UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-K

(Mark One)

x	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, ~~2009~~2010

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)		(IRS Employer Identification Number)

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

	(302) 888-7444
	(Registrant’s telephone number, including area code)

SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

None

SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:

	Investor Shares of Beneficial Interest
	(Title of Class)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes o No þ

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes o No þ

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 þ 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 if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. þ

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 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 þ
		(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

There is no market for the Investor Shares. The number of Investor Shares outstanding at ~~February~~ 28January 31, ~~2010~~2011 was 476.8.

Table of Contents

FORM 10-K

TABLE OF CONTENTS

PART I

		Page
Item 1.	Business	31
Item 1A.	Risk Factors	73
Item 1B.	Unresolved Staff Comments	103
Item 2.	Properties	103
Item 3.	Legal Proceedings	103
Item 4.	Reserved	113
PART II
Item 5.	Market for Registrant’s Common Equity, Related Security Holder Matters and Issuer Purchases of Equity Securities	114
Item 6.	Selected Financial Data	114
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	114
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	146
Item 8.	Financial Statements and Supplementary Data	146
Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	146
Item 9A.	Controls and Procedures	146
Item 9B.	Other Information	157
PART III
Item 10.	Directors, Executive Officers and Corporate Governance	157
Item 11.	Executive Compensation	179
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	179
Item 13.	Certain Relationships and Related Transactions, and Director Independence	1810
Item 14.	Principal Accountant Fees and Services	1910
PART IV
Item 15.	Exhibits and Financial Statement Schedules	2012
SIGNATURES		2313

Table of Contents

Forward-Looking Statements

Certain statements discussed in Item 1. “Business”, Item 37. “~~Legal Proceedings”, Item 7. “~~Management’s Discussion and Analysis of Financial Condition and Results of Operations”, the financial statements and related notes referred to in Item 8. “Financial Statements and Supplementary Data”, and elsewhere in this Annual Report on Form 10-K 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~~many of which 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:

· possible contingent liabilities and risks associated with the ~~timing~~dissolution orand ~~terms~~liquidation of ~~any~~the ~~sale~~Trust, including, without limitation, settlement of the Trust’s ~~assets~~liabilities and obligations, · costs incurred in connection with the carrying out of the plan of liquidation and dissolution of the Trust, · · the actual timing of the completion of the liquidation process, and the amount and timing of liquidating distributions, if any.

· Additional ~~whether~~information concerning the ~~landfill~~factors ~~gas~~that could cause actual results to differ materially from those in the forward-~~fired~~looking ~~electric~~statements ~~generating~~is ~~projects~~contained ~~will~~in bethis ~~able~~Annual toReport ~~obtain~~on ~~financing~~Form ~~required~~10-K. Any toforward-looking ~~expand~~statement ~~and~~that ~~make~~the ~~planned~~Trust ~~changes~~makes, speaks only as of the date of this report. The Trust undertakes no obligation to ~~its~~publicly ~~operations~~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 Item 3. “Legal Proceedings” of this report,

· the ability to secure a long-term contract for the sale of energy produced by the landfill project on favorable terms,

· changes in political and economic conditions, or federal or state regulatory structures,

· government mandates, including those associated with climate change,

· the ability of customers to pay for energy received,

· supplies and prices 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 Item 1A. “Risk Factors”, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in this Annual Report on 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.

PART I

ITEM 1. BUSINESS

Overview

Ridgewood Electric Power Trust IV (the “Trust”) is a Delaware trust formed on September 8, 1994. ~~primarily~~The toTrust ~~make~~began ~~investments~~offering shares in ~~projects~~February 1995 and ~~businesses~~concluded its offering in September 1996. Historically, the ~~energy~~Trust ~~and infrastructure~~focused ~~sectors.~~primarily ~~The~~on ~~Managing~~power ~~Shareholder~~generation facilities fueled by natural gas and renewable sources of fuel located in the ~~Trust~~US. isPrior ~~Ridgewood Renewable~~to ~~Power~~the ~~LLC,~~adoption aof ~~New~~the ~~Jersey~~Trust’s ~~limited~~Plan ~~liability~~of ~~company~~Dissolution (~~the~~described ~~“Managing Shareholder”~~below), orthe ~~“RRP”).~~objective Asof the ~~Managing~~Trust ~~Shareholder,~~was ~~RRP~~to ~~has~~provide ~~direct~~benefits ~~and exclusive~~to ~~control~~its ~~over~~shareholders ~~the~~through ~~management~~a ~~and~~combination ~~operations~~of distributions of ~~the~~operating ~~Trust~~cash flow and capital appreciation.

The ~~Trust focuses~~Managing ~~primarily~~Shareholder ~~on projects fueled by natural gas and renewable sources~~ of ~~fuel.~~ ~~These projects allowed~~ the Trust tois ~~develop~~Ridgewood ~~long-term~~Renewable ~~positions~~Power ~~in attractive specialty markets for products and services provided by its projects and companies. As of December 31~~LLC, ~~2009,~~a ~~the~~New ~~Trust~~Jersey ~~had~~limited ~~one~~liability ~~remaining~~company ~~operating investment located in~~ (the ~~United~~“Managing ~~States,~~Shareholder” anor ~~investment in a landfill gas-fired electric generating project with total capacity of 20.4 megawatts (~~“MWRRP”). ~~The Trust~~As ~~owned~~the ~~hydro-electric~~Managing ~~projects~~Shareholder, ~~that~~RRP ~~were~~has ~~sold~~direct inand ~~November~~exclusive ~~2009,~~control ~~as discussed~~over ~~below. Also,~~ the ~~Trust~~management ~~previously~~and ~~owned~~operations ~~biomass~~of ~~fueled electricity~~the ~~generating facilities in Maine which were sold in December 2008, as discussed below~~Trust.

~~The~~ On November 19, 2010, the Trust sold its Johnston, Rhode Island landfill-gas business and the Plan of Liquidation and Dissolution of Ridgewood Electric Power Trust IV (the “Plan of Dissolution”) became effective. Under the Plan of Dissolution, the business of the Trust shifted, and became limited to the disposal of its remaining assets and resolution of its remaining liabilities. Upon the completion of these activities, if successful, the Managing Shareholder isexpects ~~marketing~~to distribute any remaining cash to the Trust’s ~~landfill~~shareholders ~~project~~and ~~for~~then ~~sale~~proceed to terminate the Trust and its reporting obligations under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The ~~Managing~~ ~~Shareholder~~Trust ~~cannot~~is ~~predict~~required to make adequate provisions to satisfy its known and unknown liabilities, which could substantially delay or limit the Trust’s ~~timing~~ability to make future distributions to shareholders. The process of accounting for the Trust’s ~~sale~~liabilities, ~~process~~including those that are presently unknown, may involve difficult valuation decisions, which could adversely impact the amount or ~~whether~~ timing of any ~~sale~~future ~~will~~distributions ~~occur~~by the Trust.

The Trust ~~initiated~~ ~~its~~owned ~~private~~hydro-electric ~~placement~~projects ~~offering~~located in ~~February~~the ~~1995, selling whole and fractional investor shares of beneficial interests of $100,000 per share (“Investor Shares”)~~U. ~~There is no public market for Investor Shares and one is not likely to develop~~S. Inthat ~~addition,~~were ~~Investor~~sold ~~Shares are subject to significant restrictions on transfer and resale and cannot be transferred or resold except~~ in ~~accordance~~November ~~with~~2009, ~~the~~as ~~Trust’s~~discussed ~~Declaration of Trust (“Declaration of Trust”) and applicable federal and state securities laws~~below. ~~The~~As ~~offering was concluded in September 1996, and after payment~~ of ~~offering~~December ~~fees~~31, ~~commissions and investment fees~~2010, the Trust ~~had~~did ~~$39.5~~not ~~million~~have ~~available~~any ~~for investments and~~ operating ~~expenses~~ assets.

3There is no public market for investor shares of beneficial interest (“Investor Shares”) and one is not likely to develop. In addition, Investor Shares are subject to significant restrictions on transfer and resale and cannot be transferred or resold except in accordance with the Trust’s Declaration of Trust (“Declaration of Trust”) and applicable federal and state securities laws.

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Managing Shareholder

RRP, via a predecessor corporation, was founded in 1991 by Robert E. Swanson. As the Managing Shareholder, RRP has direct and exclusive control over the management of the Trust’s operations. ~~With respect to project investments, RRP locates potential projects, conducts appropriate due diligence and negotiates and completes the transactions in which the investments are made by the Trust.~~

~~In addition,~~ RRP ~~performs~~performed, or ~~arranges~~arranged for the performance of, the operation and maintenance of the projects invested in by the Trust and continues to perform the management and administrative services required for Trust operations. Among other services, RRP administers the Trust’s accounts, including tax and other financial information, and handles relations with the Trust’s shareholders. RRP also provides the Trust with office space, equipment and facilities and provides other services necessary for its operation. Under the Plan of Dissolution, the Managing Shareholder has sole authority to dissolve, liquidate and terminate the Trust.

As compensation for its management services, the Managing Shareholder is entitled to (i) an annual management fee, payable monthly, equal to 3% of the Trust's prior year net asset value, and (ii) a 20% interest in the cash distributions made by the Trust in excess of a certain threshold ~~amounts~~amount expressed in terms of shareholder returns, ~~which~~such ~~have~~threshold ~~not~~was ~~been~~reached ~~achieved~~in byDecember ~~the Trust~~2010. The Managing Shareholder is also entitled to receive reimbursement from the Trust for operating expenses incurred by the Trust, or on behalf of the Trust, and paid by RRP, as the Managing Shareholder. RRP has arranged for administrative functions required to be performed for the Trust to be performed by an affiliate of RRP, Ridgewood Power Management LLC (“RPM”), ~~and~~ at RPM’s costs,. ~~such~~Those costs are reimbursed to RPM by the Trust. RRP also serves as the managing shareholder (or managing member, as appropriate) of a number of affiliated trusts and investment vehicles similar to the Trust and, through RPM, provides services to those entities similar to those provided to the Trust.

Affiliates of RRP act on behalf of a number of investment vehicles in the oil and gas and venture capital sectors in a manner similar to that for which RRP serves on behalf of the Trust.

Rhode Island LFG Genco, LLC

~~Ridgewood Providence~~Prior ~~Power~~to ~~Partners~~November 19, ~~L.P.~~2010, ~~(“Ridgewood~~the ~~Providence”)~~Trust ~~was~~and ~~formed~~certain inof ~~February 1996~~its asaffiliates aowned ~~Delaware~~Rhode ~~limited~~Island ~~partnership~~LFG ~~and~~Genco, ~~in April 1996~~LLC, ~~Ridgewood~~a ~~Providence purchased~~Delaware ~~substantially~~limited ~~all~~liability ofcompany ~~the~~(“RILG”), ~~net~~which ~~assets~~directly ofand ~~Northeastern~~indirectly ~~Landfill~~through ~~Power Joint~~its ~~Venture.~~wholly ~~The~~owned ~~assets~~subsidiaries, ~~acquired~~owns ~~included~~and operates a ~~13.8MW~~landfill-gas-fired ~~capacity~~electricity ~~electrical~~ generating ~~station~~facilities located, and ~~associated~~holds ~~gas~~contractual ~~treatment~~rights ~~system,~~to ~~located~~all the landfill gas produced, at the Central Landfill in Johnston, Rhode Island ~~(the “Landfill”)~~. ~~The~~ ~~project~~RILG ~~included nine~~was ~~reciprocating~~owned ~~engine~~35.2% ~~generator~~by ~~sets~~the ~~(“gensets”)~~Trust, ~~fueled~~6.8% by ~~methane~~Ridgewood ~~gas produced~~Electric byPower ~~and~~Trust ~~collected~~I ~~from~~(“Trust ~~the~~I”), ~~Landfill~~19.6% ~~Prior~~by toRidgewood ~~the~~Electric ~~reorganization discussed~~Power ~~below,~~Trust III ~~the~~ (“Trust ~~owned~~III”) 64and 38.34% ofby Ridgewood ~~Providence~~Power ~~and~~B ~~the~~Fund/Providence ~~remaining 35.7% interest~~Expansion ~~was~~(“B ~~owned~~Fund”, byand ~~Ridgewood~~collectively ~~Electric~~with ~~Power~~Trust, Trust I, ~~III~~and (“Trust III, the “Trusts”).

