Ridgewood Electric Power Trust Iv 10-Q 2006 Q2 Quarterly report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2006

or

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____ to _____

Commission file Number:   0-25430

RIDGEWOOD ELECTRIC POWER TRUST IV

(Exact Name of Registrant as Specified in Its Charter)

Delaware	22-3324608
(State of Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)

1314 King Street, Wilmington, Delaware	19801
(Address of Principal Executive Offices)	(Zip Code)

(302) 888-7444

(Issuer’s Telephone Number, Including Area Code)

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes o  No  x

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of accelerated filer and large accelerated filer in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer     o       Accelerated filer      o       Non-accelerated filer     x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes   o     No    x

As of October 31, 2007, there were 476.8875 Investor Shares outstanding.

RIDGEWOOD ELECTRIC POWER TRUST IV

FORM 10-Q

INDEX

		Page
PART I.	FINANCIAL INFORMATION
Item 1.	Financial Statements		3
Item 2.	Management’s Discussion and Analysis of Financial Condition
	and Results of Operations		9
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		11
Item 4.	Controls and Procedures		11
PART II.	OTHER INFORMATION
Item 1.	Legal Proceedings		12
Item 1A.	Risk Factors		12
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		12
Item 3.	Defaults Upon Senior Securities		12
Item 4.	Submission of Matters to a Vote of Security Holders		12
Item 5.	Other Information		12
Item 6.	Exhibits		12
SIGNATURES			13

PART I.   FINANCIAL INFORMATION

ITEM 1.   FINANCIAL STATEMENTS

RIDGEWOOD ELECTRIC POWER TRUST IV
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share data)
	June 30,			December 31,
	2006			2005
ASSETS	(unaudited)
Current assets:
Cash	$	1,315		$	639
Accounts receivable		1,890			2,045
Notes receivable, affiliates – current portion		-			207
Due from affiliates		44			95
Prepaid expenses and other current assets		106			102
Total current assets		3,355			3,088
Notes receivable, affiliates – noncurrent portion		5,128			4,926
Investments		4,239			4,174
Plant and equipment, net		8,952			9,351
Intangibles, net		2,159			2,460
Other assets		405			405
Total assets	$	24,238		$	24,404
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	347		$	582
Accrued royalty expense		393			409
Due to affiliates		778			943
Total current liabilities		1,518			1,934
Minority interest		4,986			4,632
Total  liabilities		6,504			6,566
Commitments and contingencies
Shareholders’ equity:
Shareholders’ equity (476.8875 Investor Shares           issued and outstanding)		17,825			17,928
Managing Shareholder’s accumulated deficit          (1 management share issued and outstanding)		(91	)		(90	)
Total shareholders’ equity		17,734			17,838
Total liabilities and shareholders’ equity	$	24,238		$	24,404

The accompanying notes are an integral part of these financial statements.

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RIDGEWOOD ELECTRIC POWER TRUST IV
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited, in thousands, except per share data)
	Six Months Ended June 30,						Three Months Ended June 30,
	2006			2005			2006			2005
Power generation revenue	$	3,763		$	3,789		$	1,884		$	1,872
Renewable attribute revenue		1,947			2,003			958			946
Sublease revenue		288			285			144			142
Total revenues		5,998			6,077			2,986			2,960
Cost of revenues		4,501			4,542			2,337			2,340
Gross profit		1,497			1,535			649			620
Operating expenses:
General and administrative expenses		112			161			45			94
Management fee to the Managing Shareholder		268			223			134			111
Total operating expenses		380			384			179			205
Income from operations		1,117			1,151			470			415
Other income (expense):
Interest income		218			137			106			81
Interest expense		(26	)		(25	)		(14	)		(13	)
Equity in income of Maine Hydro		755			706			379			480
Equity in (loss) income of Indeck Maine		(191	)		(450	)		(321	)		110
Total other income, net		756			368			150			658
Income before minority interest		1,873			1,519			620			1,073
Minority interest in the earnings of subsidiaries		(532	)		(559	)		(227	)		(216	)
Net income	$	1,341		$	960		$	393		$	857
Managing Shareholder – Net income	$	13		$	10		$	4		$	9
Shareholders – Net income		1,328			950			389			848
Net income per Investor Share		2,784			1,993			816			1,779
Distributions per Investor Share		3,000			1,000			1,500			-

The accompanying notes are an integral part of these financial statements.

