# EDGAR Filing Document

**Accession Number:** 0000913778
**File Stem:** 0001410578-23-000101
**Filing Date:** 2023-2
**Character Count:** 270869
**Document Hash:** 57a665b577e274b8dcb016bb102c769e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410578-23-000101.hdr.sgml**: 20230213

**ACCESSION NUMBER**: 0001410578-23-000101

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 42

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230213

**DATE AS OF CHANGE**: 20230213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BF Garden Tax Credit Fund IV L.P.
- **CENTRAL INDEX KEY:** 0000913778
- **STANDARD INDUSTRIAL CLASSIFICATION:** OPERATORS OF APARTMENT BUILDINGS [6513]
- **IRS NUMBER:** 043208648
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-26200
- **FILM NUMBER:** 23617074

**BUSINESS ADDRESS:**
- **STREET 1:** 101 ARCH STREET
- **STREET 2:** 13TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02108
- **BUSINESS PHONE:** (888) 773-1487

**MAIL ADDRESS:**
- **STREET 1:** 101 ARCH STREET
- **STREET 2:** 13TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02108

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BOSTON CAPITAL TAX CREDIT FUND IV LP
- **DATE OF NAME CHANGE:** 19931020

?xml version='1.0' encoding='UTF-8'?

[**Table of Contents**](#TOC)

------

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE

ACT OF 1934.

For the quarterly period ended December 31, 2022

or

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

For the transition period from _______ to _______

Commission file number&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0-26200

BF GARDEN TAX CREDIT FUND IV L.P.

(Exact name of registrant as specified in its charter)

<u>Delaware</u> &nbsp;&nbsp;&nbsp;&nbsp; <u>04-3208648</u> <br> (State or other jurisdictionof incorporation or organization) (I.R.S. EmployerIdentification No.)

101 Arch Street, 13<sup>th</sup> Floor Boston, Massachusetts 02110

(Address of principal executive offices)&nbsp;&nbsp;&nbsp;&nbsp;(Zip Code)

(888) 773-1487

(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Title of each class | Trading Symbol(s) | Name of each exchange on which registered |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

---

| | |
|:---|:---|
| Yes ☒ | No ☐ |

---

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

---

| | |
|:---|:---|
| Yes ☒ | No ☐ |

---

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated Filer ☐ <br> Non-accelerated filer ☒ Smaller Reporting Company ☒ <br> Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

---

| | |
|:---|:---|
| Yes ☐ | No ☒ |

---

------

[**Table of Contents**](#TOC)

BF GARDEN TAX CREDIT FUND IV L.P.

QUARTERLY REPORT ON FORM 10-Q

FOR THE QUARTER ENDED DECEMBER 31, 2022

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
|  | Pages |
| [PART I FINANCIAL INFORMATION](#BalansheetStarting) |  |
| [Item 1. Condensed Financial Statements](#BalansheetStarting) | [Item 1. Condensed Financial Statements](#BalansheetStarting) |
| [Condensed Balance Sheets](#BalansheetStarting) | 3-30 |
| [Condensed Statements of Operations](#CONDENSEDSTATEMENTSOFOPERATIONSStarting) | 31-86 |
| [Condensed Statements of Changes in Partners' Capital (Deficit)](#PARTNERSCAPITAL) | 87-114 |
| [Condensed Statements of Cash Flows](#CASHFLOWSStarting) | 115-142 |
| [Notes to Condensed Financial Statements](#NOTEAORGANIZATION_269597) | 143-176 |
| [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](#Item2ManagementsDiscussionsandAnalysisof) | 177-189 |
| [Item 3. Quantitative and Qualitative Disclosures About Market Risk](#Item3QuantitativeandQualitativeDisclosur) | 189 |
| [Item 4. Controls and Procedures](#Item4ControlsandProcedures_931707) | 189 |
| [PART II OTHER INFORMATION](#PARTIIOTHERINFORMATION_532816) |  |
| [Item 1. Legal Proceedings](#Item1LegalProceedings_901562) | 190 |
| [Item 1A. Risk Factors](#Item1ARiskFactors_689535) | 190 |
| [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](#Item2UnregisteredSalesofEquitySecurities) | 190 |
| [Item 3. Defaults Upon Senior Securities](#Item3DefaultsUponSeniorSecurities_386826) | 190 |
| [Item 4. Mine Safety Disclosures](#Item4MineSafetyDisclosures_236047) | 190 |
| [Item 5. Other Information](#Item5OtherInformation_462950) | 190 |
| [Item 6. Exhibits](#Item6Exhibits_760758) | 190 |
| [Signatures](#SIGNATURES_808709) | 191 |

---

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents | 892099 | 2370898 |
| &nbsp;&nbsp;Other assets | 2500 | 6288 |
|  | $894599 | $2377186 |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $359621 | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) | 7017470 | 8781884 |
| &nbsp;&nbsp;Capital contributions payable | 785 | 785 |
|  | 7377876 | 8782669 |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 83,651,080 issued and 82,874,653 outstanding as of December 31, 2022 and March 31, 2022. | (7408457) | (7296726) |
| General Partner | 925180 | 891243 |
|  | (6483277) | (6405483) |
|  | $894599 | $2377186 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 20

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,866,700 issued and 3,828,200 outstanding as of December 31, 2022 and March 31, 2022. | (754767) | (754767) |
| General Partner | 754767 | 754767 |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 21

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 1,892,700 issued and 1,879,500 outstanding as of December 31, 2022 and March 31, 2022. | (898231) | (898231) |
| General Partner | 898231 | 898231 |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 22

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,564,400 issued and 2,550,145 outstanding as of December 31, 2022 and March 31, 2022. | (2448362) | (2448362) |
| General Partner | 2448362 | 2448362 |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 23

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,336,727 issued and 3,303,327 outstanding as of December 31, 2022 and March 31, 2022. | (224264) | (224264) |
| General Partner | 224264 | 224264 |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 24

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,169,878 issued and 2,150,053 outstanding as of December 31, 2022 and March 31, 2022. | 173404 | 173404 |
| General Partner | (173404) | (173404) |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 25

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,026,109 issued and 3,016,809 outstanding as of December 31, 2022 and March 31, 2022. | 219815 | 219815 |
| General Partner | (219815) | (219815) |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 26

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,995,900 issued and 3,926,374 outstanding as of December 31, 2022 and March 31, 2022. | 313969 | 313969 |
| General Partner | (313969) | (313969) |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 27

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,460,700 issued and 2,431,350 outstanding as of December 31, 2022 and March 31, 2022. | 133264 | 133264 |
| General Partner | (133264) | (133264) |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 28

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 4,000,738 issued and 3,979,139 outstanding as of December 31, 2022 and March 31, 2022. | 275140 | 275140 |
| General Partner | (275140) | (275140) |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 29

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents | 55425 | 108768 |
| &nbsp;&nbsp;Other assets | 2500 | 2500 |
|  | $57925 | $111268 |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) | 3112174 | 3108790 |
| &nbsp;&nbsp;Capital contributions payable | 785 | 785 |
|  | 3112959 | 3109575 |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,991,800 issued and 3,911,725 outstanding as of December 31, 2022 and March 31, 2022. | (2685837) | (2629677) |
| General Partner | (369197) | (368630) |
|  | (3055034) | (2998307) |
|  | $57925 | $111268 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 30

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,651,000 issued and 2,621,200 outstanding as of December 31, 2022 and March 31, 2022. | (883119) | (883119) |
| General Partner | 883119 | 883119 |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 31

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 4,417,857 issued and 4,375,757 outstanding as of December 31, 2022 and March 31, 2022. | 353529 | 353529 |
| General Partner | (353529) | (353529) |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 32

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 4,754,198 issued and 4,706,298 outstanding as of December 31, 2022 and March 31, 2022. | 380821 | 380821 |
| General Partner | (380821) | (380821) |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 33

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,636,533 issued and 2,605,833 outstanding as of December 31, 2022 and March 31, 2022. | 196294 | 196294 |
| General Partner | (196294) | (196294) |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 34

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents | 40995 | 81705 |
| &nbsp;&nbsp;Other assets |  |  |
|  | $40995 | $81705 |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) | 2502137 | 2488268 |
| &nbsp;&nbsp;Capital contributions payable |  |  |
|  | 2502137 | 2488268 |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,529,319 issued and 3,474,319 outstanding as of December 31, 2022 and March 31, 2022. | (2136141) | (2082108) |
| General Partner | (325001) | (324455) |
|  | (2461142) | (2406563) |
|  | $40995 | $81705 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 35

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,300,463 issued and 3,277,913 outstanding as of December 31, 2022 and March 31, 2022. | 223088 | 223088 |
| General Partner | (223088) | (223088) |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 36

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,106,838 issued and 2,083,704 outstanding as of December 31, 2022 and March 31, 2022. | 148221 | 148221 |
| General Partner | (148221) | (148221) |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 37

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,512,500 issued and 2,489,100 outstanding as of December 31, 2022 and March 31, 2022. | 205359 | 205359 |
| General Partner | (205359) | (205359) |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 38

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,543,100 issued and 2,536,200 outstanding as of December 31, 2022 and March 31, 2022. | 188889 | 188889 |
| General Partner | (188889) | (188889) |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 39

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,292,151 issued and 2,288,351 outstanding as of December 31, 2022 and March 31, 2022. | 196043 | 196043 |
| General Partner | (196043) | (196043) |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 40

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,630,256 issued and 2,611,356 outstanding as of December 31, 2022 and March 31, 2022. | 216900 | 216900 |
| General Partner | (216900) | (216900) |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 41

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,891,626 issued and 2,865,176 outstanding as of December 31, 2022 and March 31, 2022. | (987713) | (987713) |
| General Partner | 987713 | 987713 |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 42

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,744,262 issued and 2,706,362 outstanding as of December 31, 2022 and March 31, 2022. | 216680 | 216680 |
| General Partner | (216680) | (216680) |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 43

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  |  |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $— |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  |  |
| &nbsp;&nbsp;Capital contributions payable |  |  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,637,987 issued and 3,617,987 outstanding as of December 31, 2022 and March 31, 2022. | 306854 | 306854 |
| General Partner | (306854) | (306854) |
|  | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 44

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  | 1230504 |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $1230504 |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  | 28269 |
| &nbsp;&nbsp;Capital contributions payable |  |  |
|  |  | 28269 |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,701,973 issued and 2,682,873 outstanding as of December 31, 2022 and March 31, 2022. | 207874 | 1427661 |
| General Partner | (207874) | (225426) |
|  |  | 1202235 |
|  | $— | $1230504 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 45

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $— | $— |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents |  | 287530 |
| &nbsp;&nbsp;Other assets |  |  |
|  | $— | $287530 |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $— | $— |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) |  | 1138508 |
| &nbsp;&nbsp;Capital contributions payable |  |  |
|  |  | 1138508 |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 4,014,367 issued and 3,989,967 outstanding as of December 31, 2022 and March 31, 2022. | 348522 | (488806) |
| General Partner | (348522) | (362172) |
|  |  | (850978) |
|  | $— | $287530 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 46

---

| | | |
|:---|:---|:---|
|  | December 31, <br>2022 | March 31, <br>2022 |
| INVESTMENTS IN OPERATING PARTNERSHIPS | $—  | $—  |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;Cash and cash equivalents | &nbsp;&nbsp;&nbsp;&nbsp;795679  | &nbsp;&nbsp;&nbsp;&nbsp;662391  |
| &nbsp;&nbsp;Other assets | —  | &nbsp;&nbsp;&nbsp;&nbsp;3788  |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;795679  | $&nbsp;&nbsp;&nbsp;&nbsp;666179  |
| LIABILITIES |  |  |
| &nbsp;&nbsp;Accounts payable and accrued expenses | $&nbsp;&nbsp;&nbsp;&nbsp;359621  | $—  |
| &nbsp;&nbsp;Accounts payable affiliates (Note C) | &nbsp;&nbsp;&nbsp;&nbsp;1403159  | &nbsp;&nbsp;&nbsp;&nbsp;2018049  |
| &nbsp;&nbsp;Capital contributions payable | —  | —  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;1762780  | &nbsp;&nbsp;&nbsp;&nbsp;2018049  |
| PARTNERS' CAPITAL (DEFICIT) |  |  |
| Assignees |  |  |
| &nbsp;&nbsp;Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,980,998 issued and 2,965,635 outstanding as of December 31, 2022 and March 31, 2022. | (694689) | (1075610) |
| General Partner | (272412) | (276260) |
|  | (967101) | (1351870) |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;795679  | $&nbsp;&nbsp;&nbsp;&nbsp;666179  |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $&nbsp;&nbsp;&nbsp;&nbsp;3579  | $&nbsp;&nbsp;&nbsp;&nbsp;1488  |
| &nbsp;&nbsp;Other income | &nbsp;&nbsp;&nbsp;&nbsp;20412  | &nbsp;&nbsp;&nbsp;&nbsp;29678  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;23991  | &nbsp;&nbsp;&nbsp;&nbsp;31166  |
| Gain on disposition of Operating Partnerships | &nbsp;&nbsp;&nbsp;&nbsp;360610  | &nbsp;&nbsp;&nbsp;&nbsp;239636  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;16538  | &nbsp;&nbsp;&nbsp;&nbsp;32435  |
| &nbsp;&nbsp;Fund management fee, net (Note C) | &nbsp;&nbsp;&nbsp;&nbsp;13018  | &nbsp;&nbsp;&nbsp;&nbsp;87006  |
| &nbsp;&nbsp;General and administrative expenses | &nbsp;&nbsp;&nbsp;&nbsp;80784  | &nbsp;&nbsp;&nbsp;&nbsp;324959  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;110340  | &nbsp;&nbsp;&nbsp;&nbsp;444400  |
| NET INCOME (LOSS) | $&nbsp;&nbsp;&nbsp;&nbsp;274261  | $(173598) |
| Net income (loss) allocated to assignees | $&nbsp;&nbsp;&nbsp;&nbsp;271518  | $(171862) |
| Net income (loss) allocated to general partner | $&nbsp;&nbsp;&nbsp;&nbsp;2743  | $(1736) |
| Net income (loss) per BAC | $.00 | $(.00) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 20