InOn ~~April 2002~~July 26, 2010, the ~~Managing~~Trusts ~~Shareholder~~entered ~~formed~~into ~~Ridgewood~~an ~~Rhode~~interest ~~Island~~purchase ~~Generation~~agreement ~~LLC (“RRIG”)~~to ~~through~~sell aall ~~joint~~of ~~venture~~their ~~between~~respective ~~Ridgewood~~limited ~~Electric~~liability ~~Power~~company ~~Trust~~membership interests in RILG to Broadrock Biopower I LLC (~~“Trust~~the I“Buyer”), ~~(15%)~~a ~~and~~subsidiary ~~the~~of ~~Ridgewood~~MIP ~~Power~~II BBiopower ~~Fund/Providence~~LLC, ~~Expansion~~which ~~(“B~~is ~~Fund”) (85%)~~affiliated ~~for~~with ~~the~~Macquarie ~~purpose~~Group ofLimited, ~~utilizing~~an aAustralian ~~portion~~based international company. On November 19, 2010, all of the ~~supply~~Trusts’ ofrespective ~~gas~~limited ~~from~~liability ~~the Landfill~~company ~~that~~membership ~~was~~interests in ~~excess~~RILG ofwere ~~the~~sold ~~quantity~~to ~~that~~the ~~could~~Buyer befor ~~used~~an byinitial ~~Ridgewood Providence. The~~aggregate ~~RRIG~~gross ~~project~~sale ~~currently~~price isof ~~a 6~~$18.~~6MW~~7 ~~facility~~million, ~~and~~of ~~include~~which ~~four gensets~~$6.6 ~~RRIG’s~~million ~~capacity~~was ~~declined~~allocated byto 2the Trust.~~6MW,~~ ~~from~~The ~~9.2MW,~~initial asgross ~~two~~sale ~~gensets~~price ~~were decommissioned~~included $1 million in ~~the~~estimated ~~third~~net ~~quarter~~working capital of ~~2009.~~RILG, ~~Prior~~which was subject to ~~the~~adjustment, ~~reorganization discussed~~within ~~below~~90 days following the closing, to reflect the ~~Trust~~difference ~~did~~between ~~not~~estimated ~~own~~and ~~any~~actual ~~interest~~net inworking ~~RRIG~~capital at closing.

~~Rhode Island~~In ~~LFG~~connection ~~Genco,~~with ~~LLC~~the ~~(“RILG”)~~indemnification ~~was~~obligations ~~formed~~of inthe ~~October~~Trusts ~~2007~~under asthe ainterest ~~Delaware~~purchase ~~limited liability~~agreement, ~~company~~the ~~which~~Buyer ~~must~~held beback ~~dissolved~~$3 million noof ~~later~~the ~~than~~gross ~~December~~sale 31price of RILG, ~~2107~~of which $1.1 ~~On November~~million ~~17,~~was ~~2008,~~allocated to the Trust, ~~Trust~~for I,a ~~Trust~~period ~~III~~of ~~and~~9 months Bafter ~~Fund~~the ~~entered~~closing ~~directly~~of ~~or indirectly~~the sale. The holdback period is scheduled to end in August 2011. Subsequent to year-end, ~~through~~the ~~one~~estimated orworking ~~more~~capital ~~subsidiaries~~calculation for RILG was finalized, ~~into~~resulting ain ~~series~~$0.2 ofmillion ~~agreements relating~~being owed to the ~~operations~~Buyer, of ~~Ridgewood~~which ~~Providence~~$0.1 ~~and~~million ~~RRIG~~was atallocated to the ~~Landfill~~ Trust. The ~~principal~~ ~~purpose~~working ofcapital ~~these~~adjustment ~~agreements~~resulted ~~was~~in toa ~~consolidate~~reduction ~~the~~of ~~activities~~RILG’s portion of the ~~Trust,~~ ~~Trust~~Buyer’s I,holdback ~~Trust~~amount ~~III~~to ~~and~~$2.8 ~~B Fund~~million, atof ~~the~~which ~~Landfill~~$1 ~~under~~million ~~one~~will ~~entity,~~be ~~RILG, for~~allocated to the ~~purposes~~Trust. In the absence of ~~developing~~any aclaims ~~new~~for ~~electric~~indemnification ~~generating~~by ~~facility~~the ~~and consolidating~~Buyer, ~~all~~the ~~gas~~remaining ~~rights~~holdback ~~under~~amount ~~one~~will ~~entity.~~be ~~References~~released to ~~RILG~~the ~~herein~~Trusts ~~refer to~~in ~~RILG~~August or2011. ~~RILG~~As ~~and~~of ~~its~~the ~~subsidiaries~~date of the filing of this report, asthe Buyer has not notified the ~~context~~Trusts ~~requires~~of any claims.

~~Pursuant to~~As ~~terms~~a ~~and~~result ~~conditions~~ of ~~a contribution agreement,~~ the ~~Trust~~sale, ~~Trust~~none I,of ~~Trust III~~the ~~and~~Trusts Bhas ~~Fund~~any ~~each~~further ~~contributed~~obligations ~~certain~~with ~~membership,~~respect ~~partnership and economic interests that they held in Ridgewood Providence, RRIG, Rhode Island Gas Management LLC (“RIGM”) and Ridgewood Providence Power Corporation (“RPPC”)~~ to ~~RILG,~~ ~~in exchange for their allocable interests in RILG. As a result of~~ the ~~reorganization,~~expansion ~~the Trust, Trust I, Trust III and B Fund directly~~ or ~~indirectly~~ ~~own~~development ~~all~~ of ~~the equity interests in~~ RILG. ~~The Trust contributed its 64.3% interest in Ridgewood Providence in exchange for its 35.24% interest in RILG.~~

The assets owned by Ridgewood Providence and RRIG currently have a combined 20.4MW of electrical generating capacity and are operated under contract by RPM on an at-cost basis.

The electricity produced by Ridgewood Providence was historically sold to New England Power Service Company (“NEP”) under a long-term electric power sales contract which would have expired in 2020. In July 2009, NEP under the long-term contract elected to exercise its one-time option to terminate its contract with RILG, effective January 2010. RILG currently sells all of its electrical output in the spot or day-ahead wholesale electricity market. RILG is currently seeking alternate arrangements for the sale of its 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.

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Under the site lease and gas rights agreement entered into in connection with the transaction, Rhode Island Resource Recovery Corporation (“RIRRC”), the owner and operator of the Landfill, transferred 100% of the current and future landfill gas produced at the Landfill to RILG. Effective with the commercial operation of the new generating facility, RILG will pay a royalty of 15% of gross revenue to RIRRC, net of certain credits, from all sources including electricity, capacity and Renewable Portfolio Standards Attributes (“RPS Attributes”). RILG will also pay monthly rent of $3,400 (escalated for inflation beginning in 2010) for the land on which the treatment facility is intended to be built. The payment arrangements under the previously existing arrangements will continue in place until the new generating facility begins commercial operation. Under the prior existing RPS Attribute agreement between Ridgewood Providence and RIRRC, Ridgewood Providence is required to pay 15% net revenue royalties from the sale of its RPS Attributes to each of RIRRC and Ridgewood Gas Services LLC. In addition, Ridgewood Providence is also required to pay, as royalty, 18% of power generation revenue to RIRRC. Similarly, RRIG is required to pay 15% net revenue royalties derived from the sale of its RPS Attributes to RIRRC, net of certain adjustments.

The site lease and gas rights agreement also requires that Ridgewood Providence terminate operation of its existing facility, decommission the facility and turn it over to RIRRC, if requested, but no earlier than December 31, 2011 (subject to acceleration with a payment by RIRRC). RILG may also need to relocate a portion of RRIG’s plant and will split any cost of such relocation with RIRRC (subject to a $250,000 cap on RIRRC’s share).

RILG is also obligated, under the terms of the various agreements with RIRRC, to construct a new electric generating facility at the Landfill and 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 or June 1, 2013. RILG is also 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 million. 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. If RILG fails to comply with these obligations, it could be subject to monetary damages and could also forfeit its contracted gas rights as discussed in Item 7. “Management’s Discussion and Analysis of Financial Condition and Result of Operations - Contractual Obligations and Commitments”.

On November 3, 2009, RILG received notice from the United States Department of Energy (“DOE”) that it had been awarded a grant of $15 million towards the purchase of equipment relating to RILG expansion. The final detail of the award is subject to final contract negotiations between RILG and the DOE. As a result, the exact amount, and timing of the receipt of any award, cannot currently be predicted.

Massachusetts law requires that all retail electricity suppliers in Massachusetts (i.e. those entities supplying electric energy to retail end-use customers in Massachusetts) purchase a minimum percentage of their electricity supplies from qualified renewable generation units powered by one of several renewable fuels, such as solar, biomass or landfill methane gas. Beginning in 2009, each such retail supplier must obtain at least approximately four percent of its supply from qualified new renewable generation units and approximately four percent from qualified older renewable generation units. The regulations providing for certain of these provisions are currently being reviewed by the Massachusetts Department of Energy Resources (“DOER”) and could be modified as a result of that review.

In January 2003, Ridgewood Providence received a “Statement of Qualification” from the DOER pursuant to the Renewable Portfolio Standards (“RPS”) adopted by Massachusetts. Since Ridgewood Providence became qualified, it has been able to sell to retail electric suppliers the RPS Attributes associated with its electrical energy, subject to “vintage” provisions, which disqualifies the amount of a facility’s generation of electric energy measured by its average output during the period 1995 through 1997. Retail electric suppliers may purchase RPS Attributes associated with renewable energy and not necessarily the energy itself. Thus, electrical energy and RPS Attributes are separable products and need not be sold or purchased as a bundled product.

During 2004, Ridgewood Providence became qualified to sell RPS Attributes in Connecticut under a similar RPS program, except that the Connecticut program does not have “vintage” provisions. Thus, Ridgewood Providence can sell the 86,000 megawatt hours that are ineligible under Massachusetts standards into the Connecticut market. During 2009 and 2008, Ridgewood Providence sold its “vintage” RPS Attributes pursuant to agreements with various power marketers.

The output from Ridgewood Providence and RRIG qualifies for renewable energy incentives in Massachusetts, New Hampshire, Rhode Island and Connecticut. The output of RRIG electrical generating capacity also qualifies for Section 45 federal tax credits. The federal tax credits are expected to continue until October 2015, the tenth anniversary of the commissioning of the gensets.

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RILG and several of its affiliates had an agreement with a power marketer for which they were committed to sell 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. 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 agreement was returned by April 2009. All required RPS Attributes were supplied by April 2009 and the contract expired according to its terms on June 15, 2009. RILG currently has no long-term agreements for the sale of RPS Attributes.

Maine Hydro

In August 1996, the Trust and Ridgewood Electric Power Trust V (“Trust V”) formed Ridgewood Maine Hydro Partners, L.P. (“Maine Hydro”) and in December 1996, acquired a portfolio of hydro-electric facilities located in Maine from CHI Energy, Inc. The Trust and Trust V owned equal interests in Maine Hydro.

On November 20, 2009, Maine Hydro entered into a purchase and sale agreement and sold for cash, all of the assets of Maine Hydro to KEI (USA) Power Management Inc. and certain of its subsidiaries (“KEI USA”), which are affiliated with Kruger Energy, Inc., a Canada-based international company. The total gross purchase price of the sale, including a post-closing adjustment made in 2010 for estimated working capital at the time of the sale, totaled $7.3 million, of which $3.6 million was allocated to the Trust. A summary of the terms and conditions of the sale is provided in a Current Report on Form 8-K filed with the United States Securities and Exchange Commission (“SEC”) on November 23, 2009.2

The sellers gave a limited number of representations and warranties to the buyers in connection with the sale that are considered typical of such transactions. Should there be a breach of those representations and warranties, the buyers must first make a claim against the insurance policy purchased by the seller for claims arising from any such breach. As of the date of such filing, the Trust is not aware of any such claims.

