Overview

A Stellar Track Record

We have one of the most successful records in the tax credit industry. We’ve closed more than 70 institutional LIHTC funds since our founding, and we are adding to this total by sponsoring three to five new funds every year.

Our ability to raise capital is a direct result of our excellent returns. The actual IRRs of our funds average 106 percent of the original investment IRR.

Institutional LIHTC Tax Credit Funds

0
25
50
75
100
125
150
175%
115%
I
91%
II
97%
III
106%
IV
98%
VII
154%
VIII
100%
IX
99%
X CA
103%
X CA 2
101%
X CA 3
101%
X CA 4
108%
X CA 5
106%
X CA 6
104%
X CA 7
103%
X CA 8
107%
X CA 9
102%
X CA 10
101%
X CA 11
104%
X CA 12
101%
X CA 13
102%
X NJ
102%
X NJ 2
105%
X NY
99%
X NY 2
98%
X NY 3
109%
X NY 4
118%
X NY 5
95%
X NY 6
103%
X NY 7
106%
X NY 8
101%
X NY 9
105%
X NY 10
96%
XI
101%
XII
96%
XII-2
101%
XIV
106%
XV
129%
XVI
112%
XVII
108%
XVIII
93%
XIX
100%
XX
120%
XXI
98%
XXIII
102%
XXIV
115%
XXV
99%
XXVI
105%
XXIX
134%
XXX
107%
XXXI
129%
XXXII
120%
XXXIII
105%
XXXIV
106%
XXXV
104%
XXXVI
106%
XXXVII
101%
XXXVIII
100%
XXXIX
100%
XL
110%
WNC36-3

Diversified Product Lines

We offer investors a choice of national, state, private label and retail funds, each designed to take advantage of promising opportunities.

Funds Investors Tax Credit Funds Pre-Tax Credit Funds
National Multi-Investor Funds 22 59
Proprietary Funds 24 11
California Funds 14 35
New York Funds 12 16
New Markets Funds 17 5
State Credit Funds 8 18
Individual Investor Funds
19,400 53 73
National Multi-Investor Funds
Proprietary Funds
California Funds
New York Funds
New Markets Funds
State Credit Funds
Individual Investor Funds
Funds
22
24
14
12
17
8
Investors
59
11
35
16
5
18
19,400
Tax Credit Funds
53
Pre-Tax Credit Funds
73

Attracting Repeat Investors

We value the many solid partnerships we have forged over the years. In fact, more than 90 percent of the capital we raise is from these relationships.

Our partners include more than 90 institutional investors and 28 Fortune 500 companies. No single investor has provided more than 15 percent of the total equity raised.

Capital
Sources
Repeat Investors 96
Other 4
Repeat Investors
96
Other
4
Industries
Banking 59
Insurance 31
Other 10
Banking
59
Insurance
31
Other
10
Products
Multi-Investor State & National Funds 82
Other 18
Multi-Investor State & National Funds
82
Other
18