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $—  | $—  |
| &nbsp;&nbsp;Other income | —  | —  |
| Gain on disposition of Operating Partnerships | —  | —  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees | —  | —  |
| &nbsp;&nbsp;Fund management fee, net (Note C) | —  | —  |
| &nbsp;&nbsp;General and administrative expenses | —  | —  |
| NET INCOME (LOSS) | $—  | $—  |
| Net income (loss) allocated to assignees | $—  | $—  |
| Net income (loss) allocated to general partner | $—  | $—  |
| Net income (loss) per BAC | $—  | $—  |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 21

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 22

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 23

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 24

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 25

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 26

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  | 74978 |
|  |  | 74978 |
| NET INCOME (LOSS) | $— | $(74978) |
| Net income (loss) allocated to assignees | $— | $(74228) |
| Net income (loss) allocated to general partner | $— | $(750) |
| Net income (loss) per BAC | $— | $(.02) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 27

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 28

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 29

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $256 | $36 |
| &nbsp;&nbsp;Other income |  |  |
|  | 256 | 36 |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees | 4134 | 4635 |
| &nbsp;&nbsp;Fund management fee, net (Note C) | 1128 | 1128 |
| &nbsp;&nbsp;General and administrative expenses | 8533 | 15791 |
|  | 13795 | 21554 |
| NET INCOME (LOSS) | $(13539) | $(21518) |
| Net income (loss) allocated to assignees | $(13404) | $(21303) |
| Net income (loss) allocated to general partner | $(135) | $(215) |
| Net income (loss) per BAC | $(.00) | $(.01) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 30

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 31

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 32

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  | 73421 |
|  |  | 73421 |
| NET INCOME (LOSS) | $— | $(73421) |
| Net income (loss) allocated to assignees | $— | $(72686) |
| Net income (loss) allocated to general partner | $— | $(735) |
| Net income (loss) per BAC | $— | $(.02) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 33

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  | 87548 |
|  |  | 87548 |
| NET INCOME (LOSS) | $— | $(87548) |
| Net income (loss) allocated to assignees | $— | $(86673) |
| Net income (loss) allocated to general partner | $— | $(875) |
| Net income (loss) per BAC | $— | $(.03) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 34

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $187 | $28 |
| &nbsp;&nbsp;Other income |  |  |
|  | 187 | 28 |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees | 4134 | 4635 |
| &nbsp;&nbsp;Fund management fee, net (Note C) | 4623 | 4623 |
| &nbsp;&nbsp;General and administrative expenses | 6869 | 12716 |
|  | 15626 | 21974 |
| NET INCOME (LOSS) | $(15439) | $(21946) |
| Net income (loss) allocated to assignees | $(15284) | $(21727) |
| Net income (loss) allocated to general partner | $(155) | $(219) |
| Net income (loss) per BAC | $(.00) | $(.01) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 35

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 36

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 37

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 38

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 39

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 40

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 41

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $100 |
| &nbsp;&nbsp;Other income |  |  |
|  |  | 100 |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  | 4633 |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  | 18179 |
| &nbsp;&nbsp;General and administrative expenses |  | 11016 |
|  |  | 33828 |
| NET INCOME (LOSS) | $— | $(33728) |
| Net income (loss) allocated to assignees | $— | $(33391) |
| Net income (loss) allocated to general partner | $— | $(337) |
| Net income (loss) per BAC | $— | $(.01) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 42

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $718 |
| &nbsp;&nbsp;Other income |  |  |
|  |  | 718 |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  | 4633 |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  | 4050 |
| &nbsp;&nbsp;General and administrative expenses |  | 11885 |
|  |  | 20568 |
| NET INCOME (LOSS) | $— | $(19850) |
| Net income (loss) allocated to assignees | $— | $(19651) |
| Net income (loss) allocated to general partner | $— | $(199) |
| Net income (loss) per BAC | $— | $(.01) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 43

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 44

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $374 |
| &nbsp;&nbsp;Other income |  |  |
|  |  | 374 |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  | 4634 |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  | 7935 |
| &nbsp;&nbsp;General and administrative expenses |  | 10371 |
|  |  | 22940 |
| NET INCOME (LOSS) | $— | $(22566) |
| Net income (loss) allocated to assignees | $— | $(22340) |
| Net income (loss) allocated to general partner | $— | $(226) |
| Net income (loss) per BAC | $— | $(.01) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 45

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $&nbsp;&nbsp;&nbsp;&nbsp;663  | $101 |
| &nbsp;&nbsp;Other income | —  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;663  | 101 |
| Gain on disposition of Operating Partnerships | &nbsp;&nbsp;&nbsp;&nbsp;990  | 239636 |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;4135  | 4632 |
| &nbsp;&nbsp;Fund management fee, net (Note C) | &nbsp;&nbsp;&nbsp;&nbsp;876  | 15016 |
| &nbsp;&nbsp;General and administrative expenses | &nbsp;&nbsp;&nbsp;&nbsp;52001  | 14519 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;57012  | 34167 |
| NET INCOME (LOSS) | $(55359) | $205570 |
| Net income (loss) allocated to assignees | $(54806) | $203514 |
| Net income (loss) allocated to general partner | $(553) | $2056 |
| Net income (loss) per BAC | $(.01) | $&nbsp;&nbsp;&nbsp;&nbsp;.05  |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 46

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $2473 | $131 |
| &nbsp;&nbsp;Other income | 20412 | 29678 |
|  | 22885 | 29809 |
| Gain on disposition of Operating Partnerships | &nbsp;&nbsp;&nbsp;&nbsp;359620  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees | 4135 | 4633 |
| &nbsp;&nbsp;Fund management fee, net (Note C) | 6391 | 36075 |
| &nbsp;&nbsp;General and administrative expenses | 13381 | 12714 |
|  | 23907 | 53422 |
| NET INCOME (LOSS) | $358598 | $(23613) |
| Net income (loss) allocated to assignees | $355012 | $(23377) |
| Net income (loss) allocated to general partner | $3586 | $(236) |
| Net income (loss) per BAC | $.12 | $(.01) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $6027 | $6686 |
| &nbsp;&nbsp;Other income | 162575 | 95187 |
|  | 168602 | 101873 |
| Gain on disposition of Operating Partnerships | 3596277 | 2032167 |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees | 61741 | 166338 |
| &nbsp;&nbsp;Fund management fee, net (Note C) | 43425 | 273219 |
| &nbsp;&nbsp;General and administrative expenses | 266060 | 480472 |
|  | 371226 | 920029 |
| NET INCOME (LOSS) | $3393653 | $1214011 |
| Net income (loss) allocated to assignees | $3359716 | $1201871 |
| Net income (loss) allocated to general partner | $33937 | $12140 |
| Net income (loss) per BAC | $.04 | $.01 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 20

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 21

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 22

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 23

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 24

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 25

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 26

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $261 |
| &nbsp;&nbsp;Other income |  |  |
|  |  | 261 |
| Gain on disposition of Operating Partnerships |  | 20845 |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  | 11719 |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  | 3665 |
| &nbsp;&nbsp;General and administrative expenses |  | 97302 |
|  |  | 112686 |
| NET INCOME (LOSS) | $— | $(91580) |
| Net income (loss) allocated to assignees | $— | $(90664) |
| Net income (loss) allocated to general partner | $— | $(916) |
| Net income (loss) per BAC | $— | $(.02) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 27

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 28

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 29

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $388 | $111 |
| &nbsp;&nbsp;Other income |  |  |
|  | 388 | 111 |
| Gain on disposition of Operating Partnerships  |  | 29999 |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees | 12170 | 18029 |
| &nbsp;&nbsp;Fund management fee, net (Note C) | 3384 | 3215 |
| &nbsp;&nbsp;General and administrative expenses | 41561 | 34806 |
|  | 57115 | 56050 |
| NET INCOME (LOSS) | $(56727) | $(25940) |
| Net income (loss) allocated to assignees | $(56160) | $(25681) |
| Net income (loss) allocated to general partner | $(567) | $(259) |
| Net income (loss) per BAC | $(.01) | $(.01) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 30

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships  |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 31

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships  |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 32

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $1321 |
| &nbsp;&nbsp;Other income |  |  |
|  |  | 1321 |
| Gain on disposition of Operating Partnerships  |  | 23823 |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  | 11719 |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  | 4091 |
| &nbsp;&nbsp;General and administrative expenses |  | 90598 |
|  |  | 106408 |
| NET INCOME (LOSS) | $— | $(81264) |
| Net income (loss) allocated to assignees | $— | $(80451) |
| Net income (loss) allocated to general partner | $— | $(813) |
| Net income (loss) per BAC | $— | $(.02) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 33

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $1524 |
| &nbsp;&nbsp;Other income |  |  |
|  |  | 1524 |
| Gain on disposition of Operating Partnerships  |  | 23823 |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  | 10544 |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  | 4334 |
| &nbsp;&nbsp;General and administrative expenses |  | 97578 |
|  |  | 112456 |
| NET INCOME (LOSS) | $— | $(87109) |
| Net income (loss) allocated to assignees | $— | $(86238) |
| Net income (loss) allocated to general partner | $— | $(871) |
| Net income (loss) per BAC | $— | $(.03) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 34

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $284 | $86 |
| &nbsp;&nbsp;Other income |  |  |
|  | 284 | 86 |
| Gain on disposition of Operating Partnerships  |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees | 10970 | 15179 |
| &nbsp;&nbsp;Fund management fee, net (Note C) | 10869 | 10869 |
| &nbsp;&nbsp;General and administrative expenses | 33024 | 25387 |
|  | 54863 | 51435 |
| NET INCOME (LOSS) | $(54579) | $(51349) |
| Net income (loss) allocated to assignees | $(54033) | $(50836) |
| Net income (loss) allocated to general partner | $(546) | $(513) |
| Net income (loss) per BAC | $(.02) | $(.01) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 35

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships  |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 36

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships  |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 37

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships  |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 38

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 39

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 40

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 41

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $283 |
| &nbsp;&nbsp;Other income |  | – |
|  |  | 283 |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  | 21552 |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  | 58367 |
| &nbsp;&nbsp;General and administrative expenses |  | 22062 |
|  |  | 101981 |
| NET INCOME (LOSS) | $— | $(101698) |
| Net income (loss) allocated to assignees | $— | $(100681) |
| Net income (loss) allocated to general partner | $— | $(1017) |
| Net income (loss) per BAC | $— | $(.04) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 42

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $1839 |
| &nbsp;&nbsp;Other income |  | 868 |
|  |  | 2707 |
| Gain on disposition of Operating Partnerships |  | 94182 |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  | 19202 |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  | 9650 |
| &nbsp;&nbsp;General and administrative expenses |  | 21508 |
|  |  | 50360 |
| NET INCOME (LOSS) | $— | $46529 |
| Net income (loss) allocated to assignees | $— | $46064 |
| Net income (loss) allocated to general partner | $— | $465 |
| Net income (loss) per BAC | $— | $.02 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 43

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $— | $— |
| &nbsp;&nbsp;Other income |  |  |
| Gain on disposition of Operating Partnerships |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees |  |  |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  |  |
| &nbsp;&nbsp;General and administrative expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to assignees | $— | $— |
| Net income (loss) allocated to general partner | $— | $— |
| Net income (loss) per BAC | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 44

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $437 | $658 |
| &nbsp;&nbsp;Other income | 81588 | 25468 |
|  | 82025 | 26126 |
| Gain on disposition of Operating Partnerships | 1746178 | 815747 |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees | 298 | 15676 |
| &nbsp;&nbsp;Fund management fee, net (Note C) |  | 27476 |
| &nbsp;&nbsp;General and administrative expenses | 72685 | 23805 |
|  | 72983 | 66957 |
| NET INCOME (LOSS) | $1755220 | $774916 |
| Net income (loss) allocated to assignees | $1737668 | $767167 |
| Net income (loss) allocated to general partner | $17552 | $7749 |
| Net income (loss) per BAC | $.65 | $.29 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 45

