Document And Entity Information
Document And Entity Information | 3 Months Ended |
Jun. 30, 2016shares | |
Document Information [Line Items] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2016 |
Document Fiscal Year Focus | 2,017 |
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, 2016 | Mar. 31, 2016 |
ASSETS | ||
Cash and cash equivalents | $ 1,815,545 | $ 1,783,433 |
Assets | 1,815,545 | 1,783,433 |
LIABILITIES | ||
Accounts payable & accrued expenses | 55,574 | 60,728 |
Accounts payable affiliates (Note C) | 15,349,916 | 15,273,764 |
Capital contributions payable (Note D) | 26,447 | 76,455 |
Liabilities | 15,431,937 | 15,410,947 |
PARTNERS' CAPITAL (DEFICIT) | ||
Assignees Units of limited partnership interest | (11,724,499) | (11,735,510) |
General Partner | (1,891,893) | (1,892,004) |
Partners' capital (deficit) | (13,616,392) | (13,627,514) |
Liabilities and Stockholders' Equity | 1,815,545 | 1,783,433 |
Series Fifteen [Member] | ||
ASSETS | ||
Cash and cash equivalents | 104,830 | 116,858 |
Assets | 104,830 | 116,858 |
LIABILITIES | ||
Accounts payable & accrued expenses | 6,246 | 12,744 |
Accounts payable affiliates (Note C) | 3,013,428 | 3,004,401 |
Capital contributions payable (Note D) | 0 | 0 |
Liabilities | 3,019,674 | 3,017,145 |
PARTNERS' CAPITAL (DEFICIT) | ||
Assignees Units of limited partnership interest | (2,563,506) | (2,549,095) |
General Partner | (351,338) | (351,192) |
Partners' capital (deficit) | (2,914,844) | (2,900,287) |
Liabilities and Stockholders' Equity | 104,830 | 116,858 |
Series Sixteen [Member] | ||
ASSETS | ||
Cash and cash equivalents | 500,074 | 381,450 |
Assets | 500,074 | 381,450 |
LIABILITIES | ||
Accounts payable & accrued expenses | 31,828 | 10,987 |
Accounts payable affiliates (Note C) | 8,173,900 | 8,130,679 |
Capital contributions payable (Note D) | 0 | 50,008 |
Liabilities | 8,205,728 | 8,191,674 |
PARTNERS' CAPITAL (DEFICIT) | ||
Assignees Units of limited partnership interest | (7,161,990) | (7,265,514) |
General Partner | (543,664) | (544,710) |
Partners' capital (deficit) | (7,705,654) | (7,810,224) |
Liabilities and Stockholders' Equity | 500,074 | 381,450 |
Series Seventeen [Member] | ||
ASSETS | ||
Cash and cash equivalents | 608,459 | 640,398 |
Assets | 608,459 | 640,398 |
LIABILITIES | ||
Accounts payable & accrued expenses | 10,000 | 16,499 |
Accounts payable affiliates (Note C) | 0 | 0 |
Capital contributions payable (Note D) | 7,893 | 7,893 |
Liabilities | 17,893 | 24,392 |
PARTNERS' CAPITAL (DEFICIT) | ||
Assignees Units of limited partnership interest | 956,867 | 982,053 |
General Partner | (366,301) | (366,047) |
Partners' capital (deficit) | 590,566 | 616,006 |
Liabilities and Stockholders' Equity | 608,459 | 640,398 |
Series Eighteen [Member] | ||
ASSETS | ||
Cash and cash equivalents | 337,537 | 353,832 |
Assets | 337,537 | 353,832 |
LIABILITIES | ||
Accounts payable & accrued expenses | 0 | 6,499 |
Accounts payable affiliates (Note C) | 4,162,588 | 4,138,684 |
Capital contributions payable (Note D) | 18,554 | 18,554 |
Liabilities | 4,181,142 | 4,163,737 |
PARTNERS' CAPITAL (DEFICIT) | ||
Assignees Units of limited partnership interest | (3,494,941) | (3,461,578) |
General Partner | (348,664) | (348,327) |
Partners' capital (deficit) | (3,843,605) | (3,809,905) |
Liabilities and Stockholders' Equity | 337,537 | 353,832 |
Series Nineteen [Member] | ||
ASSETS | ||
Cash and cash equivalents | 264,645 | 290,895 |
Assets | 264,645 | 290,895 |
LIABILITIES | ||
Accounts payable & accrued expenses | 7,500 | 13,999 |
Accounts payable affiliates (Note C) | 0 | 0 |
Capital contributions payable (Note D) | 0 | 0 |
Liabilities | 7,500 | 13,999 |
PARTNERS' CAPITAL (DEFICIT) | ||
Assignees Units of limited partnership interest | 539,071 | 558,624 |
General Partner | (281,926) | (281,728) |
Partners' capital (deficit) | 257,145 | 276,896 |
Liabilities and Stockholders' Equity | $ 264,645 | $ 290,895 |
CONDENSED BALANCE SHEETS _Paren
CONDENSED BALANCE SHEETS [Parenthetical] - $ / shares | Jun. 30, 2016 | Mar. 31, 2016 | 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 | 21,902,747 | 21,902,747 | |
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 | 3,848,900 | 3,848,900 | |
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 | 5,404,500 | 5,404,500 | |
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 | 4,972,947 | 4,972,947 | |
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 | 3,605,200 | 3,605,200 | |
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 | 4,071,200 | 4,071,200 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Income | ||
Interest income | $ 810 | $ 1,280 |
Other income | 9,629 | 16,622 |
Total income | 10,439 | 17,902 |
Share of Income from Operating Partnerships(Note D) | 147,623 | 5,850,728 |
Expenses | ||
Professional fees | 26,302 | 26,640 |
Fund management fee, net (Note C) | 82,339 | 9,812 |
