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

|                             |   | Number of Record Holders |
|----------------------------------|--------|--------------------------|
| Title of Class                   |   | as of March 31, 2010     |
| Beneficial Assignee Certificates |   | 2,010                    |
| General Partner Interest         |   |     2     |

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

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

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

----

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

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

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

----

----

----

| SERIES 2                                                                                                               |   |                 |   |       |   |          |   |                    |   |           |
|------------------------------------------------------------------------------------------------------------------------|--------|----------------------|--------|------------|--------|---------------|--------|-------------------------|--------|----------------|
| PARTNERSHIP                                                                                                            |   | LOCATION OF PROPERTY |   | # OF UNITS |   | DATE ACQUIRED |   | PROPERTY COST           |   | OCCUPANCY RATE |
|                                                                                                                   |   |                 |   |       |
|                                                                                                                   |   |                 |   |       |   |          |   |                    |   |           |
| Deerfield II                                                                                                           |   | Douglas, GA          |   | 24         |   | 9/90          |   | 854,562                 |   | 92%            |
| Hartwell Family                                                                                                        |   | Hartwell, GA         |   | 24         |   | 9/90          |   | 859,698                 |   | 75%            |
| Cherrytree Apts.                                                                                                       |   | Albion, PA           |   | 33         |   | 9/90          |   | 1,486,443               |   | 91%            |
| Springwood Apts.                                                                                                       |   | Westfield, NY        |   | 32         |   | 9/90          |   | 1,585,632               |   | 88%            |
| Pearson Elderly                                                                                                        |   | Pearson, GA          |   | 25         |   | 9/90          |   | 781,460                 |   | 100%           |
| Richland Elderly                                                                                                       |   | Richland, GA         |   | 34         |   | 9/90          |   | 1,057,871               |   | 100%           |
| Woodland Terrace                                                                                                       |   | Waynesboro, GA       |   | 30         |   | 9/90          |   | 1,081,564               |   | 97%            |
| Mt. Vernon Elderly                                                                                                     |   | Mt. Vernon, GA       |   | 21         |   | 9/90          |   | 700,935                 |   | 90%            |
| Lakeland Elderly                                                                                                       |   | Lakeland, GA         |   | 29         |   | 9/90          |   | 955,815                 |   | 97%            |
| Manchester Housing                                                                                                     |   | Manchester, GA       |   | 49         |   | 1/91          |   | 1,781,372               |   | 98%            |
| Durango C.W.W.                                                                                                         |   | Durango, CO          |   | 24         |   | 1/91          |   | 1,452,154               |   | 96%            |
| Columbus Seniors                                                                                                       |   | Columbus, KS         |   | 16         |   | 5/92          |   | 582,967                 |   | 100%           |
|                                                                                                                   |   |                 |   |       |   |          |   |                    |   |           |
| Total Series 2                                                                                                         |   |                 |   | 341        |   |          |   | $  13,180,473 |   |           |
|                                                                                                                   |   |                 |   |       |   |          |   |                    |   |           |
| The average effective rental income per unit for the year ended December 31, 2009 is $4,531 per year ($378 per month). |

| SERIES 3                                                                                                               |   |                 |   |       |   |          |   |                    |   |           |
|------------------------------------------------------------------------------------------------------------------------|--------|----------------------|--------|------------|--------|---------------|--------|-------------------------|--------|----------------|
| PARTNERSHIP                                                                                                            |   | LOCATION OF PROPERTY |   | # OF UNITS |   | DATE ACQUIRED |   | PROPERTY COST           |   | OCCUPANCY RATE |
|                                                                                                                   |   |                 |   |       |
|                                                                                                                   |   |                 |   |       |   |          |   |                    |   |           |
| Poteau II                                                                                                              |   | Poteau, OK           |   | 52         |   | 8/90          |   | 1,789,148               |   | 77%            |
| Sallisaw                                                                                                               |   | Sallisaw, OK         |   | 52         |   | 8/90          |   | 1,744,103               |   | 90%            |
| Nowata Properties                                                                                                      |   | Oolagah, OK          |   | 32         |   | 8/90          |   | 1,148,484               |   | 66%            |
| Waldron Properties                                                                                                     |   | Waldron, AR          |   | 24         |   | 9/90          |   | 860,273                 |   | 100%           |
| Roland II                                                                                                              |   | Roland, OK           |   | 52         |   | 10/90         |   | 1,804,010               |   | 92%            |
| Stilwell                                                                                                               |   | Stilwell, OK         |   | 48         |   | 10/90         |   | 1,597,701               |   | 69%            |
| Hornellsville                                                                                                          |   | Arkport, NY          |   | 24         |   | 9/90          |   | 1,188,883               |   | 96%            |
| CE McKinley II                                                                                                         |   | Rising Sun, MD       |   | 16         |   | 9/90          |   | 883,829                 |   | 100%           |
| Weston Apartments                                                                                                      |   | Weston, AL           |   | 10         |   | 11/90         |   | 363,467                 |   | 100%           |
| Countrywood Apts.                                                                                                      |   | Centreville, AL      |   | 40         |   | 11/90         |   | 1,643,039               |   | 100%           |
| Wildwood Apts.                                                                                                         |   | Pineville, LA        |   | 28         |   | 11/90         |   | 1,136,139               |   | 96%            |
| Hancock                                                                                                                |   | Hawesville, KY       |   | 12         |   | 12/90         |   | 440,425                 |   | 100%           |
| Hopkins                                                                                                                |   | Madisonville, KY     |   | 24         |   | 12/90         |   | 927,256                 |   | 96%            |
| Elkhart Apts.                                                                                                          |   | Elkhart, TX          |   | 54         |   | 1/91          |   | 1,758,083               |   | 98%            |
| Heritage Villas                                                                                                        |   | Helena, GA           |   | 25         |   | 3/91          |   | 824,759                 |   | 92%            |
|                                                                                                                   |   |                 |   |       |   |          |   |                    |   |           |
| Total Series 3                                                                                                         |   |                 |   | 493        |   |          |   | $  18,109,599 |   |           |
|                                                                                                                   |   |                 |   |       |   |          |   |                    |   |           |
| The average effective rental income per unit for the year ended December 31, 2009 is $4,143 per year ($345 per month). |

----

| SERIES 4                                                                                                               |   |                 |   |       |   |          |   |                               |   |           |
|------------------------------------------------------------------------------------------------------------------------|--------|----------------------|--------|------------|--------|---------------|--------|------------------------------------|--------|----------------|
| PARTNERSHIP                                                                                                            |   | LOCATION OF PROPERTY |   | # OF UNITS |   | DATE ACQUIRED |   | PROPERTY COST                      |   | OCCUPANCY RATE |
|                                                                                                                   |   |                 |   |       |
|                                                                                                                   |   |                 |   |       |   |          |   |                               |   |           |
| Seneca Apartments                                                                                                      |   | Seneca, MO           |   | 24         |   | 2/91          |   | 851,577                            |   | 96%            |
| Westville                                                                                                              |   | Westville, OK        |   | 36         |   | 3/91          |   | 1,101,686                          |   | 97%            |
| Wellsville Senior                                                                                                      |   | Wellsville, KS       |   | 24         |   | 3/91          |   | 812,002                            |   | 92%            |
| Stilwell II                                                                                                            |   | Stilwell, OK         |   | 52         |   | 3/91          |   | 1,657,974                          |   | 75%            |
| Spring Hill Senior                                                                                                     |   | Spring Hill, KS      |   | 24         |   | 3/91          |   | 1,036,369                          |   | 100%           |
| Wynnwood Common                                                                                                        |   | Fairchance, PA       |   | 34         |   | 4/91          |   | 1,730,372                          |   | 100%           |
| Courtyard                                                                                                              |   | Huron, SD            |   | 21         |   | 6/91          |   | 912,670                            |   | 95%            |
| Piedmont                                                                                                               |   | Barnesville, GA      |   | 36         |   | 8/91          |   | 1,289,047                          |   | 81%            |
| S.F. Arkansas City                                                                                                     |   | Arkansas City, KS    |   | 12         |   | 8/91          |   | 412,028                            |   | 92%            |
|                                                                                                                   |   |                 |   |       |   |          |   |                               |   |           |
| Total Series 4                                                                                                         |   |                 |   | 263        |   |          |   | $    9,803,725 |   |           |
|                                                                                                                   |   |                 |   |       |   |          |   |                               |   |           |
| The average effective rental income per unit for the year ended December 31, 2009 is $4,421 per year ($368 per month). |

| SERIES 5                                                                                                               |   |                 |   |       |   |          |   |                    |   |           |
|------------------------------------------------------------------------------------------------------------------------|--------|----------------------|--------|------------|--------|---------------|--------|-------------------------|--------|----------------|
| PARTNERSHIP                                                                                                            |   | LOCATION OF PROPERTY |   | # OF UNITS |   | DATE ACQUIRED |   | PROPERTY COST           |   | OCCUPANCY RATE |
|                                                                                                                   |   |                 |   |       |
|                                                                                                                   |   |                 |   |       |   |          |   |                    |   |           |
| S.F. Winfield                                                                                                          |   | Winfield, KS         |   | 12         |   | 8/91          |   | 402,402                 |   | 83%            |
| S.F.Medicine Lodge                                                                                                     |   | Medicine Lodge, KS   |   | 16         |   | 8/91          |   | 574,565                 |   | 100%           |
| S.F. Ottawa                                                                                                            |   | Ottawa, KS           |   | 24         |   | 8/91          |   | 736,765                 |   | 92%            |
| S.F. Concordia                                                                                                         |   | Concordia, KS        |   | 20         |   | 8/91          |   | 697,372                 |   | 70%            |
| Carrollton Club                                                                                                        |   | Carrollton, GA       |   | 78         |   | 9/91          |   | 3,217,901               |   | 91%            |
| Scarlett Oaks                                                                                                          |   | Lexington, SC        |   | 40         |   | 9/91          |   | 1,691,500               |   | 98%            |
| Brooks Hill                                                                                                            |   | Ellijay, GA          |   | 44         |   | 9/91          |   | 1,771,618               |   | 95%            |
| Greensboro                                                                                                             |   | Greensboro, GA       |   | 24         |   | 9/91          |   | 866,259                 |   | 92%            |
| Greensboro II                                                                                                          |   | Greensboro, GA       |   | 32         |   | 9/91          |   | 1,088,664               |   | 100%           |
| Crawford                                                                                                               |   | Crawford, GA         |   | 25         |   | 9/91          |   | 907,712                 |   | 96%            |
| Yorkshire                                                                                                              |   | Wagoner, OK          |   | 60         |   | 9/91          |   | 2,665,552               |   | 92%            |
| Clayton                                                                                                                |   | Clayton, OK          |   | 24         |   | 9/91          |   | 871,530                 |   | 96%            |
| Alma                                                                                                                   |   | Alma, AR             |   | 24         |   | 9/91          |   | 957,710                 |   | 100%           |
| Spring Hill                                                                                                            |   | Spring Hill, KS      |   | 36         |   | 9/91          |   | 1,449,378               |   | 97%            |
| Menard Retirement                                                                                                      |   | Menard, TX           |   | 24         |   | 9/91          |   | 795,318                 |   | 92%            |
| Wallis Housing                                                                                                         |   | Wallis, TX           |   | 24         |   | 9/91          |   | 578,333                 |   | 83%            |
| Mill Creek                                                                                                             |   | Grove, OK            |   | 60         |   | 11/91         |   | 1,741,669               |   | 100%           |
| Cloverdale                                                                                                             |   | Cloverdale, IN       |   | 24         |   | 1/92          |   | 1,035,113               |   | 96%            |
| So. Timber Ridge                                                                                                       |   | Chandler, TX         |   | 44         |   | 1/92          |   | 1,389,759               |   | 95%            |
| Pineville                                                                                                              |   | Pineville, MO        |   | 12         |   | 5/92          |   | 444,017                 |   | 83%            |
| Ravenwood                                                                                                              |   | Americus, GA         |   | 24         |   | 1/94          |   | 900,996                 |   | 96%            |
|                                                                                                                   |   |                 |   |       |   |          |   |                    |   |           |
| Total Series 5                                                                                                         |   |                 |   | 671        |   |          |   | $  24,784,133 |   |           |
|                                                                                                                   |   |                 |   |       |   |          |   |                    |   |           |
| The average effective rental income per unit for the year ended December 31, 2009 is $4,635 per year ($386 per month). |

----

| SERIES 6                                                                                                               |   |                 |   |       |   |          |   |                    |   |           |
|------------------------------------------------------------------------------------------------------------------------|--------|----------------------|--------|------------|--------|---------------|--------|-------------------------|--------|----------------|
| PARTNERSHIP                                                                                                            |   | LOCATION OF PROPERTY |   | # OF UNITS |   | DATE ACQUIRED |   | PROPERTY COST           |   | OCCUPANCY RATE |
|                                                                                                                   |   |                 |   |       |
|                                                                                                                   |   |                 |   |       |   |          |   |                    |   |           |
| Carthage                                                                                                               |   | Carthage, MO         |   | 24         |   | 1/92          |   | 837,205                 |   | 100%           |
| Coal City                                                                                                              |   | Coal City, IL        |   | 24         |   | 3/92          |   | 1,230,424               |   | 92%            |
| Frazer Place                                                                                                           |   | Smyrna, DE           |   | 30         |   | 4/92          |   | 1,681,564               |   | 97%            |
| Ehrhardt                                                                                                               |   | Ehrhardt, SC         |   | 16         |   | 4/92          |   | 723,569                 |   | 94%            |
| Sinton                                                                                                                 |   | Sinton, TX           |   | 32         |   | 4/92          |   | 1,053,980               |   | 97%            |
| Frankston                                                                                                              |   | Frankston, TX        |   | 24         |   | 4/92          |   | 676,931                 |   | 92%            |
| Flagler Beach                                                                                                          |   | Flagler Beach, FL    |   | 43         |   | 5/92          |   | 1,718,676               |   | 98%            |
| Oak Ridge                                                                                                              |   | Williamsburg, KY     |   | 24         |   | 5/92          |   | 1,098,954               |   | 96%            |
| Monett                                                                                                                 |   | Monett, MO           |   | 32         |   | 5/92          |   | 1,063,651               |   | 100%           |
| Arma                                                                                                                   |   | Arma, KS             |   | 28         |   | 5/92          |   | 978,000                 |   | 96%            |
| Southwest City                                                                                                         |   | Southwest City, MO   |   | 12         |   | 5/92          |   | 458,001                 |   | 100%           |
| Meadowcrest                                                                                                            |   | Luverne, AL          |   | 32         |   | 6/92          |   | 1,251,264               |   | 97%            |
| Parsons                                                                                                                |   | Parsons, KS          |   | 48         |   | 7/92          |   | 1,532,968               |   | 100%           |
| Goodwater Falls                                                                                                        |   | Jenkins, KY          |   | 36         |   | 7/92          |   | 1,329,147               |   | 100%           |
| Northfield Station                                                                                                     |   | Corbin, KY           |   | 24         |   | 7/92          |   | 971,044                 |   | 92%            |
| Pleasant Hill                                                                                                          |   | Somerset, KY         |   | 24         |   | 7/92          |   | 906,672                 |   | 88%            |
| Heritage Drive So.                                                                                                     |   | Jacksonville, TX     |   | 40         |   | 1/92          |   | 1,303,538               |   | 98%            |
| Brodhead                                                                                                               |   | Brodhead, KY         |   | 24         |   | 7/92          |   | 1,011,142               |   | 100%           |
| Mt. Village                                                                                                            |   | Mt. Vernon, KY       |   | 24         |   | 7/92          |   | 977,483                 |   | 100%           |
| Hazlehurst                                                                                                             |   | Hazlehurst, MS       |   | 32         |   | 8/92          |   | 1,228,475               |   | 100%           |
| Sunrise                                                                                                                |   | Yankton, SD          |   | 33         |   | 8/92          |   | 1,524,321               |   | 88%            |
| Stony Creek                                                                                                            |   | Hooversville, PA     |   | 32         |   | 8/92          |   | 1,667,523               |   | 94%            |
| Logan Place                                                                                                            |   | Logan, OH            |   | 40         |   | 9/92          |   | 1,526,912               |   | 83%            |
| Haines                                                                                                                 |   | Haines, AK           |   | 32         |   | 8/92          |   | 3,187,898               |   | 94%            |
| Maple Wood                                                                                                             |   | Barbourville, KY     |   | 24         |   | 8/92          |   | 1,039,790               |   | 100%           |
| Summerhill                                                                                                             |   | Gassville, AR        |   | 28         |   | 9/92          |   | 1,319,786               |   | 96%            |
| Dorchester                                                                                                             |   | St. George, SC       |   | 12         |   | 9/92          |   | 560,826                 |   | 100%           |
| Lancaster                                                                                                              |   | Mountain View, AR    |   | 33         |   | 9/92          |   | 1,388,499               |   | 94%            |
| Dawson                                                                                                                 |   | Dawson, GA           |   | 40         |   | 11/93         |   | 1,474,973               |   | 100%           |
|                                                                                                                   |   |                 |   |       |   |          |   |                    |   |           |
| Total Series 6                                                                                                         |   |                 |   | 847        |   |          |   | $  35,723,216 |   |           |
|                                                                                                                   |   |                 |   |       |   |          |   |                    |   |           |
| The average effective rental income per unit for the year ended December 31, 2009 is $4,799 per year ($400 per month). |

----

|                         |   |   | 12/31/2009                                                                     |
|------------------------------|--------|--------|--------------------------------------------------------------------------------|
|                         |   |   | SERIES 2                                                                       |   |   | SERIES 3 |   |   | SERIES 4 |
| Land                         |   | $      | 463,700                                                                        |   | $ | 592,050 |   | $ | 303,212 |
| Land Improvements            |   |   | 84,218                                                                         |   |   | 13,890 |   |   | 74,183 |
| Buildings                    |   |   | 12,112,191                                                                     |   |   | 16,397,399 |   |   | 8,842,633 |
| Furniture and Fixtures       |   |   | 519,314                                                                        |   |   | 1,106,260 |   |   | 583,697 |
| Construction in Process      |   |   | 1,050                                                                          |   |   | 0 |   |   | 0 |
|                         |   |   |                                                                           |   |   |   |   |   |   |
| Properties, at Cost          |   |   | 13,180,473                                                                     |   |   | 18,109,599 |   |   | 9,803,725 |
| Less:  Accum Depr. |   |   | 7,612,629                                                                      |   |   | 13,678,368 |   |   | 6,139,948 |
|                         |   |   |                                                                           |   |   |   |   |   |   |
| Properties, Net              |   | $      | 5,567,844                                                                      |   | $ | 4,431,231 |   | $ | 3,663,777 |
|                         |   |   |                                                                           |   |   |   |   |   |   |
|                         |   |   | SERIES 5                                                                       |   |   | SERIES 6 |   |   | TOTAL |
| Land                         |   | $      |           925,074            |   | $ |        1,440,621 |   | $ | 3,724,657 |
| Land Improvements            |   |   |             85,638 |   |   |           438,321 |   |   | 696,250 |
| Buildings                    |   |   |      22,649,364                                       |   |   |      32,206,053 |   |   | 92,207,640 |
| Furniture and Fixtures       |   |   |        1,124,057                            |   |   |        1,638,221 |   |   | 4,971,549 |
| Construction in Process      |   |   | 0                                                                              |   |   | 0 |   |   | 1,050 |
|                         |   |   |                                                                           |   |   |   |   |   |   |
| Properties, at Cost          |   |   | 24,784,133                                                                     |   |   | 35,723,216 |   |   | 101,601,146 |
| Less:  Accum Depr. |   |   | 14,679,740                                                                     |   |   | 18,441,720 |   |   | 60,552,405 |
|                         |   |   |                                                                           |   |   |   |   |   |   |
| Properties, Net              |   | $      | 10,104,393                                                                     |   | $ | 17,281,496 |   | $ | 41,048,741 |

|                         |   |   | 12/31/2008                                                                     |
|------------------------------|--------|--------|--------------------------------------------------------------------------------|
|                         |   |   | SERIES 2                                                                       |   |   | SERIES 3 |   |   | SERIES 4 |
| Land                         |   | $      | 644,180                                                                        |   | $ | 592,050 |   | $ | 331,212 |
| Land Improvements            |   |   | 73,736                                                                         |   |   | 4,190 |   |   | 123,187 |
| Buildings                    |   |   | 18,519,919                                                                     |   |   | 16,347,352 |   |   | 9,716,811 |
| Furniture and Fixtures       |   |   | 703,597                                                                        |   |   | 1,071,309 |   |   | 597,195 |
| Construction in Process      |   |   | 1,050                                                                          |   |   | 0 |   |   | 0 |
|                         |   |   |                                                                           |   |   |   |   |   |   |
| Properties, at Cost          |   |   | 19,942,482                                                                     |   |   | 18,014,901 |   |   | 10,768,405 |
| Less:  Accum Depr. |   |   | 11,263,643                                                                     |   |   | 13,026,461 |   |   | 6,452,311 |
|                         |   |   |                                                                           |   |   |   |   |   |   |
| Properties, Net              |   | $      | 8,678,839                                                                      |   | $ | 4,988,440 |   | $ | 4,316,094 |
|                         |   |   |                                                                           |   |   |   |   |   |   |
|                         |   |   | SERIES 5                                                                       |   |   | SERIES 6 |   |   | TOTAL |
| Land                         |   | $      |        1,229,274                            |   | $ |        1,440,621 |   | $ | 4,237,337 |
| Land Improvements            |   |   |             85,638 |   |   |           456,568 |   |   | 743,319 |
| Buildings                    |   |   |      30,656,751                                       |   |   |      32,055,443 |   |   | 107,296,276 |
| Furniture and Fixtures       |   |   |        1,429,941                            |   |   |        1,572,485 |   |   | 5,374,527 |
| Construction in Process      |   |   | 0                                                                              |   |   | 0 |   |   | 1,050 |
|                         |   |   |                                                                           |   |   |   |   |   |   |
| Properties, at Cost          |   |   | 33,401,604                                                                     |   |   | 35,525,117 |   |   | 117,652,509 |
| Less:  Accum Depr. |   |   | 18,621,856                                                                     |   |   | 17,375,761 |   |   | 66,740,032 |
|                         |   |   |                                                                           |   |   |   |   |   |   |
| Properties, Net              |   | $      | 14,779,748                                                                     |   | $ | 18,149,356 |   | $ | 50,912,477 |

----

|                         |   |   | 12/31/2007                                                                     |
|------------------------------|--------|--------|--------------------------------------------------------------------------------|
|                         |   |   | SERIES 2                                                                       |   |   | SERIES 3 |   |   | SERIES 4 |
| Land                         |   | $      | 656,680                                                                        |   | $ | 592,050 |   | $ | 637,012 |
| Land Improvements            |   |   | 171,440                                                                        |   |   | 4,190 |   |   | 117,388 |
| Buildings                    |   |   | 19,577,352                                                                     |   |   | 16,337,565 |   |   | 15,880,793 |
| Furniture and Fixtures       |   |   | 949,809                                                                        |   |   | 1,037,023 |   |   | 1,116,367 |
| Construction in Process      |   |   | 1,050                                                                          |   |   | 0 |   |   | 0 |
|                         |   |   |                                                                           |   |   |   |   |   |   |
| Properties, at Cost          |   |   | 21,356,331                                                                     |   |   | 17,970,828 |   |   | 17,751,560 |
| Less:  Accum Depr. |   |   | 11,322,241                                                                     |   |   | 12,377,887 |   |   | 10,348,451 |
|                         |   |   |                                                                           |   |   |   |   |   |   |
| Properties, Net              |   | $      | 10,034,090                                                                     |   | $ | 5,592,941 |   | $ | 7,403,109 |
|                         |   |   |                                                                           |   |   |   |   |   |   |
|                         |   |   | SERIES 5                                                                       |   |   | SERIES 6 |   |   | TOTAL |
| Land                         |   | $      |        1,229,274                            |   | $ |        1,668,141 |   | $ | 4,783,157 |
| Land Improvements            |   |   |             85,638 |   |   |           597,680 |   |   | 976,336 |
| Buildings                    |   |   |      30,650,941                                       |   |   |      38,266,608 |   |   | 120,713,259 |
| Furniture and Fixtures       |   |   |        1,409,009                            |   |   |        2,367,292 |   |   | 6,879,500 |
| Construction in Process      |   |   | 0                                                                              |   |   | 3,200 |   |   | 4,250 |
|                         |   |   |                                                                           |   |   |   |   |   |   |
| Properties, at Cost          |   |   | 33,374,862                                                                     |   |   | 42,902,921 |   |   | 133,356,502 |
| Less:  Accum Depr. |   |   | 17,555,792                                                                     |   |   | 19,982,823 |   |   | 71,587,194 |
|                         |   |   |                                                                           |   |   |   |   |   |   |
| Properties, Net              |   | $      | 15,819,070                                                                     |   | $ | 22,920,098 |   | $ | 61,769,308 |

----

|                             |   | Number of Record Holders |
|----------------------------------|--------|--------------------------|
| Title of Class                   |   | as of March 31, 2010     |
| Beneficial Assignee Certificates |   | 2,010                    |
| General Partner Interest         |   | 2                        |

| SERIES 2                               | 2010                            |   | 2009                            |   | 2008                            |   | 2007                            |   | 2006                                       |
|----------------------------------------|---------------------------------|--------|---------------------------------|--------|---------------------------------|--------|---------------------------------|--------|--------------------------------------------|
| Total Revenues                         | $   13,859  |   | $   13,586  |   | $   13,326  |   | $   15,209  |   | $     7,263  |
| Net Income (Loss)                      | 248,823                    |   | (91,691)                        |   | 538,973                    |   | (119,127)                       |   | (156,399)                                  |
| Equity in Loss of Project Partnerships | -                          |   | -                          |   | -                          |   | -                          |   | (32,092)                                   |
| Total Assets                           | 451,096                    |   | 161,708                    |   | 209,701                    |   | 257,364                    |   | 316,805                               |
| Investments In Project Partnerships    | -                          |   | -                          |   | -                          |   | -                          |   | -                                     |
|                                   |                            |   |                            |   |                            |   |                            |   |                                       |
| Per BAC: (A)                           |                            |   |                            |   |                            |   |                            |   |                                       |
| Tax Credits                            | .00                        |   | .00                        |   | .00                        |   | .02                        |   | .14                                   |
| Portfolio Income                       | 1.44                       |   | 4.18                       |   | 8.66                       |   | 6.65                       |   | 4.74                                  |
| Passive Loss                           | (79.58)                         |   | (100.63)                        |   | (89.10)                         |   | (125.58)                        |   | (129.62)                                   |
| Net Income (Loss)                      | 40.15                      |   | (14.79)                         |   | 86.96                      |   | (19.22)                         |   | (25.23)                                    |
| Distributions Paid                     | -                          |   | -                          |   | 137.59                     |   | -                          |   | -                                     |

| SERIES 3                                 | 2010                            |   | 2009                            |   | 2008                            |   | 2007                            |   | 2006                            |
|------------------------------------------|---------------------------------|--------|---------------------------------|--------|---------------------------------|--------|---------------------------------|--------|---------------------------------|
| Total Revenues                           | $   17,501  |   | $   14,465  |   | $   19,193  |   | $   20,439  |   | $   22,861  |
| Net (Loss) Income                        | (83,771)                        |   | (90,478)                        |   | 42,787                     |   | 305,962                    |   | (108,278)                       |
| Equity in Income of Project Partnerships | -                          |   | -                          |   | -                          |   | 490                        |   | -                          |
| Total Assets                             | 112,146                    |   | 148,892                    |   | 202,574                    |   | 598,431                    |   | 294,987                    |
| Investments In Project Partnerships      | -                          |   | -                          |   | -                          |   | -                          |   | -                          |
|                                     |                            |   |                            |   |                            |   |                            |   |                            |
| Per BAC: (A)                             |                            |   |                            |   |                            |   |                            |   |                            |
| Tax Credits                              | .00                        |   | .00                        |   | .00                        |   | .00                        |   | .00                        |
| Portfolio Income                         | 2.19                       |   | 4.67                       |   | 8.09                       |   | 11.09                      |   | 6.85                       |
| Passive Loss                             | (65.48)                         |   | (78.63)                         |   | (79.78)                         |   | (118.50)                        |   | (137.15)                        |
| Net (Loss) Income                        | (15.20)                         |   | (16.42)                         |   | 7.61                       |   | 46.84                      |   | (19.65)                         |
| Distributions Paid                       | -                          |   | -                          |   | 79.93                      |   | 18.25                      |   | -                          |

