----

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

|   | [  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|---------------------------------------------------------------------------------------------------------|

| Florida                                                        |   | 65-0142704                                                            |
|----------------------------------------------------------------|--------|-----------------------------------------------------------------------|
| (State or other jurisdiction of incorporation or organization) |   | (IRS Employer No.)                                                    |
|                                                           |   |                                                                  |
| 880 Carillon Parkway                                           |   | St. Petersburg,   Florida    33716 |
| (Address of principal executive offices)                       |   | (Zip Code)                                                            |

| Registrant’s Telephone Number, Including Area Code: |   | (727) 567-1000 |
|-----------------------------------------------------------|--------|----------------|

| YES  [X] | NO  [  ] |
|--------------------|------------------------------|

| YES  [X] | NO  [  ] |
|--------------------|------------------------------|

| Large accelerated filer [  ] | Accelerated filer [  ] |
|----------------------------------------|----------------------------------|
| Non-accelerated filer [  ]   | Smaller Reporting Company [X]    |

| Yes [  ] | No [X] |
|--------------------|--------|

----

----

|                                                                                    | SERIES 2                                                                                                                             |   | SERIES 3                                                                                                      |   | SERIES 4                                                                                                                  |
|-----------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------|
|                                                                                    | December 31,                                                                                                                         |   | March 31,                                                                                                     |   | December 31,                                                                                                              |   | March 31, |   | December 31, |   | March 31, |
|                                                                                    | 2010                                                                                                                                 |   | 2010                                                                                                          |   | 2010                                                                                                                      |   | 2010 |   | 2010 |   | 2010 |
| ASSETS                                                                                  |                                                                                                                                 |   |                                                                                                          |   |                                                                                                                      |   |   |   |   |   |   |
| Current Assets:                                                                         |                                                                                                                                 |   |                                                                                                          |   |                                                                                                                      |   |   |   |   |   |   |
|   Cash and Cash Equivalents                                                   |  $               620,096                        |   |  $            451,096                        |   |  $               923,521                  |   |  $            112,146  |   |  $               455,649  |   |  $            175,323  |
|   Receivable - Other                                                          | -                                                                                                                               |   | -                                                                                                        |   | -                                                                                                                    |   | -  |   | -  |   | -  |
|                                                                                    |                                                                                                                                 |   |                                                                                                          |   |                                                                                                                      |   |   |   |   |   |   |
|     Total Current Assets                                            | 620,096                                                                                                                         |   | 451,096                                                                                                  |   | 923,521                                                                                                              |   | 112,146  |   | 455,649  |   | 175,323  |
|                                                                                    |                                                                                                                                 |   |                                                                                                          |   |                                                                                                                      |   |   |   |   |   |   |
|         Total Assets                            |  $               620,096                        |   |  $            451,096                        |   |  $               923,521                  |   |  $            112,146  |   |  $               455,649  |   |  $            175,323  |
|                                                                                    |                                                                                                                                 |   |                                                                                                          |   |                                                                                                                      |   |   |   |   |   |   |
| LIABILITIES AND PARTNERS' DEFICIT                                                       |                                                                                                                                 |   |                                                                                                          |   |                                                                                                                      |   |   |   |   |   |   |
| Current Liabilities:                                                                    |                                                                                                                                 |   |                                                                                                          |   |                                                                                                                      |   |   |   |   |   |   |
|   Payable to General Partners                                                 |  $                   5,488  |   |  $                7,689  |   |  $                 21,759  |   |  $              17,558  |   |  $                   2,501  |   |  $                7,778  |
|   Distribution Payable                                                        | 540,430                                                                                                                         |   | 347,753                                                                                                  |   | 836,864                                                                                                              |   | 3,249  |   | 309,828  |   | 3,492  |
|   Deferred Gain on Sale of Project Partnerships                               | -                                                                                                                               |   | -                                                                                                        |   | -                                                                                                                    |   | -  |   | -  |   | -  |
|                                                                                    |                                                                                                                                 |   |                                                                                                          |   |                                                                                                                      |   |   |   |   |   |   |
|     Total Current Liabilities                                       | 545,918                                                                                                                         |   | 355,442                                                                                                  |   | 858,623                                                                                                              |   | 20,807  |   | 312,329  |   | 11,270  |
|                                                                                    |                                                                                                                                 |   |                                                                                                          |   |                                                                                                                      |   |   |   |   |   |   |
| Long-Term Liabilities:                                                                  |                                                                                                                                 |   |                                                                                                          |   |                                                                                                                      |   |   |   |   |   |   |
|   Payable to General Partners                                                 | 874,619                                                                                                                         |   | 855,054                                                                                                  |   | 737,016                                                                                                              |   | 714,133  |   | 900,935  |   | 886,846  |
|                                                                                    |                                                                                                                                 |   |                                                                                                          |   |                                                                                                                      |   |   |   |   |   |   |
| Partners' Equity (Deficit):                                                             |                                                                                                                                 |   |                                                                                                          |   |                                                                                                                      |   |   |   |   |   |   |
|   Limited Partner Assignees - 40,000 BAC's                                    |                                                                                                                                 |   |                                                                                                          |   |                                                                                                                      |   |   |   |   |   |   |
|      authorized of which 6,136, 5,456, and 6,915               |                                                                                                                                 |   |                                                                                                          |   |                                                                                                                      |   |   |   |   |   |   |
|      for Series 2, 3, and 4, respectively, have been           |                                                                                                                                 |   |                                                                                                          |   |                                                                                                                      |   |   |   |   |   |   |
|      issued at December 31, 2010 and March 31, 2010       | (944,951)                                                                                                                            |   | (902,393)                                                                                                     |   | (680,444)                                                                                                                 |   | (622,304) |   | (765,088) |   | (727,551) |
|   General Partners                                                            | 144,510                                                                                                                         |   | 142,993                                                                                                  |   | 8,326                                                                                                                |   | (490) |   | 7,473  |   | 4,758  |
|                                                                                    |                                                                                                                                 |   |                                                                                                          |   |                                                                                                                      |   |   |   |   |   |   |
|     Total Partners' Deficit                                         | (800,441)                                                                                                                            |   | (759,400)                                                                                                     |   | (672,118)                                                                                                                 |   | (622,794) |   | (757,615) |   | (722,793) |
|                                                                                    |                                                                                                                                 |   |                                                                                                          |   |                                                                                                                      |   |   |   |   |   |   |
|         Total Liabilities and Partners' Deficit |  $               620,096                        |   |  $            451,096                        |   |  $               923,521             |   |  $            112,146  |   |  $               455,649  |   |  $            175,323  |

----

|                                                                                    | SERIES 5                                                                                                                             |   | SERIES 6                                                                                           |   | TOTAL SERIES 2 - 6                                                                                                                   |
|-----------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                    | December 31,                                                                                                                         |   | March 31,                                                                                          |   | December 31,                                                                                                                         |   | March 31, |   | December 31, |   | March 31, |
|                                                                                    | 2010                                                                                                                                 |   | 2010                                                                                               |   | 2010                                                                                                                                 |   | 2010 |   | 2010 |   | 2010 |
| ASSETS                                                                                  |                                                                                                                                 |   |                                                                                               |   |                                                                                                                                 |   |   |   |   |   |   |
| Current Assets:                                                                         |                                                                                                                                 |   |                                                                                               |   |                                                                                                                                 |   |   |   |   |   |   |
|   Cash and Cash Equivalents                                                   |  $            1,249,980                                        |   |  $            479,047             |   |  $               563,997                             |   |  $            229,672  |   |  $            3,813,243  |   |  $         1,447,284  |
|   Receivable - Other                                                          | -                                                                                                                               |   | 152,032                                                                                       |   | -                                                                                                                               |   | -  |   | -  |   | 152,032  |
|                                                                                    |                                                                                                                                 |   |                                                                                               |   |                                                                                                                                 |   |   |   |   |   |   |
|     Total Current Assets                                            | 1,249,980                                                                                                                       |   | 631,079                                                                                       |   | 563,997                                                                                                                         |   | 229,672  |   | 3,813,243  |   | 1,599,316  |
|                                                                                    |                                                                                                                                 |   |                                                                                               |   |                                                                                                                                 |   |   |   |   |   |   |
|         Total Assets                            |  $            1,249,980                                             |   |  $            631,079             |   |  $               563,997                             |   |  $            229,672  |   |  $            3,813,243  |   |  $         1,599,316  |
|                                                                                    |                                                                                                                                 |   |                                                                                               |   |                                                                                                                                 |   |   |   |   |   |   |
| LIABILITIES AND PARTNERS' DEFICIT                                                       |                                                                                                                                 |   |                                                                                               |   |                                                                                                                                 |   |   |   |   |   |   |
| Current Liabilities:                                                                    |                                                                                                                                 |   |                                                                                               |   |                                                                                                                                 |   |   |   |   |   |   |
|   Payable to General Partners                                                 |  $                   9,428  |   |  $              53,803  |   |  $                   5,532  |   |  $              31,445  |   |  $                 44,708  |   |  $            118,273  |
|   Distribution Payable                                                        | 1,218,084                                                                                                                       |   | 403,226                                                                                       |   | 410,569                                                                                                                         |   | 1,455  |   | 3,315,775  |   | 759,175  |
|   Deferred Gain on Sale of Project Partnerships                               | -                                                                                                                               |   | 151,377                                                                                       |   | -                                                                                                                               |   | -  |   | -  |   | 151,377  |
|                                                                                    |                                                                                                                                 |   |                                                                                               |   |                                                                                                                                 |   |   |   |   |   |   |
|     Total Current Liabilities                                       | 1,227,512                                                                                                                       |   | 608,406                                                                                       |   | 416,101                                                                                                                         |   | 32,900  |   | 3,360,483  |   | 1,028,825  |
|                                                                                    |                                                                                                                                 |   |                                                                                               |   |                                                                                                                                 |   |   |   |   |   |   |
| Long-Term Liabilities:                                                                  |                                                                                                                                 |   |                                                                                               |   |                                                                                                                                 |   |   |   |   |   |   |
|   Payable to General Partners                                                 | 943,673                                                                                                                         |   | 906,074                                                                                       |   | 1,331,237                                                                                                                       |   | 1,273,112  |   | 4,787,480  |   | 4,635,219  |
|                                                                                    |                                                                                                                                 |   |                                                                                               |   |                                                                                                                                 |   |   |   |   |   |   |
| Partners' Equity (Deficit):                                                             |                                                                                                                                 |   |                                                                                               |   |                                                                                                                                 |   |   |   |   |   |   |
|   Limited Partner Assignees - 40,000 BAC's                                    |                                                                                                                                 |   |                                                                                               |   |                                                                                                                                 |   |   |   |   |   |   |
|      authorized of which 8,616 and 10,105 for                  |                                                                                                                                 |   |                                                                                               |   |                                                                                                                                 |   |   |   |   |   |   |
|      Series 5 and 6, respectively, have been                   |                                                                                                                                 |   |                                                                                               |   |                                                                                                                                 |   |   |   |   |   |   |
|      issued at December 31, 2010 and March 31, 2010       | (932,960)                                                                                                                            |   | (887,385)                                                                                          |   | (1,187,422)                                                                                                                          |   | (1,076,356) |   | (4,510,865) |   | (4,215,989) |
|   General Partners                                                            | 11,755                                                                                                                          |   | 3,984                                                                                         |   | 4,081                                                                                                                           |   | 16  |   | 176,145  |   | 151,261  |
|                                                                                    |                                                                                                                                 |   |                                                                                               |   |                                                                                                                                 |   |   |   |   |   |   |
|     Total Partners' Deficit                                         | (921,205)                                                                                                                            |   | (883,401)                                                                                          |   | (1,183,341)                                                                                                                          |   | (1,076,340) |   | (4,334,720) |   | (4,064,728) |
|                                                                                    |                                                                                                                                 |   |                                                                                               |   |                                                                                                                                 |   |   |   |   |   |   |
|         Total Liabilities and Partners' Deficit |  $            1,249,980                                        |   |  $            631,079        |   |  $               563,997                             |   |  $            229,672  |   |  $            3,813,243  |   |  $         1,599,316  |

