UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

x	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2009
For the quarterly period ended March 31, 2010
or
o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____ to _____

Commission File Number: 0-25430

RIDGEWOOD ELECTRIC POWER TRUST IV

(Exact Name of Registrant as Specified in Its Charter)

Delaware		22-3324608
(State or Other Jurisdiction of Incorporation or Organization)		(I.R.S. Employer Identification No.)

1314 King Street, Wilmington, DE		19801
(Address of Principal Executive Offices)		(Zip Code)

	(302) 888-7444
	(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes xþ No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes o No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See ~~definition~~ the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer o Accelerated filer o Non-accelerated filer o Smaller reporting company xþ (Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No þ

~~Yes o No~~As xof April 30, 2010, there were 476.8 Investor Shares outstanding.

As of October 31, 2009, there were 476.8 Investor Shares outstanding.

Table of Contents

FORM 10-Q

TABLE OF CONTENTS

PART I.	FINANCIAL INFORMATION	Page
Item 1.	Financial Statements	1
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	98
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	119
Item 4.	Controls and Procedures	1110
PART II.	OTHER INFORMATION
Item 1.	Legal Proceedings	1210
Item 1A.	Risk Factors	1210
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	1210
Item 3.	Defaults Upon Senior Securities	1210
Item 4.	~~Submission of Matters to a Vote of Security Holders~~Reserved	1210
Item 5.	Other Information	1210
Item 6.	Exhibits	1210
SIGNATURES		1311

Table of Contents

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

RIDGEWOOD ELECTRIC POWER TRUST IV
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share data)
	September 30,			December 31,
	March 31,			December 31,
	2009			2008
	2010			2009
	(unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	7,~~666~~694		$	117,~~683~~804
Unbilled receivables		-			6,572
Due from affiliates		408			606
Other receivable		-			6,461
Prepaid expenses and other current assets		56			24
Security deposits		-			2,345
Total current assets		8,158			8,434
Due from affiliates		329			-
Investment		1,264			2,001
Prepaid expenses and other current assets		33			108
Total assets	$	9,422		$	10,435
Total current assets		8,028			27,169
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)
Investments		3,860			6,458
Total assets	$	11,888		$	33,627
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses	$	9772		$	~~1,194~~98
Due to Indeck Energy Services		-			7,828
Due to affiliates		4			-
Due to affiliates		199			2,771
Total liabilities		76			98
Total liabilities		296			11,793
Commitments and contingencies
Shareholders’ equity (deficit):
Shareholders’ equity (476.8 Investor Shares
issued and outstanding)		119,~~744~~521			2110,~~884~~502
Managing Shareholder’s accumulated deficit
(1 management share issued and outstanding)		(~~152~~175	)		(50165	)
Total shareholders’ equity		119,~~592~~346			2110,~~834~~337
Total liabilities and shareholders’ equity	$	119,~~888~~422		$	3310,~~627~~435

The accompanying notes are an integral part of these condensed consolidated financial statements.

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RIDGEWOOD ELECTRIC POWER TRUST IV
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited, in thousands, except per share data)
	Nine Months Ended September 30,						Three Months Ended September 30,
	Three Months Ended March 31,
	2009			2008			2009			2008
	2010			2009
Power generation revenue	$	-		$	5,888		$	-		$	1,923
Operating expenses:
Renewable attribute revenue		-			1,363			-			95
General and administrative expenses	$	179		$	285
Total revenues		-			7,251			-			2,018
Management fee to Managing Shareholder		78			164
Cost of revenues		-			6,407			-			1,880
Total operating expenses		257			449
Gross profit		-			844			-			138
Loss from operations		(257	)		(449	)
Operating expenses:
Other (expense) income:
General and administrative expenses		526			3,043			83			1,423
Equity in loss of RILG		(737	)		(533	)
Management fee to Managing Shareholder		491			395			163			132
Equity in loss of Maine Hydro		-			(107	)
Total operating expenses		1,017			3,438			246			1,555
Other income, net		3			276
Loss from operations		(1,017	)		(2,594	)		(246	)		(1,417	)
Total other expense, net		(734	)		(364	)
Other (expense) income:
Net loss	$	(991	)	$	(813	)
Equity in loss of RILG		(2,137	)		-			(1,033	)		-
Managing Shareholder – Net loss	$	(10	)	$	(8	)
Equity in (loss) income of Maine Hydro		(231	)		828			(139	)		(22	)
Shareholders – Net loss		(981	)		(805	)
Equity in income of Indeck Maine		-			1,560			-			1,036
Net loss per Investor Share		(2,057	)		(1,688	)
Interest income, affiliates		-			324			-			115
Distributions per Investor Share		-			15,000
Other income (expense), net		367			(15	)		(8	)		(15	)
Total other (expense) income, net		(2,001	)		2,697			(1,180	)		1,114
Net (loss) income		(3,018	)		103			(1,426	)		(303	)
Net loss attributable to noncontrolling interest		-			424			-			265
Net (loss) income attributable to Trust	$	(3,018	)	$	527		$	(1,426	)	$	(38	)
Managing Shareholder – Net (loss) income	$	(30	)	$	5		$	(14	)	$	(1	)
Shareholders – Net (loss) income		(2,988	)		522			(1,412	)		(37	)
Net (loss) income per Investor Share		(6,267	)		1,096			(2,962	)		(77	)
Distributions per Investor Share		15,000			-			-			-

The accompanying notes are an integral part of these condensed consolidated financial statements.

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RIDGEWOOD ELECTRIC POWER TRUST IV
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, in thousands)
	Nine Months Ended September 30,
	Three Months Ended March 31,
	2009			2008
	2010			2009
Cash flows from operating activities:
Net (loss) income attributable to Trust	$	(3,018	)	$	527
Net cash (used in) provided by operating activities	$	(110	)	$	2,219
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization		-			1,046
Interest income on notes receivable		-			(303	)
Net loss attributable to noncontrolling interest		-			(424	)
Equity interest in loss (income) of:
RILG		2,137			-
Maine Hydro		231			(828	)
Indeck Maine		-			(1,560	)
Cash distributions from RILG		230			-
Cash distributions from Maine Hydro		-			888
Changes in operating assets and liabilities:
Accounts receivable		-			688
Unbilled receivables		6,572			-
Other receivable		6,461			-
Security deposits		2,345			(3,059	)
Prepaid expenses and other current assets		75			(177	)
Accounts payable and accrued expenses		(1,097	)		170
Due to Indeck Energy Services		(7,828	)		-
Due to/from affiliates, net		(2,901	)		(30	)
Total adjustments		6,225			(3,589	)
Net cash provided by (used in) operating activities		3,207			(3,062	)
Cash flows from financing activities:
Proceeds from loan payable to affiliate		-			3,000
Cash distributions to shareholders		-			(7,224	)
Cash distributions to noncontrolling interest		-			(500	)
Net decrease in cash and cash equivalents		(110	)		(5,005	)
Cash distributions to shareholders		(7,224	)		-
Cash and cash equivalents, beginning of year		7,804			11,683
Net cash (used in) provided by financing activities		(7,224	)		2,500
Cash and cash equivalents, end of period	$	7,694		$	6,678
Net decrease in cash and cash equivalents		(4,017	)		(562	)
Cash and cash equivalents, beginning of period		11,683			781
Cash and cash equivalents, end of period	$	7,666		$	219

The accompanying notes are an integral part of these condensed consolidated financial statements.