General and administrative expenses | 38,299 | 17,388 |
Operating expenses | 146,940 | 53,840 |
NET INCOME (LOSS) | 11,122 | 5,814,790 |
Net income (loss) allocated to limited assignees | 11,011 | 5,756,642 |
Net income (loss) allocated to general partner | $ 111 | $ 58,148 |
Net income (loss) per BAC (in dollars per share) | $ 0 | $ 0.26 |
Series Fifteen [Member] | ||
Income | ||
Interest income | $ 148 | $ 185 |
Other income | 0 | 0 |
Total income | 148 | 185 |
Share of Income from Operating Partnerships(Note D) | 0 | 325,769 |
Expenses | ||
Professional fees | 5,904 | 6,120 |
Fund management fee, net (Note C) | 2,315 | (58,036) |
General and administrative expenses | 6,486 | 3,366 |
Operating expenses | 14,705 | (48,550) |
NET INCOME (LOSS) | (14,557) | 374,504 |
Net income (loss) allocated to limited assignees | (14,411) | 370,759 |
Net income (loss) allocated to general partner | $ (146) | $ 3,745 |
Net income (loss) per BAC (in dollars per share) | $ 0 | $ 0.10 |
Series Sixteen [Member] | ||
Income | ||
Interest income | $ 213 | $ 122 |
Other income | 603 | 401 |
Total income | 816 | 523 |
Share of Income from Operating Partnerships(Note D) | 147,623 | 0 |
Expenses | ||
Professional fees | 6,499 | 6,780 |
Fund management fee, net (Note C) | 29,195 | 38,290 |
General and administrative expenses | 8,175 | 3,953 |
Operating expenses | 43,869 | 49,023 |
NET INCOME (LOSS) | 104,570 | (48,500) |
Net income (loss) allocated to limited assignees | 103,524 | (48,015) |
Net income (loss) allocated to general partner | $ 1,046 | $ (485) |
Net income (loss) per BAC (in dollars per share) | $ 0.02 | $ (0.01) |
Series Seventeen [Member] | ||
Income | ||
Interest income | $ 270 | $ 314 |
Other income | 8,943 | 16,138 |
Total income | 9,213 | 16,452 |
Share of Income from Operating Partnerships(Note D) | 0 | 5,524,959 |
Expenses | ||
Professional fees | 5,056 | 5,130 |
Fund management fee, net (Note C) | 19,932 | (1,689) |
General and administrative expenses | 9,665 | 3,596 |
Operating expenses | 34,653 | 7,037 |
NET INCOME (LOSS) | (25,440) | 5,534,374 |
Net income (loss) allocated to limited assignees | (25,186) | 5,479,030 |
Net income (loss) allocated to general partner | $ (254) | $ 55,344 |
Net income (loss) per BAC (in dollars per share) | $ (0.01) | $ 1.1 |
Series Eighteen [Member] | ||
Income | ||
Interest income | $ 85 | $ 158 |
Other income | 0 | 0 |
Total income | 85 | 158 |
Share of Income from Operating Partnerships(Note D) | 0 | 0 |
Expenses | ||
Professional fees | 5,022 | 5,130 |
Fund management fee, net (Note C) | 22,854 | 23,204 |
General and administrative expenses | 5,909 | 3,136 |
Operating expenses | 33,785 | 31,470 |
NET INCOME (LOSS) | (33,700) | (31,312) |
Net income (loss) allocated to limited assignees | (33,363) | (30,999) |
Net income (loss) allocated to general partner | $ (337) | $ (313) |
Net income (loss) per BAC (in dollars per share) | $ (0.01) | $ (0.01) |
Series Nineteen [Member] | ||
Income | ||
Interest income | $ 94 | $ 501 |
Other income | 83 | 83 |
Total income | 177 | 584 |
Share of Income from Operating Partnerships(Note D) | 0 | 0 |
Expenses | ||
Professional fees | 3,821 | 3,480 |
Fund management fee, net (Note C) | 8,043 | 8,043 |
General and administrative expenses | 8,064 | 3,337 |
Operating expenses | 19,928 | 14,860 |
NET INCOME (LOSS) | (19,751) | (14,276) |
Net income (loss) allocated to limited assignees | (19,553) | (14,133) |
Net income (loss) allocated to general partner | $ (198) | $ (143) |
Net income (loss) per BAC (in dollars per share) | $ 0 | $ 0 |
CONDENSED STATEMENTS OF CHANGES
CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT) - 3 months ended Jun. 30, 2016 - 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, 2016 | $ (13,627,514) | $ (11,735,510) | $ (1,892,004) | $ (2,900,287) | $ (2,549,095) | $ (351,192) | $ (7,810,224) | $ (7,265,514) | $ (544,710) | $ 616,006 | $ 982,053 | $ (366,047) | $ (3,809,905) | $ (3,461,578) | $ (348,327) | $ 276,896 | $ 558,624 | $ (281,728) |
Net income (loss) | 11,122 | 11,011 | 111 | (14,557) | (14,411) | (146) | 104,570 | 103,524 | 1,046 | (25,440) | (25,186) | (254) | (33,700) | (33,363) | (337) | (19,751) | (19,553) | (198) |
Partners' capital (deficit) at Jun. 30, 2016 | $ (13,616,392) | $ (11,724,499) | $ (1,891,893) | $ (2,914,844) | $ (2,563,506) | $ (351,338) | $ (7,705,654) | $ (7,161,990) | $ (543,664) | $ 590,566 | $ 956,867 | $ (366,301) | $ (3,843,605) | $ (3,494,941) | $ (348,664) | $ 257,145 | $ 539,071 | $ (281,926) |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | |||
Cash flows from operating activities: | ||||
Net Income (loss) | $ 11,122 | $ 5,814,790 | ||
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | ||||
Share of Income from Operating Partnerships | (147,623) | (5,850,728) | ||
Changes in assets and liabilities | ||||
