﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2012v2.1">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2013-11-15T19:43:55-06:00</Timestamp>
    <TaxPeriodEndDate>2012-12-31</TaxPeriodEndDate>
    <PreparerFirm>
      <EIN>943108253</EIN>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>NOVOGRADAC &amp; COMPANY LLP</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>PO BOX 7833</AddressLine1>
        <City>SAN FRANCISCO</City>
        <State>CA</State>
        <ZIPCode>941207833</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990</ReturnType>
    <TaxPeriodBeginDate>2012-01-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>770490711</EIN>
      <Name>
        <BusinessNameLine1>SILVERCREST INC</BusinessNameLine1>
      </Name>
      <NameControl>SILV</NameControl>
      <Phone>5594438400</Phone>
      <USAddress>
        <AddressLine1>1331 FULTON MALL</AddressLine1>
        <City>FRESNO</City>
        <State>CA</State>
        <ZIPCode>937761985</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>PRESTON PRINCE</Name>
      <Title>EXECUTIVE DIRECTOR</Title>
      <Phone>5594438400</Phone>
      <DateSigned>2013-11-15</DateSigned>
      <AuthorizeThirdParty>1</AuthorizeThirdParty>
    </Officer>
    <Preparer>
      <Name>JONATHAN ADKINS</Name>
      <PTIN>P01303469</PTIN>
      <Phone>4153568000</Phone>
    </Preparer>
    <TaxYear>2012</TaxYear>
    <BuildTS>2016-03-07 17:11:31Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="5">
    <IRS990 documentId="RetDoc1038000001" referenceDocumentId="RetDoc1044400001">
      <NameOfPrincipalOfficerPerson>PRESTON PRINCE</NameOfPrincipalOfficerPerson>
      <AddressPrincipalOfficerUS>
        <AddressLine1>1331 FULTON MALL</AddressLine1>
        <City>FRESNO</City>
        <State>CA</State>
        <ZIPCode>937211630</ZIPCode>
      </AddressPrincipalOfficerUS>
      <GrossReceipts>302838</GrossReceipts>
      <GroupReturnForAffiliates>0</GroupReturnForAffiliates>
      <Organization501c3>X</Organization501c3>
      <WebSite>N/A</WebSite>
      <TypeOfOrganizationCorporation>X</TypeOfOrganizationCorporation>
      <YearFormation>1998</YearFormation>
      <StateLegalDomicile>CA</StateLegalDomicile>
      <ActivityOrMissionDescription>TO PROVIDE AFFORDABLE HOUSING FOR LOW TO MODERATE INCOME FAMILIES.</ActivityOrMissionDescription>
      <NbrVotingMembersGoverningBody>7</NbrVotingMembersGoverningBody>
      <NbrIndependentVotingMembers>7</NbrIndependentVotingMembers>
      <TotalNbrEmployees>0</TotalNbrEmployees>
      <TotalNbrVolunteers>0</TotalNbrVolunteers>
      <TotalGrossUBI>0</TotalGrossUBI>
      <NetUnrelatedBusinessTxblIncome>0</NetUnrelatedBusinessTxblIncome>
      <ContributionsGrantsPriorYear>5800</ContributionsGrantsPriorYear>
      <ContributionsGrantsCurrentYear>0</ContributionsGrantsCurrentYear>
      <ProgramServiceRevenuePriorYear>52900</ProgramServiceRevenuePriorYear>
      <ProgramServiceRevenueCY>302644</ProgramServiceRevenueCY>
      <InvestmentIncomePriorYear>72</InvestmentIncomePriorYear>
      <InvestmentIncomeCurrentYear>194</InvestmentIncomeCurrentYear>
      <OtherRevenuePriorYear>0</OtherRevenuePriorYear>
      <OtherRevenueCurrentYear>0</OtherRevenueCurrentYear>
      <TotalRevenuePriorYear>58772</TotalRevenuePriorYear>
      <TotalRevenueCurrentYear>302838</TotalRevenueCurrentYear>
      <GrantsAndSimilarAmntsPriorYear>0</GrantsAndSimilarAmntsPriorYear>
      <GrantsAndSimilarAmntsCY>0</GrantsAndSimilarAmntsCY>
      <BenefitsPaidToMembersPriorYear>0</BenefitsPaidToMembersPriorYear>
      <BenefitsPaidToMembersCY>0</BenefitsPaidToMembersCY>
      <SalariesEtcPriorYear>0</SalariesEtcPriorYear>
