Table of
Contents





UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


Washington,
D.C. 20549





FORM
10-Q


(Mark
One)





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




For the
quarterly period ended March 31, 2008


or




o
            TRANSITION
      REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF
      1934For
      the transition period from _____ to _____




Commission
file number:   0-25430





RIDGEWOOD
ELECTRIC POWER TRUST IV


(Exact
Name of Registrant as Specified in Its Charter)





Delaware
            
            22-3324608(State
      of Other Jurisdiction
              of
      Incorporation or Organization)
            
            (I.R.S.
      Employer Identification No.)





1314
      King Street, Wilmington, Delaware
            
            19801(Address
      of Principal Executive Offices)
            
            (Zip
      Code)





(302)
      888-7444(Issuer’s
      Telephone Number, Including Area Code)




(Former
      name, former address and former fiscal year, if changed since last
      report)





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





Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
definition of “large accelerated filer”, “accelerated filer” and “smaller
reporting company” in Rule 12b-2 of the Exchange Act. (Check one):


Large
accelerated filer o   Accelerated
filer oNon-accelerated
filer o    Smaller
reporting company   x
 (Do not check if a smaller
reporting company)


Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act).  Yes   o     No   
x





As of
March 31, 2008, there were 476.8875 Investor Shares outstanding.








Table of Contents


FORM
10-Q





TABLE OF CONTENTS





PART
      I.
            FINANCIAL
      INFORMATION
            
            PageItem 1.
            Financial Statements
            
            1Item 2.
            Management’s Discussion and Analysis of Financial Condition and
      Results of Operations
            
            7Item 3.
            Quantitative and Qualitative Disclosures About Market
      Risk
            
            8Item 4.
            Controls and Procedures
            
            8PART
      II.
            OTHER
      INFORMATIONItem 1.
            Legal Proceedings
            
            9Item 1A.
            Risk Factors
            
            9Item 2.
            Unregistered Sales of Equity Securities and Use of
      Proceeds
            
            9Item 3.
            Defaults Upon Senior Securities
            
            9Item 4.
            Submission of Matters to a Vote of Security
      Holders
            
            9Item 5.
            Other Information
            
            9Item 6.
            Exhibits
            
            9SIGNATURES
            
            
            10







Table of Contents




PART
I.   FINANCIAL INFORMATION





ITEM
1.   FINANCIAL STATEMENTS







RIDGEWOOD
      ELECTRIC POWER TRUST IVCONDENSED
      CONSOLIDATED BALANCE SHEETS(in
      thousands, except share data)March
      31,
              
              
              December
      31,2008
              
              
              2007(unaudited)ASSETSCurrent
      assets:Cash
      and cash equivalents
              
              $
              258
              
              
              $
              781Accounts
      receivable
              
              
              2,165
              
              
              
              2,083Due
      from affiliates
              
              
              69
              
              
              
              153Prepaid
      expenses and other current assets
              
              
              210
              
              
              
              130Total
      current assets
              
              
              2,702
              
              
              
              3,147Notes
      receivable, affiliates
              
              
              5,364
              
              
              
              5,263Investments
              
              
              5,738
              
              
              
              5,293Plant
      and equipment, net
              
              
              7,458
              
              
              
              7,656Intangibles,
      net
              
              
              1,104
              
              
              
              1,255Other
      assets
              
              
              450
              
              
              
              450Total
      assets
              
              $
              22,816
              
              
              $
              23,064LIABILITIES
      AND SHAREHOLDERS’ EQUITYCurrent
      liabilities:Accounts
      payable
              
              $
              494
              
              
              $
              461Accrued
      royalty expense
              
              
              485
              
              
              
              466Due
      to affiliates
              
              
              243
              
              
              
              603Total
      current liabilities
              
              
              1,222
              
              
              
              1,530Minority
      interest
              
              
              3,728
              
              
              
              3,962Total
      liabilities
              
              
              4,950
              
              
              
              5,492Commitments
      and contingenciesShareholders’
      equity (deficit):Shareholders’
      equity (476.8875 Investor Sharesissued
      and outstanding)
              
              
              17,956
              
              
              
              17,665Managing
      Shareholder’s accumulated deficit(1
      management share issued and outstanding)
              
              
              (90
              )
              
              
              (93
              )Total
      shareholders’ equity
              
              
              17,866
              
              
              
              17,572Total
      liabilities and shareholders’ equity
              
              $
              22,816
              
              
              $
              23,064








The
accompanying notes are an integral part of these condensed consolidated
financial statements.