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $1697 | $246 |
| &nbsp;&nbsp;Other income | 58183 | 29480 |
|  | 59880 | 29726 |
| Gain on disposition of Operating Partnerships | 1411858 | 691381 |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees | 20870 | 21870 |
| &nbsp;&nbsp;Fund management fee, net (Note C) | 4846 | 42835 |
| &nbsp;&nbsp;General and administrative expenses | 81052 | 38321 |
|  | 106768 | 103026 |
| NET INCOME (LOSS) | $1364970 | $618081 |
| Net income (loss) allocated to assignees | $1351320 | $611900 |
| Net income (loss) allocated to general partner | $13650 | $6181 |
| Net income (loss) per BAC | $.34 | $.15 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS

Nine Months Ended December 31,

(Unaudited)

Series 46

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Income |  |  |
| &nbsp;&nbsp;Interest income | $3221 | $357 |
| &nbsp;&nbsp;Other income | 22804 | 39371 |
|  | 26025 | 39728 |
| Gain on disposition of Operating Partnerships | 438241 | 332367 |
| Expenses |  |  |
| &nbsp;&nbsp;Professional fees | 17433 | 20848 |
| &nbsp;&nbsp;Fund management fee, net (Note C) | 24326 | 108717 |
| &nbsp;&nbsp;General and administrative expenses | 37738 | 29105 |
|  | 79497 | 158670 |
| NET INCOME (LOSS) | $384769 | $213425 |
| Net income (loss) allocated to assignees | $380921 | $211291 |
| Net income (loss) allocated to general partner | $3848 | $2134 |
| Net income (loss) per BAC | $.13 | $.07 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $(7296726) | $891243 | $(6405483) |
| Distribution | (2957455) |  | (2957455) |
| Net income (loss) | 3211289 | 32437 | 3243726 |
| Partners' capital (deficit), June 30, 2022 | (7042892) | 923680 | (6119212) |
| Net income (loss) | (123091) | (1243) | (124334) |
| Partners' capital (deficit), September 30, 2022 | $(7165983) | $922437 | $(6243546) |
| Distribution | (513992) |  | (513992) |
| Net income (loss) | 271518 | 2743 | 274261 |
| Partners' capital (deficit), December 31, 2022 | $(7408457) | $925180 | $(6483277) |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $(1450880) | $(383588) | $(1834468) |
| Net income (loss) | 317421 | 3206 | 320627 |
| Partners' capital (deficit), June 30, 2021 | (1133459) | (380382) | (1513841) |
| Net income (loss) | 1056312 | 10670 | 1066982 |
| Partners' capital (deficit), September 30, 2021 | (77147) | (369712) | (446859) |
| Distribution | (5940309) |  | (5940309) |
| Net income (loss) | (171862) | (1736) | (173598) |
| Partners' capital (deficit), December 31, 2021 | $(6189318) | $(371448) | $(6560766) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 20

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $(754767) | $754767 | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | (754767) | 754767 |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $(754767) | $754767 | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $(754767) | $754767 | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $(754767) | $754767 | $— |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2021 | (754767) | 754767 |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2021 | $(754767) | $754767 | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2021 | $(754767) | $754767 | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 21

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $(898231) | $898231 | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | (898231) | 898231 |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $(898231) | $898231 | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $(898231) | $898231 | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $(898231) | $898231 | $— |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2021 | (898231) | 898231 |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2021 | $(898231) | $898231 | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2021 | $(898231) | $898231 | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 22

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $(2448362) | $2448362 | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | (2448362) | 2448362 |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $(2448362) | $2448362 | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $(2448362) | $2448362 | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $(2448362) | $2448362 | $— |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2021 | (2448362) | 2448362 |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2021 | $(2448362) | $2448362 | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2021 | $(2448362) | $2448362 | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 23

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $(224264) | $224264 | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | (224264) | 224264 |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $(224264) | $224264 | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $(224264) | $224264 | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $(224264) | $224264 | $— |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2021 | (224264) | 224264 |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2021 | $(224264) | $224264 | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2021 | $(224264) | $224264 | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 24

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $173404 | $(173404) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | 173404 | (173404) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $173404 | $(173404) | $— |
| Distribution |  |  |  |
| Net income (loss) | —  | —  | —  |
| Partners' capital (deficit), December 31, 2022 | $173404 | $(173404) | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $173404 | $(173404) | $— |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2021 | 173404 | (173404) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2021 | $173404 | $(173404) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2021 | $173404 | $(173404) | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 25

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $219815 | $(219815) | $—  |
| Distribution |  |  | —  |
| Net income (loss) |  |  | —  |
| Partners' capital (deficit), June 30, 2022 | 219815 | (219815) | —  |
| Net income (loss) |  |  | —  |
| Partners' capital (deficit), September 30, 2022 | $219815 | $(219815) | $—  |
| Distribution |  |  |  |
| Net income (loss) | —  | —  | —  |
| Partners' capital (deficit), December 31, 2022 | $219815 | $(219815) | $—  |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $219815 | $(219815) | $— |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2021 | 219815 | (219815) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2021 | $219815 | $(219815) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2021 | $219815 | $(219815) | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 26

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $313969 | $(313969) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | 313969 | (313969) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $313969 | $(313969) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $313969 | $(313969) | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $841956 | $(313053) | $528903 |
| Net income (loss) | (8349) | (84) | (8433) |
| Partners' capital (deficit), June 30, 2021 | 833607 | (313137) | 520470 |
| Net income (loss) | (8087) | (82) | (8169) |
| Partners' capital (deficit), September 30, 2021 | $825520 | $(313219) | $512301 |
| Distribution | (437323) |  | (437323) |
| Net income (loss) | (74228) | (750) | (74978) |
| Partners' capital (deficit), December 31, 2021 | $313969 | $(313969) | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 27

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $133264 | $(133264) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | 133264 | (133264) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $133264 | $(133264) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $133264 | $(133264) | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $133264 | $(133264) | $— |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2021 | 133264 | (133264) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2021 | $133264 | $(133264) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2021 | $133264 | $(133264) | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 28

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $275140 | $(275140) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | 275140 | (275140) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $275140 | $(275140) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $275140 | $(275140) | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $275140 | $(275140) | $— |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2021 | 275140 | (275140) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2021 | $275140 | $(275140) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2021 | $275140 | $(275140) | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 29

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $(2629677) | $(368630) | $(2998307) |
| Distribution |  |  |  |
| Net income (loss) | (15879) | (160) | (16039) |
| Partners' capital (deficit), June 30, 2022 | (2645556) | (368790) | (3014346) |
| Net income (loss) | (26877) | (272) | (27149) |
| Partners' capital (deficit), September 30, 2022 | $(2672433) | $(369062) | $(3041495) |
| Distribution |  |  |  |
| Net income (loss) | (13404) | (135) | (13539) |
| Partners' capital (deficit), December 31, 2022 | $(2685837) | $(369197) | $(3055034) |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $(2593761) | $(368267) | $(2962028) |
| Net income (loss) | (8526) | (86) | (8612) |
| Partners' capital (deficit), June 30, 2021 | (2602287) | (368353) | (2970640) |
| Net income (loss) | 4148 | 42 | 4190 |
| Partners' capital (deficit), September 30, 2021 | $(2598139) | $(368311) | $(2966450) |
| Distribution |  |  |  |
| Net income (loss) | (21303) | (215) | (21518) |
| Partners' capital (deficit), December 31, 2021 | $(2619442) | $(368526) | $(2987968) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 30

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $(883119) | $883119 | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | (883119) | 883119 |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $(883119) | $883119 | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $(883119) | $883119 | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $(883119) | $883119 | $— |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2021 | (883119) | 883119 |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2021 | $(883119) | $883119 | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2021 | $(883119) | $883119 | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 31

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $353529 | $(353529) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | 353529 | (353529) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $353529 | $(353529) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $353529 | $(353529) | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $353529 | $(353529) | $— |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2021 | 353529 | (353529) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2021 | $353529 | $(353529) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2021 | $353529 | $(353529) | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 32

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $380821 | $(380821) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | 380821 | (380821) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $380821 | $(380821) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $380821 | $(380821) | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $3015649 | $(380008) | $2635641 |
| Net income (loss) | (8109) | (82) | (8191) |
| Partners' capital (deficit), June 30, 2021 | 3007540 | (380090) | 2627450 |
| Net income (loss) | 344 | 4 | 348 |
| Partners' capital (deficit), September 30, 2021 | $3007884 | $(380086) | $2627798 |
| Distribution | (2554377) |  | (2554377) |
| Net income (loss) | (72686) | (735) | (73421) |
| Partners' capital (deficit), December 31, 2021 | $380821 | $(380821) | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 33

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $196294 | $(196294) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | 196294 | (196294) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $196294 | $(196294) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $196294 | $(196294) | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $&nbsp;&nbsp;&nbsp;&nbsp;3231141  | $(195423) | $&nbsp;&nbsp;&nbsp;&nbsp;3035718  |
| Net income (loss) | (6191) | (63) | (6254) |
| Partners' capital (deficit), June 30, 2021 | &nbsp;&nbsp;&nbsp;&nbsp;3224950  | (195486) | &nbsp;&nbsp;&nbsp;&nbsp;3029464  |
| Net income (loss) | &nbsp;&nbsp;&nbsp;&nbsp;6626  | 67 | &nbsp;&nbsp;&nbsp;&nbsp;6693  |
| Partners' capital (deficit), September 30, 2021 | $&nbsp;&nbsp;&nbsp;&nbsp;3231576  | $(195419) | $&nbsp;&nbsp;&nbsp;&nbsp;3036157  |
| Distribution | (2948609) |  | (2948609) |
| Net income (loss) | (86673) | (875) | (87548) |
| Partners' capital (deficit), December 31, 2021 | $&nbsp;&nbsp;&nbsp;&nbsp;196294  | $(196294) | $—  |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 34

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $(2082108) | $(324455) | $(2406563) |
| Distribution |  |  |  |
| Net income (loss) | (16167) | (163) | (16330) |
| Partners' capital (deficit), June 30, 2022 | (2098275) | (324618) | (2422893) |
| Net income (loss) | (22582) | (228) | (22810) |
| Partners' capital (deficit), September 30, 2022 | $(2120857) | $(324846) | $(2445703) |
| Distribution |  |  |  |
| Net income (loss) | (15284) | (155) | (15439) |
| Partners' capital (deficit), December 31, 2022 | $(2136141) | $(325001) | $(2461142) |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $(2016839) | $(323796) | $(2340635) |
| Net income (loss) | (9691) | (98) | (9789) |
| Partners' capital (deficit), June 30, 2021 | (2026530) | (323894) | (2350424) |
| Net income (loss) | (19418) | (196) | (19614) |
| Partners' capital (deficit), September 30, 2021 | $(2045948) | $(324090) | $(2370038) |
| Distribution |  |  |  |
| Net income (loss) | (21727) | (219) | (21946) |
| Partners' capital (deficit), December 31, 2021 | $(2067675) | $(324309) | $(2391984) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 35

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $223088 | $(223088) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | 223088 | (223088) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $223088 | $(223088) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $223088 | $(223088) | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $223088 | $(223088) | $— |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2021 | 223088 | (223088) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2021 | $223088 | $(223088) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2021 | $223088 | $(223088) | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 36

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $148221 | $(148221) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | 148221 | (148221) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $148221 | $(148221) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $148221 | $(148221) | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $148221 | $(148221) | $— |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2021 | 148221 | (148221) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2021 | $148221 | $(148221) | $— |
| Distributions |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2021 | $148221 | $(148221) | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 37

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $205359 | $(205359) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | 205359 | (205359) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $205359 | $(205359) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $205359 | $(205359) | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $205359 | $(205359) | $— |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2021 | 205359 | (205359) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2021 | $205359 | $(205359) | $— |
| Distributions |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2021 | $205359 | $(205359) | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 38

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $188889 | $(188889) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | 188889 | (188889) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $188889 | $(188889) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $188889 | $(188889) | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $&nbsp;&nbsp;&nbsp;&nbsp;188889  | $(188889) | $—  |
| Net income (loss) | —  | —  | —  |
| Partners' capital (deficit), June 30, 2021 | &nbsp;&nbsp;&nbsp;&nbsp;188889  | (188889) | —  |
| Net income (loss) | —  | —  | —  |
| Partners' capital (deficit), September 30, 2021 | $188889 | $(188889) | $—  |
| Distribution | – | —  | —  |
| Net income (loss) | – | —  | —  |
| Partners' capital (deficit), December 31, 2021 | $188889 | $(188889) | $—  |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 39

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $196043 | $(196043) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | 196043 | (196043) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $196043 | $(196043) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $196043 | $(196043) | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $196043 | $(196043) | $— |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2021 | 196043 | (196043) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2021 | $196043 | $(196043) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2021 | $196043 | $(196043) | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 40