      <SalariesEtcCurrentYear>0</SalariesEtcCurrentYear>
      <TotalProfFundrsngExpPriorYear>798</TotalProfFundrsngExpPriorYear>
      <TotalProfFundrsngExpCY>0</TotalProfFundrsngExpCY>
      <TotalFundrsngExpCurrentYear>0</TotalFundrsngExpCurrentYear>
      <OtherExpensePriorYear>10347</OtherExpensePriorYear>
      <OtherExpensesCurrentYear>304094</OtherExpensesCurrentYear>
      <TotalExpensesPriorYear>11145</TotalExpensesPriorYear>
      <TotalExpensesCurrentYear>304094</TotalExpensesCurrentYear>
      <RevenuesLessExpensesPriorYear>47627</RevenuesLessExpensesPriorYear>
      <RevenuesLessExpensesCY>-1256</RevenuesLessExpensesCY>
      <TotalAssetsBOY>177983</TotalAssetsBOY>
      <TotalAssetsEOY>493867</TotalAssetsEOY>
      <TotalLiabilitiesBOY>72925</TotalLiabilitiesBOY>
      <TotalLiabilitiesEOY>390065</TotalLiabilitiesEOY>
      <NetAssetsOrFundBalancesBOY>105058</NetAssetsOrFundBalancesBOY>
      <NetAssetsOrFundBalancesEOY>103802</NetAssetsOrFundBalancesEOY>
      <MissionDescription>TO PROVIDE AFFORDABLE HOUSING FOR LOW TO MODERATE INCOME FAMILIES.</MissionDescription>
      <SignificantNewProgramServices>0</SignificantNewProgramServices>
      <SignificantChange>0</SignificantChange>
      <Expense>304094</Expense>
      <Revenue>302644</Revenue>
      <Description>LOW INCOME HOUSING PROJECTS</Description>
      <TotalProgramServiceExpense>304094</TotalProgramServiceExpense>
      <DescribedIn501C3 referenceDocumentId="RetDoc1039100001">1</DescribedIn501C3>
      <ScheduleBRequired>0</ScheduleBRequired>
      <PoliticalActivities>0</PoliticalActivities>
      <LobbyingActivities>0</LobbyingActivities>
      <SubjectToProxyTax>0</SubjectToProxyTax>
      <DonorAdvisedFunds referenceDocumentId="RetDoc1040000001">0</DonorAdvisedFunds>
      <ConservationEasements referenceDocumentId="RetDoc1040000001">0</ConservationEasements>
      <CollectionsOfArt referenceDocumentId="RetDoc1040000001">0</CollectionsOfArt>
      <CreditCounseling referenceDocumentId="RetDoc1040000001">0</CreditCounseling>
      <TermOrPermanentEndowments referenceDocumentId="RetDoc1040000001">0</TermOrPermanentEndowments>
      <ReportLandBldgEquip referenceDocumentId="RetDoc1040000001">0</ReportLandBldgEquip>
      <ReportInvestOthSecurities referenceDocumentId="RetDoc1040000001">0</ReportInvestOthSecurities>
      <ReportProgRelInvest referenceDocumentId="RetDoc1040000001">0</ReportProgRelInvest>
      <ReportOtherAssets referenceDocumentId="RetDoc1040000001">0</ReportOtherAssets>
      <ReportOtherLiabilities referenceDocumentId="RetDoc1040000001">1</ReportOtherLiabilities>
      <ReportFin48Footnote referenceDocumentId="RetDoc1040000001">0</ReportFin48Footnote>
      <IndependentAuditFinancialStmt referenceDocumentId="RetDoc1040000001">1</IndependentAuditFinancialStmt>
      <ConsolidatedAuditFinancialStmt referenceDocumentId="RetDoc1040000001">0</ConsolidatedAuditFinancialStmt>
      <School>0</School>
      <ForeignOffice>0</ForeignOffice>
      <ForeignActivities>0</ForeignActivities>
      <MoreThan5000KToOrganizations>0</MoreThan5000KToOrganizations>
      <MoreThan5000KToIndividuals>0</MoreThan5000KToIndividuals>
      <ProfessionalFundraising>0</ProfessionalFundraising>
      <FundraisingActivities>0</FundraisingActivities>
      <Gaming>0</Gaming>
      <Hospital>0</Hospital>
      <GrantsToOrganizations>0</GrantsToOrganizations>
      <GrantsToIndividuals>0</GrantsToIndividuals>
      <ScheduleJRequired>0</ScheduleJRequired>
      <TaxExemptBonds>0</TaxExemptBonds>
      <ExcessBenefitTransaction>0</ExcessBenefitTransaction>
      <PriorExcessBenefitTransaction>0</PriorExcessBenefitTransaction>
