Investments In and Advances to Partnerships (Tables)

3 Months Ended

Mar. 31, 2013

Equity Method Investements and Joint Ventures [Abstract]

Schedule of apartment complexes owned

A schedule of the apartment complexes owned by the Local Partnerships at March 31, 2013 in which the Partnership is invested is provided below:

PROPERTY	CITY	STATE	UNITS
Chestnut	Fresno	CA	90
New Sharon Woods	Deptford	NJ	50
Westwood Village	New Haven	CT	48

Summarized financial information, statement of operations

For the three months ended
March 31,
	2013									2012
	Equity Method			Suspended				Total		Equity Method			Suspended			Total
Number of Local Partnerships	2		(a)	1			(b)	3		3		(c)	3		(d)	6
Revenue:
Rental	$	401,819		$	165,558			$	567,377	$	921,244		$	323,352		$	1,244,596
Other	12,958			2,311				15,269		90,316			6,163			96,479
Total revenue	414,777			167,869				582,646		1,011,560			329,515			1,341,075
Expenses:
Operating	258,614			114,333				372,947		505,639			243,031			748,670
Interest	7,456			36,878				44,334		57,568			40,883			98,451
Depreciation and amortization	24,834			17,340				42,174		101,943			32,441			134,384
Total expenses	290,904			168,551				459,455		665,150			316,355			981,505
Net income (loss)	$	123,873		$	(682	)		$	123,191	$	346,410		$	13,160		$	359,570
Cash distributions	$	16,660		$	7,219			$	23,879	$	—		$	—		$	—
Cash distributions recorded as reduction
of investments in partnerships	$	16,660		$	—			$	16,660	$	—		$	—		$	—
Cash distribution recorded as income	$	—		$	7,219			$	7,219	$	—		$	—		$	—
Partnership’s share of Local Partnership net income	121,388			—				121,388		339,459			—			339,459
Share of income from partnerships	$	121,388		$	7,219			$	128,607	$339,459			$	—		$	339,459

(a)     Westwood Village, Chestnut

(b)    New Sharon Woods

(c)    Capital Commons, Chestnut, Westwood Village

(d)    Hillview Terrace, New Sharon Woods, Shallowford Oaks

Reconciliation of investments

The following is a reconciliation of investments in partnerships at March 31, 2013.

Investments in partnerships at December 31, 2012	$	1,597,027
Distributions	(23,879		)
Share of income from partnerships	128,607
Investments in partnerships at March 31, 2013	$	1,701,755