- 66 -
Revenues:
Rental income $76,790
Interest income 2,756
79,546
Expenses:
Interest 118,082
Depreciation 21,343
Real estate taxes 18,123
Amortization 3,804
Property management fee 8,250
Rental commission 5,305
Insurance 5,480
Repairs and maintenance 8,500
Other 9,759
198,646
Loss from operations (119,100)
Partners' capital contributions 134,334
Partners' capital at end of year 15,234
One of the accompanying notes deals with related-party
transactions and states as follows:
4. Related party transactions
Equity Programs Investment Corporation
(EPIC) is the sole general partner for EPIC
Associates 84-III. The general partner
manages, controls and administers the
business of the Partnership. The general
partner is compensated for these services in
accordance with the fee structure set forth
in the Private Placement Offering Memorandum
of the Partnership. The Partnership
incurred $8,250 of cost to EPIC for these
services during 1983. In addition the
partnership paid organization fees to EPIC
of $83,755.
Interest is charged or paid to the
Partnership on the due to/from general
partners balance in accordance with the
rates prescribed in the Private Placement
Offering Memorandum. The Partnership earned
Page: Previous 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 NextLast modified: May 25, 2011