SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

(Mark One)


  X    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
------ SECURITIES EXCHANGE ACT OF 1934


                For the quarterly period ended December 31, 2000

                                       OR

____   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
       SECURITIES EXCHANGE ACT OF 1934

                         Commission File Number 0-24652


                          FREEDOM TAX CREDIT PLUS L.P.
             (Exact name of registrant as specified in its charter)


           Delaware                         13-3533987
---------------------------              -----------------
(State or other jurisdiction of          (I.R.S. Employer
incorporation or organization)           Identification No.)


625 Madison Avenue, New York, New York               10022
--------------------------------------          --------------
(Address of principal executive offices)        (Zip Code)


Registrant's telephone number, including area code (212) 421-5333


       Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes X No ____



<PAGE>


                                        4

<PAGE>

                         PART I - Financial Information
Item 1.  Financial Statements

                          FREEDOM TAX CREDIT PLUS L.P.
                          AND CONSOLIDATED PARTNERSHIPS
                           CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)


                                       December 31,   March 31,
                                          2000         2000
                                      ------------  ------------

ASSETS

Property and equipment - (at cost,
  net of accumulated depreciation
  of $48,110,753 and $44,409,197,
  respectively)                     $  95,503,319 $  98,567,972
Cash and cash equivalents               1,260,538     1,483,417
Investment in marketable securities       112,215       113,553
Cash held in escrow                     4,613,446     4,311,637
Deferred costs (net of accumulated
  amortization of $1,440,534
  and $1,316,082, respectively)         1,498,334     1,622,786
Other assets                            1,181,984     1,081,697
                                      -----------   -----------

Total Assets                         $104,169,836  $107,181,062
                                      ===========   ===========

LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)

Liabilities:
Mortgage notes payable              $  69,362,323 $  69,914,088
Accounts payable and other
  liabilities                           2,587,137     2,109,616
Due to local general partners and
  affiliates                            3,017,176     3,392,393
Due to general partners and
  affiliates (Note 2)                   4,778,447     4,106,667
                                    ------------- -------------

Total Liabilities                      79,745,083    79,522,764
                                     ------------  ------------

Minority interests                      7,842,032     7,988,544
                                    ------------- -------------

Partners' Capital (Deficit):
Limited partners (72,896 BACs
  issued and outstanding)              17,090,258    20,145,096
General partners                         (514,892)     (484,035)
Accumulated other comprehensive
  income:
Unrealized gain on marketable
  securities                                7,355         8,693
                                     ------------    ----------

Total Partners' Capital (Deficit)      16,582,721    19,669,754
                                     ------------    ----------

Total Liabilities and Partners'
  Capital (Deficit)                  $104,169,836  $107,181,062
                                      ===========   ===========

See accompanying notes to consolidated financial statements.



<PAGE>
<TABLE>

                          FREEDOM TAX CREDIT PLUS L.P.
                          AND CONSOLIDATED PARTNERSHIPS
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
<CAPTION>

                            Three Months Ended                Nine Months Ended
                              December 31,                      December 31,
                       -------------------------          ----------------------
                          2000             1999*          2000             1999*
                       -------------------------          ---------------------

<S>                   <C>                             <C>             <C>
Revenues
Rental income         $ 3,311,051$       3,239,497    $  9,933,374    $  9,661,625
Other                      405,911         376,437       1,103,631       1,054,108
                      ------------    ------------    ------------    ------------
Total revenues           3,716,962       3,615,934      11,037,005      10,715,733
                      ------------    ------------    ------------    ------------

Expenses
General and
  administrative           616,267         536,496       1,911,873       1,719,775
General and
  administrative-
  related parties
  Note 2)                  394,641         398,262       1,151,848       1,125,888
Operating and
  other                    349,376         308,947       1,042,952       1,019,134
Repairs and
  Maintenance              603,177         641,492       1,647,027       1,665,284
Real estate taxes          239,455         229,867         707,294         707,202
Insurance                  101,449          85,055         307,556         301,825
Financial                1,188,211       1,202,854       3,560,320       3,616,397
Depreciation and
  amortization           1,268,698       1,273,703       3,826,008       3,982,441
                      ------------    ------------    ------------    ------------
Total expenses           4,761,274       4,676,676      14,154,878      14,137,946
                      ------------    ------------    ------------    ------------

Loss before
  minority interest     (1,044,312)     (1,060,742)     (3,117,873)     (3,422,213)

Minority interest
  in loss of
  subsidiary
  partnerships              10,310          11,094          32,178          36,573
                      ------------    ------------    ------------    ------------

Net loss              $ (1,034,002)   $ (1,049,648)   $ (3,085,695)   $ (3,385,640)
                      ============    ============    ============    ============

Net loss - limited
  partners            $ (1,023,662)   $ (1,039,152)   $ (3,054,838)   $ (3,351,784)
                      ============    ============    ============    ============

Number of BACs
  outstanding               72,896          72,896          72,896          72,896
                      ============    ============    ============    ============

Basic net loss
  per BAC                   (14.05)   $     (14.25)   $     (41.91)   $     (45.98)
                      ============    ============    ============    ============

*Reclassified for comparative purposes.
See Accompanying Notes to Consolidated Financial Statements.

