3. Related Party Transactions

9 Months Ended

Dec. 31, 2018

Under the terms of the Partnership Agreement, the Partnership has paid or is obligated to the General Partner or its affiliates for the following fees:

(a)

An annual asset management fee not to exceed 0.5% of the invested assets of the Partnership, as defined. “Invested Assets” means the sum of the Partnership’s investment in Local Limited Partnership interests and the Partnership’s allocable share of mortgage loans on and other debts related to the Housing Complexes owned by such Local Limited Partnerships. Asset management fees of $20,842 and $40,871 were incurred during the nine months ended December 31, 2018 and 2017, respectively. The Partnership paid the General Partner and its affiliates $0 and $49,200 during the nine months ended December 31, 2018 and 2017, respectively.

(b)

A subordinated disposition fee in an amount equal to 1% of the sale price of real estate sold by the Local Limited Partnerships. Payment of this fee is subordinated to the Limited Partners receiving distributions equal to their capital contributions and their return on investment (as defined in the Partnership Agreement) and is payable only if services are rendered in the sales effort. No such fee was incurred for all periods presented.

(c)	The Partnership reimburses the General Partner or its affiliates for operating expenses incurred on behalf of the Partnership. Operating expense reimbursements paid were $82,000 and $30,000 during the nine months ended December 31, 2018 and 2017, respectively.

The accrued fees and expenses due to General Partner and affiliates consisted of the following at:

	December 31, 2018		March 31, 2018

Asset management fee payable	$	1,060,682	$	1,039,840
Expenses paid by the General Partner or an affiliate on behalf of the Partnership		47,224		77,055
Total	$	1,107,906	$	1,116,895

The General Partner and/or its affiliates do not anticipate that these accrued fees will be paid in full until such time as capital reserves are in excess of future foreseeable working capital requirements of the Partnership.

WNC HOUSING TAX CREDIT FUND VI LP SERIES 10 10-Q