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RIDGEWOOD ELECTRIC POWER TRUST IV

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited, dollar amounts in thousands)

1. DESCRIPTION OF BUSINESS

Ridgewood Electric Power Trust IV (the “Trust”) is a Delaware trust formed inon September 8, 1994. The Trust began offering shares in February 1995 and concluded its offering in September 1996. The objective of the Trust is to provide benefits to its shareholders through a combination of distributions of operating cash flow and capital appreciation. The Managing Shareholder of the Trust is Ridgewood Renewable Power LLC, a New Jersey limited liability company (the “Managing Shareholder” or “RRP”). The Trust has been organized to invest primarily in power generation facilities located in the US. The projects ~~owned~~of by the Trust have characteristics that qualify the projects for government incentives.

The Trust’s accompanying condensed consolidated financial statements include the accounts of the Trust. The Trust’s condensed consolidated financial statements also include the Trust’s 35.24% interest in Rhode Island LFG Genco, LLC (“RILG”), ~~effective November 17, 2008, and its 50% interest in Ridgewood Maine Hydro Partners, L.P. (“Maine Hydro”),~~ which ~~are~~is accounted for under the equity method of accounting, as the Trust has the ability to exercise significant influence but does not control the operating and financial policies of ~~these investments~~the investment. The Trust owned a 2550% interest in ~~Indeck~~Ridgewood Maine ~~Energy~~Hydro Partners, ~~LLC~~ L.P. (“~~Indeck~~ Maine Hydro”), ~~accounted~~which ~~for~~was ~~under~~sold ~~the~~in ~~equity~~November ~~method of accounting~~2009, ~~which~~as ~~was sold~~further discussed in ~~December~~Note ~~2008~~5.

~~Prior~~The ~~to November~~Managing ~~17,~~Shareholder ~~2008,~~is ~~the~~marketing ~~Trust~~RILG ~~owned~~for ~~a 64.3% interest in Ridgewood Providence Power Partners~~sale, ~~L.P.~~which ~~(“Ridgewood~~represents ~~Providence”) and~~ the only remaining ~~35.7% interest~~ ~~was~~investment ~~owned by Ridgewood Electric Power Trust III (“Trust III”). On November 17, 2008, the Trust and Trust III entered directly or indirectly, through one or more subsidiaries, into a series~~ of ~~agreements relating to Ridgewood Providence’s operations. The principal purpose of these agreements was to consolidate~~ the ~~Rhode Island landfill activities owned by the~~ Trust~~, Ridgewood Electric Power Trust I (“Trust I”), Trust III and Ridgewood Power B Fund/Providence Expansion (“B Fund”) under one entity, RILG~~. As aThe ~~result~~Managing ofShareholder ~~the~~cannot ~~completion~~predict of the ~~transaction,~~timing ~~the Trust, Trust I, Trust III and B Fund own all~~ of the ~~equity~~sale ~~interests in RILG. The Trust contributed its 64.3% interest in Ridgewood Providence in exchange for its 35.24% interest in RILG.~~process ~~Effective~~or ~~November~~whether ~~17,~~any ~~2008,~~sale ~~the~~will ~~Trust’s interest in RILG is accounted for under the equity method of accounting and therefore, the Trust no longer consolidates the assets, liabilities, revenues and expenses of Ridgewood Providence~~occur.

The ~~Managing~~ ~~Shareholder~~Trust ishas ~~marketing~~evaluated ~~RILG~~subsequent events and ~~Maine~~transactions ~~Hydro~~through ~~for~~the ~~sale,~~date ~~which~~of ~~represent~~ the ~~only~~issuance ~~remaining~~of ~~investments~~its offinancial ~~the~~statements, ~~Trust.~~and ~~The~~concluded ~~Managing~~that ~~Shareholder~~there ~~cannot predict~~were ~~the~~no ~~timing~~such ofevents ~~the~~or ~~sale~~transactions ~~process~~that require adjustment to, ~~the~~or ~~terms~~disclosure ofin ~~any~~the ~~sale or~~notes ~~whether any~~to, ~~sales~~the ~~will~~condensed ~~occur~~consolidated financial statements.

2. BASIS OF PRESENTATION

The accompanying condensed consolidated financial statements are unaudited and have been prepared pursuant to the rules of the United States Securities and Exchange Commission (the “SEC”) and, in the opinion of management, include all adjustments that are necessary for a fair presentation of the consolidated financial statements. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to SEC rules. These condensed consolidated financial statements should be read in conjunction with the Trust’s Annual Report on Form 10-K for the year ended December 31, ~~2008~~ 2009, filed with the SEC on ~~April~~March 325, ~~2009~~2010 (the “~~2008~~2009 Form 10-K”). No significant changes have been made to the Trust’s accounting policies and estimates disclosed in its ~~2008~~2009 Form 10-K.

In the opinion of management, the condensed consolidated financial statements as of ~~September~~ 30March 31, ~~2009~~2010, and for the ~~nine and~~ three months ended ~~September~~March 3031, ~~2009~~ 2010 and ~~2008~~2009, include all adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the consolidated financial position, results of operations and cash flows for the periods presented. The results of operations for the ~~nine and~~ three months ended ~~September~~March 3031, ~~2009~~2010 and ~~2008~~2009, are not necessarily indicative of the results to be expected for the full year or any other period.

The Trust has evaluated subsequent events and transactions through November 9, 2009, the date of the issuance of its financial statements, and concluded that there were no such events or transactions that require adjustment to, or disclosure in the notes to, the condensed consolidated financial statements.

3. RECENT ACCOUNTING PRONOUNCEMENTS

Fair Value Measurements

In ~~February~~ ~~2008~~January 2010, the Financial Accounting Standards Board (“FASB”) ~~issued~~amended its previous guidance ~~which~~ ~~delayed~~to ~~the~~clarify ~~effective~~and ~~date~~provide ofadditional ~~fair~~disclosure ~~value~~requirements ~~measurements~~relating ~~for~~to ~~non-financial assets~~recurring and non-~~financial~~recurring ~~liabilities~~fair ~~for~~value ~~the~~measurements ~~Trust~~and ~~until~~employers’ ~~January~~disclosures 1,about ~~2009,~~postretirement ~~except for~~benefit ~~items~~plan ~~that~~assets ~~are~~in ~~recognized~~order orto ~~disclosed~~provide atgreater ~~fair~~level ~~value~~of indisaggregated ~~the~~information ~~financial statements~~and onmore arobust ~~recurring~~disclosures ~~basis~~about valuation techniques and inputs to fair value measurements. The Trust adopted ~~this~~these ~~guidance~~amended ~~effective January~~standards on January 1, ~~2009~~2010, with no material impact on its condensed consolidated financial statements. Additionally, these amended standards require presentation of disaggregated activity within the reconciliation for fair value measurements using significant unobservable inputs (Level 3), beginning in the first quarter of 2011. The Trust’s is currently evaluating the impact of adopting this guidance on its condensed consolidated financial statements.

