Document And Entity Information
Document And Entity Information | 9 Months Ended |
Dec. 31, 2015shares | |
Document Information [Line Items] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2015 |
Document Fiscal Year Focus | 2,016 |
Document Fiscal Period Focus | Q3 |
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 ($) | Dec. 31, 2015 | Mar. 31, 2015 |
ASSETS | ||
Cash and cash equivalents | $ 7,834,512 | $ 2,523,234 |
Other assets | 0 | 357,489 |
Assets | 7,834,512 | 2,880,723 |
LIABILITIES | ||
Accounts payable & accrued expenses | 31,234 | 28,234 |
Accounts payable affiliates (Note C) | 15,678,600 | 16,781,463 |
Capital contributions payable (Note D) | 76,455 | 76,455 |
Liabilities | 15,786,289 | 16,886,152 |
PARTNERS' CAPITAL (DEFICIT) | ||
Assignees Units of limited partnership interest | (6,061,611) | (12,054,726) |
General Partner | (1,890,166) | (1,950,703) |
Partners' capital (deficit) | (7,951,777) | (14,005,429) |
Liabilities and Stockholders' Equity | 7,834,512 | 2,880,723 |
Series Fifteen [Member] | ||
ASSETS | ||
Cash and cash equivalents | 630,738 | 414,859 |
Other assets | 0 | 0 |
Assets | 630,738 | 414,859 |
LIABILITIES | ||
Accounts payable & accrued expenses | 9,246 | 6,246 |
Accounts payable affiliates (Note C) | 3,461,065 | 3,695,825 |
Capital contributions payable (Note D) | 0 | 0 |
Liabilities | 3,470,311 | 3,702,071 |
PARTNERS' CAPITAL (DEFICIT) | ||
Assignees Units of limited partnership interest | (2,488,988) | (2,932,151) |
General Partner | (350,585) | (355,061) |
Partners' capital (deficit) | (2,839,573) | (3,287,212) |
Liabilities and Stockholders' Equity | 630,738 | 414,859 |
Series Sixteen [Member] | ||
ASSETS | ||
Cash and cash equivalents | 392,228 | 221,108 |
Other assets | 0 | 0 |
Assets | 392,228 | 221,108 |
LIABILITIES | ||
Accounts payable & accrued expenses | 4,488 | 4,488 |
Accounts payable affiliates (Note C) | 8,087,461 | 8,036,400 |
Capital contributions payable (Note D) | 50,008 | 50,008 |
Liabilities | 8,141,957 | 8,090,896 |
PARTNERS' CAPITAL (DEFICIT) | ||
Assignees Units of limited partnership interest | (7,205,624) | (7,324,482) |
General Partner | (544,105) | (545,306) |
Partners' capital (deficit) | (7,749,729) | (7,869,788) |
Liabilities and Stockholders' Equity | 392,228 | 221,108 |
Series Seventeen [Member] | ||
ASSETS | ||
Cash and cash equivalents | 5,145,366 | 197,779 |
Other assets | 0 | 2,200 |
Assets | 5,145,366 | 199,979 |
LIABILITIES | ||
Accounts payable & accrued expenses | 10,000 | 10,000 |
Accounts payable affiliates (Note C) | 0 | 685,587 |
Capital contributions payable (Note D) | 7,893 | 7,893 |
Liabilities | 17,893 | 703,480 |
PARTNERS' CAPITAL (DEFICIT) | ||
Assignees Units of limited partnership interest | 5,493,147 | (81,517) |
General Partner | (365,674) | (421,984) |
Partners' capital (deficit) | 5,127,473 | (503,501) |
Liabilities and Stockholders' Equity | 5,145,366 | 199,979 |
Series Eighteen [Member] | ||
ASSETS | ||
Cash and cash equivalents | 340,037 | 306,518 |
Other assets | 0 | 355,289 |
Assets | 340,037 | 661,807 |
LIABILITIES | ||
Accounts payable & accrued expenses | 0 | 0 |
Accounts payable affiliates (Note C) | 4,130,074 | 4,363,651 |
Capital contributions payable (Note D) | 18,554 | 18,554 |
Liabilities | 4,148,628 | 4,382,205 |
PARTNERS' CAPITAL (DEFICIT) | ||
Assignees Units of limited partnership interest | (3,460,277) | (3,372,966) |
General Partner | (348,314) | (347,432) |
Partners' capital (deficit) | (3,808,591) | (3,720,398) |
Liabilities and Stockholders' Equity | 340,037 | 661,807 |
Series Nineteen [Member] | ||
ASSETS | ||
Cash and cash equivalents | 1,326,143 | 1,382,970 |
Other assets | 0 | 0 |
Assets | 1,326,143 | 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 | 1,600,131 | 1,656,390 |
General Partner | (281,488) | (280,920) |
Partners' capital (deficit) | 1,318,643 | 1,375,470 |
Liabilities and Stockholders' Equity | $ 1,326,143 | $ 1,382,970 |
CONDENSED BALANCE SHEETS _Paren
CONDENSED BALANCE SHEETS [Parenthetical] - $ / shares | Dec. 31, 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 | 20,000,000 |
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 | 9 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income | ||||
Interest income | $ 2,367 | $ 997 | $ 6,208 | $ 2,961 |
Other income | 12,123 | 10,380 | 33,248 | 15,525 |
Total income | 14,490 | 11,377 | 39,456 | 18,486 |
Share of Income from Operating Partnerships(Note D) | 130,600 | 2,475,964 | 6,416,089 | 2,865,664 |
Expenses | ||||
Professional fees | 27,024 | 9,416 | 155,910 | 142,094 |
Fund management fee, net (Note C) | 44,758 | (41,310) | 154,446 | 279,895 |
General and administrative expenses | 44,574 | 32,504 | 91,537 | 74,565 |
Operating expenses | 116,356 | 610 | 401,893 | 496,554 |
NET INCOME (LOSS) | 28,734 | 2,486,731 | 6,053,652 | 2,387,596 |
Net income (loss) allocated to limited assignees | 28,446 | 2,461,863 | 5,993,115 | 2,363,719 |
Net income (loss) allocated to general partner | $ 288 | $ 24,868 | $ 60,537 | $ 23,877 |