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RIDGEWOOD ELECTRIC POWER TRUST IV
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, in thousands)
	Six Months Ended June 30,
	2006			2005
Cash flows from operating activities:
Net cash provided by operating activities	$	2,093		$	1,569
Cash flows from investing activities:
Repayment of notes receivable, affiliates		207			-
Loans to Indeck Maine		-			(1,000	)
Net cash provided by (used in) investing activities		207			(1,000	)
Cash flows from financing activities:
Cash distribution to minority interest		(178	)		(426	)
Cash distribution to shareholders		(1,446	)		(482	)
Net cash used in financing activities		(1,624	)		(908	)
Net increase (decrease)  in cash		676			(339	)
Cash, beginning of period		639			732
Cash, end of period	$	1,315		$	393

The accompanying notes are an integral part of these financial statements.

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RIDGEWOOD ELECTRIC POWER TRUST IV

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited, dollar amounts in thousands)

1.   BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules of the United States Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to SEC rules. These condensed consolidated financial statements should be read in conjunction with the Ridgewood Electric Power Trust IV (the “Trust”) Annual Report on Form 10-K for the year ended December 31, 2005 filed with the SEC on October 30, 2007 (the “2005 Form 10-K”). No significant changes have been made to the Trust’s accounting policies and estimates disclosed in the 2005 Form 10-K.

In the opinion of management, the condensed consolidated financial statements as of June 30, 2006, and for the six and three-month periods ended June 30, 2006 and 2005, include all adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the consolidated financial position, results of operations and cash flows for the periods presented. The results of operations for the six and three months ended June 30, 2006 and 2005 are not necessarily indicative of the results to be expected for the full year or any other period.

2.   DESCRIPTION OF BUSINESS

The Trust is a Delaware trust formed in September 1994. The Trust began offering shares on February 6, 1995 and concluded its offering on September 30, 1996. The objective of the Trust is to provide benefits to its shareholders through a combination of distributions of operating cash flow and capital appreciation. The Managing Shareholder of the Trust is Ridgewood Renewable Power LLC (“RRP” or the “Managing Shareholder”).

The Trust has been organized to invest primarily in independent power generation facilities, water desalinization plants and other infrastructure projects in the US. The projects owned by the Trust have characteristics that qualify the projects for government incentives. Among the incentives is ancillary revenue opportunities related to the fuel used by the power plants.

The Trust’s accompanying condensed consolidated financial statements include its wholly-owned subsidiaries and the financial statements of Ridgewood Providence Power Partners, L.P. (“Ridgewood Providence”).  The Trust’s condensed consolidated financial statements also include the Trust’s 50% interest in Ridgewood Maine Hydro Partners, L.P. (“Maine Hydro”) and its 25% interest in Ridgewood Indeck Maine Energy, LLC (“Indeck Maine”) which are accounted for under the equity method of accounting as the Trust has the ability to exercise significant influence but does not control the operating and financial policies of these entities.

The revenues generated from Ridgewood Pump Services IV Partners, L.P. ("Pump Services"), a wholly-owned subsidiary of Trust IV, was not material to the Trust’s operating results and in January 2006, the assets of the Pump Services were sold for $1 to an unaffiliated party.  The Trust did not record any gain or loss on the sale as the assets of Pump Services were fully impaired in 2003.

The Trust owns 64.3% interest in Ridgewood Providence and the remaining 35.7% minority interest is owned by Ridgewood Electric Power Trust III (“Trust III”). The interest of Trust III is presented as minority interest in the condensed consolidated balance sheets and statements of operations.