----

| SERIES 4                               | 2010                                       |   | 2009                            |   | 2008                            |   | 2007                            |   | 2006                            |
|----------------------------------------|--------------------------------------------|--------|---------------------------------|--------|---------------------------------|--------|---------------------------------|--------|---------------------------------|
| Total Revenues                         | $     8,109  |   | $   12,173  |   | $   14,020  |   | $   20,091  |   | $   18,473  |
| Net (Loss) Income                      | (63,104)                                   |   | 236,334                    |   | 183,252                    |   | (79,276)                        |   | (138,304)                       |
| Equity in Loss of Project Partnerships | -                                     |   | -                          |   | -                          |   | -                          |   | -                          |
| Total Assets                           | 175,323                               |   | 408,013                    |   | 275,302                    |   | 469,913                    |   | 396,889                    |
| Investments In Project Partnerships    | -                                     |   | -                          |   | -                          |   | -                          |   | -                          |
|                                   |                                       |   |                            |   |                            |   |                            |   |                            |
| Per BAC: (A)                           |                                       |   |                            |   |                            |   |                            |   |                            |
| Tax Credits                            | .00                                   |   | .00                        |   | .00                        |   | .00                        |   | 1.22                       |
| Portfolio Income                       | 1.18                                  |   | 3.90                       |   | 9.15                       |   | 9.68                       |   | 5.99                       |
| Passive Loss                           | (40.23)                                    |   | (53.18)                         |   | (103.10)                        |   | (149.08)                        |   | (150.52)                        |
| Net (Loss) Income                      | (9.03)                                     |   | 33.84                      |   | 26.06                      |   | (20.70)                         |   | (19.80)                         |
| Distributions Paid                     | 27.65                                 |   | 18.90                      |   | 51.60                      |   | -                          |   | -                          |

| SERIES 5                               | 2010                            |   | 2009                            |   | 2008                            |   | 2007                            |   | 2006                            |
|----------------------------------------|---------------------------------|--------|---------------------------------|--------|---------------------------------|--------|---------------------------------|--------|---------------------------------|
| Total Revenues                         | $   26,546  |   | $   16,491  |   | $   27,867  |   | $   26,812  |   | $   22,819  |
| Net Income (Loss)                      | 258,375                    |   | (190,678)                       |   | 38,818                     |   | (194,685)                       |   | (208,790)                       |
| Equity in Loss of Project Partnerships | -                          |   | (18,638)                        |   | (23,323)                        |   | (5,528)                         |   | (22,512)                        |
| Total Assets                           | 631,079                    |   | 107,240                    |   | 406,040                    |   | 402,832                    |   | 508,067                    |
| Investments In Project Partnerships    | -                          |   | -                          |   | 21,112                     |   | 125,403                    |   | 151,630                    |
|                                   |                            |   |                            |   |                            |   |                            |   |                            |
| Per BAC: (A)                           |                            |   |                            |   |                            |   |                            |   |                            |
| Tax Credits                            | .00                        |   | .00                        |   | .00                        |   | .00                        |   | .00                        |
| Portfolio Income                       | 2.16                       |   | 6.26                       |   | 7.35                       |   | 5.89                       |   | 5.79                       |
| Passive Loss                           | (83.34)                         |   | (120.20)                        |   | (117.09)                        |   | (118.24)                        |   | (112.76)                        |
| Net Income (Loss)                      | 29.56                      |   | (21.91)                         |   | 3.78                       |   | (22.37)                         |   | (23.99)                         |
| Distributions Paid                     | -                          |   | 20.89                      |   | 14.75                      |   | -                          |   | 18.23                      |

| SERIES 6                                        | 2010                            |   | 2009                            |   | 2008                            |   | 2007                            |   | 2006                            |
|-------------------------------------------------|---------------------------------|--------|---------------------------------|--------|---------------------------------|--------|---------------------------------|--------|---------------------------------|
| Total Revenues                                  | $   29,087  |   | $   29,062  |   | $   28,650  |   | $   29,678  |   | $   26,354  |
| Net Loss                                        | (163,479)                       |   | (81,656)                        |   | (267,784)                       |   | (332,668)                       |   | (342,258)                       |
| Equity in (Loss) Income of Project Partnerships | -                          |   | (4,692)                         |   | 18,738                     |   | (7,156)                         |   | (25,699)                        |
| Total Assets                                    | 229,672                    |   | 427,375                    |   | 460,616                    |   | 683,149                    |   | 914,235                    |
| Investments In Project Partnerships             | -                          |   | -                          |   | 28,229                     |   | 208,779                    |   | 372,285                    |
|                                            |                            |   |                            |   |                            |   |                            |   |                            |
| Per BAC: (A)                                    |                            |   |                            |   |                            |   |                            |   |                            |
| Tax Credits                                     | .00                        |   | .00                        |   | .00                        |   | .00                        |   | .00                        |
| Portfolio Income                                | 3.56                       |   | 8.17                       |   | 11.78                      |   | 9.85                       |   | 7.33                       |
| Passive Loss                                    | (95.47)                         |   | (104.90)                        |   | (90.12)                         |   | (99.04)                         |   | (96.72)                         |
| Net Loss                                        | (16.06)                         |   | (8.80)                          |   | (26.24)                         |   | (32.59)                         |   | (42.09)                         |
| Distributions Paid                              | 12.97                      |   | 3.95                       |   | 5.99                       |   | -                          |   | 22.17                      |

| TOTAL SERIES 2 - 6                     | 2010                                  |   | 2009                                  |   | 2008                             |   | 2007                             |   | 2006                            |
|----------------------------------------|---------------------------------------|--------|---------------------------------------|--------|----------------------------------|--------|----------------------------------|--------|---------------------------------|
| Total Revenues                         | $    95,102  |   | $    85,777  |   | $   103,056  |   | $   112,229  |   | $   97,770  |
| Net Income (Loss)                      | 196,844                          |   | (218,169)                             |   | 536,046                     |   | (419,794)                        |   | (954,029)                       |
| Equity in Loss of Project Partnerships | -                                |   | (23,330)                              |   | (4,585)                          |   | (12,194)                         |   | (80,303)                        |
| Total Assets                           | 1,599,316                        |   | 1,253,228                        |   | 1,554,233                   |   | 2,411,689                   |   | 2,430,983                  |
| Investments In Project Partnerships    | -                                |   | -                                |   | 49,341                      |   | 334,182                     |   | 523,915                    |

----

----

----

----

----

----

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

| Transaction    |                   |                     | Net Proceeds            | Gain (Loss)                          |
|----------------|------------------------|--------------------------|-------------------------|--------------------------------------|
| Month / Year   | Project Partnership    | Net Proceeds             | Per BAC                 | on Disposal                          |
| September 2008 | Prairie Apartments     | $  7,741  | $  1.26  | $    7,741  |
|           | Other, net (see below) | -                   | -                  | 5,300                           |
|           |                   |                     |                    | $  13,041             |

----

| Transaction    |                    |                      | Net Proceeds            | Gain (Loss)                           |
|----------------|-------------------------|---------------------------|-------------------------|---------------------------------------|
| Month / Year   | Project Partnership     | Net Proceeds              | Per BAC                 | on Disposal                           |
| December 2008  | Williston Properties    | $  43,512  | $  6.29  | $    43,512  |
| December 2008  | St. George Properties   | 43,592               | 6.30               | 43,592                           |
| December 2008  | Jonesville Manor        | 79,579               | 11.51              | 79,499                           |
| September 2008 | Rural Development Group | 24,550               | 3.55               | 24,550                           |
| June 2008      | Norton Green            | 120,977              | 17.49              | 120,645                          |
|           | Other, net (see below)  | -                    | -                  | 1,850                            |
|           |                    |                      |                    | $  313,648             |

| Transaction  |                   |                                                                 | Net Proceeds                                             | Gain (Loss)              |
|--------------|------------------------|----------------------------------------------------------------------|----------------------------------------------------------|--------------------------|
| Month / Year | Project Partnership    | Net Proceeds                                                         | Per BAC                                                  | on Disposal              |
|         | Other, net (see below) | $          -  | $        -  | $  3,700  |
|         |                   |                                                                 |                                                     | $  3,700  |

----

| Transaction    |                   |                      | Net Proceeds            | Gain (Loss)                           |
|----------------|------------------------|---------------------------|-------------------------|---------------------------------------|
| Month / Year   | Project Partnership    | Net Proceeds              | Per BAC                 | on Disposal                           |
| December 2008  | Newport Village        | $  46,919  | $  4.64  | $    46,369  |
| December 2008  | Blacksburg Terrace     | 47,490               | 4.70               | 47,410                           |
| September 2008 | Spruce Apartments      | 9,442                | 0.93               | 9,442                            |
| September 2008 | Shannon Apartments     | 7,741                | 0.77               | 7,741                            |
| September 2008 | Cornell Apartments     | 9,741                | 0.96               | 9,741                            |
| September 2008 | Winter Park Apartments | 9,741                | 0.96               | 9,741                            |
|           |                   |                      |                    | $  130,444             |

| Transaction  |                  |                       | Net Proceeds             | Gain (Loss)                |
|--------------|-----------------------|----------------------------|--------------------------|----------------------------|
| Month / Year | Project Partnership   | Net Proceeds               | Per BAC                  | on Disposal                |
| October 2007 | Inverness Club, Ltd.  | $  309,188  | $  50.39  | $  308,748  |
| October 2007 | Lakeshore Apartments  | 105,432               | 17.18               | 105,324               |
| April 2007   | Claxton Elderly, Ltd. | 56,043                | 9.13                | 56,043                |
| April 2007   | Lake Park, Ltd.       | 183,026               | 29.83               | 182,807               |
|         |                  |                       |                     | $  652,922  |

| Claxton Elderly, Ltd.             | $   42,775  |
|-----------------------------------|---------------------------------|
| Lake Park, Ltd.                   | 148,278                    |
|                              |                            |
| Total Re-syndication contribution | $ 191,053                  |

| Transaction   |                          |                      | Net Proceeds             | Gain (Loss)                           |
|---------------|-------------------------------|---------------------------|--------------------------|---------------------------------------|
| Month / Year  | Project Partnership           | Net Proceeds              | Per BAC                  | on Disposal                           |
| December 2007 | Sunchase II, Ltd.             | $  73,000  | $  13.38  | $    74,700  |
| December 2007 | Logansport Seniors Apartments | 6,000                | 1.10                | 7,371                            |
| March 2007    | Belmont Senior Apts., Ltd.    | -                    | -                   | 43,850                           |
|          | Other, net (see below)        | -                    | -                   | 185                              |
|          |                          |                      |                     | $  126,106             |

----

| Transaction   |                                    | Net                                                                  | Net Proceeds                                       | Gain (Loss)                            |
|---------------|-----------------------------------------|----------------------------------------------------------------------|----------------------------------------------------|----------------------------------------|
| Month / Year  | Project Partnership                     | Proceeds                                                             | Per BAC                                            | on Disposal                            |
| February 2008 | Chestnut Apartments                     | $          -  | $       -  | $     (2,000) |
| December 2007 | Oaks Apartments                         | 6,000                                                           | 0.87                                          | 7,737                             |
| December 2007 | Tarpon Heights Apartments               | 10,000                                                          | 1.45                                          | 11,653                            |
| December 2007 | Sonora Seniors Apartments, Ltd.         | 6,000                                                           | 0.87                                          | 7,737                             |
| December 2007 | Fredericksburg Seniors Apartments, Ltd. | 10,000                                                          | 1.45                                          | 11,578                            |
| December 2007 | Ozona Seniors, Ltd.                     | 4,000                                                           | 0.58                                          | 5,587                             |
| December 2007 | Brackettville Seniors Apartments, Ltd.  | 6,000                                                           | 0.87                                          | 7,663                             |
| December 2007 | Timpson Seniors Apartments, Ltd.        | 5,000                                                           | 0.72                                          | 6,738                             |
| November 2007 | Jasper Villas Apartments                | 99,700                                                          | 14.42                                         | 99,700                            |
| October 2007  | Eudora Senior Housing                   | 63,379                                                          | 9.17                                          | 63,218                            |
| March 2007    | Edmonton Senior, Ltd.                   | -                                                               | -                                             | 38,350                            |
| March 2007    | Owingsville Senior, Ltd.                | -                                                               | -                                             | 45,850                            |
|          |                                    |                                                                 |                                               | $  303,811              |

| Transaction    |                                   |                      | Net Proceeds            | Gain (Loss)                            |
|----------------|----------------------------------------|---------------------------|-------------------------|----------------------------------------|
| Month / Year   | Project Partnership                    | Net Proceeds              | Per BAC                 | on Disposal                            |
| November 2007  | Zapata Housing, Ltd.                   | $  74,935  | $  8.70  | $     (3,880) |
| October 2007   | Pemberton Village II, Ltd.             | 53,560               | 6.22               | 53,560                            |
| October 2007   | Magic Circle II, Ltd.                  | 51,787               | 6.01               | 51,787                            |
| September 2007 | Redmont II, Ltd.                       | 16,575               | 1.92               | 16,575                            |
| September 2007 | Fox Ridge Apartments, Ltd.             | 16,650               | 1.93               | 16,650                            |
| September 2007 | Country Place Apartments - Georgetown  | 46,736               | 5.42               | 46,736                            |
| September 2007 | Country Place Apartments - Portland II | 47,163               | 5.47               | 47,163                            |
|           |                                   |                      |                    | $  228,591              |

----

| Transaction   |                            | Net                       | Net Proceeds            | Gain (Loss)                      |
|---------------|---------------------------------|---------------------------|-------------------------|----------------------------------|
| Month / Year  | Project Partnership             | Proceeds                  | Per BAC                 | on Disposal                      |
| December 2007 | Hardy Senior Citizen Apartments | $  39,837  | $  3.94  | $    (9,834) |
| August 2007   | Autumn Village II               | 60,837               | 5.99               | (64,800)                         |
|          |                            |                      |                    | $  (74,634)            |

| Alma Properties, An Arkansas Limited Partnership |   |
|--------------------------------------------------|--------|

| Richland Elderly Housing, Ltd., L.P.   | Pearson Elderly Housing, Ltd., L.P.     |
|----------------------------------------|-----------------------------------------|
| Mt. Vernon Elderly Housing, Ltd., L.P. | Lakeland Elderly Apartments, Ltd., L.P. |
| Deerfield II Ltd., L.P.                | Hartwell Family, Ltd., L.P.             |

| Heritage Villas, L.P. | Nowata Properties    |
|-----------------------|----------------------|
| Poteau Properties II  | Roland Properties II |
| Sallisaw Properties   | Stilwell Properties  |
| Waldron Properties    |                 |

----

| Stilwell Properties II           | Westville Properties |
|----------------------------------|----------------------|
| Spring Hill Senior Housing, L.P. |                 |

| Carrollton Club, Ltd., L.P.       | Crawford Rental Housing, L.P.         |
|-----------------------------------|---------------------------------------|
| Greensboro Properties, Ltd., L.P. | Greensboro Properties, L.P., Phase II |
| Clayton Properties                | Mill Creek Properties V               |
| Spring Hill Housing, L.P.         |                                  |

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

| Wallis Housing, Ltd. |   |
|----------------------|--------|

| Lancaster House |   |
|-----------------|--------|

----

|                                        |           | Payment due by period |
|---------------------------------------------|----------------|-----------------------|
|                                        |           | Less than             |   |   | More than |
| Contractual Obligations                     | Total          | 1 year                | 1-3 years | 3-5 years | 5 years |
|                                        |           |                  |   |   |   |
| Long-Term Debt Obligations                  |           |                  |   |   |   |
| Capital Lease Obligations                   |           |                  |   |   |   |
| Operating Lease Obligations                 |           |                  |   |   |   |
| Purchase Obligations                        |           |                  |   |   |   |
| Other Liabilities Reflected on the          |           |                  |   |   |   |
| Registrant’s Balance Sheet under GAAP | $4,753,492 (1) | 118,273               | 4,635,219 | 0 | 0 |

----

----

|                                                          | SERIES 2                                                                       |   | SERIES 3                                                     |   | SERIES 4                                                            |
|---------------------------------------------------------------|--------------------------------------------------------------------------------|--------|--------------------------------------------------------------|--------|---------------------------------------------------------------------|
|                                                          | March 31,                                                                      |   | March 31,                                                    |   | March 31,                                                           |   | March 31, |   | March 31, |   | March 31, |
|                                                          | 2010                                                                           |   | 2009                                                         |   | 2010                                                                |   | 2009 |   | 2010 |   | 2009 |
| ASSETS                                                        |                                                                           |   |                                                         |   |                                                                |   |   |   |   |   |   |
| Current Assets:                                               |                                                                           |   |                                                         |   |                                                                |   |   |   |   |   |   |
| Cash and Cash Equivalents                                     | $       451,096                        |   | $    161,708                        |   | $       112,146             |   | $    148,892  |   | $       175,323  |   | $     408,013  |
|                                                          |                                                                           |   |                                                         |   |                                                                |   |   |   |   |   |   |
| Total Assets                                                  | $       451,096                        |   | $    161,708                        |   | $       112,146             |   | $    148,892  |   | $       175,323  |   | $     408,013  |
|                                                          |                                                                           |   |                                                         |   |                                                                |   |   |   |   |   |   |
| LIABILITIES AND PARTNERS' DEFICIT                             |                                                                           |   |                                                         |   |                                                                |   |   |   |   |   |   |
| Current Liabilities:                                          |                                                                           |   |                                                         |   |                                                                |   |   |   |   |   |   |
| Payable to General Partners                                   | $           7,689  |   | $        8,464  |   | $         17,558  |   | $        8,265  |   | $           7,778  |   | $         9,602  |
| Distribution Payable                                          | 347,753                                                                   |   | 16,121                                                  |   | 3,249                                                          |   | 3,249  |   | 3,492  |   | 192,692  |
|                                                          |                                                                           |   |                                                         |   |                                                                |   |   |   |   |   |   |
| Total Current Liabilities                                     | 355,442                                                                   |   | 24,585                                                  |   | 20,807                                                         |   | 11,514  |   | 11,270  |   | 202,294  |
|                                                          |                                                                           |   |                                                         |   |                                                                |   |   |   |   |   |   |
| Long-Term Liabilities:                                        |                                                                           |   |                                                         |   |                                                                |   |   |   |   |   |   |
| Payable to General Partners                                   | 855,054                                                                   |   | 813,714                                                 |   | 714,133                                                        |   | 676,401  |   | 886,846  |   | 863,408  |
|                                                          |                                                                           |   |                                                         |   |                                                                |   |   |   |   |   |   |
| 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 March 31, 2010 and 2009                   | (902,393)                                                                      |   | (817,096)                                                    |   | (622,304)                                                           |   | (539,371) |   | (727,551) |   | (663,078) |
| General Partners                                              | 142,993                                                                   |   | 140,505                                                 |   | (490)                                                               |   | 348  |   | 4,758  |   | 5,389  |
|                                                          |                                                                           |   |                                                         |   |                                                                |   |   |   |   |   |   |
| Total Partners' Deficit                                       | (759,400)                                                                      |   | (676,591)                                                    |   | (622,794)                                                           |   | (539,023) |   | (722,793) |   | (657,689) |
|                                                          |                                                                           |   |                                                         |   |                                                                |   |   |   |   |   |   |
| Total Liabilities and Partners' Deficit                       | $       451,096                        |   | $    161,708                        |   | $       112,146             |   | $    148,892  |   | $       175,323  |   | $     408,013  |
|                                                          |                                                                           |   |                                                         |   |                                                                |   |   |   |   |   |   |

----

|                                                         | SERIES 5                                                            |   | SERIES 6                                          |   | TOTAL SERIES 2 - 6                                                  |
|--------------------------------------------------------------|---------------------------------------------------------------------|--------|---------------------------------------------------|--------|---------------------------------------------------------------------|
|                                                         | March 31,                                                           |   | March 31,                                         |   | March 31,                                                           |   | March 31, |   | March 31, |   | March 31, |
|                                                         | 2010                                                                |   | 2009                                              |   | 2010                                                                |   | 2009 |   | 2010 |   | 2009 |
| ASSETS                                                       |                                                                |   |                                              |   |                                                                |   |   |   |   |   |   |
| Current Assets:                                              |                                                                |   |                                              |   |                                                                |   |   |   |   |   |   |
| Cash and Cash Equivalents                                    | $       479,047             |   | $    107,240             |   | $       229,672             |   | $    427,375  |   | $    1,447,284  |   | $  1,253,228  |
| Receivable - Other                                           | 152,032                                                        |   | -                                            |   | -                                                              |   | -  |   | 152,032  |   | -  |
|                                                         |                                                                |   |                                              |   |                                                                |   |   |   |   |   |   |
| Total Assets                                                 | $       631,079             |   | $    107,240             |   | $       229,672             |   | $    427,375  |   | $    1,599,316  |   | $  1,253,228  |
|                                                         |                                                                |   |                                              |   |                                                                |   |   |   |   |   |   |
| LIABILITIES AND PARTNERS' DEFICIT                            |                                                                |   |                                              |   |                                                                |   |   |   |   |   |   |
| Current Liabilities:                                         |                                                                |   |                                              |   |                                                                |   |   |   |   |   |   |
| Payable to General Partners                                  | $         53,803  |   | $      13,333  |   | $         31,445  |   | $      16,006  |   | $       118,273  |   | $       55,670  |
| Distribution Payable                                         | 403,226                                                        |   | 3,704                                        |   | 1,455                                                          |   | 130,517  |   | 759,175  |   | 346,283  |
| Deferred Gain on Sale of Project Partnerships                | 151,377                                                        |   | -                                            |   | -                                                              |   | -  |   | 151,377  |   | -  |
|                                                         |                                                                |   |                                              |   |                                                                |   |   |   |   |   |   |
| Total Current Liabilities                                    | 608,406                                                        |   | 17,037                                       |   | 32,900                                                         |   | 146,523  |   | 1,028,825  |   | 401,953  |
|                                                         |                                                                |   |                                              |   |                                                                |   |   |   |   |   |   |
| Long-Term Liabilities:                                       |                                                                |   |                                              |   |                                                                |   |   |   |   |   |   |
| Payable to General Partners                                  | 906,074                                                        |   | 832,457                                      |   | 1,273,112                                                      |   | 1,191,713  |   | 4,635,219 |   | 4,377,693  |
|                                                         |                                                                |   |                                              |   |                                                                |   |   |   |   |   |   |
| 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 March 31, 2010 and 2009                       | (887,385)                                                           |   | (742,574)                                         |   | (1,076,356)                                                         |   | (912,084) |   | (4,215,989) |   | (3,674,203) |
| General Partners                                             | 3,984                                                          |   | 320                                          |   | 16                                                             |   | 1,223  |   | 151,261  |   | 147,785  |
|                                                         |                                                                |   |                                              |   |                                                                |   |   |   |   |   |   |
| Total Partners' Deficit                                      | (883,401)                                                           |   | (742,254)                                         |   | (1,076,340)                                                         |   | (910,861) |   | (4,064,728) |   | (3,526,418) |
|                                                         |                                                                |   |                                              |   |                                                                |   |   |   |   |   |   |
| Total Liabilities and Partners' Deficit                      | $       631,079             |   | $    107,240             |   | $       229,672             |   | $    427,375  |   | $    1,599,316  |   | $  1,253,228  |
|                                                         |                                                                |   |                                              |   |                                                                |   |   |   |   |   |   |

----

|                                                              | SERIES 2                                               |   | SERIES 3                                     |
|-------------------------------------------------------------------|--------------------------------------------------------|--------|----------------------------------------------|
|                                                              | 2010                                                   |   | 2009                                         |   | 2008 |   | 2010 |   | 2009 |   | 2008 |
| Revenues:                                                         |                                                   |   |                                         |   |   |   |   |   |   |   |   |
| Distribution Income                                               | $     13,859             |   | $     13,586   |   | $    13,326  |   | $      17,501  |   | $      14,465  |   | $     19,193  |
| Total Revenues                                                    | 13,859                                            |   | 13,586                                  |   | 13,326  |   | 17,501  |   | 14,465  |   | 19,193  |
|                                                              |                                                   |   |                                         |   |   |   |   |   |   |   |   |
| Expenses:                                                         |                                                   |   |                                         |   |   |   |   |   |   |   |   |
| Asset Management Fee - General Partner                            | 41,341                                            |   | 47,611                                  |   | 59,534  |   | 37,732  |   | 37,995  |   | 43,194  |
| General and Administrative:                                       |                                                   |   |                                         |   |   |   |   |   |   |   |   |
| General Partner                                                   | 43,142                                            |   | 54,129                                  |   | 63,960  |   | 43,457  |   | 46,497  |   | 53,244  |
| Other                                                             | 12,208                                            |   | 20,186                                  |   | 22,305  |   | 20,097  |   | 24,045  |   | 19,208  |
|                                                              |                                                   |   |                                         |   |   |   |   |   |   |   |   |
| Total Expenses                                                    | 96,691                                            |   | 121,926                                 |   | 145,799  |   | 101,286  |   | 108,537  |   | 115,646  |
|                                                              |                                                   |   |                                         |   |   |   |   |   |   |   |   |
| Loss Before Gain on Sale of Project Partnerships and Other Income | (82,832)                                               |   | (108,340)                                    |   | (132,473) |   | (83,785) |   | (94,072) |   | (96,453) |
| Gain on Sale of Project Partnerships                              | 331,632                                           |   | 13,041                                  |   | 652,922  |   | -  |   | -  |   | 126,106  |
| Interest Income                                                   | 23                                                |   | 3,608                                   |   | 18,524  |   | 14  |   | 3,594  |   | 13,134  |
|                                                              |                                                   |   |                                         |   |   |   |   |   |   |   |   |
| Net Income (Loss)                                                 | $   248,823                        |   | $    (91,691)            |   | $  538,973  |   | $    (83,771) |   | $    (90,478) |   | $     42,787  |
|                                                              |                                                   |   |                                         |   |   |   |   |   |   |   |   |
| Allocation of Net Income (Loss):                                  |                                                   |   |                                         |   |   |   |   |   |   |   |   |
| Assignees                                                         | $   246,335                        |   | $    (90,774)            |   | $  533,583  |   | $    (82,933) |   | $    (89,573) |   | $     41,534  |
| General Partners                                                  | 2,488                                             |   | (917)                                        |   | 5,390  |   | (838) |   | (905) |   | 1,253  |
|                                                              |                                                   |   |                                         |   |   |   |   |   |   |   |   |
|                                                              | $   248,823                        |   | $    (91,691)            |   | $  538,973  |   | $    (83,771) |   | $    (90,478) |   | $     42,787  |
|                                                              |                                                   |   |                                         |   |   |   |   |   |   |   |   |
| Net Income (Loss) Per Beneficial Assignee Certificate             | $       40.15  |   | $      (14.79) |   | $      86.96  |   | $      (15.20) |   | $      (16.42) |   | $         7.61  |
|                                                              |                                                   |   |                                         |   |   |   |   |   |   |   |   |
| Number of Beneficial Assignee Certificates Outstanding            | 6,136                                             |   | 6,136                                   |   | 6,136  |   | 5,456  |   | 5,456  |   | 5,456  |
|                                                              |                                                   |   |                                         |   |   |   |   |   |   |   |   |

----

|                                                                | SERIES 4                                                |   | SERIES 5                                         |
|---------------------------------------------------------------------|---------------------------------------------------------|--------|--------------------------------------------------|
|                                                                | 2010                                                    |   | 2009                                             |   | 2008 |   | 2010 |   | 2009 |   | 2008 |
| Revenues:                                                           |                                                    |   |                                             |   |   |   |   |   |   |   |   |
| Distribution Income                                                 | $       8,109   |   | $    12,173             |   | $    14,020  |   | $      26,546  |   | $       16,491  |   | $    27,867  |
| Total Revenues                                                      | 8,109                                              |   | 12,173                                      |   | 14,020  |   | 26,546  |   | 16,491  |   | 27,867  |
|                                                                |                                                    |   |                                             |   |   |   |   |   |   |   |   |
| Expenses:                                                           |                                                    |   |                                             |   |   |   |   |   |   |   |   |
| Asset Management Fee - General Partner                              | 23,438                                             |   | 33,100                                      |   | 60,199  |   | 73,617  |   | 77,196  |   | 86,397  |
| General and Administrative:                                         |                                                    |   |                                             |   |   |   |   |   |   |   |   |
| General Partner                                                     | 27,458                                             |   | 39,332                                      |   | 68,200  |   | 68,984  |   | 86,794  |   | 95,494  |
| Other                                                               | 22,340                                             |   | 22,583                                      |   | 22,840  |   | 25,107  |   | 31,379  |   | 26,495  |
|                                                                |                                                    |   |                                             |   |   |   |   |   |   |   |   |
| Total Expenses                                                      | 73,236                                             |   | 95,015                                      |   | 151,239  |   | 167,708  |   | 195,369  |   | 208,386  |
|                                                                |                                                    |   |                                             |   |   |   |   |   |   |   |   |
| Loss Before Equity in Loss of Project Partnerships and Other Income | (65,127)                                                |   | (82,842)                                         |   | (137,219) |   | (141,162) |   | (178,878) |   | (180,519) |
| Equity in Loss of Project Partnerships                              | -                                                  |   | -                                           |   | -  |   | -  |   | (18,638) |   | (23,323) |
| Gain on Sale of Project Partnerships                                | 2,000                                              |   | 313,648                                     |   | 303,811  |   | 399,522  |   | 3,700  |   | 228,591  |
| Interest Income                                                     | 23                                                 |   | 5,528                                       |   | 16,660  |   | 15  |   | 3,138  |   | 14,069  |
|                                                                |                                                    |   |                                             |   |   |   |   |   |   |   |   |
| Net (Loss) Income                                                   | $    (63,104)                       |   | $  236,334                        |   | $  183,252  |   | $    258,375  |   | $   (190,678) |   | $    38,818  |
|                                                                |                                                    |   |                                             |   |   |   |   |   |   |   |   |
| Allocation of Net (Loss) Income:                                    |                                                    |   |                                             |   |   |   |   |   |   |   |   |
| Assignees                                                           | $    (62,473)                       |   | $  233,971                        |   | $  180,226  |   | $    254,711  |   | $   (188,771) |   | $    32,556  |
| General Partners                                                    | (631)                                                   |   | 2,363                                       |   | 3,026  |   | 3,664  |   | (1,907) |   | 6,262  |
|                                                                |                                                    |   |                                             |   |   |   |   |   |   |   |   |
|                                                                | $    (63,104)                       |   | $  236,334                        |   | $  183,252  |   | $    258,375  |   | $   (190,678) |   | $    38,818  |
|                                                                |                                                    |   |                                             |   |   |   |   |   |   |   |   |
| Net (Loss) Income Per Beneficial Assignee Certificate               | $        (9.03) |   | $      33.84  |   | $      26.06  |   | $        29.56  |   | $       (21.91) |   | $        3.78  |
|                                                                |                                                    |   |                                             |   |   |   |   |   |   |   |   |
| Number of Beneficial Assignee Certificates Outstanding              | 6,915                                              |   | 6,915                                       |   | 6,915  |   | 8,616  |   | 8,616  |   | 8,616  |
|                                                                |                                                    |   |                                             |   |   |   |   |   |   |   |   |

