February 14, 2001
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Boston Financial Qualified Housing Tax Credits L.P. IV
Report on Form 10-QSB for the Quarter Ended December 31, 2000
File Number 0-19765
Dear Sir/Madam:
Pursuant to the requirements of section 15(d) of the Securities Exchange Act of
1934, there is filed herewith a copy of subject report.
Very truly yours,
/s/Stephen Guilmette
Stephen Guilmette
Assistant Controller
QH4-Q3.DOC
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
(Mark One)
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended December 31, 2000
------------------------------------------
OR
[ ] 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 0-19765
Boston Financial Qualified Housing Tax Credits L.P. IV
- -------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Massachusetts 04-3044617
----------------------------- ---------------------------
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
101 Arch Street, Boston, Massachusetts 02110-1106
- ----------------------------------------------- ----------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (617) 439-3911
----------------------------
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 X No .
BOSTON FINANCIAL QUALIFIED HOUSING TAX CREDITS L.P. IV
(A Limited Partnership)
TABLE OF CONTENTS
PART I - FINANCIAL INFORMATION Page No.
- ------------------------------ --------
Item 1. Financial Statements
Balance Sheet - December 31, 2000 (Unaudited) 1
Statements of Operations (Unaudited) - For the Three and Nine
Months Ended December 31, 2000 and 1999 2
Statement of Changes in Partners' Equity (Deficiency)
(Unaudited) - For the Nine Months Ended December 31, 2000 3
Statements of Cash Flows (Unaudited) - For the
Nine Months Ended December 31, 2000 and 1999 4
Notes to the Financial Statements (Unaudited) 5
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations 7
PART II - OTHER INFORMATION
Items 1-6 11
SIGNATURE 12
BOSTON FINANCIAL QUALIFIED HOUSING TAX CREDITS L.P. IV
(A Limited Partnership)
BALANCE SHEET
December 31, 2000
(Unaudited)
Assets
Cash and cash equivalents $ 151,927
Marketable securities, at fair value 778,627
Investments in Local Limited Partnerships, net (Note 1) 16,497,880
Other assets 12,890
-------------
Total Assets $ 17,441,324
=============
Liabilities and Partners' Equity
Accounts payable to affiliate $ 589,935
Accounts payable and accrued expenses 81,225
-------------
Total Liabilities 671,160
-------------
General, Initial and Investor Limited Partners' Equity 16,765,365
Net unrealized gains on marketable securities 4,799
-------------
Total Partners' Equity 16,770,164
-------------
Total Liabilities and Partners' Equity $ 17,441,324
=============
The accompanying notes are an integral part of these financial statements.
BOSTON FINANCIAL QUALIFIED HOUSING TAX CREDITS L.P. IV
(A Limited Partnership)
STATEMENTS OF OPERATIONS
For the Three and Nine Months Ended December 31, 2000 and 1999
(Unaudited)
Three Months Ended Nine Months Ended
December 31, December 31,
December 31, 1999 December 31, 1999
2000 (Restated) 2000 (Restated)
------------- ------------- -------------- ------------
Revenue:
Investment $ 13,869 $ 13,414 $ 41,251 $ 39,996
Other 1,350 (33,971) 121,652 88,595
------------- ------------- -------------- --------------
Total Revenue 15,219 (20,557) 162,903 128,591
------------- ------------- -------------- --------------
Expenses:
Asset management fee, related party 45,776 46,669 137,328 136,273
General and administrative,
(includes reimbursements to an
affiliate in the amounts of
$163,714 and $80,468 in 2000
and 1999, respectively) 145,699 94,420 313,291 294,059
Provision for valuation of investments
in Local Limited Partnerships 73,583 208,112 132,012 423,457
Amortization 16,400 16,297 49,202 49,202
------------- ------------- -------------- --------------
Total Expenses 281,458 365,498 631,833 902,991
------------- ------------- -------------- --------------
Loss before equity in income (loss) of
Local Limited Partnerships and loss
on liquidation of interest in Local
Limited Partnership (266,239) (386,055) (468,930) (774,400)
Equity in income (loss) of Local
Limited Partnerships (Note 1) (115,435) 2,238,622 (186,554) 2,049,637
Loss on liquidation of interest in
Local Limited Partnership (Note 2) - - - (6,486)
------------- ------------- -------------- --------------
Net Income (Loss) $ (381,674) $ 1,852,567 $ (655,484) $ 1,268,751
============= ============= ============== ==============
Net Income (Loss) allocated:
To General Partners $ (3,817) $ 18,526 $ (6,555) $ 12,688
To Limited Partners (377,857) 1,834,041 (648,929) 1,256,063
------------- ------------- -------------- --------------
$ (381,674) $ 1,852,567 $ (655,484) $ 1,268,751
============= ============= ============== ==============
Net Income (Loss) per Limited
Partnership Unit (68,043 Units) $ (5.56) $ 26.95 $ (9.54) $ 18.46
============= ============= ============= ==============
The accompanying notes are an integral part of these financial statements.