</TABLE>


<PAGE>


<TABLE>
                          FREEDOM TAX CREDIT PLUS L.P.
                          AND CONSOLIDATED PARTNERSHIPS
        CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)
                                   (Unaudited)
<CAPTION>
                                                                                             Accumulated
                                                                                                Other
                                                              Limited         General        Comprehensive   Comprehensive
                                                Total         Partners       Partners           Income            Loss
                                           --------------     --------        --------      ---------------   ------------

<S>                                         <C>             <C>             <C>             <C>
Partners' capital (deficit) April 1, 2000   $ 19,669,754    $ 20,145,096    $   (484,035)   $      8,693

Comprehensive Income (Loss):
Net loss - Nine  months ended
  December 31, 2000                           (3,085,695)     (3,054,838)        (30,857)                   $ (3,085,695)

Other Comprehensive  Income (Loss):
Net unrealized loss on marketable
  securities                                      (1,338)              0               0          (1,338)         (1,338)
                                            ------------    ------------    ------------    ------------    ------------

Total Comprehensive Income (Loss)                                                                           $ (3,087,033)
                                                                                                            ============
Partners' capital (deficit)
  December 31, 2000                         $ 16,582,721    $ 17,090,258    $   (514,892)   $      7,355
                                            ============    ============    ============    ============

See accompanying notes to consolidated financial statements.
</TABLE>


<PAGE>




                          FREEDOM TAX CREDIT PLUS L.P.
                          AND CONSOLIDATED PARTNERSHIPS
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)



                                                         Nine Months Ended
                                                            December 31,
                                                        2000           1999
                                                  -----------------------------

Cash flows from operating activities:

Net loss                                            $(3,085,695)   $(3,385,640)

Adjustments to reconcile net loss to
  net cash provided by operating activities:

Depreciation and amortization                         3,826,008      3,982,441
Minority interest in loss of
  subsidiaries                                          (32,178)       (36,573)
(Increase) decrease in other assets                    (100,287)       152,445
Increase in accounts payable
  and other liabilities                                 477,521        358,349
Increase in cash held
  in escrow                                            (301,809)      (346,762)
Increase in due to general partners
  and affiliates                                        671,780        630,356
Increase in due to local general
  partners and affiliates                                17,478         36,045
Decrease in due to local general
  partners and affiliates                              (392,695)      (376,360)
                                                    -----------    -----------

Net cash provided by
  operating activities                                1,080,123      1,014,301
                                                    -----------    -----------

Cash flows from investing activities:

Acquisition of property and
  equipment                                            (636,903)      (395,302)
Proceeds from sale of marketable
  securities                                                  0         39,964
                                                    -----------    -----------

Net cash used in investing
  activities                                           (636,903)      (355,338)
                                                    -----------    -----------

Cash flows from financing activities:

Repayments of mortgage notes                           (551,765)      (544,485)
Decrease in capitalization of
  consolidated subsidiaries
  attributable to minority interest                    (114,334)       (23,171)
                                                    -----------    -----------

Net cash used in financing
  activities                                           (666,099)      (567,656)
                                                    -----------    -----------

Net (decrease) increase in cash
  and cash equivalents                                 (222,879)        91,307

Cash and cash equivalents at
  beginning of period                                 1,483,417      1,143,642
                                                    -----------    -----------

Cash and cash equivalents at
  end of period                                     $ 1,260,538    $ 1,234,949
                                                    ===========    ===========

Supplemental disclosure of cash flow information:
Cash paid during period for interest                $ 3,395,173    $ 3,401,362
                                                    ===========    ===========

See accompanying notes to consolidated financial statements.