----

|                                                        | SERIES 6                                           |   | TOTAL SERIES 2 - 6                                            |
|-------------------------------------------------------------|----------------------------------------------------|--------|---------------------------------------------------------------|
|                                                        | 2010                                               |   | 2009                                                          |   | 2008 |   | 2010 |   | 2009 |   | 2008 |
| Revenues:                                                   |                                               |   |                                                          |   |   |   |   |   |   |   |   |
| Distribution Income                                         | $      29,087   |   | $      29,062              |   | $      28,650  |   | $    95,102  |   | $      85,777  |   | $    103,056  |
| Total Revenues                                              | 29,087                                        |   | 29,062                                                   |   | 28,650  |   | 95,102  |   | 85,777  |   | 103,056  |
|                                                        |                                               |   |                                                          |   |   |   |   |   |   |   |   |
| Expenses:                                                   |                                               |   |                                                          |   |   |   |   |   |   |   |   |
| Asset Management Fee - General Partner                      | 81,399                                        |   | 91,792                                                   |   | 100,623  |   | 257,527  |   | 287,694  |   | 349,947  |
| General and Administrative:                                 |                                               |   |                                                          |   |   |   |   |   |   |   |   |
| General Partner                                             | 84,018                                        |   | 99,847                                                   |   | 112,863  |   | 267,059  |   | 326,599  |   | 393,761  |
| Other                                                       | 29,178                                        |   | 29,828                                                   |   | 27,252  |   | 108,930  |   | 128,021  |   | 118,100  |
| Amortization                                                | -                                             |   | -                                                        |   | 21,063  |   | -  |   | -  |   | 21,063  |
| Impairment Loss on Investment in Project Partnerships       | -                                             |   | 22,839                                                   |   | -  |   | -  |   | 22,839  |   | -  |
|                                                        |                                               |   |                                                          |   |   |   |   |   |   |   |   |
| Total Expenses                                              | 194,595                                       |   | 244,306                                                  |   | 261,801  |   | 633,516  |   | 765,153  |   | 882,871  |
|                                                        |                                               |   |                                                          |   |   |   |   |   |   |   |   |
| Loss Before Equity in (Loss) Income of Project Partnerships |                                               |   |                                                          |   |   |   |   |   |   |   |   |
| and Other Income                                            | (165,508)                                          |   | (215,244)                                                     |   | (233,151) |   | (538,414) |   | (679,376) |   | (779,815) |
| Equity in (Loss) Income of Project Partnerships             | -                                             |   | (4,692)                                                       |   | 18,738  |   | -  |   | (23,330) |   | (4,585) |
| Gain (Loss) on Sale of Project Partnerships                 | 2,000                                         |   | 130,444                                                  |   | (74,634) |   | 735,154  |   | 460,833  |   | 1,236,796  |
| Interest Income                                             | 29                                            |   | 7,836                                                    |   | 21,263  |   | 104  |   | 23,704  |   | 83,650  |
|                                                        |                                               |   |                                                          |   |   |   |   |   |   |   |   |
| Net (Loss) Income                                           | $   (163,479)                       |   | $     (81,656)                       |   | $   (267,784) |   | $  196,844  |   | $   (218,169) |   | $    536,046  |
|                                                        |                                               |   |                                                          |   |   |   |   |   |   |   |   |
| Allocation of Net (Loss) Income:                            |                                               |   |                                                          |   |   |   |   |   |   |   |   |
| Assignees                                                   | $   (162,272)                       |   | $     (88,884)                       |   | $   (265,106) |   | $  193,368  |   | $   (224,031) |   | $    522,793  |
| General Partners                                            | (1,207)                                            |   | 7,228                                                    |   | (2,678) |   | 3,476  |   | 5,862  |   | 13,253  |
|                                                        |                                               |   |                                                          |   |   |   |   |   |   |   |   |
|                                                        | $   (163,479)                       |   | $     (81,656)                       |   | $   (267,784) |   | $  196,844  |   | $   (218,169) |   | $    536,046  |
|                                                        |                                               |   |                                                          |   |   |   |   |   |   |   |   |
| Net Loss Per Beneficial Assignee Certificate                | $       (16.06) |   | $         (8.80) |   | $       (26.24) |   |   |   |   |   |   |
|                                                        |                                               |   |                                                          |   |   |   |   |   |   |   |   |
| Number of Beneficial Assignee Certificates Outstanding      | 10,105                                        |   | 10,105                                                   |   | 10,105  |   |   |   |   |   |   |
|                                                        |                                               |   |                                                          |   |   |   |   |   |   |   |   |

----

|                      | SERIES 2                           |   | SERIES 3                                |
|---------------------------|------------------------------------|--------|-----------------------------------------|
|                      |                               |   | General                                 |   |   |   |   |   | General |   |   |
|                      | Assignees                          |   | Partners                                |   | Total |   | Assignees |   | Partners |   | Total |
|                      |                               |   |                                    |   |   |   |   |   |   |   |   |
| Balance at March 31, 2007 | $    (399,531) |   | $     (58,378) |   | $    (457,909) |   | $   (365,257) |   | $              -  |   | $     (365,257) |
|                      |                               |   |                                    |   |   |   |   |   |   |   |   |
| Capital Contributions     | -                             |   | 191,053                            |   | 191,053  |   | -  |   | -  |   | -  |
|                      |                               |   |                                    |   |   |   |   |   |   |   |   |
| Net Income                | 533,583                       |   | 5,390                              |   | 538,973  |   | 41,534  |   | 1,253  |   | 42,787  |
|                      |                               |   |                                    |   |   |   |   |   |   |   |   |
| Distributions             | (843,975)                          |   | -                                  |   | (843,975) |   | (126,075) |   | -  |   | (126,075) |
|                      |                               |   |                                    |   |   |   |   |   |   |   |   |
| Balance at March 31, 2008 | (709,923)                          |   | 138,065                            |   | (571,858) |   | (449,798) |   | 1,253  |   | (448,545) |
|                      |                               |   |                                    |   |   |   |   |   |   |   |   |
| Capital Contributions     | -                             |   | 3,357                              |   | 3,357  |   | -  |   | -  |   | -  |
|                      |                               |   |                                    |   |   |   |   |   |   |   |   |
| Net Loss                  | (90,774)                           |   | (917)                                   |   | (91,691) |   | (89,573) |   | (905) |   | (90,478) |
|                      |                               |   |                                    |   |   |   |   |   |   |   |   |
| Distributions             | (16,399)                           |   | -                                  |   | (16,399) |   | -  |   | -  |   | -  |
|                      |                               |   |                                    |   |   |   |   |   |   |   |   |
| Balance at March 31, 2009 | (817,096)                          |   | 140,505                            |   | (676,591) |   | (539,371) |   | 348  |   | (539,023) |
|                      |                               |   |                                    |   |   |   |   |   |   |   |   |
| Net Income (Loss)         | 246,335                       |   | 2,488                              |   | 248,823  |   | (82,933) |   | (838) |   | (83,771) |
|                      |                               |   |                                    |   |   |   |   |   |   |   |   |
| Distributions             | (331,632)                          |   | -                                  |   | (331,632) |   | -  |   | -  |   | -  |
|                      |                               |   |                                    |   |   |   |   |   |   |   |   |
| Balance at March 31, 2010 | $    (902,393) |   | $    142,993   |   | $    (759,400) |   | $   (622,304) |   | $        (490) |   | $     (622,794) |
|                      |                               |   |                                    |   |   |   |   |   |   |   |   |
|                      |                               |   |                                    |   |   |   |   |   |   |   |   |
|                      |                               |   |                                    |   |   |   |   |   |   |   |   |

----

|                      | SERIES 4                           |   | SERIES 5                                                                                                 |
|---------------------------|------------------------------------|--------|----------------------------------------------------------------------------------------------------------|
|                      |                               |   | General                                                                                                  |   |   |   |   |   | General |   |   |
|                      | Assignees                          |   | Partners                                                                                                 |   | Total |   | Assignees |   | Partners |   | Total |
|                      |                               |   |                                                                                                     |   |   |   |   |   |   |   |   |
| Balance at March 31, 2007 | $    (459,820) |   | $                -  |   | $    (459,820) |   | $   (275,580) |   | $     (4,035) |   | $     (279,615) |
|                      |                               |   |                                                                                                     |   |   |   |   |   |   |   |   |
| Net Income                | 180,226                       |   | 3,026                                                                                               |   | 183,252  |   | 32,556  |   | 6,262  |   | 38,818  |
|                      |                               |   |                                                                                                     |   |   |   |   |   |   |   |   |
| Distributions             | (303,807)                          |   | -                                                                                                   |   | (303,807) |   | (307,079) |   | -  |   | (307,079) |
|                      |                               |   |                                                                                                     |   |   |   |   |   |   |   |   |
| Balance at March 31, 2008 | (583,401)                          |   | 3,026                                                                                               |   | (580,375) |   | (550,103) |   | 2,227  |   | (547,876) |
|                      |                               |   |                                                                                                     |   |   |   |   |   |   |   |   |
| Net Income (Loss)         | 233,971                       |   | 2,363                                                                                               |   | 236,334  |   | (188,771) |   | (1,907) |   | (190,678) |
|                      |                               |   |                                                                                                     |   |   |   |   |   |   |   |   |
| Distributions             | (313,648)                          |   | -                                                                                                   |   | (313,648) |   | (3,700) |   | -  |   | (3,700) |
|                      |                               |   |                                                                                                     |   |   |   |   |   |   |   |   |
| Balance at March 31, 2009 | (663,078)                          |   | 5,389                                                                                               |   | (657,689) |   | (742,574) |   | 320  |   | (742,254) |
|                      |                               |   |                                                                                                     |   |   |   |   |   |   |   |   |
| Net (Loss) Income         | (62,473)                           |   | (631)                                                                                                    |   | (63,104) |   | 254,711  |   | 3,664  |   | 258,375  |
|                      |                               |   |                                                                                                     |   |   |   |   |   |   |   |   |
| Distributions             | (2,000)                            |   | -                                                                                                   |   | (2,000) |   | (399,522) |   | -  |   | (399,522) |
|                      |                               |   |                                                                                                     |   |   |   |   |   |   |   |   |
| Balance at March 31, 2010 | $    (727,551) |   | $        4,758                                              |   | $    (722,793) |   | $   (887,385) |   | $      3,984  |   | $     (883,401) |
|                      |                               |   |                                                                                                     |   |   |   |   |   |   |   |   |
|                      |                               |   |                                                                                                     |   |   |   |   |   |   |   |   |
|                      |                               |   |                                                                                                     |   |   |   |   |   |   |   |   |

----

|                      | SERIES 6                                 |   | TOTAL SERIES 2 - 6                                                          |
|---------------------------|------------------------------------------|--------|-----------------------------------------------------------------------------|
|                      |                                     |   | General                                                                     |   |   |   |   |   | General |   |   |
|                      | Assignees                                |   | Partners                                                                    |   | Total |   | Assignees |   | Partners |   | Total |
|                      |                                     |   |                                                                        |   |   |   |   |   |   |   |   |
| Balance at March 31, 2007 | $     (327,179) |   | $    (3,327)                                            |   | $     (330,506) |   | $  (1,827,367) |   | $     (65,740) |   | $  (1,893,107) |
|                      |                                     |   |                                                                        |   |   |   |   |   |   |   |   |
| Capital Contributions     | -                                   |   | -                                                                      |   | -  |   | -  |   | 191,053  |   | 191,053  |
|                      |                                     |   |                                                                        |   |   |   |   |   |   |   |   |
| Net (Loss) Income         | (265,106)                                |   | (2,678)                                                                     |   | (267,784) |   | 522,793  |   | 13,253  |   | 536,046  |
|                      |                                     |   |                                                                        |   |   |   |   |   |   |   |   |
| Distributions             | (100,470)                                |   | -                                                                      |   | (100,470) |   | (1,681,406) |   | -  |   | (1,681,406) |
|                      |                                     |   |                                                                        |   |   |   |   |   |   |   |   |
| Balance at March 31, 2008 | (692,755)                                |   | (6,005)                                                                     |   | (698,760) |   | (2,985,980) |   | 138,566  |   | (2,847,414) |
|                      |                                     |   |                                                                        |   |   |   |   |   |   |   |   |
| Capital Contributions     | -                                   |   | -                                                                      |   | -  |   | -  |   | 3,357  |   | 3,357  |
|                      |                                     |   |                                                                        |   |   |   |   |   |   |   |   |
| Net (Loss) Income         | (88,884)                                 |   | 7,228                                                                  |   | (81,656) |   | (224,031) |   | 5,862  |   | (218,169) |
|                      |                                     |   |                                                                        |   |   |   |   |   |   |   |   |
| Distributions             | (130,445)                                |   | -                                                                      |   | (130,445) |   | (464,192) |   | -  |   | (464,192) |
|                      |                                     |   |                                                                        |   |   |   |   |   |   |   |   |
| Balance at March 31, 2009 | (912,084)                                |   | 1,223                                                                  |   | (910,861) |   | (3,674,203) |   | 147,785  |   | (3,526,418) |
|                      |                                     |   |                                                                        |   |   |   |   |   |   |   |   |
| Net (Loss) Income         | (162,272)                                |   | (1,207)                                                                     |   | (163,479) |   | 193,368  |   | 3,476  |   | 196,844  |
|                      |                                     |   |                                                                        |   |   |   |   |   |   |   |   |
| Distributions             | (2,000)                                  |   | -                                                                      |   | (2,000) |   | (735,154) |   | -  |   | (735,154) |
|                      |                                     |   |                                                                        |   |   |   |   |   |   |   |   |
| Balance at March 31, 2010 | $  (1,076,356)                 |   | $           16  |   | $  (1,076,340) |   | $  (4,215,989) |   | $    151,261  |   | $  (4,064,728) |
|                      |                                     |   |                                                                        |   |   |   |   |   |   |   |   |
|                      |                                     |   |                                                                        |   |   |   |   |   |   |   |   |
|                      |                                     |   |                                                                        |   |   |   |   |   |   |   |   |

----

|                                                                                 | SERIES 2                                                                                                             |
|--------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|
|                                                                                 | 2010                                                                                                                 |   | 2009 |   | 2008 |
| Cash Flows from Operating Activities:                                                |                                                                                                                 |   |   |   |   |
| Net Income (Loss)                                                                    | $      248,823                                                                    |   | $       (91,691) |   | $      538,973  |
| Adjustments to Reconcile Net Income (Loss) to Net Cash Used in Operating Activities: |                                                                                                                 |   |   |   |   |
| Discount on Investment in Securities                                                 | -                                                                                                               |   | (1,198) |   | (392) |
| Gain on Sale of Project Partnerships                                                 | (331,632)                                                                                                            |   | (13,041) |   | (652,922) |
| Distribution Income                                                                  | (13,859)                                                                                                             |   | (13,586) |   | (13,326) |
| Changes in Operating Assets and Liabilities:                                         |                                                                                                                 |   |   |   |   |
| Decrease (Increase) in Interest Receivable                                           | -                                                                                                               |   | 1,610  |   | (456) |
| Increase in Payable to General Partners                                              | 40,565                                                                                                          |   | 40,342  |   | 66,563  |
| Net Cash Used in Operating Activities                                                | (56,103)                                                                                                             |   | (77,564) |   | (61,560) |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Cash Flows from Investing Activities:                                                |                                                                                                                 |   |   |   |   |
| Distributions Received from Project Partnerships                                     | 13,859                                                                                                          |   | 13,585  |   | 13,326  |
| Net Proceeds from Sale of Project Partnerships                                       | 331,632                                                                                                         |   | 13,041  |   | 652,922  |
| Redemption of Investment Securities                                                  | -                                                                                                               |   | 246,000  |   | 127,000  |
| Purchase of Investment Securities                                                    | -                                                                                                               |   | (119,758) |   | (125,166) |
| Net Cash Provided by Investing Activities                                            | 345,491                                                                                                         |   | 152,868  |   | 668,082  |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Cash Flows from Financing Activities:                                                |                                                                                                                 |   |   |   |   |
| Capital Contributions                                                                | -                                                                                                               |   | 3,357  |   | 191,053  |
| Distributions Paid to Assignees                                                      | -                                                                                                               |   | -  |   | (844,252) |
| Net Cash Provided by (Used in) Financing Activities                                  | -                                                                                                               |   | 3,357  |   | (653,199) |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Increase (Decrease) in Cash and Cash Equivalents                                     | 289,388                                                                                                         |   | 78,661  |   | (46,677) |
| Cash and Cash Equivalents at Beginning of Year                                       | 161,708                                                                                                         |   | 83,047  |   | 129,724  |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Cash and Cash Equivalents at End of Year                                             | $      451,096                                                                    |   | $      161,708  |   | $        83,047  |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Supplemental disclosure of non-cash activities:                                      |                                                                                                                 |   |   |   |   |
| Increase in Distribution Payable                                                     | $      331,632                                                                    |   | $        11,098  |   | $             277  |
| Distribution to Assignees                                                            | (331,632)                                                                                                            |   | (11,098) |   | -  |
| Decrease in Payable to General Partners                                              | -                                                                                                               |   | -  |   | (277) |
|                                                                                 | $                  -  |   | $                  -  |   | $                  -  |
|                                                                                 |                                                                                                                 |   |   |   |   |
|                                                                                 |                                                                                                                 |   |   |   |   |
|                                                                                 |                                                                                                                 |   |   |   |   |

----

|                                                                                 | SERIES 3                                                 |
|--------------------------------------------------------------------------------------|----------------------------------------------------------|
|                                                                                 | 2010                                                     |   | 2009 |   | 2008 |
| Cash Flows from Operating Activities:                                                |                                                     |   |   |   |   |
| Net (Loss) Income                                                                    | $       (83,771)      |   | $       (90,478) |   | $        42,787  |
| Adjustments to Reconcile Net (Loss) Income to Net Cash Used in Operating Activities: |                                                     |   |   |   |   |
| Discount on Investment in Securities                                                 | -                                                   |   | (1,301) |   | (392) |
| Gain on Sale of Project Partnerships                                                 | -                                                   |   | -  |   | (126,106) |
| Distribution Income                                                                  | (17,501)                                                 |   | (14,465) |   | (19,193) |
| Changes in Operating Assets and Liabilities:                                         |                                                     |   |   |   |   |
| Decrease (Increase) in Interest Receivable                                           | -                                                   |   | 1,610  |   | (456) |
| Increase in Payable to General Partners                                              | 47,025                                              |   | 36,796  |   | 41,305  |
| Net Cash Used in Operating Activities                                                | (54,247)                                                 |   | (67,838) |   | (62,055) |
|                                                                                 |                                                     |   |   |   |   |
| Cash Flows from Investing Activities:                                                |                                                     |   |   |   |   |
| Decrease in Receivable - Other                                                       | -                                                   |   | -  |   | 44,000  |
| Distributions Received from Project Partnerships                                     | 17,501                                              |   | 14,465  |   | 19,193  |
| Net Proceeds from Sale of Project Partnerships                                       | -                                                   |   | -  |   | 82,256  |
| Redemption of Investment Securities                                                  | -                                                   |   | 256,000  |   | 127,000  |
| Purchase of Investment Securities                                                    | -                                                   |   | (129,655) |   | (125,166) |
| Net Cash Provided by Investing Activities                                            | 17,501                                              |   | 140,810  |   | 147,283  |
|                                                                                 |                                                     |   |   |   |   |
| Cash Flows from Financing Activities:                                                |                                                     |   |   |   |   |
| Distributions Paid to Assignees                                                      | -                                                   |   | -  |   | (436,099) |
| Net Cash Used in Financing Activities                                                | -                                                   |   | -  |   | (436,099) |
|                                                                                 |                                                     |   |   |   |   |
| (Decrease) Increase in Cash and Cash Equivalents                                     | (36,746)                                                 |   | 72,972  |   | (350,871) |
| Cash and Cash Equivalents at Beginning of Year                                       | 148,892                                             |   | 75,920  |   | 426,791  |
|                                                                                 |                                                     |   |   |   |   |
| Cash and Cash Equivalents at End of Year                                             | $       112,146  |   | $       148,892  |   | $        75,920  |
|                                                                                 |                                                     |   |   |   |   |
|                                                                                 |                                                     |   |   |   |   |
|                                                                                 |                                                     |   |   |   |   |

----

|                                                                                 | SERIES 4                                                                                                             |
|--------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|
|                                                                                 | 2010                                                                                                                 |   | 2009 |   | 2008 |
| Cash Flows from Operating Activities:                                                |                                                                                                                 |   |   |   |   |
| Net (Loss) Income                                                                    | $       (63,104)                                                                  |   | $      236,334  |   | $      183,252  |
| Adjustments to Reconcile Net (Loss) Income to Net Cash Used in Operating Activities: |                                                                                                                 |   |   |   |   |
| Discount on Investment in Securities                                                 | -                                                                                                               |   | (1,806) |   | (550) |
| Gain on Sale of Project Partnerships                                                 | (2,000)                                                                                                              |   | (313,648) |   | (303,811) |
| Distribution Income                                                                  | (8,109)                                                                                                              |   | (12,173) |   | (14,020) |
| Changes in Operating Assets and Liabilities:                                         |                                                                                                                 |   |   |   |   |
| Decrease (Increase) in Interest Receivable                                           | -                                                                                                               |   | 2,254  |   | (637) |
| Increase in Payable to General Partners                                              | 21,614                                                                                                          |   | 27,070  |   | 63,151  |
| Net Cash Used in Operating Activities                                                | (51,599)                                                                                                             |   | (61,969) |   | (72,615) |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Cash Flows from Investing Activities:                                                |                                                                                                                 |   |   |   |   |
| Decrease in Receivable - Other                                                       | -                                                                                                               |   | -  |   | 84,500  |
| Distributions Received from Project Partnerships                                     | 8,109                                                                                                           |   | 12,173  |   | 14,020  |
| Net Proceeds from Sale of Project Partnerships                                       | 2,000                                                                                                           |   | 313,648  |   | 219,611  |
| Redemption of Investment Securities                                                  | -                                                                                                               |   | 357,000  |   | 178,000  |
| Purchase of Investment Securities                                                    | -                                                                                                               |   | (180,132) |   | (175,232) |
| Net Cash Provided by Investing Activities                                            | 10,109                                                                                                          |   | 502,689  |   | 320,899  |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Cash Flows from Financing Activities:                                                |                                                                                                                 |   |   |   |   |
| Distributions Paid to Assignees                                                      | (191,200)                                                                                                            |   | (130,693) |   | (356,814) |
| Net Cash Used in Financing Activities                                                | (191,200)                                                                                                            |   | (130,693) |   | (356,814) |
|                                                                                 |                                                                                                                 |   |   |   |   |
| (Decrease) Increase in Cash and Cash Equivalents                                     | (232,690)                                                                                                            |   | 310,027  |   | (108,530) |
| Cash and Cash Equivalents at Beginning of Year                                       | 408,013                                                                                                         |   | 97,986  |   | 206,516  |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Cash and Cash Equivalents at End of Year                                             | $      175,323                                                                    |   | $      408,013  |   | $        97,986  |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Supplemental disclosure of non-cash activities:                                      |                                                                                                                 |   |   |   |   |
| Increase in Distribution Payable                                                     | $                  -  |   | $      191,233  |   | $                  -  |
| Distribution to Assignees                                                            | -                                                                                                               |   | (191,233) |   | -  |
|                                                                                 | $                  -  |   | $                  -  |   | $                  -  |
|                                                                                 |                                                                                                                 |   |   |   |   |
|                                                                                 |                                                                                                                 |   |   |   |   |
|                                                                                 |                                                                                                                 |   |   |   |   |

----

|                                                                                 | SERIES 5                                                                                                             |
|--------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|
|                                                                                 | 2010                                                                                                                 |   | 2009 |   | 2008 |
| Cash Flows from Operating Activities:                                                |                                                                                                                 |   |   |   |   |
| Net Income (Loss)                                                                    | $      258,375                                                                    |   | $     (190,678) |   | $        38,818  |
| Adjustments to Reconcile Net Income (Loss) to Net Cash Used in Operating Activities: |                                                                                                                 |   |   |   |   |
| Discount on Investment in Securities                                                 | -                                                                                                               |   | (469) |   | (287) |
| Equity in Loss of Project Partnerships                                               | -                                                                                                               |   | 18,638  |   | 23,323  |
| Gain on Sale of Project Partnerships                                                 | (399,522)                                                                                                            |   | (3,700) |   | (228,591) |
| Distribution Income                                                                  | (26,546)                                                                                                             |   | (16,491) |   | (27,867) |
| Changes in Operating Assets and Liabilities:                                         |                                                                                                                 |   |   |   |   |
| Decrease (Increase) in Interest Receivable                                           | -                                                                                                               |   | 1,610  |   | (692) |
| Increase in Payable to General Partners                                              | 113,432                                                                                                         |   | 71,866  |   | 91,477  |
| Net Cash Used in Operating Activities                                                | (54,261)                                                                                                             |   | (119,224) |   | (103,819) |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Cash Flows from Investing Activities:                                                |                                                                                                                 |   |   |   |   |
| Distributions Received from Project Partnerships                                     | 26,546                                                                                                          |   | 18,965  |   | 30,347  |
| Net Proceeds from Sale of Project Partnerships                                       | 399,522                                                                                                         |   | 3,700  |   | 307,079  |
| Redemption of Investment Securities                                                  | -                                                                                                               |   | 175,000  |   | 101,000  |
| Purchase of Investment Securities                                                    | -                                                                                                               |   | (49,487) |   | (125,166) |
| Net Cash Provided by Investing Activities                                            | 426,068                                                                                                         |   | 148,178  |   | 313,260  |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Cash Flows from Financing Activities:                                                |                                                                                                                 |   |   |   |   |
| Distributions Paid to Assignees                                                      | -                                                                                                               |   | (179,988) |   | (127,087) |
| Net Cash Used in Financing Activities                                                | -                                                                                                               |   | (179,988) |   | (127,087) |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Increase (Decrease) in Cash and Cash Equivalents                                     | 371,807                                                                                                         |   | (151,034) |   | 82,354  |
| Cash and Cash Equivalents at Beginning of Year                                       | 107,240                                                                                                         |   | 258,274  |   | 175,920  |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Cash and Cash Equivalents at End of Year                                             | $      479,047                                                                    |   | $      107,240  |   | $      258,274  |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Supplemental disclosure of non-cash activities:                                      |                                                                                                                 |   |   |   |   |
| Increase in Distribution Payable                                                     | $      399,939                                                                    |   | $                  -  |   | $      180,282  |
| Distribution to Assignees                                                            | (399,939)                                                                                                            |   | -  |   | (180,282) |
| Increase in Receivable - Other                                                       | (152,032)                                                                                                            |   | -  |   | -  |
| Increase in Deferred Gain on Sale of Project Partnerships                            | 151,377                                                                                                         |   | -  |   | -  |
| Increase in Payable to General Partners                                              | 655                                                                                                             |   | -  |   | -  |
|                                                                                 | $                  -  |   | $                  -  |   | $                  -  |
|                                                                                 |                                                                                                                 |   |   |   |   |
|                                                                                 |                                                                                                                 |   |   |   |   |
|                                                                                 |                                                                                                                 |   |   |   |   |