BOSTON FINANCIAL QUALIFIED HOUSING TAX CREDITS L.P. IV
(A Limited Partnership)
STATEMENT OF CHANGES IN PARTNERS' EQUITY (Deficiency)
For the Nine Months Ended December 31, 2000
(Unaudited)
Net
Initial Investor Unrealized
General Limited Limited Gains
Partners Partner Partners (Losses) Total
Balance at March 31, 2000 $ (416,878) $ 5,000 $ 17,832,727 $ (3,991) $ 17,416,858
------------- ------------- ------------- ------------- -------------
Comprehensive Income (Loss):
Change in net unrealized losses
on marketable securities
available for sale - - - 8,790 8,790
Net Loss (6,555) - (648,929) - (655,484)
------------- ------------- ------------- ------------- -------------
Comprehensive Income (Loss) (6,555) - (648,929) 8,790 (646,694)
------------- ------------- ------------- ------------- -------------
Balance at December 31, 2000 $ (423,433) $ 5,000 $ 17,183,798 $ 4,799 $ 16,770,164
============= ============= ============= ============= =============
The accompanying notes are an integral part of these financial statements.
BOSTON FINANCIAL QUALIFIED HOUSING TAX CREDITS L.P. IV
(A Limited Partnership)
STATEMENTS OF CASH FLOWS
For the Nine Months Ended December 31, 2000 and 1999
(Unaudited)
1999
2000 (Restated)
------------- ------------
Net cash used for operating activities $ (102,583) $ (322,643)
Net cash provided by investing activities 167,323 207,284
------------- -------------
Net increase (decrease) in cash and cash equivalents 64,740 (115,359)
Cash and cash equivalents, beginning 87,187 243,072
------------- -------------
Cash and cash equivalents, ending $ 151,927 $ 127,713
============= =============
The accompanying notes are an integral part of these financial statements.
BOSTON FINANCIAL QUALIFIED HOUSING TAX CREDITS L.P. IV
(A Limited Partnership)
Notes to Financial Statements
(Unaudited)
The unaudited financial statements presented herein have been prepared in
accordance with the instructions to Form 10-QSB and do not include all of the
information and note disclosures required by generally accepted accounting
principles. These statements should be read in conjunction with the financial
statements and notes thereto included with the Partnership's Form 10-KSB for the
year ended March 31, 2000. In the opinion of management, these financial
statements include all adjustments, consisting only of normal recurring
adjustments, necessary to present fairly the Partnership's financial position
and results of operations. The results of operations for the periods may not be
indicative of the results to be expected for the year.
The Managing General Partner has elected to report results of the Local Limited
Partnerships on a 90 day lag basis, because the Local Limited Partnerships
report their results on a calendar year basis. Accordingly, the financial
information of the Local Limited Partnerships that is included in the
accompanying financial statements is as of September 30, 2000 and 1999.
1. Investments in Local Limited Partnerships
The Partnership uses the equity method to account for its limited partnership
interests in twenty-three Local Limited Partnerships which own and operate
multi-family housing complexes, most of which are government-assisted. The
Partnership, as Investor Limited Partner pursuant to the various Local Limited
Partnership Agreements, which contain certain operating and distribution
restrictions, has acquired a 99% interest in the profits, losses, tax credits
and cash flows from operations of each of the Local Limited Partnerships. Upon
dissolution, proceeds will be distributed according to each respective
partnership agreement.