      <LoanToOfficerOrDQP>0</LoanToOfficerOrDQP>
      <GrantToRelatedPerson>0</GrantToRelatedPerson>
      <BsnssRltnshpWithOrganization>0</BsnssRltnshpWithOrganization>
      <BsnssRltnshpThruFamilyMember>0</BsnssRltnshpThruFamilyMember>
      <OfficerEntityWithBsnssRltnshp>0</OfficerEntityWithBsnssRltnshp>
      <DeductibleNonCashContributions>0</DeductibleNonCashContributions>
      <DeductibleContributionsOfArt>0</DeductibleContributionsOfArt>
      <Terminated>0</Terminated>
      <PartialLiquidation>0</PartialLiquidation>
      <DisregardedEntity referenceDocumentId="RetDoc1043400001">0</DisregardedEntity>
      <RelatedEntity referenceDocumentId="RetDoc1043400001">1</RelatedEntity>
      <RelatedOrgControlledEntity>0</RelatedOrgControlledEntity>
      <TransfersToExemptNonChrtblOrg referenceDocumentId="RetDoc1043400001">1</TransfersToExemptNonChrtblOrg>
      <ActivitiesConductedPartnership referenceDocumentId="RetDoc1043400001">0</ActivitiesConductedPartnership>
      <ScheduleORequired>1</ScheduleORequired>
      <NumberFormsTransmittedWith1096>0</NumberFormsTransmittedWith1096>
      <NumberW2GIncluded>0</NumberW2GIncluded>
      <NumberOfEmployees>0</NumberOfEmployees>
      <UnrelatedBusinessIncome>0</UnrelatedBusinessIncome>
      <ForeignFinancialAccount>0</ForeignFinancialAccount>
      <ProhibitedTaxShelterTrans>0</ProhibitedTaxShelterTrans>
      <TaxablePartyNotification>0</TaxablePartyNotification>
      <NonDeductibleContributions>0</NonDeductibleContributions>
      <QuidProQuoContributions>0</QuidProQuoContributions>
      <Form8282PropertyDisposedOf>0</Form8282PropertyDisposedOf>
      <FundsToPayPremiums>0</FundsToPayPremiums>
      <PremiumsPaid>0</PremiumsPaid>
      <IndoorTanningServices>0</IndoorTanningServices>
      <InfoInScheduleOPartVI>X</InfoInScheduleOPartVI>
      <NbrVotingGoverningBodyMembers>7</NbrVotingGoverningBodyMembers>
      <NumberIndependentVotingMembers>7</NumberIndependentVotingMembers>
      <FamilyOrBusinessRelationship>0</FamilyOrBusinessRelationship>
      <DelegationOfManagementDuties>0</DelegationOfManagementDuties>
      <ChangesToOrganizingDocs>0</ChangesToOrganizingDocs>
      <MaterialDiversionOrMisuse>0</MaterialDiversionOrMisuse>
      <MembersOrStockholders>0</MembersOrStockholders>
      <ElectionOfBoardMembers>0</ElectionOfBoardMembers>
      <DecisionsSubjectToApproval>0</DecisionsSubjectToApproval>
      <MinutesOfGoverningBody>1</MinutesOfGoverningBody>
      <MinutesOfCommittees>1</MinutesOfCommittees>
      <OfficerMailingAddress>0</OfficerMailingAddress>
      <LocalChapters>0</LocalChapters>
      <Form990ProvidedToGoverningBody>1</Form990ProvidedToGoverningBody>
      <ConflictOfInterestPolicy>0</ConflictOfInterestPolicy>
      <WhistleblowerPolicy>0</WhistleblowerPolicy>
      <DocumentRetentionPolicy>0</DocumentRetentionPolicy>
      <CompensationProcessCEO>0</CompensationProcessCEO>
      <CompensationProcessOther>0</CompensationProcessOther>
      <InvestmentInJointVenture>0</InvestmentInJointVenture>
      <StatesWhereCopyOfReturnIsFiled>CA</StatesWhereCopyOfReturnIsFiled>
      <UponRequest>X</UponRequest>
      <TheBooksAreInCareOf>
        <NameBusiness>
          <BusinessNameLine1>TRACEWELL HANRAHAN</BusinessNameLine1>
        </NameBusiness>
        <TelephoneNumber>5594438400</TelephoneNumber>
        <AddressUS>
          <AddressLine1>1331 FULTON MALL</AddressLine1>
          <City>FRESNO</City>
          <State>CA</State>
          <ZIPCode>93721</ZIPCode>
        </AddressUS>
      </TheBooksAreInCareOf>
      <NoListedPersonsCompensated>X</NoListedPersonsCompensated>
      <Form990PartVIISectionA>
        <NamePerson>PRESTON PRINCE</NamePerson>