----

|                                                                        | SERIES 6                                                                                                             |
|-----------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|
|                                                                        | 2010                                                                                                                 |   | 2009 |   | 2008 |
| Cash Flows from Operating Activities:                                       |                                                                                                                 |   |   |   |   |
| Net Loss                                                                    | $     (163,479)                                                                             |   | $       (81,656) |   | $     (267,784) |
| Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities: |                                                                                                                 |   |   |   |   |
| Amortization                                                                | -                                                                                                               |   | -  |   | 21,063  |
| Impairment Loss on Investment in Project Partnerships                       | -                                                                                                               |   | 22,839  |   | -  |
| Discount on Investment in Securities                                        | -                                                                                                               |   | (2,595) |   | (837) |
| Equity in Loss (Income) of Project Partnerships                             | -                                                                                                               |   | 4,692  |   | (18,738) |
| (Gain) Loss on Sale of Project Partnerships                                 | (2,000)                                                                                                              |   | (130,444) |   | 74,634  |
| Distribution Income                                                         | (29,087)                                                                                                             |   | (29,062) |   | (28,650) |
| Changes in Operating Assets and Liabilities:                                |                                                                                                                 |   |   |   |   |
| Decrease (Increase) in Interest Receivable                                  | -                                                                                                               |   | 3,865  |   | (1,330) |
| Increase in Payable to General Partners                                     | 96,838                                                                                                          |   | 88,330  |   | 105,780  |
| Net Cash Used in Operating Activities                                       | (97,728)                                                                                                             |   | (124,031) |   | (115,862) |
|                                                                        |                                                                                                                 |   |   |   |   |
| Cash Flows from Investing Activities:                                       |                                                                                                                 |   |   |   |   |
| Distributions Received from Project Partnerships                            | 29,087                                                                                                          |   | 29,761  |   | 31,770  |
| Net Proceeds from Sale of Project Partnerships                              | 2,000                                                                                                           |   | 130,444  |   | 100,471  |
| Redemption of Investment Securities                                         | -                                                                                                               |   | 563,000  |   | 279,000  |
| Purchase of Investment Securities                                           | -                                                                                                               |   | (260,300) |   | (300,398) |
| Net Cash Provided by Investing Activities                                   | 31,087                                                                                                          |   | 462,905  |   | 110,843  |
|                                                                        |                                                                                                                 |   |   |   |   |
| Cash Flows from Financing Activities:                                       |                                                                                                                 |   |   |   |   |
| Distributions Paid to Assignees                                             | (131,062)                                                                                                            |   | (39,915) |   | (60,529) |
| Net Cash Used in Financing Activities                                       | (131,062)                                                                                                            |   | (39,915) |   | (60,529) |
|                                                                        |                                                                                                                 |   |   |   |   |
| (Decrease) Increase in Cash and Cash Equivalents                            | (197,703)                                                                                                            |   | 298,959  |   | (65,548) |
| Cash and Cash Equivalents at Beginning of Year                              | 427,375                                                                                                         |   | 128,416  |   | 193,964  |
|                                                                        |                                                                                                                 |   |   |   |   |
| Cash and Cash Equivalents at End of Year                                    | $      229,672                                                                    |   | $      427,375  |   | $      128,416  |
|                                                                        |                                                                                                                 |   |   |   |   |
| Supplemental disclosure of non-cash activities:                             |                                                                                                                 |   |   |   |   |
| Increase in Distribution Payable                                            | $                  -  |   | $      131,074  |   | $        41,274  |
| Distribution to Assignees                                                   | -                                                                                                               |   | (131,074) |   | (41,274) |
|                                                                        | $                  -  |   | $                  -  |   | $                  -  |
|                                                                        |                                                                                                                 |   |   |   |   |
|                                                                        |                                                                                                                 |   |   |   |   |
|                                                                        |                                                                                                                 |   |   |   |   |

----

|                                                                                 | TOTAL SERIES 2 - 6                                                                                                   |
|--------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|
|                                                                                 | 2010                                                                                                                 |   | 2009 |   | 2008 |
| Cash Flows from Operating Activities:                                                |                                                                                                                 |   |   |   |   |
| Net Income (Loss)                                                                    | $      196,844                                                                    |   | $     (218,169) |   | $      536,046  |
| Adjustments to Reconcile Net Income (Loss) to Net Cash Used in Operating Activities: |                                                                                                                 |   |   |   |   |
| Amortization                                                                         | -                                                                                                               |   | -  |   | 21,063  |
| Impairment Loss on Investment in Project Partnerships                                | -                                                                                                               |   | 22,839  |   | -  |
| Discount on Investment in Securities                                                 | -                                                                                                               |   | (7,369) |   | (2,458) |
| Equity in Loss of Project Partnerships                                               | -                                                                                                               |   | 23,330  |   | 4,585  |
| Gain on Sale of Project Partnerships                                                 | (735,154)                                                                                                            |   | (460,833) |   | (1,236,796) |
| Distribution Income                                                                  | (95,102)                                                                                                             |   | (85,777) |   | (103,056) |
| Changes in Operating Assets and Liabilities:                                         |                                                                                                                 |   |   |   |   |
| Decrease (Increase) in Interest Receivable                                           | -                                                                                                               |   | 10,949  |   | (3,571) |
| Increase in Payable to General Partners                                              | 319,474                                                                                                         |   | 264,404  |   | 368,276  |
| Net Cash Used in Operating Activities                                                | (313,938)                                                                                                            |   | (450,626) |   | (415,911) |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Cash Flows from Investing Activities:                                                |                                                                                                                 |   |   |   |   |
| Decrease in Receivable - Other                                                       | -                                                                                                               |   | -  |   | 128,500  |
| Distributions Received from Project Partnerships                                     | 95,102                                                                                                          |   | 88,949  |   | 108,656  |
| Net Proceeds from Sale of Project Partnerships                                       | 735,154                                                                                                         |   | 460,833  |   | 1,362,339  |
| Redemption of Investment Securities                                                  | -                                                                                                               |   | 1,597,000  |   | 812,000  |
| Purchase of Investment Securities                                                    | -                                                                                                               |   | (739,332) |   | (851,128) |
| Net Cash Provided by Investing Activities                                            | 830,256                                                                                                         |   | 1,407,450  |   | 1,560,367  |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Cash Flows from Financing Activities:                                                |                                                                                                                 |   |   |   |   |
| Capital Contributions                                                                | -                                                                                                                    |   | 3,357  |   | 191,053  |
| Distributions Paid to Assignees                                                      | (322,262)                                                                                                            |   | (350,596) |   | (1,824,781) |
| Net Cash Used in Financing Activities                                                | (322,262)                                                                                                            |   | (347,239) |   | (1,633,728) |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Increase (Decrease) in Cash and Cash Equivalents                                     | 194,056                                                                                                         |   | 609,585  |   | (489,272) |
| Cash and Cash Equivalents at Beginning of Year                                       | 1,253,228                                                                                                       |   | 643,643  |   | 1,132,915  |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Cash and Cash Equivalents at End of Year                                             | $   1,447,284                                                                                    |   | $   1,253,228  |   | $      643,643  |
|                                                                                 |                                                                                                                 |   |   |   |   |
| Supplemental disclosure of non-cash activities:                                      |                                                                                                                 |   |   |   |   |
| Increase in Distribution Payable                                                     | $      731,571                                                                    |   | $      333,405  |   | $      221,833  |
| Distribution to Assignees                                                            | (731,571)                                                                                                            |   | (333,405) |   | (221,556) |
| Decrease in Payable to General Partners                                              | -                                                                                                               |   | -  |   | (277) |
| Increase in Receivable - Other                                                       | (152,032)                                                                                                            |   | -  |   | -  |
| Increase in Deferred Gain on Sale of Project Partnerships                            | 151,377                                                                                                         |   | -  |   | -  |
| Increase in Payable to General Partners                                              | 655                                                                                                             |   | -  |   | -  |
|                                                                                 | $                  -  |   | $                  -  |   | $                  -  |
|                                                                                 |                                                                                                                 |   |   |   |   |
|                                                                                 |                                                                                                                 |   |   |   |   |
|                                                                                 |                                                                                                                 |   |   |   |   |

----

| 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                            |   | 2008                            |
|----------|---------------------------------|--------|---------------------------------|--------|---------------------------------|
| Series 2 | $    41,341 |   | $    47,611 |   | $    59,534 |
| Series 3 | 37,732                          |   | 37,995                          |   | 43,194                          |
| Series 4 | 23,438                          |   | 33,100                          |   | 60,199                          |
| Series 5 | 73,617                          |   | 77,196                          |   | 86,397                          |
| Series 6 | 81,399                          |   | 91,792                          |   | 100,623                         |
| Total    | $  257,527            |   | $  287,694            |   | $  349,947            |

|     | 2010                            |   | 2009                            |   | 2008                            |
|----------|---------------------------------|--------|---------------------------------|--------|---------------------------------|
| Series 2 | $    43,142 |   | $    54,129 |   | $    63,960 |
| Series 3 | 43,457                          |   | 46,497                          |   | 53,244                          |
| Series 4 | 27,458                          |   | 39,332                          |   | 68,200                          |
| Series 5 | 68,984                          |   | 86,794                          |   | 95,494                          |
| Series 6 | 84,018                          |   | 99,847                          |   | 112,863                         |
| Total    | $  267,059            |   | $  326,599            |   | $  393,761            |

|     | March 31, 2010                               |   | March 31, 2009                               |
|----------|----------------------------------------------|--------|----------------------------------------------|
| Series 2 | $      862,743 |   | $      822,178 |
| Series 3 | 731,691                                      |   | 684,666                                      |
| Series 4 | 894,624                                      |   | 873,010                                      |
| Series 5 | 959,877                                      |   | 845,790                                      |
| Series 6 | 1,304,557                                    |   | 1,207,719                                    |
| Total    | $  4,753,492                       |   | $  4,433,363                       |

----

|  As of March 31, 2010, Gateway had acquired a 99% interest in the profits, losses, and Tax Credits as a limited partner in Project Partnerships (Series 2 - 12, Series 3 - 15, and Series 4 - 9) 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                                                                                                 |
|-----------------------------------------------|----------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------|
|                                          | March 31,                                                                                                |   | March 31,                                                                                                |   | March 31,                                                                                                |   | March 31, |   | March 31, |   | March 31, |
|                                          | 2010                                                                                                     |   | 2009                                                                                                     |   | 2010                                                                                                     |   | 2009 |   | 2010 |   | 2009 |
| Capital Contributions to Project Partnerships |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| and purchase price paid for limited partner   |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| interests in Project Partnerships             | $ 2,073,022                                                                                         |   | $ 3,159,579                                                                                         |   | $ 2,494,974                                                                                         |   | $   2,494,974  |   | $ 1,402,420  |   | $   1,556,420  |
|                                          |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| Cumulative equity in losses of Project        |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| Partnerships (1)                              | (2,162,502)                                                                                              |   | (3,298,001)                                                                                              |   | (2,675,808)                                                                                              |   | (2,675,808) |   | (1,479,274) |   | (1,645,185) |
|                                          |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| Cumulative distributions received from        |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| Project Partnerships                          | (34,090)                                                                                                 |   | (59,212)                                                                                                 |   | (93,673)                                                                                                 |   | (93,673) |   | (42,900) |   | (45,823) |
|                                          |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| Investment in Project Partnerships before     |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| Adjustment                                    | (123,570)                                                                                                |   | (197,634)                                                                                                |   | (274,507)                                                                                                |   | (274,507) |   | (119,754) |   | (134,588) |
|                                          |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| Excess of investment cost over the underlying |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| assets acquired:                              |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| Acquisition fees and expenses                 | 161,803                                                                                             |   | 254,188                                                                                             |   | 318,739                                                                                             |   | 318,739  |   | 147,412  |   | 164,485  |
| Accumulated amortization of acquisition       |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| fees and expenses                             | (38,233)                                                                                                 |   | (56,554)                                                                                                 |   | (44,232)                                                                                                 |   | (44,232) |   | (27,658) |   | (29,897) |
|                                          |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| 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 $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; and cumulative suspended losses of $5,135,273 in Series 2, $5,884,963 in Series 3, and $2,922,713 in Series 4 for the year ended March 31, 2009 are not included. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  As of March 31, 2010, Gateway had acquired a 99% interest in the profits, losses, and Tax Credits as a limited partner in Project Partnerships (Series 5 - 21 and Series 6 - 29) 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                                                                                       |
|-----------------------------------------------|----------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------|
|                                          | March 31,                                                                                                |   | March 31,                                                                                                |   | March 31,                                                                                                |   | March 31, |   | March 31, |   | March 31, |
|                                          | 2010                                                                                                     |   | 2009                                                                                                     |   | 2010                                                                                                     |   | 2009 |   | 2010 |   | 2009 |
| Capital Contributions to Project Partnerships |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| and purchase price paid for limited partner   |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| interests in Project Partnerships             | $ 3,729,876                                                                                         |   | $ 5,097,323                                                                                         |   | $ 5,424,795                                                                                         |   | $ 5,424,795  |   | $ 15,125,087  |   | $ 17,733,091  |
|                                          |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| Cumulative equity in losses of Project        |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| Partnerships (1)                              | (3,886,172)                                                                                              |   | (5,329,389)                                                                                              |   | (5,590,369)                                                                                              |   | (5,590,369) |   | (15,794,125) |   | (18,538,752) |
|                                          |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| Cumulative distributions received from        |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| Project Partnerships                          | (121,537)                                                                                                |   | (160,153)                                                                                                |   | (191,505)                                                                                                |   | (191,505) |   | (483,705) |   | (550,366) |
|                                          |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| Investment in Project Partnerships before     |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| Adjustment                                    | (277,833)                                                                                                |   | (392,219)                                                                                                |   | (357,079)                                                                                                |   | (357,079) |   | (1,152,743) |   | (1,356,027) |
|                                          |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| Excess of investment cost over the underlying |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| assets acquired:                              |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| Acquisition fees and expenses                 | 385,181                                                                                             |   | 531,092                                                                                             |   | 557,032                                                                                             |   | 557,032  |   | 1,570,167  |   | 1,825,536  |
| Accumulated amortization of acquisition       |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| fees and expenses                             | (107,348)                                                                                                |   | (138,873)                                                                                                |   | (177,114)                                                                                                |   | (177,114) |   | (394,585) |   | (446,670) |
|                                          |                                                                                                     |   |                                                                                                     |   |                                                                                                     |   |   |   |   |   |   |
| 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 $6,427,740 in Series 5 and $5,680,549 in Series 6 for the year ended March 31, 2010; and cumulative suspended losses of $7,971,901 in Series 5 and $5,086,927 in Series 6 for the year ended March 31, 2009 are not included. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                    | SERIES 2                                                                                                                         |
|-----------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|
|                                    | 2009                                                                                                                             |   | 2008 |   | 2007 |
| SUMMARIZED BALANCE SHEETS               |                                                                                                                             |   |   |   |   |
| Assets:                                 |                                                                                                                             |   |   |   |   |
| Current assets                          | $     1,083,508                                                                                    |   | $     1,589,125  |   | $     1,589,592  |
| Investment properties, net              | 5,567,844                                                                                                                   |   | 8,678,839  |   | 10,034,090  |
| Other assets                            | 27,391                                                                                                                      |   | 34,351  |   | 45,567  |
| Total assets                            | $     6,678,743                                                                                    |   | $   10,302,315  |   | $   11,669,249  |
|                                    |                                                                                                                             |   |   |   |   |
| Liabilities and Partners' Deficit:      |                                                                                                                             |   |   |   |   |
| Current liabilities                     | $        489,623                                                                    |   | $        570,593  |   | $        553,779  |
| Long-term debt                          | 10,024,081                                                                                                                  |   | 15,302,625  |   | 16,346,779  |
| Total liabilities                       | 10,513,704                                                                                                                  |   | 15,873,218  |   | 16,900,558  |
|                                    |                                                                                                                             |   |   |   |   |
| Partners' deficit                       |                                                                                                                             |   |   |   |   |
| Limited Partner                         | (3,547,915)                                                                                                                      |   | (5,407,127) |   | (5,103,100) |
| General Partners                        | (287,046)                                                                                                                        |   | (163,776) |   | (128,209) |
| Total partners' deficit                 | (3,834,961)                                                                                                                      |   | (5,570,903) |   | (5,231,309) |
|                                    |                                                                                                                             |   |   |   |   |
| Total liabilities and partners' deficit | $     6,678,743                                                                                    |   | $   10,302,315  |   | $   11,669,249  |
|                                    |                                                                                                                             |   |   |   |   |
| SUMMARIZED STATEMENTS OF OPERATIONS     |
| Rental and other income                 | $     2,177,937                                                                                    |   | $     3,289,010  |   | $     3,463,890  |
| Expenses:                               |                                                                                                                             |   |   |   |   |
| Operating expenses                      | 1,249,692                                                                                                                   |   | 1,778,270  |   | 1,705,488  |
| Interest expense                        | 809,679                                                                                                                     |   | 1,352,564  |   | 1,450,643  |
| Depreciation and amortization           | 391,940                                                                                                                     |   | 597,729  |   | 655,788  |
|                                    |                                                                                                                             |   |   |   |   |
| Total expenses                          | 2,451,311                                                                                                                   |   | 3,728,563  |   | 3,811,919  |
|                                    |                                                                                                                             |   |   |   |   |
| Net loss                                | $      (273,374)                                                                                   |   | $      (439,553) |   | $       (348,029) |
|                                    |                                                                                                                             |   |   |   |   |
| Other partners' share of net loss       | $          (2,734)                                                             |   | $          (4,396) |   | $           (3,480) |
|                                    |                                                                                                                             |   |   |   |   |
| Gateway's share of net loss             | $      (270,640)                                                                                   |   | $      (435,157) |   | $       (344,549) |
| Suspended losses                        | 270,640                                                                                                                     |   | 435,157  |   | 344,549  |
|                                    |                                                                                                                             |   |   |   |   |
| Equity in Loss of Project Partnerships  | $                    -  |   | $                    -  |   | $                    -  |
|                                    |                                                                                                                             |   |   |   |   |

----

|                                    | SERIES 3                                                                                                                         |
|-----------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|
|                                    | 2009                                                                                                                             |   | 2008 |   | 2007 |
| SUMMARIZED BALANCE SHEETS               |                                                                                                                             |   |   |   |   |
| Assets:                                 |                                                                                                                             |   |   |   |   |
| Current assets                          | $     1,635,209                                                                                    |   | $     1,650,727  |   | $     1,500,209  |
| Investment properties, net              | 4,431,231                                                                                                                   |   | 4,988,440  |   | 5,592,941  |
| Other assets                            | 43,591                                                                                                                      |   | 36,462  |   | 47,779  |
| Total assets                            | $     6,110,031                                                                                    |   | $     6,675,629  |   | $     7,140,929  |
|                                    |                                                                                                                             |   |   |   |   |
| Liabilities and Partners' Deficit:      |                                                                                                                             |   |   |   |   |
| Current liabilities                     | $        310,418                                                                    |   | $        379,329  |   | $        292,731  |
| Long-term debt                          | 12,502,110                                                                                                                  |   | 12,628,696  |   | 12,743,481  |
| Total liabilities                       | 12,812,528                                                                                                                  |   | 13,008,025  |   | 13,036,212  |
|                                    |                                                                                                                             |   |   |   |   |
| Partners' equity (deficit)              |                                                                                                                             |   |   |   |   |
| Limited Partner                         | (6,883,450)                                                                                                                      |   | (6,532,910) |   | (6,118,197) |
| General Partners                        | 180,953                                                                                                                     |   | 200,514  |   | 222,914  |
| Total partners' deficit                 | (6,702,497)                                                                                                                      |   | (6,332,396) |   | (5,895,283) |
|                                    |                                                                                                                             |   |   |   |   |
| Total liabilities and partners' deficit | $     6,110,031                                                                                    |   | $     6,675,629  |   | $     7,140,929  |
|                                    |                                                                                                                             |   |   |   |   |
| SUMMARIZED STATEMENTS OF OPERATIONS     |
| Rental and other income                 | $     2,924,525                                                                                    |   | $     2,878,664  |   | $     2,857,452  |
| Expenses:                               |                                                                                                                             |   |   |   |   |
| Operating expenses                      | 1,549,414                                                                                                                   |   | 1,558,219  |   | 1,435,006  |
| Interest expense                        | 1,062,563                                                                                                                   |   | 1,074,974  |   | 1,127,979  |
| Depreciation and amortization           | 651,907                                                                                                                     |   | 648,659  |   | 647,338  |
|                                    |                                                                                                                             |   |   |   |   |
| Total expenses                          | 3,263,884                                                                                                                   |   | 3,281,852  |   | 3,210,323  |
|                                    |                                                                                                                             |   |   |   |   |
| Net loss                                | $      (339,359)                                                                                   |   | $      (403,188) |   | $       (352,871) |
|                                    |                                                                                                                             |   |   |   |   |
| Other partners' share of net loss       | $          (3,394)                                                             |   | $          (4,032) |   | $           (3,529) |
|                                    |                                                                                                                             |   |   |   |   |
| Gateway's share of net loss             | $      (335,965)                                                                                   |   | $      (399,156) |   | $       (349,342) |
| Suspended losses                        | 335,965                                                                                                                     |   | 399,156  |   | 349,342  |
|                                    |                                                                                                                             |   |   |   |   |
| Equity in Loss of Project Partnerships  | $                    -  |   | $                    -  |   | $                    -  |
|                                    |                                                                                                                             |   |   |   |   |

----

|                                    | SERIES 4                                                                                                                         |
|-----------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|
|                                    | 2009                                                                                                                             |   | 2008 |   | 2007 |
| SUMMARIZED BALANCE SHEETS               |                                                                                                                             |   |   |   |   |
| Assets:                                 |                                                                                                                             |   |   |   |   |
| Current assets                          | $     1,027,191                                                                                    |   | $        994,709  |   | $      1,615,179  |
| Investment properties, net              | 3,663,777                                                                                                                   |   | 4,316,094  |   | 7,403,109  |
| Other assets                            | 26,943                                                                                                                      |   | 19,260  |   | 36,677  |
| Total assets                            | $     4,717,911                                                                                    |   | $     5,330,063  |   | $      9,054,965  |
|                                    |                                                                                                                             |   |   |   |   |
| Liabilities and Partners' Deficit:      |                                                                                                                             |   |   |   |   |
| Current liabilities                     | $        206,962                                                                    |   | $        213,087  |   | $         322,304  |
| Long-term debt                          | 7,246,783                                                                                                                   |   | 8,093,519  |   | 13,429,392  |
| Total liabilities                       | 7,453,745                                                                                                                   |   | 8,306,606  |   | 13,751,696  |
|                                    |                                                                                                                             |   |   |   |   |
| Partners' equity (deficit)              |                                                                                                                             |   |   |   |   |
| Limited Partner                         | (2,859,535)                                                                                                                      |   | (3,104,564) |   | (4,779,188) |
| General Partners                        | 123,701                                                                                                                     |   | 128,021  |   | 82,457  |
| Total partners' deficit                 | (2,735,834)                                                                                                                      |   | (2,976,543) |   | (4,696,731) |
|                                    |                                                                                                                             |   |   |   |   |
| Total liabilities and partners' deficit | $     4,717,911                                                                                    |   | $     5,330,063  |   | $      9,054,965  |
|                                    |                                                                                                                             |   |   |   |   |
| SUMMARIZED STATEMENTS OF OPERATIONS     |
| Rental and other income                 | $     1,561,071                                                                                    |   | $     1,760,177  |   | $      2,932,959  |
| Expenses:                               |                                                                                                                             |   |   |   |   |
| Operating expenses                      | 941,795                                                                                                                     |   | 984,614  |   | 1,488,532  |
| Interest expense                        | 483,205                                                                                                                     |   | 642,073  |   | 1,150,023  |
| Depreciation and amortization           | 320,168                                                                                                                     |   | 358,055  |   | 595,028  |
|                                    |                                                                                                                             |   |   |   |   |
| Total expenses                          | 1,745,168                                                                                                                   |   | 1,984,742  |   | 3,233,583  |
|                                    |                                                                                                                             |   |   |   |   |
| Net loss                                | $      (184,097)                                                                                   |   | $      (224,565) |   | $       (300,624) |
|                                    |                                                                                                                             |   |   |   |   |
| Other partners' share of net loss       | $          (4,535)                                                             |   | $          (4,431) |   | $           (3,659) |
|                                    |                                                                                                                             |   |   |   |   |
| Gateway's share of net loss             | $      (179,562)                                                                                   |   | $      (220,134) |   | $       (296,965) |
| Suspended losses                        | 179,562                                                                                                                     |   | 220,134  |   | 296,965  |
|                                    |                                                                                                                             |   |   |   |   |
| Equity in Loss of Project Partnerships  | $                    -  |   | $                    -  |   | $                     -  |
|                                    |                                                                                                                             |   |   |   |   |

----

|                                    | SERIES 5                                                                                                                         |
|-----------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|
|                                    | 2009                                                                                                                             |   | 2008 |   | 2007 |
| SUMMARIZED BALANCE SHEETS               |                                                                                                                             |   |   |   |   |
| Assets:                                 |                                                                                                                             |   |   |   |   |
| Current assets                          | $     2,350,783                                                                                    |   | $     2,954,696  |   | $     2,876,495  |
| Investment properties, net              | 10,104,393                                                                                                                  |   | 14,779,748  |   | 15,819,070  |
| Other assets                            | 34,854                                                                                                                      |   | 24,928  |   | 36,148  |
| Total assets                            | $   12,490,030                                                                                               |   | $   17,759,372  |   | $   18,731,713  |
|                                    |                                                                                                                             |   |   |   |   |
| Liabilities and Partners' Deficit:      |                                                                                                                             |   |   |   |   |
| Current liabilities                     | $        582,996                                                                    |   | $        796,031  |   | $        698,539  |
| Long-term debt                          | 18,858,682                                                                                                                  |   | 25,741,575  |   | 25,905,754  |
| Total liabilities                       | 19,441,678                                                                                                                  |   | 26,537,606  |   | 26,604,293  |
|                                    |                                                                                                                             |   |   |   |   |
| Partners' deficit                       |                                                                                                                             |   |   |   |   |
| Limited Partner                         | (6,791,269)                                                                                                                      |   | (8,488,560) |   | (7,622,533) |
| General Partners                        | (160,379)                                                                                                                        |   | (289,674) |   | (250,047) |
| Total partners' deficit                 | (6,951,648)                                                                                                                      |   | (8,778,234) |   | (7,872,580) |
|                                    |                                                                                                                             |   |   |   |   |
| Total liabilities and partners' deficit | $   12,490,030                                                                                               |   | $   17,759,372  |   | $   18,731,713  |
|                                    |                                                                                                                             |   |   |   |   |
| SUMMARIZED STATEMENTS OF OPERATIONS     |
| Rental and other income                 | $     4,219,474                                                                                    |   | $     5,267,688  |   | $     5,277,941  |
| Expenses:                               |                                                                                                                             |   |   |   |   |
| Operating expenses                      | 2,455,734                                                                                                                   |   | 3,266,656  |   | 2,906,810  |
| Interest expense                        | 1,435,691                                                                                                                   |   | 1,782,720  |   | 1,938,360  |
| Depreciation and amortization           | 803,244                                                                                                                     |   | 1,067,137  |   | 1,066,122  |
|                                    |                                                                                                                             |   |   |   |   |
| Total expenses                          | 4,694,669                                                                                                                   |   | 6,116,513  |   | 5,911,292  |
|                                    |                                                                                                                             |   |   |   |   |
| Net loss                                | $      (475,195)                                                                                   |   | $      (848,825) |   | $       (633,351) |
|                                    |                                                                                                                             |   |   |   |   |
| Other partners' share of net loss       | $          (4,752)                                                             |   | $          (8,488) |   | $           (6,334) |
|                                    |                                                                                                                             |   |   |   |   |
| Gateway's share of net loss             | $      (470,443)                                                                                   |   | $      (840,337) |   | $       (627,017) |
| Suspended losses                        | 470,443                                                                                                                     |   | 821,699  |   | 603,694  |
|                                    |                                                                                                                             |   |   |   |   |
| Equity in Loss of Project Partnerships  | $                    -  |   | $        (18,638) |   | $         (23,323) |
|                                    |                                                                                                                             |   |   |   |   |

----

|                                            | SERIES 6                                                                                                                         |
|-------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|
|                                            | 2009                                                                                                                             |   | 2008 |   | 2007 |
| SUMMARIZED BALANCE SHEETS                       |                                                                                                                             |   |   |   |   |
| Assets:                                         |                                                                                                                             |   |   |   |   |
| Current assets                                  | $     3,643,304                                                                                    |   | $     3,650,347  |   | $     4,270,757  |
| Investment properties, net                      | 17,281,496                                                                                                                  |   | 18,149,356  |   | 22,920,098  |
| Other assets                                    | 64,624                                                                                                                      |   | 32,733  |   | 47,830  |
| Total assets                                    | $   20,989,424                                                                                               |   | $   21,832,436  |   | $   27,238,685  |
|                                            |                                                                                                                             |   |   |   |   |
| Liabilities and Partners' Deficit:              |                                                                                                                             |   |   |   |   |
| Current liabilities                             | $        790,886                                                                    |   | $        756,388  |   | $        846,467  |
| Long-term debt                                  | 27,019,788                                                                                                                  |   | 27,229,395  |   | 32,940,725  |
| Total liabilities                               | 27,810,674                                                                                                                  |   | 27,985,783  |   | 33,787,192  |
|                                            |                                                                                                                             |   |   |   |   |
| Partners' deficit                               |                                                                                                                             |   |   |   |   |
| Limited Partner                                 | (6,207,861)                                                                                                                      |   | (5,585,754) |   | (5,936,305) |
| General Partners                                | (613,389)                                                                                                                        |   | (567,593) |   | (612,202) |
| Total partners' deficit                         | (6,821,250)                                                                                                                      |   | (6,153,347) |   | (6,548,507) |
|                                            |                                                                                                                             |   |   |   |   |
| Total liabilities and partners' deficit         | $   20,989,424                                                                                               |   | $   21,832,436  |   | $   27,238,685  |
|                                            |                                                                                                                             |   |   |   |   |
| SUMMARIZED STATEMENTS OF OPERATIONS             |
| Rental and other income                         | $     5,678,400                                                                                    |   | $     5,557,040  |   | $     6,687,151  |
| Expenses:                                       |                                                                                                                             |   |   |   |   |
| Operating expenses                              | 3,172,861                                                                                                                   |   | 3,024,461  |   | 3,350,533  |
| Interest expense                                | 2,039,567                                                                                                                   |   | 2,083,243  |   | 2,482,317  |
| Depreciation and amortization                   | 1,065,991                                                                                                                   |   | 1,077,376  |   | 1,312,782  |
|                                            |                                                                                                                             |   |   |   |   |
| Total expenses                                  | 6,278,419                                                                                                                   |   | 6,185,080  |   | 7,145,632  |
|                                            |                                                                                                                             |   |   |   |   |
| Net loss                                        | $      (600,019)                                                                                   |   | $      (628,040) |   | $       (458,481) |
|                                            |                                                                                                                             |   |   |   |   |
| Other partners' share of net (loss) income      | $          (6,396)                                                             |   | $               743  |   | $           (7,025) |
|                                            |                                                                                                                             |   |   |   |   |
| Gateway's share of net loss                     | $      (593,623)                                                                                   |   | $      (628,783) |   | $       (451,456) |
| Suspended losses                                | 593,623                                                                                                                     |   | 624,091  |   | 470,194  |
|                                            |                                                                                                                             |   |   |   |   |
| Equity in (Loss) Income of Project Partnerships | $                    -  |   | $          (4,692) |   | $          18,738  |
|                                            |                                                                                                                             |   |   |   |   |