(Decrease) Increase in accounts payable and accrued expenses | (5,154) | 17,800 | ||
Decrease in other assets | 0 | 2,200 | ||
(Decrease) Increase in accounts payable affiliates | 76,152 | 38,584 | ||
Net cash (used in) provided by operating activities | (65,503) | 22,646 | ||
Cash flows from investing activities: | ||||
Proceeds from the disposition of Operating Partnerships | 97,615 | [1] | 6,192,561 | [2] |
Net cash provided by investing activities | 97,615 | 6,192,561 | ||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 32,112 | 6,215,207 | ||
Cash and cash equivalents, beginning | 1,783,433 | 2,523,234 | ||
Cash and cash equivalents, ending | 1,815,545 | 8,738,441 | ||
Series Fifteen [Member] | ||||
Cash flows from operating activities: | ||||
Net Income (loss) | (14,557) | 374,504 | ||
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | ||||
Share of Income from Operating Partnerships | 0 | (325,769) | ||
Changes in assets and liabilities | ||||
(Decrease) Increase in accounts payable and accrued expenses | (6,498) | 3,000 | ||
Decrease in other assets | 0 | 0 | ||
(Decrease) Increase in accounts payable affiliates | 9,027 | 19,131 | ||
Net cash (used in) provided by operating activities | (12,028) | 70,866 | ||
Cash flows from investing activities: | ||||
Proceeds from the disposition of Operating Partnerships | 0 | [1] | 325,769 | [2] |
Net cash provided by investing activities | 0 | 325,769 | ||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (12,028) | 396,635 | ||
Cash and cash equivalents, beginning | 116,858 | 414,859 | ||
Cash and cash equivalents, ending | 104,830 | 811,494 | ||
Series Sixteen [Member] | ||||
Cash flows from operating activities: | ||||
Net Income (loss) | 104,570 | (48,500) | ||
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | ||||
Share of Income from Operating Partnerships | (147,623) | 0 | ||
Changes in assets and liabilities | ||||
(Decrease) Increase in accounts payable and accrued expenses | 20,841 | 0 | ||
Decrease in other assets | 0 | 0 | ||
(Decrease) Increase in accounts payable affiliates | 43,221 | 45,774 | ||
Net cash (used in) provided by operating activities | 21,009 | (2,726) | ||
Cash flows from investing activities: | ||||
Proceeds from the disposition of Operating Partnerships | 97,615 | [1] | 0 | [2] |
Net cash provided by investing activities | 97,615 | 0 | ||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 118,624 | (2,726) | ||
Cash and cash equivalents, beginning | 381,450 | 221,108 | ||
Cash and cash equivalents, ending | 500,074 | 218,382 | ||
Series Seventeen [Member] | ||||
Cash flows from operating activities: | ||||
Net Income (loss) | (25,440) | 5,534,374 | ||
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | ||||
Share of Income from Operating Partnerships | 0 | (5,524,959) | ||
Changes in assets and liabilities | ||||
(Decrease) Increase in accounts payable and accrued expenses | (6,499) | 14,800 | ||
Decrease in other assets | 0 | 2,200 | ||
(Decrease) Increase in accounts payable affiliates | 0 | (50,225) | ||
Net cash (used in) provided by operating activities | (31,939) | (23,810) | ||
Cash flows from investing activities: | ||||
Proceeds from the disposition of Operating Partnerships | 0 | [1] | 5,524,959 | [2] |
Net cash provided by investing activities | 0 | 5,524,959 | ||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (31,939) | 5,501,149 | ||
Cash and cash equivalents, beginning | 640,398 | 197,779 | ||
Cash and cash equivalents, ending | 608,459 | 5,698,928 | ||
Series Eighteen [Member] | ||||
Cash flows from operating activities: | ||||
Net Income (loss) | (33,700) | (31,312) | ||
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | ||||
Share of Income from Operating Partnerships | 0 | 0 | ||
Changes in assets and liabilities | ||||
(Decrease) Increase in accounts payable and accrued expenses | (6,499) | 0 | ||
Decrease in other assets | 0 | 0 | ||
(Decrease) Increase in accounts payable affiliates | 23,904 | 23,904 | ||
Net cash (used in) provided by operating activities | (16,295) | (7,408) | ||
Cash flows from investing activities: | ||||
Proceeds from the disposition of Operating Partnerships | 0 | [1] | 341,833 | [2] |
Net cash provided by investing activities | 0 | 341,833 | ||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (16,295) | 334,425 | ||
Cash and cash equivalents, beginning | 353,832 | 306,518 | ||
Cash and cash equivalents, ending | 337,537 | 640,943 | ||
Series Nineteen [Member] | ||||
Cash flows from operating activities: | ||||
Net Income (loss) | (19,751) | (14,276) | ||
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | ||||
Share of Income from Operating Partnerships | 0 | 0 | ||
Changes in assets and liabilities | ||||
(Decrease) Increase in accounts payable and accrued expenses | (6,499) | 0 | ||
Decrease in other assets | 0 | 0 | ||