Subsequent Events

In May 2009, the FASB issued guidance regarding subsequent events which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued or are available to be issued. It requires the disclosure of the date through which an entity has evaluated subsequent events and the basis for that date. The Trust adopted this guidance effective June 30, 2009, with no material impact on its consolidated financial statements. In February 2010, the FASB amended its previous guidance regarding subsequent events by removing the requirement for a registrant to disclose a date through which subsequent events have been evaluated.

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RIDGEWOOD ELECTRIC POWER TRUST IV

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited, dollar amounts in thousands)

In April 2009, the FASB issued additional guidance relating to factors to consider in estimating fair value when there has been a significant decrease in market activity for a financial asset. The Trust adopted this guidance effective June 30, 2009, with no material impact on the Trust’s condensed consolidated financial statements.

In August 2009, the FASB amended its previous guidance regarding the fair value measurements and disclosures in order to reduce potential uncertainty in financial reporting when measuring the fair value of liabilities. The Trust adopted this guidance effective September 30, 2009, with no material impact on the Trust’s condensed consolidated financial statements.

Noncontrolling Interests in Consolidated Financial Statements

In December 2007, the FASB issued guidance regarding noncontrolling interests in consolidated financial statements, which requires that ownership interests in subsidiaries held by parties other than the parent, and the amount of consolidated net income attributable to noncontrolling interests, be clearly identified, labeled, and presented in the consolidated financial statements within equity, but separate from the parent’s equity. It also requires that once a subsidiary is deconsolidated, any retained noncontrolling equity investment in the former subsidiary be initially measured at fair value. Sufficient disclosures are required to clearly identify and distinguish between the interests of the parent and the interests of the noncontrolling owners. This guidance became effective for the Trust beginning January 1, 2009. Except for the presentation and disclosure requirements, which are applied retrospectively for all periods presented subsequent to the adoption, the adoption of this guidance had no material impact on the Trust’s condensed consolidated financial statements.

Subsequent Events

In May 2009, the FASB issued guidance regarding subsequent events which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued or are available to be issued. It requires the disclosure of the date through which an entity has evaluated subsequent events and the basis for that date. The Trust adopted this guidance effective June 30, 2009, with no material impact on the Trust’s condensed consolidated financial statements.

Consolidation of Variable Interest Entities

In June 2009, the FASB amended previous guidance regarding the consolidation of variable interest entities (“VIEs”). This guidance eliminates exceptions to consolidating qualifying special-purpose entities, contains new criteria for determining the primary beneficiary, and increases the frequency of required reassessments to determine whether a company is the primary beneficiary of a ~~variable interest entity~~VIE. This guidance also contains a new requirement that any term, transaction, or arrangement that does not have a substantive effect on an entity’s status as a ~~variable interest entity~~VIE, a company’s power over a ~~variable interest entity~~VIE, or a company’s obligation to absorb losses or its right to receive benefits of an entity must be disregarded in applying the guidance to consolidation of ~~variable~~a ~~interest entities~~VIE. ~~This~~The ~~guidance~~Trust ~~will~~adopted ~~become~~this guidance effective ~~for~~ ~~the Trust beginning~~ January 1, 2010., ~~The~~with ~~Trust~~no ismaterial ~~currently evaluating the~~ impact ~~of adopting this guidance~~ on its condensed consolidated financial statements.

In December 2009, the FASB ~~Accounting~~ ~~Standards~~amended ~~Codification~~its previous guidance issued in June 2009 regarding the consolidation of VIE. The amended guidance replaces the quantitative-based risks and rewards calculation for determining which reporting entity, if any, has a controlling financial interest in a VIE with an approach focused on identifying which reporting entity has the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (1) the obligation to absorb losses of the entity or (2) the right to receive benefits from the entity. This amendment also requires additional disclosures about a reporting entity’s involvement with VIEs. The Trust adopted this guidance effective January 1, 2010, with no material impact on its condensed consolidated financial statements.

In June 2009, the FASB announced the FASB Accounting Standards Codification (the “Codification”) as the single source of authoritative non-governmental GAAP superseding existing codification from the FASB, American Institute of Certified Public Accountants, Emerging Issues Task Force, and related accounting literature. Effective September 30, 2009, the Codification superseded all existing non-SEC accounting and reporting standards and all other non-grandfathered non-SEC accounting literature not included in the Codification became non-authoritative. The Trust adopted the Codification with no material impact on its condensed consolidated financial statements.

4. CASH AND CASH EQUIVALENTS

The Trust considers all highly liquid investments with maturities, when purchased, of three months or less as cash and cash equivalents. At ~~September~~March 3031, ~~2009~~2010, cash and cash equivalents exceeded federal insured limits by $7,~~250~~195, all of which was invested either in US Treasury bills or money market accounts that invest solely in US government securities.

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RIDGEWOOD ELECTRIC POWER TRUST IV

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited, dollar amounts in thousands)

5. INVESTMENTS

RILG

Summarized statements of operations data for RILG for the ~~nine and~~ three months ended ~~September~~ 30March 31, 2010 and 2009 were as follows:

	Nine Months Ended			Three Months Ended
	2010			2009
	September 30, 2009			September 30, 2009
Revenues	$	2,236		$	3,715
Revenues	$	10,401		$	3,429
Gross loss		(1,198	)		(341	)
Gross loss		(2,112	)		(756	)
Loss from operations		(2,091	)		(1,512	)
Loss from operations		(6,059	)		(2,930	)
Net loss		(2,091	)		(1,513	)
Net loss		(6,063	)		(2,931	)
Trust share of loss in RILG		(737	)		(533	)
Trust share of loss in RILG		(2,137	)		(1,033	)

~~Operating performance~~On November 3, 2009, RILG received notice from the United States Department of ~~Ridgewood~~Energy ~~Providence~~that ~~for~~it had been awarded a grant of $15,000 towards development expenses relating to RILG expansion. While the ~~nine~~grant has not been finalized and ~~three~~as ~~months~~a ~~ended September~~result, 30the terms of the grant is not presently determinable, ~~2008~~this grant is ~~consolidated~~expected ~~into~~to ~~the~~cover ~~operating~~approximately ~~results~~15% of the ~~Trust~~eligible ~~for these~~expenses. ~~periods~~As ~~with~~of ~~$424~~March ~~and~~31, ~~$265~~2010, ~~respectively~~RILG recorded $72 of grant revenue, ~~attributed~~which tois included in the ~~noncontrolling interest~~revenues ~~held~~in bythe ~~Trust~~above ~~III~~table.