Net income (loss) per BAC (in dollars per share) | $ 0 | $ 0.11 | $ 0.27 | $ 0.11 |
Series Fifteen [Member] | ||||
Income | ||||
Interest income | $ 209 | $ 117 | $ 646 | $ 437 |
Other income | 0 | 0 | 321 | 321 |
Total income | 209 | 117 | 967 | 758 |
Share of Income from Operating Partnerships(Note D) | 130,600 | 317,642 | 465,691 | 700,342 |
Expenses | ||||
Professional fees | 14,049 | 1,841 | 43,336 | 28,538 |
Fund management fee, net (Note C) | 9,573 | 24,047 | (41,936) | 42,290 |
General and administrative expenses | 8,692 | 6,456 | 17,619 | 14,345 |
Operating expenses | 32,314 | 32,344 | 19,019 | 85,173 |
NET INCOME (LOSS) | 98,495 | 285,415 | 447,639 | 615,927 |
Net income (loss) allocated to limited assignees | 97,510 | 282,561 | 443,163 | 609,768 |
Net income (loss) allocated to general partner | $ 985 | $ 2,854 | $ 4,476 | $ 6,159 |
Net income (loss) per BAC (in dollars per share) | $ 0.03 | $ 0.07 | $ 0.11 | $ 0.16 |
Series Sixteen [Member] | ||||
Income | ||||
Interest income | $ 183 | $ 121 | $ 440 | $ 339 |
Other income | 0 | 200 | 401 | 861 |
Total income | 183 | 321 | 841 | 1,200 |
Share of Income from Operating Partnerships(Note D) | 0 | 247,999 | 243,000 | 254,999 |
Expenses | ||||
Professional fees | 1,751 | 1,841 | 34,692 | 33,945 |
Fund management fee, net (Note C) | (8,942) | 51,382 | 67,068 | 149,126 |
General and administrative expenses | 11,293 | 7,998 | 22,022 | 17,735 |
Operating expenses | 4,102 | 61,221 | 123,782 | 200,806 |
NET INCOME (LOSS) | (3,919) | 187,099 | 120,059 | 55,393 |
Net income (loss) allocated to limited assignees | (3,880) | 185,228 | 118,858 | 54,839 |
Net income (loss) allocated to general partner | $ (39) | $ 1,871 | $ 1,201 | $ 554 |
Net income (loss) per BAC (in dollars per share) | $ 0 | $ 0.03 | $ 0.02 | $ 0.01 |
Series Seventeen [Member] | ||||
Income | ||||
Interest income | $ 1,430 | $ 152 | $ 3,261 | $ 660 |
Other income | 0 | 0 | 20,320 | 4,080 |
Total income | 1,430 | 152 | 23,581 | 4,740 |
Share of Income from Operating Partnerships(Note D) | 0 | 1,138,960 | 5,692,104 | 1,138,960 |
Expenses | ||||
Professional fees | 1,751 | 1,841 | 26,054 | 33,635 |
Fund management fee, net (Note C) | 17,428 | 30,692 | 39,371 | 119,417 |
General and administrative expenses | 9,284 | 6,701 | 19,286 | 15,287 |
Operating expenses | 28,463 | 39,234 | 84,711 | 168,339 |
NET INCOME (LOSS) | (27,033) | 1,099,878 | 5,630,974 | 975,361 |
Net income (loss) allocated to limited assignees | (26,763) | 1,088,879 | 5,574,664 | 965,607 |
Net income (loss) allocated to general partner | $ (270) | $ 10,999 | $ 56,310 | $ 9,754 |
Net income (loss) per BAC (in dollars per share) | $ (0.01) | $ 0.22 | $ 1.12 | $ 0.19 |
Series Eighteen [Member] | ||||
Income | ||||
Interest income | $ 89 | $ 87 | $ 398 | $ 271 |
Other income | 12,058 | 10,180 | 12,058 | 10,180 |
Total income | 12,147 | 10,267 | 12,456 | 10,451 |
Share of Income from Operating Partnerships(Note D) | 0 | 266,641 | 15,294 | 266,641 |
Expenses | ||||
Professional fees | 7,722 | 1,841 | 33,080 | 26,040 |
Fund management fee, net (Note C) | 20,504 | 8,475 | 66,912 | 94,482 |
General and administrative expenses | 7,706 | 5,709 | 15,951 | 12,906 |
Operating expenses | 35,932 | 16,025 | 115,943 | 133,428 |
NET INCOME (LOSS) | (23,785) | 260,883 | (88,193) | 143,664 |
Net income (loss) allocated to limited assignees | (23,547) | 258,274 | (87,311) | 142,227 |
Net income (loss) allocated to general partner | $ (238) | $ 2,609 | $ (882) | $ 1,437 |
Net income (loss) per BAC (in dollars per share) | $ (0.01) | $ 0.07 | $ (0.02) | $ 0.04 |
Series Nineteen [Member] | ||||
Income | ||||
Interest income | $ 456 | $ 520 | $ 1,463 | $ 1,254 |
Other income | 65 | 0 | 148 | 83 |
Total income | 521 | 520 | 1,611 | 1,337 |
Share of Income from Operating Partnerships(Note D) | 0 | 504,722 | 0 | 504,722 |
Expenses | ||||
Professional fees | 1,751 | 2,052 | 18,748 | 19,936 |
Fund management fee, net (Note C) | 6,195 | (155,906) | 23,031 | (125,420) |
General and administrative expenses | 7,599 | 5,640 | 16,659 | 14,292 |
Operating expenses | 15,545 | (148,214) | 58,438 | (91,192) |
NET INCOME (LOSS) | (15,024) | 653,456 | (56,827) | 597,251 |
Net income (loss) allocated to limited assignees | (14,874) | 646,921 | (56,259) | 591,278 |
Net income (loss) allocated to general partner | $ (150) | $ 6,535 | $ (568) | $ 5,973 |
Net income (loss) per BAC (in dollars per share) | $ 0 | $ 0.16 | $ (0.01) | $ 0.15 |
CONDENSED STATEMENTS OF CHANGES
CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT) - 9 months ended Dec. 31, 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) | 6,053,652 | 5,993,115 | 60,537 | 447,639 | 443,163 | 4,476 | 120,059 | 118,858 | 1,201 | 5,630,974 | 5,574,664 | 56,310 | (88,193) | (87,311) | (882) | (56,827) | (56,259) | (568) |
Partners' capital (deficit) at Dec. 31, 2015 | $ (7,951,777) | $ (6,061,611) | $ (1,890,166) | $ (2,839,573) | $ (2,488,988) | $ (350,585) | $ (7,749,729) | $ (7,205,624) | $ (544,105) | $ 5,127,473 | $ 5,493,147 | $ (365,674) | $ (3,808,591) | $ (3,460,277) | $ (348,314) | $ 1,318,643 | $ 1,600,131 | $ (281,488) |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) | 9 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | |||