(Decrease) Increase in accounts payable affiliates | 0 | 0 | ||
Net cash (used in) provided by operating activities | (26,250) | (14,276) | ||
Cash flows from investing activities: | ||||
Proceeds from the disposition of Operating Partnerships | 0 | [1] | 0 | [2] |
Net cash provided by investing activities | 0 | 0 | ||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (26,250) | (14,276) | ||
Cash and cash equivalents, beginning | 290,895 | 1,382,970 | ||
Cash and cash equivalents, ending | $ 264,645 | $ 1,368,694 | ||
[1] | Fund proceeds from disposition does not include $50,008 which was due to a writeoff of capital contribution payable in Series 16. | |||
[2] | 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, 2016 | |
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 | 3 Months Ended |
Jun. 30, 2016 | |
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, 2016 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, 2016. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Jun. 30, 2016 | |
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. 2016 2015 Series 15 $ 9,027 $ 19,131 Series 16 43,221 45,774 Series 17 22,029 37,158 Series 18 23,904 23,904 Series 19 8,793 8,793 $ 106,974 $ 134,760 2016 2015 Series 15 $ - $ - Series 16 - - Series 17 22,029 87,383 Series 18 - - Series 19 8,793 8,793 $ 30,822 $ 96,176 |
INVESTMENTS IN OPERATING PARTNE
INVESTMENTS IN OPERATING PARTNERSHIPS | 3 Months Ended |
Jun. 30, 2016 | |
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, 2016 and 2015, the Fund had limited partnership interests in 60 and 68 Operating Partnerships, respectively, which own or are constructing apartment complexes. 2016 2015 Series 15 14 17 Series 16 19 21 Series 17 9 12 Series 18 12 12 Series 19 6 6 60 68 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. 2016 2015 Series 15 $ - $ - Series 16 - 50,008 Series 17 7,893 7,893 Series 18 18,554 18,554 Series 19 - - $ 26,447 $ 76,455 During the three months ended June 30, 2016 the Fund disposed of one Operating Partnership. A summary of the dispositions by Series for June 30, 2016 is as follows: Series 15 - - $ - $ - Series 16 1 - 97,615 147,623 Series 17 - - - - Series 18 - - - - Series 19 - - - - Total 1 - $ 97,615 $ 147,623 * Fund proceeds from disposition does not include $50,008 which was due to a writeoff of capital contribution payable in Series 16. 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. 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. COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS 2016 2015 Revenues Rental $ 2,700,506 $ 3,263,242 Interest and other 51,169 62,042 2,751,675 3,325,284 Expenses Interest 313,528 408,660 Depreciation and amortization 666,206 845,960 Operating expenses 2,042,583 2,514,133 NET LOSS $ (270,642) $ (443,469) Net loss allocation to Boston (267,934) (439,032) Net loss allocated to other (2,708) (4,437) * Amounts include $267,934 and $439,032 for 2016 and 2015, 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 2016 2015 Revenues Rental $ 592,173 $ 725,157 Interest and other 13,524 12,202 605,697 737,359 Expenses Interest 76,495 98,002 Depreciation and amortization 137,899 187,833 Operating expenses 412,557 560,078 NET LOSS $ (21,254) $ (108,554) Net loss allocation to Boston (21,041) (107,468) Net loss allocated to other (213) (1,086) * Amounts include $21,041 and $107,468 for 2016 and 2015, 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 2016 2015 Revenues Rental $ 850,747 $ 1,126,696 Interest and other 12,292 16,743 863,039 1,143,439 Expenses Interest 101,234 144,524 Depreciation and amortization 190,845 290,726 Operating expenses 597,955 814,159 NET LOSS $ (26,995) $ (105,970) Net loss allocation to Boston (26,725) (104,910) Net loss allocated to other (270) (1,060) * Amounts include $26,725 and $104,910 for 2016 and 2015, 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 2016 2015 Revenues Rental $ 534,473 $ 700,583 Interest and other 9,481 12,712 543,954 713,295 Expenses Interest 55,779 88,135 Depreciation and amortization 164,820 195,800 Operating expenses 414,539 533,854 NET LOSS $ (91,184) $ (104,494) Net loss allocation to Boston (90,271) (103,448) Net loss allocated to other (913) (1,046) * Amounts include $90,271 and $103,448 for 2016 and 2015, 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 2016 2015 Revenues Rental $ 536,554 $ 523,605 Interest and other 10,682 16,560 547,236 540,165 Expenses Interest 55,544 54,430 Depreciation and amortization 131,833 131,150 Operating expenses 460,742 442,777 NET LOSS $ (100,883) $ (88,192) Net loss allocation to Boston (99,874) (87,310) Net loss allocated to other (1,009) (882) * Amounts include $99,874 and $87,310 for 2016 and 2015, 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 2016 2015 Revenues Rental $ 186,559 $ 187,201 Interest and other 5,190 3,825 191,749 191,026 Expenses Interest 24,476 23,569 Depreciation and amortization 40,809 40,451 Operating expenses 156,790 163,265 NET LOSS $ (30,326) $ (36,259) Net loss allocation to Boston (30,023) (35,896) Net loss allocated to other (303) (363) * Amounts include $30,023 and $35,896 for 2016 and 2015, 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, 2016 | |