During the third quarter of 2009, RILG recorded an impairment charge of $1,207 due to the decision made by the Managing Shareholder not to repair certain long-lived assets that were taken out of service for non-performance. As this equipment has only nominal salvage value, upon determination that the assets would not be restored to an operating status, their asset value was written off. The Trust’s share of the impairment charge was included in equity loss in RILG in the accompanying condensed consolidated statements of operations.5

Maine Hydro

Maine Hydro is owned equally by the Trust and Ridgewood Electric Power Trust V (“Trust V”). Summarized statements of operations data for Maine Hydro for the nine and three months ended September 30, 2009 and 2008 were as follows:

	Nine Months Ended September 30,					Three Months Ended September 30,
	2009			2008		2009			2008
Revenues	$	2,045		$	4,081	$	470		$	907
Gross profit (loss)		336			2,055		(166	)		193
(Loss) income from operations		(462	)		1,656		(278	)		(43	)
Net (loss) income		(462	)		1,656		(278	)		(43	)
Trust share of (loss) income in Maine Hydro		(231	)		828		(139	)		(22	)

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RIDGEWOOD ELECTRIC POWER TRUST IV

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited, dollar amounts in thousands)

~~Indeck~~ Maine Hydro

~~On December~~Maine ~~22,~~Hydro ~~2008,~~was ~~the~~owned ~~owners~~equally ofby ~~Indeck~~the ~~Maine~~Trust ~~sold~~and ~~their~~Ridgewood ~~interests~~Electric toPower ~~Covanta Energy~~Trust ~~Corporation~~V (“~~Covanta~~Trust V”). ~~Immediately~~On ~~prior~~November to20, ~~the sale in 2008~~2009, ~~Indeck~~ Maine ~~transferred~~Hydro toentered into a ~~wholly-owned~~purchase ~~subsidiary~~and ofsale ~~the~~agreement ~~Trust,~~and ~~specific~~sold ~~accounts receivable,~~all ~~deposits~~of ~~and~~its ~~rights~~assets tofor ~~future~~ cash ~~flows~~. AsThe ~~these~~total ~~amounts were collected,~~gross inpurchase ~~accordance~~price ~~with~~of ~~an agreement between~~ the ~~Trust~~sale, ~~Trust~~ Vincluding ~~and Indeck~~a ~~Energy~~post-closing ~~Services,~~adjustment ~~Inc.~~made ~~(“IES”),~~in ~~45% was~~2010 ~~distributed~~for toestimated ~~IES,~~working ~~27.5% distributed~~capital toat ~~Trust~~the Vtime ~~and~~of the ~~Trust retained~~sale, ~~the~~totaled ~~other~~$7,293, ~~27.5%. As~~ of ~~June~~ 30which $3,646 was allocated to the Trust. In 2009, the ~~entire amount~~Trust ~~that~~recorded ~~were~~a ~~due~~gain toof ~~Trust~~$2,158 Von ~~and IES~~the ~~under~~sale ~~these~~of ~~arrangements had~~Maine ~~been distributed~~Hydro.

Summarized ~~statements~~statement of operations data for ~~Indeck~~ Maine Hydro for the ~~nine and~~ three months ended ~~September~~March 3031, ~~2008~~ 2009 were as follows:

	Nine Months Ended			Three Months Ended
Revenues	$	803
	September 30, 2008			September 30, 2008
Gross profit		331
Revenues	$	32,094		$	10,929
Loss from operations		(215	)
Gross profit		5,294			2,635
Net loss		(215	)
Income from operations		4,683			2,608
Trust share of loss in Maine Hydro		(107	)
Net income		3,554			2,222
Trust share of income in Indeck Maine		1,560			1,036

The Trust assigned the excess purchase price over the net assets acquired to fixed assets. The Trust depreciated the fixed assets over their remaining useful lives using the unit of production method. Depreciation expense of $217 and $75 for the nine and three months ended September 30, 2008, respectively, was included in the equity income from Indeck Maine in the condensed consolidated statements of operations.

6. TRANSACTIONS WITH AFFILIATES

The Trust records short-term payables to and receivables from certain of its affiliates in the ordinary course of business. The amounts payable to and receivable from its affiliates, other than amounts relating to management fees, do not bear interest. At ~~September~~March 3031, ~~2009~~2010 and December 31, ~~2008~~2009, the Trust had outstanding intercompany receivables of $408 and ~~payables~~$606, asrespectively, ~~follows:~~primarily due from RILG.

	Due From		Due To
	September 30, 2009		September 30, 2009		December 31, 2008
Ridgewood Power Management LLC	$	-	$	2	$	20
Ridgewood Renewable Power LLC		-		-		8
Trust V		-		-		2,570
RILG		329		-		171
Maine Hydro		-		197		2
	$	329	$	199	$	2,771