Cash flows from operating activities: | ||||
Net Income (loss) | $ 6,053,652 | $ 2,387,596 | ||
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | ||||
Share of Income from Operating Partnerships | (6,416,089) | (2,865,664) | ||
Changes in assets and liabilities | ||||
Increase in accounts payable and accrued expenses | 3,000 | 43,000 | ||
Decrease in other assets | 2,200 | 0 | ||
(Decrease) Increase in accounts payable affiliates | (1,102,863) | (1,661,969) | ||
Net cash (used in) provided by operating activities | (1,460,100) | (2,097,037) | ||
Cash flows from investing activities: | ||||
Proceeds from the disposition of Operating Partnerships | 6,771,378 | [1] | 2,856,845 | [2] |
Net cash provided by investing activities | 6,771,378 | 2,856,845 | ||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 5,311,278 | 759,808 | ||
Cash and cash equivalents, beginning | 2,523,234 | 2,294,311 | ||
Cash and cash equivalents, ending | 7,834,512 | 3,054,119 | ||
Series Fifteen [Member] | ||||
Cash flows from operating activities: | ||||
Net Income (loss) | 447,639 | 615,927 | ||
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | ||||
Share of Income from Operating Partnerships | (465,691) | (700,342) | ||
Changes in assets and liabilities | ||||
Increase in accounts payable and accrued expenses | 3,000 | 8,000 | ||
Decrease in other assets | 0 | 0 | ||
(Decrease) Increase in accounts payable affiliates | (234,760) | (361,655) | ||
Net cash (used in) provided by operating activities | (249,812) | (438,070) | ||
Cash flows from investing activities: | ||||
Proceeds from the disposition of Operating Partnerships | 465,691 | [1] | 700,342 | [2] |
Net cash provided by investing activities | 465,691 | 700,342 | ||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 215,879 | 262,272 | ||
Cash and cash equivalents, beginning | 414,859 | 161,422 | ||
Cash and cash equivalents, ending | 630,738 | 423,694 | ||
Series Sixteen [Member] | ||||
Cash flows from operating activities: | ||||
Net Income (loss) | 120,059 | 55,393 | ||
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | ||||
Share of Income from Operating Partnerships | (243,000) | (254,999) | ||
Changes in assets and liabilities | ||||
Increase in accounts payable and accrued expenses | 0 | 14,000 | ||
Decrease in other assets | 0 | 0 | ||
(Decrease) Increase in accounts payable affiliates | 51,061 | 161,125 | ||
Net cash (used in) provided by operating activities | (71,880) | (24,481) | ||
Cash flows from investing activities: | ||||
Proceeds from the disposition of Operating Partnerships | 243,000 | [1] | 254,999 | [2] |
Net cash provided by investing activities | 243,000 | 254,999 | ||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 171,120 | 230,518 | ||
Cash and cash equivalents, beginning | 221,108 | 176,922 | ||
Cash and cash equivalents, ending | 392,228 | 407,440 | ||
Series Seventeen [Member] | ||||
Cash flows from operating activities: | ||||
Net Income (loss) | 5,630,974 | 975,361 | ||
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | ||||
Share of Income from Operating Partnerships | (5,692,104) | (1,138,960) | ||
Changes in assets and liabilities | ||||
Increase in accounts payable and accrued expenses | 0 | 7,500 | ||
Decrease in other assets | 2,200 | 0 | ||
(Decrease) Increase in accounts payable affiliates | (685,587) | (1,517,431) | ||
Net cash (used in) provided by operating activities | (744,517) | (1,673,530) | ||
Cash flows from investing activities: | ||||
Proceeds from the disposition of Operating Partnerships | 5,692,104 | [1] | 1,130,141 | [2] |
Net cash provided by investing activities | 5,692,104 | 1,130,141 | ||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 4,947,587 | (543,389) | ||
Cash and cash equivalents, beginning | 197,779 | 799,176 | ||
Cash and cash equivalents, ending | 5,145,366 | 255,787 | ||
Series Eighteen [Member] | ||||
Cash flows from operating activities: | ||||
Net Income (loss) | (88,193) | 143,664 | ||
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | ||||
Share of Income from Operating Partnerships | (15,294) | (266,641) | ||
Changes in assets and liabilities | ||||
Increase in accounts payable and accrued expenses | 0 | 11,000 | ||
Decrease in other assets | 0 | 0 | ||
(Decrease) Increase in accounts payable affiliates | (233,577) | 55,992 | ||
Net cash (used in) provided by operating activities | (337,064) | (55,985) | ||
Cash flows from investing activities: | ||||
Proceeds from the disposition of Operating Partnerships | 370,583 | [1] | 266,641 | [2] |
Net cash provided by investing activities | 370,583 | 266,641 | ||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 33,519 | 210,656 | ||
Cash and cash equivalents, beginning | 306,518 | 355,319 | ||
Cash and cash equivalents, ending | 340,037 | 565,975 | ||