        <Title>SECRETARY/DIRECTOR</Title>
        <AverageHoursPerWeek>0.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>TRACEWELL HANRAHAN</NamePerson>
        <Title>TREASURER</Title>
        <AverageHoursPerWeek>0.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>RENEETA ANTHONY</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>KENDRA ROGERS</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>CRAIG SCHARTON</NamePerson>
        <Title>VICE CHAIRMAN</Title>
        <AverageHoursPerWeek>0.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>PAM KALLSEN</NamePerson>
        <Title>CHAIRWOMAN</Title>
        <AverageHoursPerWeek>0.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <TotalReportableCompFromOrg>0</TotalReportableCompFromOrg>
      <TotalReportableCompFrmRltdOrgs>0</TotalReportableCompFrmRltdOrgs>
      <TotalOtherCompensation>0</TotalOtherCompensation>
      <NumberIndividualsGT100K>0</NumberIndividualsGT100K>
      <FormersListed>0</FormersListed>
      <TotalCompGT150K>0</TotalCompGT150K>
      <CompensationFromOtherSources>0</CompensationFromOtherSources>
      <NumberOfContractorsGT100K>0</NumberOfContractorsGT100K>
      <ProgramServiceRevenue>
        <Description>SANGER INCENTIVE MANAG</Description>
        <BusinessCode>531110</BusinessCode>
        <TotalRevenueColumn>273601</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>273601</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>PARC GROVE MANAGEMENT</Description>
        <BusinessCode>531110</BusinessCode>
        <TotalRevenueColumn>21500</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>21500</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>SANGER PARTNERSHIP MAN</Description>
        <BusinessCode>531110</BusinessCode>
        <TotalRevenueColumn>6743</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>6743</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>OTHER INCOME</Description>
        <BusinessCode>531110</BusinessCode>
        <TotalRevenueColumn>800</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>800</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <TotalProgramServiceRevenue>302644</TotalProgramServiceRevenue>
      <InvestmentIncome>
        <TotalRevenueColumn>194</TotalRevenueColumn>
        <ExclusionAmount>194</ExclusionAmount>
      </InvestmentIncome>
      <TotalRevenue>
        <TotalRevenueColumn>302838</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>302644</RelatedOrExemptFunctionIncome>
        <UnrelatedBusinessRevenue>0</UnrelatedBusinessRevenue>
        <ExclusionAmount>194</ExclusionAmount>
      </TotalRevenue>
      <FeesForServicesAccounting>
        <Total>861</Total>
        <ProgramServices>861</ProgramServices>
      </FeesForServicesAccounting>
      <FeesForServicesOther>
        <Total>25</Total>
        <ProgramServices>25</ProgramServices>
      </FeesForServicesOther>
      <PaymentsToAffiliates>
        <Total>273601</Total>
        <ProgramServices>273601</ProgramServices>
      </PaymentsToAffiliates>
      <OtherExpenses>
        <Description>FLOWTHROUGH LOSSES FROM</Description>
        <Total>29607</Total>
        <ProgramServices>29607</ProgramServices>
      </OtherExpenses>
      <TotalFunctionalExpenses>
        <Total>304094</Total>
        <ProgramServices>304094</ProgramServices>
        <ManagementAndGeneral>0</ManagementAndGeneral>
        <Fundraising>0</Fundraising>
      </TotalFunctionalExpenses>
      <CashNonInterestBearing>
        <BOY>64656</BOY>
        <EOY>369865</EOY>
      </CashNonInterestBearing>
      <AccountsReceivable>
        <BOY>58267</BOY>
        <EOY>108549</EOY>