----

|                                               | SERIES 2                                                                                                           |   | SERIES 3                                                                                                           |   | SERIES 4                                                                                                           |
|----------------------------------------------------|--------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------|
|                                               | 2010                                                                                                               |   | 2009                                                                                                               |   | 2010                                                                                                               |   | 2009 |   | 2010 |   | 2009 |
| Revenues:                                          |                                                                                                               |   |                                                                                                               |   |                                                                                                               |   |   |   |   |   |   |
|   Distribution Income                    |  $                1,569  |   |  $                3,442  |   |  $                2,800  |   |  $                2,552  |   |  $                1,561  |   |  $                   268  |
|     Total Revenues             | 1,569                                                                                                         |   | 3,442                                                                                                         |   | 2,800                                                                                                         |   | 2,552  |   | 1,561  |   | 268  |
|                                               |                                                                                                               |   |                                                                                                               |   |                                                                                                               |   |   |   |   |   |   |
| Expenses:                                          |                                                                                                               |   |                                                                                                               |   |                                                                                                               |   |   |   |   |   |   |
|   Asset Management Fee - General Partner | 4,483                                                                                                         |   | 10,769                                                                                                        |   | 4,163                                                                                                         |   | 9,433  |   | 3,320  |   | 6,008  |
|   General and Administrative:            |                                                                                                               |   |                                                                                                               |   |                                                                                                               |   |   |   |   |   |   |
|     General Partner            | -                                                                                                             |   | 10,343                                                                                                        |   | -                                                                                                             |   | 10,903  |   | -  |   | 6,542  |
|     Other                      | 289                                                                                                           |   | (295)                                                                                                              |   | 1,243                                                                                                         |   | 3,168  |   | 2,524  |   | 3,329  |
|                                               |                                                                                                               |   |                                                                                                               |   |                                                                                                               |   |   |   |   |   |   |
|     Total Expenses             | 4,772                                                                                                         |   | 20,817                                                                                                        |   | 5,406                                                                                                         |   | 23,504  |   | 5,844  |   | 15,879  |
|                                               |                                                                                                               |   |                                                                                                               |   |                                                                                                               |   |   |   |   |   |   |
| Loss Before Gain on Sale of Project Partnerships   |                                                                                                               |   |                                                                                                               |   |                                                                                                               |   |   |   |   |   |   |
|   and Other Income                       | (3,203)                                                                                                            |   | (17,375)                                                                                                           |   | (2,606)                                                                                                            |   | (20,952) |   | (4,283) |   | (15,611) |
| Gain on Sale of Project Partnerships               | 105,978                                                                                                       |   | 315,065                                                                                                       |   | 813,740                                                                                                       |   | -  |   | 306,336  |   | 2,000  |
| Interest Income                                    | 19                                                                                                            |   | 4                                                                                                             |   | 29                                                                                                            |   | 3  |   | 16  |   | 5  |
|                                               |                                                                                                               |   |                                                                                                               |   |                                                                                                               |   |   |   |   |   |   |
| Net Income (Loss)                                  |  $            102,794                             |   |  $             297,694                  |   |  $            811,163                             |   |  $            (20,949) |   |  $            302,069  |   |  $            (13,606) |
|                                               |                                                                                                               |   |                                                                                                               |   |                                                                                                               |   |   |   |   |   |   |
| Allocation of Net Income (Loss):                   |                                                                                                               |   |                                                                                                               |   |                                                                                                               |   |   |   |   |   |   |
|   Assignees                              |  $            101,765                             |   |  $            294,717                             |   |  $            803,026                             |   |  $            (20,740) |   |  $            299,048  |   |  $            (13,470) |
|   General Partners                       | 1,029                                                                                                         |   | 2,977                                                                                                         |   | 8,137                                                                                                         |   | (209) |   | 3,021  |   | (136) |
|                                               |                                                                                                               |   |                                                                                                               |   |                                                                                                               |   |   |   |   |   |   |
|                                               |  $            102,794                             |   |  $            297,694                             |   |  $            811,163                             |   |  $            (20,949) |   |  $            302,069  |   |  $            (13,606) |
| Net Income (Loss) Per Beneficial                   |                                                                                                               |   |                                                                                                               |   |                                                                                                               |   |   |   |   |   |   |
|   Assignee Certificate                   |  $                16.58       |   |  $                48.03       |   |  $              147.18                  |   |  $                (3.80) |   |  $                43.25  |   |  $                (1.95) |
| Number of Beneficial Assignee                      |                                                                                                               |   |                                                                                                               |   |                                                                                                               |   |   |   |   |   |   |
|   Certificates Outstanding               | 6,136                                                                                                         |   | 6,136                                                                                                         |   | 5,456                                                                                                         |   | 5,456  |   | 6,915  |   | 6,915  |

----

|                                               | SERIES 5                                                                                                      |   | SERIES 6                                                                                                      |   | TOTAL SERIES 2 - 6                                                                                                 |
|----------------------------------------------------|---------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------|
|                                               | 2010                                                                                                          |   | 2009                                                                                                          |   | 2010                                                                                                               |   | 2009 |   | 2010 |   | 2009 |
| Revenues:                                          |                                                                                                          |   |                                                                                                          |   |                                                                                                               |   |   |   |   |   |   |
|   Distribution Income                    |  $                5,119  |   |  $                7,339  |   |  $                4,527  |   |  $                6,313  |   |  $              15,576  |   |  $              19,914  |
|     Total Revenues             | 5,119                                                                                                    |   | 7,339                                                                                                    |   | 4,527                                                                                                         |   | 6,313  |   | 15,576  |   | 19,914  |
|                                               |                                                                                                          |   |                                                                                                          |   |                                                                                                               |   |   |   |   |   |   |
| Expenses:                                          |                                                                                                          |   |                                                                                                          |   |                                                                                                               |   |   |   |   |   |   |
|   Asset Management Fee - General Partner | 9,976                                                                                                    |   | 19,204                                                                                                   |   | 17,662                                                                                                        |   | 20,349  |   | 39,604  |   | 65,763  |
|   General and Administrative:            |                                                                                                          |   |                                                                                                          |   |                                                                                                               |   |   |   |   |   |   |
|     General Partner            | -                                                                                                        |   | 18,372                                                                                                   |   | -                                                                                                             |   | 21,079  |   | -  |   | 67,239  |
|     Other                      | (839)                                                                                                         |   | 2,535                                                                                                    |   | 1,605                                                                                                         |   | 4,118  |   | 4,822  |   | 12,855  |
|                                               |                                                                                                          |   |                                                                                                          |   |                                                                                                               |   |   |   |   |   |   |
|     Total Expenses             | 9,137                                                                                                    |   | 40,111                                                                                                   |   | 19,267                                                                                                        |   | 45,546  |   | 44,426  |   | 145,857  |
|                                               |                                                                                                          |   |                                                                                                          |   |                                                                                                               |   |   |   |   |   |   |
| Loss Before Equity in Loss of Project Partnerships |                                                                                                          |   |                                                                                                          |   |                                                                                                               |   |   |   |   |   |   |
|   and Other Income                       | (4,018)                                                                                                       |   | (32,772)                                                                                                      |   | (14,740)                                                                                                           |   | (39,233) |   | (28,850) |   | (125,943) |
| Gain on Sale of Project Partnerships               | 533,895                                                                                                  |   | 144,815                                                                                                  |   | 236,864                                                                                                       |   | -  |   | 1,996,813  |   | 461,880  |
| Interest Income                                    | 33                                                                                                       |   | 2                                                                                                        |   | 13                                                                                                            |   | 7  |   | 110  |   | 21  |
|                                               |                                                                                                          |   |                                                                                                          |   |                                                                                                               |   |   |   |   |   |   |
| Net Income (Loss)                                  |  $            529,910                   |   |  $            112,045                   |   |  $            222,137                        |   |  $            (39,226) |   |  $         1,968,073  |   |  $            335,958  |
|                                               |                                                                                                          |   |                                                                                                          |   |                                                                                                               |   |   |   |   |   |   |
| Allocation of Net Income (Loss):                   |                                                                                                          |   |                                                                                                          |   |                                                                                                               |   |   |   |   |   |   |
|   Assignees                              |  $            524,611                        |   |  $            110,132                        |   |  $            219,769                             |   |  $            (38,834) |   |  $         1,948,219  |   |  $            331,805  |
|   General Partners                       | 5,299                                                                                                    |   | 1,913                                                                                                    |   | 2,368                                                                                                         |   | (392) |   | 19,854  |   | 4,153  |
|                                               |                                                                                                          |   |                                                                                                          |   |                                                                                                               |   |   |   |   |   |   |
|                                               |  $            529,910                        |   |  $            112,045                        |   |  $            222,137                             |   |  $            (39,226) |   | $        1 ,968,073  |   |  $            335,958  |
| Net Income (Loss) Per Beneficial                   |                                                                                                          |   |                                                                                                          |   |                                                                                                               |   |   |   |   |   |   |
|   Assignee Certificate                   |  $                60.89  |   |  $                12.78  |   |  $                21.75       |   |  $                (3.84) |   |   |   |   |
| Number of Beneficial Assignee                      |                                                                                                          |   |                                                                                                          |   |                                                                                                               |   |   |   |   |   |   |
|   Certificates Outstanding               | 8,616                                                                                                    |   | 8,616                                                                                                    |   | 10,105                                                                                                        |   | 10,105  |   |   |   |   |

----

|                                               | SERIES 2                                                                                                      |   | SERIES 3                                                                                                      |   | SERIES 4                                                                                                      |
|----------------------------------------------------|---------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------|
|                                               | 2010                                                                                                          |   | 2009                                                                                                          |   | 2010                                                                                                          |   | 2009 |   | 2010 |   | 2009 |
| Revenues:                                          |                                                                                                          |   |                                                                                                          |   |                                                                                                          |   |   |   |   |   |   |
|   Distribution Income                    |  $                7,051  |   |  $              11,088             |   |  $                2,800  |   |  $              16,045  |   |  $                6,047  |   |  $                6,925  |
|     Total Revenues             | 7,051                                                                                                    |   | 11,088                                                                                                   |   | 2,800                                                                                                    |   | 16,045  |   | 6,047  |   | 6,925  |
|                                               |                                                                                                          |   |                                                                                                          |   |                                                                                                          |   |   |   |   |   |   |
| Expenses:                                          |                                                                                                          |   |                                                                                                          |   |                                                                                                          |   |   |   |   |   |   |
|   Asset Management Fee - General Partner | 19,564                                                                                                   |   | 33,761                                                                                                   |   | 22,884                                                                                                   |   | 28,299  |   | 14,089  |   | 18,023  |
|   General and Administrative:            |                                                                                                          |   |                                                                                                          |   |                                                                                                          |   |   |   |   |   |   |
|     General Partner            | 17,692                                                                                                   |   | 33,700                                                                                                   |   | 23,522                                                                                                   |   | 31,655  |   | 14,667  |   | 20,377  |
|     Other                      | 10,883                                                                                                   |   | 7,603                                                                                                    |   | 5,754                                                                                                    |   | 14,974  |   | 12,139  |   | 16,824  |
|                                               |                                                                                                          |   |                                                                                                          |   |                                                                                                          |   |   |   |   |   |   |
|     Total Expenses             | 48,139                                                                                                   |   | 75,064                                                                                                   |   | 52,160                                                                                                   |   | 74,928  |   | 40,895  |   | 55,224  |
|                                               |                                                                                                          |   |                                                                                                          |   |                                                                                                          |   |   |   |   |   |   |
| Loss Before Gain on Sale of Project Partnerships   |                                                                                                          |   |                                                                                                          |   |                                                                                                          |   |   |   |   |   |   |
|   and Other Income                       | (41,088)                                                                                                      |   | (63,976)                                                                                                      |   | (49,360)                                                                                                      |   | (58,883) |   | (34,848) |   | (48,299) |
| Gain on Sale of Project Partnerships               | 192,677                                                                                                  |   | 331,632                                                                                                  |   | 833,615                                                                                                  |   | -  |   | 306,336  |   | 2,000  |
| Interest Income                                    | 47                                                                                                       |   | 12                                                                                                       |   | 36                                                                                                       |   | 11  |   | 26  |   | 19  |
|                                               |                                                                                                          |   |                                                                                                          |   |                                                                                                          |   |   |   |   |   |   |
| Net Income (Loss)                                  |  $            151,636                        |   |  $            267,668                        |   |  $            784,291                        |   |  $            (58,872) |   |  $            271,514  |   |  $            (46,280) |
|                                               |                                                                                                          |   |                                                                                                          |   |                                                                                                          |   |   |   |   |   |   |
| Allocation of Net Income (Loss):                   |                                                                                                          |   |                                                                                                          |   |                                                                                                          |   |   |   |   |   |   |
|   Assignees                              |  $            150,119                        |   |  $            264,991                        |   |  $            775,475                        |   |  $            (58,283) |   |  $            268,799  |   |  $            (45,817) |
|   General Partners                       | 1,517                                                                                                    |   | 2,677                                                                                                    |   | 8,816                                                                                                    |   | (589) |   | 2,715  |   | (463) |
|                                               |                                                                                                          |   |                                                                                                          |   |                                                                                                          |   |   |   |   |   |   |
|                                               |  $            151,636                        |   |  $            267,668                        |   |  $            784,291                        |   |  $            (58,872) |   |  $            271,514  |   |  $            (46,280) |
| Net Income (Loss) Per Beneficial                   |                                                                                                          |   |                                                                                                          |   |                                                                                                          |   |   |   |   |   |   |
|   Assignee Certificate                   |  $                24.47  |   |  $                43.19  |   |  $              142.13             |   |  $              (10.68) |   |  $                38.87  |   |  $                (6.63) |
| Number of Beneficial Assignee                      |                                                                                                          |   |                                                                                                          |   |                                                                                                          |   |   |   |   |   |   |
|   Certificates Outstanding               | 6,136                                                                                                    |   | 6,136                                                                                                    |   | 5,456                                                                                                    |   | 5,456  |   | 6,915  |   | 6,915  |