3.   RECENT ACCOUNTING PRONOUNCEMENT

FIN 48

In June 2006, the Financial Accounting Standards Board (“FASB”) issued FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes (“FIN 48”) an interpretation of FASB Statement No. 109, Accounting for Income Taxes. FIN 48 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements in accordance with SFAS 109 and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. FIN 48 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. FIN 48 will be effective for the Trust beginning January 1, 2007. The Trust does not believe that the adoption of FIN 48 will have a material impact on its consolidated financial statements.

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RIDGEWOOD ELECTRIC POWER TRUST IV

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited, dollar amounts in thousands)

4.        NOTES RECEIVABLE, AFFILIATES

In September 2005, the Trust loaned $207 to Ridgewood Power B Fund/Providence Expansion (“B Fund”), an affiliate of the Trust. The note receivable was paid off by the B Fund during the first quarter of 2006.

During the second quarter of 2005, the Trust loaned an additional $1,000 to Indeck Maine. The 2005 loan bears interest at 18% per annum. The interest income accrued on the notes receivable for the six months ended June 30, 2006 and 2005 was $202 and $137, respectively.  The interest income accrued on the notes receivable for the three months ended June 30, 2006 and 2005 was $101 and $81, respectively, which is included in notes receivable affiliates in the consolidated balance sheets.

5.        INVESTMENTS

The Trust’s investments include a 50% interest in Maine Hydro and a 25% interest in Indeck Maine.

Maine Hydro

Summarized statements of operations data for Maine Hydro for the six and three months ended June 30, 2006 and 2005 is as follows:

	Six Months Ended June 30,				Three Months Ended June 30,
	2006		2005		2006		2005
Revenues	$	3,031	$	2,947	$	1,511	$	1,766
Gross profit		1,583		1,648		787		1,099
Income from operations		1,545		1,610		778		1,092
Net income	$	1,511	$	1,412	$	759	$	960
Trust share of income in Maine Hydro	$	755	$	706	$	379	$	480

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RIDGEWOOD ELECTRIC POWER TRUST IV

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited, dollar amounts in thousands)

Indeck Maine

Summarized statements of operations data for Indeck Maine for the six months and three months ended June 30, 2006 and 2005 is as follows:

	Six Months Ended June 30,						Three Months Ended June 30,
	2006			2005			2006			2005
Revenues	$	15,685		$	10,846		$	7,339		$	6,624
Gross profit (loss)		764			(18	)		(78	)		748
Income (loss) from operations		641			(196	)		(148	)		639
Net (loss) income	$	(102	)	$	(796	)	$	(514	)	$	328
Trust share of  (loss) income in Indeck Maine	$	(191	)	$	(450	)	$	(321	)	$	110

6.        COMMITMENTS AND CONTINGENCIES

Ridgewood Providence and several of its affiliates have an agreement with a power marketer for which they are committed to sell a portion of their Renewable Portofolio Standard Attributes ("RPS Attributes") derived from their electric generation. The agreement provides such power marketer with six separate annual options to purchase such RPS Attributes from 2004 through 2009 at fixed prices, as defined. If Ridgewood Providence and its affiliates fail to supply the required number of RPS Attributes, penalties may be imposed. In accordance with the terms of the agreement, if the power marketer elects to exercise an annual option and Ridgewood Providence and its affiliates produce no renewable attributes for such option year, Ridgewood Providence and its affiliates face a maximum penalty, which is adjusted annually for the change in the consumer price index, among other things, of approximately $3,300, measured using current factors, for that option year and any other year in which an option has been exercised and no renewable attributes have been produced. Pursuant to the agreement, Ridgewood Providence and Indeck Maine are liable for 8% and 70% of the total penalty, respectively, but may be liable up to 100% in the event of the default of its affiliates. In the fourth quarters of 2007 and 2006, the power marketer notified Ridgewood Providence and its affiliates that it has elected to purchase the output for 2008 and 2007, respectively, as specified in the agreement.  In 2006 and 2005, Ridgewood Providence satisfied and delivered RPS Attributes as prescribed in the agreements and therefore no penalties were incurred.