1
 Table of Contents


RIDGEWOOD
      ELECTRIC POWER TRUST IVCONDENSED
      CONSOLIDATED STATEMENTS OF OPERATIONS(unaudited,
      in thousands, except share data)Three
      Months Ended March 31,2008
              
              
              2007Power
      generation revenue
              
              $
              2,014
              
              
              $
              1,884Renewable
      attribute revenue
              
              
              1,268
              
              
              
              1,272Sublease
      revenue
              
              
              -
              
              
              
              146Total
      revenues
              
              
              3,282
              
              
              
              3,302Cost
      of revenues
              
              
              2,490
              
              
              
              2,399Gross
      profit
              
              
              792
              
              
              
              903Operating
      expenses:General
      and administrative expenses
              
              
              759
              
              
              
              119Management
      fee to Managing Shareholder
              
              
              134
              
              
              
              134Total
      operating expenses
              
              
              893
              
              
              
              253(Loss)
      income from operations
              
              
              (101
              )
              
              
              650Other
      income (expense):Equity
      in income of Maine Hydro
              
              
              537
              
              
              
              228Equity
      in (loss) income of Indeck Maine
              
              
              (92
              )
              
              
              187Interest
      income
              
              
              105
              
              
              
              107Other
      income
              
              
              4
              
              
              
              -Total
      other income, net
              
              
              554
              
              
              
              522Income
      before minority interest
              
              
              453
              
              
              
              1,172Minority
      interest in the earnings of subsidiaries
              
              
              (159
              )
              
              
              (305
              )Net
      income
              
              $
              294
              
              
              $
              867Managing
      Shareholder – Net income
              
              $
              3
              
              
              $
              9Shareholders
      – Net income
              
              
              291
              
              
              
              858Net
      income per Investor Share
              
              
              610
              
              
              
              1,799Distributions
      per Investor Share
              
              
              -
              
              
              
              2,000











The
accompanying notes are an integral part of these condensed consolidated
financial statements.




2
 Table of Contents


RIDGEWOOD
      ELECTRIC POWER TRUST IVCONDENSED
      CONSOLIDATED STATEMENTS OF CASH FLOWS(unaudited,
      in thousands)Three
      Months Ended March 31,2008
              
              
              2007Cash
      flows from operating activities:Net
      cash (used in) provided by operating activities
              
              $
              (130
              )
              
              $
              817Cash
      flows from financing activities:Cash
      distributions to minority interest
              
              
              (393
              )
              
              
              (428
              )Cash
      distribution to shareholders
              
              
              -
              
              
              
              (963
              )Net
      cash used in financing activities
              
              
              (393
              )
              
              
              (1,391
              )Net
      decrease in cash and cash equivalents
              
              
              (523
              )
              
              
              (574
              )Cash
      and cash equivalents, beginning of period
              
              
              781
              
              
              
              819Cash
      and cash equivalents, end of period
              
              $
              258
              
              
              $
              245








The
accompanying notes are an integral part of these condensed consolidated
financial statements.


3
 Table of Contents
 RIDGEWOOD
ELECTRIC POWER TRUST IV
 NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 (unaudited,
dollar amounts in thousands)


1.   BASIS
OF PRESENTATION





The
accompanying unaudited condensed consolidated financial statements have been
prepared pursuant to the rules of the United States Securities and Exchange
Commission (the “SEC”). Certain information and footnote disclosures normally
included in consolidated financial statements prepared in accordance with
accounting principles generally accepted in the United States of America have
been condensed or omitted pursuant to SEC rules. These condensed consolidated
financial statements should be read in conjunction with the Ridgewood Electric
Power Trust IV (the “Trust”) Annual Report on Form 10-K for the year ended
December 31, 2007 filed with the SEC on March 21, 2008 (the “2007 Form
10-K”). No significant changes have been made to the Trust’s accounting policies
and estimates disclosed in its 2007 Form 10-K.