Indeck Maine

In June 1997, the Trust and Trust V purchased equal portions of a preferred membership interest in Indeck Maine Energy, LLC, an Illinois limited liability company (“Indeck Maine”) that owned two electric power generating stations fueled by clean wood biomass at West Enfield and Jonesboro, both in Maine. Indeck Energy Services, Inc. (“IES”), an entity unaffiliated with the Trust, owned the remaining membership interest in Indeck Maine and was the seller in the June 1997 transaction.

On August 22, 2008, Ridgewood Maine LLC (“Ridgewood Maine”), co-owned by the Trust and Trust V, and IES (together the “Sellers”) entered into a purchase and sale agreement to sell 100% of the membership interests of Indeck Maine to Covanta Energy Corporation (“Covanta”) for cash, subject to various closing conditions, including approval of shareholders of the Trust and Trust V. A summary of the terms and conditions of the sale is provided in Current Reports on Form 8-K filed with the SEC on August 25, 2008 and November 14, 2008.

On December 22, 2008, the Sellers completed the sale and transferred 100% of the membership interests in Indeck Maine to Covanta for an aggregate purchase price of $53.9 million, which includes a net working capital adjustment of $3.1 million as defined in the purchase and sale agreement, as amended, less estimated retention and vacation payments of $1.2 million relating to RPM staff based at the Indeck Maine facilities.

Project Raw Materials

The Trust’s investments convert a raw material into a finished product and the arrangements for obtaining these raw materials are a key element in the business of the Trust. The landfill electricity generating facilities consist of gensets that use methane-containing landfill gas as fuel. Gas is collected from the Landfill as it is produced through natural anaerobic digestion of the waste. RILG does not own or operate the Landfill but has arrangements with RIRRC which give the project certain rights, including the right to build the project, occupy the compound and use the gas from the Landfill. These arrangements are set out in long-term agreements that include provisions for royalty payments from the project to RIRRC as compensation for granting these rights.

Competition

Prior to January 2010, power generated by RILG was partly sold pursuant to long-term contract and partly at prevailing market prices. Effective January 2010, all of the power generated by RILG is sold at prevailing market prices. RILG competes with other renewable energy producers for the sale of the electricity and RPS Attributes.

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~~Government Incentives~~On November 20, 2009, Maine Hydro entered into a purchase and ~~Regulation~~sale agreement and sold for cash, all of the assets of Maine Hydro to KEI (USA) Power Management Inc. and certain of its subsidiaries (“KEI USA”), which are affiliated with Kruger Energy, Inc., a Canada-based international company. The total gross proceeds from the sale, including a post-closing adjustment made in January 2010 for working capital at the time of the sale, totaled $7.3 million, of which $3.6 million was allocated to the Trust.

~~Projects~~ There are no remaining payment obligations on the part of the ~~Trust~~Maine ~~are~~Hydro ~~subject~~or the buyers related to ~~energy~~the ~~and~~sale ~~environmental~~of ~~laws~~the ~~and~~Maine ~~regulations~~Hydro atprojects. ~~the federal,~~The ~~state~~sellers gave a limited number of representations and ~~local~~warranties ~~levels~~to the buyers in connection with ~~development,~~the ~~ownership, operation,~~sale ~~geographical~~that ~~location,~~are ~~zoning~~considered ~~and~~typical ~~land~~of ~~use~~such oftransactions. Should there be a ~~project~~breach ~~and~~of ~~emissions~~ those representations and ~~other~~warranties, ~~substances~~the ~~produced~~buyers bymust afirst ~~project.~~make ~~These~~a ~~energy~~claim ~~and~~against ~~environmental~~an ~~laws and~~insurance ~~regulations~~policy ~~generally~~purchased ~~require~~by ~~that~~the asellers ~~wide~~for ~~variety~~claims ofarising ~~permits~~from ~~and~~any ~~other approvals~~such bebreach. ~~obtained~~As ~~before~~of the ~~commencement~~date of ~~construction~~the orfiling ~~operation~~ of ~~an energy-producing~~this ~~facility~~report, ~~and that~~ the ~~facility~~Trust ~~then~~is ~~operate~~not inaware ~~compliance~~of ~~with~~ any such ~~permits and approvals~~claims.

~~RILG qualifies~~In ~~for~~September ~~incentives~~2010, ~~because~~Maine ofHydro was dissolved and its remaining assets were distributed to the ~~use~~Trust ofand ~~renewable~~Trust ~~fuel~~V according to their respective ownership interests.

All of the Trust’s projects have operated under Qualifying Facility Certifications issued by the Federal Energy Regulatory Commission. Even though these projects have no employees, they are affected by general employment regulations in the jurisdictions in which they operate through the RPM operations and maintenance agreements. The Trust considers these regulations to be routine and does not consider the cost of compliance to be material.

Insurance

The Trust has in place, either directly or, ~~through~~prior to the sale and liquidation of its investee companies, insurance typical for activities such as those conducted by the Trust or its investee companies. These policies include property and casualty, business interruption and workman’s compensation insurance, which the Trust believes to be appropriate.

Employees

The Trust does not have employees. The activities of the Trust are performed either by employees of the Managing Shareholder or its affiliates.

Offices

The principal office of the Trust is located at 1314 King Street, Wilmington, Delaware, 19801 and its phone number is 302-888-7444. The Managing Shareholder’s principal office is located at 14 Philips Parkway, Montvale, New Jersey, 07645 and its phone number is 201-447-9000.

ITEM 1A. RISK FACTORS

~~In addition~~Not ~~to the other information set forth elsewhere in this report, you should carefully consider the factors discussed below~~required.

RISKS INHERENT IN THE BUSINESSES OF THE TRUST

RILG depends on the production of landfill methane gas from the Landfill site on which they operate and access to that gas production.

A number of factors influence the amount and quality of landfill methane gas produced by a landfill site, including the quantity and makeup of the waste deposited into the site by RIRRC, the manner and sequence of the waste deposition, the non-waste materials used to support the landfill structure and the amount of liquid in the landfill. A number of factors also affect access to gas that is being produced by a landfill including the land filling strategy and practices of the landfill site operator. To the extent that these factors limit the production of landfill methane gas or the ability of the project to collect and use that gas, RILG may not maintain profitable output levels.

RILG is subject to monetary damages and forfeiture of its gas rights if the facilities at the Landfill are not expanded as contractually required.

The terms of RILG’s site lease and gas rights agreement will continue so long as RILG or an affiliate has electricity generating facilities on the Landfill capable of using the landfill gas on an economic basis or otherwise making economic use of the landfill gas products, including, without limitation, sales to third parties. RILG is also obligated, under the terms of the various agreements with RIRRC, to construct a new electric generating facility at the Landfill and 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 the new electric generating facility or June 1, 2013. RILG is also responsible for the development and construction of a sulfur treatment facility on the Landfill and the construction of new pipes and headers. If RILG fails to comply with these obligations, it could be subject to monetary damages and could also forfeit its contracted gas rights. While the full cost of the expansion activities is not yet known, it is the opinion of the Managing Shareholder that RILG has insufficient capital to meet all of its obligations to expand its Landfill operations. As a result, for the development efforts to be completed, RILG must either be sold to entities that can invest in the development of these projects or 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. The current condition of the capital markets may make selling or obtaining financing for these projects very difficult.

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The projects of the Trust are subject to regulatory changes (including changes in environmental regulations) that could significantly reduce revenues or increase expenses of the Trust.

Regulatory changes, such as emission control changes and climate change regulations could impact the operations of the Trust’s projects. Such changes could increase their costs, prevent them from operating or alternatively, increase their value.

The Trust’s projects sell their electricity output and RPS Attributes at open market prices and could be adversely impacted by unfavorable changes in market prices.

Historically, RILG sold electricity partly at fixed prices pursuant to a long-term contract and partly at prevailing market prices. However, effective January 2010, RILG started selling all of its electricity at market prices. If market prices for electricity fall sufficiently, RILG may not be able to operate profitably. Effective January 2009, all RPS Attributes generated by RILG’s operations are sold at market prices. These market prices are highly dependent on the available supply of RPS Attributes. The supply of available RPS Attributes in the region has been increasing and is expected to continue to increase in the coming years. Additionally, the price for RPS Attributes has been declining since 2008. If the market prices for RPS Attributes continue to decline, such a decline would adversely impact the profitability of RILG, and, if severe enough or if coupled with a decrease in electricity prices, could result in a suspension of operations.

The projects of the Trust depend on the near-continuous operation of their equipment. Should the productivity of some or all of this equipment be compromised or should the equipment fail altogether, the projects and the Trust would be adversely affected. The Managing Shareholder may also experience difficulty in hiring qualified operating personnel.

The primary equipment of the projects is gensets. This equipment is subject to mechanical failure that the Trust may not be able to predict and that can render specific projects inoperable for considerable periods of time. This risk also extends to failures of the electricity grid near the Trust’s projects that could prevent the affected project or projects from delivering its electricity. In addition, the Managing Shareholder may experience price increases for, or difficulty in obtaining, spare parts for the Trust’s projects and in identifying and hiring personnel qualified to operate, maintain and repair the specialized equipment that make up parts of the Trust’s projects.

The Trust is, and may in the future become, involved in litigation that may be resolved unfavorably.

The Trust faces an inherent business risk of exposure to various types of claims and lawsuits that may arise in the ordinary course of business. Although it is not possible to predict the timing, nature or outcome of such claims or lawsuits should they arise, any such claims or proceedings, or any claim or proceeding discussed herein under Item 3. “Legal Proceedings”, may be disposed of unfavorably to the Trust. An unfavorable ruling could include money damages or injunctive relief and could result in a material adverse impact on the Trust's business, results or financial condition. Generally, for accounting purposes, the Trust's results of operations would be impacted for the period in which the matter is ultimately resolved unfavorably to the Trust or an unfavorable outcome becomes probable and reasonably estimable. In addition, while the Trust maintains insurance coverage with respect to certain claims, the Trust may not be able to obtain such insurance on acceptable terms in the future, if at all, and any such insurance may not provide adequate coverage against any such claims.

RISKS RELATED TO THE NATURE OF THE TRUST’S SHARES

The Trust’s shares have significant restrictions on transferability and liquidity and shareholders are required to hold the shares indefinitely.

The Trust’s shares are illiquid investments. There is currently no market for these shares and one is not likely to develop. Because there may be only a limited number of persons who purchase shares and because there are significant restrictions on the transferability of such shares under the Trust’s Declaration of Trust and under applicable federal and state securities laws, it is expected that no public market will develop. Moreover, neither the Trust nor the Managing Shareholder will provide any market for the shares. Shareholders are generally prohibited from selling or transferring their shares except in the circumstances permitted under the Declaration of Trust and applicable law, and all such sales or transfers require the Trust’s consent, which it may withhold at its sole discretion. Accordingly, shareholders have no assurance that an investment can be transferred and must be prepared to bear the economic risk of the investment indefinitely.

Shareholders are not permitted to participate in the Trust’s management or operations and must rely exclusively on the Managing Shareholder.

Shareholders have no right, power or authority to participate in the Trust’s management or decision making or in the management of the Trust’s projects. The Managing Shareholder has the exclusive right to manage, control and operate the Trust’s affairs and business and to make all decisions relating to its operation.

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The Trust’s assets are generally illiquid and any disposition of Trust assets is at the discretion of the Managing Shareholder.

The Trust’s interest in projects is illiquid. The Managing Shareholder has full discretion to determine whether any project, or any partial interest, should be sold and the terms and conditions under which such project would be sold. Consequently, subject to shareholder approvals as detailed in the Declaration of Trust, shareholders will depend on the Managing Shareholder for the decision to sell all or a portion of an asset, or retain it, for the benefit of the shareholders and for negotiating and completing the sale transaction.

The Trust indemnifies its officers, as well as the Managing Shareholder and its employees, for certain actions taken on its behalf. Therefore, the Trust has limited recourse relative to these actions.