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $216900 | $(216900) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | 216900 | (216900) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $216900 | $(216900) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $216900 | $(216900) | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $216900 | $(216900) | $— |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2021 | 216900 | (216900) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2021 | $216900 | $(216900) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2021 | $216900 | $(216900) | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 41

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $(987713) | $987713 | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | (987713) | 987713 |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $(987713) | $987713 | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $(987713) | $987713 | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $(2009681) | $(271985) | $(2281666) |
| Net income (loss) | (24769) | (250) | (25019) |
| Partners' capital (deficit), June 30, 2021 | (2034450) | (272235) | (2306685) |
| Net income (loss) | (42521) | (430) | (42951) |
| Partners' capital (deficit), September 30, 2021 | $(2076971) | $(272665) | $(2349636) |
| Distribution |  |  |  |
| Net income (loss) | (33391) | (337) | (33728) |
| Partners' capital (deficit), December 31, 2021 | $(2110362) | $(273002) | $(2383364) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 42

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $216680 | $(216680) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | 216680 | (216680) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $216680 | $(216680) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit),December 31, 2022 | $216680 | $(216680) | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $2500317 | $(218115) | $2282202 |
| Net income (loss) | (4612) | (47) | (4659) |
| Partners' capital (deficit), June 30, 2021 | 2495705 | (218162) | 2277543 |
| Net income (loss) | 70327 | 711 | 71038 |
| Partners' capital (deficit), September 30, 2021 | $2566032 | $(217451) | $2348581 |
| Distribution |  |  |  |
| Net income (loss) | (19651) | (199) | (19850) |
| Partners' capital (deficit), December 31, 2021 | $2546381 | $(217650) | $2328731 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 43

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $306854 | $(306854) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2022 | 306854 | (306854) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $306854 | $(306854) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $306854 | $(306854) | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $306854 | $(306854) | $— |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), June 30, 2021 | 306854 | (306854) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2021 | $306854 | $(306854) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2021 | $306854 | $(306854) | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 44

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $1427661 | $(225426) | $1202235 |
| Distribution | (2957455) |  | (2957455) |
| Net income (loss) | 1737668 | 17552 | 1755220 |
| Partners' capital (deficit), June 30, 2022 | 207874 | (207874) |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), September 30, 2022 | $207874 | $(207874) | $— |
| Distribution |  |  |  |
| Net income (loss) |  |  |  |
| Partners' capital (deficit), December 31, 2022 | $207874 | $(207874) | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $676442 | $(233014) | $443428 |
| Net income (loss) | (17404) | (176) | (17580) |
| Partners' capital (deficit), June 30, 2021 | 659038 | (233190) | 425848 |
| Net income (loss) | 806911 | 8151 | 815062 |
| Partners' capital (deficit), September 30, 2021 | $1465949 | $(225039) | $1240910 |
| Distribution |  |  |  |
| Net income (loss) | (22340) | (226) | (22566) |
| Partners' capital (deficit), December 31, 2021 | $1443609 | $(225265) | $1218344 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 45

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $(488806) | $(362172) | $(850978) |
| Distribution |  |  |  |
| Net income (loss) | 1436440 | 14509 | 1450949 |
| Partners' capital (deficit), June 30, 2022 | 947634 | (347663) | 599971 |
| Net income (loss) | (30314) | (306) | (30620) |
| Partners' capital (deficit), September 30, 2022 | $917320 | $(347969) | $569351 |
| Distribution | (513992) |  | (513992) |
| Net income (loss) | (54806) | (553) | (55359) |
| Partners' capital (deficit), December 31, 2022 | $348522 | $(348522) | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $(1079247) | $(368136) | $(1447383) |
| Net income (loss) | 170032 | 1718 | 171750 |
| Partners' capital (deficit), June 30, 2021 | (909215) | (366418) | (1275633) |
| Net income (loss) | 238354 | 2407 | 240761 |
| Partners' capital (deficit), September 30, 2021 | $(670861) | $(364011) | $(1034872) |
| Distribution |  |  |  |
| Net income (loss) | 203514 | 2056 | 205570 |
| Partners' capital (deficit), December 31, 2021 | $(467347) | $(361955) | $(829302) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2022 and 2021

(Unaudited)

Series 46

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2022 | $(1075610) | $(276260) | $(1351870) |
| Distribution |  |  |  |
| Net income (loss) | 69227 | 699 | 69926 |
| Partners' capital (deficit), June 30, 2022 | (1006383) | (275561) | (1281944) |
| Net income (loss) | (43318) | (437) | (43755) |
| Partners' capital (deficit), September 30, 2022 | $(1049701) | $(275998) | $(1325699) |
| Distribution |  |  |  |
| Net income (loss) | 355012 | 3586 | 358598 |
| Partners' capital (deficit), December 31, 2022 | $(694689) | $(272412) | $(967101) |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>Assignees | General<br>Partner | <br>Total |
| Partners' capital (deficit) April 1, 2021 | $(1448620) | $(280028) | $(1728648) |
| Net income (loss) | 235040 | 2374 | 237414 |
| Partners' capital (deficit), June 30, 2021 | (1213580) | (277654) | (1491234) |
| Net income (loss) | (372) | (4) | (376) |
| Partners' capital (deficit), September 30, 2021 | $(1213952) | $(277658) | $(1491610) |
| Distribution |  |  |  |
| Net income (loss) | (23377) | (236) | (23613) |
| Partners' capital (deficit), December 31, 2021 | $(1237329) | $(277894) | $(1515223) |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $3393653 | $1214011 |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships | (3596277) | (2032167) |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets | 3788 | 4040 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses | 359621 | (27) |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates | (1764414) | (1181978) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities | (1603629) | (1996121) |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships | 3596277 | 2032167 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | 3596277 | 2032167 |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions | (3471447) | (5940309) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities | (3471447) | (5940309) |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (1478799) | (5904263) |
| Cash and cash equivalents, beginning | 2370898 | 10819585 |
| Cash and cash equivalents, ending | $892099 | $4915322 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 20

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $— |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  |  |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  |
| Cash and cash equivalents, beginning |  |  |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 21

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $— |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  |  |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  |
| Cash and cash equivalents, beginning |  |  |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 22

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $— |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  |  |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  |
| Cash and cash equivalents, beginning |  |  |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 23

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $— |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  |  |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  |
| Cash and cash equivalents, beginning |  |  |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 24

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $— |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  |  |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  |
| Cash and cash equivalents, beginning |  |  |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 25

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $— |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  |  |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  |
| Cash and cash equivalents, beginning |  |  |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 26

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $(91580) |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  | (20845) |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  | 75 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  | (2199) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  | (114549) |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  | 20845 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities |  | 20845 |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  | (437323) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  | (437323) |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  | (531027) |
| Cash and cash equivalents, beginning |  | 531027 |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 27

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $— |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  |  |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  |
| Cash and cash equivalents, beginning |  |  |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 28

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $— |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  |  |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  |
| Cash and cash equivalents, beginning |  |  |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 29

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $(56727) | $(25940) |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  | (29999) |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  | (352) |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates | 3384 | (19965) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities | (53343) | (76256) |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  | 29999 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities |  | 29999 |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (53343) | (46257) |
| Cash and cash equivalents, beginning | 108768 | 164236 |
| Cash and cash equivalents, ending | $55425 | $117979 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 30

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $— |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  |  |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  |
| Cash and cash equivalents, beginning |  |  |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 31

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $— |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  |  |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  |
| Cash and cash equivalents, beginning |  |  |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 32

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $(81264) |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  | (23823) |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  | (4847) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  | (109860) |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  | 23823 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities |  | 23823 |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  | (2554377) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  | (2554377) |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  | (2640414) |
| Cash and cash equivalents, beginning |  | 2640414 |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 33

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $(87109) |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  | (23823) |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  | (4992) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  | (115850) |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  | 23823 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities |  | 23823 |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  | (2948609) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  | (2948609) |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  | (3040636) |
| Cash and cash equivalents, beginning |  | 3040636 |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 34

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $(54579) | $(51349) |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates | 13869 | 13869 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities | (40710) | (37406) |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (40710) | (37406) |
| Cash and cash equivalents, beginning | 81705 | 129067 |
| Cash and cash equivalents, ending | $40995 | $91661 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 35

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $— |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  |  |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  |
| Cash and cash equivalents, beginning |  |  |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 36

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $— |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  |  |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities |  | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  |
| Cash and cash equivalents, beginning |  |  |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 37

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $— |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  |  |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  |
| Cash and cash equivalents, beginning |  |  |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 38

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $— |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  |  |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  |
| Cash and cash equivalents, beginning |  |  |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 39

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $— |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  |  |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  |
| Cash and cash equivalents, beginning |  |  |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 40

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $— |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  |  |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  |
| Cash and cash equivalents, beginning |  |  |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 41

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $(101698) |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  | 437 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  | 26682 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  | (74580) |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  | (74580) |
| Cash and cash equivalents, beginning |  | 408743 |
| Cash and cash equivalents, ending | $— | $334163 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 42

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $46529 |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  | (94182) |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  | (419) |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  | 12150 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  | (35922) |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  | 94182 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities |  | 94182 |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  | 58260 |
| Cash and cash equivalents, beginning |  | 2318856 |
| Cash and cash equivalents, ending | $— | $2377116 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 43

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $— | $— |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities |  |  |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | **—** | **—** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  |
| Cash and cash equivalents, beginning |  |  |
| Cash and cash equivalents, ending | $— | $— |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 44

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $1755220 | $774916 |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships | (1746178) | (815747) |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  | 205 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  | (26) |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates | (28269) | (379155) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities | (19227) | (419807) |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships | 1746178 | 815747 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | 1746178 | 815747 |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions | (2957455) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities | (2957455) |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (1230504) | 395940 |
| Cash and cash equivalents, beginning | 1230504 | 842738 |
| Cash and cash equivalents, ending | $— | $1238678 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 45

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $1364970 | $618081 |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships | (1411858) | (691381) |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets |  | 2627 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates | (1138508) | (618340) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities | (1185396) | (689013) |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships | 1411858 | 691381 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | 1411858 | 691381 |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions | (513992) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities | (513992) |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (287530) | 2368 |
| Cash and cash equivalents, beginning | 287530 | 294663 |
| Cash and cash equivalents, ending | $— | $297031 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 46

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net income (loss) | $384769 | $213425 |
| &nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposition of Operating Partnerships | (438241) | (332367) |
| &nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Increase) Decrease in other assets | 3788 | 1245 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable and accrued expenses | 359621 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Decrease) Increase in accounts payable affiliates | (614890) | (205181) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities | (304953) | (322878) |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Proceeds from the disposition of Operating Partnerships | 438241 | 332367 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | 438241 | 332367 |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities |  |  |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 133288 | 9489 |
| Cash and cash equivalents, beginning | 662391 | 449205 |
| Cash and cash equivalents, ending | $795679 | $458694 |

---

The accompanying notes are an integral part of this condensed statement

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS

December 31, 2022

(Unaudited)

NOTE A – ORGANIZATION

BF Garden Tax Credit Fund IV L.P. (formerly known as Boston Capital Tax Credit Fund IV L.P.) (the "Fund") was organized under the laws of the State of Delaware as of October 5, 1993, for the purpose of acquiring, holding, and disposing of limited partnership interests in operating partnerships which will acquire, develop, rehabilitate, operate and own newly constructed, existing or rehabilitated low-income apartment complexes ("Operating Partnerships"). Effective as of December 15, 2020, Corporate Investment Holdings, Inc., a Massachusetts corporation owned by BF Garden Companion Limited Partnership, a Massachusetts limited partnership formerly known as Boston Capital Companion Limited Partnership ("Companion"), replaced BCA Associates Limited Partnership as the general partner of the Fund's general partner, BF Garden Associates IV L.P., a Delaware limited partnership formerly known as Boston Capital Associates IV L.P. Additionally, Companion replaced Capital Investment Holdings IV Limited Partnership as the sole limited partner of the Fund's general partner. Also effective as of December 15, 2020, BFBC Holdings GP, LLC, a Delaware limited liability company and an affiliate of Boston Financial Investment Management, LP, a Delaware limited partnership ("BFIM"), replaced Boston Capital Partners II Corporation as the general partner of Companion; and BFIM replaced Boston Capital Companion Holdings Limited Partnership as the sole limited partner of Companion. The assignor limited partner of the Fund continues to be BCTC IV Assignor Corp., a Delaware corporation which is now wholly owned by Companion.

