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

12 Months Ended

Mar. 30, 2013

Tables/Schedules

Combined Balance Sheets of the Local Partnerships

	2012	2011
ASSETS
Cash and cash equivalents	$760,971	$696,549
Rents receivable	93,456	74,710
Escrow deposits and reserves	1,916,418	2,065,245
Land	1,010,458	1,213,303
Buildings and improvements (net of accumulated depreciation of $18,325,748 and $18,795,401)	13,690,637	16,454,213
Intangible assets (net of accumulated amortization of $148,306 and $164,642)	171,471	223,567
Other assets	392,021	442,692
	$18,035,432	$21,170,279
LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
Liabilities
Accounts payable and accrued expenses	$596,708	$684,071
Due to related parties	2,541,398	2,646,659
Mortgage loans	16,555,508	18,758,639
Notes payable	100,000	100,000
Accrued interest	4,948,039	4,675,602
Other liabilities	126,959	140,303
	24,868,612	27,005,274
Partners' equity (deficit)
American Tax Credit Trust, Series I
Capital contributions, net of distributions	13,037,450	13,739,701
Cumulative loss	(9,139,800)	(9,744,520)
	3,897,650	3,995,181
General partners and other limited partners
Capital contributions, net of distributions	152,970	466,308
Cumulative loss	(10,883,800)	(10,296,484)
	(10,730,830)	(9,830,176)
	(6,833,180)	(5,834,995)
	$18,035,432	$21,170,279