<PAGE>


                          FREEDOM TAX CREDIT PLUS L.P.
                          AND CONSOLIDATED PARTNERSHIPS
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                December 31, 2000
                                   (Unaudited)

Note 1 - General



                          FREEDOM TAX CREDIT PLUS L.P.
                          AND CONSOLIDATED PARTNERSHIPS
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                December 31, 2000
                                   (Unaudited)

The consolidated financial statements include the accounts of Freedom Tax Credit
Plus L.P. ("the  Partnership") and 42 subsidiary  partnerships  ("subsidiaries",
"subsidiary partnerships" or "Local Partnerships") in which the Partnership is a
limited partner.  Through the rights of the Partnership and/or an affiliate of a
General Partner,  which affiliate has a contractual  obligation to act on behalf
of the  Partnership,  to remove  the  general  partner of the  subsidiary  local
partnerships and to approve certain major operating and financial decisions, the
Partnership has a controlling financial interest in the subsidiary partnerships.

The Partnership's  fiscal quarter ends December 31. All subsidiaries have fiscal
quarters  ending   September  30  in  order  to  allow  adequate  time  for  the
subsidiaries  financial statements to be prepared and consolidated.  Accounts of
the subsidiaries have been adjusted for intercompany transactions from October 1
through December 31.

All   intercompany   accounts  and   transactions   have  been   eliminated   in
consolidation.

Increases  (decreases)  in  the  capitalization  of  consolidated   subsidiaries
attributable to minority  interest arise from cash  contributions  from and cash
distributions to the minority interest partners.

Losses attributable to minority interests aggregated  approximately  $10,000 and
$11,000 and $32,000 and $37,000 for the three and nine months ended December 31,
2000 and 1999, respectively.  The Partnership's investment in each subsidiary is
generally equal to the respective  subsidiary's  partners'  equity less minority
interest capital, if any.

The books and records of the  Partnership are maintained on the accrual basis of
accounting in accordance with accounting  principles  generally  accepted in the
United  States  of  America.  In the  opinion  of the  General  Partners  of the
Partnership,   the  accompanying  unaudited  financial  statements  contain  all
adjustments  (consisting  only of normal  recurring  adjustments)  necessary  to
present  fairly the  financial  position of the  Partnership  as of December 31,
2000, the results of operations for the three and nine months ended December 31,
2000 and 1999 and cash flows for the nine  months  ended  December  31, 2000 and
1999.  However,  the operating  results and cash flows for the nine months ended
December 31, 2000 may not be indicative of the results for the year.

Certain  information  and  note  disclosures   normally  included  in  financial
statements prepared in accordance with generally accepted accounting  principles
have been omitted or condensed.  These condensed financial  statements should be
read in conjunction with the financial  statements and notes thereto included in
the  Partnership's  Annual  Report on Form 10-K for the period  ended  March 31,
2000.

Note 2 - Related Party Transactions

The costs incurred to related parties for the three and nine months ended
December 31, 2000 and 1999 were as follows:

                        Three Months Ended          Nine Months Ended
                             December 31,              December 31,
                     ------------------------    -----------------------
                          2000         1999*         2000        1999*
                     ------------------------    -----------------------

Partnership manage-
  ment fees (a)       $  169,000   $  169,000    $ 507,000     $507,000
Expense reimburse-
  ment (b)                68,186       54,124      160,031      115,906
Local administra-
  tive fee (c)            13,000       12,000       39,000       35,000
                      ----------   ----------   ----------   ----------

Total general and
  administrative-
  General Partners       250,186      235,124      706,031      657,906
                      ----------   ----------   ----------   ----------
Property manage-
  ment fees
  incurred to
  affiliates of
  the subsidiary
  partnerships'
  general
  partners (d)           144,455      163,138      445,817      467,982
                      ----------   ----------   ----------   ----------
Total general and
  administrative-
  related parties     $  394,641   $  398,262   $1,151,848   $1,125,888
                      ==========   ==========   ==========   ==========

*Reclassified for comparative purposes.

(a) The General  Partners are entitled to receive a partnership  management fee,
after payment of all Partnership expenses,  which together with the annual local
administrative  fees  will not  exceed a maximum  of 0.5% per annum of  Invested
Assets (as defined in the Partnership Agreement),  for administering the affairs
of  the  Partnership.  Subject  to the  foregoing  limitation,  the  partnership
management  fee  will be  determined  by the  General  Partners  in  their  sole
discretion  based upon their  review of the  Partnership's  investments.  Unpaid
partnership  management fees for any year will be accrued  without  interest and
will be payable  from  working  capital  reserves or to the extent of  available
funds after the Partnership has made  distributions  to the Limited Partners and
BACs holders of sale or refinancing  proceeds  equal to their  original  capital
contributions  plus a 10% priority return thereon (to the extent not theretofore
paid out of Cash Flow). Partnership management fees owed to the General Partners
amounting to approximately  $4,011,000 and $3,504,000 were accrued and unpaid as
of  December  31,  2000 and March 31,  2000,  respectively.  Without the General
Partners'  continued  accrual without payment,  the Partnership will not be in a
position to meet its  obligations.  The General Partners have continued to allow
the accrual without payment of these amounts,  but are under no obligation to do
so. The  Partnership is dependent  upon the support of the General  Partners and
certain of their  affiliates in order to meet its obligations at the Partnership
level.  The General  Partners and these  affiliates have agreed to continue such
support for the next year.