Pursuant to the Securities Act of 1933, the Fund filed a Form S-11 Registration Statement with the Securities and Exchange Commission, effective December 16, 1993, which covered the offering (the "Public Offering") of the Fund's beneficial assignee certificates ("BACs") representing assignments of units of the beneficial interest of the limited partnership interest of the assignor limited partner. The Fund registered 30,000,000 BACs at $10 per BAC for sale to the public in one or more series. On April 18, 1996, an amendment to Form S-11 which registered an additional 10,000,000 BACs for sale to the public in one or more series became effective. On April 2, 1998, an amendment to Form S-11, which registered an additional 25,000,000 BACs for sale to the public in one or more series, became effective. On August 31, 1999, an amendment to Form S-11, which registered an additional 8,000,000 BACs for sale to the public in one or more series, became effective. On July 26, 2000, an amendment to Form S-11, which registered an additional 7,500,000 BACs for sale to the public in one or more series, became effective. On July 24, 2001, an amendment to Form S-11, which registered an additional 7,000,000 BACs for sale to the public in one or more series, became effective. On July 24, 2002, an amendment to Form S-11, which registered an additional 7,000,000 BACs for sale to the public, became effective. On July 1, 2003, an amendment to Form S-11, which registered an additional 7,000,000 BACs for sale to the public, became effective.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE A – ORGANIZATION (continued)

Below is a summary of the BACs sold and total equity raised, by series, as of the date of this filing:

---

| | | | |
|:---|:---|:---|:---|
| Series | Closing Date | BACs Sold | Equity Raised |
| Series 20 | June 24, 1994 | 3866700 | $38667000 |
| Series 21 | December 31, 1994 | 1892700 | $18927000 |
| Series 22 | December 28, 1994 | 2564400 | $25644000 |
| Series 23 | June 23, 1995 | 3336727 | $33366000 |
| Series 24 | September 22, 1995 | 2169878 | $21697000 |
| Series 25 | December 29, 1995 | 3026109 | $30248000 |
| Series 26 | June 25, 1996 | 3995900 | $39959000 |
| Series 27 | September 17, 1996 | 2460700 | $24607000 |
| Series 28 | January 29, 1997 | 4000738 | $39999000 |
| Series 29 | June 10, 1997 | 3991800 | $39918000 |
| Series 30 | September 10, 1997 | 2651000 | $26490750 |
| Series 31 | January 18, 1998 | 4417857 | $44057750 |
| Series 32 | June 23, 1998 | 4754198 | $47431000 |
| Series 33 | September 21, 1998 | 2636533 | $26362000 |
| Series 34 | February 11, 1999 | 3529319 | $35273000 |
| Series 35 | June 28, 1999 | 3300463 | $33004630 |
| Series 36 | September 28, 1999 | 2106838 | $21068375 |
| Series 37 | January 28, 2000 | 2512500 | $25125000 |
| Series 38 | July 31, 2000 | 2543100 | $25431000 |
| Series 39 | January 31, 2001 | 2292151 | $22921000 |
| Series 40 | July 31, 2001 | 2630256 | $26269256 |
| Series 41 | January 31, 2002 | 2891626 | $28916260 |
| Series 42 | July 31, 2002 | 2744262 | $27442620 |
| Series 43 | December 31, 2002 | 3637987 | $36379870 |
| Series 44 | April 30, 2003 | 2701973 | $27019730 |
| Series 45 | September 16, 2003 | 4014367 | $40143670 |
| Series 46 | December 19, 2003 | 2980998 | $29809980 |

---

The Fund concluded its public offering of BACs in the Fund on December 19, 2003.

#### NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES
The condensed financial statements herein as of December 31, 2022 and for the three and nine months then ended have been prepared by the Fund, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. The Fund accounts for its investments in Operating Partnerships using the equity method, whereby the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. Costs incurred by the Fund in acquiring the investments in the Operating Partnerships are capitalized to the investment account.

The Fund's accounting and financial reporting policies are in conformity with generally accepted accounting principles and include adjustments in interim periods considered necessary for a fair presentation of the results of operations. Such adjustments are of a normal recurring nature. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to these rules and regulations. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Fund's Annual Report on Form 10-K for the fiscal year ended March 31, 2022.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

#### NOTE C - RELATED PARTY TRANSACTIONS
The Fund originally incurred a fund management fee to Boston Capital Asset Management Limited Partnership, an affiliate of the general partner, prior to the sale as disclosed in Note A. As part of the sale disclosed in Note A, the fund management fee is now assigned to BF Garden Companion Limited Partnership, a Massachusetts limited partnership formerly known as Boston Capital Companion Limited Partnership ("Companion") and an affiliate of the general partner, in an annual fund management fee of .5 percent of the aggregate cost of all apartment complexes owned by the Operating Partnerships. The obligation that had been accrued to Boston Capital Asset Management Limited Partnership was transferred to Companion as disclosed in Note A. Since reporting fees collected by the various series were added to reserves and not paid, the amounts accrued are not net of reporting fees received. The fund management fees accrued for the quarters ended December 31, 2022 and 2021, are as follows:

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Series 29 | $1128 | $1128 |
| Series 34 | 4623 | 4623 |
| Series 41 |  | 20094 |
| Series 42 |  | 4050 |
| Series 44 |  | 7935 |
| Series 45 | 876 | 15021 |
| Series 46 | 16582 | 40761 |
|  | $23209 | $93612 |

---

The fund management fees paid for the nine months ended December 31, 2022 and 2021 are as follows:

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Series 26 | $— | $5864 |
| Series 29 |  | 27499 |
| Series 32 |  | 8938 |
| Series 33 |  | 9326 |
| Series 41 |  | 33600 |
| Series 44 | 30914 | 411888 |
| Series 45 | 1152083 | 683677 |
| Series 46 | 676315 | 331796 |
|  | $1859312 | $1512588 |

---

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS

At December 31, 2022 and 2021, the Fund has limited partnership interests in 5 and 18 Operating Partnerships, respectively, which own or are constructing apartment complexes.

The breakdown of Operating Partnerships within the Fund at December 31, 2022 and 2021 are as follows:

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Series 20 |  |  |
| Series 21 |  |  |
| Series 22 |  |  |
| Series 23 |  |  |
| Series 24 |  |  |
| Series 25 |  |  |
| Series 26 |  |  |
| Series 27 |  |  |
| Series 28 |  |  |
| Series 29 | 1 | 1 |
| Series 30 |  |  |
| Series 31 |  |  |
| Series 32 |  |  |
| Series 33 |  |  |
| Series 34 | 1 | 1 |
| Series 35 |  |  |
| Series 36 |  |  |
| Series 37 |  |  |
| Series 38 |  |  |
| Series 39 |  |  |
| Series 40 |  |  |
| Series 41 |  | 1 |
| Series 42 |  | 2 |
| Series 43 |  |  |
| Series 44 |  | 1 |
| Series 45 |  | 4 |
| Series 46 | 3 | 8 |
|  | 5 | 18 |

---

Under the terms of the Fund's investment in each Operating Partnership, the Fund is required to make capital contributions to the Operating Partnerships. These contributions are payable in installments over several years upon each Operating Partnership achieving specified levels of construction and/or operations. The contributions payable at December 31, 2022 and 2021, are as follows:

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Series 29 | $785 | $785 |

---

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

During the nine months ended December 31, 2022 the Fund disposed of nine Operating Partnerships. A summary of the dispositions by series for December 31, 2022 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Operating<br>Partnership<br>Interest<br>Transferred | Sale of<br>Underlying<br>Operating<br>Partnership | &nbsp;&nbsp;&nbsp;&nbsp;<br>Fund Proceeds<br>from<br>Disposition | &nbsp;&nbsp;&nbsp;&nbsp;<br>Gain on<br>Disposition |
| Series 44 |  | 1 | $1746178 | $1746178 |
| Series 45 | 2 | 2 | 1411858 | 1411858 |
| Series 46 | 4 |  | 438241 | 438241 |
| Total | 6 | 3 | $3596277 | $3596277 |

---

During the nine months ended December 31, 2021 the Fund disposed of fifteen Operating Partnerships. A summary of the dispositions by series for December 31, 2021 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Operating<br>Partnership<br>Interest<br>Transferred | Sale of<br>Underlying<br>Operating<br>Partnership | <br>Fund Proceeds<br>from<br>Disposition | <br>Gain on<br>Disposition |
| Series 26 | 1 |  | $20845 | $20845 |
| Series 29 | 1 |  | 29999 | 29999 |
| Series 32 | 1 |  | 23823 | 23823 |
| Series 33 | 1 |  | 23823 | 23823 |
| Series 41 | 1 |  |  |  |
| Series 42 |  |  | 94182 | 94182 |
| Series 44 |  | 1 | 815747 | 815747 |
| Series 45 | 6 | 1 | 691381 | 691381 |
| Series 46 | 1 | 1 | 332367 | 332367 |
| Total | 12 | 3 | $2032167 | $2032167 |

---

The gain described above is for financial statement purposes only. There are significant differences between the equity method of accounting and the tax reporting of income and losses from Operating Partnership investments. The largest difference is the ability, for tax purposes, to deduct losses in excess of the Fund's investment in the Operating Partnership. As a result, the amount of gain recognized for tax purposes may be significantly higher than the gain recorded in the financial statements.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

The Fund's fiscal year ends March 31st for each year, while all the Operating Partnerships' fiscal years are the calendar year. Pursuant to the provisions of each Operating Partnership's partnership agreement, financial results for each of the Operating Partnerships are provided to the Fund within 45 days after the close of each Operating Partnership's quarterly period. Accordingly, the current financial results available for the Operating Partnerships are for the nine months ended September 30, 2022.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $1471670 | $7472044 |
| &nbsp;&nbsp;Interest and other | 36380 | 147786 |
|  | 1508050 | 7619830 |
| Expenses |  |  |
| &nbsp;&nbsp;Interest | 156496 | 1429567 |
| &nbsp;&nbsp;Depreciation and amortization | 318478 | 1446981 |
| &nbsp;&nbsp;Operating expenses | 1148871 | 4605616 |
|  | 1623845 | 7482164 |
| NET INCOME (LOSS) | $(115795) | $137666 |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $(114637) | $136289 |
| Net income (loss) allocated to other Partners | $(1158) | $1377 |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 20

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 21

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 22

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 23

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 24

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 25

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 26

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 27

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 28

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 29

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $244463 | $232847 |
| &nbsp;&nbsp;Interest and other |  |  |
|  | 244463 | 232847 |
| Expenses |  |  |
| &nbsp;&nbsp;Interest | 18344 | 20033 |
| &nbsp;&nbsp;Depreciation and amortization | 40731 | 30701 |
| &nbsp;&nbsp;Operating expenses | 239297 | 236855 |
|  | 298372 | 287589 |
| NET INCOME (LOSS) | $(53909) | $(54742) |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $(53370) | $(54195) |
| Net income (loss) allocated to other Partners | $(539) | $(547) |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 30

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 31

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 32

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 33

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 34

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $445546 | $428730 |
| &nbsp;&nbsp;Interest and other | 26930 | 16679 |
|  | 472476 | 445409 |
| Expenses |  |  |
| &nbsp;&nbsp;Interest | 64427 | 65027 |
| &nbsp;&nbsp;Depreciation and amortization | 64933 | 63958 |
| &nbsp;&nbsp;Operating expenses | 276221 | 272129 |
|  | 405581 | 401114 |
| NET INCOME (LOSS) | $66895 | $44295 |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $66226 | $43852 |
| Net income (loss) allocated to other Partners | $669 | $443 |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 35

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 36

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 37

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 38

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 39

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 40

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 41

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $1678479 |
| &nbsp;&nbsp;Interest and other |  | 25707 |
|  |  | 1704186 |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  | 323621 |
| &nbsp;&nbsp;Depreciation and amortization |  | 227435 |
| &nbsp;&nbsp;Operating expenses |  | 1033973 |
|  |  | 1585029 |
| NET INCOME (LOSS) | $— | $119157 |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $117965 |
| Net income (loss) allocated to other Partners | $— | $1192 |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 42

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $359247 |
| &nbsp;&nbsp;Interest and other |  | 6069 |
|  |  | 365316 |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  | 54397 |
| &nbsp;&nbsp;Depreciation and amortization |  | 88640 |
| &nbsp;&nbsp;Operating expenses |  | 232081 |
|  |  | 375118 |
| NET INCOME (LOSS) | $— | $(9802) |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $(9704) |
| Net income (loss) allocated to other Partners | $— | $(98) |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 43

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $— |
| &nbsp;&nbsp;Interest and other |  |  |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  |  |
| &nbsp;&nbsp;Depreciation and amortization |  |  |
| &nbsp;&nbsp;Operating expenses |  |  |
| NET INCOME (LOSS) | $— | $— |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $— |
| Net income (loss) allocated to other Partners | $— | $— |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 44

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $786198 |
| &nbsp;&nbsp;Interest and other |  | 4290 |
|  |  | 790488 |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  | 159737 |
| &nbsp;&nbsp;Depreciation and amortization |  | 165704 |
| &nbsp;&nbsp;Operating expenses |  | 380716 |
|  |  | 706157 |
| NET INCOME (LOSS) | $— | $84331 |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $83488 |
| Net income (loss) allocated to other Partners | $— | $843 |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 45

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $— | $911953 |
| &nbsp;&nbsp;Interest and other |  | 8939 |
|  |  | 920892 |
| Expenses |  |  |
| &nbsp;&nbsp;Interest |  | 154513 |
| &nbsp;&nbsp;Depreciation and amortization |  | 286050 |
| &nbsp;&nbsp;Operating expenses |  | 612938 |
|  |  | 1053501 |
| NET INCOME (LOSS) | $— | $(132609) |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $— | $(131283) |
| Net income (loss) allocated to other Partners | $— | $(1326) |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Nine Months Ended September 30,

(Unaudited)

Series 46

---

| | | |
|:---|:---|:---|
|  | 2022 | 2021 |
| Revenues |  |  |
| &nbsp;&nbsp;Rental | $781661 | $3074590 |
| &nbsp;&nbsp;Interest and other | 9450 | 86102 |
|  | 791111 | 3160692 |
| Expenses |  |  |
| &nbsp;&nbsp;Interest | 73725 | 652239 |
| &nbsp;&nbsp;Depreciation and amortization | 212814 | 584493 |
| &nbsp;&nbsp;Operating expenses | 633353 | 1836924 |
|  | 919892 | 3073656 |
| NET INCOME (LOSS) | $(128781) | $87036 |
| Net income (loss) allocated to BF Garden Tax Credit Fund IV L.P. | $(127493) | $86166 |
| Net income (loss) allocated to other Partners | $(1288) | $870 |

---

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

NOTE E - TAXABLE LOSS

The Fund's taxable loss is expected to differ from its loss for financial reporting purposes. This is primarily due to accounting differences in depreciation incurred by the Operating Partnerships and also differences between the equity method of accounting and the IRS accounting methods.