In the
opinion of management, the condensed consolidated financial statements as of
March 31, 2008 and for the three months ended March 31, 2008 and 2007, include
all adjustments (consisting of normal recurring accruals) necessary for a fair
presentation of the consolidated financial position, results of operations and
cash flows for the periods presented. The results of operations for the three
months ended March 31, 2008 and 2007 are not necessarily indicative of the
results to be expected for the full year or any other period.





2.   DESCRIPTION
OF BUSINESS





The Trust
is a Delaware trust formed in September 1994. The Trust began offering shares in
February 1995 and concluded its offering in September 1996. The objective of the
Trust is to provide benefits to its shareholders through a combination of
distributions of operating cash flow and capital appreciation. The Managing
Shareholder of the Trust is Ridgewood Renewable Power LLC (“RRP” or the
“Managing Shareholder”). The Trust has been organized to invest primarily in
independent power generation facilities located in the US. The projects owned by
the Trust have characteristics that qualify the projects for government
incentives.





The
Trust’s accompanying condensed consolidated financial statements include the
accounts of the Trust and its majority-owned subsidiaries. The Trust’s condensed
consolidated financial statements also include the Trust’s 50% interest in
Ridgewood Maine Hydro Partners, L.P. (“Maine Hydro”) and its 25% interest in
Ridgewood Indeck Maine Energy, LLC (“Indeck Maine”), which are accounted for
under the equity method of accounting, as the Trust has the ability to exercise
significant influence but does not control the operating and financial policies
of these entities.





The Trust
owns 64.3% interest in Ridgewood Providence Power Partners, L.P. (“Ridgewood
Providence”) and the remaining 35.7% minority interest is owned by Ridgewood
Electric Power Trust III (“Trust III”). The interest of Trust III is presented
as minority interest in the condensed consolidated balance sheets and statements
of operations.





The Managing Shareholder announced that
it intends to market Maine Hydro and Indeck Maine for sale. There can be no
assurance that any such sales will occur. These assets did not meet the
qualifications to be classified as “held for sale” at March 31,
2008.





3.  
RECENT ACCOUNTING PRONOUNCEMENTS





SFAS
157




In
September 2006, the Financial Accounting Standards Board (“FASB”) issued
Statement of Financial Accounting Standard (“SFAS”) No. 157, Fair Value Measurements
(“SFAS 157”), to define fair value, establish a framework for measuring fair
value in accordance with generally accepted accounting principles and expand
disclosures about fair value measurements. SFAS 157 requires quantitative
disclosures using a tabular format in all periods (interim and annual) and
qualitative disclosures about the valuation techniques used to measure fair
value in all annual periods. In February 2008, FASB issued Staff Position 157-2,
Effective Date of FASB Statement No. 157, which delays the effective date
of SFAS 157 for non-financial assets and non-financial liabilities for the
Trust until January 1, 2009, except for items that are recognized or disclosed
at fair value in the financial statements on a recurring basis. The Trust
adopted SFAS 157 for financial assets and financial liabilities effective
January 1, 2008, with no material impact on its condensed consolidated financial
statements.




SFAS
159




In
February 2007, the FASB issued SFAS No. 159, The Fair Value Option for Financial
Assets and Financial Liabilities (“SFAS 159”), which expands
opportunities to use fair value measurements in financial reporting and permits
entities to choose to measure many financial instruments and certain other items
at fair value. The Trust adopted SFAS 159 effective January 1, 2008, with no
material impact on its condensed consolidated financial
statements.