----

|                                    | TOTAL SERIES 2 - 6                                                                                                               |
|-----------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|
|                                    | 2009                                                                                                                             |   | 2008 |   | 2007 |
| SUMMARIZED BALANCE SHEETS               |                                                                                                                             |   |   |   |   |
| Assets:                                 |                                                                                                                             |   |   |   |   |
| Current assets                          | $     9,739,995                                                                                    |   | $   10,839,604  |   | $   11,852,232  |
| Investment properties, net              | 41,048,741                                                                                                                  |   | 50,912,477  |   | 61,769,308  |
| Other assets                            | 197,403                                                                                                                     |   | 147,734  |   | 214,001  |
| Total assets                            | $   50,986,139                                                                                               |   | $   61,899,815  |   | $   73,835,541  |
|                                    |                                                                                                                             |   |   |   |   |
| Liabilities and Partners' Deficit:      |                                                                                                                             |   |   |   |   |
| Current liabilities                     | $     2,380,885                                                                                    |   | $     2,715,428  |   | $     2,713,820  |
| Long-term debt                          | 75,651,444                                                                                                                  |   | 88,995,810  |   | 101,366,131  |
| Total liabilities                       | 78,032,329                                                                                                                  |   | 91,711,238  |   | 104,079,951  |
|                                    |                                                                                                                             |   |   |   |   |
| Partners' deficit                       |                                                                                                                             |   |   |   |   |
| Limited Partner                         | (26,290,030)                                                                                                                     |   | (29,118,915) |   | (29,559,323) |
| General Partners                        | (756,160)                                                                                                                        |   | (692,508) |   | (685,087) |
| Total partners' deficit                 | (27,046,190)                                                                                                                     |   | (29,811,423) |   | (30,244,410) |
|                                    |                                                                                                                             |   |   |   |   |
| Total liabilities and partners' deficit | $   50,986,139                                                                                               |   | $   61,899,815  |   | $   73,835,541  |
|                                    |                                                                                                                             |   |   |   |   |
| SUMMARIZED STATEMENTS OF OPERATIONS     |
| Rental and other income                 | $   16,561,407                                                                                               |   | $   18,752,579  |   | $   21,219,393  |
| Expenses:                               |                                                                                                                             |   |   |   |   |
| Operating expenses                      | 9,369,496                                                                                                                   |   | 10,612,220  |   | 10,886,369  |
| Interest expense                        | 5,830,705                                                                                                                   |   | 6,935,574  |   | 8,149,322  |
| Depreciation and amortization           | 3,233,250                                                                                                                   |   | 3,748,956  |   | 4,277,058  |
|                                    |                                                                                                                             |   |   |   |   |
| Total expenses                          | 18,433,451                                                                                                                  |   | 21,296,750  |   | 23,312,749  |
|                                    |                                                                                                                             |   |   |   |   |
| Net loss                                | $   (1,872,044)                                                                                                   |   | $   (2,544,171) |   | $    (2,093,356) |
|                                    |                                                                                                                             |   |   |   |   |
| Other partners' share of net loss       | $        (21,811)                                                                        |   | $        (20,604) |   | $         (24,027) |
|                                    |                                                                                                                             |   |   |   |   |
| Gateway's share of net loss             | $   (1,850,233)                                                                                                   |   | $   (2,523,567) |   | $    (2,069,329) |
| Suspended losses                        | 1,850,233                                                                                                                   |   | 2,500,237  |   | 2,064,744  |
|                                    |                                                                                                                             |   |   |   |   |
| Equity in Loss of Project Partnerships  | $                    -  |   | $        (23,330) |   | $           (4,585) |
|                                    |                                                                                                                             |   |   |   |   |

----

|     | Equity Per Project Partnership |   | Equity Per Gateway     |
|----------|--------------------------------|--------|------------------------|
| Series 2 | $  (3,547,915)       |   | $  (123,570) |
| Series 3 | (6,883,450)                    |   | (274,507)              |
| Series 4 | (2,859,535)                    |   | (119,754)              |
| Series 5 | (6,791,269)                    |   | (277,833)              |
| Series 6 | (6,207,861)                    |   | (357,079)              |

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

| Transaction    |                   |                     | Net Proceeds            | Gain (Loss)                          |
|----------------|------------------------|--------------------------|-------------------------|--------------------------------------|
| Month / Year   | Project Partnership    | Net Proceeds             | Per BAC                 | on Disposal                          |
| September 2008 | Prairie Apartments     | $  7,741  | $  1.26  | $    7,741  |
|           | Other, net (see below) | -                   | -                  | 5,300                           |
|           |                   |                     |                    | $  13,041             |

----

| Transaction    |                    |                      | Net Proceeds            | Gain (Loss)                           |
|----------------|-------------------------|---------------------------|-------------------------|---------------------------------------|
| Month / Year   | Project Partnership     | Net Proceeds              | Per BAC                 | on Disposal                           |
| December 2008  | Williston Properties    | $  43,512  | $  6.29  | $    43,512  |
| December 2008  | St. George Properties   | 43,592               | 6.30               | 43,592                           |
| December 2008  | Jonesville Manor        | 79,579               | 11.51              | 79,499                           |
| September 2008 | Rural Development Group | 24,550               | 3.55               | 24,550                           |
| June 2008      | Norton Green            | 120,977              | 17.49              | 120,645                          |
|           | Other, net (see below)  | -                    | -                  | 1,850                            |
|           |                    |                      |                    | $  313,648             |

| Transaction  |                   |                                                                 | Net Proceeds                                             | Gain (Loss)              |
|--------------|------------------------|----------------------------------------------------------------------|----------------------------------------------------------|--------------------------|
| Month / Year | Project Partnership    | Net Proceeds                                                         | Per BAC                                                  | on Disposal              |
|         | Other, net (see below) | $          -  | $        -  | $  3,700  |
|         |                   |                                                                 |                                                     | $  3,700  |

----

| Transaction    |                   |                      | Net Proceeds            | Gain (Loss)                           |
|----------------|------------------------|---------------------------|-------------------------|---------------------------------------|
| Month / Year   | Project Partnership    | Net Proceeds              | Per BAC                 | on Disposal                           |
| December 2008  | Newport Village        | $  46,919  | $  4.64  | $    46,369  |
| December 2008  | Blacksburg Terrace     | 47,490               | 4.70               | 47,410                           |
| September 2008 | Spruce Apartments      | 9,442                | 0.93               | 9,442                            |
| September 2008 | Shannon Apartments     | 7,741                | 0.77               | 7,741                            |
| September 2008 | Cornell Apartments     | 9,741                | 0.96               | 9,741                            |
| September 2008 | Winter Park Apartments | 9,741                | 0.96               | 9,741                            |
|           |                   |                      |                    | $  130,444             |

| Transaction  |                  |                       | Net Proceeds             | Gain (Loss)                |
|--------------|-----------------------|----------------------------|--------------------------|----------------------------|
| Month / Year | Project Partnership   | Net Proceeds               | Per BAC                  | on Disposal                |
| October 2007 | Inverness Club, Ltd.  | $  309,188  | $  50.39  | $  308,748  |
| October 2007 | Lakeshore Apartments  | 105,432               | 17.18               | 105,324               |
| April 2007   | Claxton Elderly, Ltd. | 56,043                | 9.13                | 56,043                |
| April 2007   | Lake Park, Ltd.       | 183,026               | 29.83               | 182,807               |
|         |                  |                       |                     | $  652,922  |

| Claxton Elderly, Ltd.             | $   42,775  |
|-----------------------------------|---------------------------------|
| Lake Park, Ltd.                   | 148,278                    |
|                              |                            |
| Total Re-syndication contribution | $ 191,053                  |

| Transaction   |                          |                      | Net Proceeds             | Gain (Loss)                           |
|---------------|-------------------------------|---------------------------|--------------------------|---------------------------------------|
| Month / Year  | Project Partnership           | Net Proceeds              | Per BAC                  | on Disposal                           |
| December 2007 | Sunchase II, Ltd.             | $  73,000  | $  13.38  | $    74,700  |
| December 2007 | Logansport Seniors Apartments | 6,000                | 1.10                | 7,371                            |
| March 2007    | Belmont Senior Apts., Ltd.    | -                    | -                   | 43,850                           |
|          | Other, net (see below)        | -                    | -                   | 185                              |
|          |                          |                      |                     | $  126,106             |

----

| Transaction   |                                    | Net                                                                  | Net Proceeds                                       | Gain (Loss)                            |
|---------------|-----------------------------------------|----------------------------------------------------------------------|----------------------------------------------------|----------------------------------------|
| Month / Year  | Project Partnership                     | Proceeds                                                             | Per BAC                                            | on Disposal                            |
| February 2008 | Chestnut Apartments                     | $          -  | $       -  | $     (2,000) |
| December 2007 | Oaks Apartments                         | 6,000                                                           | 0.87                                          | 7,737                             |
| December 2007 | Tarpon Heights Apartments               | 10,000                                                          | 1.45                                          | 11,653                            |
| December 2007 | Sonora Seniors Apartments, Ltd.         | 6,000                                                           | 0.87                                          | 7,737                             |
| December 2007 | Fredericksburg Seniors Apartments, Ltd. | 10,000                                                          | 1.45                                          | 11,578                            |
| December 2007 | Ozona Seniors, Ltd.                     | 4,000                                                           | 0.58                                          | 5,587                             |
| December 2007 | Brackettville Seniors Apartments, Ltd.  | 6,000                                                           | 0.87                                          | 7,663                             |
| December 2007 | Timpson Seniors Apartments, Ltd.        | 5,000                                                           | 0.72                                          | 6,738                             |
| November 2007 | Jasper Villas Apartments                | 99,700                                                          | 14.42                                         | 99,700                            |
| October 2007  | Eudora Senior Housing                   | 63,379                                                          | 9.17                                          | 63,218                            |
| March 2007    | Edmonton Senior, Ltd.                   | -                                                               | -                                             | 38,350                            |
| March 2007    | Owingsville Senior, Ltd.                | -                                                               | -                                             | 45,850                            |
|          |                                    |                                                                 |                                               | $  303,811              |

| Transaction    |                                   |                      | Net Proceeds            | Gain (Loss)                            |
|----------------|----------------------------------------|---------------------------|-------------------------|----------------------------------------|
| Month / Year   | Project Partnership                    | Net Proceeds              | Per BAC                 | on Disposal                            |
| November 2007  | Zapata Housing, Ltd.                   | $  74,935  | $  8.70  | $     (3,880) |
| October 2007   | Pemberton Village II, Ltd.             | 53,560               | 6.22               | 53,560                            |
| October 2007   | Magic Circle II, Ltd.                  | 51,787               | 6.01               | 51,787                            |
| September 2007 | Redmont II, Ltd.                       | 16,575               | 1.92               | 16,575                            |
| September 2007 | Fox Ridge Apartments, Ltd.             | 16,650               | 1.93               | 16,650                            |
| September 2007 | Country Place Apartments - Georgetown  | 46,736               | 5.42               | 46,736                            |
| September 2007 | Country Place Apartments - Portland II | 47,163               | 5.47               | 47,163                            |
|           |                                   |                      |                    | $  228,591              |

----

| Transaction   |                            | Net                       | Net Proceeds            | Gain (Loss)                      |
|---------------|---------------------------------|---------------------------|-------------------------|----------------------------------|
| Month / Year  | Project Partnership             | Proceeds                  | Per BAC                 | on Disposal                      |
| December 2007 | Hardy Senior Citizen Apartments | $  39,837  | $  3.94  | $    (9,834) |
| August 2007   | Autumn Village II               | 60,837               | 5.99               | (64,800)                         |
|          |                            |                      |                    | $  (74,634)            |

| SERIES 2                                                         | 2010                                                                                                           |   | 2009                                                                                                     |   | 2008                                                                                                           |
|------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------|
| Net Income (Loss) per Financial Statements                       | $     248,823                                                                    |   | $    (91,691)                                                                        |   | $     538,973                                                                    |
|                                                             |                                                                                                           |   |                                                                                                     |   |                                                                                                           |
| Equity in Loss of Project Partnerships for tax purposes          |                                                                                                           |   |                                                                                                     |   |                                                                                                           |
| in excess of losses for financial statement purposes             | (423,498)                                                                                                      |   | (527,658)                                                                                                |   | (431,720)                                                                                                      |
|                                                             |                                                                                                           |   |                                                                                                     |   |                                                                                                           |
| Adjustments to convert March 31, fiscal year end                 |                                                                                                           |   |                                                                                                     |   |                                                                                                           |
| to December 31, taxable year end                                 | (6,096)                                                                                                        |   | 3,806                                                                                               |   | (1,709)                                                                                                        |
|                                                             |                                                                                                           |   |                                                                                                     |   |                                                                                                           |
| Additional Gain on Sale of Project Partnerships for tax purposes | 2,489,651                                                                                                 |   | 382,488                                                                                             |   | 1,966,010                                                                                                 |
|                                                             |                                                                                                           |   |                                                                                                     |   |                                                                                                           |
| Items Expensed for Tax purposes not expensed                     |                                                                                                           |   |                                                                                                     |   |                                                                                                           |
| for Financial Statement purposes:                                |                                                                                                           |   |                                                                                                     |   |                                                                                                           |
| Administrative Expense                                           | (2,179)                                                                                                        |   | -                                                                                                   |   | -                                                                                                         |
|                                                             |                                                                                                           |   |                                                                                                     |   |                                                                                                           |
| Items Expensed for Financial Statement purposes                  |                                                                                                           |   |                                                                                                     |   |                                                                                                           |
| not expensed for Tax purposes:                                   |                                                                                                           |   |                                                                                                     |   |                                                                                                           |
| Asset Management Fee                                             | 46,018                                                                                                    |   | 47,663                                                                                              |   | 64,007                                                                                                    |
| Other Adjustments                                                | (15,755)                                                                                                       |   | (16,883)                                                                                                 |   | (15,178)                                                                                                       |
|                                                             |                                                                                                           |   |                                                                                                     |   |                                                                                                           |
| Gateway income (loss) for tax purposes as of December 31         | $  2,336,964                                                                                    |   | $   (202,275)                                                                             |   | $  2,120,383                                                                                    |
|                                                             |                                                                                                           |   |                                                                                                     |   |                                                                                                           |
|                                                             | December 31,                                                                                                   |   | December 31,                                                                                             |   | December 31,                                                                                                   |
|                                                             | 2009                                                                                                           |   | 2008                                                                                                     |   | 2007                                                                                                           |
|                                                             |                                                                                                           |   |                                                                                                     |   |                                                                                                           |
| Federal Low Income Housing Tax Credits (Unaudited)               | $                 -  |   | $                -  |   | $                 -  |

|                         | Financial                                                                                                      |   | Tax                                                                      |   |                               |
|------------------------------|----------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------|--------|------------------------------------|
|                         | Reporting                                                                                                      |   | Reporting                                                                |   |                               |
|                         | Purposes                                                                                                       |   | Purposes                                                                 |   | Differences                        |
| Investments in Local Limited |                                                                                                           |   |                                                                     |   |                               |
| Partnerships                 | $                 -  |   | $  (4,553,394)                                                 |   | $   4,553,394  |
|                         |                                                                                                           |   |                                                                     |   |                               |
| Other Assets                 | $     451,096                                                                    |   | $   1,196,563                                        |   | $    (745,467) |
|                         |                                                                                                           |   |                                                                     |   |                               |
| Liabilities                  | $  1,210,496                                                                                    |   | $          5,570  |   | $   1,204,926  |

----

| SERIES 3                                                         | 2010                                                                                                     |   | 2009                                                                                                     |   | 2008                                                                                                           |
|------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------|
| Net (Loss) Income per Financial Statements                       | $     (83,771)                                                                  |   | $     (90,478)                                                                  |   | $      42,787                                                               |
|                                                             |                                                                                                     |   |                                                                                                     |   |                                                                                                           |
| Equity in Loss of Project Partnerships for tax purposes          |                                                                                                     |   |                                                                                                     |   |                                                                                                           |
| in excess of losses for financial statement purposes             | (285,405)                                                                                                |   | (341,198)                                                                                                |   | (337,550)                                                                                                      |
|                                                             |                                                                                                     |   |                                                                                                     |   |                                                                                                           |
| Adjustments to convert March 31, fiscal year end                 |                                                                                                     |   |                                                                                                     |   |                                                                                                           |
| to December 31, taxable year end                                 | 2,638                                                                                               |   | (59)                                                                                                     |   | 5,353                                                                                                     |
|                                                             |                                                                                                     |   |                                                                                                     |   |                                                                                                           |
| Additional Gain on Sale of Project Partnerships for tax purposes | -                                                                                                   |   | 3,208                                                                                               |   | 2,799,901                                                                                                 |
|                                                             |                                                                                                     |   |                                                                                                     |   |                                                                                                           |
| Items Expensed for Financial Statement purposes                  |                                                                                                     |   |                                                                                                     |   |                                                                                                           |
| not expensed for Tax purposes:                                   |                                                                                                     |   |                                                                                                     |   |                                                                                                           |
| Asset Management Fee                                             | 37,798                                                                                              |   | 38,056                                                                                              |   | 44,847                                                                                                    |
| Other Adjustments                                                | (20,053)                                                                                                 |   | (13,883)                                                                                                 |   | (24,392)                                                                                                       |
|                                                             |                                                                                                     |   |                                                                                                     |   |                                                                                                           |
| Gateway (loss) income for tax purposes as of December 31         | $   (348,793)                                                                             |   | $   (404,354)                                                                             |   | $  2,530,946                                                                                    |
|                                                             |                                                                                                     |   |                                                                                                     |   |                                                                                                           |
|                                                             | December 31,                                                                                             |   | December 31,                                                                                             |   | December 31,                                                                                                   |
|                                                             | 2009                                                                                                     |   | 2008                                                                                                     |   | 2007                                                                                                           |
|                                                             |                                                                                                     |   |                                                                                                     |   |                                                                                                           |
| Federal Low Income Housing Tax Credits (Unaudited)               | $                -  |   | $                -  |   | $                 -  |

|                         | Financial                                                                                                      |   | Tax                                                                      |   |                                         |
|------------------------------|----------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------|--------|----------------------------------------------|
|                         | Reporting                                                                                                      |   | Reporting                                                                |   |                                         |
|                         | Purposes                                                                                                       |   | Purposes                                                                 |   | Differences                                  |
| Investments in Local Limited |                                                                                                           |   |                                                                     |   |                                         |
| Partnerships                 | $                 -  |   | $  (5,494,850)                                                 |   | $  5,494,850                  |
|                         |                                                                                                           |   |                                                                     |   |                                         |
| Other Assets                 | $     112,146                                                                    |   | $      770,469                        |   | $    (658,323)           |
|                         |                                                                                                           |   |                                                                     |   |                                         |
| Liabilities                  | $     734,940                                                                    |   | $          5,695  |   | $     729,245  |

----

| SERIES 4                                                         | 2010                                                                                               |   | 2009                                                                                                           |   | 2008                                                                                               |
|------------------------------------------------------------------|----------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------|
| Net (Loss) Income per Financial Statements                       | $   (63,104)                                                                        |   | $     236,334                                                                    |   | $   183,252                                                                    |
|                                                             |                                                                                               |   |                                                                                                           |   |                                                                                               |
| Equity in Loss of Project Partnerships for tax purposes          |                                                                                               |   |                                                                                                           |   |                                                                                               |
| in excess of losses for financial statement purposes             | (225,287)                                                                                          |   | (254,043)                                                                                                      |   | (576,403)                                                                                          |
|                                                             |                                                                                               |   |                                                                                                           |   |                                                                                               |
| Adjustments to convert March 31, fiscal year end                 |                                                                                               |   |                                                                                                           |   |                                                                                               |
| to December 31, taxable year end                                 | (2,014)                                                                                            |   | (4,536)                                                                                                        |   | (6,894)                                                                                            |
|                                                             |                                                                                               |   |                                                                                                           |   |                                                                                               |
| Additional Gain on Sale of Project Partnerships for tax purposes | 422,742                                                                                       |   | 2,317,514                                                                                                 |   | 505,535                                                                                       |
|                                                             |                                                                                               |   |                                                                                                           |   |                                                                                               |
| Items Expensed for Financial Statement purposes                  |                                                                                               |   |                                                                                                           |   |                                                                                               |
| not expensed for Tax purposes:                                   |                                                                                               |   |                                                                                                           |   |                                                                                               |
| Asset Management Fee                                             | 25,392                                                                                        |   | 36,326                                                                                                    |   | 66,577                                                                                        |
| Administrative Expense                                           | 2,427                                                                                         |   | -                                                                                                         |   | -                                                                                             |
| Other Adjustments                                                | (8,108)                                                                                            |   | (12,818)                                                                                                       |   | (18,936)                                                                                           |
|                                                             |                                                                                               |   |                                                                                                           |   |                                                                                               |
| Gateway income for tax purposes as of December 31                | $   152,048                                                                    |   | $  2,318,777                                                                                    |   | $   153,131                                                                    |
|                                                             |                                                                                               |   |                                                                                                           |   |                                                                                               |
|                                                             | December 31,                                                                                       |   | December 31,                                                                                                   |   | December 31,                                                                                       |
|                                                             | 2009                                                                                               |   | 2008                                                                                                           |   | 2007                                                                                               |
|                                                             |                                                                                               |   |                                                                                                           |   |                                                                                               |
| Federal Low Income Housing Tax Credits (Unaudited)               | $               -  |   | $                 -  |   | $               -  |

|                         | Financial                                                                                                      |   | Tax                                                                      |   |                                               |
|------------------------------|----------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------|--------|----------------------------------------------------|
|                         | Reporting                                                                                                      |   | Reporting                                                                |   |                                               |
|                         | Purposes                                                                                                       |   | Purposes                                                                 |   | Differences                                        |
| Investments in Local Limited |                                                                                                           |   |                                                                     |   |                                               |
| Partnerships                 | $                 -  |   | $  (2,740,709)                                                 |   | $   2,740,709                  |
|                         |                                                                                                           |   |                                                                     |   |                                               |
| Other Assets                 | $     175,323                                                                    |   | $   1,013,834                                        |   | $     (838,511)           |
|                         |                                                                                                           |   |                                                                     |   |                                               |
| Liabilities                  | $     898,116                                                                    |   | $          5,080  |   | $      893,036  |

----

| SERIES 5                                                                | 2010                                                                                                     |   | 2009                                                                                                     |   | 2008                                                                                                     |
|-------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------|
| Net Income (Loss) per Financial Statements                              | $     258,375                                                              |   | $   (190,678)                                                                             |   | $     38,818                                                               |
|                                                                    |                                                                                                     |   |                                                                                                     |   |                                                                                                     |
| Equity in Loss of Project Partnerships for tax purposes                 |                                                                                                     |   |                                                                                                     |   |                                                                                                     |
| in excess of losses for financial statement purposes                    | (597,943)                                                                                                |   | (857,665)                                                                                                |   | (827,769)                                                                                                |
|                                                                    |                                                                                                     |   |                                                                                                     |   |                                                                                                     |
| Adjustments to convert March 31, fiscal year end                        |                                                                                                     |   |                                                                                                     |   |                                                                                                     |
| to December 31, taxable year end                                        | (12,822)                                                                                                 |   | 1,068                                                                                               |   | (6,337)                                                                                                  |
|                                                                    |                                                                                                     |   |                                                                                                     |   |                                                                                                     |
| Additional Gain (Loss) on Sale of Project Partnerships for tax purposes | 1,670,447                                                                                           |   | (3,700)                                                                                                  |   | 1,531,271                                                                                           |
|                                                                    |                                                                                                     |   |                                                                                                     |   |                                                                                                     |
| Items Expensed for Tax purposes not expensed for                        |                                                                                                     |   |                                                                                                     |   |                                                                                                     |
| Financial Statement purposes:                                           |                                                                                                     |   |                                                                                                     |   |                                                                                                     |
| Administrative Expense                                                  | (4,245)                                                                                                  |   | (7)                                                                                                      |   | -                                                                                                   |
|                                                                    |                                                                                                     |   |                                                                                                     |   |                                                                                                     |
| Items Expensed for Financial Statement purposes                         |                                                                                                     |   |                                                                                                     |   |                                                                                                     |
| not expensed for Tax purposes:                                          |                                                                                                     |   |                                                                                                     |   |                                                                                                     |
| Asset Management Fee                                                    | 76,911                                                                                              |   | 77,285                                                                                              |   | 90,008                                                                                              |
| Amortization Expense                                                    | -                                                                                                   |   | -                                                                                                   |   | 3,859                                                                                               |
| Other Adjustments                                                       | (27,220)                                                                                                 |   | (17,926)                                                                                                 |   | (27,310)                                                                                                 |
|                                                                    |                                                                                                     |   |                                                                                                     |   |                                                                                                     |
| Gateway income (loss) for tax purposes as of December 31                | $  1,363,503                                                                              |   | $   (991,623)                                                                             |   | $   802,540                                                                          |
|                                                                    |                                                                                                     |   |                                                                                                     |   |                                                                                                     |
|                                                                    | December 31,                                                                                             |   | December 31,                                                                                             |   | December 31,                                                                                             |
|                                                                    | 2009                                                                                                     |   | 2008                                                                                                     |   | 2007                                                                                                     |
|                                                                    |                                                                                                     |   |                                                                                                     |   |                                                                                                     |
| Federal Low Income Housing Tax Credits (Unaudited)                      | $                -  |   | $                -  |   | $                -  |

|                         | Financial                                                                                                      |   | Tax                                                           |   |                                     |
|------------------------------|----------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------|--------|------------------------------------------|
|                         | Reporting                                                                                                      |   | Reporting                                                     |   |                                     |
|                         | Purposes                                                                                                       |   | Purposes                                                      |   | Differences                              |
| Investments in Local Limited |                                                                                                           |   |                                                          |   |                                     |
| Partnerships                 | $                 -  |   | $  (8,179,488)                                      |   | $   8,179,488        |
|                         |                                                                                                           |   |                                                          |   |                                     |
| Other Assets                 | $     631,079                                                                    |   | $   1,375,445                             |   | $     (744,366) |
|                         |                                                                                                           |   |                                                          |   |                                     |
| Liabilities                  | $  1,514,480                                                                                    |   | $        34,985  |   | $   1,479,495        |

