<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> MAR-31-2001 <PERIOD-END> SEP-30-2000 <CASH> 88,163 <SECURITIES> 854,086 <RECEIVABLES> 000 <ALLOWANCES> 000 <INVENTORY> 000 <CURRENT-ASSETS> 000 <PP&E> 000 <DEPRECIATION> 000 <TOTAL-ASSETS> 17,673,290<F1> <CURRENT-LIABILITIES> 000 <BONDS> 000 <COMMON> 000 <PREFERRED-MANDATORY> 000 <PREFERRED> 000 <OTHER-SE> 17,147,265 <TOTAL-LIABILITY-AND-EQUITY> 17,673,290<F2> <SALES> 000 <TOTAL-REVENUES> 147,684<F3> <CGS> 000 <TOTAL-COSTS> 000 <OTHER-EXPENSES> 350,375<F4> <LOSS-PROVISION> 000 <INTEREST-EXPENSE> 000 <INCOME-PRETAX> 000 <INCOME-TAX> 000 <INCOME-CONTINUING> 000 <DISCONTINUED> 000 <EXTRAORDINARY> 000 <CHANGES> 000 <NET-INCOME> (273,810)<F5> <EPS-BASIC> (3.98) <EPS-DILUTED> 000 <FN> <F1>Included in Total Assets: Investments in Local Limited Partnerships of $16,721,090 and Other assets of $9,951 <F2>Included in Total Liabilities and Equity: Accounts payable to affiliates of $457,365 and Accounts payable and accrued expenses of $68,660 <F3> Included in Total Revenue: Investment of $27,382 and Other of $120,302 <F4>Included in Other Expenses: Asset management fees of $91,552, General and administrative of $167,592, Provision for valuation of investments in Local Limited Partnerships of $58,429 and Amortization of $32,802 <F5>Included in Net Loss: Equity in losses of Local Limited Partnerships of $71,119 </FN>