BOSTON FINANCIAL TAX CREDIT FUND VII LP

CIK:0000892342|SEC Filings

STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
STATEMENTS OF OPERATIONS (USD $)	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2011	Dec. 31, 2010
Revenue
Investment	$ 3,163	$ 2,769	$ 9,149	$ 7,935
Cash distribution income	0	30,084	0	30,084
Total Revenue	3,163	32,853	9,149	38,019
Expenses:
Asset Management Fees, affiliate	98,380	96,926	295,141	290,779
Provision for valuation allowance on advances to Local Limited Partnerships	2,000	0	2,000	0
Impairment on investments in Local Limited Partnerships	0	0	0	231,000
General and administrative (includes reimbursements to an affiliate in the amounts of $6,222 and $32,125 for the three months and $24,680 and $126,643 for the nine months ended December 31, 2011 and 2010, respectively)	23,390	52,798	67,193	188,124
Amortization	886	886	2,657	2,657
Total Expenses	124,656	150,610	366,991	712,560
Loss before equity in income (losses) of Local Limited Partnerships	(121,493)	(117,757)	(357,842)	(674,541)
Equity in income (losses) of Local Limited Partnerships (Note 1)	6,042	(87,461)	9,966	(101,423)
Gain on disposition of investments in Local Limited Partnerships	0	0	925,100	472,876
Net Income (Loss)	(115,451)	(205,218)	577,224	(303,088)
Net Income (Loss) allocated:
General Partners	(1,155)	(2,052)	5,772	(3,031)
Limited Partners	(114,296)	(203,166)	571,452	(300,057)
Net Income (Loss) allocated to Partners	$ (115,451)	$ (205,218)	$ 577,224	$ (303,088)
Net Income (Loss) Per Limited Partner Unit (50,930 Units) (in dollars per unit)	(2.24)	(3.99)	11.22	(5.89)

STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
STATEMENTS OF CASH FLOWS (USD $)	Dec. 31, 2011	Dec. 31, 2010
Net cash used for operating activities	$ (274,120)	$ (498,248)
Net cash provided by investing activities	923,100	568,237
Net increase in cash and cash equivalents	648,980	69,989
Cash and cash equivalents, beginning	2,479,438	2,671,659
Cash and cash equivalents, ending	$ 3,128,418	$ 2,741,648

BALANCE SHEETS (USD $)	Dec. 31, 2011	Mar. 31, 2011
Assets
Cash and cash equivalents	$ 3,128,418	$ 2,479,438
Investments in Local Limited Partnerships (Note 1)	91,602	84,293
Due from affiliate	0	1,454
Other assets	303	660
Total Assets	3,220,323	2,565,845
Liabilities and Partners' Equity
Due to affiliate	98,380	0
Accrued expenses	5,710	26,836
Total Liabilities	104,090	26,836
General, Initial and Investor Limited Partners' Equity	3,116,233	2,539,009
Total Liabilities and Partners' Equity	$ 3,220,323	$ 2,565,845