Investments in and Advances to Partnerships (Tables)

9 Months Ended

Sep. 30, 2013

Equity Method Investments and Joint Ventures [Abstract]

Summarized financial information, Statement of Operations

	For the nine months ended September 30,
	2013									2012
	Equity Method				Suspended		Total			Equity Method			Suspended				Total
Number of Local Partnerships	1			(a)	—		1			2		(b)	2			(c)	4
Revenue:
Rental	$	507,408			$	—	$	507,408		$	1,014,163		$	615,020			$	1,629,183
Other	8,338				—		8,338			18,606			19,805				38,411
Gain on sale of property	2,900,927				—		2,900,927			—			—				—
Total revenue	3,416,673				—		3,416,673			1,032,769			634,825				1,667,594
Expenses:
Operating and other	328,022				—		328,022			647,581			326,612				974,193
Interest (income) expense	(57,251		)		—		(57,251		)	25,476			123,043				148,519
Depreciation and amortization	199,310				—		199,310			179,784			40,235				220,019
Total expenses	470,081				—		470,081			852,841			489,890				1,342,731
Net income	$	2,946,592			$	—	$	2,946,592		$	179,928		$	144,935			$	324,863
Cash distribution	$	—			$	—	—			$	11,211		$	—			$	11,211
Partnership’s share of Local Partnership net income	$	136,528			$	—	$	136,528		$	177,916		$	—			$	177,916
Advances to Local Partnerships	—				—		—			—			(10,000		)		(10,000		)
Share of income from partnerships	$	136,528			$	—	$	136,528		$	177,916		$	(10,000	)		$	167,916

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	For the three months ended
	September 30,
	2013									2012
	Equity Method				Suspended		Total			Equity Method			Suspended			Total
Number of Local Partnerships	1			(a)	—		1			2		(b)	2		(c)	4
Revenue:
Rental	$	102,298			$	—	$	102,298		$	314,808		$	120,718		$	435,526
Other	781				—		781			6,388			718			7,106
Gain on sale of property	2,900,927				—		2,900,927			—			—			—
Total revenue	3,004,006				—		3,004,006			321,196			121,436			442,632
Expenses:
Operating and other	62,353				—		62,353			199,191			66,885			266,076
Interest (income) expense	(19,083		)		—		(19,083		)	8,492			22,345			30,837
Depreciation and amortization	66,436				—		66,436			59,928			582			60,510
Total expenses	109,706				—		109,706			267,611			89,812			357,423
Net income	$	2,894,300			$	—	$	2,894,300		$	53,585		$	31,624		$	85,209
Cash distribution	$	—			$	—	$	—		$	11,211		$	—		$	11,211
Partnership’s share of Local Partnership net income	$	126,492			$	—	$	126,492		$	50,610		$	—		$	50,610
Share of income from partnerships	$	126,492			$	—	$	126,492		$50,610			$	—		$	50,610

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(a) Meadow Lanes (operations through date of sale)

(b) Meadow Lanes; Villa Mirage I

(c) Monterey/Hillcrest (operations through date of sale); Villa Mirage II

Reconciliation of investments in partnerships

The following reconciliation of investments in partnership at September 30, 2013:

Investments in and receivable from partnership at December 31, 2012:	$	2,582,473
Share of income from partnership	136,528
Investments in and receivable from partnership at September 30, 2013:	$	2,719,001