Taxable Loss [Abstract] | |
Taxable Loss [Text Block] | NOTE E - TAXABLE LOSS The Fund's taxable loss for the calendar year ended December 31, 2016 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, 2016 | |
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 2012 remain open. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Jun. 30, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | NOTE G - SUBSEQUENT EVENTS Subsequent to June 30, 2016, the Fund has entered into an agreement to transfer the interest in one operating limited partnership. The estimated transfer price and other terms for the disposition of the operating limited partnership have been determined. The estimated proceeds to be received for the operating limited partnership is $30,000. The estimated gain on the transfer of the operating limited partnership is $27,000 and is expected to be recognized in the second quarter of fiscal year ending March 31, 2017. |
PLAN OF LIQUIDATION
PLAN OF LIQUIDATION | 3 Months Ended |
Jun. 30, 2016 | |
Organization, Consolidation and Presentation Of Financial Statements [Abstract] | |
Liquidation Basis of Accounting [Text Block] | NOTE H - Plan of Liquidation On March 30, 2016, our General Partner recommended that the BAC holders approve a plan of liquidation and dissolution for the Partnership, or the "Plan." The Plan was approved by the BAC holders on June 1, 2016, and was adopted by the General Partner on June 1, 2016. Pursuant to the Plan, the General Partner would be able to, without further action by the BAC holders: liquidate the assets and wind up the business of the Partnership; make liquidating distributions in cancellation of the BACs, if any; dissolve the Partnership after the sale of all of the Partnership’s assets; and take, or cause the Partnership to take, such other acts and deeds and shall do, or cause the Partnership to do, such other things, as are necessary or appropriate in connection with the dissolution, winding up and liquidation of the Partnership, the termination of the responsibilities and liabilities of the Partnership under applicable law, and the termination of the existence of the Partnership. Since the approval of the Plan by the BAC holders, we have continued to seek to sell the assets of the Partnership and use the sale proceeds and/or other Partnership funds to pay all expenses in connection with such sales, pay or make provision for payment of all Partnership obligations and liabilities, including accrued fees, and unpaid loans to the General Partner, and distribute the remaining assets as set forth in the Partnership Agreement. We expect to complete the sale of the apartment complexes approximately three to five years after the BAC holders approval of the Plan, which was June 1, 2016. However, because of numerous uncertainties, the liquidation may take longer or shorter than expected, and the final liquidating distributions, if any, may occur months after all of the apartment complexes of any given Series have been sold. As liquidation is not imminent, the Partnership will continue to report as a going concern. For additional information regarding the sale of Partnership assets, see "Management's Discussion and Analysis of Financial Condition and Results of Operations" in this Annual Report on Form 10-K. |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 3 Months Ended |
Jun. 30, 2016 | |
Related Party Transactions [Abstract] | |
Schedule Of Gross Management Fee [Table Text Block] | The fund management fees accrued for the three months ended June 30, 2016 and 2015 are as follows: 2016 2015 Series 15 $ 9,027 $ 19,131 Series 16 43,221 45,774 Series 17 22,029 37,158 Series 18 23,904 23,904 Series 19 8,793 8,793 $ 106,974 $ 134,760 |
Schedule Of Management Fees Paid [Table Text Block] | The fund management fees paid for the three months ended June 30, 2016 and 2015 are as follows: 2016 2015 Series 15 $ - $ - Series 16 - - Series 17 22,029 87,383 Series 18 - - Series 19 8,793 8,793 $ 30,822 $ 96,176 |
INVESTMENTS IN OPERATING PART16
INVESTMENTS IN OPERATING PARTNERSHIPS (Tables) | 3 Months Ended |
Jun. 30, 2016 | |
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, 2016 and 2015 is as follows: 2016 2015 Series 15 14 17 Series 16 19 21 Series 17 9 12 Series 18 12 12 Series 19 6 6 60 68 |
Schedule Of Contributions Payable [Table Text Block] | The contributions payable at June 30, 2016 and 2015 are as follows: 2016 2015 Series 15 $ - $ - Series 16 - 50,008 Series 17 7,893 7,893 Series 18 18,554 18,554 Series 19 - - $ 26,447 $ 76,455 |