Series Nineteen [Member] | ||||
Cash flows from operating activities: | ||||
Net Income (loss) | (56,827) | 597,251 | ||
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | ||||
Share of Income from Operating Partnerships | 0 | (504,722) | ||
Changes in assets and liabilities | ||||
Increase in accounts payable and accrued expenses | 0 | 2,500 | ||
Decrease in other assets | 0 | 0 | ||
(Decrease) Increase in accounts payable affiliates | 0 | 0 | ||
Net cash (used in) provided by operating activities | (56,827) | 95,029 | ||
Cash flows from investing activities: | ||||
Proceeds from the disposition of Operating Partnerships | 0 | [1] | 504,722 | [2] |
Net cash provided by investing activities | 0 | 504,722 | ||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (56,827) | 599,751 | ||
Cash and cash equivalents, beginning | 1,382,970 | 801,472 | ||
Cash and cash equivalents, ending | $ 1,326,143 | $ 1,401,223 | ||
[1] | Fund proceeds from disposition include $355,289 which was receivable as of March 31, 2015 for Series 18. | |||
[2] | Fund proceeds from disposition does not include the following amount which was due to a writeoff of capital contribution payable of $8,819 for Series 17. |
ORGANIZATION
ORGANIZATION | 9 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation Of Financial Statements [Abstract] | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | NOTE A - ORGANIZATION |
ACCOUNTING AND FINANCIAL REPORT
ACCOUNTING AND FINANCIAL REPORTING POLICIES | 9 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES The condensed financial statements included herein as of December 31, 2015 and for the three and nine 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 | 9 Months Ended |
Dec. 31, 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 December 31, 2015 and 2014 are as follows: 2015 2014 Series 15 $ 11,073 $ 25,047 Series 16 43,218 54,498 Series 17 20,528 45,952 Series 18 23,904 39,240 Series 19 8,793 12,094 $ 107,516 $ 176,831 The fund management fees paid for the three months ended December 31, 2015 and 2014 are as follows: 2015 2014 Series 15 $ - $ 39,167 Series 16 - - Series 17 20,528 1,050,675 Series 18 - - Series 19 8,793 12,094 $ 29,321 $ 1,101,936 The fund management fees paid for the nine months ended December 31, 2015 and 2014 are as follows: 2015 2014 Series 15 $ 278,475 $ 442,613 Series 16 82,001 7,000 Series 17 134,443 1,657,355 Series 18 305,289 75,000 Series 19 26,379 43,330 $ 826,587 $ 2,225,298 |
INVESTMENTS IN OPERATING PARTNE
INVESTMENTS IN OPERATING PARTNERSHIPS | 9 Months Ended |
Dec. 31, 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 December 31, 2015 and 2014, the Fund had limited partnership interests in 61 and 71 Operating Partnerships, respectively, which own or are constructing apartment complexes. The breakdown of Operating Partnerships within the Fund at December 31, 2015 and 2014 is as follows: 2015 2014 Series 15 14 18 Series 16 20 21 Series 17 9 13 Series 18 12 13 Series 19 6 6 61 71 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 December 31, 2015 and 2014 are as follows: 2015 2014 Series 15 $ - $ - Series 16 50,008 50,008 Series 17 7,893 7,893 Series 18 18,554 18,554 Series 19 - - $ 76,455 $ 76,455 During the nine months ended December 31, 2015 the Fund disposed of nine Operating Partnerships and the Fund received additional proceeds from one operating limited partnership disposed of in the prior year. A summary of the dispositions by Series for December 31, 2015 is as follows: Operating Sale of Fund Proceeds Gain on Series 15 3 1 $ 465,691 $ 465,691 Series 16 1 - 243,000 243,000 Series 17 3 1 5,692,104 5,692,104 Series 18 - - 370,583 15,294 Series 19 - - - - Total 7 2 $ 6,771,378 $ 6,416,089 * Fund proceeds from disposition include $355,289 which was receivable as of March 31, 2015 for Series 18. During the nine months ended December 31, 2014 the Fund disposed of twenty-four Operating Partnerships. A summary of the dispositions by Series for December 31, 2014 is as follows: Operating Sale of Fund Proceeds Gain on Series 15 3 3 $ 700,342 $ 700,342 Series 16 6 1 254,999 254,999 Series 17 3 1 1,130,141 1,138,960 Series 18 4 1 266,641 266,641 Series 19 1 1 504,722 504,722 Total 17 7 $ 2,856,845 $ 2,865,664 * Fund proceeds from disposition does not include the following amount which was due to a writeoff of capital contribution payable of $8,819 for Series 17. 