----

| SERIES 6                                                                | 2010                                                                                                     |   | 2009                                                                                                           |   | 2008                                                                                                           |
|-------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------|
| Net Loss per Financial Statements                                       | $   (163,479)                                                                             |   | $     (81,656)                                                                        |   | $     (267,784)                                                                       |
|                                                                    |                                                                                                     |   |                                                                                                           |   |                                                                                                           |
| Equity in Loss of Project Partnerships for tax purposes                 |                                                                                                     |   |                                                                                                           |   |                                                                                                           |
| in excess of losses for financial statement purposes                    | (825,485)                                                                                                |   | (855,355)                                                                                                      |   | (707,657)                                                                                                      |
|                                                                    |                                                                                                     |   |                                                                                                           |   |                                                                                                           |
| Adjustments to convert March 31, fiscal year end                        |                                                                                                     |   |                                                                                                           |   |                                                                                                           |
| to December 31, taxable year end                                        | 2,706                                                                                               |   | (16,630)                                                                                                       |   | (3,890)                                                                                                        |
|                                                                    |                                                                                                     |   |                                                                                                           |   |                                                                                                           |
| Additional (Loss) Gain on Sale of Project Partnerships for tax purposes | (2,000)                                                                                                  |   | 1,586,150                                                                                                 |   | (305,718)                                                                                                      |
|                                                                    |                                                                                                     |   |                                                                                                           |   |                                                                                                           |
| Items Expensed for Tax purposes not expensed for                        |                                                                                                     |   |                                                                                                           |   |                                                                                                           |
| Financial Statement purposes:                                           |                                                                                                     |   |                                                                                                           |   |                                                                                                           |
| Administrative Expense                                                  | (630)                                                                                                    |   | -                                                                                                         |   | -                                                                                                         |
|                                                                    |                                                                                                     |   |                                                                                                           |   |                                                                                                           |
| Items Expensed for Financial Statement purposes                         |                                                                                                     |   |                                                                                                           |   |                                                                                                           |
| not expensed for Tax purposes:                                          |                                                                                                     |   |                                                                                                           |   |                                                                                                           |
| Asset Management Fee                                                    | 83,903                                                                                              |   | 93,632                                                                                                    |   | 101,323                                                                                                   |
| Amortization Expense                                                    | -                                                                                                   |   | 7,906                                                                                                     |   | 29,547                                                                                                    |
| Impairment Expense                                                      | -                                                                                                   |   | 22,839                                                                                                    |   | -                                                                                                         |
| Other Adjustments                                                       | (32,167)                                                                                                 |   | (27,618)                                                                                                       |   | (25,903)                                                                                                       |
|                                                                    |                                                                                                     |   |                                                                                                           |   |                                                                                                           |
| Gateway (loss) income for tax purposes as of December 31                | $   (937,152)                                                                             |   | $    729,268                                                                          |   | $  (1,180,082)                                                                                       |
|                                                                    |                                                                                                     |   |                                                                                                           |   |                                                                                                           |
|                                                                    | December 31,                                                                                             |   | December 31,                                                                                                   |   | December 31,                                                                                                   |
|                                                                    | 2009                                                                                                     |   | 2008                                                                                                           |   | 2007                                                                                                           |
|                                                                    |                                                                                                     |   |                                                                                                           |   |                                                                                                           |
| Federal Low Income Housing Tax Credits (Unaudited)                      | $                -  |   | $                 -  |   | $                 -  |

|                         | Financial                                                                                                      |   | Tax                                                           |   |                               |
|------------------------------|----------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------|--------|------------------------------------|
|                         | Reporting                                                                                                      |   | Reporting                                                     |   |                               |
|                         | Purposes                                                                                                       |   | Purposes                                                      |   | Differences                        |
| Investments in Local Limited |                                                                                                           |   |                                                          |   |                               |
| Partnerships                 | $                 -  |   | $  (8,752,566)                                      |   | $   8,752,566  |
|                         |                                                                                                           |   |                                                          |   |                               |
| Other Assets                 | $     229,672                                                                    |   | $   1,415,961                             |   | $  (1,186,289)           |
|                         |                                                                                                           |   |                                                          |   |                               |
| Liabilities                  | $  1,306,012                                                                                    |   | $        11,595  |   | $   1,294,417  |

----

| TOTAL SERIES 2 - 6                                               | 2010                                         |   | 2009                               |   | 2008                                         |
|------------------------------------------------------------------|----------------------------------------------|--------|------------------------------------|--------|----------------------------------------------|
| Net Income (Loss) per Financial Statements                       | $     196,844  |   | $    (218,169) |   | $     536,046  |
|                                                             |                                         |   |                               |   |                                         |
| Equity in Loss of Project Partnerships for tax purposes          |                                         |   |                               |   |                                         |
| in excess of losses for financial statement purposes             | (2,357,618)                                  |   | (2,835,919)                        |   | (2,881,099)                                  |
|                                                             |                                         |   |                               |   |                                         |
| Adjustments to convert March 31, fiscal year end                 |                                         |   |                               |   |                                         |
| to December 31, taxable year end                                 | (15,588)                                     |   | (16,351)                           |   | (13,477)                                     |
|                                                             |                                         |   |                               |   |                                         |
| Additional Gain on Sale of Project Partnerships for tax purposes | 4,580,840                               |   | 4,285,660                     |   | 6,496,999                               |
|                                                             |                                         |   |                               |   |                                         |
| Items Expensed for Tax purposes not expensed for                 |                                         |   |                               |   |                                         |
| Financial Statement purposes:                                    |                                         |   |                               |   |                                         |
| Administrative Expense                                           | (7,054)                                      |   | (7)                                |   | -                                       |
|                                                             |                                         |   |                               |   |                                         |
| Items Expensed for Financial Statement purposes                  |                                         |   |                               |   |                                         |
| not expensed for Tax purposes:                                   |                                         |   |                               |   |                                         |
| Asset Management Fee                                             | 270,022                                 |   | 292,962                       |   | 366,762                                 |
| Amortization Expense                                             | -                                       |   | 7,906                         |   | 33,406                                  |
| Administrative Expense                                           | 2,427                                   |   | -                             |   | -                                       |
| Impairment Expense                                               | -                                       |   | 22,839                        |   | -                                       |
| Other Adjustments                                                | (103,303)                                    |   | (89,128)                           |   | (111,719)                                    |
|                                                             |                                         |   |                               |   |                                         |
| Gateway income for tax purposes as of December 31                | $  2,566,570                  |   | $  1,449,793        |   | $  4,426,918                  |

|                         | Financial                                                                                                      |   | Tax                                                                       |   |                                     |
|------------------------------|----------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------|--------|------------------------------------------|
|                         | Reporting                                                                                                      |   | Reporting                                                                 |   |                                     |
|                         | Purposes                                                                                                       |   | Purposes                                                                  |   | Differences                              |
| Investments in Local Limited |                                                                                                           |   |                                                                      |   |                                     |
| Partnerships                 | $                 -  |   | $  (29,721,007)                                                 |   | $  29,721,007             |
|                         |                                                                                                           |   |                                                                      |   |                                     |
| Other Assets                 | $  1,599,316                                                                                    |   | $     5,772,271                             |   | $   (4,172,955)           |
|                         |                                                                                                           |   |                                                                      |   |                                     |
| Liabilities                  | $  5,664,044                                                                                    |   | $          62,924  |   | $    5,601,120  |

----

| Series 2                     | Quarter 1                                               |   | Quarter 2                                                     |   | Quarter 3                                                    |   | Quarter 4                                               |
|------------------------------|---------------------------------------------------------|--------|---------------------------------------------------------------|--------|--------------------------------------------------------------|--------|---------------------------------------------------------|
| Year 2010                    | 6/30/2009                                               |   | 9/30/2009                                                     |   | 12/31/2009                                                   |   | 3/31/2010                                               |
|                         |                                                    |   |                                                          |   |                                                         |   |                                                    |
| Total Revenues               | $       2,737   |   | $        4,909   |   | $        3,442  |   | $       2,771   |
|                         |                                                    |   |                                                          |   |                                                         |   |                                                    |
| Net (Loss) Income            | $    (23,853)                       |   | $       (6,173)            |   | $    297,694                        |   | $    (18,845)                       |
|                         |                                                    |   |                                                          |   |                                                         |   |                                                    |
| (Loss) Earnings Per Weighted |                                                    |   |                                                          |   |                                                         |   |                                                    |
| Average Beneficial Assignee  |                                                    |   |                                                          |   |                                                         |   |                                                    |
| Certificate Outstanding      | $        (3.85) |   | $         (1.00) |   | $        48.03  |   | $        (3.03) |

| Series 3                  | Quarter 1                                               |   | Quarter 2                                               |   | Quarter 3                                                     |   | Quarter 4                                               |
|---------------------------|---------------------------------------------------------|--------|---------------------------------------------------------|--------|---------------------------------------------------------------|--------|---------------------------------------------------------|
| Year 2010                 | 6/30/2009                                               |   | 9/30/2009                                               |   | 12/31/2009                                                    |   | 3/31/2010                                               |
|                      |                                                    |   |                                                    |   |                                                          |   |                                                    |
| Total Revenues            | $       7,513   |   | $       5,980   |   | $        2,552   |   | $       1,456   |
|                      |                                                    |   |                                                    |   |                                                          |   |                                                    |
| Net Loss                  | $    (15,776)                       |   | $    (22,147)                       |   | $     (20,949)                       |   | $    (24,899)                       |
|                      |                                                    |   |                                                    |   |                                                          |   |                                                    |
| Loss Per Weighted Average |                                                    |   |                                                    |   |                                                          |   |                                                    |
| Beneficial Assignee       |                                                    |   |                                                    |   |                                                          |   |                                                    |
| Certificate Outstanding   | $        (2.86) |   | $        (4.02) |   | $         (3.80) |   | $        (4.52) |

| Series 4                  | Quarter 1                                               |   | Quarter 2                                               |   | Quarter 3                                                              |   | Quarter 4                                               |
|---------------------------|---------------------------------------------------------|--------|---------------------------------------------------------|--------|------------------------------------------------------------------------|--------|---------------------------------------------------------|
| Year 2010                 | 6/30/2009                                               |   | 9/30/2009                                               |   | 12/31/2009                                                             |   | 3/31/2010                                               |
|                      |                                                    |   |                                                    |   |                                                                   |   |                                                    |
| Total Revenues            | $       1,737   |   | $       4,920   |   | $          268  |   | $       1,184   |
|                      |                                                    |   |                                                    |   |                                                                   |   |                                                    |
| Net Loss                  | $    (15,019)                       |   | $    (17,655)                       |   | $    (13,606)                                      |   | $    (16,824)                       |
|                      |                                                    |   |                                                    |   |                                                                   |   |                                                    |
| Loss Per Weighted Average |                                                    |   |                                                    |   |                                                                   |   |                                                    |
| Beneficial Assignee       |                                                    |   |                                                    |   |                                                                   |   |                                                    |
| Certificate Outstanding   | $        (2.15) |   | $        (2.53) |   | $        (1.95)                |   | $        (2.40) |

| Series 5                     | Quarter 1                                               |   | Quarter 2                                               |   | Quarter 3                                                    |   | Quarter 4                                                    |
|------------------------------|---------------------------------------------------------|--------|---------------------------------------------------------|--------|--------------------------------------------------------------|--------|--------------------------------------------------------------|
| Year 2010                    | 6/30/2009                                               |   | 9/30/2009                                               |   | 12/31/2009                                                   |   | 3/31/2010                                                    |
|                         |                                                    |   |                                                    |   |                                                         |   |                                                         |
| Total Revenues               | $       8,084   |   | $       6,545   |   | $        7,339  |   | $        4,578  |
|                         |                                                    |   |                                                    |   |                                                         |   |                                                         |
| Net (Loss) Income            | $    (36,428)                       |   | $    (42,869)                       |   | $    112,045                        |   | $    225,627                        |
|                         |                                                    |   |                                                    |   |                                                         |   |                                                         |
| (Loss) Earnings Per Weighted |                                                    |   |                                                    |   |                                                         |   |                                                         |
| Average Beneficial Assignee  |                                                    |   |                                                    |   |                                                         |   |                                                         |
| Certificate Outstanding      | $        (4.19) |   | $        (4.93) |   | $        12.78  |   | $        25.90  |

----

| Series 6                  | Quarter 1                                               |   | Quarter 2                                               |   | Quarter 3                                               |   | Quarter 4                                              |
|---------------------------|---------------------------------------------------------|--------|---------------------------------------------------------|--------|---------------------------------------------------------|--------|--------------------------------------------------------|
| Year 2010                 | 6/30/2009                                               |   | 9/30/2009                                               |   | 12/31/2009                                              |   | 3/31/2010                                              |
|                      |                                                    |   |                                                    |   |                                                    |   |                                                   |
| Total Revenues            | $       7,087   |   | $       9,639   |   | $       6,313   |   | $       6,048  |
|                      |                                                    |   |                                                    |   |                                                    |   |                                                   |
| Net Loss                  | $    (39,134)                       |   | $    (42,280)                       |   | $    (39,226)                       |   | $    (42,839)                      |
|                      |                                                    |   |                                                    |   |                                                    |   |                                                   |
| Loss Per Weighted Average |                                                    |   |                                                    |   |                                                    |   |                                                   |
| Beneficial Assignee       |                                                    |   |                                                    |   |                                                    |   |                                                   |
| Certificate Outstanding   | $        (3.83) |   | $        (4.14) |   | $        (3.84) |   | $       (4.25)      |

| Series 2 - 6      | Quarter 1                                   |   | Quarter 2                                   |   | Quarter 3                                   |   | Quarter 4                                   |
|-------------------|---------------------------------------------|--------|---------------------------------------------|--------|---------------------------------------------|--------|---------------------------------------------|
| Year 2010         | 6/30/2009                                   |   | 9/30/2009                                   |   | 12/31/2009                                  |   | 3/31/2010                                   |
|              |                                        |   |                                        |   |                                        |   |                                        |
| Total Revenues    | $     27,158  |   | $     31,993  |   | $     19,914  |   | $     16,037  |
|              |                                        |   |                                        |   |                                        |   |                                        |
| Net (Loss) Income | $  (130,210)                      |   | $  (131,124)                      |   | $   335,958             |   | $   122,220             |

| Series 2                  | Quarter 1                                               |   | Quarter 2                                                     |   | Quarter 3                                                     |   | Quarter 4                                               |
|---------------------------|---------------------------------------------------------|--------|---------------------------------------------------------------|--------|---------------------------------------------------------------|--------|---------------------------------------------------------|
| Year 2009                 | 6/30/2008                                               |   | 9/30/2008                                                     |   | 12/31/2008                                                    |   | 3/31/2009                                               |
|                      |                                                    |   |                                                          |   |                                                          |   |                                                    |
| Total Revenues            | $       3,793   |   | $        3,557   |   | $        1,569   |   | $       4,667   |
|                      |                                                    |   |                                                          |   |                                                          |   |                                                    |
| Net Loss                  | $    (24,924)                       |   | $     (29,632)                       |   | $     (17,494)                       |   | $    (19,641)                       |
|                      |                                                    |   |                                                          |   |                                                          |   |                                                    |
| Loss Per Weighted Average |                                                    |   |                                                          |   |                                                          |   |                                                    |
| Beneficial Assignee       |                                                    |   |                                                          |   |                                                          |   |                                                    |
| Certificate Outstanding   | $        (4.02) |   | $         (4.78) |   | $         (2.82) |   | $        (3.17) |

| Series 3                  | Quarter 1                                               |   | Quarter 2                                                                    |   | Quarter 3                                                     |   | Quarter 4                                               |
|---------------------------|---------------------------------------------------------|--------|------------------------------------------------------------------------------|--------|---------------------------------------------------------------|--------|---------------------------------------------------------|
| Year 2009                 | 6/30/2008                                               |   | 9/30/2008                                                                    |   | 12/31/2008                                                    |   | 3/31/2009                                               |
|                      |                                                    |   |                                                                         |   |                                                          |   |                                                    |
| Total Revenues            | $       8,555   |   | $           862  |   | $        1,040   |   | $       4,008   |
|                      |                                                    |   |                                                                         |   |                                                          |   |                                                    |
| Net Loss                  | $    (15,208)                       |   | $     (29,735)                                      |   | $     (23,274)                       |   | $    (22,261)                       |
|                      |                                                    |   |                                                                         |   |                                                          |   |                                                    |
| Loss Per Weighted Average |                                                    |   |                                                                         |   |                                                          |   |                                                    |
| Beneficial Assignee       |                                                    |   |                                                                         |   |                                                          |   |                                                    |
| Certificate Outstanding   | $        (2.76) |   | $         (5.40)                |   | $         (4.22) |   | $        (4.04) |

----

| Series 4                     | Quarter 1                                              |   | Quarter 2                                                         |   | Quarter 3                                                                                                |   | Quarter 4                                              |
|------------------------------|--------------------------------------------------------|--------|-------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------|
| Year 2009                    | 6/30/2008                                              |   | 9/30/2008                                                         |   | 12/31/2008                                                                                               |   | 3/31/2009                                              |
|                         |                                                   |   |                                                              |   |                                                                                                     |   |                                                   |
| Total Revenues               | $       4,153  |   | $       6,837             |   | $                -  |   | $       1,183  |
|                         |                                                   |   |                                                              |   |                                                                                                     |   |                                                   |
| Net Income (Loss)            | $   102,570                        |   | $       3,285             |   | $     (18,804)                                                                  |   | $   149,283                        |
|                         |                                                   |   |                                                              |   |                                                                                                     |   |                                                   |
| Earnings (Loss) Per Weighted |                                                   |   |                                                              |   |                                                                                                     |   |                                                   |
| Average Beneficial Assignee  |                                                   |   |                                                              |   |                                                                                                     |   |                                                   |
| Certificate Outstanding      | $       14.68  |   | $         0.47  |   | $         (2.69)                                            |   | $       21.38  |

| Series 5                  | Quarter 1                                               |   | Quarter 2                                               |   | Quarter 3                                                     |   | Quarter 4                                               |
|---------------------------|---------------------------------------------------------|--------|---------------------------------------------------------|--------|---------------------------------------------------------------|--------|---------------------------------------------------------|
| Year 2009                 | 6/30/2008                                               |   | 9/30/2008                                               |   | 12/31/2008                                                    |   | 3/31/2009                                               |
|                      |                                                    |   |                                                    |   |                                                          |   |                                                    |
| Total Revenues            | $       5,992   |   | $       1,653   |   | $        3,594   |   | $       5,252   |
|                      |                                                    |   |                                                    |   |                                                          |   |                                                    |
| Net Loss                  | $    (44,594)                       |   | $    (63,586)                       |   | $     (44,296)                       |   | $    (38,202)                       |
|                      |                                                    |   |                                                    |   |                                                          |   |                                                    |
| Loss Per Weighted Average |                                                    |   |                                                    |   |                                                          |   |                                                    |
| Beneficial Assignee       |                                                    |   |                                                    |   |                                                          |   |                                                    |
| Certificate Outstanding   | $        (5.12) |   | $        (7.31) |   | $         (5.09) |   | $        (4.39) |

| Series 6                     | Quarter 1                                               |   | Quarter 2                                               |   | Quarter 3                                                              |   | Quarter 4                                                         |
|------------------------------|---------------------------------------------------------|--------|---------------------------------------------------------|--------|------------------------------------------------------------------------|--------|-------------------------------------------------------------------|
| Year 2009                    | 6/30/2008                                               |   | 9/30/2008                                               |   | 12/31/2008                                                             |   | 3/31/2009                                                         |
|                         |                                                    |   |                                                    |   |                                                                   |   |                                                              |
| Total Revenues               | $     11,438              |   | $       7,514   |   | $          982  |   | $       9,128             |
|                         |                                                    |   |                                                    |   |                                                                   |   |                                                              |
| Net (Loss) Income            | $    (44,328)                       |   | $    (45,023)                       |   | $    (43,951)                                      |   | $     51,646                        |
|                         |                                                    |   |                                                    |   |                                                                   |   |                                                              |
| (Loss) Earnings Per Weighted |                                                    |   |                                                    |   |                                                                   |   |                                                              |
| Average Beneficial Assignee  |                                                    |   |                                                    |   |                                                                   |   |                                                              |
| Certificate Outstanding      | $        (4.34) |   | $        (4.41) |   | $        (5.06)                |   | $         5.01  |

| Series 2 - 6      | Quarter 1                                   |   | Quarter 2                                   |   | Quarter 3                                              |   | Quarter 4                                   |
|-------------------|---------------------------------------------|--------|---------------------------------------------|--------|--------------------------------------------------------|--------|---------------------------------------------|
| Year 2009         | 6/30/2008                                   |   | 9/30/2008                                   |   | 12/31/2008                                             |   | 3/31/2009                                   |
|              |                                        |   |                                        |   |                                                   |   |                                        |
| Total Revenues    | $     33,931  |   | $     20,423  |   | $       7,185  |   | $     24,238  |
|              |                                        |   |                                        |   |                                                   |   |                                        |
| Net (Loss) Income | $    (26,484)           |   | $  (164,691)                      |   | $  (147,819)                                 |   | $   120,825             |

----

----

----

|     | 2010                            |   | 2009                            |   | 2008                            |
|----------|---------------------------------|--------|---------------------------------|--------|---------------------------------|
| Series 2 | $    41,341 |   | $    47,611 |   | $    59,534 |
| Series 3 | 37,732                          |   | 37,995                          |   | 43,194                          |
| Series 4 | 23,438                          |   | 33,100                          |   | 60,199                          |
| Series 5 | 73,617                          |   | 77,196                          |   | 86,397                          |
| Series 6 | 81,399                          |   | 91,792                          |   | 100,623                         |
| Total    | $  257,527            |   | $  287,694            |   | $  349,947            |

|     | 2010                            |   | 2009                            |   | 2008                            |
|----------|---------------------------------|--------|---------------------------------|--------|---------------------------------|
| Series 2 | $    43,142 |   | $    54,129 |   | $    63,960 |
| Series 3 | 43,457                          |   | 46,497                          |   | 53,244                          |
| Series 4 | 27,458                          |   | 39,332                          |   | 68,200                          |
| Series 5 | 68,984                          |   | 86,794                          |   | 95,494                          |
| Series 6 | 84,018                          |   | 99,847                          |   | 112,863                         |
| Total    | $  267,059            |   | $  326,599            |   | $  393,761            |

|     | March 31, 2010                               |   | March 31, 2009                               |
|----------|----------------------------------------------|--------|----------------------------------------------|
| Series 2 | $      862,743 |   | $      822,178 |
| Series 3 | 731,691                                      |   | 684,666                                      |
| Series 4 | 894,624                                      |   | 873,010                                      |
| Series 5 | 959,877                                      |   | 845,790                                      |
| Series 6 | 1,304,557                                    |   | 1,207,719                                    |
| Total    | $  4,753,492                       |   | $  4,433,363                       |

----

----

|   3.1 | Amended Certificate of Limited Partnership of Gateway Tax Credit Fund II, Ltd. (Filed as an Exhibit to Registration Statement on Form S-11, File No. 33-31821, and incorporated herein by reference.) |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   4.1 | The form of Partnership Agreement of the Partnership (included as Exhibit "A" to the Prospectus, File No. 33-31821, and incorporated herein by reference.) |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   31.1 | Certification required by Rule 15d-14(a).(Filed herewith.) |
|------------------|------------------------------------------------------------|

|   31.2 | Certification required by Rule 15d-14(a).(Filed herewith.) |
|------------------|------------------------------------------------------------|

|   32 | Certification required by Rule 15d-14(b).(Filed herewith.) |
|----------------|------------------------------------------------------------|

----

| SERIES 2             |           |   |   |                                      |
|----------------------|----------------|--------|--------|-------------------------------------------|
| Apartment Properties |           |   |   |                                      |
|                 |           | # of   |   | Mortgage Loan                             |
| Partnership          | Location       | Units  |   | Balance                                   |
|                 |           |   |   |                                      |
| Deerfield II         | Douglas, GA    | 24     |   | 673,819                                   |
| Hartwell Family      | Hartwell, GA   | 24     |   | 677,161                                   |
| Cherrytree Apts.     | Albion, PA     | 33     |   | 1,153,019                                 |
| Springwood Apts.     | Westfield, NY  | 32     |   | 1,201,984                                 |
| Pearson Elderly      | Pearson, GA    | 25     |   | 586,064                                   |
| Richland Elderly     | Richland, GA   | 34     |   | 833,284                                   |
| Woodland Terrace     | Waynesboro, GA | 30     |   | 853,064                                   |
| Mt. Vernon Elderly   | Mt. Vernon, GA | 21     |   | 551,128                                   |
| Lakeland Elderly     | Lakeland, GA   | 29     |   | 746,182                                   |
| Manchester Housing   | Manchester, GA | 49     |   | 1,398,519                                 |
| Durango C.W.W.       | Durango, CO    | 24     |   | 999,127                                   |
| Columbus Sr.         | Columbus, KS   | 16     |   | 419,321                                   |
|                 |           |   |   |                                      |
| Total Series 2       |           | 341    |   | $     10,092,672 |
|                 |           |   |   |                                      |

| SERIES 2             |   |  Cost at Acquisition Date               |   |                                      |
|----------------------|--------|----------------------------------------------|--------|-------------------------------------------|
| Apartment Properties |   |                                         |   |                                      |   | Net Improvements |
|                 |   |                                         |   | Buildings                                 |   | Capitalized |
|                 |   |                                         |   | Improvements                              |   | Subsequent to |
| Partnership          |   | Land                                         |   | & Equipment                           |   | Acquisition |
|                 |   |                                         |   |                                      |   |   |
| Deerfield II         |   | 33,600                                       |   | 820,962                                   |   | 0  |
| Hartwell Family      |   | 22,700                                       |   | 836,998                                   |   | 0  |
| Cherrytree Apts.     |   | 62,000                                       |   | 1,376,297                                 |   | 48,146  |
| Springwood Apts.     |   | 21,500                                       |   | 1,451,283                                 |   | 112,849  |
| Pearson Elderly      |   | 15,000                                       |   | 767,590                                   |   | (1,130) |
| Richland Elderly     |   | 31,500                                       |   | 1,027,512                                 |   | (1,141) |
| Woodland Terrace     |   | 36,400                                       |   | 1,047,107                                 |   | (1,943) |
| Mt. Vernon Elderly   |   | 21,750                                       |   | 680,437                                   |   | (1,252) |
| Lakeland Elderly     |   | 28,000                                       |   | 930,574                                   |   | (2,759) |
| Manchester Housing   |   | 36,000                                       |   | 1,746,076                                 |   | (704) |
| Durango C.W.W.       |   | 140,250                                      |   | 1,123,454                                 |   | 188,450  |
| Columbus Sr.         |   | 64,373                                       |   | 444,257                                   |   | 74,337  |
|                 |   |                                         |   |                                      |   |   |
| Total Series 2       |   | $      513,073 |   | $     12,252,547 |   | $             414,853  |
|                 |   |                                         |   |                                      |   |   |

----

| SERIES 2             |   |                                               |   |                                            |   |                                                  |
|----------------------|--------|----------------------------------------------------|--------|-------------------------------------------------|--------|-------------------------------------------------------|
| Apartment Properties |   | Gross Amount At Which Carried At December 31, 2009 |
|                 |   |                                               |   | Buildings,                                      |   |                                                  |
|                 |   |                                               |   | Improvements                                    |   |                                                  |
| Partnership          |   | Land                                               |   | & Equipment                                 |   | Total                                                 |
|                 |   |                                               |   |                                            |   |                                                  |
| Deerfield II         |   | 33,600                                             |   | 820,962                                         |   | 854,562                                               |
| Hartwell Family      |   | 22,700                                             |   | 836,998                                         |   | 859,698                                               |
| Cherrytree Apts.     |   | 89,327                                             |   | 1,397,116                                       |   | 1,486,443                                             |
| Springwood Apts.     |   | 21,500                                             |   | 1,564,132                                       |   | 1,585,632                                             |
| Pearson Elderly      |   | 15,000                                             |   | 766,460                                         |   | 781,460                                               |
| Richland Elderly     |   | 31,500                                             |   | 1,026,371                                       |   | 1,057,871                                             |
| Woodland Terrace     |   | 36,400                                             |   | 1,045,164                                       |   | 1,081,564                                             |
| Mt. Vernon Elderly   |   | 21,750                                             |   | 679,185                                         |   | 700,935                                               |
| Lakeland Elderly     |   | 28,000                                             |   | 927,815                                         |   | 955,815                                               |
| Manchester Housing   |   | 36,000                                             |   | 1,745,372                                       |   | 1,781,372                                             |
| Durango C.W.W.       |   | 140,250                                            |   | 1,311,904                                       |   | 1,452,154                                             |
| Columbus Sr.         |   | 71,891                                             |   | 511,076                                         |   | 582,967                                               |
|                 |   |                                               |   |                                            |   |                                                  |
| Total Series 2       |   | $      547,918       |   | $      12,632,555 |   | $       13,180,473 |
|                 |   |                                               |   |                                            |   |                                                  |

| SERIES 2             |   |                                     |   |             |
|----------------------|--------|------------------------------------------|--------|------------------|
| Apartment Properties |   |                                     |   |             |
|                 |   | Accumulated                              |   | Depreciable Life |
| Partnership          |   | Depreciation                             |   |
|                 |   |                                     |   |             |
| Deerfield II         |   | 577,338                                  |   | 5-27.5           |
| Hartwell Family      |   | 591,057                                  |   | 5-27.5           |
| Cherrytree Apts.     |   | 684,941                                  |   | 5-27.5           |
| Springwood Apts.     |   | 783,103                                  |   | 5-40             |
| Pearson Elderly      |   | 493,835                                  |   | 5-30             |
| Richland Elderly     |   | 655,723                                  |   | 5-30             |
| Woodland Terrace     |   | 672,637                                  |   | 5-30             |
| Mt. Vernon Elderly   |   | 438,521                                  |   | 5-30             |
| Lakeland Elderly     |   | 593,718                                  |   | 5-30             |
| Manchester Housing   |   | 1,105,491                                |   | 5-30             |
| Durango C.W.W.       |   | 634,699                                  |   | 5-40             |
| Columbus Sr.         |   | 381,566                                  |   | 5-27.5           |
|                 |   |                                     |   |             |
| Total Series 2       |   | $     7,612,629 |   |             |
|                 |   |                                     |   |             |

