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	$     1,940,725	$     2,072,949
Rents receivable	53,657	64,987
Escrow deposits and reserves	1,194,380	1,135,647
Land	768,599	965,272
Buildings and improvements (net of accumulated depreciation of $13,529,112 and $15,952,715)	10,683,023	13,533,052
Intangible assets (net of accumulated amortization of $127,547 and $125,312)	116,438	141,138
Other assets	194,842	275,483
	$   14,951,664	$   18,188,528
LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
Liabilities
Accounts payable and accrued expenses	$         314,872	$         460,365
Due to related parties	1,182,001	1,469,345
Mortgage loans	10,061,371	13,468,459
Notes payable	100,000	250,000
Accrued interest	1,981,767	2,123,968
Other liabilities	99,549	179,156
	13,739,560	17,951,293
Partners' equity (deficit)
American Tax Credit Trust, Series I
Capital contributions, net of distributions	6,817,784	7,932,118
Cumulative loss	(3,837,189)	(4,627,486)
	2,980,595	3,304,632
General partners and other limited partners
Capital contributions, net of distributions	164,176	151,353
Cumulative loss	(1,932,667)	(3,218,750)
	(1,768,491)	(3,067,397)
	1,212,104	237,235
	$   14,951,664	$   18,188,528