7.        SUBSEQUENT EVENTS

On August 16, 2006, the Managing Shareholder and affiliates of the Trust filed lawsuits against the former independent registered public accounting firm for the Trust, Perelson Weiner, LLP (“Perelson Weiner”), in New Jersey Superior Court.  The suits alleged professional malpractice and breach of contract in connection with audit and accounting services performed by Perelson Weiner. On October 26, 2006, Perelson Weiner filed a counterclaim against the Trust and its affiliates alleging breach of contract due to unpaid invoices. Discovery is ongoing and no trial date has been set. The costs and expenses of the litigation are being paid for by the Managing Shareholder and affiliated management companies and not the underlying investment funds, including the Trust.

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ITEM 2.   MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The purpose of this discussion and analysis of the operating results and financial condition at June 30, 2006 is intended to help readers analyze the accompanying financial statements, notes and other supplemental information contained in this document.  Results of operations for the six-month and three-month periods ended June 30, 2006 are not necessarily indicative of results to be attained for any other period. This discussion and analysis should be read in conjunction with the accompanying financial statements, notes and other supplemental information included elsewhere in this report and Part II, Item 7 of the Trust’s Form 10-K (Management’s Discussion and Analysis of Financial Condition and Results of Operations) for the year ended December 31, 2005, as filed with the SEC on October 30, 2007.

Forward-Looking Statements

Certain statements discussed in this item and elsewhere in this Quarterly Report on Form 10-Q constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to the Trust’s plans, objectives and expectations for future events and include statements about the Trust’s expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts.   These statements are based upon management’s opinions and estimates as of the date they are made.  Although management believes that the expectations reflected in these forward-looking statements are reasonable, such forward-looking statements are subject to known and unknown risks and uncertainties that may be beyond the Trust’s control, which could cause actual results, performance and achievements to differ materially from the results, performance and achievements projected, expected, expressed or implied by the forward-looking statements. Examples of events that could cause actual results to differ materially from historical results or those anticipated include changes in political and economic conditions, federal or state regulatory structures, government mandates, the ability of customers to pay for energy received, supplies and prices of fuels, operational status of generating plants, mechanical breakdowns, volatility in the price for electric energy, natural gas, or renewable energy. Additional information concerning the factors that could cause actual results to differ materially from those in the forward-looking statements is contained in Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, of the 2005 Form 10-K. The Trust undertakes no obligation to publicly revise any forward-looking statements or cautionary factors, except as required by law.

Critical Accounting Policies and Estimates

The following discussion and analysis of the Trust’s financial condition and operating results is based on its financial statements.  The preparation of this Quarterly Report on Form 10-Q requires the Trust to make estimates and assumptions that affect the reported amount of assets and liabilities, disclosure of contingent assets and liabilities at the date of the Trust’s financial statements, and the reported amount of revenue and expenses during the reporting period. Actual results may differ from those estimates and assumptions.  No material changes have been made to the Trust’s critical accounting policies and estimates disclosed in its 2005 Form 10-K.

Results of Operations and Changes in Financial Condition

Six months ended June 30, 2006 compared to the six months ended June 30, 2005

Total revenues of $6 million for the six months ended June 30, 2006 were comparable to the same period in 2005.

Gross profit of $1.5 million for the six months ended June 30, 2006 were comparable to the same period in 2005.

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General and administrative expenses decreased by approximately $0.1 million to $0.1 million for the six months ended June 30, 2006 from $0.2 million for the same period in 2005. This decrease was primarily attributable to lower professional services fees.

Interest income for the six months ended June 30, 2006 was $0.2 million compared to $0.1 million for the same 2005 period, an increase of approximately $0.1 million was due to higher note receivable balance for the first six months of 2006.

