Expenses Interest 98,002 128,421 Depreciation and amortization 187,833 231,481 Operating expenses 560,078 692,690 NET LOSS $ (108,554) $ (99,266) Net loss allocation to Boston (107,468) (98,273) Net loss allocated to other (1,086) (993) * Amounts include $107,468 and $98,273 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. Series 16 2015 2014 Revenues Rental $ 1,126,696 $ 1,377,097 Interest and other 16,743 19,129 1,143,439 1,396,226 Expenses Interest 144,524 197,712 Depreciation and amortization 290,726 349,083 Operating expenses 814,159 1,096,998 NET LOSS $ (105,970) $ (247,567) Net loss allocation to Boston (104,910) (245,091) Net loss allocated to other (1,060) (2,476) * Amounts include $104,910 and $245,091 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. Series 17 2015 2014 Revenues Rental $ 700,583 $ 1,437,760 Interest and other 12,712 28,887 713,295 1,466,647 Expenses Interest 88,135 181,486 Depreciation and amortization 195,800 338,004 Operating expenses 533,854 1,057,152 NET LOSS $ (104,494) $ (109,995) Net loss allocation to Boston (103,448) (108,894) Net loss allocated to other (1,046) (1,101) * Amounts include $103,448 and $108,894 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. Series 18 2015 2014 Revenues Rental $ 523,605 $ 933,455 Interest and other 16,560 34,624 540,165 968,079 Expenses Interest 54,430 118,785 Depreciation and amortization 131,150 286,504 Operating expenses 442,777 710,705 NET LOSS $ (88,192) $ (147,915) Net loss allocation to Boston (87,310) (146,436) Net loss allocated to other (882) (1,479) * Amounts include $87,310 and $146,436 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. Series 19 2015 2014 Revenues Rental $ 187,201 $ 334,251 Interest and other 3,825 22,594 191,026 356,845 Expenses Interest 23,569 68,911 Depreciation and amortization 40,451 80,376 Operating expenses 163,265 278,055 NET LOSS $ (36,259) $ (70,497) Net loss allocation to Boston (35,896) (69,792) Net loss allocated to other (363) (705) * Amounts include $35,896 and $69,792 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. |
ORGANIZATION (Details Textual)
ORGANIZATION (Details Textual) - USD ($) | Sep. 04, 1993 | Jun. 30, 2015 | Mar. 31, 2015 |
Organization And Summary Of Significant Accounting Policies [Line Items] | |||
Units of limited partnership interest, authorized | 22,000,000 | 22,000,000 | |
Beneficial assignee certificate, par value (in dollars per share) | $ 10 | $ 10 | $ 10 |
Limited Partners' Capital Account, Units Issued | 21,996,102 | 21,996,102 | |
Limited Partners Capital Account, Units Outstanding | 21,936,787 | 21,936,787 | |
Limited Partners Capital Account Additional Units Registered For Sale | 2,000,000 | ||
Series Fifteen [Member] | |||
Organization And Summary Of Significant Accounting Policies [Line Items] | |||
Units of limited partnership interest, authorized | 22,000,000 | 22,000,000 | |
Beneficial assignee certificate, par value (in dollars per share) | $ 10 | $ 10 | |
Limited Partners' Capital Account, Units Issued | 3,870,500 | 3,870,500 | |
Limited Partners Capital Accounts Units Issued Value | $ 38,705,000 | ||
Limited Partners Capital Account, Units Outstanding | 3,858,400 | 3,858,400 | |
Series Sixteen [Member] | |||
Organization And Summary Of Significant Accounting Policies [Line Items] | |||
Units of limited partnership interest, authorized | 22,000,000 | 22,000,000 | |
Beneficial assignee certificate, par value (in dollars per share) | $ 10 | $ 10 | |
Limited Partners' Capital Account, Units Issued | 5,429,402 | 5,429,402 | |
Limited Partners Capital Accounts Units Issued Value | $ 54,293,000 | ||
Limited Partners Capital Account, Units Outstanding | 5,411,800 | 5,411,800 | |
Series Seventeen [Member] | |||
Organization And Summary Of Significant Accounting Policies [Line Items] | |||
Units of limited partnership interest, authorized | 22,000,000 | 22,000,000 | |
Beneficial assignee certificate, par value (in dollars per share) | $ 10 | $ 10 | |
