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| Assets                                                 |   | September 30 |        |   | March 31 |   |
|--------------------------------------------------------|--------|--------------|-------------|--------|----------|--------|
|                                                   |   |         |        |   |     |   |
| Cash and cash equivalents                              |   | $            | 276,879     |   |     | $      | 372,567 |   |
| Investments in Local Limited Partnerships (Note 1)     |   |         | 2,333,837   |   |     |   | 2,322,351 |   |
| Other assets                                           |   |         |  1,095 |   |     |   |  233 |   |
| Total Assets                                           |   | $            | 2,611,811   |   |     | $      | 2,695,151 |   |
|                                                   |   |         |        |   |     |   |   |   |
| Liabilities and Partners' Equity                       |   |         |        |   |     |   |   |   |
|                                                   |   |         |        |   |     |   |   |   |
| Due to affiliate                                       |   | $            | 703,765     |   |     | $      | 568,505 |   |
| Accrued expenses                                       |   |         | 21,550      |   |     |   | 56,036 |   |
| Total Liabilities                                      |   |         | 725,315     |   |     |   | 624,541 |   |
|                                                   |   |         |        |   |     |   |   |   |
| General, Initial and Investor Limited Partners' Equity |   |         | 1,886,496   |   |     |   | 2,070,610 |   |
| Total Liabilities and Partners' Equity                 |   | $            | 2,611,811   |   |     | $      | 2,695,151 |   |
|                                                   |   |         |        |   |     |   |   |   |

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|                                                                                               |   |     Three Months Ended |     |   |      Six Months Ended |   |
|----------------------------------------------------------------------------------------------------|--------|---------------------------------------|----------|--------|-------------------------------------------|--------|
|                                                                                               |   | September 30,                         |     |   | September 30,                             |   |   | September 30, |   |   | September 30, |   |
|                                                                                               |   |     2010               |     |   |   2009                               |   |   |    2010 |   |   |     2009 |   |
| Revenue:                                                                                           |   |                                  |     |   |                                      |   |   |   |   |   |   |   |
| Investment                                                                                         |   | $                                     | 291      |   |                                      | $      | 86 |   |   | $ | 647 |   |   | $ | 471 |   |
| Total Revenue                                                                                      |   |                                  | 291      |   |                                      |   | 86 |   |   |   | 647 |   |   |   | 471 |   |
|                                                                                               |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
| Expense:                                                                                           |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
| Asset management fees, affiliate                                                                   |   |                                  | 67,630   |   |                                      |   | 65,852 |   |   |   | 135,260 |   |   |   | 131,704 |   |
|       Provision for valuation allowance on                           |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
|           advances to Local Limited Partnerships |   |                                  | -        |   |                                      |   | 59,905 |   |   |   | - |   |   |   | 209,146 |   |
|       Impairment on investments in Local                             |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
|           Limited Partnerships                   |   |                                  | -        |   |                                      |   | 19,000 |   |   |   | 89,000 |   |   |   | 518,000 |   |
| General and administrative                                                                         |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
| (includes reimbursements to an affiliate                                                           |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
| in the amounts of $70,237 and                                                                      |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
| $45,337 for the six months ended                                                                   |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
| September 30, 2010 and 2009,                                                                       |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
| respectively)                                                                                      |   |                                  | 52,577   |   |                                      |   | 42,256 |   |   |   | 105,744 |   |   |   | 95,177 |   |
| Amortization                                                                                       |   |                                  | 437      |   |                                      |   | - |   |   |   | 874 |   |   |   | 1,518 |   |
| Total Expenses                                                                                     |   |                                  | 120,644  |   |                                      |   | 187,013 |   |   |   | 330,878 |   |   |   | 955,545 |   |
|                                                                                               |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
| Loss before equity in income                                                                       |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
| of Local Limited Partnerships                                                                      |   |                                  | (120,353 | )      |                                      |   | (186,927 | ) |   |   | (330,231 | ) |   |   | (955,074 | ) |
|                                                                                               |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
| Equity in income of Local Limited                                                                  |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
| Partnerships (Note 1)                                                                              |   |                                  | 56,621   |   |                                      |   | 25,265 |   |   |   | 146,117 |   |   |   | 10,199 |   |
|                                                                                               |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
| Loss on sale of investments in Local                                                               |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
|      Limited Partnerships                                                 |   |                                  |  -  |   |                                      |   |  (136,762 | ) |   |   |  - |   |   |   |  (136,762 | ) |
|                                                                                               |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
| Net Loss                                                                                           |   | $                                     | (63,732  | )      |                                      | $      | (298,424 | ) |   | $ | (184,114 | ) |   | $ | (1,081,637 | ) |
|                                                                                               |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
| Net Loss allocated:                                                                                |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
| General Partners                                                                                   |   | $                                     | (637     | )      |                                      | $      | (2,984 | ) |   | $ | (1,841 | ) |   | $ | (10,816 | ) |
| Limited Partners                                                                                   |   |                                  | (63,095  | )      |                                      |   | (295,440 | ) |   |   | (182,273 | ) |   |   | (1,070,821 | ) |
|                                                                                               |   | $                                     | (63,732  | )      |                                      | $      | (298,424 | ) |   | $ | (184,114 | ) |   | $ | (1,081,637 | ) |
|                                                                                               |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
| Net Loss Per Limited Partner                                                                       |   |                                  |     |   |                                      |   |   |   |   |   |   |   |   |   |   |   |
| Unit (36,497 Units)                                                                                |   | $                                     | (1.73    | )      |                                      | $      | (8.09 | ) |   | $ | (4.99 | ) |   | $ | (29.34 | ) |