Schedule Of Dispositions By Series [Table Text Block] | During the three months ended June 30, 2016 the Fund disposed of one Operating Partnership. A summary of the dispositions by Series for June 30, 2016 is as follows: Series 15 - - $ - $ - Series 16 1 - 97,615 147,623 Series 17 - - - - Series 18 - - - - Series 19 - - - - Total 1 - $ 97,615 $ 147,623 * Fund proceeds from disposition does not include $50,008 which was due to a writeoff of capital contribution payable in Series 16. 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. |
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, 2016. COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS 2016 2015 Revenues Rental $ 2,700,506 $ 3,263,242 Interest and other 51,169 62,042 2,751,675 3,325,284 Expenses Interest 313,528 408,660 Depreciation and amortization 666,206 845,960 Operating expenses 2,042,583 2,514,133 NET LOSS $ (270,642) $ (443,469) Net loss allocation to Boston (267,934) (439,032) Net loss allocated to other (2,708) (4,437) * Amounts include $267,934 and $439,032 for 2016 and 2015, respectively, of loss not recognized under the equity method of accounting. Series 15 2016 2015 Revenues Rental $ 592,173 $ 725,157 Interest and other 13,524 12,202 605,697 737,359 Expenses Interest 76,495 98,002 Depreciation and amortization 137,899 187,833 Operating expenses 412,557 560,078 NET LOSS $ (21,254) $ (108,554) Net loss allocation to Boston (21,041) (107,468) Net loss allocated to other (213) (1,086) * Amounts include $21,041 and $107,468 for 2016 and 2015, respectively, of loss not recognized under the equity method of accounting. Series 16 2016 2015 Revenues Rental $ 850,747 $ 1,126,696 Interest and other 12,292 16,743 863,039 1,143,439 Expenses Interest 101,234 144,524 Depreciation and amortization 190,845 290,726 Operating expenses 597,955 814,159 NET LOSS $ (26,995) $ (105,970) Net loss allocation to Boston (26,725) (104,910) Net loss allocated to other (270) (1,060) * Amounts include $26,725 and $104,910 for 2016 and 2015, respectively, of loss not recognized under the equity method of accounting. Series 17 2016 2015 Revenues Rental $ 534,473 $ 700,583 Interest and other 9,481 12,712 543,954 713,295 Expenses Interest 55,779 88,135 Depreciation and amortization 164,820 195,800 Operating expenses 414,539 533,854 NET LOSS $ (91,184) $ (104,494) Net loss allocation to Boston (90,271) (103,448) Net loss allocated to other (913) (1,046) * Amounts include $90,271 and $103,448 for 2016 and 2015, respectively, of loss not recognized under the equity method of accounting. Series 18 2016 2015 Revenues Rental $ 536,554 $ 523,605 Interest and other 10,682 16,560 547,236 540,165 Expenses Interest 55,544 54,430 Depreciation and amortization 131,833 131,150 Operating expenses 460,742 442,777 NET LOSS $ (100,883) $ (88,192) Net loss allocation to Boston (99,874) (87,310) Net loss allocated to other (1,009) (882) * Amounts include $99,874 and $87,310 for 2016 and 2015, respectively, of loss not recognized under the equity method of accounting. Series 19 2016 2015 Revenues Rental $ 186,559 $ 187,201 Interest and other 5,190 3,825 191,749 191,026 Expenses Interest 24,476 23,569 Depreciation and amortization 40,809 40,451 Operating expenses 156,790 163,265 NET LOSS $ (30,326) $ (36,259) Net loss allocation to Boston (30,023) (35,896) Net loss allocated to other (303) (363) * Amounts include $30,023 and $35,896 for 2016 and 2015, respectively, of loss not recognized under the equity method of accounting. |
ORGANIZATION (Details Textual)
ORGANIZATION (Details Textual) - USD ($) | Sep. 04, 1993 | Jun. 30, 2016 | Mar. 31, 2016 |
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 | 21,902,747 | 21,902,747 | |
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 | 3,848,900 | 3,848,900 | |
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 | 5,404,500 | 5,404,500 | |
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 | 4,972,947 | 4,972,947 | |
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 | 3,605,200 | 3,605,200 | |
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 | 4,071,200 | 4,071,200 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details) - USD ($) | 3 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Related Party Transaction [Line Items] | ||
Accrued management fees | $ 106,974 | $ 134,760 |
Series Fifteen [Member] | ||
Related Party Transaction [Line Items] | ||
Accrued management fees | 9,027 | 19,131 |
Series Sixteen [Member] | ||
Related Party Transaction [Line Items] | ||
Accrued management fees | 43,221 | 45,774 |
Series Seventeen [Member] | ||
Related Party Transaction [Line Items] | ||
Accrued management fees | 22,029 | 37,158 |
Series Eighteen [Member] | ||
Related Party Transaction [Line Items] | ||
Accrued management fees | 23,904 | 23,904 |
Series Nineteen [Member] | ||