----

|                                               | SERIES 5                                                                                                           |   | SERIES 6                                                                                                                 |   | TOTAL SERIES 2 - 6                                                                                            |
|----------------------------------------------------|--------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------|
|                                               | 2010                                                                                                               |   | 2009                                                                                                                     |   | 2010                                                                                                          |   | 2009 |   | 2010 |   | 2009 |
| Revenues:                                          |                                                                                                               |   |                                                                                                                     |   |                                                                                                          |   |   |   |   |   |   |
|   Distribution Income                    |  $              13,017             |   |  $              21,968                   |   |  $              17,436             |   |  $              23,039  |   |  $              46,351  |   |  $              79,065  |
|     Total Revenues             | 13,017                                                                                                        |   | 21,968                                                                                                              |   | 17,436                                                                                                   |   | 23,039  |   | 46,351  |   | 79,065  |
|                                               |                                                                                                               |   |                                                                                                                     |   |                                                                                                          |   |   |   |   |   |   |
| Expenses:                                          |                                                                                                               |   |                                                                                                                     |   |                                                                                                          |   |   |   |   |   |   |
|   Asset Management Fee - General Partner | 37,598                                                                                                        |   | 57,612                                                                                                              |   | 58,126                                                                                                   |   | 61,049  |   | 152,261  |   | 198,744  |
|   General and Administrative:            |                                                                                                               |   |                                                                                                                     |   |                                                                                                          |   |   |   |   |   |   |
|     General Partner            | -                                                                                                             |   | 57,110                                                                                                              |   | 48,672                                                                                                   |   | 61,200  |   | 104,553  |   | 204,042  |
|     Other                      | 13,296                                                                                                        |   | 19,320                                                                                                              |   | 17,667                                                                                                   |   | 21,454  |   | 59,739  |   | 80,175  |
|                                               |                                                                                                               |   |                                                                                                                     |   |                                                                                                          |   |   |   |   |   |   |
|     Total Expenses             | 50,894                                                                                                        |   | 134,042                                                                                                             |   | 124,465                                                                                                  |   | 143,703  |   | 316,553  |   | 482,961  |
|                                               |                                                                                                               |   |                                                                                                                     |   |                                                                                                          |   |   |   |   |   |   |
| Loss Before Gain on Sale of Project Partnerships   |                                                                                                               |   |                                                                                                                     |   |                                                                                                          |   |   |   |   |   |   |
|   and Other Income                       | (37,877)                                                                                                           |   | (112,074)                                                                                                                |   | (107,029)                                                                                                     |   | (120,664) |   | (270,202) |   | (403,896) |
| Gain on Sale of Project Partnerships               | 814,858                                                                                                       |   | 144,815                                                                                                             |   | 409,114                                                                                                  |   | -  |   | 2,556,600  |   | 478,447  |
| Interest Income                                    | 73                                                                                                            |   | 7                                                                                                                   |   | 28                                                                                                       |   | 24  |   | 210  |   | 73  |
|                                               |                                                                                                               |   |                                                                                                                     |   |                                                                                                          |   |   |   |   |   |   |
| Net Income (Loss)                                  |  $            777,054                             |   |  $              32,748                        |   |  $            302,113                   |   |  $          (120,640) |   |  $         2,286,608  |   |  $              74,624  |
|                                               |                                                                                                               |   |                                                                                                                     |   |                                                                                                          |   |   |   |   |   |   |
| Allocation of Net Income (Loss):                   |                                                                                                               |   |                                                                                                                     |   |                                                                                                          |   |   |   |   |   |   |
|   Assignees                              |  $            769,283                             |   |  $              31,628                        |   |  $            298,048                        |   |  $          (119,434) |   |  $         2,261,724  |   |  $              73,085  |
|   General Partners                       | 7,771                                                                                                         |   | 1,120                                                                                                               |   | 4,065                                                                                                    |   | (1,206) |   | 24,884  |   | 1,539  |
|                                               |                                                                                                               |   |                                                                                                                     |   |                                                                                                          |   |   |   |   |   |   |
|                                               |  $            777,054                             |   |  $              32,748                        |   |  $            302,113                        |   |  $          (120,640) |   |  $         2,286,608  |   |  $              74,624  |
| Net Income (Loss) Per Beneficial                   |                                                                                                               |   |                                                                                                                     |   |                                                                                                          |   |   |   |   |   |   |
|   Assignee Certificate                   |  $                89.29  |   |  $                  3.67  |   |  $                29.50  |   |  $              (11.82) |   |   |   |   |
| Number of Beneficial Assignee                      |                                                                                                               |   |                                                                                                                     |   |                                                                                                          |   |   |   |   |   |   |
|   Certificates Outstanding               | 8,616                                                                                                         |   | 8,616                                                                                                               |   | 10,105                                                                                                   |   | 10,105  |   |   |   |   |

----

|                         | SERIES 2                                                                                                         |   | SERIES 3                                                                                                                    |
|------------------------------|------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------|
|                         |                                                                                                             |   | General                                                                                                                     |   |   |   |   |   | General |   |   |
|                         | Assignees                                                                                                        |   | Partners                                                                                                                    |   | Total |   | Assignees |   | Partners |   | Total |
|                         |                                                                                                             |   |                                                                                                                        |   |   |   |   |   |   |   |   |
| Balance at March 31, 2009    |  $                (817,096)      |   |  $                  140,505  |   |  $             (676,591) |   |  $                (539,371) |   |  $                         348  |   |  $             (539,023) |
|                         |                                                                                                             |   |                                                                                                                        |   |   |   |   |   |   |   |   |
| Net Income (Loss)            | 264,991                                                                                                     |   | 2,677                                                                                                                  |   | 267,668  |   | (58,283) |   | (589) |   | (58,872) |
|                         |                                                                                                             |   |                                                                                                                        |   |   |   |   |   |   |   |   |
| Distributions                | (331,632)                                                                                                        |   | -                                                                                                                      |   | (331,632) |   | -  |   | -  |   | -  |
|                         |                                                                                                             |   |                                                                                                                        |   |   |   |   |   |   |   |   |
| Balance at December 31, 2009 |  $                (883,737)      |   |  $                  143,182  |   |  $             (740,555) |   |  $                (597,654) |   |  $                       (241) |   |  $             (597,895) |
|                         |                                                                                                             |   |                                                                                                                        |   |   |   |   |   |   |   |   |
|                         |                                                                                                             |   |                                                                                                                        |   |   |   |   |   |   |   |   |
| Balance at March 31, 2010    |  $                (902,393) |   |  $                  142,993  |   |  $             (759,400) |   |  $                (622,304) |   |  $                       (490) |   |  $             (622,794) |
|                         |                                                                                                             |   |                                                                                                                        |   |   |   |   |   |   |   |   |
| Net Income (Loss)            | 150,119                                                                                                     |   | 1,517                                                                                                                  |   | 151,636  |   | 775,475  |   | 8,816  |   | 784,291  |
|                         |                                                                                                             |   |                                                                                                                        |   |   |   |   |   |   |   |   |
| Distributions                | (192,677)                                                                                                        |   | -                                                                                                                      |   | (192,677) |   | (833,615) |   | -  |   |      (833,615) |
|                         |                                                                                                             |   |                                                                                                                        |   |   |   |   |   |   |   |   |
| Balance at December 31, 2010 |  $                (944,951)      |   |  $                  144,510  |   |  $             (800,441) |   |  $                (680,444) |   |  $                      8,326  |   |  $             (672,118) |

----

|                         | SERIES 4                                                                                                         |   | SERIES 5                                                                                                                                               |
|------------------------------|------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------|
|                         |                                                                                                             |   | General                                                                                                                                                |   |   |   |   |   | General |   |   |
|                         | Assignees                                                                                                        |   | Partners                                                                                                                                               |   | Total |   | Assignees |   | Partners |   | Total |
|                         |                                                                                                             |   |                                                                                                                                                   |   |   |   |   |   |   |   |   |
| Balance at March 31, 2009    |  $                (663,078) |   |  $                      5,389            |   |  $             (657,689) |   |  $                (742,574) |   |  $                         320  |   |  $             (742,254) |
|                         |                                                                                                             |   |                                                                                                                                                   |   |   |   |   |   |   |   |   |
| Net Income (Loss)            | (45,817)                                                                                                         |   | (463)                                                                                                                                                  |   | (46,280) |   | 31,628  |   | 1,120  |   | 32,748  |
|                         |                                                                                                             |   |                                                                                                                                                   |   |   |   |   |   |   |   |   |
| Distributions                | (2,000)                                                                                                          |   | -                                                                                                                                                 |   | (2,000) |   | (144,815) |   | -  |   | (144,815) |
|                         |                                                                                                             |   |                                                                                                                                                   |   |   |   |   |   |   |   |   |
| Balance at December 31, 2009 |  $                (710,895)      |   |  $                      4,926  |   |  $             (705,969) |   |  $                (855,761) |   |  $                      1,440  |   |  $             (854,321) |
|                         |                                                                                                             |   |                                                                                                                                                   |   |   |   |   |   |   |   |   |
|                         |                                                                                                             |   |                                                                                                                                                   |   |   |   |   |   |   |   |   |
| Balance at March 31, 2010    |  $                (727,551) |   |  $                      4,758       |   |  $             (722,793) |   |  $                (887,385) |   |  $                      3,984  |   |  $             (883,401) |
|                         |                                                                                                             |   |                                                                                                                                                   |   |   |   |   |   |   |   |   |
| Net Income (Loss)            | 268,799                                                                                                     |   | 2,715                                                                                                                                             |   | 271,514  |   | 769,283  |   | 7,771  |   | 777,054  |
|                         |                                                                                                             |   |                                                                                                                                                   |   |   |   |   |   |   |   |   |
| Distributions                | (306,336)                                                                                                        |   | -                                                                                                                                                 |   | (306,336) |   | (814,858) |   | -  |   | (814,858) |
|                         |                                                                                                             |   |                                                                                                                                                   |   |   |   |   |   |   |   |   |
| Balance at December 31, 2010 |  $                (765,088) |   |  $                      7,473       |   |  $             (757,615) |   |  $                (932,960) |   |  $                    11,755  |   |  $             (921,205) |

----

|                         | SERIES 6                                                                                                         |   | TOTAL SERIES 2 - 6                                                                                                                                                                |
|------------------------------|------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                         |                                                                                                             |   | General                                                                                                                                                                           |   |   |   |   |   | General |   |   |
|                         | Assignees                                                                                                        |   | Partners                                                                                                                                                                          |   | Total |   | Assignees |   | Partners |   | Total |
|                         |                                                                                                             |   |                                                                                                                                                                              |   |   |   |   |   |   |   |   |
| Balance at March 31, 2009    |  $                (912,084) |   |  $                      1,223                                  |   |  $             (910,861) |   |  $             (3,674,203) |   |  $                   147,785  |   |  $          (3,526,418) |
|                         |                                                                                                             |   |                                                                                                                                                                              |   |   |   |   |   |   |   |   |
| Net Income (Loss)            | (119,434)                                                                                                        |   | (1,206)                                                                                                                                                                           |   | (120,640) |   | 73,085  |   | 1,539  |   | 74,624  |
|                         |                                                                                                             |   |                                                                                                                                                                              |   |   |   |   |   |   |   |   |
| Distributions                | -                                                                                                           |   | -                                                                                                                                                                            |   | -  |   | (478,447) |   | -  |   | (478,447) |
|                         |                                                                                                             |   |                                                                                                                                                                         |   |   |   |   |   |   |   |   |
| Balance at December 31, 2009 |  $             (1,031,518)                      |   |  $                           17  |   |  $          (1,031,501) |   |  $             (4,079,565) |   |  $                   149,324  |   |  $          (3,930,241) |
|                         |                                                                                                             |   |                                                                                                                                                                              |   |   |   |   |   |   |   |   |
|                         |                                                                                                             |   |                                                                                                                                                                              |   |   |   |   |   |   |   |   |
| Balance at March 31, 2010    |  $             (1,076,356)                      |   |  $                           16       |   |  $          (1,076,340) |   |  $             (4,215,989) |   |  $                   151,261  |   |  $          (4,064,728) |
|                         |                                                                                                             |   |                                                                                                                                                                              |   |   |   |   |   |   |   |   |
| Net Income (Loss)            | 298,048                                                                                                     |   | 4,065                                                                                                                                                                        |   | 302,113  |   | 2,261,724  |   | 24,884  |   | 2,286,608  |
|                         |                                                                                                             |   |                                                                                                                                                                              |   |   |   |   |   |   |   |   |
| Distributions                | (409,114)                                                                                                        |   | -                                                                                                                                                                            |   | (409,114) |   | (2,556,600) |   | -  |   | (2,556,600) |
|                         |                                                                                                             |   |                                                                                                                                                                              |   |   |   |   |   |   |   |   |
| Balance at December 31, 2010 |  $             (1,187,422)                 |   |  $                      4,081                                  |   |  $          (1,183,341) |   |  $             (4,510,865) |   |  $                   176,145  |   |  $          (4,334,720) |