#### NOTE F - INCOME TAXES
The Fund has elected to be treated as a pass-through entity for income tax purposes and, as such, is not subject to income taxes. Rather, all items of taxable income, deductions and tax credits are passed through to and are reported by its owners on their respective income tax returns. The Fund's federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, the Fund is not required to take any tax positions in order to qualify as a pass-through entity. The Fund is required to file and does file tax returns with the Internal Revenue Service and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Fund has no other tax positions, which must be considered for disclosure. Income tax returns filed by the Fund are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2018 remain open.

[**Table of Contents**](#TOC)

BF Garden Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

December 31, 2022

(Unaudited)

#### NOTE G - SUBSEQUENT EVENTS
Events that occur after the balance sheet date but before the financial statements were available to be issued must be evaluated for recognition or disclosure. The effects of subsequent events that provide evidence about conditions that existed at the balance sheet date are recognized in the accompanying financial statements. Subsequent events, which provide evidence about conditions that existed after the balance sheet date, require disclosure in the accompanying notes. Management evaluated the activity of the Fund through the date the financial statements were issued, and concluded that, no subsequent events have occurred that would require recognition in the financial statements or disclosure in the notes to the financial statements.

[**Table of Contents**](#TOC)

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

BF Garden Tax Credit Fund IV L.P., a Delaware limited partnership formerly known as Boston Capital Tax Credit Fund IV L.P. (the "Fund"), was organized as of October 5, 1993 to invest as a limited partner in operating partnerships (the "Operating Partnerships"), each of which owns or leases and operates an apartment complex exclusively or partially for low- and moderate-income tenants. Effective as of December 15, 2020, Corporate Investment Holdings, Inc., a Massachusetts corporation owned by BF Garden Companion Limited Partnership, a Massachusetts limited partnership formerly known as Boston Capital Companion Limited Partnership ("Companion"), replaced BCA Associates Limited Partnership as the general partner of the Fund's general partner, BF Garden Associates IV L.P., a Delaware limited partnership formerly known as Boston Capital Associates IV L.P. Additionally, Companion replaced Capital Investment Holdings IV Limited Partnership as the sole limited partner of the Fund's General Partner. Also, effective as of December 15, 2020, BFBC Holdings GP, LLC, a Delaware limited liability company and an affiliate of Boston Financial Investment Management, LP, a Delaware limited partnership ("BFIM"), replaced Boston Capital Partners II Corporation as the general partner of Companion; and BFIM replaced Boston Capital Companion Holdings Limited Partnership as the sole limited partner of Companion. The assignor limited partner of the Fund continues to be BCTC IV Assignor Corp., a Delaware corporation which is now wholly owned by Companion.

Liquidity

The Fund's primary source of funds was the proceeds of its Public Offering. Other sources of liquidity include (i) interest earned on capital contributions unpaid for the nine months ended December 31, 2022 or on working capital reserves, (ii) cash distributions from operations of the Operating Partnerships in which the Fund has invested and (iii) proceeds received from the dispositions of the Operating Partnership that are returned to fund reserves. These sources of liquidity, along with the Fund's working capital reserve, are available to meet the obligations of the Partnership. The Fund does not anticipate significant cash distributions from operations of the Operating Partnerships.

The Fund is currently accruing the fund management fee. Fund management fees accrued during the quarter ended December 31, 2022 were $23,209 and total fund management fees accrued as of December 31, 2022 were $7,017,470. During the nine months ended December 31, 2022, $1,859,312 of the accrued fund management fees were paid. Pursuant to the Fund's partnership agreement, these liabilities will be deferred until the Fund receives proceeds from sales of the Operating Partnerships that will be used to satisfy these liabilities. The Fund's working capital and sources of liquidity coupled with affiliated party liability accruals allow sufficient levels of liquidity to meet the third party obligations of the Fund. The Fund is currently unaware of any trends that would create insufficient liquidity to meet future third party obligations of the Fund.

[**Table of Contents**](#TOC)

Capital Resources

The Fund offered beneficial assignee certificates ("BACs") in the Public Offering declared effective by the Securities and Exchange Commission on December 16, 1993. The Fund received $38,667,000, $18,927,000, $25,644,000, $33,366,000, $21,697,000, $30,248,000, $39,959,000, $24,607,000, $39,999,000, $39,918,000, $26,490,750, $44,057,750, $47,431,000, $26,362,000, $35,273,000, $33,004,630, $21,068,375, $25,125,000, $25,431,000, $22,921,000, $26,629,250, $28,916,260, $27,442,620, $27,442,620, $36,379,870, $27,019,730, $40,143,670 and $29,809,980 representing 3,866,700, 1,892,700, 2,564,400, 3,336,727, 2,169,878, 3,026,109, 3,995,900, 2,460,700, 4,000,738, 3,991,800, 2,651,000, 4,417,857, 4,754,198, 2,636,533, 3,529,319, 3,300,463, 2,106,837, 2,512,500, 2,543,100, 2,292,152, 2,630,256, 2,891,626, 2,744,262, 3,637,987, 2,701,973, 4,014,367 and 2,980,998 BACs from investors admitted as BAC holders in Series 20, Series 21, Series 22, Series 23, Series 24, Series 25, Series 26, Series 27, Series 28, Series 29, Series 30, Series 31, Series 32, Series 33, Series 34, Series 35, Series 36, Series 37, Series 38, Series 39, Series 40, Series 41, Series 42, Series 43, Series 44, Series 45 and Series 46, respectively, as of December 31, 2022.

Series 20

The Fund commenced offering BACs in Series 20 on January 21, 1994. Offers and sales of BACs in Series 20 were completed on June 24, 1994. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 24 Operating Partnerships in the amount of $27,693,970. Series 20 has since sold its interest in all 24 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 20 had released all payments of its capital contributions to the Operating Partnerships.

Series 21

The Fund commenced offering BACs in Series 21 on July 5, 1994. Offers and sales of BACs in Series 21 were completed on September 30, 1994. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 14 Operating Partnerships in the amount of $13,872,728. Series 21 has since sold its interest in all 14 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 21 had released all payments of its capital contributions to the Operating Partnerships.

Series 22

The Fund commenced offering BACs in Series 22 on October 12, 1994. Offers and sales of BACs in Series 22 were completed on December 28, 1994. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 29 Operating Partnerships in the amount of $18,758,748. Series 22 has since sold its interest in all 29 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 22 had released all payments of its capital contributions to the Operating Partnerships.

Series 23

The Fund commenced offering BACs in Series 23 on January 10, 1995. Offers and sales of BACs in Series 23 were completed on June 23, 1995. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 22 Operating Partnerships in the amount of $24,352,278. Series 23 has since sold its interest in all 22 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 23 had released all payments of its capital contributions to the Operating Partnerships.

Series 24

The Fund commenced offering BACs in Series 24 on June 9, 1995. Offers and sales of BACs in Series 24 were completed on September 22, 1995. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 24 Operating Partnerships in the amount of $15,796,309. Series 24 has since sold its interest in all 24 of the Operating Partnerships.

[**Table of Contents**](#TOC)

Prior to the quarter ended December 31, 2022, Series 24 had released all payments of its capital contributions to the Operating Partnerships.

Series 25

The Fund commenced offering BACs in Series 25 on September 30, 1995. Offers and sales of BACs in Series 25 were completed on December 29, 1995. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 22 Operating Partnerships in the amount of $22,324,539. Series 25 has since sold its interest in all 22 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 25 had released all payments of its capital contributions to the Operating Partnerships.

Series 26

The Fund commenced offering BACs in Series 26 on January 18, 1996. Offers and sales of BACs in Series 26 were completed on June 14, 1996. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 45 Operating Partnerships in the amount of $29,401,215. Series 26 has since sold its interest in all 45 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 26 had released all payments of its capital contributions to the Operating Partnerships.

Series 27

The Fund commenced offering BACs in Series 27 on June 17, 1996. Offers and sales of BACs in Series 27 were completed on September 27, 1996. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 16 Operating Partnerships in the amount of $17,881,574. Series 27 has since sold its interest in all 16 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 27 had released all payments of its capital contributions to the Operating Partnerships.

Series 28

The Fund commenced offering BACs in Series 28 on September 30, 1996. Offers and sales of BACs in Series 28 were completed on January 31, 1997. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 26 Operating Partnership in the amount of $29,281,983. Series 28 has since sold its interest in all 26 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 28 had released all payments of its capital contributions to the Operating Partnerships.

Series 29

The Fund commenced offering BACs in Series 29 on February 10, 1997. Offers and sales of BACs in Series 29 were completed on June 20, 1997. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 22 Operating Partnerships in the amount of $29,137,877. Series 29 has since sold its interest in 21 of the Operating Partnerships and 1 remains.

During the quarter ended December 31, 2022, Series 29 did not record any releases of capital contributions. Series 29 has outstanding contributions payable to 1 Operating Partnership in the amount of $785 as of December 31, 2022. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

Series 30

The Fund commenced offering BACs in Series 30 on June 23, 1997. Offers and sales of BACs in Series 30 were completed on September 10, 1997. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 20 Operating Partnerships in the amount of $19,497,869. Series 30 has since sold its interest in all 20 of the Operating Partnerships.

[**Table of Contents**](#TOC)

Prior to the quarter ended December 31, 2022, Series 30 had released all payments of its capital contributions to the Operating Partnerships.

Series 31

The Fund commenced offering BACs in Series 31 on September 11, 1997. Offers and sales of BACs in Series 31 were completed on January 18, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 27 Operating Partnerships in the amount of $32,569,100. Series 31 has since sold its interest in all 27 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 31 had released all payments of its capital contributions to the Operating Partnerships.

Series 32

The Fund commenced offering BACs in Series 32 on January 19, 1998. Offers and sales of BACs in Series 32 were completed on June 23, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 17 Operating Partnerships in the amount of $34,129,677. Series 32 has since sold its interest in all 17 of the Operating Partnerships and membership interests.

Prior to the quarter ended December 31, 2022, Series 32 had released all payments of its capital contributions to the Operating Partnerships.

Series 33

The Fund commenced offering BACs in Series 33 on June 22, 1998. Offers and sales of BACs in Series 33 were completed on September 21, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 10 Operating Partnerships in the amount of $19,594,100. Series 33 has since sold its interest in all 10 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 33 had released all payments of its capital contributions to the Operating Partnerships.

Series 34

The Fund commenced offering BACs in Series 34 on September 22, 1998. Offers and sales of BACs in Series 34 were completed on February 11, 1999. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 14 Operating Partnerships in the amount of $25,738,978. Series 34 has since sold its interest in 13 of the Operating Partnerships and 1 remains.

Prior to the quarter ended December 31, 2022, Series 34 had released all payments of its capital contributions to the Operating Partnerships.

Series 35

The Fund commenced offering BACs in Series 35 on February 22, 1999. Offers and sales of BACs in Series 35 were completed on June 28, 1999. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 11 Operating Partnerships in the amount of $24,002,391. Series 35 has since sold its interest in all 11 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 35 had released all payments of its capital contributions to the Operating Partnerships.

Series 36

The Fund commenced offering BACs in Series 36 on June 22, 1999. Offers and sales of BACs in Series 36 were completed on September 28, 1999. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 11 Operating Partnerships in the amount of $15,277,041. Series 36 has since sold its interest in all 11 of the Operating Partnerships.

[**Table of Contents**](#TOC)

Prior to the quarter ended December 31, 2022, Series 36 had released all payments of its capital contributions to the Operating Partnerships.

Series 37

The Fund commenced offering BACs in Series 37 on October 29, 1999. Offers and sales of BACs in Series 37 were completed on January 28, 2000. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 7 Operating Partnerships in the amount of $18,735,142. Series 37 has since sold its interest in all 7 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 37 had released all payments of its capital contributions to the Operating Partnerships.