7. COMMITMENTS AND CONTINGENCIES

~~Effective July~~RILG ~~20,~~is ~~2009~~obligated, under the ~~U.S.~~terms ~~National~~of ~~Oceanic~~various ~~and~~agreements ~~Atmospheric~~with ~~Administration~~Rhode Island Resource Recovery Corporation (“~~NOAA~~RIRRC”) ~~and~~, the ~~U.S.~~owner ~~Fish~~ and ~~Wildlife~~operator ~~Service~~of ~~(“USFWS”)~~the ~~extended~~Landfill, ~~Endangered~~to ~~Species~~construct ~~Act protections~~a ~~for~~new ~~Atlantic~~electric ~~salmon~~generating byfacility ~~defining~~at the ~~territory~~Landfill inand ~~which~~to ~~Atlantic salmon~~assume isprimary ~~considered~~responsibility ~~endangered~~for ~~species~~costs ~~and~~associated inwith ~~which~~the ~~their~~landfill ~~habitat~~gas iscollection ~~protected. Management~~system ~~has~~at ~~assessed~~ the ~~fifteen~~Landfill ~~dams~~as ~~owned~~of bythe ~~Maine~~first ~~Hydro~~to ~~and~~occur ~~determined that~~of ~~eight~~the commencement of ~~these~~operation ~~dams~~of ~~may~~a benew ~~affected~~electric atgenerating ~~some~~facility ~~future~~or ~~time~~June 1, 2013. ~~One~~RILG ofis also responsible for the ~~next steps~~development ~~expected~~and toconstruction beof ~~taken~~a bysulfur ~~NOAA~~treatment ~~and~~facility ~~USFWS~~on isthe Landfill and the ~~development~~construction of ~~habitat conservation~~new ~~plans~~pipes toand ~~protect~~headers. The ~~Atlantic~~cost ~~salmon~~of inbuilding ~~this~~and ~~defined~~operating ~~territory.~~the ~~The time~~sulfur ~~for~~treatment ~~NOAA~~facility and ~~USFWS~~the topipes ~~finalize~~and ~~such~~headers ~~plans~~ is ~~unknown~~estimated to be approximately $5,000. The ~~These~~cost ~~plans~~of ~~could require~~the ~~Maine~~sulfur ~~Hydro~~treatment ~~and~~facility ~~other~~will ~~dam~~be ~~owners~~split ~~throughout~~equally between RILG and RIRRC and the ~~affected~~entire ~~area~~cost ~~to demonstrate~~associated ~~that,~~with ifthe ~~Atlantic~~construction ~~salmon~~of ~~have~~pipes ~~been~~and ~~seen~~headers atwill abe ~~dam~~paid by RILG. In addition, ~~existing~~the ~~fish passage~~cost isof ~~effective~~new toflares ~~allow~~on ~~those~~the ~~salmon~~Landfill towill ~~pass~~be ~~the~~borne ~~dam. As~~by aRIRRC, ~~result~~but in certain circumstances, ~~Maine~~ ~~Hydro~~the costs may be ~~required~~shared with RILG. If RILG fails to ~~install~~comply ~~effective~~with ~~fish~~these ~~passage~~obligations, ~~measures~~it orcould be subject to ~~take~~ ~~other~~monetary ~~corrective~~damages ~~actions~~and also forfeit its contracted gas rights. AtWhile the ~~present~~full ~~time~~cost of the expansion activities is not yet known, it is the opinion of the Managing Shareholder ~~is unable~~that toRILG ~~determine~~has ~~the~~insufficient ~~cost~~capital to ~~implement~~meet ~~such~~all ~~measures,~~of ifits ~~required,~~obligations orto ~~when NOAA~~expand ~~and~~its ~~USFWS~~Landfill ~~may~~operations. ~~require~~As ~~them.~~a ~~Depending~~result, onfor the ~~final~~development ~~requirements~~efforts ofto ~~such plans~~be completed, ~~the~~RILG ~~cost~~must ofeither ~~compliance~~be ~~could~~sold ~~exceed~~to entities that can invest in the ~~value~~development of ~~the~~these ~~affected hydro~~projects or obtain third-~~electric~~party ~~facilities.~~financing ~~Until~~to ~~such~~perform ~~time~~its asduties under the ~~requirements~~various agreements. While the Managing Shareholder believes a portion of ~~any~~such ~~plan~~financing ~~are determined~~will be available, ~~the~~there ~~Managing~~can ~~Shareholder~~be ~~may~~no ~~need~~assurance towhether ~~restrict~~or ~~cash~~when ~~distributions from~~RILG ~~Maine~~can ~~Hydro~~obtain tosufficient ~~the~~financing ~~Trust~~or ~~and~~obtain ~~Trust~~it Von satisfactory terms.

7On August 16, 2006, the Trust and several affiliated entities, including the Managing Shareholder, filed lawsuits against the former independent registered public accounting firm for the Trust and several affiliated entities, Perelson Weiner LLP (“Perelson Weiner”), in New Jersey Superior Court. The suit alleged professional malpractice and breach of contract in connection with audit and accounting services performed for the Trust and other plaintiffs by Perelson Weiner. On October 20, 2006, Perelson Weiner filed a counterclaim against the Trust and other plaintiffs, alleging breach of contract due to unpaid invoices with a combined total of approximately $1,200. Discovery is ongoing and a trial date is currently scheduled for May 17, 2010. The costs and expenses of this litigation, including adverse judgments, if any, are being paid by the Managing Shareholder and affiliated management companies and not the underlying investment funds.

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RIDGEWOOD ELECTRIC POWER TRUST IV

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited, dollar amounts in thousands)

As part of the Ridgewood Providence reorganization, RILG is obligated under the terms of various agreements with Rhode Island Resource Recovery Corporation (“RIRRC”), the owner and operator of the Central Landfill in Johnston, Rhode Island (the “Landfill”), to assume primary responsibility for costs associated with the landfill gas collection system at the Landfill as of the first to occur of the commencement of operation of a new electric generating facility to be constructed near the Landfill by RILG or June 1, 2013. If RILG fails to comply with these obligations, RILG could be subject to monetary damages and also forfeit its contracted gas rights. RILG is responsible for the development and construction of a sulfur treatment facility on the Landfill and the construction of new pipes and headers. The cost of building and operating the sulfur treatment facility and the pipes and headers is estimated to be approximately $5,000. The cost of the sulfur treatment facility will be split equally between RILG and RIRRC and the entire cost associated with the construction of pipes and headers will be paid by RILG. In addition, the cost of new flares on the Landfill will be borne by RIRRC, but in certain circumstances, the costs may be shared with RILG. RILG has insufficient capital to expand its operations fully. As a result, RILG will either have to be sold to entities that can invest in the development of these projects or have to obtain third-party financing to perform its duties under the various agreements. While the Managing Shareholder believes a portion of such financing will be available, there can be no assurance whether or when RILG can obtain sufficient financing or obtain it on satisfactory terms.

RILG and several of its affiliates had an agreement with a power marketer for which they were committed to sell Renewable Portfolio Standards Attributes (“RPS Attributes”) derived from their electric generation. The agreement provided such power marketer with six separate annual options to purchase such attributes from 2004 through 2009 at fixed prices, as defined in the agreement. If RILG and the affiliates failed to supply the required number of RPS Attributes, liquidated damages could have been assessed. The power marketer did not exercise its option to purchase 2009 RPS Attributes, and a deposit provided by RILG and its affiliates to secure their obligations under the option agreement was returned by April 2009. All required RPS Attributes were supplied in April 2009 and the contract expired according to its terms on June 15, 2009.

In July 2009, the purchaser elected to exercise its one-time option to terminate a long-term power purchase agreement with RILG, effective January 2010. RILG is currently seeking alternate arrangements for the sale of the output of its electricity generating capacity in lieu of selling the output at open market spot prices. Whether this effort will be successful and what the results to RILG will be if successful cannot be determined at this time.

On August 16, 2006, the Trust and several affiliated entities, including the Managing Shareholder, filed lawsuits against the former independent registered public accounting firm for the Trust and several affiliated entities, Perelson Weiner LLP (“Perelson Weiner”), in New Jersey Superior Court. The suit alleged professional malpractice and breach of contract in connection with audit and accounting services performed for the Trust and other plaintiffs by Perelson Weiner. On October 20, 2006, Perelson Weiner filed a counterclaim against the Trust and other plaintiffs, alleging breach of contract due to unpaid invoices with a combined total of approximately $1,200. Discovery is ongoing and the trial date was rescheduled to February 1, 2010. The costs and expenses of this litigation, including adverse judgments, if any, are being paid by the Managing Shareholder and affiliated management companies and not the underlying investment funds.