For the first half of 2006, the Trust recorded an equity loss of $0.2 million from its investment in Indeck Maine compared to $0.4 million for the same period in 2005. The decrease in the equity loss of approximately $0.2 million was primarily due to an increase in revenues from higher production for the 2006 period, partially offset by an increase in interest expense for such period.

Total assets at June 30, 2006 were $24.2 million, a decrease of approximately $0.2 million from the December 31, 2005 balance of $24.4 million. This was primarily due to a decrease of $0.4 million in plant and equipment, $0.3 million in intangibles, and $0.2 million in accounts receivable partially offset by an increase of $0.7 million in cash. Total liabilities were comparable at June 30, 2006 and December 31, 2005.

Three months ended June 30, 2006 compared to the three months ended June 30, 2005

Total revenues of $3 million in the second quarter of 2006 were comparable to the same period in 2005.

Gross profit of $0.6 million for the second quarter of 2006 was comparable to the same period in 2005.

General and administrative expenses decreased by $49,000 to $45,000 for the quarter ended June 30, 2006 from $94,000 for the same period in 2005. The decrease was primarily attributable to lower professional services fees.

For the second quarter of 2006, the Trust recorded an equity loss of $0.3 million from its investment in Indeck Maine compared to equity income of $0.1 million for the same period in 2005. The decrease in equity income of approximately $0.4 million was primarily due to a decrease in gross profit as a result of increased fuel expenses.

Liquidity and Capital Resources

Six months ended June 30, 2006 compared to the six months ended June 30, 2005

At June 30, 2006, the Trust had cash of $1.3 million an increase of approximately $0.7 million from December 31, 2005.  The cash flows for the six months ended June 30, 2006 were $2.1 million provided by operating activities, $0.2 million provided by investing activities, partially offset by $1.6 million used in financing activities.

Cash provided by operating activities for the six months ended June 30, 2006 was $2.1 million compared to $1.6 million for the six months ended June 30, 2005. The increase of approximately $0.5 million in cash flow in the first half of 2006 was primarily due to an increase in distributions from Maine Hydro.

Cash provided by investing activities for the six months ended June 30, 2006 was $0.2 million compared to cash used in of $1 million for the same period in 2005. In the first half of 2006, cash provided by investing activities included repayment of $0.2 million loan from Ridgewood Power B Fund/Providence Expansion (“B Fund”).  In the first half of 2005, cash used in investing activities included loans to Indeck Maine.

Cash used in financing activities for the first half of 2006 was $1.6 million compared to $0.9 million for the same period in 2005. In the first half of 2006, cash used in financing activities included $1.4 million and $0.2 million in cash distributions to shareholders and minority interest, respectively. For the first six months of 2005, financing activities included $0.5 million and $0.4 million in cash distributions to shareholders and minority interest, respectively.

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Future Liquidity and Capital Resource Requirements

The Trust expects cash flows from operating activities, along with existing cash and cash equivalents will be sufficient to provide working capital and fund capital expenditures for the next 12 months.

Off-Balance Sheet Arrangements and Contractual Obligations and Commitments

The Trust does not have any off-balance sheet arrangements or contractual obligations or commitments as of June 30, 2006, except as discussed in the 2005 Form 10-K.

ITEM 3.   QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The disclosure required by this Item is omitted pursuant to Item 305(e) of Regulation S-K.

ITEM 4.   CONTROLS AND PROCEDURES

In accordance with Rule 13a-15(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Trust’s Chief Executive Officer and Chief Financial Officer evaluate the effectiveness of the Trust’s disclosure controls and procedures. A system of disclosure controls and procedures is designed to ensure that information required to be disclosed by a registrant in reports filed with the Exchange Act are recorded, processed, summarized and reported within the time periods specified in the applicable rules and forms.  This includes disclosure controls and procedures designed to ensure that information required to be disclosed by a registrant is accumulated and communicated to senior management so as to allow timely decisions regarding required disclosure. A review of these controls and procedures was done by the Trust as of June 30, 2006, which revealed that the following material weaknesses previously identified continue to exist:

(i) a lack of sufficient personnel with relevant experience to develop, administer and monitor disclosure controls and procedures to enable the Trust to comply efficiently, or on a timely basis, with its financial reporting obligations,

(ii) inadequate disclosure controls and procedures, including inadequate record retention and review policies that would enable the Trust to meet its financial reporting and disclosure obligations in an efficient and timely manner.