----

|                                                                                                                      | SERIES 2                                                                                                                                                                                                                          |   | SERIES 3                                                                                                                                                                                                       |
|---------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                      | 2010                                                                                                                                                                                                                              |   | 2009                                                                                                                                                                                                           |   | 2010 |   | 2009 |
| Cash Flows from Operating Activities:                                                                                     |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                      |   |   |   |   |
|     Net Income (Loss)                                                                                 |  $                        151,636                                                               |   |  $                     267,668                                                                   |   |  $                        784,291  |   |  $                     (58,872) |
|     Adjustments to Reconcile Net Income (Loss)                                                        |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
|         to Net Cash Used in Operating Activities:                                 |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
|           Gain on Sale of Project Partnerships                          | (192,677)                                                                                                                                                                                                                         |   | (331,632)                                                                                                                                                                                                      |   | (833,615) |   | -  |
|           Distribution Income                                           | (7,051)                                                                                                                                                                                                                           |   | (11,088)                                                                                                                                                                                                       |   | (2,800) |   | (16,045) |
|       Changes in Operating Assets and Liabilities:                                          |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
|           Increase in Payable to General Partners                       | 17,364                                                                                                                                                                                                                       |   | 30,867                                                                                                                                                                                                    |   | 27,084  |   | 25,729  |
|               Net Cash Used in Operating Activities | (30,728)                                                                                                                                                                                                                          |   | (44,185)                                                                                                                                                                                                       |   | (25,040) |   | (49,188) |
|                                                                                                                      |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
| Cash Flows from Investing Activities:                                                                                     |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
|     Distributions Received from Project Partnerships                                                  | 7,051                                                                                                                                                                                                                        |   | 11,088                                                                                                                                                                                                    |   | 2,800  |   | 16,045  |
|     Net Proceeds from Sale of Project Partnerships                                                    | 192,677                                                                                                                                                                                                                      |   | 331,632                                                                                                                                                                                                   |   | 833,615  |   | -  |
|             Net Cash Provided by Investing Activities         | 199,728                                                                                                                                                                                                                      |   | 342,720                                                                                                                                                                                                   |   | 836,415  |   | 16,045  |
|                                                                                                                      |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
| Cash Flows from Financing Activities:                                                                                     |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
|     Distributions Paid to Assignees                                                                   | -                                                                                                                                                                                                                            |   | -                                                                                                                                                                                                         |   | -  |   | -  |
|             Net Cash Used in Financing Activities             | -                                                                                                                                                                                                                            |   | -                                                                                                                                                                                                         |   | -  |   | -  |
|                                                                                                                      |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
| Increase (Decrease) in Cash and Cash Equivalents                                                                          | 169,000                                                                                                                                                                                                                      |   | 298,535                                                                                                                                                                                                   |   | 811,375  |   | (33,143) |
| Cash and Cash Equivalents at Beginning of Year                                                                            | 451,096                                                                                                                                                                                                                      |   | 161,708                                                                                                                                                                                                   |   | 112,146  |   | 148,892  |
|                                                                                                                      |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
| Cash and Cash Equivalents at End of Period                                                                                |  $                        620,096                                                               |   |  $                     460,243                                                                   |   |  $                        923,521  |   |  $                     115,749  |
|                                                                                                                      |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
| Supplemental disclosure of non-cash activities:                                                                           |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
|     Increase (Decrease) in Distribution Payable                                                       |  $                        192,677                                                               |   |  $                     331,632                                                              |   |  $                        833,615  |   |  $                                 -  |
|     Distribution to Assignees                                                                         | (192,677)                                                                                                                                                                                                                         |   | (331,632)                                                                                                                                                                                                      |   | (833,615) |   | -  |
|     Increase in Receivable - Other                                                                    | -                                                                                                                                                                                                                            |   | -                                                                                                                                                                                                         |   | -  |   | -  |
|     Increase in Deferred Gain on Sale of Project Partnerships                                         | -                                                                                                                                                                                                                            |   | -                                                                                                                                                                                                         |   | -  |   | -  |
|     Decrease in Payable to General Partners                                                           | -                                                                                                                                                                                                                            |   | -                                                                                                                                                                                                         |   | -  |   | -  |
|                                                                                                                      |  $                                    -  |   |  $                                -  |   |  $                                    -  |   |  $                                 -  |

----

|                                                                                                                      | SERIES 4                                                                                                                                                                                                                          |   | SERIES 5                                                                                                                                                                                                       |
|---------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                      | 2010                                                                                                                                                                                                                              |   | 2009                                                                                                                                                                                                           |   | 2010 |   | 2009 |
| Cash Flows from Operating Activities:                                                                                     |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
|     Net Income (Loss)                                                                                 |  $                        271,514                                                               |   |  $                     (46,280)                                                                  |   |  $                        777,054  |   |  $                       32,748  |
|     Adjustments to Reconcile Net Income (Loss)                                                        |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
|         to Net Cash Used in Operating Activities:                                 |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
|           Gain on Sale of Project Partnerships                          | (306,336)                                                                                                                                                                                                                         |   | (2,000)                                                                                                                                                                                                        |   | (814,858) |   | (144,815) |
|           Distribution Income                                           | (6,047)                                                                                                                                                                                                                           |   | (6,925)                                                                                                                                                                                                        |   | (13,017) |   | (21,968) |
|     Changes in Operating Assets and Liabilities:                                                      |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
|           Increase (Decrease) in Payable to General Partners            | 8,812                                                                                                                                                                                                                        |   | 13,501                                                                                                                                                                                                    |   | (6,121) |   | 77,264  |
|               Net Cash Used in Operating Activities | (32,057)                                                                                                                                                                                                                          |   | (41,704)                                                                                                                                                                                                       |   | (56,942) |   | (56,771) |
|                                                                                                                      |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
| Cash Flows from Investing Activities:                                                                                     |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
|     Distributions Received from Project Partnerships                                                  | 6,047                                                                                                                                                                                                                        |   | 6,925                                                                                                                                                                                                     |   | 13,017  |   | 21,968  |
|     Net Proceeds from Sale of Project Partnerships                                                    | 306,336                                                                                                                                                                                                                      |   | 2,000                                                                                                                                                                                                     |   | 814,858  |   | 144,815  |
|             Net Cash Provided by Investing Activities         | 312,383                                                                                                                                                                                                                      |   | 8,925                                                                                                                                                                                                     |   | 827,875  |   | 166,783  |
|                                                                                                                      |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
| Cash Flows from Financing Activities:                                                                                     |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
|     Distributions Paid to Assignees                                                                   | -                                                                                                                                                                                                                            |   | (191,200)                                                                                                                                                                                                      |   | -  |   | -  |
|             Net Cash Used in Financing Activities             | -                                                                                                                                                                                                                            |   | (191,200)                                                                                                                                                                                                      |   | -  |   | -  |
|                                                                                                                      |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
| Increase (Decrease) in Cash and Cash Equivalents                                                                          | 280,326                                                                                                                                                                                                                      |   | (223,979)                                                                                                                                                                                                      |   | 770,933  |   | 110,012  |
| Cash and Cash Equivalents at Beginning of Year                                                                            | 175,323                                                                                                                                                                                                                      |   | 408,013                                                                                                                                                                                                   |   | 479,047  |   | 107,240  |
|                                                                                                                      |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
| Cash and Cash Equivalents at End of Period                                                                                |  $                        455,649                                                               |   |  $                     184,034                                                              |   |  $                     1,249,980  |   |  $                     217,252  |
|                                                                                                                      |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
| Supplemental disclosure of non-cash activities:                                                                           |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                           |   |   |   |   |
|     Increase (Decrease) in Distribution Payable                                                       |  $                        306,336                                                                    |   |  $                                -  |   |  $                        814,858  |   |  $                     145,231  |
|     Distribution to Assignees                                                                         | (306,336)                                                                                                                                                                                                                         |   | -                                                                                                                                                                                                         |   | (814,858) |   | (145,231) |
|     Increase in Receivable - Other                                                                    | -                                                                                                                                                                                                                            |   | -                                                                                                                                                                                                         |   | -  |   | (124,273) |
|     Increase in Deferred Gain on Sale of Project Partnerships                                         | -                                                                                                                                                                                                                            |   | -                                                                                                                                                                                                         |   | -  |   | 122,273  |
|     Increase in Payable to General Partners                                                           | -                                                                                                                                                                                                                            |   | -                                                                                                                                                                                                         |   | -  |   | 2,000  |
|                                                                                                                      |  $                                    -  |   |  $                                -  |   |  $                                    -  |   |  $                                -  |

----

|                                                                                                                      | SERIES 6                                                                                                                                                                                                                          |   | TOTAL SERIES 2 - 6                                                                                                                                                                                        |
|---------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                      | 2010                                                                                                                                                                                                                              |   | 2009                                                                                                                                                                                                      |   | 2010 |   | 2009 |
| Cash Flows from Operating Activities:                                                                                     |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                      |   |   |   |   |
|     Net Income (Loss)                                                                                 |  $                        302,113                                                               |   |  $                   (120,640)                                                                        |   |  $                     2,286,608  |   |  $                       74,624  |
|     Adjustments to Reconcile Net Income (Loss)                                                        |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                      |   |   |   |   |
|         to Net Cash Used in Operating Activities:                                 |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                      |   |   |   |   |
|           Gain on Sale of Project Partnerships                          | (409,114)                                                                                                                                                                                                                         |   | -                                                                                                                                                                                                    |   | (2,556,600) |   | (478,447) |
|           Distribution Income                                           | (17,436)                                                                                                                                                                                                                          |   | (23,039)                                                                                                                                                                                                  |   | (46,351) |   | (79,065) |
|     Changes in Operating Assets and Liabilities:                                                      |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                      |   |   |   |   |
|           Increase in Payable to General Partners                       | 32,212                                                                                                                                                                                                                       |   | 56,638                                                                                                                                                                                               |   | 79,351  |   | 203,999  |
|               Net Cash Used in Operating Activities | (92,225)                                                                                                                                                                                                                          |   | (87,041)                                                                                                                                                                                                  |   | (236,992) |   | (278,889) |
|                                                                                                                      |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                      |   |   |   |   |
| Cash Flows from Investing Activities:                                                                                     |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                      |   |   |   |   |
|     Distributions Received from Project Partnerships                                                  | 17,436                                                                                                                                                                                                                       |   | 23,039                                                                                                                                                                                               |   | 46,351  |   | 79,065  |
|     Net Proceeds from Sale of Project Partnerships                                                    | 409,114                                                                                                                                                                                                                      |   | -                                                                                                                                                                                                    |   | 2,556,600  |   | 478,447  |
|             Net Cash Provided by Investing Activities         | 426,550                                                                                                                                                                                                                      |   | 23,039                                                                                                                                                                                               |   | 2,602,951  |   | 557,512  |
|                                                                                                                      |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                      |   |   |   |   |
| Cash Flows from Financing Activities:                                                                                     |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                      |   |   |   |   |
|     Distributions Paid to Assignees                                                                   | -                                                                                                                                                                                                                            |   | (131,062)                                                                                                                                                                                                 |   | -  |   | (322,262) |
|             Net Cash Used in Financing Activities             | -                                                                                                                                                                                                                            |   | (131,062)                                                                                                                                                                                                 |   | -  |   | (322,262) |
|                                                                                                                      |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                      |   |   |   |   |
| Increase (Decrease) in Cash and Cash Equivalents                                                                          | 334,325                                                                                                                                                                                                                      |   | (195,064)                                                                                                                                                                                                 |   | 2,365,959  |   | (43,639) |
| Cash and Cash Equivalents at Beginning of Year                                                                            | 229,672                                                                                                                                                                                                                      |   | 427,375                                                                                                                                                                                              |   | 1,447,284  |   | 1,253,228  |
|                                                                                                                      |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                      |   |    |   |   |
| Cash and Cash Equivalents at End of Period                                                                                |  $                        563,997                                                                    |   |  $                     232,311                                                              |   |  $                     3,813,243  |   |  $                  1,209,589  |
|                                                                                                                      |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                      |   |   |   |   |
| Supplemental disclosure of non-cash activities:                                                                           |                                                                                                                                                                                                                              |   |                                                                                                                                                                                                      |   |   |   |   |
|     Increase (Decrease) in Distribution Payable                                                       |  $                        409,114                                                               |   |  $                          (545)                                       |   |  $                     2,556,600  |   |  $                     477,408  |
|     Distribution to Assignees                                                                         | (409,114)                                                                                                                                                                                                                         |   | -                                                                                                                                                                                                    |   | (2,556,600) |   | (476,863) |
|     Increase in Receivable - Other                                                                    | -                                                                                                                                                                                                                            |   | -                                                                                                                                                                                                    |   | -  |   | (124,273) |
|     Increase in Deferred Gain on Sale of Project Partnerships                                         | -                                                                                                                                                                                                                            |   | -                                                                                                                                                                                                    |   | -  |   | 122,273  |
|     Increase (Decrease) in Payable to General Partners                                                | -                                                                                                                                                                                                                            |   | 545                                                                                                                                                                                                  |   | -  |   | 1,455  |
|                                                                                                                      |  $                                    -  |   |  $                                -  |   |  $                                    -  |   |  $                                 -  |

----

| 1)   | Gateway’s capital contribution, |
|----------------|---------------------------------------|

| 2)   | Acquisition fees paid to the General Partner for services rendered in selecting properties for acquisition, |
|----------------|-------------------------------------------------------------------------------------------------------------|

| 3)   | Acquisition expenses including legal fees, travel and other miscellaneous costs relating to acquiring properties. |
|----------------|-------------------------------------------------------------------------------------------------------------------|

----

| 1)   | Increased for equity in income or decreased for equity in loss of the Project Partnerships, |
|----------------|---------------------------------------------------------------------------------------------|

| 2)   | Decreased for cash distributions received from the Project Partnerships, |
|----------------|--------------------------------------------------------------------------|

| 3)   | Decreased for the amortization of the acquisition fees and expenses, |
|----------------|----------------------------------------------------------------------|

| 4)   | Decreased, where appropriate, for impairment. |
|----------------|-----------------------------------------------|