The following is a summary of investments in Local Limited Partnerships at
December 31, 2000:
Capital contributions and advances paid to Local
Limited Partnerships and purchase price paid to
withdrawing partners of Local Limited Partnerships $ 47,037,952
Cumulative equity in losses of Local Limited
Partnerships (excluding cumulative unrecognized
losses of $8,877,798) (27,762,848)
Cumulative cash distributions received from Local
Limited Partnerships (2,881,580)
-------------
Investments in Local Limited Partnerships before
adjustment 16,393,524
Excess of investment cost over the underlying net assets acquired:
Acquisition fees and expenses 3,669,346
Accumulated amortization of acquisition fees
and expenses (966,282)
-------------
Investments in Local Limited Partnerships before reserve for valuation 19,096,588
Reserve for valuation of investments in Local
Limited Partnerships (2,598,708)
-------------
Investments in Local Limited Partnerships $ 16,497,880
=============
BOSTON FINANCIAL QUALIFIED HOUSING TAX CREDITS L.P. IV
(A Limited Partnership)
Notes to the Financial Statements (continued)
(Unaudited)
1. Investments in Local Limited Partnerships (continued)
----------------------------------------------------
The Partnership's share of the net losses of the Local Limited Partnerships for
the nine months ended December 31, 2000 is $1,580,368. For the nine months ended
December 31, 2000, the Partnership has not recognized $1,393,814 of equity in
losses relating to certain Local Limited Partnerships where cumulative equity in
losses and cumulative distributions exceeded its total investments in these
Local Limited Partnerships.
2. Liquidation of Interest in Local Limited Partnership
For financial reporting purposes, loss on liquidation of interest in Local
Limited Partnership of $6,486 was recognized in the nine months ended December
31, 1999 as a result of the transfer of Gateway Village.
3. Litigation
As previously reported, Bentley Court, located in Columbia, South Carolina,
continues to generate deficits. The IRS has taken the position to disallow all
of the tax credits for this project for 1993, 1994 and 1995. As a result of the
former Local General Partner's disputes with the IRS, tax returns have not yet
been filed for 1996, 1997, 1998 and 1999 for this local partnership. However, it
is anticipated that the IRS will take a comparable complete disallowance
position for those tax years, too. On behalf of the Partnership, the Managing
General Partner retained counsel to vigorously appeal and contest the findings
in the IRS report in order to minimize the loss of credits. The Local General
Partner for this property was indicted on various criminal charges. The Local
General Partner pled guilty to two of these counts. In the opinion of
Management, there is a substantial risk that Bentley Court and, consequently,
the Partnership will suffer substantial tax credit recapture and/or credit
disallowance as a result of the problems at this property. However, it is not
possible to quantify the risk until the appeal and litigation process with the
IRS is completed. Additionally, the Managing General Partner replaced the Local
General Partner with an affiliated entity and replaced the property management
company with an unaffiliated entity. The Managing General Partner will continue
to monitor property operations closely. As a result of the continuing tax issues
at this property, Management has decided to fully reserve the Partnership's
investment in Bentley Court.
On April 28, 2000, the Managing General Partner, on behalf of the Partnership,
filed suit against the former General Partners of Bentley Court alleging
mismanagement of the Local Limited Partnership.
The Partnership is not a party to any other pending legal or administrative
proceeding, and to the best of its knowledge, no legal or administrative
proceeding is threatened or contemplated against it.
BOSTON FINANCIAL QUALIFIED HOUSING TAX CREDITS L.P. IV
(A Limited Partnership)
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Certain matters discussed herein constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. The
Partnership intends such forward-looking statements to be covered by the safe
harbor provisions for forward-looking statements and is including this statement
for purposes of complying with these safe harbor provisions. Although the
Partnership believes the forward-looking statements are based on reasonable
assumptions, the Partnership can give no assurance that their expectations will
be attained. Actual results and timing of certain events could differ materially
from those projected in or contemplated by the forward-looking statements due to
a number of factors, including, without limitation, general economic and real
estate conditions and interest rates.