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 nine months ended September 30, 2015. COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS 2015 2014 Revenues Rental $ 9,263,250 $ 13,517,497 Interest and other 203,300 364,282 9,466,550 13,881,779 Expenses Interest 1,168,758 1,923,690 Depreciation and amortization 2,434,100 3,419,555 Operating expenses 7,024,286 10,128,033 NET LOSS $ (1,160,594) $ (1,589,499) Net loss allocation to Boston (1,148,987) (1,573,604) Net loss allocated to other (11,607) (15,895) * Amounts include $1,148,987 and $1,573,604 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 COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS Series 15 2015 2014 Revenues Rental $ 1,920,483 $ 2,670,211 Interest and other 53,372 66,915 1,973,855 2,737,126 Expenses Interest 265,459 364,843 Depreciation and amortization 470,927 639,706 Operating expenses 1,558,108 1,995,685 NET LOSS $ (320,639) $ (263,108) Net loss allocation to Boston (317,433) (260,477) Net loss allocated to other (3,206) (2,631) * Amounts include $317,433 and $260,477 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 COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS Series 16 2015 2014 Revenues Rental $ 3,488,086 $ 3,804,610 Interest and other 58,156 57,426 3,546,242 3,862,036 Expenses Interest 447,960 547,459 Depreciation and amortization 906,232 992,326 Operating expenses 2,458,162 2,873,155 NET LOSS $ (266,112) $ (550,904) Net loss allocation to Boston (263,451) (545,395) Net loss allocated to other (2,661) (5,509) * Amounts include $263,451 and $545,395 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 COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS Series 17 2015 2014 Revenues Rental $ 1,743,912 $ 3,778,762 Interest and other 31,147 99,978 1,775,059 3,878,740 Expenses Interest 202,066 532,663 Depreciation and amortization 529,955 891,821 Operating expenses 1,288,090 2,714,897 NET LOSS $ (245,052) $ (260,641) Net loss allocation to Boston (242,600) (258,034) Net loss allocated to other (2,452) (2,607) * Amounts include $242,600 and $258,034 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 COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS Series 18 2015 2014 Revenues Rental $ 1,562,143 $ 2,410,791 Interest and other 41,943 86,733 1,604,086 2,497,524 Expenses Interest 176,644 317,214 Depreciation and amortization 414,098 679,907 Operating expenses 1,237,380 1,838,418 NET LOSS $ (224,036) $ (338,015) Net loss allocation to Boston (221,796) (334,635) Net loss allocated to other (2,240) (3,380) * Amounts include $221,796 and $334,635 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 COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS Series 19 2015 2014 Revenues Rental $ 548,626 $ 853,123 Interest and other 18,682 53,230 567,308 906,353 Expenses Interest 76,629 161,511 Depreciation and amortization 112,888 215,795 Operating expenses 482,546 705,878 NET LOSS $ (104,755) $ (176,831) Net loss allocation to Boston (103,707) (175,063) Net loss allocated to other (1,048) (1,768) * Amounts include $103,707 and $175,063 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 | 9 Months Ended |
Dec. 31, 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 | 9 Months Ended |
Dec. 31, 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. |
OTHER EVENTS
OTHER EVENTS | 9 Months Ended |
Dec. 31, 2015 | |
Other Events [Abstract] | |
Other Events [Text Block] | NOTE G - OTHER EVENTS On December 2, 2015, Boston Capital Tax Credit Fund III Limited Partnership, a Delaware limited partnership (the "Partnership"), mailed a postcard to all of its unit holders which alerts the unit holders that a consent solicitation statement for the liquidation of the Partnership, together with a related proxy ballot, will be forthcoming. |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 9 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Schedule Of Gross Management Fee [Table Text Block] | The fund management fees accrued for the three months ended December 31, 2015 and 2014 are as follows: 2015 2014 Series 15 $ 11,073 $ 25,047 Series 16 43,218 54,498 Series 17 20,528 45,952 Series 18 23,904 39,240 Series 19 8,793 12,094 $ 107,516 $ 176,831 |
Schedule Of Management Fees Paid [Table Text Block] | The fund management fees paid for the three months ended December 31, 2015 and 2014 are as follows: 2015 2014 Series 15 $ - $ 39,167 Series 16 - - Series 17 20,528 1,050,675 Series 18 - - Series 19 8,793 12,094 $ 29,321 $ 1,101,936 The fund management fees paid for the nine months ended December 31, 2015 and 2014 are as follows: 2015 2014 Series 15 $ 278,475 $ 442,613 Series 16 82,001 7,000 Series 17 134,443 1,657,355 Series 18 305,289 75,000 Series 19 26,379 43,330 $ 826,587 $ 2,225,298 |
INVESTMENTS IN OPERATING PART15
INVESTMENTS IN OPERATING PARTNERSHIPS (Tables) | 9 Months Ended |
Dec. 31, 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 December 31, 2015 and 2014 is as follows: 2015 2014 Series 15 14 18 Series 16 20 21 Series 17 9 13 Series 18 12 13 Series 19 6 6 61 71 |
Schedule Of Contributions Payable [Table Text Block] | The contributions payable at December 31, 2015 and 2014 are as follows: 2015 2014 Series 15 $ - $ - Series 16 50,008 50,008 Series 17 7,893 7,893 Series 18 18,554 18,554 Series 19 - - $ 76,455 $ 76,455 |