----

----

|     | 2010                                                                                                                                                                                                                  |   | 2009                                                                                                                                                                                                                                              |
|----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Series 2 | $                                    19,564 |   | $                                       33,761 |
| Series 3 | 22,884                                                                                                                                                                                                                |   | 28,299                                                                                                                                                                                                                                            |
| Series 4 | 14,089                                                                                                                                                                                                                |   | 18,023                                                                                                                                                                                                                                            |
| Series 5 | 37,598                                                                                                                                                                                                                |   | 57,612                                                                                                                                                                                                                                            |
| Series 6 | 58,126                                                                                                                                                                                                                |   | 61,049                                                                                                                                                                                                                                            |
| Total    | $                                  152,261  |   | $                                     198,744            |

|     | 2010                                                                                                                                                                                                                            |   | 2009                                                                                                                                                                                                                                               |
|----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Series 2 | $                                    17,692 |   | $                                        33,700 |
| Series 3 | 23,522                                                                                                                                                                                                                          |   | 31,655                                                                                                                                                                                                                                             |
| Series 4 | 14,667                                                                                                                                                                                                                          |   | 20,377                                                                                                                                                                                                                                             |
| Series 5 | -                                                                                                                                                                                                                               |   | 57,110                                                                                                                                                                                                                                             |
| Series 6 | 48,672                                                                                                                                                                                                                          |   | 61,200                                                                                                                                                                                                                                             |
| Total    | $                                  104,553            |   | $                                      204,042       |

----

| NOTE 4 - INVESTMENTS IN PROJECT PARTNERSHIPS:                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|      As of December 31, 2010, Gateway had acquired a 99% interest in the profits, losses, and Tax Credits as a limited partner in Project Partnerships (Series 2 - 0, Series 3 - 0, and Series 4 - 6) which own and operate government assisted multi-family housing complexes.  Cash flows from operations are allocated according to each Project Partnership agreement.  Upon dissolution, proceeds will be distributed according to each Project Partnership agreement. |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| The following is a summary of Investments in Project Partnerships as of:                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | SERIES 2 |   | SERIES 3 |   | SERIES 4 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | December 31, |   | March 31, |   | December 31, |   | March 31, |   | December 31, |   | March 31, |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 2010 |   | 2010 |   | 2010 |   | 2010 |   | 2010 |   | 2010 |
| Capital Contributions to Project Partnerships                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |
| and purchase price paid for limited partner                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   |   |   |   |   |   |   |   |   |   |
| interests in Project Partnerships                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |  $                              -  |   |  $            2,073,022  |   |  $                              -  |   |  $               2,494,974  |   |  $               809,456  |   |  $            1,402,420  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |
| Cumulative equity in losses of Project                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Partnerships (1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -  |   | (2,162,502) |   | -  |   | (2,675,808) |   | (849,257) |   | (1,479,274) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |
| Cumulative distributions received from                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Project Partnerships                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | -  |   | (34,090) |   | -  |   | (93,673) |   | (29,665) |   | (42,900) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |
| Investment in Project Partnerships before                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |
| Adjustment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | -  |   | (123,570) |   | -  |   | (274,507) |   | (69,466) |   | (119,754) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |
| Excess of investment cost over the underlying                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |
| assets acquired:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |   |   |   |   |   |   |   |   |   |
|   Acquisition fees and expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -  |   | 161,803  |   | -  |   | 318,739  |   | 89,059  |   | 147,412  |
|   Accumulated amortization of acquisition                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |
|   fees and expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | -  |   | (38,233) |   | -  |   | (44,232) |   | (19,593) |   | (27,658) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |
| Investments in Project Partnerships                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  $                              -  |   |  $                          -  |   |  $                              -  |   |  $                              -  |   |  $                          -  |   |  $                          -  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |
| (1) In accordance with Gateway's accounting policy to not carry investments in Project Partnerships below zero, cumulative suspended losses of $0 in Series 2, $0 in Series 3, and $1,501,609 in Series 4 for the period ended December 31, 2010; and cumulative suspended losses of $3,381,882 in Series 2, $6,220,928 in Series 3, and $2,694,245 in Series 4 for the year ended March 31, 2010 are not included.                                                                                                      |

----

| NOTE 4 - INVESTMENTS IN PROJECT PARTNERSHIPS (Continued):                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|      As of December 31, 2010, Gateway had acquired a 99% interest in the profits, losses, and Tax Credits as a limited partner in Project Partnerships (Series 5 - 12 and Series 6 - 25) which own and operate government assisted multi-family housing complexes.  Cash flows from operations are allocated according to each Project Partnership agreement.  Upon dissolution, proceeds will be distributed according to each Project Partnership agreement. |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| The following is a summary of Investments in Project Partnerships as of:                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | SERIES 5 |   | SERIES 6 |   | TOTAL SERIES 2 - 6 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | December 31, |   | March 31, |   | December 31, |   | March 31, |   | December 31, |   | March 31, |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 2010 |   | 2010 |   | 2010 |   | 2010 |   | 2010 |   | 2010 |
| Capital Contributions to Project Partnerships                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |
| and purchase price paid for limited partner                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |
| interests in Project Partnerships                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |  $               1,951,046  |   |  $            3,729,876  |   |  $               4,532,944  |   |  $            5,424,795  |   |  $            7,293,446  |   |  $          15,125,087  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Cumulative equity in losses of Project                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |
| Partnerships (1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | (1,978,254) |   | (3,886,172) |   | (4,661,281) |   | (5,590,369) |   | (7,488,792) |   | (15,794,125) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Cumulative distributions received from                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |
| Project Partnerships                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (95,985) |   | (121,537) |   | (152,419) |   | (191,505) |   | (278,069) |   | (483,705) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Investment in Project Partnerships before                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Adjustment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (123,193) |   | (277,833) |   | (280,756) |   | (357,079) |   | (473,415) |   | (1,152,743) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Excess of investment cost over the underlying                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |
| assets acquired:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |
|   Acquisition fees and expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 202,650  |   | 385,181  |   | 455,613  |   | 557,032  |   | 747,322  |   | 1,570,167  |
|   Accumulated amortization of acquisition                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |   |   |   |   |   |   |   |   |   |
|   fees and expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | (79,457) |   | (107,348) |   | (152,018) |   | (177,114) |   | (251,068) |   | (394,585) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
|   Reserve for Impairment of Investment in                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |   |   |   |   |   |   |   |   |   |
|   Project Partnerships                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | -  |   | -  |   | (22,839) |   | (22,839) |   | (22,839) |   | (22,839) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Investments in Project Partnerships                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |  $                              -  |   |  $                           -  |   |  $                              -  |   |  $                           -  |   |  $                           -  |   |  $                           -  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| (1) In accordance with Gateway's accounting policy to not carry investments in Project Partnerships below zero, cumulative suspended losses of $2,785,486 in Series 5 and $4,954,800 in Series 6 for the period ended December 31, 2010; and cumulative suspended losses of $6,427,740 in Series 5 and $5,680,549 in Series 6 for the year ended March 31, 2010 are not included.                                                                                                                           |

----

| NOTE 4 - INVESTMENTS IN PROJECT PARTNERSHIPS (Continued):                                                                                                                                                                                                                                                                                                                                |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                     |
|      In accordance with Gateway's policy of presenting the financial information of the Project Partnerships on a three month lag, below are the summarized balance sheets for the Project Partnerships of Series 2 and Series 3 as of September 30 and the respective summarized statements of operations for the nine months ended September 30 of each year: |
|                                                                                                                                                                                                                                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                                                     | SERIES 2 |   | SERIES 3 |
|                                                                                                                                                                                                                                                                                                                                                                                     | 2010 |   | 2009 |   | 2010 |   | 2009 |
| SUMMARIZED BALANCE SHEETS                                                                                                                                                                                                                                                                                                                                                                |   |   |   |   |   |   |   |
| Assets:                                                                                                                                                                                                                                                                                                                                                                                  |   |   |   |   |   |   |   |
|     Current assets                                                                                                                                                                                                                                                                                                                                                   |  $                                        -  |   |  $                          1,087,599  |   |  $                                        -  |   |  $                             1,669,967  |
|     Investment properties, net                                                                                                                                                                                                                                                                                                                                       | -  |   | 5,586,489  |   | -  |   | 4,510,137  |
|     Other assets                                                                                                                                                                                                                                                                                                                                                     | -  |   | 21,290  |   | -  |   | 82,709  |
|         Total assets                                                                                                                                                                                                                                                                                                                             |  $                                        -  |   |  $                          6,695,378  |   |  $                                        -  |   |  $                             6,262,813  |
|                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |
| Liabilities and Partners' Deficit:                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |   |   |   |
|     Current liabilities                                                                                                                                                                                                                                                                                                                                              |  $                                        -  |   |  $                             415,507  |   |  $                                        -  |   |  $                                268,155  |
|     Long-term debt                                                                                                                                                                                                                                                                                                                                                   | -  |   | 10,092,682  |   | -  |   | 12,616,228  |
|         Total liabilities                                                                                                                                                                                                                                                                                                                        | -  |   | 10,508,189  |   | -  |   | 12,884,383  |
|                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |
| Partners' equity (deficit)                                                                                                                                                                                                                                                                                                                                                               |   |   |   |   |   |   |   |
|     Limited Partner                                                                                                                                                                                                                                                                                                                                                  | -  |   | (3,540,484) |   | -  |   | (6,819,191) |
|     General Partners                                                                                                                                                                                                                                                                                                                                                 | -  |   | (272,327) |   | -  |   | 197,621  |
|         Total partners' deficit                                                                                                                                                                                                                                                                                                                  | -  |   | (3,812,811) |   | -  |   | (6,621,570) |
|                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |
|         Total liabilities and partners' deficit                                                                                                                                                                                                                                                                                                  |  $                                        -  |   |  $                          6,695,378  |   |  $                                        -  |   |  $                             6,262,813  |
|                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |
| SUMMARIZED STATEMENTS OF OPERATIONS                                                                                                                                                                                                                                                                                                                                                      |
| Rental and other income                                                                                                                                                                                                                                                                                                                                                                  |  $                                        -  |   |  $                          1,166,771  |   |  $                                        -  |   |  $                             1,621,638  |
| Expenses:                                                                                                                                                                                                                                                                                                                                                                                |   |   |   |   |   |   |   |
|     Operating expenses                                                                                                                                                                                                                                                                                                                                               | -  |   | 988,387  |   | -  |   | 1,236,322  |
|     Interest expense                                                                                                                                                                                                                                                                                                                                                 | -  |   | 163,425  |   | -  |   | 187,996  |
|     Depreciation and amortization                                                                                                                                                                                                                                                                                                                                    | -  |   | 290,828  |   | -  |   | 486,494  |
|                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |
|         Total expenses                                                                                                                                                                                                                                                                                                                           | -  |   | 1,442,640  |   | -  |   | 1,910,812  |
|                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |
|             Net loss                                                                                                                                                                                                                                                                                                         |  $                                        -  |   |  $                           (275,869) |   |  $                                        -  |   |  $                              (289,174) |
|                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |
| Other partners' share of net loss                                                                                                                                                                                                                                                                                                                                                        |  $                                        -  |   |  $                               (2,759) |   |  $                                        -  |   |  $                                  (2,892) |
|                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |
| Gateway's share of net loss                                                                                                                                                                                                                                                                                                                                                              |  $                                        -  |   |  $                           (273,110) |   |  $                                        -  |   |  $                              (286,282) |
| Suspended losses                                                                                                                                                                                                                                                                                                                                                                         | -  |   | 273,110  |   | -  |   | 286,282  |
|                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |
| Equity in Loss of Project Partnerships                                                                                                                                                                                                                                                                                                                                                   |  $                                        -  |   |  $                                        -  |   |  $                                        -  |   |  $                                           -  |