Limited Partners' Capital Account, Units Issued | 5,000,000 | 5,000,000 | |
Limited Partners Capital Accounts Units Issued Value | $ 50,000,000 | ||
Limited Partners Capital Account, Units Outstanding | 4,980,687 | 4,980,687 | |
Series Eighteen [Member] | |||
Organization And Summary Of Significant Accounting Policies [Line Items] | |||
Units of limited partnership interest, authorized | 22,000,000 | 22,000,000 | |
Beneficial assignee certificate, par value (in dollars per share) | $ 10 | $ 10 | |
Limited Partners' Capital Account, Units Issued | 3,616,200 | 3,616,200 | |
Limited Partners Capital Accounts Units Issued Value | $ 36,162,000 | ||
Limited Partners Capital Account, Units Outstanding | 3,612,200 | 3,612,200 | |
Series Nineteen [Member] | |||
Organization And Summary Of Significant Accounting Policies [Line Items] | |||
Units of limited partnership interest, authorized | 22,000,000 | 22,000,000 | |
Beneficial assignee certificate, par value (in dollars per share) | $ 10 | $ 10 | |
Limited Partners' Capital Account, Units Issued | 4,080,000 | 4,080,000 | |
Limited Partners Capital Accounts Units Issued Value | $ 40,800,000 | ||
Limited Partners Capital Account, Units Outstanding | 4,073,700 | 4,073,700 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details) - USD ($) | 3 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Related Party Transaction [Line Items] | ||
Accrued management fees | $ 134,760 | $ 196,157 |
Series Fifteen [Member] | ||
Related Party Transaction [Line Items] | ||
Accrued management fees | 19,131 | 30,864 |
Series Sixteen [Member] | ||
Related Party Transaction [Line Items] | ||
Accrued management fees | 45,774 | 56,813 |
Series Seventeen [Member] | ||
Related Party Transaction [Line Items] | ||
Accrued management fees | 37,158 | 46,986 |
Series Eighteen [Member] | ||
Related Party Transaction [Line Items] | ||
Accrued management fees | 23,904 | 45,876 |
Series Nineteen [Member] | ||
Related Party Transaction [Line Items] | ||
Accrued management fees | $ 8,793 | $ 15,618 |
RELATED PARTY TRANSACTIONS (D17
RELATED PARTY TRANSACTIONS (Details 1) - USD ($) | 3 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Related Party Transaction [Line Items] | ||
Management fees paid | $ 96,176 | $ 15,618 |
Series Fifteen [Member] | ||
Related Party Transaction [Line Items] | ||
Management fees paid | 0 | 0 |
Series Sixteen [Member] | ||
Related Party Transaction [Line Items] | ||
Management fees paid | 0 | 0 |
Series Seventeen [Member] | ||
Related Party Transaction [Line Items] | ||
Management fees paid | 87,383 | 0 |
Series Eighteen [Member] | ||
Related Party Transaction [Line Items] | ||
Management fees paid | 0 | 0 |
Series Nineteen [Member] | ||
Related Party Transaction [Line Items] | ||
Management fees paid | $ 8,793 | $ 15,618 |
RELATED PARTY TRANSACTIONS (D18
RELATED PARTY TRANSACTIONS (Details Textual) | 3 Months Ended |
Jun. 30, 2015 | |
Related Party Transaction [Line Items] | |
Percentage Of Annual Management Fee | 0.50% |
INVESTMENTS IN OPERATING PART19
INVESTMENTS IN OPERATING PARTNERSHIPS (Details) - Number | Jun. 30, 2015 | Jun. 30, 2014 |
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 68 | 92 |
Series Fifteen [Member] | ||
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 17 | 21 |
Series Sixteen [Member] | ||
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 21 | 28 |
Series Seventeen [Member] | ||
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 12 | 17 |
Series Eighteen [Member] | ||
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 12 | 18 |
Series Nineteen [Member] | ||
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 6 | 8 |
INVESTMENTS IN OPERATING PART20
INVESTMENTS IN OPERATING PARTNERSHIPS (Details 1) - USD ($) | Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2014 |
Contributions Payable [Line Items] | |||
Capital contributions payable | $ 76,455 | $ 76,455 | $ 85,274 |
Series Fifteen [Member] | |||
Contributions Payable [Line Items] | |||
Capital contributions payable | 0 | 0 | 0 |