|   |   |   |
|--------|--------|--------|
|   |   |   |

----

|                          |   |                                                |   |   |                                                           |   |   |                                    |   |   |                                                               |   |
|-------------------------------|--------|-----------------------------------------------------|--------|--------|----------------------------------------------------------------|--------|--------|-----------------------------------------|--------|--------|--------------------------------------------------------------------|--------|
|                          |   |                                                |   |   |         Initial             |   |   |       Investor |   |   |                                                               |   |
|                          |   |        General        |   |   |           Limited |   |   |       Limited  |   |   |                                                               |   |
|                          |   |         Partners |   |   |          Partner       |   |   |       Partners |   |   |            Total |   |
|                          |   |                                                |   |   |                                                           |   |   |                                    |   |   |                                                               |   |
| Balance at March 31, 2010     |   | $                                                   | 20,707 |   |                                                           | $      | 100    |                                    |   | $      | 2,049,803                                                          |   |   | $ | 2,070,610 |   |
|                          |   |                                                |   |   |                                                           |   |   |                                    |   |   |                                                               |   |   |   |   |   |
| Net Loss                      |   |                                                | (1,841 | )      |                                                           |   | -      |                                    |   |   | (182,273                                                           | )      |   |   | (184,114 | ) |
|                          |   |                                                |   |   |                                                           |   |   |                                    |   |   |                                                               |   |   |   |   |   |
| Balance at September 30, 2010 |   | $                                                   | 18,866 |   |                                                           | $      | 100    |                                    |   | $      | 1,867,530                                                          |   |   | $ | 1,886,496 |   |
|                          |   |                                                |   |   |                                                           |   |   |                                    |   |   |                                                               |   |   |   |   |   |
|                          |   |                                                |   |   |                                                           |   |   |                                    |   |   |                                                               |   |   |   |   |   |
|                          |   |                                                |   |   |                                                           |   |   |                                    |   |   |                                                               |   |   |   |   |   |