----

| NOTE 4 - INVESTMENTS IN PROJECT PARTNERSHIPS (Continued):                                                                                                                                                                                                                                                                                                                                |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                     |
|      In accordance with Gateway's policy of presenting the financial information of the Project Partnerships on a three month lag, below are the summarized balance sheets for the Project Partnerships of Series 4 and Series 5 as of September 30 and the respective summarized statements of operations for the nine months ended September 30 of each year: |
|                                                                                                                                                                                                                                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                                                     | SERIES 4 |   | SERIES 5 |
|                                                                                                                                                                                                                                                                                                                                                                                     | 2010 |   | 2009 |   | 2010 |   | 2009 |
| SUMMARIZED BALANCE SHEETS                                                                                                                                                                                                                                                                                                                                                                |   |   |   |   |   |   |   |
| Assets:                                                                                                                                                                                                                                                                                                                                                                                  |   |   |   |   |   |   |   |
|     Current assets                                                                                                                                                                                                                                                                                                                                                   |  $                               602,765  |   |  $                            1,079,083  |   |  $                         1,425,415  |   |  $                               2,763,214  |
|     Investment properties, net                                                                                                                                                                                                                                                                                                                                       | 2,369,173  |   | 3,731,574  |   | 5,500,583  |   | 11,932,523  |
|     Other assets                                                                                                                                                                                                                                                                                                                                                     | 10,651  |   | 17,658  |   | 4,899  |   | 28,741  |
|         Total assets                                                                                                                                                                                                                                                                                                                             |  $                            2,982,589  |   |  $                            4,828,315  |   |  $                         6,930,897  |   |  $                             14,724,478  |
|                                                                                                                                                                                                                                                                                                                                                                                     |
| Liabilities and Partners' Deficit:                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |   |   |   |
|     Current liabilities                                                                                                                                                                                                                                                                                                                                              |  $                               145,765  |   |  $                               201,716  |   |  $                            181,822  |   |  $                                  588,146  |
|     Long-term debt                                                                                                                                                                                                                                                                                                                                                   | 4,522,887  |   | 7,292,474  |   | 9,925,458  |   | 21,464,260  |
|         Total liabilities                                                                                                                                                                                                                                                                                                                        | 4,668,652  |   | 7,494,190  |   | 10,107,280  |   | 22,052,406  |
|                                                                                                                                                                                                                                                                                                                                                                                     |
| Partners' equity (deficit)                                                                                                                                                                                                                                                                                                                                                               |   |   |   |   |   |   |   |
|     Limited Partner                                                                                                                                                                                                                                                                                                                                                  | (1,573,453) |   | (2,800,419) |   | (2,964,068) |   | (7,104,284) |
|     General Partners                                                                                                                                                                                                                                                                                                                                                 | (112,610) |   | 134,544  |   | (212,315) |   | (223,644) |
|         Total partners' deficit                                                                                                                                                                                                                                                                                                                  | (1,686,063) |   | (2,665,875) |   | (3,176,383) |   | (7,327,928) |
|                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |
|         Total liabilities and partners' deficit                                                                                                                                                                                                                                                                                                  |  $                            2,982,589  |   |  $                            4,828,315  |   |  $                         6,930,897  |   |  $                             14,724,478  |
|                                                                                                                                                                                                                                                                                                                                                                                     |   |
| SUMMARIZED STATEMENTS OF OPERATIONS                                                                                                                                                                                                                                                                                                                                                      |
| Rental and other income                                                                                                                                                                                                                                                                                                                                                                  |  $                               532,476  |   |  $                               882,005  |   |  $                         1,166,271  |   |  $                               2,631,847  |
| Expenses:                                                                                                                                                                                                                                                                                                                                                                                |   |   |   |   |   |   |   |
|     Operating expenses                                                                                                                                                                                                                                                                                                                                               | 420,158  |   | 648,830  |   | 935,497  |   | 1,999,094  |
|     Interest expense                                                                                                                                                                                                                                                                                                                                                 | 74,209  |   | 119,852  |   | 161,456  |   | 339,749  |
|     Depreciation and amortization                                                                                                                                                                                                                                                                                                                                    | 141,998  |   | 243,461  |   | 306,564  |   | 665,685  |
|                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |
|         Total expenses                                                                                                                                                                                                                                                                                                                           | 636,365  |   | 1,012,143  |   | 1,403,517  |   | 3,004,528  |
|                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |
|             Net loss                                                                                                                                                                                                                                                                                                         |  $                             (103,889) |   |  $                             (130,138) |   |  $                          (237,246) |   |  $                                (372,681) |
|                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |
| Other partners' share of net loss                                                                                                                                                                                                                                                                                                                                                        |  $                                 (3,144) |   |  $                                 (3,283) |   |  $                              (2,372) |   |  $                                    (3,727) |
|                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |
| Gateway's share of net loss                                                                                                                                                                                                                                                                                                                                                              |  $                             (100,745) |   |  $                             (126,855) |   |  $                          (234,874) |   |  $                                (368,954) |
| Suspended losses                                                                                                                                                                                                                                                                                                                                                                         | 100,745  |   | 126,855  |   | 234,874  |   | 368,954  |
|                                                                                                                                                                                                                                                                                                                                                                                     |
| Equity in Loss of Project Partnerships                                                                                                                                                                                                                                                                                                                                                   |  $                                          -  |   |  $                                          -  |   |  $                                       -  |   |  $                                             -  |

----

| NOTE 4 - INVESTMENTS IN PROJECT PARTNERSHIPS (Continued):                                                                                                                                                                                                                                                                                                                                          |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                               |
|      In accordance with Gateway's policy of presenting the financial information of the Project Partnerships on a three month lag, below are the summarized balance sheets for the Project Partnerships of Series 6 and Total Series 2 - 6 as of September 30 and the respective summarized statements of operations for the nine months ended September 30 of each year: |
|                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                                                                                                                                                               | SERIES 6 |   | TOTAL SERIES 2 - 6 |
|                                                                                                                                                                                                                                                                                                                                                                                               | 2010 |   | 2009 |   | 2010 |   | 2009 |
| SUMMARIZED BALANCE SHEETS                                                                                                                                                                                                                                                                                                                                                                          |   |   |   |   |   |   |   |
| Assets:                                                                                                                                                                                                                                                                                                                                                                                            |   |   |   |   |   |   |   |
|     Current assets                                                                                                                                                                                                                                                                                                                                                             |  $                         3,258,436  |   |  $                             3,720,581  |   |  $                         5,286,616  |   |  $                           10,320,444  |
|     Investment properties, net                                                                                                                                                                                                                                                                                                                                                 | 14,243,137  |   | 17,379,305  |   | 22,112,893  |   | 43,140,028  |
|     Other assets                                                                                                                                                                                                                                                                                                                                                               | 28,893  |   | 24,784  |   | 44,443  |   | 175,182  |
|         Total assets                                                                                                                                                                                                                                                                                                                                       |  $                       17,530,466  |   |  $                           21,124,670  |   |  $                       27,443,952  |   |  $                           53,635,654  |
|                                                                                                                                                                                                                                                                                                                                                                                               |   |   |   |   |   |   |   |
| Liabilities and Partners' Deficit:                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |   |
|     Current liabilities                                                                                                                                                                                                                                                                                                                                                        |  $                            568,833  |   |  $                                627,874  |   |  $                            896,420  |   |  $                             2,101,398  |
|     Long-term debt                                                                                                                                                                                                                                                                                                                                                             | 22,840,551  |   | 27,221,318  |   | 37,288,896  |   | 78,686,962  |
|         Total liabilities                                                                                                                                                                                                                                                                                                                                  | 23,409,384  |   | 27,849,192  |   | 38,185,316  |   | 80,788,360  |
|                                                                                                                                                                                                                                                                                                                                                                                               |   |   |   |   |   |   |   |
| Partners' deficit                                                                                                                                                                                                                                                                                                                                                                                  |   |   |   |   |   |   |   |
|     Limited Partner                                                                                                                                                                                                                                                                                                                                                            | (5,352,532) |   | (6,150,768) |   | (9,890,053) |   | (26,415,146) |
|     General Partners                                                                                                                                                                                                                                                                                                                                                           | (526,386) |   | (573,754) |   | (851,311) |   | (737,560) |
|         Total partners' deficit                                                                                                                                                                                                                                                                                                                            | (5,878,918) |   | (6,724,522) |   | (10,741,364) |   | (27,152,706) |
|                                                                                                                                                                                                                                                                                                                                                                                               |   |   |   |   |   |   |   |
|         Total liabilities and partners' deficit                                                                                                                                                                                                                                                                                                            |  $                       17,530,466  |   |  $                           21,124,670  |   |  $                       27,443,952  |   |  $                           53,635,654  |
|                                                                                                                                                                                                                                                                                                                                                                                               |   |   |   |   |   |   |   |
| SUMMARIZED STATEMENTS OF OPERATIONS                                                                                                                                                                                                                                                                                                                                                                |
| Rental and other income                                                                                                                                                                                                                                                                                                                                                                            |  $                         2,719,342  |   |  $                             3,092,399  |   |  $                         4,418,089  |   |  $                             9,394,660  |
| Expenses:                                                                                                                                                                                                                                                                                                                                                                                          |   |   |   |   |   |   |   |
|     Operating expenses                                                                                                                                                                                                                                                                                                                                                         | 2,052,551  |   | 2,450,338  |   | 3,408,206  |   | 7,322,971  |
|     Interest expense                                                                                                                                                                                                                                                                                                                                                           | 335,614  |   | 405,206  |   | 571,279  |   | 1,216,228  |
|     Depreciation and amortization                                                                                                                                                                                                                                                                                                                                              | 675,982  |   | 808,031  |   | 1,124,544  |   | 2,494,499  |
|                                                                                                                                                                                                                                                                                                                                                                                               |   |   |   |   |   |   |   |
|         Total expenses                                                                                                                                                                                                                                                                                                                                     | 3,064,147  |   | 3,663,575  |   | 5,104,029  |   | 11,033,698  |
|                                                                                                                                                                                                                                                                                                                                                                                               |   |   |   |   |   |   |   |
|             Net loss                                                                                                                                                                                                                                                                                                                   |  $                           (344,805) |   |  $                              (571,176) |   |  $                           (685,940) |   |  $                           (1,639,038) |
|                                                                                                                                                                                                                                                                                                                                                                                               |   |   |   |   |   |   |   |
| Other partners' share of net loss                                                                                                                                                                                                                                                                                                                                                                  |  $                               (4,582) |   |  $                                  (6,161) |   |  $                             (10,098) |   |  $                                (18,822) |
|                                                                                                                                                                                                                                                                                                                                                                                               |   |   |   |   |   |   |   |
| Gateway's share of net loss                                                                                                                                                                                                                                                                                                                                                                        |  $                           (340,223) |   |  $                              (565,015) |   |  $                           (675,842) |   |  $                           (1,620,216) |
| Suspended losses                                                                                                                                                                                                                                                                                                                                                                                   | 340,223  |   | 565,015  |   | 675,842  |   | 1,620,216  |
|                                                                                                                                                                                                                                                                                                                                                                                               |   |   |   |   |   |   |   |
| Equity in Loss of Project Partnerships                                                                                                                                                                                                                                                                                                                                                             |  $                                        -  |   |  $                                           -  |   |  $                                        -  |   |  $                                           -  |

----

| Transaction    |                        |                                                                                                                             | Net Proceeds                                                                                                                                           | Gain (Loss)                                                                                                          | Deferred Gain                                                                                                                                                               |
|----------------|-----------------------------|----------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Month / Year   | Project Partnership         | Net Proceeds                                                                                                                     | Per BAC                                                                                                                                                | on Disposal                                                                                                          | on Disposal                                                                                                                                                                 |
| August 2010    | Richland Elderly            | $                     27,075 | $                         4.41 | $                   27,075 | $                             - |
| August 2010    | Pearson Elderly             | 19,874                                                                                                                           | 3.24                                                                                                                                                   | 19,874                                                                                                               | -                                                                                                                                                                           |
| August 2010    | Mount Vernon Elderly        | 16,675                                                                                                                           | 2.72                                                                                                                                                   | 16,675                                                                                                               | -                                                                                                                                                                           |
| August 2010    | Lakeland Elderly            | 23,075                                                                                                                           | 3.76                                                                                                                                                   | 23,075                                                                                                               | -                                                                                                                                                                           |
| September 2010 | Hartwell Family             | 1,500                                                                                                                            | 0.24                                                                                                                                                   | 1,500                                                                                                                | -                                                                                                                                                                           |
| September 2010 | Deerfield II                | 1,975                                                                                                                            | 0.32                                                                                                                                                   | 1,975                                                                                                                | -                                                                                                                                                                           |
| November 2010  | Cherrytree Apartments       | 23,769                                                                                                                           | 3.87                                                                                                                                                   | 23,769                                                                                                               | -                                                                                                                                                                           |
| November 2010  | Springwood Apartments       | 36,676                                                                                                                           | 5.98                                                                                                                                                   | 36,676                                                                                                               | -                                                                                                                                                                           |
| December 2010  | Manchester Housing          | 9,387                                                                                                                            | 1.53                                                                                                                                                   | 9,387                                                                                                                | -                                                                                                                                                                           |
| December 2010  | Heritage Village Apartments | 23,296                                                                                                                           | 3.80                                                                                                                                                   | 23,296                                                                                                               | -                                                                                                                                                                           |
| December 2010  | Woodland Terrace Apartments | 9,375                                                                                                                            | 1.53                                                                                                                                                   | 9,375                                                                                                                | -                                                                                                                                                                           |
| December 2010  | Park Place Apartments       | -                                                                                                                                | -                                                                                                                                                      | -                                                                                                                    | -                                                                                                                                                                           |
|           |                        |                                                                                                                             |                                                                                                                                                   | $                 192,677            | $                            -       |