Series Sixteen [Member] | |||
Contributions Payable [Line Items] | |||
Capital contributions payable | 50,008 | 50,008 | 50,008 |
Series Seventeen [Member] | |||
Contributions Payable [Line Items] | |||
Capital contributions payable | 7,893 | 7,893 | 16,712 |
Series Eighteen [Member] | |||
Contributions Payable [Line Items] | |||
Capital contributions payable | 18,554 | 18,554 | 18,554 |
Series Nineteen [Member] | |||
Contributions Payable [Line Items] | |||
Capital contributions payable | $ 0 | $ 0 | $ 0 |
INVESTMENTS IN OPERATING PART21
INVESTMENTS IN OPERATING PARTNERSHIPS (Details 2) | 3 Months Ended | ||
Jun. 30, 2015USD ($)Number | Jun. 30, 2014USD ($)Number | ||
Dispositions By Series Disclosure [Line Items] | |||
Operating Partnership Interest Transferred | Number | 0 | 2 | |
Sale of Underlying Operating Partnership | Number | 2 | 1 | |
Partnership Proceeds from Disposition | $ 6,192,561 | [1] | $ 382,700 |
Gain on Disposition | $ 5,850,728 | $ 382,700 | |
Series Fifteen [Member] | |||
Dispositions By Series Disclosure [Line Items] | |||
Operating Partnership Interest Transferred | Number | 0 | 2 | |
Sale of Underlying Operating Partnership | Number | 1 | 1 | |
Partnership Proceeds from Disposition | $ 325,769 | [1] | $ 382,700 |
Gain on Disposition | $ 325,769 | $ 382,700 | |
Series Sixteen [Member] | |||
Dispositions By Series Disclosure [Line Items] | |||
Operating Partnership Interest Transferred | Number | 0 | 0 | |
Sale of Underlying Operating Partnership | Number | 0 | 0 | |
Partnership Proceeds from Disposition | $ 0 | [1] | $ 0 |
Gain on Disposition | $ 0 | $ 0 | |
Series Seventeen [Member] | |||
Dispositions By Series Disclosure [Line Items] | |||
Operating Partnership Interest Transferred | Number | 0 | 0 | |
Sale of Underlying Operating Partnership | Number | 1 | 0 | |
Partnership Proceeds from Disposition | $ 5,524,959 | [1] | $ 0 |
Gain on Disposition | $ 5,524,959 | $ 0 | |
Series Eighteen [Member] | |||
Dispositions By Series Disclosure [Line Items] | |||
Operating Partnership Interest Transferred | Number | 0 | 0 | |
Sale of Underlying Operating Partnership | Number | 0 | 0 | |
Partnership Proceeds from Disposition | $ 341,833 | [1] | $ 0 |
Gain on Disposition | $ 0 | $ 0 | |
Series Nineteen [Member] | |||
Dispositions By Series Disclosure [Line Items] | |||
Operating Partnership Interest Transferred | Number | 0 | 0 | |
Sale of Underlying Operating Partnership | Number | 0 | 0 | |
Partnership Proceeds from Disposition | $ 0 | [1] | $ 0 |
Gain on Disposition | $ 0 | $ 0 | |
[1] | Fund proceeds from disposition include $341,833 which was receivable as of March 31, 2015 for Series 18. |
INVESTMENTS IN OPERATING PART22
INVESTMENTS IN OPERATING PARTNERSHIPS (Details 3) - USD ($) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | ||
Revenues | |||
Rental | $ 3,263,242 | $ 5,018,236 | |
Interest and other | 62,042 | 122,887 | |
Operating Partnerships Revenues | 3,325,284 | 5,141,123 | |
Expenses | |||
Interest | 408,660 | 695,315 | |
Depreciation and amortization | 845,960 | 1,285,448 | |
Operating expenses | 2,514,133 | 3,835,600 | |
Operating Partnerships Total Expenses | 3,768,753 | 5,816,363 | |
NET LOSS | (443,469) | (675,240) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | [1] | (439,032) | (668,486) |
Net Income (Loss) allocated to other partners | (4,437) | (6,754) | |
Series Fifteen [Member] | |||
Revenues | |||
Rental | 725,157 | 935,673 | |
Interest and other | 12,202 | 17,653 | |
Operating Partnerships Revenues | 737,359 | 953,326 | |
Expenses | |||
Interest | 98,002 | 128,421 | |
Depreciation and amortization | 187,833 | 231,481 | |
Operating expenses | 560,078 | 692,690 | |
Operating Partnerships Total Expenses | 845,913 | 1,052,592 | |
NET LOSS | (108,554) | (99,266) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | [2] | (107,468) | (98,273) |
Net Income (Loss) allocated to other partners | (1,086) | (993) | |
Series Sixteen [Member] | |||
Revenues | |||