Series 38

The Fund commenced offering BACs in Series 38 on February 1, 2000. Offers and sales of BACs in Series 38 were completed on July 31, 2000. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 10 Operating Partnerships in the amount of $18,612,287. Series 38 has since sold its interest in all 10 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 38 had released all payments of its capital contributions to the Operating Partnerships, and the general partner interest of the other operating limited partnerships had been disposed.

Series 39

The Fund commenced offering BACs in Series 39 on August 1, 2000. Offers and sales of BACs in Series 39 were completed on January 31, 2001. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 9 Operating Partnerships in the amount of $17,115,492. Series 39 has since sold its interest in all 9 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 39 had released all payments of its capital contributions to the Operating Partnerships, and the general partner interest of the other operating limited partnerships had been disposed.

Series 40

The Fund commenced offering BACs in Series 40 on February 1, 2001. Offers and sales of BACs in Series 40 were completed on July 31, 2001. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 16 Operating Partnerships in the amount of $19,030,772. Series 40 has since sold its interest in all 16 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 40 had released all payments of its capital contributions to the Operating Partnerships, and the general partner interest of the other operating limited partnerships had been disposed.

Series 41

The Fund commenced offering BACs in Series 41 on August 1, 2001. Offers and sales of BACs in Series 41 were completed on January 31, 2002. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 23 Operating Partnerships in the amount of $21,278,631. Series 41 has since sold its interest in all 23 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 41 had released all payments of its capital contributions to the Operating Partnerships.

Series 42

The Fund commenced offering BACs in Series 42 on February 1, 2002. Offers and sales of BACs in Series 42 were completed on July 31, 2002. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 23 Operating Partnerships in the amount of $20,661,120. Series 42 has since sold its interest in all 23 of the Operating Partnerships.

[**Table of Contents**](#TOC)

Prior to the quarter ended December 31, 2022, Series 42 had released all payments of its capital contributions to the Operating Partnerships.

Series 43

The Fund commenced offering BACs in Series 43 on August 1, 2002. Offers and sales of BCAs in Series 43 were completed in December 31, 2002. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 23 Operating Partnerships in the amount of $26,326,543. Series 43 has since sold its interest in all 23 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 43 had released all payments of its capital contributions to the Operating Partnerships, and the general partner interest of the other operating limited partnerships had been disposed.

Series 44

The Fund commenced offering BACs in Series 44 on January 14, 2003. Offers and sales of BACs in Series 44 were completed in April 30, 2003. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 10 Operating Partnerships in the amount of $20,248,519. Series 44 has since sold its interest in all 10 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 44 had released all payments of its capital contributions to the Operating Partnerships.

Series 45

The Fund commenced offering BACs in Series 45 on July 1, 2003. Offers and sales of BACs in Series 45 were completed on September 16, 2003. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 31 Operating Partnerships in the amount of $30,232,512. Series 45 has since sold its interest in all 31 of the Operating Partnerships.

Prior to the quarter ended December 31, 2022, Series 45 had released all payments of its capital contributions to the Operating Partnerships.

Series 46

The Fund commenced offering BACs in Series 46 on September 23, 2003. Offers and sales of BACs in Series 46 were completed on December 19, 2003. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 15 Operating Partnerships in the amount of $22,495,082. Series 46 has since sold its interest in 12 of the Operating Partnerships and 3 remain.

Prior to the quarter ended December 31, 2022, Series 46 had released all payments of its capital contributions to the Operating Partnerships.

Results of Operations

As of December 31, 2022 and 2021, the Fund held limited partnership interests in 5 and 18 Operating Partnerships, respectively. In each instance the apartment complex owned by the applicable Operating Partnership is eligible for the federal housing tax credit. Initial occupancy of a unit in each apartment complex which complied with the minimum set-aside test (i.e., initial occupancy by tenants with incomes equal to no more than a certain percentage of area median income) and the rent restriction test (i.e., gross rent charged tenants does not exceed 30% of the applicable income standards) is referred to as "Qualified Occupancy." Each of the Operating Partnerships and each of the respective apartment complexes are described more fully in the Prospectus or applicable report on Form 8-K. The general partner of the Fund believes that there is adequate casualty insurance on the properties.

[**Table of Contents**](#TOC)

The Fund originally incurred a fund management fee to Boston Capital Asset Management Limited Partnership, formerly an affiliate of the Fund's general partner. As part of the sale disclosed in Note A, the fund management fee is now with BF Garden Companion Limited Partnership (formerly known as Boston Capital Companion Limited Partnership), an affiliate of the Fund's general partner, in an annual fund management fee of.5 percent of the aggregate cost of the apartment complexes owned by the Operating Partnerships, less the amount of certain asset management and reporting fees paid by the Operating Partnerships. The fund management fees incurred and the reporting fees paid by the Operating Partnerships for the three and nine months ended December 31, 2022 are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | <br>3 Months<br>Gross Fund<br>Management Fee | <br>3 Months<br>Asset Management and<br>Reporting Fee | 3 Months<br>Fund Management Fee Net<br>of Asset Management and<br>Reporting Fee |
| Series 29 | $1128 | $— | $1128 |
| Series 34 | 4623 |  | 4623 |
| Series 44 |  |  |  |
| Series 45 | 876 |  | 876 |
| Series 46 | 16582 | 10191 | 6391 |
|  | $28456 | $10191 | $13018 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | <br>9 Months<br>Gross Fund<br>Management Fee | <br>9 Months<br>Asset Management and<br>Reporting Fee | 9 Months<br>Fund Management Fee Net<br>of Asset Management and<br>Reporting Fee |
| Series 29 | $3384 | $— | $3384 |
| Series 34 | 13869 | 3000 | 10869 |
| Series 44 | 2645 | 2645 |  |
| Series 45 | 13575 | 8729 | 4846 |
| Series 46 | 61425 | 37099 | 24326 |
|  | $94898 | $51473 | $43425 |

---

The Fund's investment objectives do not include receipt of significant cash distributions from the Operating Partnerships in which it has invested or intends to invest. The Fund's investments in Operating Partnerships have been and will be made principally with a view towards realization of federal housing tax credits for allocation to its partners and BAC holders.

Series 20

The series did not have any properties as of December 31, 2022 and 2021.

Series 21

The series did not have any properties as of December 31, 2022 and 2021.

Series 22

The series did not have any properties as of December 31, 2022 and 2021.

Series 23

The series did not have any properties as of December 31, 2022 and 2021.

Series 24

The series did not have any properties as of December 31, 2022 and 2021.

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Series 25

The series did not have any properties as of December 31, 2022 and 2021.

Series 26

The series did not have any properties as of December 31, 2022 and 2021.

In August 2021, the investment general partner transferred its interest in Brookhaven Apartments Partnership, A Louisiana Partners, with cash proceeds to the investment partnership of $20,845. These proceeds were returned to cash reserves held by Series 26 and recorded as a gain on transfer as of September 30, 2021.

Series 27

The series did not have any properties as of December 31, 2022 and 2021.

Series 28

The series did not have any properties as of December 31, 2022 and 2021.

Series 29

The series had 1 property at December 31, 2022.

For the nine-month periods ended December 31, 2022 and 2021, Series 29 reflects a net loss from Operating Partnerships of $(53,909) and $(54,742), respectively, which includes depreciation and amortization of $40,731 and $30,701, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In August 2021, the investment general partner transferred its interest in Palmetto Place Apartments Partnership, A LA Partnership, with cash proceeds to the investment partnership of $29,999. These proceeds were returned to cash reserves held by Series 29 and recorded as a gain on transfer as of September 30, 2021.

Series 30

The series did not have any properties as of December 31, 2022 and 2021.

Series 31

The series did not have any properties as of December 31, 2022 and 2021.

Series 32

The series did not have any properties as of December 31, 2022 and 2021.

In August 2021, the investment general partner transferred its interest in Pecan Manor Apartments Partnership, A Louisiana Partnership in Commendam, with cash proceeds to the investment partnership of $23,823. These proceeds were returned to cash reserves held by Series 32 and recorded as a gain on transfer as of September 30, 2021.

Series 33

The series did not have any properties as of December 31, 2022 and 2021.

[**Table of Contents**](#TOC)

In August 2021, the investment general partner transferred its interest in Forest Park Apartments Partnership, A Louisiana Partnership in Commendam, with cash proceeds to the investment partnership of $23,823. These proceeds were returned to cash reserves held by Series 33 and recorded as a gain on transfer as of September 30, 2021.

Series 34

The series had 1 property at December 31, 2022.

For the nine-month periods ended December 31, 2022 and 2021, Series 34 reflects a net income from the Operating Partnerships of $66,895 and $44,295, respectively, which includes depreciation and amortization of $64,933 and $63,958, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

Series 35

The series did not have any properties as of December 31, 2022 and 2021.

Series 36

The series did not have any properties as of December 31, 2022 and 2021.

Series 37

The series did not have any properties as of December 31, 2022 and 2021.

Series 38

The series did not have any properties as of December 31, 2022 and 2021.

Series 39

The series did not have any properties as of December 31, 2022 and 2021.

Series 40

The series did not have any properties as of December 31, 2022 and 2021.

Series 41

The series did not have any properties as of December 31, 2022.

For the nine-month periods ended December 31, 2022 and 2021, Series 41 reflects a net income from Operating Partnerships of $- and $119,157, respectively, which includes depreciation and amortization of $- and $227,435, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In December 2021, the investment general partner transferred its interest in Halfmoon BDC, Limited Partnership, with no cash proceeds to the investment partnership for Series 41 and Series 45, respectively.

In January 2022, the investment general partner of Series 41 and Series 42 transferred their respective interest in Marwood Senior Associates, LLC, with cash proceeds to the investment partnership of $1,151,653 and $128,346, for Series 41 and Series 42, respectively. These proceeds of $1,151,653 and $128,346, for Series 41 and Series 42, respectively, were returned to cash reserves and recorded as a gain on transfer as of March 31, 2022.

[**Table of Contents**](#TOC)

Series 42

The series did not have any properties as of December 31, 2022.

For the nine-month periods ended December 31, 2022 and 2021, Series 42 reflects a net loss from Operating Partnerships of $- and $(9,802), respectively, which includes depreciation and amortization of $- and $88,640, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In July 2020, the operating general partner of Lynnelle Landing Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on October 1, 2020. The sales price of the property was $1,650,000, which included the outstanding mortgage balance of approximately $1,014,143 and cash proceeds to the investment partnership of $130,000. Of the total proceeds received by the investment partnership, $5,000 was paid for expenses related to the sale, which include third party legal costs. In addition, $11,300 was applied to advances outstanding. The remaining proceeds from the sale of $113,700 will be returned to cash reserves held by Series 42. A gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $113,700 as of December 31, 2020. In September 2021, the investment partnership received additional proceeds equal to its share of the Operating Partnership's cash in the amount of $94,182 which was returned to the cash reserves.

In January 2022, the investment general partner of Series 41 and Series 42 transferred their respective interest in Marwood Senior Associates, LLC, with cash proceeds to the investment partnership of $1,151,653 and $128,346, for Series 41 and Series 42, respectively. These proceeds of $1,151,653 and $128,346, for Series 41 and Series 42, respectively, were returned to cash reserves and recorded as a gain on transfer as of March 31, 2022.

In January 2022, the investment general partner sold its interest in New Chester Townhouses II, A Limited Partnership, with cash proceeds to the investment partnership of $25,350. These proceeds were returned to cash reserves held by Series 42 and recorded as a gain on sale as of March 31, 2022.

Series 43

The series did not have any properties as of December 31, 2022 and 2021.

Series 44

The series did not have any properties as of December 31, 2022.

For the nine-month periods ended December 31, 2022 and 2021, Series 44 reflects a net income from Operating Partnerships of $- and $84,331, respectively, which includes depreciation and amortization of $- and $165,704, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In September 2021, the investment general partner sold its interest in North Forty Aspen Plus, L.P., with cash proceeds to the investment partnership of $815,747. These proceeds were returned to cash reserves held by Series 44 and recorded as a gain on sale as of September 30, 2021.

In April 2022, the investment general partner sold its interest in Aurora Village Associates, LLP, with cash proceeds to the investment partnership of $1,746,178. These proceeds were returned to cash reserves held by Series 44 and recorded as a gain on sale as of June 30, 2022.

Series 45

The series did not have any properties as of December 31, 2022.

For the nine-month periods ended December 31, 2022 and 2021, Series 45 reflects a net loss from Operating Partnerships of $- and $(132,609), respectively, which includes depreciation and amortization of $- and $286,050, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

[**Table of Contents**](#TOC)

In June 2021, the investment general partner of Series 45 and BF Garden Tax Credit Fund V - Series 47 transferred their respective interest in Dawn Springs Villa LP, with cash proceeds to the investment partnership of $22,749 and $12,249, for Series 45 and Series 47, respectively. These proceeds of $22,749 and $12,249, for Series 45 and Series 47, respectively, were returned to cash reserves and recorded as a gain on transfer as of June 30, 2021.

