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

12 Months Ended

Mar. 30, 2015

Tables/Schedules

Combined Balance Sheets of the Local Partnerships

	2014	2013
ASSETS
Cash and cash equivalents	$     2,072,949	$         743,616
Rents receivable	64,987	99,462
Escrow deposits and reserves	1,135,647	2,185,014
Land	965,272	997,101
Buildings and improvements (net of accumulated depreciation of $15,952,715 and $18,330,320)	13,533,052	13,658,750
Intangible assets (net of accumulated amortization of $125,312 and $151,843)	141,138	158,857
Other assets	275,483	425,898
	$   18,188,528	$   18,268,698
LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
Liabilities
Accounts payable and accrued expenses	$         460,365	$         522,068
Due to related parties	1,469,345	2,005,580
Mortgage loans	13,468,459	14,361,626
Notes payable	250,000	250,000
Accrued interest	2,123,968	2,355,284
Other liabilities	179,156	114,406
	17,951,293	19,608,964
Partners' equity (deficit)
American Tax Credit Trust, Series I
Capital contributions, net of distributions	7,932,118	10,074,228
Cumulative loss	(4,627,486)	(6,531,192)
	3,304,632	3,543,036
General partners and other limited partners
Capital contributions, net of distributions	151,353	152,459
Cumulative loss	(3,218,750)	(5,035,761)
	(3,067,397)	(4,883,302)
	237,235	(1,340,266)
	$   18,188,528	$   18,268,698