      </AccountsReceivable>
      <OtherAssetsTotal>
        <BOY>55060</BOY>
        <EOY>15453</EOY>
      </OtherAssetsTotal>
      <TotalAssets>
        <BOY>177983</BOY>
        <EOY>493867</EOY>
      </TotalAssets>
      <AccountsPayableAccruedExpenses>
        <BOY>9050</BOY>
        <EOY>9050</EOY>
      </AccountsPayableAccruedExpenses>
      <OtherLiabilities>
        <BOY>63875</BOY>
        <EOY>381015</EOY>
      </OtherLiabilities>
      <TotalLiabilities>
        <BOY>72925</BOY>
        <EOY>390065</EOY>
      </TotalLiabilities>
      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>105058</BOY>
        <EOY>103802</EOY>
      </UnrestrictedNetAssets>
      <TotalNetAssetsFundBalances>
        <BOY>105058</BOY>
        <EOY>103802</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>177983</BOY>
        <EOY>493867</EOY>
      </TotalLiabNetAssetsFundBalances>
      <ReconcilationRevenueExpenses>-1256</ReconcilationRevenueExpenses>
      <ReconcilationOtherChanges>0</ReconcilationOtherChanges>
      <InfoInScheduleOPartXII>X</InfoInScheduleOPartXII>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>0</AccountantCompileOrReview>
      <FSAudited>1</FSAudited>
      <FSAuditedBasis>
        <FinancialStatementConsolidated>X</FinancialStatementConsolidated>
      </FSAuditedBasis>
      <AuditCommittee>1</AuditCommittee>
      <FederalGrantAuditRequired>0</FederalGrantAuditRequired>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc1039100001">
      <PubliclySupportedOrg509a2>X</PubliclySupportedOrg509a2>
      <GrossReceiptsFromAdmissions>
        <CurrentTaxYearMinus4Years>6000</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>5500</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>5500</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>5800</CurrentTaxYearMinus1Year>
        <Total>22800</Total>
      </GrossReceiptsFromAdmissions>
      <Total509>
        <CurrentTaxYearMinus4Years>6000</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>5500</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>5500</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>5800</CurrentTaxYearMinus1Year>
        <Total>22800</Total>
      </Total509>
      <AmtsRecdFromDisqualPersons>
        <Total>0</Total>
      </AmtsRecdFromDisqualPersons>
      <AmtsFromSubstContributors>
        <Total>0</Total>
      </AmtsFromSubstContributors>
      <SupportFromDQPsEtc>
        <Total>0</Total>
      </SupportFromDQPsEtc>
      <PublicSupportTotal509>22800</PublicSupportTotal509>
      <GrossInvestmentIncome509>
        <CurrentTaxYearMinus3Years>130</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>184</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>72</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>194</CurrentTaxYear>
        <Total>580</Total>
      </GrossInvestmentIncome509>
      <InvestmentIncomeAndUBTI>
        <CurrentTaxYearMinus3Years>130</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>184</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>72</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>194</CurrentTaxYear>
        <Total>580</Total>
      </InvestmentIncomeAndUBTI>
      <TotalSupportTotal>
        <CurrentTaxYearMinus4Years>6000</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>5630</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>5684</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>5872</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>194</CurrentTaxYear>
        <Total>23380</Total>
      </TotalSupportTotal>
      <PublicSupportPercentage509>0.97520</PublicSupportPercentage509>
