<ARTICLE>                  5
       
                                                  
<PERIOD-TYPE>                                        3-MOS
<FISCAL-YEAR-END>                                    MAR-31-1997
<PERIOD-END>                                         JUN-30-1996
<CASH>                                               349,786
<SECURITIES>                                         2,926,259
<RECEIVABLES>                                        000
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     24,657<F1>
<PP&E>                                               000
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       37,109,936<F2>
<CURRENT-LIABILITIES>                                126,428<F3>
<BONDS>                                              000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<COMMON>                                             000
<OTHER-SE>                                           36,804,190
<TOTAL-LIABILITY-AND-EQUITY>                         37,109,936<F4>
<SALES>                                              000
<TOTAL-REVENUES>                                     57,220<F5>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     134,095<F6>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   000
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         (1,108,316)<F7>
<EPS-PRIMARY>                                        (15.92)
<EPS-DILUTED>                                        000
<FN>
<F1>Included in current assets: Prepaid insurance $8,705 and Interest receivable $15,952
<F2>Included in total assets: Investments in Local Limited Partnerships $33,809,234
<F3>Included  in current  liabilities:  Accounts  payable to  affiliates  $76,421 and accounts  payable and accrued
expenses $50,007.
<F4>Included in Total Liabilities and Equity: Deferred revenue $179,318
<F5>Total revenue includes: Investment $48,394, Other $8,826
<F6>Included in Other Expenses:  General and Administrative  $69,180,  Asset management fees $57,286,  Amortization
$7,629.
<F7>Net loss includes:  Equity in losses of Local Limited Partnerships of $1,031,441
</FN>