5. Investment in Local Partnerships: Combined Balance Sheets of the Local Partnerships (Tables)

12 Months Ended

Mar. 30, 2016

Tables/Schedules

Combined Balance Sheets of the Local Partnerships

	2015	2014
ASSETS
Cash and cash equivalents	$       231,648	$       469,966
Rents receivable	25,548	56,452
Escrow deposits and reserves	576,857	991,099
Land	280,636	693,933
Buildings and improvements (net of accumulated depreciation of $9,256,386 and $13,760,023)	2,986,398	6,284,166
Intangible assets (net of accumulated amortization of $48,042 and $46,340)	9,603	11,305
Other assets	164,337	187,830
	$     4,275,027	$     8,694,751
LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
Liabilities
Accounts payable and accrued expenses	$       145,799	$       199,015
Due to related parties	741,518	1,004,918
Mortgage loans	7,128,710	12,632,226
Accrued interest	1,104,636	1,128,395
Other liabilities	91,314	145,862
	9,211,977	15,110,416
Partners' equity (deficit)
American Tax Credit Properties III L.P.
Capital contributions, net of distributions	3,546,235	4,852,168
Cumulative loss	(2,954,243)	(4,260,176)
	591,992	591,992
General partners and other limited partners
Capital contributions, net of distributions	11,858	(55,549)
Cumulative loss	(5,540,800)	(6,952,108)
	(5,528,942)	(7,007,657)
	(4,936,950)	(6,415,665)
	$     4,275,027	$     8,694,751