The Declaration of Trust provides that the Trust’s officers and agents, the Managing Shareholder, the affiliates of the Managing Shareholder and their respective directors, officers and agents when acting on behalf of the Managing Shareholder or its affiliates on the Trust’s behalf, will be indemnified and held harmless by the Trust from any and all claims arising out of the Trust’s management, except for claims arising out of bad faith, gross negligence or willful misconduct or a breach of the Declaration of Trust. Therefore, the Trust may have difficulty sustaining an action against the Managing Shareholder, or its affiliates and their officers, based on breach of fiduciary responsibility or other obligations to the shareholders.

The Managing Shareholder is entitled to receive a management fee regardless of the Trust’s profitability and also receives cash distributions.

The Managing Shareholder is entitled to receive an annual management fee from the Trust regardless of whether the Trust is profitable in that year. The annual fee, payable monthly, is equal to 3% of the Trust's prior year’s net asset value. In addition to its annual management fee, the Managing Shareholder, as compensation for its management services, will receive 20% of the Trust’s cash distributions to shareholders upon the shareholders having received a certain minimum level of distributions as set out in the Declaration of Trust, even though the Managing Shareholder has not contributed any cash to the Trust. Accordingly, shareholders contribute all of the cash utilized for the Trust’s investments and activities. If the Trust’s projects are unsuccessful, the shareholders may lose 100% of their investment while the Managing Shareholder will not suffer any investment losses because it did not contribute any capital. None of the compensation to be received by the Managing Shareholder has been derived as a result of arm’s length negotiations.

Cash distributions are not guaranteed and may be less than anticipated or estimated.

Distributions depend primarily on available cash from project operations. At times, distributions have been delayed to repay the principal and interest on project or Trust borrowings, if any, or to fund other costs. The Trust’s taxable income will be taxable to the shareholders in the year earned, even if cash is not distributed.

Because the Managing Shareholder manages other electricity generation and infrastructure trusts, it may have conflicts of interest in its management of the Trust’s operations.

Shareholders will not be involved in the management of the Trust’s operations. Accordingly, they must rely on the Managing Shareholder’s judgment in such matters. Inherent with the exercise of its judgment, the Managing Shareholder will be faced with conflicts of interest. While neither the Trust nor the Managing Shareholder have specific procedures in place in the event of any such conflicting responsibilities, the Managing Shareholder recognizes that it has fiduciary duties to the Trust in connection with its position and responsibilities as Managing Shareholder and it intends to abide by such fiduciary responsibilities in performing its duties. Therefore, the Managing Shareholder and its affiliates will attempt, in good faith, to resolve all conflicts of interest in a fair and equitable manner with respect to all parties affected by any such conflicts of interest. However, the Managing Shareholder is not liable to the Trust for how conflicts of interest are resolved unless it has acted in bad faith, or engaged in gross negligence or willful misconduct.

TAX RISKS ASSOCIATED WITH AN INVESTMENT IN SHARES

The Trust is organized as a Delaware trust and the Managing Shareholder has qualified the Trust as a partnership for federal tax purposes. The principal tax risks to shareholders are that:

· The Trust may recognize income taxable to the shareholders but may not distribute enough cash to cover the income taxes owed by shareholders on the Trust’s taxable income.

· The allocation of Trust items of income, gain, loss, and deduction may not be recognized for federal income tax purposes.

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· All or a portion of the Trust’s expenses could be considered either investment expenses (which would be deductible by a shareholder only to the extent the aggregate of such expenses exceeded 2% of such shareholder’s adjusted gross income) or as nondeductible items that must be capitalized.

· All or a substantial portion of the Trust’s income could be deemed to constitute unrelated business taxable income, such that tax-exempt shareholders could be subject to tax on their respective portions of such income.

· If any Trust income is deemed to be unrelated business taxable income, a shareholder that is a charitable remainder trust could have all of its income from any source deemed to be taxable.

· All or a portion of the losses, if any, allocated to the shareholders will be passive losses and thus deductible by the shareholder only to the extent of passive income.

· The shareholders could have capital losses in excess of the amount that is allowable as a deduction in a particular year.

Although the Trust has obtained an opinion of counsel regarding the matters described in the preceding paragraph when it was established, it will not obtain a ruling from the IRS as to any aspect of the Trust’s tax status. The tax consequences of investing in the Trust could be altered at any time by legislative, judicial, or administrative action.

If the IRS audits the Trust, it could require investors to amend or adjust their tax returns or result in an audit of their tax returns.

The IRS may audit the Trust’s tax returns. Any audit issues will be resolved at the Trust level by the Managing Shareholder. If adjustments are made by the IRS, corresponding adjustments will be required to be made to the federal income tax returns of the shareholders, which may require payment of additional taxes, interest, and penalties. An audit of the Trust’s tax return may result in the examination and audit of a shareholder’s return that otherwise might not have occurred, and such audit may result in adjustments to items in the shareholder’s return that are unrelated to the Trust’s operations. Each shareholder bears the expenses associated with an audit of that shareholder’s return.

In the event that an audit of the Trust by the IRS results in adjustments to the tax liability of a shareholder, such shareholder will be subject to interest on the underpayment and may be subject to substantial penalties.

The tax treatment of the Trust cannot be guaranteed for the life of the Trust. Changes in laws or regulations may adversely affect any such tax treatment.

Deductions, credits or other tax consequences may not be available to shareholders. Legislative or administrative changes or court decisions could be forthcoming which would significantly change the statements herein. In some instances, these changes could have substantial effect on the tax aspects of the Trust. Any future legislative changes may or may not be retroactive with respect to transactions prior to the effective date of such changes. Bills have been introduced in Congress in the past and may be introduced in the future which, if enacted, would adversely affect some of the tax consequences of the Trust.

ITEM 1B. UNRESOLVED STAFF COMMENTS

Not applicable.

ITEM 2. PROPERTIES

~~Information regarding~~The ~~the~~ Trust’s ~~properties~~has isdivested ~~contained~~itself inof ~~Item~~all 1its operating assets and no longer owns any properties. ~~“Business”.~~

ITEM 3. LEGAL PROCEEDINGS

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 CourtNone. 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 $1.2 million. 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.

ITEM 4. RESERVED

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ITEM 4. RESERVED

PART II

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SECURITY HOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market Information

There has never been an established public trading market for the Trust’s Investor Shares and one is not expected to develop.

Holders

As of ~~February~~ 28January 31, ~~2010~~2011, there were 1,~~061~~069 holders of Investor Shares.

Dividends

Trust distributions for the years ended December 31, ~~2009~~2010 and ~~2008~~2009 were as follows (in thousands, except per share data):

	2009		2008
	2010		2009
Distributions to Investors	$	910,~~536~~728	$	~~985~~9,536
Distributions per Investor Share		2022,~~000~~500		220,~~065~~000
Distributions to Managing Shareholder		96420		1096

~~While~~The ~~the remaining~~Trust ~~operating~~does ~~project~~not ofanticipate additional distributions until the Trust ishas ~~for~~completed ~~sale~~the liquidation process, at which time, the Trust’s ~~does~~remaining ~~not~~cash, ~~expect~~ if any, will be distributed to ~~make~~the ~~distributions~~holders of Investor Shares and the Managing Shareholder on an 80%/20% basis.

ITEM 6. SELECTED FINANCIAL DATA

Not required.

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis should be read in conjunction with the Trust’s Audited Consolidated Financial Statements and Notes, which ~~appear~~are ~~elsewhere~~included in this Annual Report on Form 10-K beginning on page F-1. This discussion contains forward-looking statements that involve risks, uncertainties and assumptions. The Trust’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including those set forth in “Forward-Looking Statements”, ~~Item 1A. “Risk Factors”~~ and elsewhere in this Annual Report on Form 10-K.

Overview

The Trust is a Delaware trust formed on September 8, 1994. Historically, the Trust focused primarily toon ~~make~~power ~~investments in~~generation ~~projects~~facilities fueled by natural gas and ~~businesses~~renewable insources ~~the~~of ~~energy~~fuel ~~and~~located ~~infrastructure~~in ~~sectors~~the US. RRP, a New Jersey limited liability company, is the Managing Shareholder of the Trust and has direct and exclusive control over the management and operations of the Trust.

The Trust ~~focuses~~’s ~~primarily~~accompanying onconsolidated ~~small~~financial ~~scale~~statements ~~projects~~include ~~fueled~~the byaccounts ~~natural gas and renewable sources~~ of ~~fuel. These projects allowed~~ the Trust ~~to develop long-term positions in attractive specialty markets for products~~ and ~~services provided by~~ its ~~projects~~ ~~and~~former ~~companies~~investments. AsThe ~~of December 31, 2009, the~~ Trust ~~had~~owned ~~one~~a ~~remaining operating~~35.2% ~~investment~~interest in ~~the United States~~RILG, anwhich ~~investment~~was sold in aNovember ~~landfill~~2010 ~~gas-fired electric~~and ~~generating~~a ~~project~~50% ~~with~~interest ~~total~~in ~~capacity~~Maine ~~of 20.4 MW. RRIG’s capacity declined by 2.6MW~~Hydro, ~~from~~which ~~9.2MW,~~was assold ~~two gensets were decommissioned~~ in ~~the~~November ~~third quarter of~~ 2009.

~~The Trust’s~~ On ~~accompanying~~November ~~consolidated~~19, ~~financial~~2010, ~~statements include~~ the ~~accounts~~Trust, ~~of the~~ Trust. ~~The~~I, Trust’s ~~consolidated~~III ~~financial~~and ~~statements~~B ~~also~~Fund ~~include~~sold ~~the Trust’s~~all ~~35.24%~~of ~~interest~~their inrespective ~~RILG,~~limited ~~effective~~liability ~~November~~company ~~17,~~membership ~~2008~~interests ~~accounted~~in RILG for ~~under the~~an ~~equity~~initial ~~method~~aggregate gross sale price of ~~accounting~~$18.7 million, asof ~~the~~which ~~Trust~~$6.6 ~~has~~million ~~the~~was ~~ability~~allocated to ~~exercise significant~~the ~~influence~~Trust. ~~but~~The ~~does~~initial ~~not~~gross ~~control~~sale ~~the~~price ~~operating~~included ~~and~~$1 ~~financial~~million ~~policies of~~in ~~the~~estimated ~~investment.~~net ~~The~~working ~~Trust~~capital ~~owned~~of aRILG ~~50%~~which ~~interest~~was insubject ~~Maine~~to ~~Hydro~~adjustment, ~~and~~within a90 days ~~25% interest~~following inthe ~~Indeck Maine~~closing, ~~which~~to ~~were~~reflect ~~sold~~the indifference ~~November~~between ~~2009~~estimated and ~~December~~actual ~~2008, respectively~~net working capital at closing.

~~On November~~In ~~20,~~connection ~~2009,~~with ~~Maine~~the ~~Hydro~~indemnification ~~entered~~obligations ~~into~~of athe ~~purchase~~Trusts ~~and~~under ~~sale~~the interest purchase agreement, ~~and sold~~the ~~for~~Buyer ~~cash,~~held ~~all~~back $3 million of the ~~assets~~gross sale price of ~~Maine~~RILG, ~~Hydro~~of which $1.1 million was allocated to ~~KEI~~the ~~USA.~~Trust, ~~The~~for ~~total~~a ~~gross purchase~~period ~~price~~of 9 months after the closing of the sale,. ~~including~~The aholdback ~~post-closing~~period ~~adjustment~~is ~~made~~scheduled to end in ~~2010~~August ~~for~~ 2011. Subsequent to year-end, the estimated working capital atcalculation ~~the~~for ~~time~~RILG ofwas ~~the sale~~finalized, ~~totaled~~resulting in $70.32 million being owed to the Buyer, of which $30.61 million was allocated to the Trust. AThe ~~summary~~working capital adjustment resulted in a reduction of RILG’s portion of the ~~terms~~Buyer’s ~~and conditions~~holdback amount to $2.8 million, of which $1 million will be allocated to the ~~sale~~Trust. isIn ~~provided~~the absence of any claims for indemnification by the Buyer, the remaining holdback amount will be released to the Trusts in aAugust ~~Current~~2011. ~~Report~~As onof ~~Form~~the ~~8-K~~date ~~filed~~of ~~with~~ the ~~SEC~~filing onof ~~November~~this 23report, ~~2009~~the Buyer has not notified the Trusts of any claims.