The Trust may become subject to legal proceedings involving ordinary and routine claims related to its business. The ultimate legal and financial liability with respect to all such matters cannot be estimated with certainty and requires the use of estimates in recording liabilities for potential litigation settlements. Estimates for losses from litigation are disclosed if considered reasonably possible and accrued if considered probable after consultation with outside counsel. If estimates of potential losses increase or the related facts and circumstances change in the future, the Trust may be required to record additional litigation expense. While it is not possible to predict the outcome of the litigation discussed in this Note with certainty and some lawsuits, claims or proceedings may be disposed of unfavorably to the Trust, based on its evaluation of matters which are pending or asserted, the Trust’s management believes the disposition of such matters will not have a material adverse effect on the Trust’s business or its financial condition or results of operations.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

This discussion and analysis of the operating results and financial condition of the Trust as of ~~September~~March 3031, ~~2009~~2010 is intended to help readers analyze the accompanying condensed consolidated financial statements, notes and other supplemental information contained in this document. Results of operations for the ~~nine and~~ three months ended ~~September~~March 3031, ~~2009~~2010 are not necessarily indicative of results to be attained for any other period. This discussion and analysis should be read in conjunction with the accompanying condensed consolidated financial statements, notes and other supplemental information included elsewhere in this report as well as the consolidated financial statements, notes and other supplemental information and Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Trust’s ~~2008~~2009 Form 10-K.

Forward-Looking Statements

Certain statements discussed in this item and elsewhere in this Quarterly Report on Form 10-Q constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to the Trust’s plans, objectives and expectations for future events and include statements about the Trust’s expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. These statements are based upon management’s expectations, opinions and estimates as of the date they are made. Although management believes that the expectations, opinions and estimates reflected in these forward-looking statements are reasonable, such forward-looking statements are subject to known and unknown risks and uncertainties that may be beyond the Trust’s control, which could cause actual results, performance and achievements to differ materially from the results, performance and achievements projected, expected, expressed or implied by the forward-looking statements. Examples of events that could cause actual results to differ materially from historical results or those anticipated include:

· the timing or terms of any sale of the Trust’s assets, · whether ~~RILG~~the landfill gas-fired electric generating projects will be able to obtain financing required to expand and make ~~other~~planned changes to its operations ~~described in Part I~~, Item 1, Note 7. “Commitments and Contingencies” of this report, · the outcome of the matters described in Part I, Item 1, Note 7. “Commitments and Contingencies” of this report, · the ability to secure a long-term contract for the sale of energy produced by RILG, · changes in political or economic conditions, or federal or state regulatory structures, cost of installing fish passage at Maine Hydro facilities including costs associated with the endangered species regulations, · government mandates, · the ability of customers to pay for energy received, · supplies of fuels, · operational status of generating plants, including mechanical breakdowns, and · volatility in the price for electric energy, natural gas or renewable energy.

Additional information concerning the factors that could cause actual results to differ materially from those in the forward-looking statements is contained in this report and in Item 1A. “Risk Factors”, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in the Trust’s 2008 Form 10-K. Any forward-looking statement that the Trust makes, speaks only as of the date of this report. The Trust undertakes no obligation to publicly update or revise any forward-looking statements or cautionary factors, as a result of new information, future events or otherwise, except as required by law.

	·	the outcome of the matters described in Part I, Item 1, Note 7. “Commitments and Contingencies” of this report,
	·	the ability to secure a long-term contract for the sale of energy produced by the landfill project on favorable terms,

~~Overview~~· changes in political and economic conditions, or federal or state regulatory structures, · government mandates, including those associated with climate change,

~~Historical operating~~· ~~revenues~~the ~~and~~ability ~~cost~~ of ~~revenues~~customers ofto ~~the~~pay ~~Trust~~ for ~~the nine~~energy ~~and three months ended September 30~~received, ~~2008~~· ~~have~~supplies ~~been derived from Ridgewood Providence’s operations. As the Trust no longer consolidates Ridgewood Providence~~ and ~~instead accounts~~prices ~~for its investment in RILG as an equity interest, the Trust does not anticipate having any future reported operating revenues and expenses. RILG’s reorganization and the sale~~ of ~~Indeck Maine have significantly affected the comparability of the Trust’s period-to-period financial statements.~~fuels,

	·	operational status of generating plants, including mechanical breakdowns, and
	·	volatility in the price for electric energy, natural gas, or renewable energy.

Additional information concerning the factors that could cause actual results to differ materially from those in the forward-looking statements is contained in this report and in Item 1A. “Risk Factors”, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in the Trust’s 2009 Form 10-K. Any forward-looking statement that the Trust makes, speaks only as of the date of this report. The Trust undertakes no obligation to publicly update or revise any forward-looking statements or cautionary factors, as a result of new information, future events or otherwise, except as required by law.

Critical Accounting Policies and Estimates

The following discussion and analysis of the Trust’s financial condition and results of operations are based upon the Trust’s condensed consolidated financial statements, which have been prepared in conformity with GAAP. In preparing these financial statements, the Trust is required to make certain estimates and assumptions that affect the reported ~~amount~~amounts of the Trust’s assets, liabilities, revenues and expenses, including the disclosure of contingent assets and liabilities. The Trust evaluates these estimates and assumptions on an ongoing basis. The Trust bases its estimates and assumptions on historical experience and on various other factors that the Trust believes to be reasonable at the time the estimates and assumptions are made. However, future events and their effects cannot be predicted with absolute certainty. Therefore, the determination of estimates requires the exercise of judgment. Actual results may differ from these estimates and assumptions under different circumstances or conditions, and such differences may be material to the condensed consolidated financial statements. No material changes have been made to the Trust’s critical accounting policies and estimates disclosed in its ~~2008~~2009 Form 10-K.

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Results of Operations and Changes in Financial Condition

~~Nine~~ Three months ended ~~September~~March 3031, ~~2009~~2010 compared to the ~~nine~~three months ended ~~September~~March 3031, ~~2008~~ 2009

~~Revenues~~ General and ~~cost~~administrative ofexpenses ~~revenues~~decreased ~~for~~$0.1 ~~the nine months ended September 30, 2008 were derived~~ million from ~~Ridgewood Providence’s operations~~$0.3 ~~Due~~million tofor the ~~reorganization~~three ~~affecting Ridgewood~~months ~~Providence,~~ended ~~effective~~March ~~November 17~~31, ~~2008,~~2009 ~~the~~to ~~Trust~~$0.2 ~~recorded~~million ~~its interest~~for in the ~~RILG~~same ~~investment~~period ~~using~~in ~~the~~2010 ~~equity~~primarily ~~method~~due ~~of accounting, which eliminated the need~~ to ~~consolidate~~a ~~Ridgewood~~decrease ~~Providence results of operations~~ in ~~the~~ ~~2009~~professional ~~period~~fees.

