<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> MAR-31-2000 <PERIOD-END> DEC-31-1999 <CASH> 297,587 <SECURITIES> 1,354,928 <RECEIVABLES> 000 <ALLOWANCES> 000 <INVENTORY> 000 <CURRENT-ASSETS> 000 <PP&E> 000 <DEPRECIATION> 000 <TOTAL-ASSETS> 23,181,631<F1> <CURRENT-LIABILITIES> 000 <BONDS> 000 <PREFERRED-MANDATORY> 000 <PREFERRED> 000 <COMMON> 000 <OTHER-SE> 22,741,074 <TOTAL-LIABILITY-AND-EQUITY> 23,181,631<F2> <SALES> 000 <TOTAL-REVENUES> 68,979<F3> <CGS> 000 <TOTAL-COSTS> 000 <OTHER-EXPENSES> 282,966<F4> <LOSS-PROVISION> 000 <INTEREST-EXPENSE> 000 <INCOME-PRETAX> 000 <INCOME-TAX> 000 <INCOME-CONTINUING> 000 <DISCONTINUED> 000 <EXTRAORDINARY> 000 <CHANGES> 000 <NET-INCOME> (1,729,725)<F5> <EPS-BASIC> (46.92) <EPS-DILUTED> 000 <FN> <F1>Total assets include Investments in Local Limited Partnerships of $21,515,686 and Other assets of $13,430. <F2>Total liability and equity includes Accounts payable to affiliates of $400,898 and Accrued expenses of $39,659 <F3>Total revenue includes Investment of $67,779 and Other of $1,200. <F4>Other Expenses include Asset Management fees, related party of $154,665, General and administrative of $105,844 and Amortization of $22,457. <F5>Net loss includes Equity in losses of Local Limited Partnerships of $1,515,738. </FN>