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~~Prior~~On to November 1720, ~~2008~~2009, ~~the~~Maine ~~Trust~~Hydro ~~owned~~entered into a ~~64.3%~~purchase ~~interest~~and insale ~~Ridgewood~~agreement ~~Providence~~ and ~~the~~ ~~remaining~~sold ~~35.7%~~for ~~noncontrolling~~cash, ~~interest~~all ~~was owned by Trust III. The interest~~ of ~~Trust III was presented as noncontrolling interest in~~ the ~~accompanying consolidated~~assets ~~statements~~ of ~~operations.~~Maine OnHydro ~~November~~to ~~17,~~KEI ~~2008,~~USA. ~~the~~The ~~Trust~~total ~~and~~gross ~~other affiliated~~proceeds ~~entities~~from ~~agreed~~the ~~to contribute their interest in Ridgewood Providence~~sale, ~~RRIG,~~ ~~RIGM~~including ~~and RPPC to~~ a ~~new~~post-closing ~~entity,~~adjustment ~~RILG.~~made ~~The Trust contributed its 64.3% interest~~ in ~~Ridgewood~~January ~~Providence~~2010 ~~in exchange~~ for aworking ~~35.24%~~capital ~~interest~~at ~~in RILG. Effective November 17, 2008,~~ the ~~Trust’s~~time ~~interest~~of ~~in RILG is accounted for using~~ the ~~equity~~sale, ~~method~~totaled of$7.3 ~~accounting~~million, ~~and~~of ~~therefore,~~which ~~the~~$3.6 ~~Trust~~million ~~no longer~~was ~~consolidates~~allocated to the ~~assets, liabilities, revenues and expenses of Ridgewood Providence~~Trust.

On November 19, 2010, the date of the sale of RILG, the Trust’s ~~revenue is~~ ~~derived~~Plan ~~from~~of Dissolution became effective. Under the ~~sale~~Plan of ~~electricity~~Dissolution, ~~generated~~the business of the Trust shifted, and became limited to the ~~sale~~disposal of ~~related~~its ~~RPS Attributes~~remaining assets and resolution of its remaining liabilities. ~~For~~Upon the ~~year~~completion ~~ended~~of ~~December~~these 31activities, ~~2009~~if successful, ~~RILG~~the ~~derived~~Managing ~~$4.4~~Shareholder ~~million,~~expects ~~or 31%,~~to ofdistribute ~~its~~any ~~annual~~remaining ~~revenues~~cash ~~from~~to the ~~sale~~Trust’s ofshareholders ~~RPS~~and ~~Attributes.~~then Asproceed ~~discussed~~to ~~in Item~~terminate ~~1A.~~the ~~"Risk~~Trust ~~Factors",~~and its reporting obligations under the ~~supply~~Exchange Act. Under the Plan of ~~RPS~~Dissolution, ~~Attributes~~the Managing Shareholder has ~~been~~sole ~~increasing~~authority to conduct the Trust’s dissolution, liquidation and ~~is expected~~termination towithout ~~continue~~additional toshareholder ~~increase~~approval. inAs ~~coming~~of ~~years~~the date of this filing, ~~which~~the Trust has ~~resulted~~not inbeen ~~a decrease~~liquidated, primarily indue to holdback amounts due from the ~~price~~Buyer of ~~RPS Attributes~~RILG.

~~Historical operating~~Liquidation ~~revenues~~Basis ~~and cost~~ of revenues of the Trust for the 2008 period have been derived from the Ridgewood Providence’s operations. As the Trust no longer consolidates Ridgewood Providence, and instead accounts for its investment in RILG as an equity interest, the Trust does not anticipate having any future reported revenues and cost of revenues.Accounting

On The Trust’s consolidated financial statements for periods prior to November 320, ~~2009,~~2010 ~~RILG~~were ~~received~~prepared ~~notice~~on ~~from~~ the ~~DOE~~going ~~that~~concern itbasis ~~had~~of ~~been~~accounting, ~~awarded~~which ~~a grant~~contemplates realization of ~~$15~~assets ~~million~~and ~~towards~~satisfaction ~~the~~of ~~purchase~~liabilities ofin ~~equipment~~the ~~relating~~normal tocourse ~~RILG expansion~~of business. ~~The~~Upon ~~final~~the ~~detail~~effectiveness of the ~~award~~Trust’s isPlan ~~subject~~of toDissolution ~~final~~on ~~contract negotiations~~November ~~between~~20, ~~RILG~~2010, ~~and~~the Trust adopted the ~~DOE~~liquidation basis of accounting. AsThis abasis ~~result~~of accounting is considered appropriate when, ~~the~~among ~~exact~~other ~~amount~~things, ~~and~~liquidation ~~timing~~ of the ~~receipt~~Trust ofis ~~any~~probable. ~~award~~Under this basis of accounting, ~~cannot~~assets ~~currently~~are bevalued ~~predicted~~at their estimated net realizable values and liabilities are valued at their estimated settlement amounts. The valuation of assets and liabilities requires management to make significant estimates and assumptions.

~~The Managing~~Upon ~~Shareholder~~conversion isto ~~marketing~~the ~~RILG~~liquidation ~~for~~basis ~~sale~~of accounting, the Trust accrued known estimated values of assets expected to be received and known estimated costs expected to be incurred during liquidation. ~~The~~On ~~Managing~~an ~~Shareholder~~ongoing ~~cannot predict~~basis, the ~~timing~~Trust ofevaluates the ~~sale~~estimates and assumptions that could have a significant impact on the Trust’s reported net assets in liquidation. Actual amounts may differ materially and adversely from these estimates. If there are delays in liquidating the Trust, actual costs incurred during the liquidation process orwould ~~whether~~increase, ~~any~~reducing ~~sale~~net ~~will occur~~assets available in liquidation and for future distributions to shareholders.

The sale of Maine Hydro, Indeck Maine and the RILG reorganization have significantly impacted the comparability of period-to-period financial statements.

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 consolidated financial statements, which have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). In preparing these financial statements, the Trust is required to make certain estimates, judgments and assumptions that affect the reported ~~amounts~~amount of the Trust’s assets, liabilities, revenues and expenses, including the disclosure of contingent assets and liabilities, as well as the reported amounts of changes in net assets. The estimates also affect the reported estimated value of net realizable assets and settlement of 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 consolidated financial statements. ~~The Trust believes the following critical accounting policies affect the more significant estimates and assumptions used in the preparation of the Trust’s consolidated financial statements.~~

~~Revenue Recognition~~Results of Operations and Changes in Financial Condition

~~Power generation~~The ~~revenue~~consolidated isstatements ~~recorded in the month~~ of ~~delivery,~~operations ~~based~~and on the ~~estimated volumes~~statements ~~sold~~of tocash ~~customers~~flows atare ~~rates~~presented ~~stipulated~~on ina ~~the~~going ~~electric~~concern ~~power~~basis ~~sales contract.~~of ~~Adjustments~~accounting ~~are~~and ~~made~~therefore toonly ~~reflect~~include ~~actual~~results ~~volumes~~for ~~delivered~~the ~~when~~period ~~the actual~~from ~~volumetric~~January ~~information~~1, ~~subsequently~~2010 ~~becomes~~to ~~available.~~November ~~Billings~~19, ~~to customers~~2010 and for ~~power~~the ~~generation~~year ~~generally~~ended ~~occurs~~December ~~during~~31, ~~the~~2009 ~~month~~and ~~following delivery.~~as ~~Final~~a ~~billings~~result, dono ~~not~~comparative ~~vary~~discussion ~~significantly~~is ~~from estimates~~presented.

Renewable attribute revenue is derived from the sale of the RPS Attributes. Qualified renewable electric generation facilities produce RPS Attributes when they generate electricity. Renewable attribute revenue is recorded in the month in which the RPS Attributes are delivered, as Ridgewood Providence has substantially completed its obligations for entitled benefits, represented by the underlying generation of power within specific environmental requirements.5

Unbilled Receivables

Unbilled receivables consists of revenue derived from the sale of RPS Attributes that has been earned but for which no invoices have been generated under executed commitments as the certificates to be exchanged have not been issued by the appropriate regulatory body. The issuance of renewable certificates by the regulatory body only occurs once every three months.

Income Taxes

No provision is made for income taxes in the Trust’s consolidated financial statements as the net income or losses of the Trust are passed through and included in the income tax returns of the individual shareholders of the Trust.

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~~Results~~ Presented below is a reconciliation of ~~Operations~~shareholders’ equity at November 19, 2010, measured on a going concern basis, and net assets at December 31, 2010, measured on a liquidation basis (in thousands):

Revenues and cost of revenues for the year ended December 31, 2008 were derived from Ridgewood Providence’s operations. As a result of the reorganization affecting Ridgewood Providence, effective November 17, 2008, the Trust recorded its interest in the RILG investment using the equity method of accounting, which eliminated the need to consolidate Ridgewood Providence’s results of operations in the 2009 period.

Shareholders’ equity at November 19, 2010 (going concern basis	$	13,364
Estimated future management fees to be incurred during liquidation		(79	)
Distributions to shareholders in December 2010		(11,148	)
Estimated professional fees to be incurred during liquidation1		(296	)
Other estimated liquidation accruals2		(599	)
Net assets in liquidation at December 31, 2010	$	1,242

~~General and~~1 ~~administrative~~This ~~expenses~~includes ~~decreased~~legal, ~~$2.8~~accounting ~~million from~~and ~~$3.4~~other ~~million~~professional ~~for the~~fees ~~year~~paid ~~ended~~since ~~December~~November 3119, ~~2008~~2010 to ($~~0.6~~16 ~~million~~through ~~for~~December ~~the~~31, ~~same~~2010) ~~period~~and inexpected ~~2009. This decrease was primarily due~~ to ~~the~~be ~~change~~incurred in ~~accounting~~the ~~for~~future ~~its~~relating ~~investment in~~to ~~Ridgewood~~the ~~Providence~~wind ~~and~~down ~~also~~activities ~~due~~of tothe ~~a decrease in professional fees~~Trust.

~~The~~2 ~~Trust recorded~~This ~~equity~~includes ~~loss~~insurance, ofseverance ~~$2.7 million~~ and ~~$0.3~~other ~~million~~headcount ~~from~~expenses ~~its~~paid ~~investment~~since ~~in RILG~~November ~~in the 2009 and 2008 period~~19, ~~respectively.~~2010 ~~RILG~~($208 ~~incurred~~through aDecember ~~loss in the 2009 period compared to Ridgewood Providence’s operating results in the 2008 period~~31, ~~primarily~~ ~~due~~2010) ~~to an increase in depreciation expense resulting from a change in estimated useful lives of a portion of the remaining plant assets as of November 2008~~ and ~~also~~expected ~~due~~ to anbe ~~impairment~~incurred ~~charge recorded~~ in the ~~third~~future ~~quarter~~relating ofto ~~2009 when decommissioned gensets were fully impaired as~~ the ~~Managing~~wind ~~Shareholder~~down ~~made the~~activities ~~decision~~ of not repairing them and their having nominal salvage value. RILG operating results includes $0.9 million and $1.8 million of engineering development and legal fees relating to planned plant expansion for the ~~years ended December 31, 2009 and 2008, respectively~~Trust.

InFor ~~July 2009,~~ the ~~purchaser~~purposes toof ~~whom RILG sold~~ the ~~output~~Trust’s ~~from~~estimates ~~approximately 60%~~ of ~~its installed~~fees ~~capacity~~and ~~under~~expenses ~~a long-term electric power sales contract, elected~~ to ~~exercise~~ ~~its~~be ~~one-time~~incurred ~~option~~during ~~to terminate its agreement~~liquidation, ~~effective~~management ~~January~~has ~~2010. The~~assumed ~~aggregate~~that ~~price for~~ the ~~output~~liquidation ~~sold~~of ~~under~~the ~~this~~Trust ~~long-term~~will ~~contract~~be ~~exceeds current~~completed ~~open~~by ~~market~~September ~~prices~~30, 2011. ~~RILG~~If ~~is currently seeking alternate arrangements for~~ the ~~sale~~liquidation of the ~~output~~Trust ofis ~~its~~not ~~electricity~~completed ~~generating~~by ~~capacity.~~that ~~Whether~~date, ~~this effort~~the ~~will~~actual beexpenses ~~successful~~that ~~and what~~ the ~~results~~Trust towill ~~RILG~~incur will belikely ~~if successful cannot be determined at this time~~increase.