~~General and~~For ~~administrative~~the ~~expenses~~three ~~decreased~~months ended March 31, 2010, the Trust recorded equity loss of $20.57 million from $3its ~~million~~investment ~~for~~in ~~the nine~~RILG ~~months~~compared ~~ended~~to ~~September~~equity ~~30,~~loss ~~2008~~of to $0.5 million for the same period in 2009. ~~This~~The ~~decrease~~increase in equity loss of $0.2 million was primarily ~~due~~attributable to ~~the~~a ~~change~~decrease in ~~accounting~~renewable attribute revenue resulting from renewable energy credits produced but not committed for ~~its investment~~sale until second quarter of 2010. In addition, power generation revenue decreased as a result of the long-term power contract terminating in ~~Ridgewood~~January ~~Providence~~2010 and ~~also~~electric ~~due~~generation tonow being sold at a ~~decrease~~lower aggregate price in the open market, partially offset by decreases in professional fees and royalty expenses. RILG operating results for both the 2010 and 2009 periods also include approximately $0.8 million of engineering development and legal fees relating to planned plant expansion.

~~As a result of the Ridgewood Providence reorganization, the Trust recorded its interest in RILG investment using the equity method of accounting.~~ For the ~~nine~~ three months ended ~~September~~March 3031, 2009, the Trust recorded equity loss of $20.1 million from its investment in ~~RILG.~~Maine RILG incurred a loss in the 2009 period compared to Ridgewood Providence’s operating results in the 2008 period, primarily due to an increase in depreciation expense resulting from a change in estimated useful lives of a portion of the remaining plant assets and also due to an impairment charge recorded for the third quarter of 2009 as certain long-lived assets were fully impaired as the Managing Shareholder made the decision of not repairing these long-lived that were taken out of service for non-performance and these assets have nominal salvage valueHydro. ~~Operating results of RILG in the 2009 period also includes $2.3 million of engineering development and legal fees relating to planned plant expansion.~~ In ~~July~~November 2009, ~~the~~Maine ~~purchaser~~Hydro toentered ~~whom~~into ~~RILG currently sells the output from approximately 60% of its installed capacity under~~ a ~~long-term~~ ~~power~~ purchase ~~agreement,~~and ~~elected~~sale ~~to exercise its one-time option to terminate that~~ agreement ~~effective~~and ~~January 2010. The aggregate price for the output~~ sold ~~under this long-term contract exceeds current open market prices. RILG is currently seeking alternate arrangements~~ for ~~the~~cash, ~~sale~~all of the ~~output~~assets of ~~its~~ ~~electricity~~Maine ~~generating capacity~~Hydro. Whether this effort will be successful and what the results to RILG will be if successful cannot be determined at this time. However, beginning in January 2010, if this production is sold at prices which approximate current spot market prices, average revenue per kilowatt hour produced will be lower than it is currently.

~~For~~In the ~~nine~~ ~~months~~first ~~ended~~quarter ~~September~~of ~~30,~~ 2009, the Trust recorded ~~equity~~other ~~loss of $0.2 million from its investment in Maine Hydro compared to equity~~ income of $0.~~8 million~~3 ~~for the same period in 2008. The decrease in equity income of approximately $1~~ million, inwhich ~~the 2009 period was~~ primarily ~~due~~represents ~~to a decrease in power generation revenue by approximately 55% resulting from lower electricity prices compared to~~ the ~~2008~~sale ~~period. At the end~~ of ~~2008,~~renewable ~~eleven~~portfolio ~~long-term electric~~standards ~~power~~attributes ~~sales~~that ~~contracts~~were ~~expired~~associated ~~and~~with inelectricity ~~the~~produced ~~2009~~by ~~period,~~Indeck ~~approximately 75% of~~ Maine ~~Hydro revenue is generated through electric output sold at market price~~Energy, ~~the~~LLC ~~average~~(“Indeck ~~rate~~Maine”) ofprior ~~which~~to isits ~~significantly~~sale ~~lower~~in ~~than~~December ~~the prior contract price~~2008.

~~For~~Total ~~the nine~~assets ~~months~~decreased ~~ended~~$1 ~~September~~million 30from $10.4 million at December 31, ~~2008~~2009 to $9.4 million at March 31, ~~the~~2010 ~~Trust~~primarily ~~recorded~~due ~~equity~~to ~~income~~decreases of $10.6 7 million from its investment in ~~Indeck~~RILG, ~~Maine~~$0.2 ~~During~~million ~~the~~in ~~fourth~~intercompany ~~quarter~~receivables ofand ~~2008~~$0.1 million in cash and cash equivalents. Total liabilities at December 31, ~~Indeck~~ ~~Maine~~2009 ~~was~~and ~~sold~~March to31, ~~Covanta~~2010 were $0.1 million.

For the nine months ended September 30, 2008, the Trust recorded interest income of $0.3 million which represented interest earned on Indeck Maine’s note receivable balance.

For the nine months ended September 30, 2009, the Trust recorded other income of $0.4 million, which primarily represents the sale of RPS Attributes that were associated with electricity produced by Indeck Maine’s project prior to its sale.

The Trust recorded a noncontrolling interest in the loss of subsidiary of $0.4 million for the nine months ended September 30, 2008, relating to the portion of Ridgewood Providence owned by affiliates of the Trust.

Total assets decreased $21.7 million from $33.6 million at December 31, 2008 to $11.9 million at September 30, 2009. This was primarily due to the collection of amounts related to Indeck Maine’s operations and the subsequent related distributions to Trust V, IES and Trust shareholders. Total liabilities decreased $11.5 million from $11.8 million at December 31, 2008 to $0.3 million at September 30, 2009. This was primarily due to distributions made to Trust V and IES relating to the sale of Indeck Maine.

Three months ended September 30, 2009 compared to the three months ended September 30, 2008

In the third quarter of 2008, revenues and cost of revenues were derived from Ridgewood Providence’s operations. In the 2009 period, the Trust recorded its interest in the RILG investment using the equity method of accounting, which eliminated the need to consolidate Ridgewood Providence results of operations.

General and administrative expenses decreased $1.3 million from $1.4 million for the third quarter of 2008 to $0.1 million for the same period in 2009 primarily due to the change in accounting for its investment in Ridgewood Providence and also due to a decrease in professional fees in the 2009 period.

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As a result of the Ridgewood Providence reorganization, the Trust recorded equity loss of $1 million from its investment in RILG in the third quarter of 2009, compared to Ridgewood Providence’s operating results in the 2008 period, primarily due to an increase in depreciation expenses resulting from a change in estimated useful lives of a portion of the plant assets and also due to an impairment charge recorded for the third quarter of 2009 as certain long-lived assets were fully impaired as the Managing Shareholder made the decision of not repairing these long-lived that were taken out of service for non-performance and these assets have nominal salvage value.

In the third quarter of 2008, the Trust recorded equity income of $1 million from its investment in Indeck Maine. During the fourth quarter of 2008, Indeck Maine was sold to Covanta.

In the third quarter of 2008, the Trust recorded a noncontrolling interest in the loss of subsidiary of $0.3 million relating to the portion of Ridgewood Providence owned by affiliates of the Trust.