As a result of these weaknesses, the Trust has not timely met its reporting obligations under the Exchange Act.

During the quarter ended June 30, 2006, the Trust engaged a national accounting firm to evaluate procedures and controls over financial reporting. The firm made a report to the Managing Shareholder in May 2006. Since issuance, the Trust implemented some of the firm’s recommendations, and is in the process of evaluating the remaining recommendations. Except as noted above, the Trust’s Chief Executive Officer and Chief Financial Officer have concluded that there were no other changes in the Trust’s internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the Securities Exchange Act of 1934, as amended) that occurred during the quarter ended June 30, 2006 that have materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.

Since the review, the Trust has implemented the following changes in internal control over financial reporting:

· Increased the number of degreed accountants. Additional staff expansion is underway.

· In August 2006, engaged a national accounting firm to supply accounting personnel to assist while personnel hiring is underway. The work performed by the firm is under the direct supervision of the Trust’s Chief Financial Officer and Controller.

· In May 2007, the Trust appointed a new Chief Financial Officer who is a Certified Public Accountant with approximately 29 years of professional accounting experience, including prior experiences as a financial officer of publicly traded companies.

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The Trust believes that the completion of the expansion of the accounting and financial reporting staff and implementation of recommended procedures will mitigate the above weaknesses. However, due to the Trust’s delinquencies in meeting its filing deadlines under the Exchange Act, the Trust expects these deficiencies to continue to be material weaknesses at least until such time as the Trust is no longer delinquent in its Exchange Act filings.

The Trust’s Chief Executive Officer and Chief Financial Officer have evaluated the effectiveness of the Trust’s disclosure controls and procedures as of the end of the period covered by this report pursuant to Rule 13a-15(b) under the Exchange Act and concluded that, as of the end of the period covered by this report, because of the material weaknesses noted above, the Trust’s disclosure controls and procedures were not effective.

PART II.   OTHER INFORMATION

ITEM 1.   LEGAL PROCEEDINGS

There have been no material changes to the legal proceedings disclosed in the Trust’s 2005 Form 10-K.

ITEM 1A.   RISK FACTORS

For information regarding factors that could affect the Trust’s results of operations, financial condition and liquidity, see the risk factors discussed under “Risk Factors”  in Item 1A of the 2005 Form 10-K.  There have been no material changes from the risk factors previously disclosed in such Form 10-K.

ITEM 2.   UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3.   DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

ITEM 5.   OTHER INFORMATION

None.

ITEM 6.   EXHIBITS

31.1	*	Certification of Randall D. Holmes, Chief Executive Officer of the Registrant, pursuant to Securities Exchange Act Rule 13a-14(a).
31.2	*	Certification of Jeffrey H. Strasberg, Chief Financial Officer of the Registrant, pursuant to Securities Exchange Act Rule 13a-14(a).
32	*	Certifications pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of The Sarbanes-Oxley Act of 2002, signed by Randall D. Holmes, Chief Executive Officer of the Registrant, and Jeffrey H. Strasberg, Chief Financial Officer of the Registrant.

_____________________

*           Filed herewith.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	RIDGEWOOD ELECTRIC POWER TRUST IV
Date:  November 27, 2007	By:	/s/  Randall D. Holmes
		Randall D. Holmes
		Chief Executive Officer
		(Principal Executive Officer)

Date:  November 27, 2007	By:	/s/  Jeffrey H. Strasberg
		Jeffrey H. Strasberg
		Executive Vice President and Chief Financial Officer
		(Principal Financial and Accounting Officer)

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