----

| Transaction    |                     |                                                                                                                                   | Net Proceeds                                                                                                                                                 | Gain (Loss)                                                                                                          | Deferred Gain                                                                                                                                                               |
|----------------|--------------------------|----------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Month / Year   | Project Partnership      | Net Proceeds                                                                                                                           | Per BAC                                                                                                                                                      | on Disposal                                                                                                          | on Disposal                                                                                                                                                                 |
| August 2010    | Heritage Villas          | $                      19,875 | $                          3.64 | $                   19,875 | $                             - |
| September 2010 | Nowata Properties        | 87,294                                                                                                                                 | 16.00                                                                                                                                                        | 87,294                                                                                                               | -                                                                                                                                                                           |
| September 2010 | Poteau Properties II     | 142,615                                                                                                                                | 26.14                                                                                                                                                        | 142,615                                                                                                              | -                                                                                                                                                                           |
| September 2010 | Roland Properties II     | 142,615                                                                                                                                | 26.14                                                                                                                                                        | 142,615                                                                                                              | -                                                                                                                                                                           |
| September 2010 | Sallisaw Properties      | 142,615                                                                                                                                | 26.14                                                                                                                                                        | 142,615                                                                                                              | -                                                                                                                                                                           |
| September 2010 | Stilwell Properties      | 131,551                                                                                                                                | 24.11                                                                                                                                                        | 131,551                                                                                                              | -                                                                                                                                                                           |
| September 2010 | Waldron Properties       | 65,162                                                                                                                                 | 11.94                                                                                                                                                        | 65,162                                                                                                               | -                                                                                                                                                                           |
| November 2010  | Mill Run Apartments      | 2,538                                                                                                                                  | 0.47                                                                                                                                                         | 2,538                                                                                                                | -                                                                                                                                                                           |
| December 2010  | Countrywood Apartments   | 14,650                                                                                                                                 | 2.69                                                                                                                                                         | 14,650                                                                                                               | -                                                                                                                                                                           |
| December 2010  | Weston Apartments        | 1,650                                                                                                                                  | 0.30                                                                                                                                                         | 1,650                                                                                                                | -                                                                                                                                                                           |
| December 2010  | McKinley II Apartments   | 7,387                                                                                                                                  | 1.35                                                                                                                                                         | 7,387                                                                                                                | -                                                                                                                                                                           |
| December 2010  | Hornellsville Apartments | 7,644                                                                                                                                  | 1.40                                                                                                                                                         | 7,644                                                                                                                | -                                                                                                                                                                           |
| December 2010  | Wildwood Apartments      | 27,145                                                                                                                                 | 4.98                                                                                                                                                         | 27,145                                                                                                               | -                                                                                                                                                                           |
| December 2010  | Hancock Manor Apartments | 13,537                                                                                                                                 | 2.48                                                                                                                                                         | 13,537                                                                                                               | -                                                                                                                                                                           |
| December 2010  | Shiloh Apartments        | 27,337                                                                                                                                 | 5.01                                                                                                                                                         | 27,337                                                                                                               | -                                                                                                                                                                           |
|           |                     |                                                                                                                                   |                                                                                                                                                         | $                 833,615            | $                             - |

| Transaction    |                       |                                                                                                                                    | Net Proceeds                                                                                                                                     | Gain (Loss)                                                                                          | Deferred Gain                                                                                                                                                              |
|----------------|----------------------------|-----------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Month / Year   | Project Partnership        | Net Proceeds                                                                                                                            | Per BAC                                                                                                                                          | on Disposal                                                                                          | on Disposal                                                                                                                                                                |
| September 2010 | Stilwell Properties II     | $                      142,615 | $                       20.62 | $                 142,615 | $                            - |
| September 2010 | Westville Properties       | 98,356                                                                                                                                  | 14.22                                                                                                                                            | 98,356                                                                                               | -                                                                                                                                                                          |
| September 2010 | Spring Hill Senior Housing | 65,365                                                                                                                                  | 9.45                                                                                                                                             | 65,365                                                                                               | -                                                                                                                                                                          |
|           |                       |                                                                                                                                    |                                                                                                                                             | $                306,336  | $                            - |

----

| Transaction   |                         |                                                                                                                                   | Net Proceeds                                                                                                                                                 | Gain (Loss)                                                                                                          | Deferred Gain                                                                                                                                                               |
|---------------|------------------------------|----------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Month / Year  | Project Partnership          | Net Proceeds                                                                                                                           | Per BAC                                                                                                                                                      | on Disposal                                                                                                          | on Disposal                                                                                                                                                                 |
| April 2010    | Alma Properties              | $                      65,161 | $                          7.56 | $                   65,161 | $                             - |
| July 2010     | Carrollton Club              | 106,140                                                                                                                                | 12.32                                                                                                                                                        | 106,140                                                                                                              | -                                                                                                                                                                           |
| August 2010   | Crawford Rental Housing      | 19,875                                                                                                                                 | 2.31                                                                                                                                                         | 19,875                                                                                                               | -                                                                                                                                                                           |
| August 2010   | Greensboro Properties I      | 19,075                                                                                                                                 | 2.21                                                                                                                                                         | 19,075                                                                                                               | -                                                                                                                                                                           |
| August 2010   | Greensboro Properties II     | 25,475                                                                                                                                 | 2.96                                                                                                                                                         | 25,475                                                                                                               | -                                                                                                                                                                           |
| December 2010 | Heritage Square Apartments   | 99,389                                                                                                                                 | 11.54                                                                                                                                                        | 99,389                                                                                                               | -                                                                                                                                                                           |
| December 2010 | Savannah Park of Grove       | 164,712                                                                                                                                | 19.12                                                                                                                                                        | 164,712                                                                                                              | -                                                                                                                                                                           |
| December 2010 | Savannah Park of Spring Hill | 98,526                                                                                                                                 | 11.44                                                                                                                                                        | 98,526                                                                                                               | -                                                                                                                                                                           |
| December 2010 | Savannah Park of Clayton     | 65,128                                                                                                                                 | 7.56                                                                                                                                                         | 65,128                                                                                                               | -                                                                                                                                                                           |
|          |                         |                                                                                                                                   |                                                                                                                                                         | $                 663,481            | $                             - |

| Transaction   |                     |                                                                                                                                   | Net Proceeds                                                                                                                                                 | Gain (Loss)                                                                                                          | Deferred Gain                                                                                                                                                               |
|---------------|--------------------------|----------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Month / Year  | Project Partnership      | Net Proceeds                                                                                                                           | Per BAC                                                                                                                                                      | on Disposal                                                                                                          | on Disposal                                                                                                                                                                 |
| April 2010    | Logan Place L.P.         | $                      62,250 | $                          6.16 | $                   62,250 | $                             - |
| August 2010   | Lancaster House          | 110,000                                                                                                                                | 10.89                                                                                                                                                        | 110,000                                                                                                              | -                                                                                                                                                                           |
| December 2010 | Maple Wood Apartments.   | 105,356                                                                                                                                | 10.43                                                                                                                                                        | 105,356                                                                                                              | -                                                                                                                                                                           |
| December 2010 | Savannah Park of Parsons | 131,508                                                                                                                                | 13.01                                                                                                                                                        | 131,508                                                                                                              | -                                                                                                                                                                           |
|          |                     |                                                                                                                                   |                                                                                                                                                         | $                 409,114            | $                             - |

----

| Transaction   |                                |                                                                                                                                               | Net Proceeds                                                                                                                                     | Gain (Loss)                                                                                                          | Deferred Gain                                                                                                                                                         |
|---------------|-------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Month / Year  | Project Partnership                 | Net Proceeds                                                                                                                                       | Per BAC                                                                                                                                          | on Disposal                                                                                                          | on Disposal                                                                                                                                                           |
| December 2009 | Charleston Properties               | $                       87,503  | $                      14.26  | $                  87,503  | $                           -  |
| December 2009 | Pocola Properties                   | 98,566                                                                                                                                        | 16.06                                                                                                                                       | 98,566                                                                                                          | -                                                                                                                                                                |
| December 2009 | Sallisaw Properties II              | 128,995                                                                                                                                       | 21.02                                                                                                                                       | 128,995                                                                                                         | -                                                                                                                                                                |
| October 2009  | Sylacauga Heritage Apartments, Ltd. | -                                                                                                                                             | -                                                                                                                                           | -                                                                                                               | -                                                                                                                                                                |
| August 2009   | Lewiston Limited Partnership        | 16,568                                                                                                                                        | 2.70                                                                                                                                        | 16,568                                                                                                          | -                                                                                                                                                                |
|          |                                |                                                                                                                                               |                                                                                                                                             | $                331,632             | $                           -  |

| Transaction  |                                |                                                                                                                                                                                                | Net Proceeds                                                                                                                                                                            | Gain (Loss)                                                                                                                                                           | Deferred Gain                                                                                                                                                              |
|--------------|-------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Month / Year | Project Partnership                 | Net Proceeds                                                                                                                                                                                        | Per BAC                                                                                                                                                                                 | on Disposal                                                                                                                                                           | on Disposal                                                                                                                                                                |
| October 2009 | Village Apartments of St. Joseph II | $                                -  | $                              -  | $                           -  | $                           -  |
|         | Other, net (see below)              | -                                                                                                                                                                                              | -                                                                                                                                                                                  | 2,000                                                                                                                                                            | -                                                                                                                                                                     |
|         |                                |                                                                                                                                                                                                |                                                                                                                                                                                    | $                   2,000                                              | $                           -       |

| Transaction   |                                  |                                                                                                                                    | Net Proceeds                                                                                                                                           | Gain (Loss)                                                                                                                                                                | Deferred Gain                                                                                             |
|---------------|---------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------|
| Month / Year  | Project Partnership                   | Net Proceeds                                                                                                                            | Per BAC                                                                                                                                                | on Disposal                                                                                                                                                                | on Disposal                                                                                               |
| March 2010    | Blackshear Apartments, L.P., Phase II | $                     151,377  | $                       17.57  | $                           -  | $                151,377  |
| March 2010    | Woodcrest Associates of South Boston  | 132,434                                                                                                                            | 15.37                                                                                                                                             | 132,434                                                                                                                                                               | -                                                                                                    |
| December 2009 | Pine Terrace Apartments, L.P.         | 122,273                                                                                                                            | 14.19                                                                                                                                             | 122,273                                                                                                                                                               | -                                                                                                    |
| December 2009 | Shellman Housing, L.P.                | 12,181                                                                                                                             | 1.41                                                                                                                                              | 12,181                                                                                                                                                                | -                                                                                                    |
| December 2009 | Crisp Properties, L.P.                | 131,990                                                                                                                            | 15.32                                                                                                                                             | 131,574                                                                                                                                                               | -                                                                                                    |
| October 2009  | Village Apartments of Effingham       | 756                                                                                                                                | 0.09                                                                                                                                              | 756                                                                                                                                                                   | -                                                                                                    |
| October 2009  | Village Apartments of Seymour II      | 304                                                                                                                                | 0.03                                                                                                                                              | 304                                                                                                                                                                   | -                                                                                                    |
|          |                                  |                                                                                                                                    |                                                                                                                                                   | $                399,522                                                                   | $                151,377  |

----

| Transaction  |                   |                                                                                                                                                                                                | Net Proceeds                                                                                                                                                                            | Gain (Loss)                                                                                                               | Deferred Gain                                                                                                                                                              |
|--------------|------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Month / Year | Project Partnership    | Net Proceeds                                                                                                                                                                                        | Per BAC                                                                                                                                                                                 | on Disposal                                                                                                               | on Disposal                                                                                                                                                                |
|         | Other, net (see below) | $                                -  | $                              -  | $                   2,000  | $                           -  |
|         |                   |                                                                                                                                                                                                |                                                                                                                                                                                    | $                   2,000  | $                           -       |

| Series 4                |                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                                                                                                                           |
|-------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                    | Wynnwood Common                                                                                                                                                                                                                                                                                                                        |   | Piedmont Development                                                                                                                                                                                                                                                                           |
| Rental and other income | $                                                  147,818                   |   | $                                               118,363  |
| Gross profit            | 42,785                                                                                                                                                                                                                                                                                                                            |   | 17,093                                                                                                                                                                                                                                                                                    |
| Net Loss                | $                                                     (9,745) |   | $                                               (27,677)      |
|                    |                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                                                                                                                           |
| Series 5                |                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                                                                                                                           |
|                    | Yorkshire Retirement Village                                                                                                                                                                                                                                                                                                           |   |                                                                                                                                                                                                                                                                                           |
| Rental and other income | $                                                  205,473              |   |                                                                                                                                                                                                                                                                                           |
| Gross profit            | 28,962                                                                                                                                                                                                                                                                                                                            |   |                                                                                                                                                                                                                                                                                           |
| Net Loss                | $                                                   (48,237)                      |   |                                                                                                                                                                                                                                                                                           |