Related Party Transaction [Line Items] | ||
Accrued management fees | $ 8,793 | $ 8,793 |
RELATED PARTY TRANSACTIONS (D19
RELATED PARTY TRANSACTIONS (Details 1) - USD ($) | 3 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Related Party Transaction [Line Items] | ||
Management fees paid | $ 30,822 | $ 96,176 |
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 | 22,029 | 87,383 |
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 | $ 8,793 |
RELATED PARTY TRANSACTIONS (D20
RELATED PARTY TRANSACTIONS (Details Textual) | 3 Months Ended |
Jun. 30, 2016 | |
Related Party Transaction [Line Items] | |
Percentage Of Annual Management Fee | 0.50% |
INVESTMENTS IN OPERATING PART21
INVESTMENTS IN OPERATING PARTNERSHIPS (Details) - Number | Jun. 30, 2016 | Jun. 30, 2015 |
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 60 | 68 |
Series Fifteen [Member] | ||
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 14 | 17 |
Series Sixteen [Member] | ||
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 19 | 21 |
Series Seventeen [Member] | ||
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 9 | 12 |
Series Eighteen [Member] | ||
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 12 | 12 |
Series Nineteen [Member] | ||
Number Of Operating Partnerships [Line Items] | ||
Number Of Operating Partnerships | 6 | 6 |
INVESTMENTS IN OPERATING PART22
INVESTMENTS IN OPERATING PARTNERSHIPS (Details 1) - USD ($) | Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2015 |
Contributions Payable [Line Items] | |||
Capital contributions payable | $ 26,447 | $ 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 | 0 | 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 PART23
INVESTMENTS IN OPERATING PARTNERSHIPS (Details 2) | 3 Months Ended | |||
Jun. 30, 2016USD ($)Number | Jun. 30, 2015USD ($)Number | |||
Dispositions By Series Disclosure [Line Items] | ||||
Operating Partnership Interest Transferred | Number | 1 | 0 | ||
Sale of Underlying Operating Partnership | Number | 0 | 2 | ||
Fund Proceeds from Disposition | $ | $ 97,615 | [1] | $ 6,192,561 | [2] |
Gain on Disposition | $ | $ 147,623 | $ 5,850,728 | ||
Series Fifteen [Member] | ||||
Dispositions By Series Disclosure [Line Items] | ||||
Operating Partnership Interest Transferred | Number | 0 | 0 | ||
Sale of Underlying Operating Partnership | Number | 0 | 1 | ||
Fund Proceeds from Disposition | $ | $ 0 | [1] | $ 325,769 | [2] |
Gain on Disposition | $ | $ 0 | $ 325,769 | ||
Series Sixteen [Member] | ||||
Dispositions By Series Disclosure [Line Items] | ||||
Operating Partnership Interest Transferred | Number | 1 | 0 | ||
Sale of Underlying Operating Partnership | Number | 0 | 0 | ||
Fund Proceeds from Disposition | $ | $ 97,615 | [1] | $ 0 | [2] |
Gain on Disposition | $ | $ 147,623 | $ 0 | ||
Series Seventeen [Member] | ||||
Dispositions By Series Disclosure [Line Items] | ||||
Operating Partnership Interest Transferred | Number | 0 | 0 | ||
Sale of Underlying Operating Partnership | Number | 0 | 1 | ||
Fund Proceeds from Disposition | $ | $ 0 | [1] | $ 5,524,959 | [2] |
Gain on Disposition | $ | $ 0 | $ 5,524,959 | ||
Series Eighteen [Member] | ||||
Dispositions By Series Disclosure [Line Items] | ||||
Operating Partnership Interest Transferred | Number | 0 | 0 | ||
Sale of Underlying Operating Partnership | Number | 0 | 0 | ||
Fund Proceeds from Disposition | $ | $ 0 | [1] | $ 341,833 | [2] |
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 | ||
Fund Proceeds from Disposition | $ | $ 0 | [1] | $ 0 | [2] |
Gain on Disposition | $ | $ 0 | $ 0 | ||
[1] | Fund proceeds from disposition does not include $50,008 which was due to a writeoff of capital contribution payable in Series 16. | |||
[2] | Fund proceeds from disposition include $341,833 which was receivable as of March 31, 2015 for Series 18. |
INVESTMENTS IN OPERATING PART24
INVESTMENTS IN OPERATING PARTNERSHIPS (Details 3) - USD ($) | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | ||
Revenues | |||
Rental | $ 2,700,506 | $ 3,263,242 | |
Interest and other | 51,169 | 62,042 | |
Operating Partnerships Revenues | 2,751,675 | 3,325,284 | |
Expenses | |||
Interest | 313,528 | 408,660 | |
Depreciation and amortization | 666,206 | 845,960 | |
Operating expenses | 2,042,583 | 2,514,133 | |
Operating Partnerships Total Expenses | 3,022,317 | 3,768,753 | |
NET LOSS | (270,642) | (443,469) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | [1] | (267,934) | (439,032) |
Net loss allocated to other Partners | (2,708) | (4,437) | |
Series Fifteen [Member] | |||
Revenues | |||
Rental | 592,173 | 725,157 | |
Interest and other | 13,524 | 12,202 | |
Operating Partnerships Revenues | 605,697 | 737,359 | |
Expenses | |||
Interest | 76,495 | 98,002 | |
Depreciation and amortization | 137,899 | 187,833 | |
Operating expenses | 412,557 | 560,078 | |
