Fri, Jun 21, 3:05 PM (78 days ago)
BF Garden Tax Credit Fund IV L.P. filed its annual report for the fiscal year ended March 31, 2024. The Fund, organized in Delaware, invests as a limited partner in partnerships that own low-income housing properties. The Fund has raised $836.2 million through the issuance of 83.7 million Beneficial Assignee Certificates (BACs) across 27 series since its inception. For FY 2024, the Fund reported no revenue, operating expenses of $25,141, and no net income across all series. The Fund's primary objective is to provide Federal Housing Tax Credits to investors, not significant cash flow distributions. The Fund has disposed of properties in all series except Series 34 and Series 46, which hold one property each. The Fund has historically made return of equity distributions when properties are sold. Risk factors include potential IRS audits, changes in tax laws, and noncompliance with low-income housing tax credit regulations. The Fund has no employees, and services are provided by the general partner and affiliates. The Fund does not anticipate significant future cash distributions and relies on working capital reserves to meet obligations.