Attached files
| file | filename |
|---|---|
| EX-32 - BCTC V ASSIGNOR CORP CERT 906 - BCTC V ASSIGNOR CORP | b5assignork10cert906mnt.htm |
| EX-32 - BCTC V ASSIGNOR CORP CERT 906 - BCTC V ASSIGNOR CORP | b5assignork10cert906jpm.htm |
| EX-31 - BCTC V ASSIGNOR CORP CERT 302 - BCTC V ASSIGNOR CORP | b5assignork10cert302mnt.htm |
| EX-31 - BCTC V ASSIGNOR CORP CERT 302 - BCTC V ASSIGNOR CORP | b5assignork10cert302jpm.htm |
| EX-4 - BCTC V ASSIGNOR CORP DESCRIPTION OF SEC. - BCTC V ASSIGNOR CORP | b5acdescriptofsec.htm |
| 10-K - BCTC V ASSIGNOR CORP 2019 10-K - BCTC V ASSIGNOR CORP | bctcvassignorcorp121910k.htm |
FINANCIAL STATEMENTS AND
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
BCTC V ASSIGNOR CORP.
DECEMBER 31, 2019 and 2018
BCTC V Assignor Corp.
TABLE OF CONTENTS
PAGE
REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM 3
FINANCIAL STATEMENT
BALANCE SHEETS 4
NOTES TO FINANCIAL STATEMENTS 5
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the President and Chief Financial Officer
BCTC V Assignor Corp.
Opinion on the Financial Statements
We have audited the accompanying balance sheets of BCTC V Assignor Corp. (the "Company") as of December 31, 2019 and 2018, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2019 and 2018 in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal security laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits of the balance sheets provide a reasonable basis for our opinion.
/s/ CohnReznick LLP
We have served as the Company's auditor since 2003.
Bethesda, Maryland
March 4, 2020
3
BALANCE SHEETS
December 31,
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ASSETS |
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2019 |
2018 |
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Investment in limited partnership (note B) |
$ 100 |
$ 100 |
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LIABILITY AND STOCKHOLDER'S EQUITY |
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Subscription payable |
$ 100 |
$ 100 |
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Stockholder's equity |
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Common stock - 1,000 shares authorized, issued and outstanding, $1 par value per share |
1,000 |
1,000 |
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Less: subscription receivable |
(1,000) |
(1,000) |
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- |
- |
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$ 100 |
$ 100 |
The accompanying notes are an integral part of these financial statements.
4
NOTES TO FINANCIAL STATEMENTS
December 31, 2019 and 2018
NOTE A - ORGANIZATION
BCTC V Assignor Corp. (the "Corporation") was organized on October 15, 2003, under the laws of the State of Delaware to act as the assignor limited partner of, and to acquire and hold a limited partnership interest in, Boston Capital Tax Credit Fund V L.P. (the "Limited Partnership"). The Corporation will assign units of beneficial interest in its limited partnership interest to persons who purchase Beneficial Assignee Certificates (BACs), on the basis of one unit of beneficial interest for each BAC. The Corporation will not have any interest in profits, losses or distributions on its own behalf.
NOTE B - INVESTMENT IN LIMITED PARTNERSHIP
On October 15, 2003, the Corporation was admitted as the assignor limited partner in Boston Capital Tax Credit Fund V L.P. The Limited Partnership was formed to invest in real estate by acquiring, holding, and disposing of limited partnership interests in operating partnerships which will acquire, develop, rehabilitate, operate and own newly-constructed, existing or rehabilitated low-income apartment complexes. The Corporation has recorded its $100 investment at cost.
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