4
 Table of Contents
 RIDGEWOOD
ELECTRIC POWER TRUST IV
 NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 (unaudited,
dollar amounts in thousands)





SFAS
160





In
December 2007, the FASB issued SFAS No. 160, Noncontrolling Interests in
Consolidated Financial Statements — an amendment of ARB No. 51
(“SFAS 160”). SFAS 160 requires that ownership interests in subsidiaries
held by parties other than the parent, and the amount of consolidated net
income, be clearly identified, labeled, and presented in the consolidated
financial statements within equity, but separate from the parent’s equity.
It also requires once a subsidiary is deconsolidated, any retained
noncontrolling equity investment in the former subsidiary be initially measured
at fair value. Sufficient disclosures are required to clearly identify and
distinguish between the interests of the parent and the interests of the
noncontrolling owners. SFAS 160 will become effective for the Trust beginning
January 1, 2009. The Trust is currently evaluating the impact of adopting
SFAS 160 on its condensed consolidated financial statements.





4.   INVESTMENTS





Maine
Hydro





Summarized
statements of operations data for Maine Hydro for the three months ended March
31, 2008 and 2007 were as follows:





March
      31,2008
            
            
            2007Revenues
            
            $
            1,819
            
            
            $
            1,229Gross
      profit
            
            
            1,161
            
            
            
            582Income
      from operations
            
            
            1,073
            
            
            
            456Net
      income
            
            $
            1,073
            
            
            $
            456Trust
      share of income in Maine Hydro
            
            $
            537
            
            
            $
            228






Indeck
Maine





Summarized
statements of operations data for Indeck Maine for the three months ended March
31, 2008 and 2007 were as follows:




March
      31,2008
            
            
            2007Revenues
            
            $
            9,458
            
            
            $
            9,135Gross
      profit
            
            
            522
            
            
            
            1,043Income from
      operations
            
            
            326
            
            
            
            896Net
      (loss) income
            
            $
            (37)
            
            
            $
            531Trust
      share of (loss) income in Indeck Maine
            
            $
            (92)
            
            
            $
            187




5
 Table of Contents
 RIDGEWOOD
ELECTRIC POWER TRUST IV
 NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 (unaudited,
dollar amounts in thousands)


In
accordance with the operating agreement, losses and depreciation have been
allocated to Indeck Energy Services (“IES”) to the extent of it adjusted capital
account balance.  Prior year losses and depreciation, in excess of the
amount allocated to IES, have been allocated equally between the Trust and
Ridgewood Electric Power Trust V (“Trust V”). In addition, profits will be
allocated equally between the Trust and Trust V until the priority return from
operations is received. As of December 31, 2007, the cumulative priority return
was $26,500.





The Trust
assigned the excess purchase price over the net assets acquired to fixed assets.
The Trust depreciates the fixed assets over their remaining useful lives using
the unit of production method.  Depreciation expense of $73 and $78
for the three months ended March 31, 2008 and 2007, respectively, was included
in the equity (loss) income from Indeck Maine in the condensed consolidated
statements of operations.





5.   COMMITMENTS AND
CONTINGENCIES





Ridgewood
Providence and several of its affiliates have an agreement with a power marketer
for which they are committed to sell a portion of their Renewable Portfolio
Standards Attributes (“RPS Attributes”) derived from their electric generation.
The agreement provides such power marketer with six separate annual options to
purchase such RPS Attributes from 2004 through 2009 at fixed prices, as defined.
If Ridgewood Providence and its affiliates fail to supply the required
number of RPS Attributes, penalties may be imposed. In accordance with the terms
of the agreement, if the power marketer elects to exercise an annual option and
Ridgewood Providence and its affiliates produce no renewable attributes for such
option year, Ridgewood Providence and its affiliates face a maximum penalty,
which is adjusted annually for the change in the consumer price index, among
other things, of up to approximately $3,800, measured using factors in
effect at December 31, 2007, for that option year and any other year in which an
option has been exercised and insufficient renewable attributes have been
produced. Pursuant to the agreement, Ridgewood Providence and Indeck Maine are
liable for 8% and 70% of the total penalty, respectively, but may be liable up
to 100% in the event of default its affiliates. In the fourth quarter of 2007,
the power marketer notified Ridgewood Providence and its affiliates that
it has elected to purchase the output for 2008 as specified in the
agreement. As of March 31, 2008 and 2007, Ridgewood Providence and Indeck
Maine satisfied and delivered RPS Attributes as prescribed in the agreements and
therefore no penalties were incurred.





