<ARTICLE>                  5
       
                                                  
<PERIOD-TYPE>                                        3-MOS
<FISCAL-YEAR-END>                                    MAR-31-1997
<PERIOD-END>                                         JUN-30-1996
<CASH>                                               102,025
<SECURITIES>                                         2,073,119
<RECEIVABLES>                                        000
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     20,804
<PP&E>                                               000
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       31,008,515<F1>
<CURRENT-LIABILITIES>                                126,552
<BONDS>                                              000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<COMMON>                                             000
<OTHER-SE>                                           30,881,963
<TOTAL-LIABILITY-AND-EQUITY>                         31,008,515
<SALES>                                              000
<TOTAL-REVENUES>                                     18,620<F2>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     128,149<F3>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   000
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         (283,739)<F4>
<EPS-PRIMARY>                                        (7.60)
<EPS-DILUTED>                                        000
<FN>
<F1>Included  in total assets:  Investments in Local Limited  Partnerships  $28,301,699,  Restricted cash $484,201,
Organizational costs, net $26,667
<F2>Total revenue includes: Investment $1,886 and Other $16,734.
<F3>Included  in  Other  Expenses:   Asset  Management  fees  $48,071,  General  and  Administrative  $70,091,  and
Amortization $9,987.
<F4>Net loss includes:  Equity in losses of Local Limited Partnerships of $174,210.
</FN>