For the year ended December 31, 2009, the Trust recorded equity loss of $0.4 million from its investment in Maine Hydro compared to equity income of $0.3 million for the same period in 2008. The decrease in equity income of $0.7 million in 2009 was primarily due to a decrease in power generation revenue by approximately 57% resulting from lower electricity prices compared to the 2008 period. At the end of 2008, eleven long-term electric power sales contracts expired and going forward, approximately 74% of Maine Hydro revenue was generated through electric output sold at market price, the average rate of which was significantly lower than prior contract price.

During the fourth quarter of 2009, Maine Hydro entered into a purchase and sale agreement and sold for cash, all of the assets of Maine Hydro to KEI USA. As a result of this transaction, the Trust recorded a $2.2 million gain on sale of Maine Hydro. See Item 1. “Business – Maine Hydro” for further discussion of the sale.

For the year ended December 31, 2008, the Trust recorded equity loss of $0.5 million from its investment in Indeck Maine. During the fourth quarter of 2008, Indeck Maine completed the sale and transferred 100% of the membership interests in Indeck Maine to Covanta. As a result of this transaction, the Trust recorded a $7.2 million gain on sale of Indeck Maine. See Item 1. “Business – Indeck Maine” for further discussion of the sale.

For the year ended December 31, 2008, the Trust recorded interest income of $0.4 million which represented interest earned on Indeck Maine’s note receivable balance.

For the year ended December 31, 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 $0.6 million for the year ended December 31, 2008, relating to the portion of Ridgewood Providence owned by Trust III.

Liquidity and Capital Resources

At December 31, 2009, the Trust had cash and cash equivalents of $7.8 million, a decrease of $3.9 million from $11.7 million at December 31, 2008. The cash flows for the year ended December 31, 2009 were $2.4 million provided by operating activities, $3.3 million provided by investing activities and $9.6 million used in financing activities.

In 2009, the Trust’s operating activities provided cash of $2.4 million, as compared to cash used of $1.6 million in 2008. This increase in cash flow provided by operating activities of $4 million in the 2009 period was primarily due to the collection of amounts related to Indeck Maine’s operations, net of related distributions to Trust V and IES.

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In 2009, the Trust’s investing activities provided cash of $3.3 million which represents proceeds received on the disposition of Maine Hydro. In 2008, the Trust’s investing activities provided cash of $14 million which represents proceeds received on the disposition of Indeck Maine.

The Trust used cash for financing activities of $9.6 million and $1.5 million in 2009 and 2008, respectively, relating to the cash distributions to the shareholders and noncontrolling interest.

Future Liquidity and Capital Resource Requirements

The Trust ~~expects~~ believes it has sufficient cash ~~flows~~and ~~from~~cash ~~its~~equivalents ~~equity~~to ~~investments,~~provide ~~along~~working ~~with~~capital ~~existing~~for ~~cash,~~the ~~cash equivalents~~next ~~and~~12 months. ~~borrowing~~The ~~capabilities~~Trust ~~will~~intends beto ~~sufficient~~distribute excess cash, if any, to ~~provide~~its ~~working capital~~shareholders ~~and~~after ~~fund~~liquidating ~~capital~~its ~~expenditures~~assets ~~for~~and ~~the~~satisfying ~~next~~its ~~12 months~~liabilities.

Off-Balance Sheet Arrangements

None.

Contractual Obligations and Commitments

RILG is obligated, under the terms of various agreements with RIRRC, to construct a new electric generating facility at the Landfill and 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 or June 1, 2013None. RILG is also 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 million. 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. If RILG fails to comply with these obligations, it could be subject to monetary damages and also forfeit its contracted gas rights. While the full cost of the expansion activities is not yet known, it is the opinion of the Managing Shareholder that RILG has insufficient capital to meet all of its obligations to expand its Landfill operations. As a result, for the development efforts to be completed, RILG must either be sold to entities that can invest in the development of these projects or 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.

Recent Accounting Pronouncements

For information related to recent accounting pronouncements, see Note 2. “Summary of Significant Accounting Policies”, of the Notes to Consolidated Financial Statements, beginning on page F-1 of this Form 10-K.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not required.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

The audited consolidated financial statements of the Trust, including the notes thereto and the report of the Trust’s ~~Independent~~independent ~~Registered~~registered ~~Public~~public ~~Accounting~~accounting ~~Firm~~firm thereon, are presented beginning on page F-1 of this Form 10-K.

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

ITEM 9A. CONTROLS AND PROCEDURES

Evaluation of Disclosure 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 Exchange Act is recorded, processed, summarized and reported within the time periods specified in the 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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Management’s Annual Report on Internal Control over Financial Reporting

The Trust’s management is responsible for establishing and maintaining adequate internal control over financial reporting for the Trust. The Trust’s internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with policies or procedures may deteriorate.

Management of the Trust, including its Chief Executive ~~Officer~~ and ~~Chief~~ Financial Officer, assessed the effectiveness of the Trust’s internal control over financial reporting as of December 31, ~~2009~~2010. In making this assessment, management of the Trust used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in Internal Control over Financial Reporting — Guidance for Smaller Public Companies. Based on this evaluation, the Trust’s management concluded that as of December 31, ~~2009~~2010, the Trust’s internal ~~controls~~control over financial reporting ~~were~~was effective.

This Annual Report on Form 10-K does not include an attestation report of the Trust’s independent registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by the Trust’s independent registered public accounting firm pursuant to ~~temporary rules of the~~ SEC rules that permit the Trust to provide only management’s report in this Annual Report.

Changes in Internal Control over Financial Reporting

~~The Trust’s~~During the fourth quarter of 2010, the officer positions of Chief Executive Officer and Chief Financial Officer ~~have~~were combined due to staffing reductions. Management has concluded that this potential lack of segregation of duties is not a significant deficiency due to the significantly reduced activities of the Trust as it is in the process of liquidation. As a result, the Trust’s Chief Executive and Financial Officer has concluded that there ~~was~~has been no change in the Trust's internal control over financial reporting that occurred during the fiscal quarter ended December 31, ~~2009~~2010 that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.

ITEM 9B. OTHER INFORMATION

None.

PART III

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

The Trust’s Managing Shareholder, RRP, was originally founded in 1991. The Managing Shareholder has very broad authority, including the authority to elect executive officers of the Trust.

Each of the executive officers of the Trust also serves in a similar capacity as an executive officer of the Managing Shareholder. The executive officers of the Trust are as follows:

Name, Age and Position with Registrant	Officer Since	~~Officer Since~~
Randall D. Holmes, 62
Robert E. Swanson, 64
President and Chief Executive Officer		2004
Chairman	1997
Robert E. Swanson, 63
Jeffrey H. Strasberg, 53
Chairman		1997
President and Chief Executive and Financial Officer	2007
Jeffrey H. Strasberg, 52
Daniel V. Gulino, 50
Executive Vice President and Chief Financial Officer		2007
Senior Vice President, General Counsel and Secretary	2000
Daniel V. Gulino, 49
Senior Vice President, General Counsel and Secretary		2000

Set forth below is the name of, and certain biographical information regarding the executive officers of the Trust:

Randall D. Holmes has served as President and Chief Executive Officer of the Trust, the Managing Shareholder and other trusts and limited liability companies since January 2006 and served as Chief Operating Officer of the Trust, the Managing Shareholder and affiliated Ridgewood Power trusts and limited liability companies from January 2004 until January 2006. Prior to such time, Mr. Holmes served as the primary outside counsel to and has represented the Managing Shareholder and its affiliates since 1991. Immediately prior to being appointed Chief Operating Officer, Mr. Holmes was counsel to Downs Rachlin Martin PLLC (“DRM”). DRM is one of the primary outside counsel to the Trust, the Managing Shareholder and its affiliates. Mr. Holmes is a graduate of Texas Tech University and the University of Michigan Law School. He is a member of the New York State Bar.7

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Robert E. Swanson has served as Chairman of the Trust, the Managing Shareholder and affiliated trusts and limited liability companies since their inception. From their inception until January 2006, Mr. Swanson also served as their Chief Executive Officer. Mr. Swanson is the controlling member of the Managing Shareholder, as well as Ridgewood Energy ~~and~~Corporation (“Ridgewood ~~Capital~~Energy”), Ridgewood Capital Management LLC (“Ridgewood Capital”) and other affiliates of the Trust. Mr. Swanson has been President and registered principal of Ridgewood Securities Corporation (“Ridgewood Securities”) since its formation in 1982, has served as the Chairman of the Board of Ridgewood Capital since its organization in 1998 and has served as Chief Executive Officer of Ridgewood Energy since its inception in 1982. Mr. Swanson is a member of the New York State and New Jersey State Bars, the Association of the Bar of the City of New York and the New York State Bar Association. He is a graduate of Amherst College and Fordham University Law School.

Jeffrey H. Strasberg has served as Executive Vice President and Chief Financial Officer of the Trust, the Managing Shareholder and affiliated trusts and limited liability companies since May 2007. In November 2010, Mr. Strasberg was also appointed to serve as President and Chief Executive Officer of the Trust, the Managing Shareholder and affiliated trusts. Mr. Strasberg also serves as Senior Vice President and Chief Financial Officer of Ridgewood Capital and affiliated limited liability companies and Ridgewood Securities and has done so since April 2005. Mr. Strasberg joined Ridgewood Capital in 1998 where his initial responsibilities were to serve as interim Chief Financial Officer of various portfolio companies in which Ridgewood Capital trusts had interests. Mr. Strasberg is a Certified Public Accountant and a graduate of the University of Florida.

Daniel V. Gulino has served as Senior Vice President and General Counsel of the Trust, the Managing Shareholder and affiliated trusts and limited liability companies since 2000 and was appointed Secretary in February 2007. Mr. Gulino also serves as Senior Vice President and General Counsel of Ridgewood Energy, Ridgewood Capital, Ridgewood Securities and affiliated trusts and limited liability companies and has done so since 2000. Mr. Gulino is a member of the New Jersey State and Pennsylvania State Bars. He is a graduate of Fairleigh Dickinson University and Rutgers University School of Law.

Board of Directors and Board Committees

The Trust does not have its own board of directors or any board committees. The Trust relies upon the Managing Shareholder to perform the ~~function~~functions that a board of directors or its committees would otherwise perform. Officers of the Trust are not directly compensated by the Trust, and all compensation matters are addressed by the Managing Shareholder, as described in Item 11. “Executive Compensation”. Because the Trust does not maintain a board of directors and because officers of the Trust are compensated by the Managing Shareholder, the Managing Shareholder believes that it is appropriate for the Trust not to have a nominating, audit or compensation committee.

Managing Shareholder

The Trust’s ~~Management~~operates ~~Agreement~~pursuant to the terms of a management agreement with the Managing Shareholder (“Management Agreement”). The Trust’s Management Agreement details how the Managing Shareholder is to render management, administrative and investment advisory services to the Trust. Specifically, the Managing Shareholder performs (or may arrange for the performance of) the management and administrative services required for the operation of the Trust. Among other services, the Managing Shareholder administers the Trust’s accounts and handles relations with Trust’s shareholders, provides the Trust with office space, equipment and facilities and provides other services necessary for its operation, and conducts the Trust’s relations with custodians, depositories, accountants, attorneys, brokers and dealers, corporate fiduciaries, insurers, banks and others, as required.