Liquidity and Capital Resources
At December 31, 2000 the Partnership had an increase in cash and cash
equivalents of $64,740 from $87,187 at March 31, 2000 to $151,927 at December
31, 2000. The increase is mainly attributable to cash provided by proceeds from
sales and maturities of marketable securities and cash distributions received
from Local Limited Partnerships. These increases are partially offset by cash
used for operating activities and cash used for purchases of marketable
securities.
The Managing General Partner initially designated 4% of the Gross Proceeds as
Reserves, as defined in the Partnership Agreement. The Reserves were established
to be used for working capital of the Partnership and contingencies related to
the ownership of Local Limited Partnership interests. Funds totaling
approximately $1,367,000 have been withdrawn from the Reserve account to pay
legal fees relating to various property issues. To date, Reserve funds in the
amount of approximately $304,000 have been used to make additional capital
contributions to a Local Limited Partnership. To date, the Partnership has used
approximately $943,000 of operating funds to replenish Reserves. At December 31,
2000, approximately $629,000 of cash, cash equivalents and marketable securities
has been designated as Reserves. Management believes that the investment income
earned on the Reserves, along with cash distributions received from Local
Limited Partnerships, to the extent available, will be sufficient to fund the
Partnership's ongoing operations. Reserves may be used to fund Partnership
operating deficits, if the Managing General Partner deems funding appropriate.
If Reserves are not adequate to cover the Partnership's operations, the
Partnership will seek other financing sources including, but not limited to, the
deferral of Asset Management Fees to an affiliate of the Managing General
Partner or working with Local Limited Partnerships to increase cash
distributions.
In the event a Local Limited Partnership encounters operating difficulties
requiring additional funds, the Partnership's management might deem it in its
best interests to voluntarily provide such funds in order to protect its
investment. In addition to the $1,367,000 noted above, the Partnership also
advanced approximately $1,364,000 to Local Limited Partnerships to fund
operating deficits.
Since the Partnership invests as a limited partner, the Partnership has no
contractual obligation to provide additional funds to Local Limited Partnerships
beyond its specified investment. Thus, at December 31, 2000, the Partnership had
no contractual or other obligation to any Local Limited Partnership which had
not been paid or provided for.
Cash Distributions
No cash distributions were made during the nine months ended December 31, 2000.
BOSTON FINANCIAL QUALIFIED HOUSING TAX CREDITS L.P. IV
(A Limited Partnership)
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)
Results of Operations
The Partnership's results of operations for the three and nine months ended
December 31, 2000 resulted in net losses of $381,674 and $655,484, respectively
as compared to net income of $1,852,567 and $1,268,751, respectively for the
same periods in 1999. The decreases in net income are primarily due to an
increase in equity in losses of Local Limited Partnerships and an increase in
general and administrative expenses. These expense increases are offset by a
decrease in provision for valuation of investments in Local Limited
Partnerships. Equity in losses of Local Limited Partnerships increased because
of a $2,482,000 gain on cancellation of indebtedness recorded in the prior year.
The provision for valuation of investments in Local Limited Partnerships was
incurred during the nine months ended December 31, 1999 due to the write-off of
advances to the Local Limited Partnerships. The increase in general and
administrative expense is primarily due to increased charges from an affiliate
of the General Partner for operational and administrative expenses necessary for
the operation of the Partnership. The increased charges pertained to higher
levels of staffing and salary levels at the affiliate in addition to changes in
the affiliate's allocation of operational and administrative expenses to more
accurately reflect the actual cost of services provided to the Partnership.
Property Discussions
As previously reported, Audobon Apartments (Boston, Massachusetts) and Brown
Kaplan (Dorchester, Massachusetts), operate below break-even. Both properties
receive a material amount of income subsidies through the State Housing
Assistance Rental Program (SHARP). As originally conceived, the SHARP subsidy
was scheduled to decline over time to match increases in net operating income.