----

----

----

----

----

| Transaction    |                        |                                                                                                           | Net Proceeds                                                                                                                                           | Gain (Loss)                                                                                                                      | Deferred Gain                                                                                                                                                                                            |
|----------------|-----------------------------|----------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Month / Year   | Project Partnership         | Net Proceeds                                                                                                   | Per BAC                                                                                                                                                | on Disposal                                                                                                                      | on Disposal                                                                                                                                                                                              |
| August 2010    | Richland Elderly            | $                  27,075 | $                         4.41 | $                     27,075 | $                                 - |
| August 2010    | Pearson Elderly             | 19,874                                                                                                         | 3.24                                                                                                                                                   | 19,874                                                                                                                           | -                                                                                                                                                                                                        |
| August 2010    | Mount Vernon Elderly        | 16,675                                                                                                         | 2.72                                                                                                                                                   | 16,675                                                                                                                           | -                                                                                                                                                                                                        |
| August 2010    | Lakeland Elderly            | 23,075                                                                                                         | 3.76                                                                                                                                                   | 23,075                                                                                                                           | -                                                                                                                                                                                                        |
| September 2010 | Hartwell Family             | 1,500                                                                                                          | 0.24                                                                                                                                                   | 1,500                                                                                                                            | -                                                                                                                                                                                                        |
| September 2010 | Deerfield II                | 1,975                                                                                                          | 0.32                                                                                                                                                   | 1,975                                                                                                                            | -                                                                                                                                                                                                        |
| November 2010  | Cherrytree Apartments       | 23,769                                                                                                         | 3.87                                                                                                                                                   | 23,769                                                                                                                           | -                                                                                                                                                                                                        |
| November 2010  | Springwood Apartments       | 36,676                                                                                                         | 5.98                                                                                                                                                   | 36,676                                                                                                                           | -                                                                                                                                                                                                        |
| December 2010  | Manchester Housing          | 9,387                                                                                                          | 1.53                                                                                                                                                   | 9,387                                                                                                                            | -                                                                                                                                                                                                        |
| December 2010  | Heritage Village Apartments | 23,296                                                                                                         | 3.80                                                                                                                                                   | 23,296                                                                                                                           | -                                                                                                                                                                                                        |
| December 2010  | Woodland Terrace Apartments | 9,375                                                                                                          | 1.53                                                                                                                                                   | 9,375                                                                                                                            | -                                                                                                                                                                                                        |
| December 2010  | Park Place Apartments       | -                                                                                                              | -                                                                                                                                                      | -                                                                                                                                | -                                                                                                                                                                                                        |
|           |                        |                                                                                                           |                                                                                                                                                   | $                   192,677            | $                                 -      |

| Transaction    |                     |                                                                                                           | Net Proceeds                                                                                                                                           | Gain (Loss)                                                                                                                      | Deferred Gain                                                                                                                                                                                            |
|----------------|--------------------------|----------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Month / Year   | Project Partnership      | Net Proceeds                                                                                                   | Per BAC                                                                                                                                                | on Disposal                                                                                                                      | on Disposal                                                                                                                                                                                              |
| August 2010    | Heritage Villas          | $                  19,875 | $                         3.64 | $                     19,875 | $                                 - |
| September 2010 | Nowata Properties        | 87,294                                                                                                         | 16.00                                                                                                                                                  | 87,294                                                                                                                           | -                                                                                                                                                                                                        |
| September 2010 | Poteau Properties II     | 142,615                                                                                                        | 26.14                                                                                                                                                  | 142,615                                                                                                                          | -                                                                                                                                                                                                        |
| September 2010 | Roland Properties II     | 142,615                                                                                                        | 26.14                                                                                                                                                  | 142,615                                                                                                                          | -                                                                                                                                                                                                        |
| September 2010 | Sallisaw Properties      | 142,615                                                                                                        | 26.14                                                                                                                                                  | 142,615                                                                                                                          | -                                                                                                                                                                                                        |
| September 2010 | Stilwell Properties      | 131,551                                                                                                        | 24.11                                                                                                                                                  | 131,551                                                                                                                          | -                                                                                                                                                                                                        |
| September 2010 | Waldron Properties       | 65,162                                                                                                         | 11.94                                                                                                                                                  | 65,162                                                                                                                           | -                                                                                                                                                                                                        |
| November 2010  | Mill Run Apartments      | 2,538                                                                                                          | 0.47                                                                                                                                                   | 2,538                                                                                                                            | -                                                                                                                                                                                                        |
| December 2010  | Countrywood Apartments   | 14,650                                                                                                         | 2.69                                                                                                                                                   | 14,650                                                                                                                           | -                                                                                                                                                                                                        |
| December 2010  | Weston Apartments        | 1,650                                                                                                          | 0.30                                                                                                                                                   | 1,650                                                                                                                            | -                                                                                                                                                                                                        |
| December 2010  | McKinley II Apartments   | 7,387                                                                                                          | 1.35                                                                                                                                                   | 7,387                                                                                                                            | -                                                                                                                                                                                                        |
| December 2010  | Hornellsville Apartments | 7,644                                                                                                          | 1.40                                                                                                                                                   | 7,644                                                                                                                            | -                                                                                                                                                                                                        |
| December 2010  | Wildwood Apartments      | 27,145                                                                                                         | 4.98                                                                                                                                                   | 27,145                                                                                                                           | -                                                                                                                                                                                                        |
| December 2010  | Hancock Manor Apartments | 13,537                                                                                                         | 2.48                                                                                                                                                   | 13,537                                                                                                                           | -                                                                                                                                                                                                        |
| December 2010  | Shiloh Apartments        | 27,337                                                                                                         | 5.01                                                                                                                                                   | 27,337                                                                                                                           | -                                                                                                                                                                                                        |
|           |                     |                                                                                                           |                                                                                                                                                   | $                   833,615            | $                                 -      |

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| Transaction    |                       |                                                                                                | Net Proceeds                                                                                                                                     | Gain (Loss)                                                                                                           | Deferred Gain                                                                                                                                                                                                  |
|----------------|----------------------------|-----------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Month / Year   | Project Partnership        | Net Proceeds                                                                                        | Per BAC                                                                                                                                          | on Disposal                                                                                                           | on Disposal                                                                                                                                                                                                    |
| September 2010 | Stilwell Properties II     | $                142,615 | $                       20.62 | $                   142,615 | $                                 -            |
| September 2010 | Westville Properties       | 98,356                                                                                              | 14.22                                                                                                                                            | 98,356                                                                                                                | -                                                                                                                                                                                                              |
| September 2010 | Spring Hill Senior Housing | 65,365                                                                                              | 9.45                                                                                                                                             | 65,365                                                                                                                | -                                                                                                                                                                                                              |
|           |                       |                                                                                                |                                                                                                                                             | $                   306,336 | $                                  - |

| Transaction   |                         |                                                                                                           | Net Proceeds                                                                                                                                           | Gain (Loss)                                                                                                                      | Deferred Gain                                                                                                                                                                                            |
|---------------|------------------------------|----------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Month / Year  | Project Partnership          | Net Proceeds                                                                                                   | Per BAC                                                                                                                                                | on Disposal                                                                                                                      | on Disposal                                                                                                                                                                                              |
| April 2010    | Alma Properties              | $                  65,161 | $                         7.56 | $                     65,161 | $                                 - |
| July 2010     | Carrollton Club              | 106,140                                                                                                        | 12.32                                                                                                                                                  | 106,140                                                                                                                          | -                                                                                                                                                                                                        |
| August 2010   | Crawford Rental Housing      | 19,875                                                                                                         | 2.31                                                                                                                                                   | 19,875                                                                                                                           | -                                                                                                                                                                                                        |
| August 2010   | Greensboro Properties I      | 19,075                                                                                                         | 2.21                                                                                                                                                   | 19,075                                                                                                                           | -                                                                                                                                                                                                        |
| August 2010   | Greensboro Properties II     | 25,475                                                                                                         | 2.96                                                                                                                                                   | 25,475                                                                                                                           | -                                                                                                                                                                                                        |
| December 2010 | Heritage Square Apartments   | 99,389                                                                                                         | 11.54                                                                                                                                                  | 99,389                                                                                                                           | -                                                                                                                                                                                                        |
| December 2010 | Savannah Park of Grove       | 164,712                                                                                                        | 19.12                                                                                                                                                  | 164,712                                                                                                                          | -                                                                                                                                                                                                        |
| December 2010 | Savannah Park of Spring Hill | 98,526                                                                                                         | 11.44                                                                                                                                                  | 98,526                                                                                                                           | -                                                                                                                                                                                                        |
| December 2010 | Savannah Park of Clayton     | 65,128                                                                                                         | 7.56                                                                                                                                                   | 65,128                                                                                                                           | -                                                                                                                                                                                                        |
|          |                         |                                                                                                           |                                                                                                                                                   | $                   663,481            | $                                 -      |

| Transaction   |                     |                                                                                               | Net Proceeds                                                                                                                                                 | Gain (Loss)                                                                                                                            | Deferred Gain                                                                                                                                                                                             |
|---------------|--------------------------|----------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Month / Year  | Project Partnership      | Net Proceeds                                                                                       | Per BAC                                                                                                                                                      | on Disposal                                                                                                                            | on Disposal                                                                                                                                                                                               |
| April 2010    | Logan Place L.P.         | $                62,250 | $                          6.16 | $                      62,250 | $                                  -      |
| August 2010   | Lancaster House          | 110,000                                                                                            | 10.89                                                                                                                                                        | 110,000                                                                                                                                | -                                                                                                                                                                                                         |
| December 2010 | Maple Wood Apartments.   | 105,356                                                                                            | 10.43                                                                                                                                                        | 105,356                                                                                                                                | -                                                                                                                                                                                                         |
| December 2010 | Savannah Park of Parsons | 131,508                                                                                            | 13.01                                                                                                                                                        | 131,508                                                                                                                                | -                                                                                                                                                                                                         |
|          |                     |                                                                                               |                                                                                                                                                         | $                    409,114            | $                                  - |

----

| Transaction   |                                |                                                                                                           | Net Proceeds                                                                                                                                | Gain (Loss)                                                                                                                      | Deferred Gain                                                                                                                                                                                            |
|---------------|-------------------------------------|----------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Month / Year  | Project Partnership                 | Net Proceeds                                                                                                   | Per BAC                                                                                                                                     | on Disposal                                                                                                                      | on Disposal                                                                                                                                                                                              |
| December 2009 | Charleston Properties               | $                 87,503  | $                      14.26  | $                    87,503  | $                                -  |
| December 2009 | Pocola Properties                   | 98,566                                                                                                    | 16.06                                                                                                                                  | 98,566                                                                                                                      | -                                                                                                                                                                                                   |
| December 2009 | Sallisaw Properties II              | 128,995                                                                                                   | 21.02                                                                                                                                  | 128,995                                                                                                                     | -                                                                                                                                                                                                   |
| October 2009  | Sylacauga Heritage Apartments, Ltd. | -                                                                                                         | -                                                                                                                                      | -                                                                                                                           | -                                                                                                                                                                                                   |
| August 2009   | Lewiston Limited Partnership        | 16,568                                                                                                    | 2.70                                                                                                                                   | 16,568                                                                                                                      | -                                                                                                                                                                                                   |
|          |                                |                                                                                                           |                                                                                                                                        | $                  331,632             | $                                -       |

| Transaction  |                                |                                                                                                                                                                  | Net Proceeds                                                                                                                                                                            | Gain (Loss)                                                                                                                                                                             | Deferred Gain                                                                                                                                                                                            |
|--------------|-------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Month / Year | Project Partnership                 | Net Proceeds                                                                                                                                                          | Per BAC                                                                                                                                                                                 | on Disposal                                                                                                                                                                             | on Disposal                                                                                                                                                                                              |
| October 2009 | Village Apartments of St. Joseph II | $                           -  | $                              -  | $                              -  | $                                -  |
|         | Other, net (see below)              | -                                                                                                                                                                | -                                                                                                                                                                                  | 2,000                                                                                                                                                                              | -                                                                                                                                                                                                   |
|         |                                |                                                                                                                                                                  |                                                                                                                                                                                    | $                      2,000                                              | $                                -       |

| Transaction   |                                  |                                                                                                | Net Proceeds                                                                                                                                | Gain (Loss)                                                                                                                                                                             | Deferred Gain                                                                                                                           |
|---------------|---------------------------------------|-----------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------|
| Month / Year  | Project Partnership                   | Net Proceeds                                                                                        | Per BAC                                                                                                                                     | on Disposal                                                                                                                                                                             | on Disposal                                                                                                                             |
| March 2010    | Blackshear Apartments, L.P., Phase II | $               151,377  | $                      17.57  | $                              -  | $                     151,377  |
| March 2010    | Woodcrest Associates of South Boston  | 132,434                                                                                        | 15.37                                                                                                                                  | 132,434                                                                                                                                                                            | -                                                                                                                                  |
| December 2009 | Pine Terrace Apartments, L.P.         | 122,273                                                                                        | 14.19                                                                                                                                  | 122,273                                                                                                                                                                            | -                                                                                                                                  |
| December 2009 | Shellman Housing, L.P.                | 12,181                                                                                         | 1.41                                                                                                                                   | 12,181                                                                                                                                                                             | -                                                                                                                                  |
| December 2009 | Crisp Properties, L.P.                | 131,990                                                                                        | 15.32                                                                                                                                  | 131,574                                                                                                                                                                            | -                                                                                                                                  |
| October 2009  | Village Apartments of Effingham       | 756                                                                                            | 0.09                                                                                                                                   | 756                                                                                                                                                                                | -                                                                                                                                  |
| October 2009  | Village Apartments of Seymour II      | 304                                                                                            | 0.03                                                                                                                                   | 304                                                                                                                                                                                | -                                                                                                                                  |
|          |                                  |                                                                                                |                                                                                                                                        | $                  399,522                                                               | $                     151,377  |

----

| Transaction  |                   |                                                                                                                                                                  | Net Proceeds                                                                                                                                                                            | Gain (Loss)                                                                                                                                 | Deferred Gain                                                                                                                                                                                            |
|--------------|------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Month / Year | Project Partnership    | Net Proceeds                                                                                                                                                          | Per BAC                                                                                                                                                                                 | on Disposal                                                                                                                                 | on Disposal                                                                                                                                                                                              |
|         | Other, net (see below) | $                           -  | $                              -  | $                      2,000  | $                                -  |
|         |                   |                                                                                                                                                                  |                                                                                                                                                                                    | $                      2,000  | $                                -       |

| Wynnwood Common Associates |   |
|----------------------------|--------|

| Dawson Elderly, L.P. |   |
|----------------------|--------|

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----

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| GATEWAY TAX CREDIT FUND II, LTD.         |
|------------------------------------------|
| (A Florida Limited Partnership)          |
| By: Raymond James Tax Credit Funds, Inc. |
| (the Managing General Partner)           |

| Date: February 11, 2011 |   | By:/s/ Ronald M. Diner |
|-------------------------|--------|------------------------|
|                    |   | Ronald M. Diner        |
|                    |   | President              |

| Date: February 11, 2011 |   | By:/s/ Toni S. Matthews                    |
|-------------------------|--------|--------------------------------------------|
|                    |   | Toni S. Matthews                           |
|                    |   | Vice President and Chief Financial Officer |

----