<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> MAR-31-2000 <PERIOD-END> SEP-30-2000 <CASH> 151,708 <SECURITIES> 1,613,068 <RECEIVABLES> 000 <ALLOWANCES> 000 <INVENTORY> 000 <CURRENT-ASSETS> 000 <PP&E> 000 <DEPRECIATION> 000 <TOTAL-ASSETS> 21,857,273<F1> <CURRENT-LIABILITIES> 000 <BONDS> 000 <PREFERRED-MANDATORY> 000 <PREFERRED> 000 <COMMON> 000 <OTHER-SE> 21,183,046 <TOTAL-LIABILITY-AND-EQUITY> 21,857,273<F2> <SALES> 000 <TOTAL-REVENUES> 50,410<F3> <CGS> 000 <TOTAL-COSTS> 000 <OTHER-EXPENSES> 201,981<F4> <LOSS-PROVISION> 000 <INTEREST-EXPENSE> 000 <INCOME-PRETAX> 000 <INCOME-TAX> 000 <INCOME-CONTINUING> 000 <DISCONTINUED> 000 <EXTRAORDINARY> 000 <CHANGES> 000 <NET-INCOME> (1,103,552)<F5> <EPS-BASIC> (29.93) <EPS-DILUTED> 000 <FN> <F1>Included in Total Assets: Investments in Local Limited Partnerships, net of $20,062,441 and Other assets of $30,056 <F2>Included in Total Liability and Equity: Accounts payable to affiliate of $639,121 and Accrued expenses of $35,106 <F3>Inclued in Total Revenue: Investment of $49,430 and Other of $980 <F4>Included in Other expenses: Asset management fees, related party of $105,358, General and administrative of $81,652 and Amortization of $14,972 <F5>Included in Net Loss: Equity in losses of Local Limited Partnerships of $951,980 </FN>