<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> MAR-31-2001 <PERIOD-END> DEC-31-2000 <CASH> 151,927 <SECURITIES> 778,627 <RECEIVABLES> 000 <ALLOWANCES> 000 <INVENTORY> 000 <CURRENT-ASSETS> 000 <PP&E> 000 <DEPRECIATION> 000 <TOTAL-ASSETS> 17,441,324<F1> <CURRENT-LIABILITIES> 000 <BONDS> 000 <COMMON> 000 <PREFERRED-MANDATORY> 000 <PREFERRED> 000 <OTHER-SE> 16,770,164 <TOTAL-LIABILITY-AND-EQUITY> 17,441,324<F2> <SALES> 000 <TOTAL-REVENUES> 162,903<F3> <CGS> 000 <TOTAL-COSTS> 000 <OTHER-EXPENSES> 631,833<F4> <LOSS-PROVISION> 000 <INTEREST-EXPENSE> 000 <INCOME-PRETAX> 000 <INCOME-TAX> 000 <INCOME-CONTINUING> 000 <DISCONTINUED> 000 <EXTRAORDINARY> 000 <CHANGES> 000 <NET-INCOME> (655,484)<F5> <EPS-BASIC> (9.54) <EPS-DILUTED> 000 <FN> <F1>Included in Total Assets: Investments in Local Limited Partnerships of $16,497,880 and Other assets of $12,890 <F2>Included in Total Liabilities and Equity: Accounts payable to affiliate of $589,935 and Accounts payable and accrued expenses of $81,225 <F3> Included in Total Revenue: Investment of $41,251 and Other of $121,652 <F4>Included in Other Expenses: Asset management fees of $137,328, General and administrative of $313,291, Provision for valuation of investments in Local Limited Partnerships of $132,012 and Amortization of $49,202 <F5>Included in Net Loss: Equity in loss of Local Limited Partnerships of $186,554 </FN>