      <PriorYearSupportPercentage>0.99210</PriorYearSupportPercentage>
      <InvestmentIncomePercentage>0.02480</InvestmentIncomePercentage>
      <PriorYrInvestIncomePercentage>0.00790</PriorYrInvestIncomePercentage>
      <ThirtyThreePercntTestsCY509>X</ThirtyThreePercntTestsCY509>
    </IRS990ScheduleA>
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <TotalOfBookValueLandBuildings>0</TotalOfBookValueLandBuildings>
      <OtherLiabilities>
        <Description>DUE TO FRESNO HOUSING AUTHORITY</Description>
        <Amount>381015</Amount>
      </OtherLiabilities>
      <TotalOfAmounts>381015</TotalOfAmounts>
      <TotRevenueEtcAuditedFinclStmt>302838</TotRevenueEtcAuditedFinclStmt>
      <RevenueNotRptdF990>0</RevenueNotRptdF990>
      <RevenueSubtotal>302838</RevenueSubtotal>
      <RevenueNotRptdOnFinStmt>0</RevenueNotRptdOnFinStmt>
      <TotalRevenuePerForm990>302838</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>304094</TotExpensesEtcAuditedFinclStmt>
      <ExpensesNotRptdF990>0</ExpensesNotRptdF990>
      <ExpensesSubtotal>304094</ExpensesSubtotal>
      <ExpensesNotRptdOnFinStmt>0</ExpensesNotRptdOnFinStmt>
      <TotalExpensesPerForm990>304094</TotalExpensesPerForm990>
    </IRS990ScheduleD>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>THE EXECUTIVE DIRECTOR, PRESIDENT AND SELECTED BOARD MEMBERS REVIEW AND APPROVE FINAL DRAFTS OF RETURNS PREPARED BY OUTSIDE TAX ACCOUNTANTS AND IN HOUSE ACCOUNTING STAFF.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>NO REQUESTS WERE RECEIVED TO MAKE DOCUMENTS AVAILABLE TO THE PUBLIC IN 2012. UPON REQUEST, DOCUMENTS WOULD BE MADE AVAILABLE AS APPROPRIATE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>FORM 990, PART XI, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE REVIEW PROCESSING REMAINS THE SAME AS THE PRIOR YEAR.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc1043400001">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>BETTER OPPORTUNITIES BUILDER INC</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>PO BOX 11863</AddressLine1>
          <City>FRESNO</City>
          <State>CA</State>
          <ZIPCode>937751863</ZIPCode>
        </AddressUS>
        <EIN>770076261</EIN>
        <PrimaryActivities>LOW-INCOME HOUSING</PrimaryActivities>
        <LegalDomicileState>CA</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>LINE 9</PublicCharityStatus>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ControlledOrg>0</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartIII>
        <NameOfRelatedOrg>
          <BusinessNameLine1>SANGER SENIORS LIMITED PARTNERSHIP</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>PO BOX 11863</AddressLine1>
          <City>FRESNO</City>
          <State>CA</State>
          <ZIPCode>937751863</ZIPCode>
        </AddressUS>
        <EIN>760729798</EIN>
        <PrimaryActivity>RENTAL REAL ESTATE</PrimaryActivity>
        <LegalDomicileState>CA</LegalDomicileState>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ShareOfTotalIncome>-5</ShareOfTotalIncome>
        <ShareOfEOYAssets>26833</ShareOfEOYAssets>
        <DisproportionateAllocations>1</DisproportionateAllocations>
        <GeneralOrManagingPartner>1</GeneralOrManagingPartner>
        <PercentageOwnership>0.00010</PercentageOwnership>
      </Form990ScheduleRPartIII>
      <Form990ScheduleRPartIII>
        <NameOfRelatedOrg>
          <BusinessNameLine1>FRESNO RENAISSANCE AT TRINITY LP</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>PO BOX 11863</AddressLine1>
          <City>FRESNO</City>
          <State>CA</State>
          <ZIPCode>937751863</ZIPCode>
        </AddressUS>
        <EIN>273039716</EIN>
