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Mar. 31, Mar. 31, Mar. 31, Mar. 31, Mar. 31,
1989 1990 1991 1992 1993 Totals
Lincoln
Partnership #1, L.P.
Income $149,050 $198,129 $187,277 $169,864 $116,424 820,744
Expenses 1 (15,127) (13,252) (12,476) (34,994) (38,341) (114,190)
Amortization expense (150,000) (150,000) (150,000) (150,000) (150,000) (750,000)
Net income or loss (16,077) 34,877 24,801 (15,130) (71,917) (43,446)
Lincoln
Partnership #2, L.P.
Income 149,136 221,869 209,500 163,287 129,907 873,699
Expenses (14,531) (46,993) (36,626) (36,584) (38,645) (173,379)
Amortization expense (150,000) (150,000) (150,000) (150,000) (150,000) (750,000)
Net income or loss (15,395) 24,876 22,874 (23,297) (58,738) (49,680)
Lincoln
Partnership #3, L.P.
Income 149,038 200,833 203,125 186,726 127,427 867,149
Expenses 1 (14,535) (30,951) (52,987) (46,259) (40,085) (184,817)
Amortization expense (150,000) (150,000) (150,000) (150,000) (150,000) (750,000)
Net income or loss (15,497) 19,882 138 (9,533) (62,658) (67,668)
HFC Partnership, L.P.
Income 149,060 125,176 48,272 81,548 139,338 543,394
Expenses 1 (39,298) (67,798) (60,875) (60,994) (41,798) (270,763)
Amortization expense (150,000) (150,000) (150,000) (150,000) (150,000) (750,000)
Net income or loss (40,238) (92,622) (162,603) (129,446) (52,460) (477,369)
Lincoln 88 Partnership, L.P.
Income 26,756 343,078 356,683 326,129 284,163 1,336,809
Expenses 1 (5,824) (20,970) (19,566) (18,513) (19,875) (84,748)
Amortization expense (42,000) (168,000) (168,000) (168,000) (168,000) (714,000)
Net income or loss (21,068) 154,108 169,117 139,616 96,288 538,061
Lincoln
Partnership #11, L.P.
Income 57,738 473,567 454,991 422,188 357,760 1,766,244
Expenses 1 (9,499) (41,996) (25,881) (81,238) (82,297) (240,911)
Amortization expense (55,125) (220,500) (220,500) (220,500) (220,500) (937,125)
Net income or loss (6,886) 211,071 208,610 120,450 54,963 588,208
Two Thousand Eight
Partnership, L.P.
Income 11,181 469,729 454,248 381,249 302,874 1,619,281
Expenses (1,552) (39,747) (76,534) (76,202) (78,240) (272,275)
Amortization expense (55,125) (220,500) (220,500) (220,500) (220,500) (937,125)
Net income or loss (45,496) 209,482 157,214 84,547 4,134 409,881
Donlan
Partnership #1, L.P.
Income 11,181 469,741 461,009 423,668 296,173 1,661,772
Expenses 1 (1,586) (60,338) (91,066) (89,907) (75,460) (318,357)
Amortization expense (55,125) (220,500) (220,500) (220,500) (220,500) (937,125)
Net income or loss (45,530) 188,903 149,443 113,261 213 406,290
HFC2 Partnership, L.P.
Income 11,226 267,163 137,798 187,255 287,858 891,300
Expenses 1 (51,336) (132,790) (118,742) (118,573) (76,472) (497,913)
Amortization expense (55,125) (220,500) (220,500) (220,500) (220,500) (937,125)
Net income or loss (95,235) (86,127) (201,444) (151,818) (9,114) (543,738)
1These amounts reflect Lincoln's allocations of portfolio income expense and investment interest
expense, as reflected on Lincoln's Schedules K-1 for the years in issue.
Over this 5-year period, Lincoln's allocations of partnership
income exceeded its amortization deductions by $2,917,892 (income
of $10,380,392 and amortization deductions of $7,462,500).
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