On August
16, 2006, the Managing Shareholder of the Trust and affiliates of the Trust
filed lawsuits against the former independent registered public accounting firm
for the Trust, Perelson Weiner, LLP (“Perelson Weiner”), in New Jersey Superior
Court. The suits alleged professional malpractice and breach of contract in
connection with audit and accounting services performed by Perelson Weiner. On
October 20, 2006, Perelson Weiner filed a counterclaim against the Trust and its
affiliates alleging breach of contract due to unpaid invoices totaling $1,188.
Discovery is ongoing and no trial date has been set. The costs and expenses of
the litigation are being paid for by the Managing Shareholder and affiliated
management companies and not the underlying investment funds, including the
Trust.





The Trust
is subject to legal proceedings involving ordinary and routine claims related to
its business. The ultimate legal and financial liability with respect to
such matters cannot be estimated with certainty and requires the use of
estimates in recording liabilities for potential litigation settlements.
Estimates for losses from litigation are disclosed if considered reasonably
possible and accrued if considered probable after consultation with outside
counsel. If estimates of potential losses increase or the related facts and
circumstances change in the future, the Trust may be required to record
additional litigation expense. While it is not possible to predict the
outcome of the litigation discussed above with certainty and some lawsuits,
claims or proceedings may be disposed of unfavorably to the Trust, based on its
evaluation of matters which are pending or asserted, the Trust’s management
believes the disposition of such matters will not have a material adverse effect
on the Trust’s business or its financial statements.




6
 Table of Contents




ITEM
2.   MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS




The
purpose of this discussion and analysis of the operating results and financial
condition as of March 31, 2008 is intended to help readers analyze the
accompanying condensed consolidated financial statements, notes and other
supplemental information contained in this document.  Results of
operations for the three months ended March 31, 2008 are not necessarily
indicative of results to be attained for any other period. This discussion
and analysis should be read in conjunction with the accompanying condensed
consolidated financial statements, notes and other supplemental information
included elsewhere in this report and Item 7. “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” of the Trust’s 2007
Form 10-K.





Forward-Looking
Statements




Certain
statements discussed in this item and elsewhere in this Quarterly Report on Form
10-Q constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
generally relate to the Trust’s plans, objectives and expectations for future
events and include statements about the Trust’s expectations, beliefs, plans,
objectives, intentions, assumptions and other statements that are not historical
facts. These statements are based upon management’s opinions and estimates
as of the date they are made. Although management believes that the expectations
reflected in these forward-looking statements are reasonable, such
forward-looking statements are subject to known and unknown risks and
uncertainties that may be beyond the Trust’s control, which could cause actual
results, performance and achievements to differ materially from the results,
performance and achievements projected, expected, expressed or implied by the
forward-looking statements. Examples of events that could cause actual results
to differ materially from historical results or those anticipated include the
outcome of the litigation described in Part I, Item 1, Note 5. “Commitments
and Contingencies” of this report, changes in political and economic conditions,
federal or state regulatory structures, government mandates, the ability of
customers to pay for energy received, supplies and prices of fuels, operational
status of generating plants, mechanical breakdowns, volatility in the price for
electric energy, natural gas or renewable energy. Additional information
concerning the factors that could cause actual results to differ materially from
those in the forward-looking statements is contained in Item 1A. “Risk
Factors” and  Item 7. “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” of the Trust’s 2007 Form 10-K.
The Trust undertakes no obligation to publicly revise any forward-looking
statements or cautionary factors, except as required by law.