(b) The  Partnership  reimburses the General  Partners and their  affiliates for
actual Partnership operating expenses incurred by the General Partners and their
affiliates on the  Partnership's  behalf.  The amount of reimbursement  from the
Partnership is limited by the provisions of the Partnership  Agreement.  Another
affiliate of the General Partners performs asset monitoring for the Partnership.
These   services   include  site  visits  and   evaluations  of  the  subsidiary
partnerships' performance.

(c) Freedom SLP L.P., a special limited  partner of the subsidiary  partnerships
is entitled to receive an annual  local  administrative  fee of up to $2,500 per
year from each subsidiary partnership.

(d) Property  management  fees incurred by subsidiary  partnerships  amounted to
$230,617  and  $234,660  and $706,483 and $683,266 for the three and nine months
ended  December  31, 2000 and 1999,  respectively.  Of these fees  $144,455  and
$163,138 and $445,817 and $467,982, respectively, were incurred to affiliates of
the  subsidiary  partnerships'  general  partners  for the three and nine months
ended December 31, 2000 and 1999, respectively.



<PAGE>


Item 2.  Management's Discussion and Analysis of Financial Condition and
         Results of Operations

Liquidity and Capital Resources
-------------------------------

The  Partnership's  sources of funds during the nine months  ended  December 31,
2000,  include  working  capital  reserves,  interest  earned on working capital
reserves and distributions  received from the Local Partnerships.  None of these
sources generated substantial amounts of funds.

A working  capital reserve of  approximately  $34,000 remains as of December 31,
2000.

During the nine  months  ended  December  31, 2000 and 1999,  the  distributions
received  from  the  Local   Partnerships   approximated   $9,000  and  $17,000,
respectively.  Cash  distributions  from Local  Partnerships are not expected to
reach a level  sufficient to permit cash  distributions  to BACs holders.  These
distributions  as  well  as the  working  capital  reserves  referred  to in the
preceding  paragraph and the continued  deferral by the General Partners of fees
owed to them will be used to meet the operating expenses of the Partnership.

Partnership   management  fees  owed  to  the  General  Partners   amounting  to
approximately  $4,011,000 and $3,504,000  were accrued and unpaid as of December
31,  2000 and  March 31,  2000,  respectively.  Without  the  General  Partners'
continued accrual without payments, the Partnership will not be in a position to
meet its  obligations.  The General Partners have continued to allow the accrual
without  payment of these  amounts,  but are under no  obligation  to do so. The
Partnership is dependent upon the support of the General Partners and certain of
its affiliates in order to meet its  obligations at the Partnership  level.  The
General  Partners and these  affiliates have agreed to continue such support for
the next year.

During the nine months ended  September 30, 2000,  cash and cash  equivalents of
the  Partnership and its forty-two  consolidated  Local  Partnerships  decreased
approximately $223,000 due to acquisitions of property and equipment ($637,000),
a decrease  in  capitalization  of  consolidated  subsidiaries  attributable  to
minority  interest  ($114,000) and repayments of mortgage notes ($552,000) which
exceeded cash  provided by operating  activities  ($1,080,000).  Included in the
adjustments  to reconcile the net loss to cash provided by operating  activities
is depreciation and amortization ($3,826,000).

Management is not aware of any trends or events,  commitments or  uncertainties,
which  have not  otherwise  been  disclosed,  that will or are  likely to impact
liquidity in a material way.  Management  believes the only impact would be from
laws  that  have not yet been  adopted.  The  portfolio  is  diversified  by the
location of the  properties  around the United States so that if one area of the
country is experiencing  downturns in the economy,  the remaining  properties in
the  portfolio  may not be  experiencing  downswings.  However,  the  geographic
diversification  of the portfolio may not protect against a general  downturn in
the national  economy.  The  Partnership  has fully invested the proceeds of its
offering in 42 local partnerships, all of which have their tax credits in place.
The tax  credits  are  attached to the project for a period of ten years and are
transferable  with the property during the remainder of such ten year period. If
the  General  Partners  determined  that a sale of property  is  warranted,  the
remaining tax credits would  transfer to the new owner,  thereby adding value to
the  property  on the  market.  The  financial  statements  do not  include  any
adjustment to the carrying  value of the  properties  that might result from the
market value of the tax credits.