The Managing Shareholder also has been responsible for making investment and divestment decisions for the Trust, subject to the provisions of the Declaration of Trust. The Managing Shareholder is obligated to pay the compensation of the personnel, and the administrative and service expenses, necessary to perform the foregoing obligations. The Trust pays all other expenses of the Trust, including transaction expenses, valuation costs, expenses of preparing, printing and ~~printing~~ filing periodic reports for shareholders and the SEC, postage for Trust mailings, SEC filing fees, interest, taxes, legal, accounting and consulting fees, litigation expenses and other expenses properly payable by the Trust. The Trust reimburses the Managing Shareholder for all such Trust expenses that are paid by the Managing Shareholder.

As compensation for the Managing Shareholder’s performance under the Management Agreement, the Trust is obligated to pay the Managing Shareholder an annual management fee described below in Item 13. “Certain Relationships and Related Transactions, and Director Independence”.

Each investor in the Trust consented to the terms and conditions of the Management Agreement by subscribing to acquire Investor Shares in the Trust. The Management Agreement is subject to termination at any time on 60 days prior notice by a majority in interest of the shareholders or the Managing Shareholder. The Management Agreement is subject to amendment by the parties upon the approval of a majority in interest of the investors.

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Section 16(a) Beneficial Ownership Reporting Compliance

Section 16(a) of the Exchange Act, requires the Trust’s executive officers and directors, and persons who own more than 10% of a registered class of the Trust’s equity securities, to file reports of ownership and changes in ownership with the SEC. During the past fiscal year, the Managing Shareholder believes that all filings required to be made by the Trust’s executive officers pursuant to Section 16(a) of the Exchange Act have been timely filed with the SEC. The Trust has no directors or 10% shareholders.

Code of Ethics

In March 2004, the Managing Shareholder, for itself and for the Trust and its affiliates, adopted a Code of Ethics applicable to the principal executive officer, principal financial officer, and principal accounting officer or controller (or any persons performing similar functions) of each such entity. A copy of the Code of Ethics is filed as Exhibit 14 to this Annual Report on Form 10-K.

ITEM 11. EXECUTIVE COMPENSATION

~~During 2009,~~The ~~the executive officers of the~~ Trust ~~did~~does not ~~receive compensation~~ directly ~~from~~ ~~the~~compensate ~~Trust or any of~~ its ~~subsidiaries~~executives. ~~They~~Notwithstanding, ~~provide managerial services to~~ the ~~Trust in accordance with the terms of the Trust’s Declaration of Trust and the Operating Agreement. The~~ Managing Shareholder ordoes ~~affiliated~~not ~~management companies,~~believe ~~determines~~its ~~and~~compensation ~~pays~~practices ~~the~~are ~~compensation~~likely ofto ~~these~~have ~~officers.~~a ~~Each~~material ofadverse ~~the executive~~effect ~~officers~~on of the Trust. ~~also~~The ~~serves~~Managing asShareholder anbelieves ~~executive~~that ~~officer~~its ofcompensation ~~the Managing~~policies ~~Shareholder~~ and ~~other~~practices ~~trusts~~do ~~managed~~not byencourage ~~the~~excessive ~~Managing~~risk ~~Shareholder and its affiliates~~taking.

~~The~~During ~~Trust does,~~2010 ~~however~~and 2009, ~~pay~~the executive officers of the ~~Managing~~Trust ~~Shareholder~~did anot ~~management~~receive ~~fee~~compensation ~~and~~directly from the ~~Managing Shareholder~~Trust ~~may~~or ~~determine~~any of its subsidiaries. They provide managerial services to ~~use~~the aTrust ~~portion~~in accordance with the terms of the ~~proceeds~~Trust’s ~~from~~Declaration of Trust and the Management Agreement. The Managing Shareholder, directly or through affiliated management ~~fee~~ tocompanies, ~~pay~~determines and pays the compensation toof these officers. Each of the executive officers of the Trust. ~~See~~also ~~Item~~serves ~~13. “Certain~~as ~~Relationships~~an ~~and~~executive ~~Related~~officer ~~Transactions,~~of the Managing Shareholder and ~~Director~~other ~~Independence”~~funds ~~for more~~managed ~~information~~by ~~regarding~~the Managing Shareholder ~~compensation~~ and ~~payments~~its ~~to affiliated entities~~affiliates.

AsThe ~~part of~~Trust ~~the~~does, ~~sale~~however, ofpay ~~various assets of~~ the ~~Trust,~~Managing ~~affiliated~~Shareholder ~~trusts~~a ~~and~~management ~~assets~~fee ofunder the ~~Managing~~ ~~Shareholder~~Management Agreement, and the Managing Shareholder ~~has~~may ~~adopted~~determine ~~the~~to ~~Senior~~use ~~Executive Bonus~~a ~~Plan~~portion ~~(“Plan”),~~of ~~which~~the ~~provides~~proceeds ~~for~~from ~~incentive payments to~~ the ~~participants in~~management ~~the~~fee ~~Plan.~~to ~~Any~~pay ~~payments~~compensation ~~made pursuant~~ to ~~this~~executive ~~Plan~~officers ~~will~~of bethe ~~borne~~Trust. ~~entirely~~See ~~by the~~Item ~~Managing~~13. ~~Shareholder~~“Certain Relationships and ~~not~~Related byTransactions, ~~any~~and ofDirector ~~the~~Independence” ~~trusts~~for ~~managed~~more byinformation ~~the~~regarding Managing Shareholder. ~~Pursuant~~compensation and payments to ~~the~~affiliated ~~Plan:~~entities.

· Once a relevant trust reaches payout, three officers of the Managing Shareholder, including Randall D. Holmes, President and Chief Executive Officer of the Trust and the Managing Shareholder will receive, in the aggregate, depending on the trust, 25% to 30% (25% in regards to the Trust) of any payments received by the Managing Shareholder from the various trusts it manages resulting from the sale of assets by the trusts.

· Participants in the Plan will receive bonus payments in the aggregate at the rate of 30% of any payment received by the Managing Shareholder for sales of assets owned by it and not a trust.

· The Managing Shareholder will generally fund the Plan as it receives any payments from a trust from the sale of its assets once that trust reaches payout.

As of the date of this filing, no payment has been made pursuant to this Plan.

Under the Plan, the three officers have also agreed to be employed by any purchasers of assets from the trusts as requested by the Managing Shareholder, for up to one year. To the extent that the compensation received by any of them from any such purchase is less than the base salary that officer currently receives from the Managing Shareholder, the Managing Shareholder has agreed to pay to that officer 75% of the difference, if any, for one year, even if such officer leaves the employ of the purchaser prior to the end of such one year period, except in the event of death or disability.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

The following table sets forth information with respect to the beneficial ownership of the Trust’s Investor Shares as of ~~February~~January 2831, ~~2010~~2011 (no person owns more than 5% of the outstanding Investor Shares) by:

· each executive officer of the Trust (there are no directors); and

· all of the executive officers of the Trust as a group.

Beneficial ownership is determined in accordance with SEC rules and includes voting or investment power with respect to the securities. Except as indicated by footnote, and subject to applicable community property laws, ~~the~~each ~~persons~~person named in the table below ~~have~~has sole voting and investment power with respect to all Investor Shares shown as beneficially owned by ~~them~~that person. Percentage of beneficial ownership is based on 476.8 Investor Shares outstanding at ~~February~~January 2831, ~~2010~~2011. Other than as set forth below, no officer of the Trust owns any shares of the Trust.

Name of beneficial owner	Number of shares (1)		Percent
Ridgewood Renewable Power LLC (Managing Shareholder) Robert E. Swanson, controlling member		2.0331		*
Executive officers as a group		2.0331		*

* Represents less than one percent.

(1)

Does not include a management share in the Trust representing the beneficial interests and management rights of the Managing Shareholder in its capacity as the Managing Shareholder. The management share owned by the Managing Shareholder is the only issued and outstanding management share of the Trust. The material management rights and obligations of the Managing Shareholder are described in further detail in Item 1. “Business – Managing Shareholder”. The Managing Shareholder’s beneficial interest in cash distributions of the Trust and its allocable share of the Trust’s net profits and net losses and other items attributable to the management share are described in further detail below in Item 13. “Certain Relationships and Related Transactions, and Director Independence”.

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Name of beneficial owner		Number of shares (1)	Percent
Ridgewood Renewable Power LLC (Managing Shareholder) Robert E. Swanson, controlling member		2.0331	*
Executive officers as a group		2.0331	*
*	Represents less than one percent.
(1)	Does not include a management share in the Trust representing the beneficial interests and management rights of the Managing Shareholder in its capacity as the Managing Shareholder. The management share owned by the Managing Shareholder is the only issued and outstanding management share of the Trust. The management rights of the Managing Shareholder are described in further detail in Item 1. “Business – Managing Shareholder”. The Managing Shareholder’s beneficial interest in cash distributions of the Trust and its allocable share of the Trust’s net profits and net losses and other items attributable to the management share are described in further detail below in Item 13. “Certain Relationships and Related Transactions, and Director Independence”.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Under the terms of the Trust’s Management Agreement, the Trust paid the Managing Shareholder an annual management fee of $0.73 million and $0.57 million for the years ended December 31, ~~2009~~2010 and ~~2008~~2009, respectively, asan ~~compensation~~amount ~~for the services the Managing Shareholder provides to the Trust, which was~~ equal to 3% of the Trust’s prior year net asset value, as compensation for the services the Managing Shareholder provides to the Trust. The management fee is to be paid in monthly installments and, to the extent that the Trust does not pay the management fee on a timely basis, the Trust accrues interest at an annual rate of 10% on the unpaid balance.

Under ~~the~~ an Operating Agreement with the Trust, RPM ~~provides~~provided management, purchasing, engineering, planning and administrative services to the projects operated by the Trust. RPM ~~charges~~charged the projects at its cost for these services and for the allocable amount of certain overhead items. Allocations of costs ~~are~~were on the basis of identifiable direct costs or in proportion to amounts invested in projects managed by RPM. For the years ended December 31, ~~2009~~2010 and ~~2008~~2009, RPM charged the Trust’s projects $0.62 million and $0.96 million, respectively, for overhead items allocated in proportion to the amount invested in projects managed. In addition, for the years ended December 31, ~~2009~~2010 and ~~2008~~2009, RPM charged the Trust’s projects $63.58 million and $266.85 million, respectively, for identifiable direct expenses ~~allocated in proportion to the amount invested in projects managed~~. These charges may not be indicative of ~~costs~~cost that would have been incurred if the projects were not operated by RPM. While in liquidation, RPM will continue to provide nominal administrative services to the Trust.

Under the Declaration of Trust, the Managing Shareholder is entitled to receive, concurrently with the shareholders of the Trust, other than the Managing Shareholder, 1% of all distributions from operations made by the Trust in a year until the shareholders have received distributions in that year equal to 14% per annum of their equity contribution. Thereafter, the Managing Shareholder is entitled to receive 20% of the distributions for the remainder of the year. The Managing Shareholder is entitled to receive 1% of the proceeds from dispositions of Trust property until the shareholders, other than the Managing Shareholder, have received cumulative distributions equal to their original investment (“Payout”). After Payout, the Managing Shareholder is entitled to receive 20% of all remaining distributions of the Trust. Distributions to the Managing Shareholder for the years ended December 31, ~~2009~~2010 and ~~2008~~2009 were $0.14 million and $100.1 million,~~000,~~ respectively. The Trust ~~has~~reached ~~not~~Payout ~~yet~~in ~~reached~~December ~~Payout~~2010.

~~Income~~The Trust’s income is allocated to the Managing Shareholder until the profits so allocated equal distributions to the Managing Shareholder. Thereafter, income is allocated among the shareholders, other than the Managing Shareholder, in proportion to their ownership of Investor Shares. If the Trust has net losses for a fiscal period, the losses are allocated 99% to the shareholders, other than the Managing Shareholder, and 1% to the Managing Shareholder, subject to certain limitations as set forth in the Declaration of Trust. Losses ~~Amounts~~ allocated to shareholders , other than the Managing Shareholder, are apportioned among them in proportion to their ~~capital~~ownership ~~contributions~~of Investor Shares.