Operating Partnerships Total Expenses | 626,951 | 845,913 | |
NET LOSS | (21,254) | (108,554) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | [2] | (21,041) | (107,468) |
Net loss allocated to other Partners | (213) | (1,086) | |
Series Sixteen [Member] | |||
Revenues | |||
Rental | 850,747 | 1,126,696 | |
Interest and other | 12,292 | 16,743 | |
Operating Partnerships Revenues | 863,039 | 1,143,439 | |
Expenses | |||
Interest | 101,234 | 144,524 | |
Depreciation and amortization | 190,845 | 290,726 | |
Operating expenses | 597,955 | 814,159 | |
Operating Partnerships Total Expenses | 890,034 | 1,249,409 | |
NET LOSS | (26,995) | (105,970) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | [3] | (26,725) | (104,910) |
Net loss allocated to other Partners | (270) | (1,060) | |
Series Seventeen [Member] | |||
Revenues | |||
Rental | 534,473 | 700,583 | |
Interest and other | 9,481 | 12,712 | |
Operating Partnerships Revenues | 543,954 | 713,295 | |
Expenses | |||
Interest | 55,779 | 88,135 | |
Depreciation and amortization | 164,820 | 195,800 | |
Operating expenses | 414,539 | 533,854 | |
Operating Partnerships Total Expenses | 635,138 | 817,789 | |
NET LOSS | (91,184) | (104,494) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | [4] | (90,271) | (103,448) |
Net loss allocated to other Partners | (913) | (1,046) | |
Series Eighteen [Member] | |||
Revenues | |||
Rental | 536,554 | 523,605 | |
Interest and other | 10,682 | 16,560 | |
Operating Partnerships Revenues | 547,236 | 540,165 | |
Expenses | |||
Interest | 55,544 | 54,430 | |
Depreciation and amortization | 131,833 | 131,150 | |
Operating expenses | 460,742 | 442,777 | |
Operating Partnerships Total Expenses | 648,119 | 628,357 | |
NET LOSS | (100,883) | (88,192) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | [5] | (99,874) | (87,310) |
Net loss allocated to other Partners | (1,009) | (882) | |
Series Nineteen [Member] | |||
Revenues | |||
Rental | 186,559 | 187,201 | |
Interest and other | 5,190 | 3,825 | |
Operating Partnerships Revenues | 191,749 | 191,026 | |
Expenses | |||
Interest | 24,476 | 23,569 | |
Depreciation and amortization | 40,809 | 40,451 | |
Operating expenses | 156,790 | 163,265 | |
Operating Partnerships Total Expenses | 222,075 | 227,285 | |
NET LOSS | (30,326) | (36,259) | |
Net loss allocated to Boston Capital Tax Credit Fund III L.P. | [6] | (30,023) | (35,896) |
Net loss allocated to other Partners | $ (303) | $ (363) | |
[1] | Amounts include $267,934 and $439,032 for 2016 and 2015, respectively, of loss not recognized under the equity method of accounting. | ||
[2] | Amounts include $21,041 and $107,468 for 2016 and 2015, respectively, of loss not recognized under the equity method of accounting. | ||
[3] | Amounts include $26,725 and $104,910 for 2016 and 2015, respectively, of loss not recognized under the equity method of accounting. | ||
[4] | Amounts include $90,271 and $103,448 for 2016 and 2015, respectively, of loss not recognized under the equity method of accounting. | ||
[5] | Amounts include $99,874 and $87,310 for 2016 and 2015, respectively, of loss not recognized under the equity method of accounting. | ||
[6] | Amounts include $30,023 and $35,896 for 2016 and 2015, respectively, of loss not recognized under the equity method of accounting. |
INVESTMENTS IN OPERATING PART25
INVESTMENTS IN OPERATING PARTNERSHIPS (Details Textual) - USD ($) | 3 Months Ended | ||
Jun. 30, 2016 | Mar. 31, 2016 | Mar. 31, 2015 | |
Investments In Operating Limited Partnerships [Line Items] | |||
Income Loss Not Recognized Under Equity Method Accounting | $ 267,934 | $ 439,032 | |
Series Fifteen [Member] | |||
Investments In Operating Limited Partnerships [Line Items] | |||
Income Loss Not Recognized Under Equity Method Accounting | 21,041 | 107,468 | |
Series Sixteen [Member] | |||
Investments In Operating Limited Partnerships [Line Items] | |||
Income Loss Not Recognized Under Equity Method Accounting | 26,725 | 104,910 | |
Write Off Of Capital Contribution Payable | $ 50,008 | ||
Series Seventeen [Member] | |||
Investments In Operating Limited Partnerships [Line Items] | |||
Income Loss Not Recognized Under Equity Method Accounting | 90,271 | 103,448 | |
Series Eighteen [Member] | |||
Investments In Operating Limited Partnerships [Line Items] | |||
Income Loss Not Recognized Under Equity Method Accounting | 99,874 | 87,310 | |
Fund Receivable | 341,833 | ||
Series Nineteen [Member] | |||
Investments In Operating Limited Partnerships [Line Items] | |||
Income Loss Not Recognized Under Equity Method Accounting | $ 30,023 | $ 35,896 |
SUBSEQUENT EVENTS (Details Text
SUBSEQUENT EVENTS (Details Textual) - Scenario, Forecast [Member] | 1 Months Ended |
Mar. 31, 2017USD ($) | |
Subsequent Event [Line Items] | |
Proceeds from Limited Partnership Investments | $ 30,000 |
Gain (Loss) on Disposition of Business | $ 27,000 |