Liquidity and Capital Resources

~~Nine~~ Three months ended ~~September~~March 3031, ~~2009~~2010 compared to the ~~nine~~three months ended ~~September~~March 3031, ~~2008~~ 2009

At ~~September~~ 30March 31, ~~2009~~2010 the Trust had cash and cash equivalents of $7.7 million, a decrease of $40.1 million from $~~11.~~7.8 million at December 31, ~~2008. Cash flows for the nine months ended September 30~~2009, ~~2009~~as ~~were~~a ~~$3.2~~result ~~million~~of ~~provided~~cash ~~by operating activities and $7.2 million~~ used in ~~financing~~ operating activities.

Cash ~~provided~~ byused in operating activities for the ~~nine~~three months ended ~~September~~March 3031, ~~2009~~ 2010 was $30.21 million as compared to cash ~~used~~provided inby operating activities of $32.1 2 million for the same period in ~~2008~~2009. This ~~increase~~decrease in cash flow provided by operating activities of $62.3 million in the ~~2009~~2010 period was primarily due to the 2009 collection of amounts related to Indeck Maine’s operations net of related distributions to Trust V and ~~IES~~Indeck Energy Services, Inc.

~~The~~There ~~Trust used~~were ~~cash~~no ~~for~~ financing activities offor ~~$7.2~~the ~~million~~2010 ~~for~~period. For the ~~nine~~three months ended ~~September~~ 30March 31, 2009, asthe ~~compared~~Trust toused cash ~~provided by financing activities~~ of $27.~~5 million~~2 ~~for the same period in 2008. Cash used in the 2009 period included cash distributions to shareholders and cash provided in the 2008 period included $3~~ million inrelating ~~loan payable~~ to the ~~Managing Shareholder in connection with deposits, partially offset by $0.5 million in~~ cash distributions to the ~~noncontrolling~~ ~~shareholder of Ridgewood Providence~~shareholders.

Future Liquidity and Capital Resource Requirements

The Trust expects cash ~~distributions~~flows from its equity ~~investments~~investment in RILG, along with existing cash, cash equivalents and borrowing capabilities will be sufficient to provide working capital and fund capital expenditures ~~for~~of the ~~next 12 months. Distributions to the~~ Trust, ~~from~~but ~~Maine~~not ~~Hydro~~for ~~could~~its beinvestment ~~limited~~ in ~~the~~RILG, ~~future~~for ~~due to~~ the ~~impact~~next ~~of recently enacted endangered species regulations as discussed in Part II, Item 1A~~12 months. ~~“Risk Factors” of this report.~~

Off-Balance Sheet Arrangements and Contractual Obligations and Commitments

The Trust ~~currently~~ has no off-balance sheet arrangements ~~as the Trust~~ and ~~its~~there ~~affiliates were~~have ~~not~~been ~~liable~~no ~~for~~material ~~any~~changes ~~liquidated~~in ~~damages since~~ the ~~power~~contractual ~~marketer~~obligations ~~did not exercise its option to purchase 2009 RPS Attributes~~ and ~~all~~commitments ~~required~~disclosed ~~RPS Attributes were supplied~~ in the ~~April~~ Trust's 2009 asForm ~~discussed in Part I, Item 1, Note 7~~10-K. ~~“Commitments and Contingencies”.~~

There have been no material changes in the contractual obligations and commitments disclosed in the Trust’s 2008 Form 10-K.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not required.

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ITEM 4. CONTROLS AND PROCEDURES

In accordance with Rule 13a-15(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Trust’s management, with the participation of the Trust’s Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the Trust’s disclosure controls and procedures, as defined in Exchange Act Rule 13a-15(e). Based on this evaluation, the Trust’s Chief Executive Officer and Chief Financial Officer concluded that the Trust’s disclosure controls and procedures were effective as of the end of the period covered by this report to ensure that information required to be disclosed by the Trust in reports filed pursuant to the Exchange Act is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms and that information required to be disclosed by the Trust is accumulated and communicated to senior management so as to allow timely decisions regarding required disclosure.

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Changes in Internal Control over Financial Reporting

The Trust’s Chief Executive Officer and Chief Financial Officer have concluded that there was no change in the Trust's internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the Exchange Act) that occurred during the quarter ended ~~September~~March 3031, ~~2009~~2010 that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

There have been no material changes to the legal proceedings disclosed in the Trust’'s ~~2008~~ 2009 Form 10-K.

ITEM 1A. RISK FACTORS

~~Other than~~There ~~the matter discussed in the following paragraph, there~~ have been no material changes to the ~~risk~~legal ~~factors~~proceedings disclosed in the Trust’'s ~~2008~~2009 Form 10-K.

Effective July 20, 2009, NOAA and USFWS extended Endangered Species Act protections for Atlantic salmon by defining the territory in which Atlantic salmon is considered endangered species and in which their habitat is protected. Management has assessed the fifteen dams owned by Maine Hydro and determined that eight of these dams may be affected at some future time. One of the next steps expected to be taken by NOAA and USFWS is the development of habitat conservation plans to protect Atlantic salmon in this defined territory. The time for NOAA and USFWS to finalize such plans is unknown. These plans could require Maine Hydro and other dam owners throughout the affected area to demonstrate that, if Atlantic salmon have been seen at a dam, existing fish passage is effective to allow those salmon to pass the dam. As a result, Maine Hydro may be required to install effective fish passage measures or to take other corrective actions. At the present time, the Managing Shareholder is unable to determine the cost to implement such measures, if required, or when NOAA and USFWS may require them. Depending on the final requirements of such plans, the cost of compliance could exceed the value of the affected hydro-electric facilities. Until such time as the requirements of any plan are determined, the Managing Shareholder may need to restrict cash distributions from Maine Hydro to the Trust and Trust V.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. ~~SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS~~ RESERVED

None.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS

Exhibit No.		Description
10.1	*	Amendment to Senior Executive Bonus Plan.
31.1	*	Certification of Randall D. Holmes, Chief Executive Officer of the Registrant, pursuant to Securities Exchange Act Rule 13a-14(a).
31.2	*	Certification of Jeffrey H. Strasberg, Chief Financial Officer of the Registrant, pursuant to Securities Exchange Act Rule 13a-14(a).
32	*	Certifications pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of The Sarbanes-Oxley Act of 2002, signed by Randall D. Holmes, Chief Executive Officer of the Registrant, and Jeffrey H. Strasberg, Chief Financial Officer of the Registrant.

______________________

* Filed herewith.

1210

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	RIDGEWOOD ELECTRIC POWER TRUST IV
Date: November 9, 2009	By:	/s/ Randall D. Holmes
Date: May12, 2010	By:	/s/ Randall D. Holmes
		Randall D. Holmes
		President and Chief Executive Officer
		(Principal Executive Officer)
Date: November 9, 2009	By:	/s/ Jeffrey H. Strasberg
Date: May 12, 2010	By:	/s/ Jeffrey H. Strasberg
		Jeffrey H. Strasberg
		Executive Vice President and Chief Financial Officer
		(Principal Financial and Accounting Officer)

Filing Compare · RIDGEWOOD ELECTRIC POWER TRUST IV