In June 2021, the investment general partner transferred its interest in London Village, Limited, with cash proceeds to the investment partnership of $173,991. These proceeds were returned to cash reserves held by Series 45 and recorded as a gain on transfer as of June 30, 2021.

In June 2021, the investment general partner transferred its interest in Heritage Christian Home III, LP, with cash proceeds to the investment partnership of $14,400. These proceeds were returned to cash reserves held by Series 45 and recorded as a gain on transfer as of June 30, 2021.

In September 2021, the investment general partner transferred its interest in Childress Apartments, LTD., with cash proceeds to the investment partnership of $39,999. These proceeds were returned to cash reserves held by Series 45 and recorded as a gain on transfer as of September 30, 2021.

In September 2021, the investment general partner of Series 45 and Series 46 sold their respective interest in Bartlett Bayou, L.P., with cash proceeds to the investment partnership of $200,606 and $59,381, for Series 45 and Series 46, respectively. These proceeds of $200,606 and $59,381, for Series 45 and Series 46, respectively, were returned to cash reserves and recorded as a gain on sale as of September 30, 2021.

In December 2021, the investment general partner transferred its interest in Halfmoon BDC, Limited Partnership, with no cash proceeds to the investment partnership for Series 41 and Series 45, respectively.

In December 2021, the investment general partner transferred its interest in Willow Oak and Oroville Apartments, with cash proceeds to the investment partnership of $239,636. These proceeds were returned to cash reserves held by Series 45 and recorded as a gain on transfer as of December 31, 2021.

In April 2022, the investment general partner sold its interest in Kings Point Investment Group, LLLP, with cash proceeds to the investment partnership of $1,153,431. These proceeds were returned to cash reserves held by Series 45 and recorded as a gain on sale as of June 30, 2022.

In April 2022, the investment general partner sold its interest in University Plaza Investment Group, LLLP, with cash proceeds to the investment partnership of $252,438. These proceeds were returned to cash reserves held by Series 45 and recorded as a gain on sale as of June 30, 2022.

In July 2022, the investment general partner transferred its interest in Farmington Associates I, L.P., with cash proceeds to the investment partnership of $4,999. These proceeds were returned to cash reserves held by Series 45 and recorded as a gain on transfer as of September 30, 2022.

In October 2022, the investment general partner transferred its interest in Harbet Avenue Limited Partnership, with cash proceeds to the investment partnership of $990. These proceeds were returned to cash reserves held by Series 45 and recorded as a gain on transfer as of December 31, 2022.

Series 46

The series had a total of 3 properties at December 31, 2022.

For the nine-month periods ended December 31, 2022 and 2021, Series 46 reflects a net income (loss) from Operating Partnerships of $(128,781) and $87,036, respectively, which includes depreciation and amortization of $212,814 and $584,493, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

[**Table of Contents**](#TOC)

In June 2021, the investment general partner transferred its interest in Sandy Hill, Limited, with cash proceeds to the investment partnership of $272,986. These proceeds were returned to cash reserves held by Series 46 and recorded as a gain on transfer as of June 30, 2021.

In September 2021, the investment general partner of Series 45 and Series 46 sold their respective interest in Bartlett Bayou, L.P., with cash proceeds to the investment partnership of $200,606 and $59,381, for Series 45 and Series 46, respectively. These proceeds of $200,606 and $59,381, for Series 45 and Series 46, respectively, were returned to cash reserves and recorded as a gain on sale as of September 30, 2021.

In March 2022, the investment general partner transferred its interest in Kimberly Danbury Limited Partnership, with cash proceeds to the investment partnership of $213,899. These proceeds were returned to cash reserves held by Series 46 and recorded as a gain on transfer as of March 31, 2022.

In May 2022, the investment general partner transferred its interest in Jacksonville Square Housing, Ltd. with cash proceeds to the investment partnership of $32,998. These proceeds were returned to cash reserves held by Series 46 and recorded as a gain on transfer as of June 30, 2022.

In May 2022, the investment general partner transferred its interest in Panola Housing, Ltd. with cash proceeds to the investment partnership of $23,999. These proceeds were returned to cash reserves held by Series 46 and recorded as a gain on transfer as of June 30, 2022.

In June 2022, the investment general partner of Series 46 and BF Garden Tax Credit Fund V - Series 49 transferred their respective interest in Linden - Shawnee Partners, Limited Partnership, with cash proceeds to the investment partnership of $21,624 and $3,375, for Series 46 and Series 49, respectively. These proceeds of $21,624 and $3,375, for Series 46 and Series 49, respectively, were returned to cash reserves and recorded as a gain on transfer as of June 30, 2022.

In November 2022, the investment general partner transferred its interest in Rosehill Place of Topeka, L.L.C. with cash proceeds to the investment partnership of $359,620. These proceeds were returned to cash reserves held by Series 46 and recorded as a gain on transfer as of December 31, 2022.

The investment general partner will continue to monitor the following Operating Partnership because of operational or other issues. However, this Operating Partnership has exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

Saint Martin Apartments

Critical Accounting Estimates

In accordance with the accounting guidance for the consolidation of variable interest entities, the Fund determines when it should include the assets, liabilities, and activities of a variable interest entity ("VIE") in its financial statements, and when it should disclose information about its relationship with a VIE. The analysis that must be performed to determine which entity should consolidate a VIE focuses on control and economic factors. A VIE is a legal structure used to conduct activities or hold assets, which must be consolidated by a company if it is the primary beneficiary because it has (1) the power to direct the activities of the VIE that most significantly impact the VIE's economic performance and (2) the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. If multiple unrelated parties share such power, as defined, no party will be required to consolidate the VIE. Further, the guidance requires continual reconsideration of the primary beneficiary of a VIE.

Based on this guidance, management has determined that while the Operating Partnerships in which the Fund invests meet the definition of a VIE, the Operating Partnerships should not be consolidated with the Fund because the Fund does not have the power to direct the activities of the Operating Partnerships which are significant to their performance and is therefore not a primary beneficiary of the Operating Partnerships. The Fund currently records the amount of its investment in these partnerships as an asset on its balance sheets, recognizes its share of partnership income or losses in the statements of operations, and discloses how it accounts for material types of these investments in its financial statements. The Fund's balance in investment in Operating Partnerships, advances made to Operating Partnerships, plus the risk of recapture of tax credits previously recognized on the investments, represents its maximum exposure to loss. The Fund's exposure to loss on these partnerships is mitigated by the condition and financial performance of the underlying housing complexes as well as the strength of the general partners and their guarantee against credit recapture to the investors of the Fund.

[**Table of Contents**](#TOC)

Item 3Quantitative and Qualitative Disclosures About Market Risk

Not Applicable

Item 4Controls and Procedures

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Evaluation of Disclosure Controls and Procedures

As of the end of the period covered by this report, the Fund's general partner, under the supervision and with the participation of the Principal Executive Officer and Principal Financial Officer of Corporate Investment Holdings, Inc., carried out an evaluation of the effectiveness of the Fund's "disclosure controls and procedures" as defined under the Securities Exchange Act of 1934 Rules 13a-15 and 15d-15 with respect to each series individually, as well as the Fund as a whole. Based on that evaluation, the Fund's Principal Executive Officer and Principal Financial Officer have concluded that as of the end of the period covered by this report, the Fund's disclosure controls and procedures were effective to ensure that information relating to any series or the Fund as a whole required to be disclosed by it in the reports that it files or submits under the Securities Exchange Act of 1934 (i) is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms and (ii) is accumulated and communicated to the Fund's management, including the Fund's Principal Executive Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure with respect to each series individually, as well as the Fund as a whole.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Changes in Internal Controls

There were no changes in the Fund's or any series' internal control over financial reporting that occurred during the quarter ended December 31, 2022 that materially affected, or are reasonably likely to materially affect, the Fund's or any series' internal control over financial reporting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Certifications

The Certifications of the Principal Executive Officer and Principal Financial Officer of the Fund required by Section 302 and Section 906 of the Sarbanes-Oxley Act of 2002, which are filed or furnished as Exhibits 31.a, 31.b, 32.a and 32.b to this Quarterly Report on Form 10-Q, are applicable to each series individually and the Fund as a whole.

[**Table of Contents**](#TOC)

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None

Item 1A. Risk Factors

There have been no material changes from the risk factors set forth under Part I, Item 1A. "Risk Factors" in our Form 10-K for the fiscal year ended March 31, 2022.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None

Item 3. Defaults Upon Senior Securities

None

Item 4. Mine Safety Disclosures

Not Applicable

Item 5. Other Information

None

Item 6. Exhibits

---

| |
|:---|
| [31.a Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, of Gregory Voyentzie, Principal Executive Officer, filed herewith](bctciv-20221231xex31da.htm) |
| [31.b Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, of Marie Reynolds, Principal Accounting and Financial Officer, filed herewith](bctciv-20221231xex31db.htm) |
| [32.a Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, of Gregory Voyentzie, Principal Executive Officer, filed herewith](bctciv-20221231xex32da.htm) |
| [32.b Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, of Marie Reynolds, Principal Accounting and Financial Officer, filed herewith](bctciv-20221231xex32db.htm) |
| 101. The following materials from the BF Garden Tax Credit Fund IV L.P. Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2022 formatted in Inline Extensible Business Reporting Language (iXBRL): (i) the Condensed Balance Sheets, (ii) the Condensed Statements of Operations, (iii) the Condensed Statements of Changes in Partners' Capital (Deficit), (iv) the Condensed Statements of Cash Flows and (v) related notes, filed herewith |
| 104. Cover Page Interactive Data File (formatted in iXBRL and included in Exhibit 101). |

---

[**Table of Contents**](#TOC)

SIGNATURES

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

---

| | | | |
|:---|:---|:---|:---|
|  | BF Garden Tax Credit Fund IV L.P. | BF Garden Tax Credit Fund IV L.P. | BF Garden Tax Credit Fund IV L.P. |
|  | By: | BF Garden Associates IV L.P., | BF Garden Associates IV L.P., |
|  |  | its General Partner | its General Partner |
|  |  | Corporate Investment Holdings, Inc., | Corporate Investment Holdings, Inc., |
|  |  | its General Partner | its General Partner |
| Date: February 13, 2023 |  | By: | /s/ Gregory Voyentzie |
|  |  |  | Gregory Voyentzie |
|  |  |  | President (Principal Executive Officer) |

---

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Fund and in the capacities and on the dates indicated:

---

| | | |
|:---|:---|:---|
| DATE: | SIGNATURE: | TITLE: |
| February 13, 2023 | /s/ Gregory Voyentzie | President (Principal Executive Officer), |
|  | Gregory Voyentzie | Corporate Investment Holdings, Inc. |
| February 13, 2023 | /s/ Marie Reynolds | Treasurer (Principal Accounting and Financial Officer), |
|  | Marie Reynolds | Corporate Investment Holdings, Inc. |

---

## Ex-31.A

**Exhibit 31.a**

I,Gregory Voyentzie, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this quarterly report on Form 10-Q of BF Garden Tax Credit Fund IV L.P.;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: February 13, 2023 | /s/ Gregory Voyentzie |
|  | Gregory Voyentzie |
|  | Principal Executive Officer, <br>BF Garden Associates IV L.P. |

---

------

## Ex-31.B

**Exhibit 31.b**

I,Marie Reynolds, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this quarterly report on Form 10-Q of BF Garden Tax Credit Fund IV L.P.;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: February 13, 2023 | /s/ Marie Reynolds |
|  | Marie Reynolds |
|  | Principal Accounting and Financial Officer, <br>BF Garden Associates IV L.P. |

---

------

## Ex-32.A

**EXHIBIT 32.a**

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of BF Garden Tax Credit Fund IV L.P. (the "Fund") on Form 10-Q for the period ended December 31, 2022 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Gregory Voyentzie, Principal Executive Officer of the Fund's general partner, BF Garden Associates IV L.P., certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge, after due inquiry:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Report fully complies with the requirements of section 13(a)-15 or 15(d)-15 of the Securities and Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Fund.

---

| | |
|:---|:---|
| Date: February 13, 2023 |  |
|  | /s/ Gregory Voyentzie |
|  | Gregory Voyentzie |
|  | Principal Executive Officer,<br>BF Garden Associates IV L.P. |

---

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Fund and will be retained by the Fund and furnished to the Securities and Exchange Commission or its staff upon request.

------

## Ex-32.B

**EXHIBIT 32.b**

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of BF Garden Tax Credit Fund IV L.P. (the "Fund") on Form 10-Q for the period ended December 31, 2022 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Marie Reynolds, Principal Financial Officer of the Fund's general partner, BF Garden Associates IV L.P., certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge, after due inquiry:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Report fully complies with the requirements of section 13(a)-15 or 15(d)-15 of the Securities and Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Fund.

---

| | |
|:---|:---|
| Date: February 13, 2023 |  |
|  | /s/ Marie Reynolds |
|  | Marie Reynolds |
|  | Principal Accounting and Financial Officer,<br>BF Garden Associates IV L.P. |

---

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Fund and will be retained by the Fund and furnished to the Securities and Exchange Commission or its staff upon request.

------