<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> MAR-31-2001 <PERIOD-END> DEC-31-2000 <CASH> 135,748 <SECURITIES> 2,666,578 <RECEIVABLES> 000 <ALLOWANCES> 000 <INVENTORY> 000 <CURRENT-ASSETS> 000 <PP&E> 000 <DEPRECIATION> 000 <TOTAL-ASSETS> 20,001,598<F1> <CURRENT-LIABILITIES> 000 <BONDS> 000 <COMMON> 000 <PREFERRED-MANDATORY> 000 <PREFERRED> 000 <OTHER-SE> 19,777,373 <TOTAL-LIABILITY-AND-EQUITY> 20,001,598<F2> <SALES> 000 <TOTAL-REVENUES> 286,667<F3> <CGS> 000 <TOTAL-COSTS> 000 <OTHER-EXPENSES> 464,245<F4> <LOSS-PROVISION> 000 <INTEREST-EXPENSE> 000 <INCOME-PRETAX> 000 <INCOME-TAX> 000 <INCOME-CONTINUING> 000 <DISCONTINUED> 000 <EXTRAORDINARY> 000 <CHANGES> 000 <NET-INCOME> (1,679,146)<F5> <EPS-BASIC> (24.12) <EPS-DILUTED> 000 <FN> <F1>Included in Total Assets: Investments in Local Limited Partnerships, net of $17,019,151, Restricted cash of $137,257 and Other assets of $42,864 <F2>Included in Total Liabilities and Equity: Accounts payable to affiliates of $33,313, Accounts payable and accrued expenses of $53,655 and Deferred revenue of $137,257 <F3>Included in Total Revenue: Investment of $132,157 and Other of $154,510 <F4>Included in Other Expenses: General and administrative of $258,032, Asset management fees of $188,516 and Amortization of $17,697 <F5>Included in Net Loss: Equity in losses of Local Limited Partnerships of $1,501,568 </FN>