Rental | 1,126,696 | 1,377,097 | |
Interest and other | 16,743 | 19,129 | |
Operating Partnerships Revenues | 1,143,439 | 1,396,226 | |
Expenses | |||
Interest | 144,524 | 197,712 | |
Depreciation and amortization | 290,726 | 349,083 | |
Operating expenses | 814,159 | 1,096,998 | |
Operating Partnerships Total Expenses | 1,249,409 | 1,643,793 | |
NET LOSS | (105,970) | (247,567) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | [3] | (104,910) | (245,091) |
Net Income (Loss) allocated to other partners | (1,060) | (2,476) | |
Series Seventeen [Member] | |||
Revenues | |||
Rental | 700,583 | 1,437,760 | |
Interest and other | 12,712 | 28,887 | |
Operating Partnerships Revenues | 713,295 | 1,466,647 | |
Expenses | |||
Interest | 88,135 | 181,486 | |
Depreciation and amortization | 195,800 | 338,004 | |
Operating expenses | 533,854 | 1,057,152 | |
Operating Partnerships Total Expenses | 817,789 | 1,576,642 | |
NET LOSS | (104,494) | (109,995) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | [4] | (103,448) | (108,894) |
Net Income (Loss) allocated to other partners | (1,046) | (1,101) | |
Series Eighteen [Member] | |||
Revenues | |||
Rental | 523,605 | 933,455 | |
Interest and other | 16,560 | 34,624 | |
Operating Partnerships Revenues | 540,165 | 968,079 | |
Expenses | |||
Interest | 54,430 | 118,785 | |
Depreciation and amortization | 131,150 | 286,504 | |
Operating expenses | 442,777 | 710,705 | |
Operating Partnerships Total Expenses | 628,357 | 1,115,994 | |
NET LOSS | (88,192) | (147,915) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | [5] | (87,310) | (146,436) |
Net Income (Loss) allocated to other partners | (882) | (1,479) | |
Series Nineteen [Member] | |||
Revenues | |||
Rental | 187,201 | 334,251 | |
Interest and other | 3,825 | 22,594 | |
Operating Partnerships Revenues | 191,026 | 356,845 | |
Expenses | |||
Interest | 23,569 | 68,911 | |
Depreciation and amortization | 40,451 | 80,376 | |
Operating expenses | 163,265 | 278,055 | |
Operating Partnerships Total Expenses | 227,285 | 427,342 | |
NET LOSS | (36,259) | (70,497) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | [6] | (35,896) | (69,792) |
Net Income (Loss) allocated to other partners | $ (363) | $ (705) | |
[1] | Amounts include $439,032 and $668,486 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. | ||
[2] | Amounts include $107,468 and $98,273 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. | ||
[3] | Amounts include $104,910 and $245,091 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. | ||
[4] | Amounts include $103,448 and $108,894 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. | ||
[5] | Amounts include $87,310 and $146,436 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. | ||
[6] | Amounts include $35,896 and $69,792 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. |
INVESTMENTS IN OPERATING PART23
INVESTMENTS IN OPERATING PARTNERSHIPS (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Investments In Operating Limited Partnerships [Line Items] | ||
Income Loss Not Recognized Under Equity Method Accounting | $ 668,486 | $ 439,032 |
Series Fifteen [Member] | ||
Investments In Operating Limited Partnerships [Line Items] | ||
Income Loss Not Recognized Under Equity Method Accounting | 107,468 | 98,273 |
Series Sixteen [Member] | ||
Investments In Operating Limited Partnerships [Line Items] | ||
Income Loss Not Recognized Under Equity Method Accounting | 104,910 | 245,091 |
Series Seventeen [Member] | ||
Investments In Operating Limited Partnerships [Line Items] | ||
Income Loss Not Recognized Under Equity Method Accounting | 103,448 | 108,894 |
Series Eighteen [Member] | ||
Investments In Operating Limited Partnerships [Line Items] | ||
Income Loss Not Recognized Under Equity Method Accounting | 87,310 | 146,436 |
Fund Receivable | 341,833 | |
Series Nineteen [Member] | ||
Investments In Operating Limited Partnerships [Line Items] | ||
Income Loss Not Recognized Under Equity Method Accounting | $ 35,896 | $ 69,792 |