Results of Operations
---------------------

The results of operations  for the three and nine months ended December 31, 2000
continue to be in the form of rental income with corresponding  expenses divided
among operations, depreciation and mortgage interest.

Rental income remained fairly  consistent with increases of approximately 2% and
3% for the three and nine  months  ended  December  31,  2000 as compared to the
corresponding periods in 1999, primarily due to rental rate increases.

Total expenses  excluding general and administrative and operating and other and
insurance remained fairly consistent with decreases of approximately 1% for both
the  three  and  nine  months  ended  December  31,  2000  as  compared  to  the
corresponding periods in 1999.

General and administrative  increased approximately $80,000 and $192,000 for the
three and nine months ended  December 31, 2000 as compared to the  corresponding
periods in 1999 primarily due to a change of an affiliated  management  agent to
an  unaffiliated  management  agent  in 2000 at two  Local  Partnerships  and an
increase in office expenses at four other Local Partnerships.

Operating and other increased  approximately  $40,000 for the three months ended
December 31, 2000 as compared to the corresponding  period in 1999 primarily due
to an increase in water and sewer charges at one Local Partnership.

Insurance  increased  approximately  $16,000 for the three months ended December
31, 2000 as compared to the  corresponding  period in 1999  primarily  due to an
overaccrual  of  insurance  expense in the  second  quarter of 1999 at one Local
Partnership which was corrected in the third quarter of 1999.

Accounting Standards Issued but not yet Adopted
-----------------------------------------------

In June 1998, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standards No. 133 ("SFAS 133") "Accounting for Derivative
Instruments and Hedging Activities." The Statement establishes accounting and
reporting standards for derivative instruments and hedging activities. This
Statement is effective for all fiscal quarters of fiscal years beginning after
June 15, 2000. The adoption of SFAS 133 is not expected to have any impact on
the financial position of operations of the Partnership.



Item 3.  Quantitative and Qualitative Disclosures about Market Risk.
         -----------------------------------------------------------

The Partnership is not exposed to market risk since its mortgage indebtedness
bears fixed rates of interest.


<PAGE>
                           PART II. OTHER INFORMATION

Item 1.    Legal Proceedings - None

Item 2.    Changes in Securities - None

Item 3.    Defaults Upon Senior Securities - None

Item 4.    Submission of Matters to a Vote of Security Holders - None

Item 5.    Other Information - None

Item 6.    Exhibits and Reports on Form 8-K

       (a) Exhibits:

           27   Financial Data Schedule (filed herewith).

       (b) Reports on Form 8-K

           No reports on Form 8-K were filed during the quarter.



<PAGE>



                                   SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.

                          FREEDOM TAX CREDIT PLUS L.P.
                                  (Registrant)

               By: RELATED FREEDOM ASSOCIATES L.P.,
                   a General Partner

               By: RELATED FREEDOM ASSOCIATES INC.,
                   General Partner

Date:

                   By:
                      ------------------------------------
                      Alan P. Hirmes, President
                      (Principal Executive and
                      Financial Officer)

Date:

                   By:
                      ------------------------------------
                      Glenn F. Hopps, Treasurer
                      (Principal Accounting Officer)

               and

               By: FREEDOM GP INC.,
                   a General Partner

Date:

                   By:
                      ------------------------------------
                      Alan P. Hirmes, President
                      (Principal Executive and
                      Financial Officer)

Date:

                   By:
                      ------------------------------------
                      Glenn F. Hopps, Treasurer
                      (Principal Accounting Officer)


<PAGE>


<PAGE>
                                   SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.

                          FREEDOM TAX CREDIT PLUS L.P.
                                  (Registrant)

               By: RELATED FREEDOM ASSOCIATES L.P.,
                   a General Partner

               By: RELATED FREEDOM ASSOCIATES INC.,
                   General Partner

Date:  January 23, 2001

                   By:/s/ Alan P. Hirmes
                      Alan P. Hirmes, President
                      (Principal Executive and
                      Financial Officer)

Date:  January 23, 2001

                   By:/s/ Glenn F. Hopps
                      Glenn F. Hopps, Treasurer
                      (Principal Accounting Officer)

               and

               By: FREEDOM GP INC.,
                   a General Partner

Date:  January 23, 2001

                   By:/s/ Alan P. Hirmes
                      Alan P. Hirmes, President
                      (Principal Executive and
                      Financial Officer)

Date:  January 23, 2001

                   By:/s/ Glenn F. Hopps
                      Glenn F. Hopps, Treasurer
                      (Principal Accounting Officer)