Schedule Of Dispositions By Series [Table Text Block] | During the nine months ended December 31, 2015 the Fund disposed of nine Operating Partnerships and the Fund received additional proceeds from one operating limited partnership disposed of in the prior year. A summary of the dispositions by Series for December 31, 2015 is as follows: Operating Sale of Fund Proceeds Gain on Series 15 3 1 $ 465,691 $ 465,691 Series 16 1 - 243,000 243,000 Series 17 3 1 5,692,104 5,692,104 Series 18 - - 370,583 15,294 Series 19 - - - - Total 7 2 $ 6,771,378 $ 6,416,089 * Fund proceeds from disposition include $355,289 which was receivable as of March 31, 2015 for Series 18. During the nine months ended December 31, 2014 the Fund disposed of twenty-four Operating Partnerships. A summary of the dispositions by Series for December 31, 2014 is as follows: Operating Sale of Fund Proceeds Gain on Series 15 3 3 $ 700,342 $ 700,342 Series 16 6 1 254,999 254,999 Series 17 3 1 1,130,141 1,138,960 Series 18 4 1 266,641 266,641 Series 19 1 1 504,722 504,722 Total 17 7 $ 2,856,845 $ 2,865,664 * Fund proceeds from disposition does not include the following amount which was due to a writeoff of capital contribution payable of $8,819 for Series 17. |
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 nine months ended September 30, 2015. COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS 2015 2014 Revenues Rental $ 9,263,250 $ 13,517,497 Interest and other 203,300 364,282 9,466,550 13,881,779 Expenses Interest 1,168,758 1,923,690 Depreciation and amortization 2,434,100 3,419,555 Operating expenses 7,024,286 10,128,033 NET LOSS $ (1,160,594) $ (1,589,499) Net loss allocation to Boston (1,148,987) (1,573,604) Net loss allocated to other (11,607) (15,895) * Amounts include $1,148,987 and $1,573,604 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. Series 15 2015 2014 Revenues Rental $ 1,920,483 $ 2,670,211 Interest and other 53,372 66,915 1,973,855 2,737,126 Expenses Interest 265,459 364,843 Depreciation and amortization 470,927 639,706 Operating expenses 1,558,108 1,995,685 NET LOSS $ (320,639) $ (263,108) Net loss allocation to Boston (317,433) (260,477) Net loss allocated to other (3,206) (2,631) * Amounts include $317,433 and $260,477 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. Series 16 2015 2014 Revenues Rental $ 3,488,086 $ 3,804,610 Interest and other 58,156 57,426 3,546,242 3,862,036 Expenses Interest 447,960 547,459 Depreciation and amortization 906,232 992,326 Operating expenses 2,458,162 2,873,155 NET LOSS $ (266,112) $ (550,904) Net loss allocation to Boston (263,451) (545,395) Net loss allocated to other (2,661) (5,509) * Amounts include $263,451 and $545,395 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. Series 17 2015 2014 Revenues Rental $ 1,743,912 $ 3,778,762 Interest and other 31,147 99,978 1,775,059 3,878,740 Expenses Interest 202,066 532,663 Depreciation and amortization 529,955 891,821 Operating expenses 1,288,090 2,714,897 NET LOSS $ (245,052) $ (260,641) Net loss allocation to Boston (242,600) (258,034) Net loss allocated to other (2,452) (2,607) * Amounts include $242,600 and $258,034 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. Series 18 2015 2014 Revenues Rental $ 1,562,143 $ 2,410,791 Interest and other 41,943 86,733 1,604,086 2,497,524 Expenses Interest 176,644 317,214 Depreciation and amortization 414,098 679,907 Operating expenses 1,237,380 1,838,418 NET LOSS $ (224,036) $ (338,015) Net loss allocation to Boston (221,796) (334,635) Net loss allocated to other (2,240) (3,380) * Amounts include $221,796 and $334,635 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. Series 19 2015 2014 Revenues Rental $ 548,626 $ 853,123 Interest and other 18,682 53,230 567,308 906,353 Expenses Interest 76,629 161,511 Depreciation and amortization 112,888 215,795 Operating expenses 482,546 705,878 NET LOSS $ (104,755) $ (176,831) Net loss allocation to Boston (103,707) (175,063) Net loss allocated to other (1,048) (1,768) * Amounts include $103,707 and $175,063 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. |
ORGANIZATION (Details Textual)
ORGANIZATION (Details Textual) - USD ($) | Sep. 04, 1993 | Dec. 31, 2015 | Mar. 31, 2015 |
Organization And Summary Of Significant Accounting Policies [Line Items] | |||
Units of limited partnership interest, authorized | 20,000,000 | 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 | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Related Party Transaction [Line Items] | ||
Accrued management fees | $ 107,516 | $ 176,831 |
Series Fifteen [Member] | ||
Related Party Transaction [Line Items] | ||
Accrued management fees | 11,073 | 25,047 |
Series Sixteen [Member] | ||
Related Party Transaction [Line Items] | ||
Accrued management fees | 43,218 | 54,498 |
Series Seventeen [Member] | ||
Related Party Transaction [Line Items] | ||
Accrued management fees | 20,528 | 45,952 |
Series Eighteen [Member] | ||
Related Party Transaction [Line Items] | ||
Accrued management fees | 23,904 | 39,240 |
Series Nineteen [Member] | ||
Related Party Transaction [Line Items] | ||
Accrued management fees | $ 8,793 | $ 12,094 |
RELATED PARTY TRANSACTIONS (D18
RELATED PARTY TRANSACTIONS (Details 1) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Related Party Transaction [Line Items] | ||||