However, increases in net operating income failed to keep pace with the decline
in the SHARP subsidy. Many of the SHARP properties (including Audobon Apartments
and Brown Kaplan) sought restructuring workouts with the lender, Massachusetts
Housing Finance Agency ("MHFA") that included additional subsidies in the form
of Operating Deficit Loans ("ODL's"). In July 1997, MHFA refused to close the
restructuring for Brown Kaplan. Effective October 1, 1997, MHFA, which provided
the SHARP subsidies, withdrew funding of the ODL's from its portfolio of 77
subsidized properties. Properties unable to make full debt service payments were
declared in default by MHFA. The Managing General Partner has joined a group of
SHARP property owners called the Responsible SHARP Owners, Inc. (RSO) to find a
solution to the problems that will result from the withdrawn subsidies. On
September 16, 1998, the Partnership joined with the RSO and about 20 other SHARP
property owners and filed suit against the MHFA (Mass. Sup. Court Civil Action
#98-4720). Among other things, the suit seeks to enforce the MHFA's previous
financial commitments to the SHARP properties. The lawsuit is complex and in its
early stages, so no predictions can be made at this time as to the ultimate
outcome. In the meantime, the Managing General Partner intends to continue to
participate in the RSO's efforts to negotiate a resolution of this matter with
MHFA.
As a result of the existing operating deficits, Audobon was foreclosed on March
30, 2000. The foreclosure resulted in recapture of credits of approximately
$30.60 per unit which will be on your 2000 Schedule K-1 that will be filed in
April of 2001. In addition, the foreclosure will result in the allocation of
taxable income to the Partnership and loss of future benefits associated with
this property.
Due to concerns regarding the long-term viability of Brown Kaplan, the Managing
General Partner negotiated a plan with the Local General Partner that will
ultimately transfer the Partnership's interest in the property to the Local
General Partner. The plan includes provisions to minimize the risk of recapture.
Effective November 30, 1999, the Managing General Partner consummated the
transfer of 49.5% of the Partnership's capital and profits in the property to
the Local General Partner. Effective December 5, 2000, the Managing General
Partner exercised its right to transfer the Partnership's remaining interest in
the property to the Local General Partner.
BOSTON FINANCIAL QUALIFIED HOUSING TAX CREDITS L.P. IV
(A Limited Partnership)
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)
Property Discussions (continued)
- -------------------------------
The Local General Partner of Buena Vista, (Buena Vista, Georgia) and Greentree
Village (Greenville, Georgia) expressed to the Managing General Partner some
concerns over the long-term financial health of the properties. In response to
these concerns and to reduce possible future risk, the Managing General Partner
reached agreement with the Local General Partner on a plan that will ultimately
transfer ownership of the properties to the Local General Partner. The plan
includes provisions to minimize the risk of recapture. The Managing General
Partner has yet to transfer any of the Partnership's interest in these
properties.
As previously reported, Bentley Court, located in Columbia, South Carolina,
continues to generate deficits. Further, an IRS audit of the 1993 tax return for
the project questioned the treatment of certain items and has findings of
non-compliance in 1993. The Managing General Partner understands that the audit
now also focuses on 1994 and 1995 tax credits. On behalf of the Partnership, the
Managing General Partner retained counsel to appeal the findings in the IRS
report in order to minimize the loss of credits. In June of 1998, the Managing
General Partner was informed that the Local General Partner for this property
was indicted on various criminal charges. The Local General Partner pled guilty
to two of these counts. In the opinion of Management, there is a substantial
risk that Bentley Court and, consequently, the Partnership will suffer
significant tax credit recapture and/or credit disallowance as a result of the
problems at this property. However, it is not possible to quantify the risk
until the IRS completes its audits. Additionally, the Managing General Partner
replaced the Local General Partner with an affiliated entity and replaced the
property management company with an unaffiliated entity. The Managing General
Partner will continue to monitor property operations closely. As a result of the
continuing tax issues at this property, Management has decided to fully reserve
the Partnership's investment in Bentley Court.
On April 28, 2000, the Managing General Partner, on behalf of the Partnership,
filed suit against the former General Partners of Bentley Court alleging
mismanagement of the local limited partnership.