Critical
Accounting Policies and Estimates





The
following discussion and analysis of the Trust’s financial condition and
operating results is based on its condensed consolidated financial
statements.  The preparation of this Quarterly Report on Form 10-Q
requires the Trust to make estimates and assumptions that affect the reported
amount of assets and liabilities, disclosure of contingent assets and
liabilities at the date of the Trust’s condensed consolidated financial
statements, and the reported amount of revenue and expenses during the reporting
period. Actual results may differ from those estimates and
assumptions.  No material changes have been made to the Trust’s
critical accounting policies and estimates disclosed in its 2007 Form
10-K.




Results
of Operations and Changes in Financial Condition





Three
months ended March 31, 2008 compared to the three months ended March 31,
2007





The Trust
recorded revenues of $3.3 million in the first quarter of 2008 which was
comparable to the same period in 2007.  Power generation revenue
increased by $0.1 million, or 6.9%, from $1.9 million in the first quarter of
2007 to $2 million for the same period in 2008 primarily due to a slight
increase in electricity production. This increase was offset by a decrease in
sublease revenue of $0.1 million in the first quarter of 2008 due to the
termination of the sublease agreement with Central Gas Limited Partnership
effective December 31, 2007.





Cost of
revenues increased $0.1 million, or 3.8%, from $2.4 million in the first quarter
of 2007 to $2.5 million for the same period in 2008. This increase was primarily
attributable to higher overhead and insurance expenses in the 2008
period.





Gross
profit decreased $0.1 million, or 12.3%, from gross profit of $0.9 million in
the first quarter of 2007 to $0.8 million for the same period in 2008 due to an
increase in the cost of revenues.





General
and administrative expenses increased approximately $0.7 million from $0.1
million in the first quarter of 2007 to $0.8 million for the same period in
2008. This increase was primarily attributable to higher professional
fees.





In the
first quarter of 2008, the Trust recorded equity income of $0.5 million from its
investment in Maine Hydro compared to equity income of $0.2 million for the same
period in 2007. The increase in equity income of $0.3 million was primarily the
result of increased revenues from higher production in the first quarter of 2008
as compared to the first quarter of 2007.




7
 Table of Contents





In the
first quarter of 2008, the Trust recorded equity loss of $0.1 million from its
investment in Indeck Maine compared to equity income of $0.2 million for the
same period in 2007. The decrease in equity income of $0.3 million in the 2008
period was primarily attributable to an increase in repairs and
maintenance expenses, partially offset by increased revenue resulting from
higher production.





Minority
interest in the earnings of subsidiaries decreased $0.1 million, from earnings
of $0.3 million in the first quarter of 2007 to $0.2 million for the same period
in 2008. This was due to a decrease in the net earnings of Ridgewood
Providence in the first quarter of 2008 as compared to the same period in
2007.





Total
assets at March 31, 2008 were $22.8 million, a decrease of approximately $0.3
million from the December 31, 2007 balance of $23.1 million. This decrease
was primarily due to decreases of $0.5 million in cash and cash equivalents,
$0.2 million in plant and equipment and $0.2 million in intangibles, partially
offset by increases of approximately $0.5 million in investments and $0.1
million in notes receivable, affiliates.  Total liabilities decreased
by $0.5 million from $5.5 million at December 31, 2007 to $5 million at March
31, 2008. This decrease was primarily due to decreases of approximately
$0.3 million in due to affiliates and $0.2 million in minority
interest.





Liquidity
and Capital Resources





Three
months ended March 31, 2008 compared to the three months ended March 31,
2007





At March
31, 2008, the Trust had cash and cash equivalents of $0.3 million, a
decrease of $0.5 million from $0.8 million at December 31, 2007. The cash flows
for the three months ended March 31, 2008 were $0.1 million used in operating
activities and $0.4 million used in financing activities.





In the
first quarter of 2008, the Trust’s operating activities used cash of $0.1
million, as compared to cash provided of $0.8 million for the same period in
2007.  The decrease in cash provided by operating activities of $0.9
million in the 2008 period was primarily due to decreased cash
distributions from Maine Hydro, offset by increases in accounts payable and
accrued expenses.





In the
first quarter of 2008, the Trust used cash of $0.4 million in financing
activities for cash distributions to minority interest.  In the first
quarter of 2007, the Trust used cash of $1.4 million in financing activities, as
a result of $1 million and $0.4 million used for cash distributions to
shareholders and minority interest, respectively.