Management fees paid | $ 29,321 | $ 1,101,936 | $ 826,587 | $ 2,225,298 |
Series Fifteen [Member] | ||||
Related Party Transaction [Line Items] | ||||
Management fees paid | 0 | 39,167 | 278,475 | 442,613 |
Series Sixteen [Member] | ||||
Related Party Transaction [Line Items] | ||||
Management fees paid | 0 | 0 | 82,001 | 7,000 |
Series Seventeen [Member] | ||||
Related Party Transaction [Line Items] | ||||
Management fees paid | 20,528 | 1,050,675 | 134,443 | 1,657,355 |
Series Eighteen [Member] | ||||
Related Party Transaction [Line Items] | ||||
Management fees paid | 0 | 0 | 305,289 | 75,000 |
Series Nineteen [Member] | ||||
Related Party Transaction [Line Items] | ||||
Management fees paid | $ 8,793 | $ 12,094 | $ 26,379 | $ 43,330 |
INVESTMENTS IN OPERATING PART19
INVESTMENTS IN OPERATING PARTNERSHIPS (Details) - Number | Dec. 31, 2015 | Dec. 31, 2014 |
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 61 | 71 |
Series Fifteen [Member] | ||
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 14 | 18 |
Series Sixteen [Member] | ||
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 20 | 21 |
Series Seventeen [Member] | ||
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 9 | 13 |
Series Eighteen [Member] | ||
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 12 | 13 |
Series Nineteen [Member] | ||
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 6 | 6 |
INVESTMENTS IN OPERATING PART20
INVESTMENTS IN OPERATING PARTNERSHIPS (Details 1) - USD ($) | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Contributions Payable [Line Items] | |||
Capital contributions payable | $ 76,455 | $ 76,455 | $ 76,455 |
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 | 7,893 |
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 | 9 Months Ended | ||||
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2015USD ($)Number | Dec. 31, 2014USD ($)Number | |||
Dispositions By Series Disclosure [Line Items] | ||||||
Operating Partnership Interest Transferred | Number | 7 | 17 | ||||
Sale of Underlying Operating Partnership | Number | 2 | 7 | ||||
Fund Proceeds from Disposition | $ | $ 6,771,378 | [1] | $ 2,856,845 | [2] | ||
Gain on Disposition | $ | $ 130,600 | $ 2,475,964 | $ 6,416,089 | $ 2,865,664 | ||
Series Fifteen [Member] | ||||||
Dispositions By Series Disclosure [Line Items] | ||||||
Operating Partnership Interest Transferred | Number | 3 | 3 | ||||
Sale of Underlying Operating Partnership | Number | 1 | 3 | ||||
Fund Proceeds from Disposition | $ | $ 465,691 | [1] | $ 700,342 | [2] | ||
Gain on Disposition | $ | 130,600 | 317,642 | $ 465,691 | $ 700,342 | ||
Series Sixteen [Member] | ||||||
Dispositions By Series Disclosure [Line Items] | ||||||
Operating Partnership Interest Transferred | Number | 1 | 6 | ||||
Sale of Underlying Operating Partnership | Number | 0 | 1 | ||||
Fund Proceeds from Disposition | $ | $ 243,000 | [1] | $ 254,999 | [2] | ||
Gain on Disposition | $ | 0 | 247,999 | $ 243,000 | $ 254,999 | ||
Series Seventeen [Member] | ||||||
Dispositions By Series Disclosure [Line Items] | ||||||
Operating Partnership Interest Transferred | Number | 3 | 3 | ||||
Sale of Underlying Operating Partnership | Number | 1 | 1 | ||||
Fund Proceeds from Disposition | $ | $ 5,692,104 | [1] | $ 1,130,141 | [2] | ||
Gain on Disposition | $ | 0 | 1,138,960 | $ 5,692,104 | $ 1,138,960 | ||
Series Eighteen [Member] | ||||||
Dispositions By Series Disclosure [Line Items] | ||||||
Operating Partnership Interest Transferred | Number | 0 | 4 | ||||
Sale of Underlying Operating Partnership | Number | 0 | 1 | ||||
Fund Proceeds from Disposition | $ | $ 370,583 | [1] | $ 266,641 | [2] | ||
Gain on Disposition | $ | 0 | 266,641 | $ 15,294 | $ 266,641 | ||
Series Nineteen [Member] | ||||||
Dispositions By Series Disclosure [Line Items] | ||||||
Operating Partnership Interest Transferred | Number | 0 | 1 | ||||
Sale of Underlying Operating Partnership | Number | 0 | 1 | ||||
Fund Proceeds from Disposition | $ | $ 0 | [1] | $ 504,722 | [2] | ||
Gain on Disposition | $ | $ 0 | $ 504,722 | $ 0 | $ 504,722 | ||
[1] | Fund proceeds from disposition include $355,289 which was receivable as of March 31, 2015 for Series 18. | |||||
[2] | Fund proceeds from disposition does not include the following amount which was due to a writeoff of capital contribution payable of $8,819 for Series 17. |
INVESTMENTS IN OPERATING PART22
INVESTMENTS IN OPERATING PARTNERSHIPS (Details 3) - USD ($) | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | ||
Revenues | |||
Rental | $ 9,263,250 | $ 13,517,497 | |
Interest and other | 203,300 | 364,282 | |
Operating Partnerships Revenues | 9,466,550 | 13,881,779 | |
Expenses | |||
Interest | 1,168,758 | 1,923,690 | |
Depreciation and amortization | 2,434,100 | 3,419,555 | |
Operating expenses | 7,024,286 | 10,128,033 | |
Operating Partnerships Total Expenses | 10,627,144 | 15,471,278 | |
NET LOSS | (1,160,594) | (1,589,499) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | [1] | (1,148,987) | (1,573,604) |