        <PrimaryActivity>RENTAL REAL ESTATE</PrimaryActivity>
        <LegalDomicileState>CA</LegalDomicileState>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ShareOfTotalIncome>-15</ShareOfTotalIncome>
        <ShareOfEOYAssets>19160</ShareOfEOYAssets>
        <DisproportionateAllocations>1</DisproportionateAllocations>
        <GeneralOrManagingPartner>1</GeneralOrManagingPartner>
        <PercentageOwnership>0.00010</PercentageOwnership>
      </Form990ScheduleRPartIII>
      <Form990ScheduleRPartIII>
        <NameOfRelatedOrg>
          <BusinessNameLine1>YEC LIMITED</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>PO BOX 11863</AddressLine1>
          <City>FRESNO</City>
          <State>CA</State>
          <ZIPCode>937751863</ZIPCode>
        </AddressUS>
        <EIN>352292287</EIN>
        <PrimaryActivity>RENTAL REAL ESTATE</PrimaryActivity>
        <LegalDomicileState>CA</LegalDomicileState>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ShareOfTotalIncome>-14</ShareOfTotalIncome>
        <ShareOfEOYAssets>43184</ShareOfEOYAssets>
        <DisproportionateAllocations>1</DisproportionateAllocations>
        <GeneralOrManagingPartner>1</GeneralOrManagingPartner>
        <PercentageOwnership>0.00010</PercentageOwnership>
      </Form990ScheduleRPartIII>
      <Form990ScheduleRPartIII>
        <NameOfRelatedOrg>
          <BusinessNameLine1>FRESNO PACIFIC GARDENS LP</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>PO BOX 11863</AddressLine1>
          <City>FRESNO</City>
          <State>CA</State>
          <ZIPCode>937751863</ZIPCode>
        </AddressUS>
        <EIN>273770725</EIN>
        <PrimaryActivity>RENTAL REAL ESTATE</PrimaryActivity>
        <LegalDomicileState>CA</LegalDomicileState>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ShareOfTotalIncome>-29</ShareOfTotalIncome>
        <ShareOfEOYAssets>35799</ShareOfEOYAssets>
        <DisproportionateAllocations>1</DisproportionateAllocations>
        <GeneralOrManagingPartner>1</GeneralOrManagingPartner>
        <PercentageOwnership>0.00010</PercentageOwnership>
      </Form990ScheduleRPartIII>
      <Form990ScheduleRPartIII>
        <NameOfRelatedOrg>
          <BusinessNameLine1>FRESNO RENAISSANCE AT ALTA MONTE LP</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>PO BOX 11863</AddressLine1>
          <City>FRESNO</City>
          <State>CA</State>
          <ZIPCode>937751863</ZIPCode>
        </AddressUS>
        <EIN>453263681</EIN>
        <PrimaryActivity>RENTAL REAL ESTATE</PrimaryActivity>
        <LegalDomicileState>CA</LegalDomicileState>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ShareOfTotalIncome>-19</ShareOfTotalIncome>
        <ShareOfEOYAssets>28292</ShareOfEOYAssets>
        <DisproportionateAllocations>1</DisproportionateAllocations>
        <CodeVAmount>7</CodeVAmount>
        <GeneralOrManagingPartner>1</GeneralOrManagingPartner>
        <PercentageOwnership>0.00010</PercentageOwnership>
      </Form990ScheduleRPartIII>
      <Form990ScheduleRPartIII>
        <NameOfRelatedOrg>
          <BusinessNameLine1>1555 SANTA CLARA STREET LP</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>PO BOX 11863</AddressLine1>
          <City>FRESNO</City>
          <State>CA</State>
          <ZIPCode>937751863</ZIPCode>
        </AddressUS>
        <EIN>453337736</EIN>
        <PrimaryActivity>RENTAL REAL ESTATE</PrimaryActivity>
        <LegalDomicileState>CA</LegalDomicileState>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ShareOfTotalIncome>-25</ShareOfTotalIncome>
        <ShareOfEOYAssets>46875</ShareOfEOYAssets>
        <DisproportionateAllocations>1</DisproportionateAllocations>