Future
Liquidity and Capital Resource Requirements





The Trust
expects cash flows from operating activities, along with existing cash, cash
equivalents and borrowing capabilities will be sufficient to provide working
capital and fund capital expenditures for the next 12 months.





Off-Balance
Sheet Arrangements and Contractual Obligations and Commitments





There
have been no material changes in the off-balance sheet arrangements and
contractual obligations and commitments disclosed in the Trust’s 2007 Form
10-K.





ITEM
3.   QUANTITATIVE AND QUALITATIVE DISCLOSURES
ABOUT MARKET RISK




Not
required.




ITEM
4.   CONTROLS AND PROCEDURES




In
accordance with Rule 13a-15(b) of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), the Trust’s Chief Executive Officer and Chief
Financial Officer evaluate the effectiveness of the Trust’s disclosure controls
and procedures, as defined in Exchange Act Rule 13a-15(e). A system of
disclosure controls and procedures is designed to ensure that information
required to be disclosed by a registrant in reports filed with the Exchange Act
are recorded, processed, summarized and reported within the time periods
specified in the applicable rules and forms.  This includes disclosure
controls and procedures designed to ensure that information required to be
disclosed by a registrant is accumulated and communicated to senior management
so as to allow timely decisions regarding required disclosure. A review and
evaluation of the effectiveness of these controls and procedures was done by the
Trust’s Chief Executive Officer and Chief Financial Officer as of March 31,
2008.




Based on
such review and evaluation, the Trust’s Chief Executive Officer and Chief
Financial Officer concluded that the Trust’s disclosure controls and
procedures are effective as of the end of the period covered by this
report.




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Changes
in Internal Control over Financial Reporting




The
Trust’s Chief Executive Officer and Chief Financial Officer have concluded that
there was no change in the Trust's internal control over financial reporting (as
such term is defined in Rule 13a-15(f) under the Exchange Act) that occurred
during the quarter ended March 31, 2008 that has materially affected, or is
reasonably likely to materially affect, the Trust’s internal control over
financial reporting.





PART
II.   OTHER INFORMATION





ITEM
1.   LEGAL PROCEEDINGS





There
have been no material changes to the legal proceedings disclosed in the Trust’s
2007 Form 10-K.





ITEM
1A.   RISK FACTORS





There
have been no material changes to the risk factors disclosed in the Trust’s 2007
Form 10-K.





ITEM
2.   UNREGISTERED SALES OF EQUITY SECURITIES AND
USE OF PROCEEDS





None.




ITEM
3.   DEFAULTS UPON SENIOR
SECURITIES





None.





ITEM
4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY
HOLDERS





None.





ITEM
5.   OTHER INFORMATION





None.





ITEM
6.   EXHIBITS





Exhibit
      No.
            
            
            Description31.1
            *
            
            Certification
      of Randall D. Holmes, Chief Executive Officer of the Registrant, pursuant
      to Securities Exchange Act Rule 13a-14(a).31.2
            *
            
            Certification
      of Jeffrey H. Strasberg, Chief Financial Officer of the Registrant,
      pursuant to Securities Exchange Act Rule 13a-14(a).32
            *
            
            Certifications
      pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of
      The Sarbanes-Oxley Act of 2002, signed by Randall D. Holmes, Chief
      Executive Officer of the Registrant, and Jeffrey H. Strasberg, Chief
      Financial Officer of the
Registrant.





*           Filed
herewith.




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SIGNATURES





Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.






RIDGEWOOD ELECTRIC
      POWER TRUST IVDate:
      May 9, 2008
            By:
            /s/ 
      Randall D. HolmesRandall
      D. HolmesPresident
      and  Chief Executive Officer(Principal
      Executive Officer)






Date:
      May 9, 2008
            By:
            /s/ 
      Jeffrey H. StrasbergJeffrey
      H. StrasbergExecutive
      Vice President and Chief Financial Officer(Principal
      Financial and Accounting Officer)










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