Net loss allocated to other partners | (11,607) | (15,895) | |
Series Fifteen [Member] | |||
Revenues | |||
Rental | 1,920,483 | 2,670,211 | |
Interest and other | 53,372 | 66,915 | |
Operating Partnerships Revenues | 1,973,855 | 2,737,126 | |
Expenses | |||
Interest | 265,459 | 364,843 | |
Depreciation and amortization | 470,927 | 639,706 | |
Operating expenses | 1,558,108 | 1,995,685 | |
Operating Partnerships Total Expenses | 2,294,494 | 3,000,234 | |
NET LOSS | (320,639) | (263,108) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | [2] | (317,433) | (260,477) |
Net loss allocated to other partners | (3,206) | (2,631) | |
Series Sixteen [Member] | |||
Revenues | |||
Rental | 3,488,086 | 3,804,610 | |
Interest and other | 58,156 | 57,426 | |
Operating Partnerships Revenues | 3,546,242 | 3,862,036 | |
Expenses | |||
Interest | 447,960 | 547,459 | |
Depreciation and amortization | 906,232 | 992,326 | |
Operating expenses | 2,458,162 | 2,873,155 | |
Operating Partnerships Total Expenses | 3,812,354 | 4,412,940 | |
NET LOSS | (266,112) | (550,904) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | [3] | (263,451) | (545,395) |
Net loss allocated to other partners | (2,661) | (5,509) | |
Series Seventeen [Member] | |||
Revenues | |||
Rental | 1,743,912 | 3,778,762 | |
Interest and other | 31,147 | 99,978 | |
Operating Partnerships Revenues | 1,775,059 | 3,878,740 | |
Expenses | |||
Interest | 202,066 | 532,663 | |
Depreciation and amortization | 529,955 | 891,821 | |
Operating expenses | 1,288,090 | 2,714,897 | |
Operating Partnerships Total Expenses | 2,020,111 | 4,139,381 | |
NET LOSS | (245,052) | (260,641) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | [4] | (242,600) | (258,034) |
Net loss allocated to other partners | (2,452) | (2,607) | |
Series Eighteen [Member] | |||
Revenues | |||
Rental | 1,562,143 | 2,410,791 | |
Interest and other | 41,943 | 86,733 | |
Operating Partnerships Revenues | 1,604,086 | 2,497,524 | |
Expenses | |||
Interest | 176,644 | 317,214 | |
Depreciation and amortization | 414,098 | 679,907 | |
Operating expenses | 1,237,380 | 1,838,418 | |
Operating Partnerships Total Expenses | 1,828,122 | 2,835,539 | |
NET LOSS | (224,036) | (338,015) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | [5] | (221,796) | (334,635) |
Net loss allocated to other partners | (2,240) | (3,380) | |
Series Nineteen [Member] | |||
Revenues | |||
Rental | 548,626 | 853,123 | |
Interest and other | 18,682 | 53,230 | |
Operating Partnerships Revenues | 567,308 | 906,353 | |
Expenses | |||
Interest | 76,629 | 161,511 | |
Depreciation and amortization | 112,888 | 215,795 | |
Operating expenses | 482,546 | 705,878 | |
Operating Partnerships Total Expenses | [6] | 672,063 | 1,083,184 |
NET LOSS | (104,755) | (176,831) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | (103,707) | (175,063) | |
Net loss allocated to other partners | $ (1,048) | $ (1,768) | |
[1] | Fund proceeds from disposition does not include the following amount which was due to a writeoff of capital contribution payable of $8,819 for Series 17. | ||
[2] | Amounts include $317,433 and $260,477 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. | ||
[3] | Amounts include $263,451 and $545,395 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. | ||
[4] | Amounts include $242,600 and $258,034 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. | ||
[5] | Amounts include $221,796 and $334,635 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. | ||
[6] | Amounts include $103,707 and $175,063 for 2015 and 2014, respectively, of loss not recognized under the equity method of accounting. |
INVESTMENTS IN OPERATING PART23
INVESTMENTS IN OPERATING PARTNERSHIPS (Details Textual) - USD ($) | 9 Months Ended | |||
Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Mar. 31, 2015 | |
Investments In Operating Limited Partnerships [Line Items] | ||||
Income Loss Not Recognized Under Equity Method Accounting | $ 1,148,987 | $ 1,573,604 | ||
Series Fifteen [Member] | ||||
Investments In Operating Limited Partnerships [Line Items] | ||||
Income Loss Not Recognized Under Equity Method Accounting | 317,433 | 260,477 | ||
Series Sixteen [Member] | ||||
Investments In Operating Limited Partnerships [Line Items] | ||||
Income Loss Not Recognized Under Equity Method Accounting | 263,451 | 545,395 | ||
Series Seventeen [Member] | ||||
Investments In Operating Limited Partnerships [Line Items] | ||||
Income Loss Not Recognized Under Equity Method Accounting | 242,600 | 258,034 | ||
Write Off Of Capital Contribution Payable | $ 8,819 | |||
Series Eighteen [Member] | ||||
Investments In Operating Limited Partnerships [Line Items] | ||||
Income Loss Not Recognized Under Equity Method Accounting | 221,796 | 334,635 | ||
Fund Receivable | $ 355,289 | |||
Series Nineteen [Member] | ||||
Investments In Operating Limited Partnerships [Line Items] | ||||
Income Loss Not Recognized Under Equity Method Accounting | $ 103,707 | $ 175,063 |