        <CodeVAmount>10</CodeVAmount>
        <GeneralOrManagingPartner>1</GeneralOrManagingPartner>
        <PercentageOwnership>0.00010</PercentageOwnership>
      </Form990ScheduleRPartIII>
      <Form990ScheduleRPartIII>
        <NameOfRelatedOrg>
          <BusinessNameLine1>KERMAN ACRE LP</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>PO BOX 11863</AddressLine1>
          <City>FRESNO</City>
          <State>CA</State>
          <ZIPCode>937751863</ZIPCode>
        </AddressUS>
        <EIN>800427598</EIN>
        <PrimaryActivity>RENTAL REAL ESTATE</PrimaryActivity>
        <LegalDomicileState>CA</LegalDomicileState>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ShareOfTotalIncome>-12684</ShareOfTotalIncome>
        <ShareOfEOYAssets>20478</ShareOfEOYAssets>
        <DisproportionateAllocations>1</DisproportionateAllocations>
        <GeneralOrManagingPartner>1</GeneralOrManagingPartner>
        <PercentageOwnership>0.00010</PercentageOwnership>
      </Form990ScheduleRPartIII>
      <Form990ScheduleRPartIII>
        <NameOfRelatedOrg>
          <BusinessNameLine1>CLOVIS SENIORS LIMITED</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>PO BOX 11863</AddressLine1>
          <City>FRESNO</City>
          <State>CA</State>
          <ZIPCode>937751863</ZIPCode>
        </AddressUS>
        <PrimaryActivity>RENTAL REAL ESTATE</PrimaryActivity>
        <LegalDomicileState>CA</LegalDomicileState>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <DisproportionateAllocations>1</DisproportionateAllocations>
        <GeneralOrManagingPartner>1</GeneralOrManagingPartner>
      </Form990ScheduleRPartIII>
      <Form990ScheduleRPartIII>
        <NameOfRelatedOrg>
          <BusinessNameLine1>PARC GROVE COMMONS II LP</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>PO BOX 11863</AddressLine1>
          <City>FRESNO</City>
          <State>CA</State>
          <ZIPCode>937751863</ZIPCode>
        </AddressUS>
        <PrimaryActivity>RENTAL REAL ESTATE</PrimaryActivity>
        <LegalDomicileState>CA</LegalDomicileState>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <DisproportionateAllocations>1</DisproportionateAllocations>
        <GeneralOrManagingPartner>1</GeneralOrManagingPartner>
      </Form990ScheduleRPartIII>
      <ReceiptOfIntAnnRentsRoyalties>0</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>1</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>0</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>0</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>0</LoansOrGuaranteesFromOtherOrg>
      <DividendsRelatedOrganization>0</DividendsRelatedOrganization>
      <SaleOfAssetsToOtherOrg>0</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>0</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>0</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>0</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>0</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>0</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>0</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>0</SharingOfFacilities>
      <SharingOfPaidEmployees>0</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>0</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>0</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>0</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>0</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>BETTER OPPORTUNITIES BUILDER INC</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>B</TransactionType>
        <AmountInvolved>273601</AmountInvolved>
        <MethodOfAmtDetermination>CASH BASIS DONATION</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>