On June 11, 2000, one of the buildings at Bentley Court caught on fire and was
determined to be a total loss. Three out of the 16 units in that building were
vacant, and the rest of the tenants were transferred to vacant units at the
property. The insurance company has agreed to pay the limit of the policy
coverage, however, estimates indicate that the insurance proceeds may not cover
the costs to rebuild. It is possible that the Local Limited Partnership will not
rebuild the building, which would decrease the property's future tax credits and
cause recapture of tax credits previously taken with respect to such building.
It also would likely cause a decrease in the property's cash flow. The Managing
General Partner is currently evaluating the Local Limited Partnership's options
with respect to the ruined building.
On January 1, 2001, Bentley Court suffered a fire in another building which
contained a total of 24 units. Preliminary indications are that the fire may
have resulted from children playing with fireworks and that most of the units
are a total loss. All but three of the tenants were relocated within the
property. Subsequent to the June 11, 2000 fire, the Managing General Partner
increased the insurance policy sub-limits on the property and is optimistic that
insurance proceeds will cover the cost to rebuild both buildings. The Managing
General Partner expects construction to commence by mid-March and that the units
will be ready for occupancy by the fall. In the interim, the vacancy of the two
buildings will cause the property to operate at a deficit.
BK Apartments (Jamestown, North Dakota) continues to operate at a deficit. As
previously reported, in November 1997, due to concerns about the property's long
term viability, the Managing General Partner consummated a transfer of 50% of
the Partnership's interest in capital and profits of BK Apartments Limited
Partnership to the Local General Partner. Additionally, the Managing General
Partner has the right to put the Partnership's remaining interest to the new
Local General Partner any time after one year elapsed. Subsequently, the Local
General Partner transferred its general partner interest and transferred 48.5%
of its interest in capital and profits of BK Apartments Limited Partnership to a
new, nonprofit general partner, effective June 17, 1999. As a result of this
change, the date
BOSTON FINANCIAL QUALIFIED HOUSING TAX CREDITS L.P. IV
(A Limited Partnership)
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)
Property Discussions (continued)
- -------------------------------
when the Managing General Partner has the right to transfer the remaining
interest to the new Local General Partner was amended to reflect the June 17,
1999 effective date. The Partnership will retain its full share of the
property's tax credits, which expire in 2001, until such time as the remaining
interest is put to the new Local General Partner.
In addition, the new Local General Partner has the right to call the remaining
interest after the tax credit period has expired.
As previously reported, 46 & Vincennes (Chicago, Illinois) continues to operate
below break-even due to occupancy problems. A new site manager with significant
experience in managing properties in similar inner city Chicago neighborhoods
was recently hired at the property. In addition, the neighborhood has seen
significant improvement in the last few years, with several buildings in the
area renovated for market rate use. Effective January 13, 2000, the Managing
General Partner and Local General Partner succeeded in gaining HUD's approval
for a refinancing, thereby reducing the interest rate and increasing the loan
maturity to a new 40-year term. The Managing General Partner continues to work
closely with the Local General Partner and will continue to closely monitor
property operations.
The Partnership has implemented policies and practices for assessing potential
impairment of its investments in Local Limited Partnerships. Real estate experts
analyze the investments to determine if impairment indicators exist. If so, the
carrying value is compared to the undiscounted future cash flows expected to be
derived from the asset. If a significant impairment in carrying value exists, a
provision to write down the asset to fair value will be recorded in the
Partnership's financial statements.
BOSTON FINANCIAL QUALIFIED HOUSING TAX CREDITS L.P. IV
(A Limited Partnership)
PART II OTHER INFORMATION
Items 1-5 Not applicable
Item 6 Exhibits and reports on Form 8-K
(a)Exhibits - None
(b)Reports on Form 8-K - No reports on Form 8-K were filed
during the quarter ended December 31, 2000.
BOSTON FINANCIAL QUALIFIED HOUSING TAX CREDITS L.P. IV
(A Limited Partnership)
SIGNATURE
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.
DATED: February 14, 2001 BOSTON FINANCIAL QUALIFIED HOUSING
TAX CREDITS L.P. IV
By: Arch Street IV, Inc.,
its Managing General Partner
/s/Jenny Netzer
---------------------------------
Jenny Netzer
Managing Director and President