----

|                                                 |   |                          |     |   |                                      |   |
|------------------------------------------------------|--------|-------------------------------|----------|--------|-------------------------------------------|--------|
|                                                 |   |      2010 |     |   |        2009 |   |
|                                                 |   |                          |     |   |                                      |   |
| Net cash used for operating activities               |   | $                             | (140,445 | )      |                                      | $      | (44,795 | ) |
|                                                 |   |                          |     |   |                                      |   |   |   |
| Net cash provided by investing activities            |   |                          | 44,757   |   |                                      |   | 827,416 |   |
|                                                 |   |                          |     |   |                                      |   |   |   |
| Net increase (decrease) in cash and cash equivalents |   |                          | (95,688  | )      |                                      |   | 782,621 |   |
|                                                 |   |                          |     |   |                                      |   |   |   |
| Cash and cash equivalents, beginning                 |   |                          | 372,567  |   |                                      |   | 109,829 |   |
|                                                 |   |                          |     |   |                                      |   |   |   |
| Cash and cash equivalents, ending                    |   | $                             | 276,879  |   |                                      | $      | 892,450 |   |

----

----

|                                                                                   |   |    September 30 |        |   |      March 31 |   |
|----------------------------------------------------------------------------------------|--------|---------------------------|-------------|--------|-----------------------------------|--------|
|                                                                                   |   |                      |        |   |                              |   |
| Capital contributions and advances paid to Local Limited Partnerships                  |   | $                         | 19,336,206  |   |                              | $      | 19,336,206 |   |
|                                                                                   |   |                      |        |   |                              |   |   |   |
| Cumulative equity in losses of Local Limited Partnerships (excluding                   |   |                      |        |   |                              |   |   |   |
|     cumulative unrecognized losses of $4,328,790 and $3,787,055 at |   |                      |        |   |                              |   |   |   |
|     September 30 and March 31, respectively)                       |   |                      | (11,621,095 | )      |                              |   | (11,767,212 | ) |
|                                                                                   |   |                      |        |   |                              |   |   |   |
| Cumulative cash distributions received from Local Limited Partnerships                 |   |                      | (882,099    | )      |                              |   | (837,342 | ) |
|                                                                                   |   |                      |        |   |                              |   |   |   |
| Investments in Local Limited Partnerships before adjustments                           |   |                      | 6,833,012   |   |                              |   | 6,731,652 |   |
|                                                                                   |   |                      |        |   |                              |   |   |   |
| Excess investment costs over the underlying assets acquired:                           |   |                      |        |   |                              |   |   |   |
|                                                                                   |   |                      |        |   |                              |   |   |   |
| Acquisition fees and expenses                                                          |   |                      | 662,167     |   |                              |   | 662,167 |   |
|                                                                                   |   |                      |        |   |                              |   |   |   |
| Cumulative amortization of acquisition fees and expenses                               |   |                      | (199,128    | )      |                              |   | (198,254 | ) |
|                                                                                   |   |                      |        |   |                              |   |   |   |
| Investments in Local Limited Partnerships before valuation allowance                   |   |                      | 7,296,051   |   |                              |   | 7,195,565 |   |
|                                                                                   |   |                      |        |   |                              |   |   |   |
| Valuation allowance on investments in Local Limited Partnerships                       |   |                      | (4,962,214  | )      |                              |   | (4,873,214 | ) |
|                                                                                   |   |                      |        |   |                              |   |   |   |
| Investments in Local Limited Partnerships                                              |   | $                         | 2,333,837   |   |                              | $      | 2,322,351 |   |
|                                                                                   |   |                      |        |   |                              |   |   |   |

----

|                                       |   | 2010   |    |   | 2009   |   |
|--------------------------------------------|--------|--------|---------|--------|--------|--------|
|                                       |   |   |    |   |   |   |
| Oak Knoll Renaissance, Limited Partnership |   |   |    |   |   |   |
| Revenue                                    |   | $      | 562,994 |   |   | $      | 548,124 |   |
| Net Income                            |   | $      | 57,193  |   |   | $      | 58,841 |   |
|                                       |   |   |    |   |   |   |   |   |
|                                       |   |   |    |   |   |   |   |   |

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| (a)   | Exhibits |
|-----------------|----------|

|   | 31.1 | Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------|

|   | 31.2 | Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------|

|   | 32.1 | Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------|

|   | 32.2 | Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | Reports on Form 8-K – No reports on Form 8-K were filed during the quarter ended September 30, 2010 |
|-----------------|-----------------------------------------------------------------------------------------------------------|

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