----

| SERIES 3             |             |   |   |                                      |
|----------------------|------------------|--------|--------|-------------------------------------------|
| Apartment Properties |             |   |   |                                      |
|                 |             | # of   |   | Mortgage Loan                             |
| Partnership          | Location         | Units  |   | Balance                                   |
|                 |             |   |   |                                      |
| Poteau II            | Poteau, OK       | 52     |   | 1,234,525                                 |
| Sallisaw             | Sallisaw, OK     | 52     |   | 1,261,303                                 |
| Nowata Properties    | Oolagah, OK      | 32     |   | 824,379                                   |
| Waldron Properties   | Waldron, AR      | 24     |   | 612,386                                   |
| Roland II            | Roland, OK       | 52     |   | 1,258,231                                 |
| Stilwell             | Stilwell, OK     | 48     |   | 1,140,048                                 |
| Hornellsville        | Arkport, NY      | 24     |   | 855,514                                   |
| CE McKinley II       | Rising Sun, MD   | 16     |   | 505,208                                   |
| Weston Apartments    | Weston, AL       | 10     |   | 261,788                                   |
| Countrywood Apts.    | Centreville, AL  | 40     |   | 1,143,503                                 |
| Wildwood Apts.       | Pineville, LA    | 28     |   | 815,378                                   |
| Hancock              | Hawesville, KY   | 12     |   | 326,154                                   |
| Hopkins              | Madisonville, KY | 24     |   | 684,682                                   |
| Elkhart Apts.        | Elkhart, TX      | 54     |   | 1,033,539                                 |
| Heritage Villas      | Helena, GA       | 25     |   | 651,182                                   |
|                 |             |   |   |                                      |
| Total Series 3       |             | 493    |   | $     12,607,820 |
|                 |             |   |   |                                      |

| SERIES 3             |   |  Cost at Acquisition Date               |   |                                      |
|----------------------|--------|----------------------------------------------|--------|-------------------------------------------|
| Apartment Properties |   |                                         |   |                                      |   | Net Improvements |
|                 |   |                                         |   | Buildings                                 |   | Capitalized |
|                 |   |                                         |   | Improvements                              |   | Subsequent to |
| Partnership          |   | Land                                         |   | & Equipment                           |   | Acquisition |
|                 |   |                                         |   |                                      |   |   |
| Poteau II            |   | 76,827                                       |   | 1,712,321                                 |   | 0  |
| Sallisaw             |   | 70,000                                       |   | 1,674,103                                 |   | 0  |
| Nowata Properties    |   | 45,500                                       |   | 1,102,984                                 |   | 0  |
| Waldron Properties   |   | 26,000                                       |   | 834,273                                   |   | 0  |
| Roland II            |   | 70,000                                       |   | 1,734,010                                 |   | 0  |
| Stilwell             |   | 37,500                                       |   | 1,560,201                                 |   | 0  |
| Hornellsville        |   | 41,225                                       |   | 1,018,523                                 |   | 129,135  |
| CE McKinley II       |   | 11,762                                       |   | 745,635                                   |   | 126,432  |
| Weston Apartments    |   | 0                                            |   | 339,144                                   |   | 24,323  |
| Countrywood Apts.    |   | 55,750                                       |   | 1,447,439                                 |   | 139,850  |
| Wildwood Apts.       |   | 48,000                                       |   | 1,018,897                                 |   | 69,242  |
| Hancock              |   | 20,700                                       |   | 419,725                                   |   | 0  |
| Hopkins              |   | 43,581                                       |   | 885,087                                   |   | (1,412) |
| Elkhart Apts.        |   | 35,985                                       |   | 1,361,096                                 |   | 361,002  |
| Heritage Villas      |   | 21,840                                       |   | 801,128                                   |   | 1,791  |
|                 |   |                                         |   |                                      |   |   |
| Total Series 3       |   | $      604,670 |   | $     16,654,566 |   | $           850,363  |
|                 |   |                                         |   |                                      |   |   |

----

| SERIES 3             |   |                                               |   |                                            |   |                                                  |
|----------------------|--------|----------------------------------------------------|--------|-------------------------------------------------|--------|-------------------------------------------------------|
| Apartment Properties |   | Gross Amount At Which Carried At December 31, 2009 |
|                 |   |                                               |   | Buildings,                                      |   |                                                  |
|                 |   |                                               |   | Improvements                                    |   |                                                  |
| Partnership          |   | Land                                               |   | & Equipment                                 |   | Total                                                 |
|                 |   |                                               |   |                                            |   |                                                  |
| Poteau II            |   | 76,827                                             |   | 1,712,321                                       |   | 1,789,148                                             |
| Sallisaw             |   | 70,000                                             |   | 1,674,103                                       |   | 1,744,103                                             |
| Nowata Properties    |   | 45,500                                             |   | 1,102,984                                       |   | 1,148,484                                             |
| Waldron Properties   |   | 26,000                                             |   | 834,273                                         |   | 860,273                                               |
| Roland II            |   | 70,000                                             |   | 1,734,010                                       |   | 1,804,010                                             |
| Stilwell             |   | 37,500                                             |   | 1,560,201                                       |   | 1,597,701                                             |
| Hornellsville        |   | 41,225                                             |   | 1,147,658                                       |   | 1,188,883                                             |
| CE McKinley II       |   | 11,749                                             |   | 872,080                                         |   | 883,829                                               |
| Weston Apartments    |   | 9,700                                              |   | 353,767                                         |   | 363,467                                               |
| Countrywood Apts.    |   | 59,940                                             |   | 1,583,099                                       |   | 1,643,039                                             |
| Wildwood Apts.       |   | 48,000                                             |   | 1,088,139                                       |   | 1,136,139                                             |
| Hancock              |   | 20,700                                             |   | 419,725                                         |   | 440,425                                               |
| Hopkins              |   | 43,581                                             |   | 883,675                                         |   | 927,256                                               |
| Elkhart Apts.        |   | 23,378                                             |   | 1,734,705                                       |   | 1,758,083                                             |
| Heritage Villas      |   | 21,840                                             |   | 802,919                                         |   | 824,759                                               |
|                 |   |                                               |   |                                            |   |                                                  |
| Total Series 3       |   | $      605,940       |   | $      17,503,659 |   | $       18,109,599 |
|                 |   |                                               |   |                                            |   |                                                  |

| SERIES 3             |   |                          |   |             |
|----------------------|--------|-------------------------------|--------|------------------|
| Apartment Properties |   |                          |   |             |
|                 |   | Accumulated                   |   | Depreciable Life |
| Partnership          |   | Depreciation                  |   |
|                 |   |                          |   |             |
| Poteau II            |   | 1,464,227                     |   | 5-25             |
| Sallisaw             |   | 1,400,234                     |   | 5-25             |
| Nowata Properties    |   | 914,969                       |   | 5-25             |
| Waldron Properties   |   | 693,040                       |   | 5-25             |
| Roland II            |   | 1,475,263                     |   | 5-25             |
| Stilwell             |   | 1,319,624                     |   | 5-25             |
| Hornellsville        |   | 873,368                       |   | 5-27.5           |
| CE McKinley II       |   | 634,483                       |   | 5-27.5           |
| Weston Apartments    |   | 275,707                       |   | 5-27.5           |
| Countrywood Apts.    |   | 1,187,740                     |   | 5-27.5           |
| Wildwood Apts.       |   | 760,206                       |   | 5-30             |
| Hancock              |   | 294,011                       |   | 5-27.5           |
| Hopkins              |   | 619,011                       |   | 5-27.5           |
| Elkhart Apts.        |   | 1,245,050                     |   | 5-25             |
| Heritage Villas      |   | 521,435                       |   | 5-30             |
|                 |   |                          |   |             |
| Total Series 3       |   | $   13,678,368 |   |             |
|                 |   |                          |   |             |

----

| SERIES 4             |              |   |   |                                                       |
|----------------------|-------------------|--------|--------|------------------------------------------------------------|
| Apartment Properties |              |   |   |                                                       |
|                 |              | # of   |   | Mortgage Loan                                              |
| Partnership          | Location          | Units  |   | Balance                                                    |
|                 |              |   |   |                                                       |
| Seneca Apartments    | Seneca, MO        | 24     |   | 586,151                                                    |
| Westville            | Westville, OK     | 36     |   | 826,737                                                    |
| Wellsville Senior    | Wellsville, KS    | 24     |   | 623,600                                                    |
| Stilwell II          | Stilwell, OK      | 52     |   | 1,240,102                                                  |
| Spring Hill Senior   | Spring Hill, KS   | 24     |   | 669,962                                                    |
| Wynnwood Common      | Fairchance, PA    | 34     |   | 1,320,072                                                  |
| Courtyard            | Huron, SD         | 21     |   | 685,800                                                    |
| Piedmont             | Barnesville, GA   | 36     |   | 1,001,007                                                  |
| S.F. Arkansas City   | Arkansas City, KS | 12     |   | 331,957                                                    |
|                 |              |   |   |                                                       |
| Total Series 4       |              | 263    |   | $        7,285,388 |
|                 |              |   |   |                                                       |

| SERIES 4             |   |  Cost at Acquisition Date               |   |                                                 |
|----------------------|--------|----------------------------------------------|--------|------------------------------------------------------|
| Apartment Properties |   |                                         |   |                                                 |   | Net Improvements |
|                 |   |                                         |   | Buildings                                            |   | Capitalized |
|                 |   |                                         |   | Improvements                                         |   | Subsequent to |
| Partnership          |   | Land                                         |   | & Equipment                                      |   | Acquisition |
|                 |   |                                         |   |                                                 |   |   |
| Seneca Apartments    |   | 76,212                                       |   | 640,702                                              |   | 134,663  |
| Westville            |   | 27,560                                       |   | 1,074,126                                            |   | 0  |
| Wellsville Senior    |   | 38,000                                       |   | 772,971                                              |   | 1,031  |
| Stilwell II          |   | 30,000                                       |   | 1,627,974                                            |   | 0  |
| Spring Hill Senior   |   | 49,800                                       |   | 986,569                                              |   | 0  |
| Wynnwood Common      |   | 68,000                                       |   | 1,578,814                                            |   | 83,558  |
| Courtyard            |   | 24,500                                       |   | 810,110                                              |   | 78,060  |
| Piedmont             |   | 29,500                                       |   | 1,259,547                                            |   | 0  |
| S.F. Arkansas City   |   | 16,800                                       |   | 395,228                                              |   | 0  |
|                 |   |                                         |   |                                                 |   |   |
| Total Series 4       |   | $      360,372 |   | $       9,146,041 |   | $           297,312  |
|                 |   |                                         |   |                                                 |   |   |

----

| SERIES 4             |   |                                               |   |                                                       |   |                                                             |
|----------------------|--------|----------------------------------------------------|--------|------------------------------------------------------------|--------|------------------------------------------------------------------|
| Apartment Properties |   | Gross Amount At Which Carried At December 31, 2009 |
|                 |   |                                               |   | Buildings,                                                 |   |                                                             |
|                 |   |                                               |   | Improvements                                               |   |                                                             |
| Partnership          |   | Land                                               |   | & Equipment                                            |   | Total                                                            |
|                 |   |                                               |   |                                                       |   |                                                             |
| Seneca Apartments    |   | 83,536                                             |   | 768,041                                                    |   | 851,577                                                          |
| Westville            |   | 27,560                                             |   | 1,074,126                                                  |   | 1,101,686                                                        |
| Wellsville Senior    |   | 38,000                                             |   | 774,002                                                    |   | 812,002                                                          |
| Stilwell II          |   | 30,000                                             |   | 1,627,974                                                  |   | 1,657,974                                                        |
| Spring Hill Senior   |   | 49,800                                             |   | 986,569                                                    |   | 1,036,369                                                        |
| Wynnwood Common      |   | 68,000                                             |   | 1,662,372                                                  |   | 1,730,372                                                        |
| Courtyard            |   | 34,199                                             |   | 878,471                                                    |   | 912,670                                                          |
| Piedmont             |   | 29,500                                             |   | 1,259,547                                                  |   | 1,289,047                                                        |
| S.F. Arkansas City   |   | 16,800                                             |   | 395,228                                                    |   | 412,028                                                          |
|                 |   |                                               |   |                                                       |   |                                                             |
| Total Series 4       |   | $      377,395       |   | $        9,426,330 |   | $         9,803,725 |
|                 |   |                                               |   |                                                       |   |                                                             |

| SERIES 4             |   |                                     |   |             |
|----------------------|--------|------------------------------------------|--------|------------------|
| Apartment Properties |   |                                     |   |             |
|                 |   | Accumulated                              |   | Depreciable Life |
| Partnership          |   | Depreciation                             |   |
|                 |   |                                     |   |             |
| Seneca Apartments    |   | 572,713                                  |   | 5-27.5           |
| Westville            |   | 748,297                                  |   | 5-27.5           |
| Wellsville Senior    |   | 541,184                                  |   | 5-25             |
| Stilwell II          |   | 1,134,551                                |   | 5-27.5           |
| Spring Hill Senior   |   | 760,575                                  |   | 5-25             |
| Wynnwood Common      |   | 819,091                                  |   | 5-40             |
| Courtyard            |   | 609,024                                  |   | 5-27.5           |
| Piedmont             |   | 678,025                                  |   | 5-27.5           |
| S.F. Arkansas City   |   | 276,488                                  |   | 5-27.5           |
|                 |   |                                     |   |             |
| Total Series 4       |   | $     6,139,948 |   |             |
|                 |   |                                     |   |             |

----

| SERIES 5             |               |   |   |                                      |
|----------------------|--------------------|--------|--------|-------------------------------------------|
| Apartment Properties |               |   |   |                                      |
|                 |               | # of   |   | Mortgage Loan                             |
| Partnership          | Location           | Units  |   | Balance                                   |
|                 |               |   |   |                                      |
| S.F. Winfield        | Winfield, KS       | 12     |   | 324,804                                   |
| S.F.Medicine Lodge   | Medicine Lodge, KS | 16     |   | 442,103                                   |
| S.F. Ottawa          | Ottawa, KS         | 24     |   | 556,384                                   |
| S.F. Concordia       | Concordia, KS      | 20     |   | 544,300                                   |
| Carrollton Club      | Carrollton, GA     | 78     |   | 2,569,684                                 |
| Scarlett Oaks        | Lexington, SC      | 40     |   | 1,335,116                                 |
| Brooks Hill          | Ellijay, GA        | 44     |   | 1,406,140                                 |
| Greensboro           | Greensboro, GA     | 24     |   | 702,089                                   |
| Greensboro II        | Greensboro, GA     | 32     |   | 860,487                                   |
| Crawford             | Crawford, GA       | 25     |   | 715,891                                   |
| Yorkshire            | Wagoner, OK        | 60     |   | 2,001,786                                 |
| Clayton              | Clayton, OK        | 24     |   | 642,102                                   |
| Alma                 | Alma, AR           | 24     |   | 706,648                                   |
| Spring Hill          | Spring Hill, KS    | 36     |   | 1,082,808                                 |
| Menard Retirement    | Menard, TX         | 24     |   | 604,549                                   |
| Wallis Housing       | Wallis, TX         | 24     |   | 346,714                                   |
| Mill Creek           | Grove, OK          | 60     |   | 1,377,894                                 |
| Cloverdale           | Chandler, TX       | 24     |   | 729,945                                   |
| S. Timber Ridge      | Cloverdale, IN     | 44     |   | 1,025,997                                 |
| Pineville            | Pineville, MO      | 12     |   | 307,584                                   |
| Ravenwood            | Americus, GA       | 24     |   | 696,738                                   |
|                 |               |   |   |                                      |
| Total Series 5       |               | 671    |   | $     18,979,763 |
|                 |               |   |   |                                      |

----

| SERIES 5             |   |  Cost at Acquisition Date               |   |                                      |
|----------------------|--------|----------------------------------------------|--------|-------------------------------------------|
| Apartment Properties |   |                                         |   |                                      |   | Net Improvements |
|                 |   |                                         |   | Buildings                                 |   | Capitalized |
|                 |   |                                         |   | Improvements                              |   | Subsequent to |
| Partnership          |   | Land                                         |   | & Equipment                           |   | Acquisition |
|                 |   |                                         |   |                                      |   |   |
| S.F. Winfield        |   | 18,000                                       |   | 382,920                                   |   | 1,482  |
| S.F.Medicine Lodge   |   | 21,600                                       |   | 542,959                                   |   | 10,006  |
| S.F. Ottawa          |   | 25,200                                       |   | 687,929                                   |   | 23,636  |
| S.F. Concordia       |   | 28,000                                       |   | 658,961                                   |   | 10,411  |
| Carrollton Club      |   | 248,067                                      |   | 722,560                                   |   | 2,247,274  |
| Scarlett Oaks        |   | 44,475                                       |   | 992,158                                   |   | 654,867  |
| Brooks Hill          |   | 0                                            |   | 214,335                                   |   | 1,557,283  |
| Greensboro           |   | 15,930                                       |   | 61,495                                    |   | 788,834  |
| Greensboro II        |   | 21,330                                       |   | 92,063                                    |   | 975,271  |
| Crawford             |   | 16,600                                       |   | 187,812                                   |   | 703,300  |
| Yorkshire            |   | 100,000                                      |   | 2,212,045                                 |   | 353,507  |
| Clayton              |   | 35,600                                       |   | 835,930                                   |   | 0  |
| Alma                 |   | 45,000                                       |   | 912,710                                   |   | 0  |
| Spring Hill          |   | 70,868                                       |   | 1,318,926                                 |   | 59,584  |
| Menard Retirement    |   | 21,000                                       |   | 721,251                                   |   | 53,067  |
| Wallis Housing       |   | 13,900                                       |   | 553,230                                   |   | 11,203  |
| Mill Creek           |   | 28,000                                       |   | 414,429                                   |   | 1,299,240  |
| Cloverdale           |   | 40,000                                       |   | 583,115                                   |   | 411,998  |
| S. Timber Ridge      |   | 43,705                                       |   | 1,233,570                                 |   | 112,484  |
| Pineville            |   | 59,661                                       |   | 328,468                                   |   | 55,888  |
| Ravenwood            |   | 14,300                                       |   | 873,596                                   |   | 13,100  |
|                 |   |                                         |   |                                      |   |   |
| Total Series 5       |   | $      911,236 |   | $     14,530,462 |   | $        9,342,435  |
|                 |   |                                         |   |                                      |   |   |

----

| SERIES 5             |   |                                               |   |                                            |   |                                                  |
|----------------------|--------|----------------------------------------------------|--------|-------------------------------------------------|--------|-------------------------------------------------------|
| Apartment Properties |   | Gross Amount At Which Carried At December 31, 2009 |
|                 |   |                                               |   | Buildings,                                      |   |                                                  |
|                 |   |                                               |   | Improvements                                    |   |                                                  |
| Partnership          |   | Land                                               |   | & Equipment                                 |   | Total                                                 |
|                 |   |                                               |   |                                            |   |                                                  |
| S.F. Winfield        |   | 18,000                                             |   | 384,402                                         |   | 402,402                                               |
| S.F.Medicine Lodge   |   | 21,600                                             |   | 552,965                                         |   | 574,565                                               |
| S.F. Ottawa          |   | 25,200                                             |   | 711,565                                         |   | 736,765                                               |
| S.F. Concordia       |   | 28,000                                             |   | 669,372                                         |   | 697,372                                               |
| Carrollton Club      |   | 248,068                                            |   | 2,969,833                                       |   | 3,217,901                                             |
| Scarlett Oaks        |   | 44,475                                             |   | 1,647,025                                       |   | 1,691,500                                             |
| Brooks Hill          |   | 93,082                                             |   | 1,678,536                                       |   | 1,771,618                                             |
| Greensboro           |   | 15,930                                             |   | 850,329                                         |   | 866,259                                               |
| Greensboro II        |   | 16,845                                             |   | 1,071,819                                       |   | 1,088,664                                             |
| Crawford             |   | 16,600                                             |   | 891,112                                         |   | 907,712                                               |
| Yorkshire            |   | 119,888                                            |   | 2,545,664                                       |   | 2,665,552                                             |
| Clayton              |   | 35,600                                             |   | 835,930                                         |   | 871,530                                               |
| Alma                 |   | 45,000                                             |   | 912,710                                         |   | 957,710                                               |
| Spring Hill          |   | 70,868                                             |   | 1,378,510                                       |   | 1,449,378                                             |
| Menard Retirement    |   | 21,000                                             |   | 774,318                                         |   | 795,318                                               |
| Wallis Housing       |   | 13,900                                             |   | 564,433                                         |   | 578,333                                               |
| Mill Creek           |   | 28,000                                             |   | 1,713,669                                       |   | 1,741,669                                             |
| Cloverdale           |   | 40,000                                             |   | 995,113                                         |   | 1,035,113                                             |
| S. Timber Ridge      |   | 33,300                                             |   | 1,356,459                                       |   | 1,389,759                                             |
| Pineville            |   | 61,056                                             |   | 382,961                                         |   | 444,017                                               |
| Ravenwood            |   | 14,300                                             |   | 886,696                                         |   | 900,996                                               |
|                 |   |                                               |   |                                            |   |                                                  |
| Total Series 5       |   | $   1,010,712                       |   | $      23,773,421 |   | $       24,784,133 |
|                 |   |                                               |   |                                            |   |                                                  |

----

| SERIES 5             |   |                          |   |             |
|----------------------|--------|-------------------------------|--------|------------------|
| Apartment Properties |   |                          |   |             |
|                 |   | Accumulated                   |   | Depreciable Life |
| Partnership          |   | Depreciation                  |   |
|                 |   |                          |   |             |
| S.F. Winfield        |   | 270,394                       |   | 5-27.5           |
| S.F.Medicine Lodge   |   | 348,501                       |   | 5-27.5           |
| S.F. Ottawa          |   | 499,002                       |   | 5-27.5           |
| S.F. Concordia       |   | 469,133                       |   | 5-27.5           |
| Carrollton Club      |   | 1,879,513                     |   | 5-27.5           |
| Scarlett Oaks        |   | 1,001,567                     |   | 5-27.5           |
| Brooks Hill          |   | 1,053,055                     |   | 5-27.5           |
| Greensboro           |   | 501,592                       |   | 5-30             |
| Greensboro II        |   | 632,068                       |   | 5-30             |
| Crawford             |   | 537,293                       |   | 5-30             |
| Yorkshire            |   | 1,024,096                     |   | 5-50             |
| Clayton              |   | 563,070                       |   | 5-27.5           |
| Alma                 |   | 676,626                       |   | 5-25             |
| Spring Hill          |   | 998,817                       |   | 5-25             |
| Menard Retirement    |   | 281,232                       |   | 5-30             |
| Wallis Housing       |   | 354,702                       |   | 5-30             |
| Mill Creek           |   | 1,238,229                     |   | 5-25             |
| Cloverdale           |   | 683,319                       |   | 5-27.5           |
| S. Timber Ridge      |   | 950,527                       |   | 5-25             |
| Pineville            |   | 289,857                       |   | 5-27.5           |
| Ravenwood            |   | 427,147                       |   | 5-27.5           |
|                 |   |                          |   |             |
| Total Series 5       |   | $   14,679,740 |   |             |
|                 |   |                          |   |             |

----

| SERIES 6             |               |   |   |                                      |
|----------------------|--------------------|--------|--------|-------------------------------------------|
| Apartment Properties |               |   |   |                                      |
|                 |               | # of   |   | Mortgage Loan                             |
| Partnership          | Location           | Units  |   | Balance                                   |
|                 |               |   |   |                                      |
| Carthage             | Carthage, MO       | 24     |   | 544,653                                   |
| Coal City            | Coal City, IL      | 24     |   | 938,880                                   |
| Frazier              | Smyrna, DE         | 30     |   | 1,417,706                                 |
| Ehrhardt             | Ehrhardt, SC       | 16     |   | 539,131                                   |
| Sinton               | Sinton, TX         | 32     |   | 817,980                                   |
| Frankston            | Frankston, TX      | 24     |   | 540,904                                   |
| Flagler Beach        | Flagler Beach, FL  | 43     |   | 1,333,695                                 |
| Oak Ridge            | Williamsburg, KY   | 24     |   | 781,591                                   |
| Monett               | Monett, MO         | 32     |   | 758,847                                   |
| Arma                 | Arma, KS           | 28     |   | 693,168                                   |
| Southwest City       | Southwest City, MO | 12     |   | 306,488                                   |
| Meadowcrest          | Luverne, AL        | 32     |   | 969,052                                   |
| Parsons              | Parsons, KS        | 48     |   | 1,209,167                                 |
| Goodwater Falls      | Jenkins, KY        | 36     |   | 1,023,669                                 |
| Northfield Station   | Corbin, KY         | 24     |   | 767,551                                   |
| Pleasant Hill Square | Somerset, KY       | 24     |   | 747,154                                   |
| Heritage Drive S.    | Jacksonville, TX   | 40     |   | 945,546                                   |
| Brodhead             | Brodhead, KY       | 24     |   | 756,056                                   |
| Mt. Village          | Mt. Vernon, KY     | 24     |   | 755,457                                   |
| Hazlehurst           | Hazlehurst, MS     | 32     |   | 914,493                                   |
| Sunrise              | Yankton, SD        | 33     |   | 1,120,048                                 |
| Stony Creek          | Hooversville, PA   | 32     |   | 1,290,840                                 |
| Logan Place          | Logan, OH          | 40     |   | 1,208,141                                 |
| Haines               | Haines, AK         | 32     |   | 2,299,639                                 |
| Maple Wood           | Barbourville, KY   | 24     |   | 765,333                                   |
| Summerhill           | Gassville, AR      | 28     |   | 1,155,865                                 |
| Dorchester           | St. George, SC     | 12     |   | 445,863                                   |
| Lancaster            | Mountain View, AR  | 33     |   | 1,030,962                                 |
| Dawson               | Dawson, GA         | 40     |   | 1,140,668                                 |
|                 |               |   |   |                                      |
| Total Series 6       |               | 847    |   | $     27,218,547 |
|                 |               |   |   |                                      |

----

| SERIES 6             |   |  Cost at Acquisition Date |   |                                      |
|----------------------|--------|--------------------------------|--------|-------------------------------------------|
| Apartment Properties |   |                           |   |                                      |   | Net Improvements |
|                 |   |                           |   | Buildings                                 |   | Capitalized |
|                 |   |                           |   | Improvements                              |   | Subsequent to |
| Partnership          |   | Land                           |   | & Equipment                           |   | Acquisition |
|                 |   |                           |   |                                      |   |   |
| Carthage             |   | 115,814                        |   | 578,597                                   |   | 142,794  |
| Coal City            |   | 60,055                         |   | 1,121,477                                 |   | 48,892  |
| Frazier              |   | 51,665                         |   | 1,619,209                                 |   | 10,690  |
| Ehrhardt             |   | 9,020                          |   | 671,750                                   |   | 42,799  |
| Sinton               |   | 42,103                         |   | 985,010                                   |   | 26,867  |
| Frankston            |   | 30,000                         |   | 639,068                                   |   | 7,863  |
| Flagler Beach        |   | 118,575                        |   | 1,534,541                                 |   | 65,560  |
| Oak Ridge            |   | 40,000                         |   | 995,782                                   |   | 63,172  |
| Monett               |   | 170,229                        |   | 782,795                                   |   | 110,627  |
| Arma                 |   | 85,512                         |   | 771,316                                   |   | 121,172  |
| Southwest City       |   | 67,303                         |   | 319,272                                   |   | 71,426  |
| Meadowcrest          |   | 72,500                         |   | 1,130,651                                 |   | 48,113  |
| Parsons              |   | 49,780                         |   | 1,483,188                                 |   | 0  |
| Goodwater Falls      |   | 32,000                         |   | 1,142,517                                 |   | 154,630  |
| Northfield Station   |   | 44,250                         |   | 977,220                                   |   | (50,426) |
| Pleasant Hill Square |   | 35,000                         |   | 893,323                                   |   | (21,651) |
| Heritage Drive S.    |   | 44,247                         |   | 1,151,157                                 |   | 108,134  |
| Brodhead             |   | 21,600                         |   | 932,468                                   |   | 57,074  |
| Mt. Village          |   | 55,000                         |   | 884,596                                   |   | 37,887  |
| Hazlehurst           |   | 60,000                         |   | 1,118,734                                 |   | 49,741  |
| Sunrise              |   | 90,000                         |   | 1,269,252                                 |   | 165,069  |
| Stony Creek          |   | 0                              |   | 1,428,656                                 |   | 238,867  |
| Logan Place          |   | 39,300                         |   | 1,477,527                                 |   | 10,085  |
| Haines               |   | 189,323                        |   | 2,851,953                                 |   | 146,622  |
| Maple Wood           |   | 79,000                         |   | 924,144                                   |   | 36,646  |
| Summerhill           |   | 23,000                         |   | 788,157                                   |   | 508,629  |
| Dorchester           |   | 13,000                         |   | 239,455                                   |   | 308,371  |
| Lancaster            |   | 37,500                         |   | 1,361,272                                 |   | (10,273) |
| Dawson               |   | 40,000                         |   | 346,569                                   |   | 1,088,404  |
|                 |   |                           |   |                                      |   |   |
| Total Series 6       |   | $   1,715,776   |   | $     30,419,656 |   | $        3,587,784  |
|                 |   |                           |   |                                      |   |   |

