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

12 Months Ended

Mar. 30, 2017

Tables/Schedules

Combined Balance Sheets of the Local Partnerships

	2016	2015
ASSETS
Cash and cash equivalents	$ 179,344	$ 1,940,725
Rents receivable	28,960	53,657
Escrow deposits and reserves	1,296,653	1,194,380
Land	179,799	768,599
Buildings and improvements (net of accumulated depreciation of $7,820,447 and $13,529,112)	6,037,801	10,683,023
Intangible assets (net of accumulated amortization of $0 and $127,547)	--	116,438
Other assets	105,387	194,842
	$ 7,827,944	$ 14,951,664
LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
Liabilities
Accounts payable and accrued expenses	$ 39,284	$ 314,872
Due to related parties	861,622	1,182,001
Mortgage loans	6,136,502	10,061,371
Notes payable	100,000	100,000
Accrued interest	2,075,697	1,981,767
Other liabilities	53,034	99,549
	9,266,139	13,739,560
Partners' equity (deficit)
American Tax Credit Trust, Series I
Capital contributions, net of distributions	3,775,145	6,817,784
Cumulative loss	(3,273,345)	(3,837,189)
	501,800	2,980,595
General partners and other limited partners
Capital contributions, net of distributions	(5,897)	164,176
Cumulative loss	(1,934,098)	(1,932,667)
	(1,939,995)	(1,768,491)
	(1,438,195)	1,212,104
	$ 7,827,944	$ 14,951,664