----

| SERIES 6             |   |                                               |   |                                            |   |                                                  |
|----------------------|--------|----------------------------------------------------|--------|-------------------------------------------------|--------|-------------------------------------------------------|
| Apartment Properties |   | Gross Amount At Which Carried At December 31, 2009 |
|                 |   |                                               |   | Buildings,                                      |   |                                                  |
|                 |   |                                               |   | Improvements                                    |   |                                                  |
| Partnership          |   | Land                                               |   | & Equipment                                 |   | Total                                                 |
|                 |   |                                               |   |                                            |   |                                                  |
| Carthage             |   | 119,404                                            |   | 717,801                                         |   | 837,205                                               |
| Coal City            |   | 60,055                                             |   | 1,170,369                                       |   | 1,230,424                                             |
| Frazier              |   | 51,665                                             |   | 1,629,899                                       |   | 1,681,564                                             |
| Ehrhardt             |   | 9,020                                              |   | 714,549                                         |   | 723,569                                               |
| Sinton               |   | 42,103                                             |   | 1,011,877                                       |   | 1,053,980                                             |
| Frankston            |   | 30,000                                             |   | 646,931                                         |   | 676,931                                               |
| Flagler Beach        |   | 118,575                                            |   | 1,600,101                                       |   | 1,718,676                                             |
| Oak Ridge            |   | 45,800                                             |   | 1,053,154                                       |   | 1,098,954                                             |
| Monett               |   | 174,281                                            |   | 889,370                                         |   | 1,063,651                                             |
| Arma                 |   | 101,562                                            |   | 876,438                                         |   | 978,000                                               |
| Southwest City       |   | 88,436                                             |   | 369,565                                         |   | 458,001                                               |
| Meadowcrest          |   | 87,700                                             |   | 1,163,564                                       |   | 1,251,264                                             |
| Parsons              |   | 49,780                                             |   | 1,483,188                                       |   | 1,532,968                                             |
| Goodwater Falls      |   | 32,000                                             |   | 1,297,147                                       |   | 1,329,147                                             |
| Northfield Station   |   | 44,250                                             |   | 926,794                                         |   | 971,044                                               |
| Pleasant Hill Square |   | 29,550                                             |   | 877,122                                         |   | 906,672                                               |
| Heritage Drive S.    |   | 37,440                                             |   | 1,266,098                                       |   | 1,303,538                                             |
| Brodhead             |   | 21,600                                             |   | 989,542                                         |   | 1,011,142                                             |
| Mt. Village          |   | 56,450                                             |   | 921,033                                         |   | 977,483                                               |
| Hazlehurst           |   | 60,000                                             |   | 1,168,475                                       |   | 1,228,475                                             |
| Sunrise              |   | 118,148                                            |   | 1,406,173                                       |   | 1,524,321                                             |
| Stony Creek          |   | 80,000                                             |   | 1,587,523                                       |   | 1,667,523                                             |
| Logan Place          |   | 39,300                                             |   | 1,487,612                                       |   | 1,526,912                                             |
| Haines               |   | 189,323                                            |   | 2,998,575                                       |   | 3,187,898                                             |
| Maple Wood           |   | 79,000                                             |   | 960,790                                         |   | 1,039,790                                             |
| Summerhill           |   | 23,000                                             |   | 1,296,786                                       |   | 1,319,786                                             |
| Dorchester           |   | 13,000                                             |   | 547,826                                         |   | 560,826                                               |
| Lancaster            |   | 37,500                                             |   | 1,350,999                                       |   | 1,388,499                                             |
| Dawson               |   | 40,000                                             |   | 1,434,973                                       |   | 1,474,973                                             |
|                 |   |                                               |   |                                            |   |                                                  |
| Total Series 6       |   | $   1,878,942                       |   | $      33,844,274 |   | $       35,723,216 |
|                 |   |                                               |   |                                            |   |                                                  |

----

| SERIES 6             |   |                          |   |             |
|----------------------|--------|-------------------------------|--------|------------------|
| Apartment Properties |   |                          |   |             |
|                 |   | Accumulated                   |   | Depreciable Life |
| Partnership          |   | Depreciation                  |   |
|                 |   |                          |   |             |
| Carthage             |   | 544,559                       |   | 5-27.5           |
| Coal City            |   | 599,583                       |   | 5-27.5           |
| Frazier              |   | 1,107,966                     |   | 5-27.5           |
| Ehrhardt             |   | 443,059                       |   | 5-27.5           |
| Sinton               |   | 382,896                       |   | 5-50             |
| Frankston            |   | 240,350                       |   | 5-50             |
| Flagler Beach        |   | 726,588                       |   | 5-40             |
| Oak Ridge            |   | 651,664                       |   | 5-27.5           |
| Monett               |   | 708,726                       |   | 5-27.5           |
| Arma                 |   | 638,060                       |   | 5-27.5           |
| Southwest City       |   | 296,083                       |   | 5-27.5           |
| Meadowcrest          |   | 551,086                       |   | 5-40             |
| Parsons              |   | 1,042,930                     |   | 5-27.5           |
| Goodwater Falls      |   | 551,742                       |   | 5-27.5           |
| Northfield Station   |   | 393,888                       |   | 5-27.5           |
| Pleasant Hill Square |   | 370,282                       |   | 5-27.5           |
| Heritage Drive S.    |   | 840,941                       |   | 5-25             |
| Brodhead             |   | 435,099                       |   | 5-40             |
| Mt. Village          |   | 413,068                       |   | 5-50             |
| Hazlehurst           |   | 478,767                       |   | 5-40             |
| Sunrise              |   | 897,940                       |   | 5-27.5           |
| Stony Creek          |   | 712,606                       |   | 5-27.5           |
| Logan Place          |   | 815,297                       |   | 5-27.5           |
| Haines               |   | 1,918,848                     |   | 5-27.5           |
| Maple Wood           |   | 625,716                       |   | 5-27.5           |
| Summerhill           |   | 489,187                       |   | 5-27.5           |
| Dorchester           |   | 339,923                       |   | 5-27.5           |
| Lancaster            |   | 641,824                       |   | 5-40             |
| Dawson               |   | 583,042                       |   | 5-40             |
|                 |   |                          |   |             |
| Total Series 6       |   | $   18,441,720 |   |             |
|                 |   |                          |   |             |

----

| SERIES 2                                                                  |                             |          |                                           |
|---------------------------------------------------------------------------|----------------------------------|---------------|------------------------------------------------|
| Reconciliation of Land, Building & Improvements current year changes: |                             |          |
| Balance at beginning of period - December 31, 2008                        |                             |          | $   19,942,482             |
| Additions during period:                                                  |                             |          |                                           |
|                                                                      | Acquisitions through foreclosure | 0        |                                           |   |
|                                                                      | Other acquisitions               | 97,388   |                                           |   |
|                                                                      | Improvements, etc.               | 0        |                                           |   |
|                                                                      | Other                            | 0        |                                           |   |
|                                                                      |                             |          |                                           | 97,388  |
| Deductions during period:                                                 |                             |          |                                           |
|                                                                      | Cost of real estate sold         | (6,859,394)   |                                           |   |
|                                                                      | Other                            | (3)           |                                           |   |
|                                                                      |                             |          |                                           | (6,859,397) |
|                                                                      |                             |          |                                           |   |
| Balance at end of period - December 31, 2009                              |                             |          | $   13,180,473             |
|                                                                      |                             |          |                                           |   |
| Reconciliation of Accumulated Depreciation current year changes:          |                             |          |
| Balance at beginning of period - December 31, 2008                        |                             |          | $   11,263,643             |
|                                                                      | Current year expense             | 391,940  |                                           |   |
|                                                                      | Sale of assets                   | (4,042,951)   |                                           |   |
|                                                                      | Prior year adjustments           | (3)           |                                           |   |
|                                                                      |                             |          |                                           | (3,651,014) |
|                                                                      |                             |          |                                           |   |
| Balance at end of period - December 31, 2009                              |                             |          | $     7,612,629  |
|                                                                      |                             |          |                                           |   |

| SERIES 3                                                                  |                             |          |                                |
|---------------------------------------------------------------------------|----------------------------------|---------------|-------------------------------------|
| Reconciliation of Land, Building & Improvements current year changes: |                             |          |
| Balance at beginning of period - December 31, 2008                        |                             |          | $   18,014,901  |
| Additions during period:                                                  |                             |          |                                |
|                                                                      | Acquisitions through foreclosure | 0        |                                |   |
|                                                                      | Other acquisitions               | 94,698   |                                |   |
|                                                                      | Improvements, etc.               | 0        |                                |   |
|                                                                      | Other                            | 0        |                                |   |
|                                                                      |                             |          |                                | 94,698  |
| Deductions during period:                                                 |                             |          |                                |
|                                                                      | Cost of real estate sold         | 0        |                                |   |
|                                                                      | Other                            | 0        |                                |   |
|                                                                      |                             |          |                                | 0  |
|                                                                      |                             |          |                                |   |
| Balance at end of period - December 31, 2009                              |                             |          | $   18,109,599  |
|                                                                      |                             |          |                                |   |
| Reconciliation of Accumulated Depreciation current year changes:          |                             |          |
| Balance at beginning of period - December 31, 2008                        |                             |          | $   13,026,461  |
|                                                                      | Current year expense             | 651,907  |                                |   |
|                                                                      | Sale of assets                   | 0        |                                |   |
|                                                                      | Prior year adjustments           | 0        |                                |   |
|                                                                      |                             |          |                                | 651,907  |
|                                                                      |                             |          |                                |   |
| Balance at end of period - December 31, 2009                              |                             |          | $   13,678,368  |
|                                                                      |                             |          |                                |   |

----

| SERIES 4                                                                  |                             |          |                                           |
|---------------------------------------------------------------------------|----------------------------------|---------------|------------------------------------------------|
| Reconciliation of Land, Building & Improvements current year changes: |                             |          |
| Balance at beginning of period - December 31, 2008                        |                             |          | $   10,768,405             |
| Additions during period:                                                  |                             |          |                                           |
|                                                                      | Acquisitions through foreclosure | 0        |                                           |   |
|                                                                      | Other acquisitions               | 12,205   |                                           |   |
|                                                                      | Improvements, etc.               | 0        |                                           |   |
|                                                                      | Other                            | 0        |                                           |   |
|                                                                      |                             |          |                                           | 12,205  |
| Deductions during period:                                                 |                             |          |                                           |
|                                                                      | Cost of real estate sold         | (976,884)     |                                           |   |
|                                                                      | Other                            | (1)           |                                           |   |
|                                                                      |                             |          |                                           | (976,885) |
|                                                                      |                             |          |                                           |   |
| Balance at end of period - December 31, 2009                              |                             |          | $     9,803,725  |
|                                                                      |                             |          |                                           |   |
| Reconciliation of Accumulated Depreciation current year changes:          |                             |          |
| Balance at beginning of period - December 31, 2008                        |                             |          | $     6,452,311  |
|                                                                      | Current year expense             | 320,168  |                                           |   |
|                                                                      | Sale of assets                   | (632,530)     |                                           |   |
|                                                                      | Prior year adjustments           | (1)           |                                           |   |
|                                                                      |                             |          |                                           | (312,363) |
|                                                                      |                             |          |                                           |   |
| Balance at end of period - December 31, 2009                              |                             |          | $     6,139,948  |
|                                                                      |                             |          |                                           |   |

| SERIES 5                                                                  |                             |          |                                |
|---------------------------------------------------------------------------|----------------------------------|---------------|-------------------------------------|
| Reconciliation of Land, Building & Improvements current year changes: |                             |          |
| Balance at beginning of period - December 31, 2008                        |                             |          | $   33,401,604  |
| Additions during period:                                                  |                             |          |                                |
|                                                                      | Acquisitions through foreclosure | 0        |                                |   |
|                                                                      | Other acquisitions               | 40,963   |                                |   |
|                                                                      | Improvements, etc.               | 0        |                                |   |
|                                                                      | Other                            | 0        |                                |   |
|                                                                      |                             |          |                                | 40,963  |
| Deductions during period:                                                 |                             |          |                                |
|                                                                      | Cost of real estate sold         | (8,653,400)   |                                |   |
|                                                                      | Other                            | (5,034)       |                                |   |
|                                                                      |                             |          |                                | (8,658,434) |
|                                                                      |                             |          |                                |   |
| Balance at end of period - December 31, 2009                              |                             |          | $   24,784,133  |
|                                                                      |                             |          |                                |   |
| Reconciliation of Accumulated Depreciation current year changes:          |                             |          |
| Balance at beginning of period - December 31, 2008                        |                             |          | $   18,621,856  |
|                                                                      | Current year expense             | 803,244  |                                |   |
|                                                                      | Sale of assets                   | (4,740,326)   |                                |   |
|                                                                      | Prior year adjustments           | (5,034)       |                                |   |
|                                                                      |                             |          |                                | (3,942,116) |
|                                                                      |                             |          |                                |   |
| Balance at end of period - December 31, 2009                              |                             |          | $   14,679,740  |
|                                                                      |                             |          |                                |   |

----

| SERIES 6                                                                  |                             |            |                                |
|---------------------------------------------------------------------------|----------------------------------|-----------------|-------------------------------------|
| Reconciliation of Land, Building & Improvements current year changes: |                             |            |
| Balance at beginning of period - December 31, 2008                        |                             |            | $   35,525,117  |
| Additions during period:                                                  |                             |            |                                |
|                                                                      | Acquisitions through foreclosure | 0          |                                |   |
|                                                                      | Other acquisitions               | 198,097    |                                |   |
|                                                                      | Improvements, etc.               | 0          |                                |   |
|                                                                      | Other                            | 0          |                                |   |
|                                                                      |                             |            |                                | 198,097  |
| Deductions during period:                                                 |                             |            |                                |
|                                                                      | Cost of real estate sold         | 0          |                                |   |
|                                                                      | Other                            | 2          |                                |   |
|                                                                      |                             |            |                                | 2  |
|                                                                      |                             |            |                                |   |
| Balance at end of period - December 31, 2009                              |                             |            | $   35,723,216  |
|                                                                      |                             |            |                                |   |
| Reconciliation of Accumulated Depreciation current year changes:          |                             |            |
| Balance at beginning of period - December 31, 2008                        |                             |            | $   17,375,761  |
|                                                                      | Current year expense             | 1,065,957  |                                |   |
|                                                                      | Sale of assets                   | 0          |                                |   |
|                                                                      | Prior year adjustments           | 2          |                                |   |
|                                                                      |                             |            |                                | 1,065,959  |
|                                                                      |                             |            |                                |   |
| Balance at end of period - December 31, 2009                              |                             |            | $   18,441,720  |
|                                                                      |                             |            |                                |   |

----

| SERIES 2           |   |       |   |                                                                             |   |          |   |                 |   |         |
|--------------------|--------|------------|--------|----------------------------------------------------------------------------------|--------|---------------|--------|----------------------|--------|--------------|
| PARTNERSHIP        |   | # OF UNITS |   | BALANCE                                                                          |   | INTEREST RATE |   | MONTHLY DEBT SERVICE |   | TERM (YEARS) |
|               |   |       |   |                                                                             |
|               |   |       |   |                                                                             |
|               |   |       |   |                                                                             |   |          |   |                 |   |         |
| Deerfield II       |   | 24         |   | $            673,819 |   | 8.75%         |   | 6,284                |   | 50           |
| Hartwell Family    |   | 24         |   | 677,161                                                                          |   | 8.75%         |   | 5,307                |   | 50           |
| Cherrytree Apts.   |   | 33         |   | 1,153,019                                                                        |   | 8.75%         |   | 9,011                |   | 50           |
| Springwood Apts.   |   | 32         |   | 1,201,984                                                                        |   | 8.75%         |   | 9,218                |   | 50           |
| Pearson Elderly    |   | 25         |   | 586,064                                                                          |   | 9.00%         |   | 4,926                |   | 50           |
| Richland Elderly   |   | 34         |   | 833,284                                                                          |   | 8.75%         |   | 6,517                |   | 50           |
| Woodland Terrace   |   | 30         |   | 853,064                                                                          |   | 8.75%         |   | 6,666                |   | 50           |
| Mt. Vernon Elderly |   | 21         |   | 551,128                                                                          |   | 8.75%         |   | 4,309                |   | 50           |
| Lakeland Elderly   |   | 29         |   | 746,182                                                                          |   | 8.75%         |   | 5,882                |   | 50           |
| Manchester Housing |   | 49         |   | 1,398,519                                                                        |   | 8.75%         |   | 10,958               |   | 50           |
| Durango C.W.W.     |   | 24         |   | 999,127                                                                          |   | 9.00%         |   | 7,739                |   | 50           |
| Columbus Sr.       |   | 16         |   | 419,321                                                                          |   | 8.25%         |   | 3,102                |   | 50           |
|               |   |       |   |                                                                             |   |          |   |                 |   |         |
| Total Series 2     |   | 341        |   | $       10,092,672                            |   |          |   |                 |   |         |
|               |   |       |   |                                                                             |   |          |   |                 |   |         |

| SERIES 3           |   |       |   |                                                             |   |          |   |                 |   |         |
|--------------------|--------|------------|--------|------------------------------------------------------------------|--------|---------------|--------|----------------------|--------|--------------|
| PARTNERSHIP        |   | # OF UNITS |   | BALANCE                                                          |   | INTEREST RATE |   | MONTHLY DEBT SERVICE |   | TERM (YEARS) |
|               |   |       |   |                                                             |
|               |   |       |   |                                                             |
|               |   |       |   |                                                             |   |          |   |                 |   |         |
| Poteau II          |   | 52         |   | $         1,234,525 |   | 9.50%         |   | 10,682               |   | 50           |
| Sallisaw           |   | 52         |   | 1,261,303                                                        |   | 9.50%         |   | 10,654               |   | 50           |
| Nowata Properties  |   | 32         |   | 824,379                                                          |   | 9.50%         |   | 6,905                |   | 50           |
| Waldron Properties |   | 24         |   | 612,386                                                          |   | 9.00%         |   | 4,950                |   | 50           |
| Roland II          |   | 52         |   | 1,258,231                                                        |   | 9.50%         |   | 10,657               |   | 50           |
| Stilwell           |   | 48         |   | 1,140,048                                                        |   | 9.50%         |   | 9,727                |   | 50           |
| Hornellsville      |   | 24         |   | 855,514                                                          |   | 9.00%         |   | 6,927                |   | 50           |
| CE McKinley II     |   | 16         |   | 505,208                                                          |   | 8.75%         |   | 5,146                |   | 50           |
| Weston Apartments  |   | 10         |   | 261,788                                                          |   | 9.00%         |   | 2,131                |   | 50           |
| Countrywood Apts.  |   | 40         |   | 1,143,503                                                        |   | 9.00%         |   | 9,310                |   | 50           |
| Wildwood Apts.     |   | 28         |   | 815,378                                                          |   | 9.50%         |   | 6,906                |   | 50           |
| Hancock            |   | 12         |   | 326,154                                                          |   | 9.50%         |   | 3,119                |   | 50           |
| Hopkins            |   | 24         |   | 684,682                                                          |   | 8.75%         |   | 5,815                |   | 50           |
| Elkhart Apts.      |   | 54         |   | 1,033,539                                                        |   | 9.00%         |   | 9,198                |   | 40           |
| Heritage Villas    |   | 25         |   | 651,182                                                          |   | 8.75%         |   | 5,110                |   | 50           |
|               |   |       |   |                                                             |   |          |   |                 |   |         |
| Total Series 3     |   | 493        |   | $       12,607,820            |   |          |   |                 |   |         |
|               |   |       |   |                                                             |   |          |   |                 |   |         |

----

| SERIES 4           |   |       |   |                                                                             |   |          |   |                 |   |         |
|--------------------|--------|------------|--------|----------------------------------------------------------------------------------|--------|---------------|--------|----------------------|--------|--------------|
| PARTNERSHIP        |   | # OF UNITS |   | BALANCE                                                                          |   | INTEREST RATE |   | MONTHLY DEBT SERVICE |   | TERM (YEARS) |
|               |   |       |   |                                                                             |
|               |   |       |   |                                                                             |
|               |   |       |   |                                                                             |   |          |   |                 |   |         |
| Seneca Apartments  |   | 24         |   | $            586,151 |   | 9.00%         |   | 4,692                |   | 50           |
| Westville          |   | 36         |   | 826,737                                                                          |   | 8.75%         |   | 6,448                |   | 50           |
| Wellsville Senior  |   | 24         |   | 623,600                                                                          |   | 8.75%         |   | 4,859                |   | 50           |
| Stilwell II        |   | 52         |   | 1,240,102                                                                        |   | 8.75%         |   | 9,672                |   | 50           |
| Spring Hill Senior |   | 24         |   | 669,962                                                                          |   | 8.75%         |   | 5,236                |   | 50           |
| Wynnwood Common    |   | 34         |   | 1,320,072                                                                        |   | 8.75%         |   | 10,300               |   | 50           |
| Courtyard          |   | 21         |   | 685,800                                                                          |   | 9.25%         |   | 5,622                |   | 50           |
| Piedmont           |   | 36         |   | 1,001,007                                                                        |   | 8.75%         |   | 7,856                |   | 50           |
| S.F. Arkansas City |   | 12         |   | 331,957                                                                          |   | 10.62%        |   | 3,056                |   | 50           |
|               |   |       |   |                                                                             |   |          |   |                 |   |         |
| Total Series 4     |   | 263        |   | $         7,285,388                 |   |          |   |                 |   |         |
|               |   |       |   |                                                                             |   |          |   |                 |   |         |

| SERIES 5           |   |       |   |                                                                             |   |          |   |                 |   |         |
|--------------------|--------|------------|--------|----------------------------------------------------------------------------------|--------|---------------|--------|----------------------|--------|--------------|
| PARTNERSHIP        |   | # OF UNITS |   | BALANCE                                                                          |   | INTEREST RATE |   | MONTHLY DEBT SERVICE |   | TERM (YEARS) |
|               |   |       |   |                                                                             |
|               |   |       |   |                                                                             |
|               |   |       |   |                                                                             |   |          |   |                 |   |         |
| S.F. Winfield      |   | 12         |   | $            324,804 |   | 11.37%        |   | 3,016                |   | 50           |
| S.F.Medicine Lodge |   | 16         |   | 442,103                                                                          |   | 10.62%        |   | 4,049                |   | 50           |
| S.F. Ottawa        |   | 24         |   | 556,384                                                                          |   | 10.62%        |   | 5,126                |   | 50           |
| S.F. Concordia     |   | 20         |   | 544,300                                                                          |   | 11.87%        |   | 5,498                |   | 50           |
| Carrollton Club    |   | 78         |   | 2,569,684                                                                        |   | 7.75%         |   | 18,064               |   | 50           |
| Scarlett Oaks      |   | 40         |   | 1,335,116                                                                        |   | 8.25%         |   | 9,870                |   | 50           |
| Brooks Hill        |   | 44         |   | 1,406,140                                                                        |   | 8.25%         |   | 10,398               |   | 50           |
| Greensboro         |   | 24         |   | 702,089                                                                          |   | 7.75%         |   | 4,937                |   | 50           |
| Greensboro II      |   | 32         |   | 860,487                                                                          |   | 7.75%         |   | 6,129                |   | 50           |
| Crawford           |   | 25         |   | 715,891                                                                          |   | 8.25%         |   | 5,302                |   | 50           |
| Yorkshire          |   | 60         |   | 2,001,786                                                                        |   | 8.25%         |   | 14,842               |   | 50           |
| Clayton            |   | 24         |   | 642,102                                                                          |   | 8.25%         |   | 4,760                |   | 50           |
| Alma               |   | 24         |   | 706,648                                                                          |   | 8.75%         |   | 8,018                |   | 50           |
| Spring Hill        |   | 36         |   | 1,082,808                                                                        |   | 8.25%         |   | 8,018                |   | 50           |
| Menard Retirement  |   | 24         |   | 604,549                                                                          |   | 8.75%         |   | 4,715                |   | 50           |
| Wallis Housing     |   | 24         |   | 346,714                                                                          |   | 8.75%         |   | 3,688                |   | 50           |
| Mill Creek         |   | 60         |   | 1,377,894                                                                        |   | 8.25%         |   | 10,192               |   | 50           |
| Cloverdale         |   | 24         |   | 729,945                                                                          |   | 8.75%         |   | 5,693                |   | 50           |
| S. Timber Ridge    |   | 44         |   | 1,025,997                                                                        |   | 8.75%         |   | 7,986                |   | 50           |
| Pineville          |   | 12         |   | 307,584                                                                          |   | 8.25%         |   | 2,318                |   | 50           |
| Ravenwood          |   | 24         |   | 696,738                                                                          |   | 7.25%         |   | 4,595                |   | 50           |
|               |   |       |   |                                                                             |   |          |   |                 |   |         |
| Total Series 5     |   | 671        |   | $       18,979,763                            |   |          |   |                 |   |         |
|               |   |       |   |                                                                             |   |          |   |                 |   |         |

----

| SERIES 6             |   |       |   |                                                                             |   |          |   |                 |   |         |
|----------------------|--------|------------|--------|----------------------------------------------------------------------------------|--------|---------------|--------|----------------------|--------|--------------|
| PARTNERSHIP          |   | # OF UNITS |   | BALANCE                                                                          |   | INTEREST RATE |   | MONTHLY DEBT SERVICE |   | TERM (YEARS) |
|                 |   |       |   |                                                                             |
|                 |   |       |   |                                                                             |
|                 |   |       |   |                                                                             |   |          |   |                 |   |         |
| Carthage             |   | 24         |   | $            544,653 |   | 8.75%         |   | 4,371                |   | 50           |
| Coal City            |   | 24         |   | 938,880                                                                          |   | 7.75%         |   | 6,578                |   | 50           |
| Frazier              |   | 30         |   | 1,417,706                                                                        |   | 8.25%         |   | 10,470               |   | 50           |
| Ehrhardt             |   | 16         |   | 539,131                                                                          |   | 7.75%         |   | 3,791                |   | 50           |
| Sinton               |   | 32         |   | 817,980                                                                          |   | 8.25%         |   | 6,063                |   | 50           |
| Frankston            |   | 24         |   | 540,904                                                                          |   | 8.75%         |   | 4,207                |   | 50           |
| Flagler Beach        |   | 43         |   | 1,333,695                                                                        |   | 8.25%         |   | 9,864                |   | 50           |
| Oak Ridge            |   | 24         |   | 781,591                                                                          |   | 8.25%         |   | 5,800                |   | 50           |
| Monett               |   | 32         |   | 758,847                                                                          |   | 8.25%         |   | 5,598                |   | 50           |
| Arma                 |   | 28         |   | 693,168                                                                          |   | 8.75%         |   | 5,388                |   | 50           |
| Southwest City       |   | 12         |   | 306,488                                                                          |   | 8.25%         |   | 2,271                |   | 50           |
| Meadowcrest          |   | 32         |   | 969,052                                                                          |   | 8.25%         |   | 7,160                |   | 50           |
| Parsons              |   | 48         |   | 1,209,167                                                                        |   | 7.75%         |   | 8,485                |   | 50           |
| Goodwater Falls      |   | 36         |   | 1,023,669                                                                        |   | 7.75%         |   | 7,980                |   | 50           |
| Northfield Station   |   | 24         |   | 767,551                                                                          |   | 7.75%         |   | 5,379                |   | 50           |
| Pleasant Hill Square |   | 24         |   | 747,154                                                                          |   | 7.75%         |   | 5,315                |   | 50           |
| Heritage Drive S.    |   | 40         |   | 945,546                                                                          |   | 8.25%         |   | 6,990                |   | 50           |
| Brodhead             |   | 24         |   | 756,056                                                                          |   | 7.75%         |   | 5,303                |   | 50           |
| Mt. Village          |   | 24         |   | 755,457                                                                          |   | 8.25%         |   | 5,574                |   | 50           |
| Hazlehurst           |   | 32         |   | 914,493                                                                          |   | 8.25%         |   | 7,105                |   | 50           |
| Sunrise              |   | 33         |   | 1,120,048                                                                        |   | 8.75%         |   | 8,711                |   | 50           |
| Stony Creek          |   | 32         |   | 1,290,840                                                                        |   | 8.75%         |   | 9,065                |   | 50           |
| Logan Place          |   | 40         |   | 1,208,141                                                                        |   | 8.25%         |   | 8,909                |   | 50           |
| Haines               |   | 32         |   | 2,299,639                                                                        |   | 8.25%         |   | 16,950               |   | 50           |
| Maple Wood           |   | 24         |   | 765,333                                                                          |   | 7.75%         |   | 5,381                |   | 50           |
| Summerhill           |   | 28         |   | 1,155,865                                                                        |   | 8.25%         |   | 5,911                |   | 50           |
| Dorchester           |   | 12         |   | 445,863                                                                          |   | 7.75%         |   | 3,118                |   | 50           |
| Lancaster            |   | 33         |   | 1,030,962                                                                        |   | 7.75%         |   | 7,775                |   | 50           |
| Dawson               |   | 40         |   | 1,140,668                                                                        |   | 7.25%         |   | 7,524                |   | 50           |
|                 |   |       |   |                                                                             |   |          |   |                 |   |         |
| Total Series 6       |   | 847        |   | $       27,218,547                            |   |          |   |                 |   |         |
|                 |   |       |   |                                                                             |   |          |   |                 |   |         |

----

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

| Date: June 29, 2010 |   | By:/s/ Ronald M. Diner |
|---------------------|--------|------------------------|
|                |   | Ronald M. Diner        |
|                |   | President and Director |

| Date: June 29, 2010 |   | By:/s/ J. Davenport Mosby III |
|---------------------|--------|-------------------------------|
|                |   | J. Davenport Mosby III        |
|                |   | Director                      |

| Date: June 29, 2010 |   | By:/s/ Toni S. Matthews                    |
|---------------------|--------|--------------------------------------------|
|                |   | Toni S. Matthews                           |
|                |   | Vice President and Chief Financial Officer |

| Date: June 29, 2010 |   | By:/s/ Sandra C. Humphreys |
|---------------------|--------|----------------------------|
|                |   | Sandra C. Humphreys        |
|                |   | Secretary and Treasurer    |