Under the terms of the Declaration of Trust, if the Adjusted Capital Account (as defined in the Declaration of Trust) of a shareholder other than the Managing Shareholder would become negative using General Allocations (as defined in the Declaration of Trust), losses and expenses will be allocated to the Managing Shareholder. Should the Managing Shareholder’s Adjusted Capital Account become ~~negative~~ ~~and items of income or gain occur~~negative, then any such items of income or gain will be allocated entirely to the Managing Shareholder until such time as the Managing Shareholder’s Adjusted Capital Account becomes positive. This mechanism does not change the allocation of cash distributions, as discussed above.

In accordance with the Declaration of Trust, upon or prior to the first distribution by the Trust in liquidation, the Managing Shareholder is required to contribute to the capital of the Trust an amount equal to any deficit in the tax basis capital account of the Managing Shareholder calculated just prior to the date of such distribution. As of December 31, ~~2008~~2010, ~~the~~no ~~last date~~ such ~~calculation~~ contribution was ~~made, the Managing Shareholder would have been~~ required ~~to contribute $0~~.~~1 million to the Trust prior to the Trust making any liquidating distributions.~~

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ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

The following table presents fees and services rendered by Grant Thornton LLP, the Trust’s principal independent registered public accounting firm, for the years ended December 31, ~~2009~~2010 and ~~2008~~ 2009 (in thousands). :

	2009		2008
	2010		2009
Audit fees	$	~~159~~77	$	~~371~~159
Tax fees1		21		27
Tax fees		21		21
Total	$	~~180~~98	$	~~398~~180

~~1 Tax fees consisted principally of tax compliance, planning and advisory services as well as tax examination services.~~10

Audit Committee Pre-Approval Policy

The Managing Shareholder pre-approves on an annual basis all audit and permitted non-audit services that may be performed by the Trust’s independent registered public accounting firm, including the audit engagement terms and fees, and also pre-approves any detailed types of audit-related and permitted tax services to be performed during the year. The Managing Shareholder pre-approves permitted non-audit services on an engagement-by-engagement basis. All of the services listed in the table above were pre-approved by the Managing Shareholder.

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~~PART IV~~Tax fees consisted principally of tax compliance, planning and advisory services as well as tax examination services. For the years ended December 31, 2010 and 2009, the Trust did not incur any audit related fees.

Pre-Approval Policy and Procedures

The Trust does not have a board of directors or any board committees. The Trust relies upon the Managing Shareholder to perform the functions that a board of directors or its committees would otherwise perform. The Managing Shareholder pre-approves on an annual basis all audit services that may be performed by the Trust’s independent registered public accounting firm, including the audit engagement terms and fees, and also pre-approves any detailed types of audit-related and permitted tax services to be performed during the year. The Managing Shareholder pre-approves permitted non-audit services, if any, on an engagement-by-engagement basis. All services performed for the Trust by its independent registered public accounting firm during the 2010 and 2009 periods were pre-approved by the Managing Shareholder.

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PART IV

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

	(a)(1)	Consolidated Financial Statements
		See the Index to Consolidated Financial Statements on page F-1 of this report.
	(a)(2)	Consolidated Financial Statement Schedules
		Not applicable.
	(a)(3)	Exhibits
		Exhibits required by Section 601 of Regulation S-K:

(a)(1) Consolidated Financial Statements

Exhibit No.		Description
2.1		Purchase and Sale Agreement, dated November 20, 2009, by and between Ridgewood Maine Hydro Partners, L.P., subsidiaries of Ridgewood US Hydro Corporation and KEI(USA) Power Management Inc. and certain of its subsidiaries (incorporated by reference to Exhibit 2.1 to the Current Report on Form 8-K filed by the Registrant with the SEC on November 23, 2009)
2.2		Agreement Regarding Representations and Warranties dated November 20, 2009, by and between Ridgewood Renewable Power, LLC, Ridgewood Maine Hydro Partners, L.P., subsidiaries of Ridgewood US Hydro Corporation and KEI(USA) Power Management Inc. and certain of its subsidiaries (incorporated by reference to Exhibit 2.2 to the Current Report on Form 8-K filed by the Registrant with the SEC on November 23, 2009)
2.3		Purchase and Sale Agreement, dated August 19, 2008, by and among Ridgewood Maine, L.L.C., and Indeck Energy Services, Inc., Covanta Energy Corporation, and for certain limited purposes, Indeck Maine Energy, LLC (incorporated by reference to Exhibit 2.1 to the Current Report on Form 8-K filed by the Registrant with the SEC on August 25, 2008)
2.4		First Amendment to the Purchase and Sale Agreement, dated November 11, 2008, by and among Ridgewood Maine, L.L.C., Indeck Energy Services, Inc., Covanta Energy Corporation, and for certain limited purposes Indeck Maine Energy, LLC (incorporated by reference to Exhibit 2.1 to the Current Report on Form 8-K filed by the Registrant with the SEC on November 14, 2008)
3	(i)(A)	Certificate of Trust of the Registrant (incorporated by reference to the Registrant’s Registration Statement filed with the SEC on or about January 24, 1995)
3	(i)(B)	Certificate of Amendment to the Certificate of Trust of the Registrant filed with Delaware Secretary of State on December 18, 2003 (incorporated by reference to the Registrant’s Annual Report on Form 10-K filed with the SEC on October 30, 2007)
3	(ii)(A)	Declaration of Trust of the Registrant (incorporated by reference to the Registrant’s Registration Statement filed with the SEC on or about January 24, 1995)
3	(ii)(B)	First Amendment to the Amended and Restated Declaration of Trust of the Registrant (incorporated by reference to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 1996; SEC File No. 000-25430)
3	(ii)(C)	Second Amendment to the Amended and Restated Declaration of Trust (incorporated by reference to the Registrant’s Proxy Statement filed with the SEC on November 5, 2001; SEC File No. 000-25430)
3	(ii)(D)	Amendment to the Amended Declaration of Trust of the Registrant effective January 1, 2005 (incorporated by reference to the Registrant’s Annual Report on Form 10-K filed with the SEC on October 30, 2007)

See the Index to Consolidated Financial Statements on page F-1 of this report.

20(a)(2) Consolidated Financial Statement Schedules

Not applicable.

(a)(3) Exhibits

Exhibits required by Section 601 of Regulation S-K:

Exhibit No.		Description
2.1		Interest Purchase Agreement dated as of July 26, 2010 by and among Ridgewood Electric Power Trust I, Ridgewood Olinda LLC, Ridgewood Electric Power Trust III, Ridgewood Electric Power Trust IV, Ridgewood Power B Fund/Providence Expansion, Ridgewood Renewable Power LLC, solely in its capacity as Sellers’ Representative, Brea Parent 2007, LLC, Rhode Island LFG Genco, LLC, Ridgewood Renewable Power LLC, Ridgewood Power Management LLC and MIP II BioPower LLC (incorporated by reference to Exhibit 2.1 to the Current Report on Form 8-K filed by the Registrant with the SEC on July 29, 2010)

2.2	*	Ridgewood Electric Power Trust IV Plan of Liquidation and Dissolution

3	(i)(A)	Certificate of Trust of the Registrant (incorporated by reference to the Registrant’s Registration Statement filed with the SEC on or about January 24, 1995)

3	(i)(B)	Certificate of Amendment to the Certificate of Trust of the Registrant filed with Delaware Secretary of State on December 18, 2003 (incorporated by reference to the Registrant’s Annual Report on Form 10-K filed with the SEC on October 30, 2007)

3	(ii)(A)	Declaration of Trust of the Registrant (incorporated by reference to the Registrant’s Registration Statement filed with the SEC on or about January 24, 1995)

3	(ii)(B)	First Amendment to the Amended and Restated Declaration of Trust of the Registrant (incorporated by reference to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 1996; SEC File No. 000-25430)

3	(ii)(C)	Second Amendment to the Amended and Restated Declaration of Trust (incorporated by reference to the Registrant’s Proxy Statement filed with the SEC on November 5, 2001; SEC File No. 000-25430)

3	(ii)(D)	Amendment to the Amended Declaration of Trust of the Registrant effective January 1, 2005 (incorporated by reference to the Registrant’s Annual Report on Form 10-K filed with the SEC on October 30, 2007)

10.1	#	Management Agreement between the Trust and Managing Shareholder, dated January 3, 1995 (incorporated by reference to the Registrant’s Annual Report on Form 10-K filed with the SEC on April 16, 1997)

14		Code of Ethics, adopted on March 1, 2004 (incorporated by reference to Exhibit 14 to the Annual Report on Form 10-K by The Ridgewood Power Growth Fund with the SEC on March 1, 2006)

31	*	Certification of Jeffrey H. Strasberg, Chief Executive and Financial Officer of the Registrant, pursuant to Securities Exchange Act Rule 13a-14(a)

32	*	Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of The Sarbanes-Oxley Act of 2002, signed by Jeffrey H. Strasberg, Chief Executive and Financial Officer of the Registrant

*	Filed herewith.

#	A management contract or compensatory plan or arrangement required to be filed as an exhibit pursuant to Item 15(a)(3) of Form 10-K.

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Exhibit No.		Description
10.1	#	Management Agreement between the Trust and Managing Shareholder, dated January 3, 1995 (incorporated by reference to the Registrant’s Annual Report on Form 10-K filed with the SEC on April 16, 1997)
10.2		Contribution Agreement dated as of November 17, 2008 by and among Ridgewood Olinda, LLC, Ridgewood Electric Power Trust III, Ridgewood Electric Power Trust IV, Ridgewood Power B Fund/Providence Expansion, Ridgewood Providence Power Corporation, Rhode Island Gas Management, LLC, Ridgewood Management Corporation, Rhode Island LFG Genco, LLC and Ridgewood Renewable Power LLC (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed by the Registrant with the SEC on November 20, 2008)
10.3		Amended and Restated Limited Liability Company Agreement of Rhode Island LFG Genco, LLC dated as of November 17, 2008 by Rhode Island LFG Genco, LLC, Ridgewood Olinda, LLC, Ridgewood Electric Power Trust III, Ridgewood Electric Power Trust IV, Ridgewood Power B Fund/Providence Expansion and Ridgewood Renewable Power LLC (incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K filed by the Registrant with the SEC on November 20, 2008)
10.4		Amended and Restated Site Lease and Landfill Gas Delivery Agreement dated as of November 17, 2008 between Rhode Island LFG Genco, LLC and Rhode Island Resource Recovery Corporation (incorporated by reference to Exhibit 10.3 to the Current Report on Form 8-K filed by the Registrant with the SEC on November 20, 2008)
10.5		Amended and Restated Landfill Gas Services Agreement dated as of November 17, 2008 among Ridgewood Gas Services LLC, Rhode Island Resource Recovery Corporation and, solely as to Sections 3.2 and 3.3, Rhode Island LFG Genco, LLC (incorporated by reference to Exhibit 10.4 to the Current Report on Form 8-K filed by the Registrant with the SEC on November 20, 2008)
10.6		Purchase and Sale Agreement dated as of November 17, 2008 between Ridgewood Gas Services LLC and Rhode Island Resource Recovery Corporation (incorporated by reference to Exhibit 10.5 to the Current Report on Form 8-K filed by the Registrant with the SEC on November 20, 2008)
10.7		Backup Certificate Agreement, dated as of August 19, 2008, by and among Indeck Maine Energy, LLC, Ridgewood Providence Power Partners, L.P., Ridgewood Rhode Island Generation, LLC, Linwood 0708 LLC, Rhode Island LFG Genco, LLC, and for certain limited purposes, Ridgewood Power Management LLC, and Covanta Energy Corporation (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed by the Registrant with the SEC on August 25, 2008)
10.8		First Amendment to the Backup Certificate Agreement, dated as of November 11, 2008, by and among Indeck Maine Energy, LLC, Ridgewood Providence Power Partners, L.P., Ridgewood Rhode Island Generation, LLC, Linwood 0708 LLC, Rhode Island LFG Genco, LLC, and for certain limited purposes, Ridgewood Power Management LLC and Covanta Energy Corporation (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed by the Registrant with the SEC on November 14, 2008)
10.9		Guaranty of Covanta Energy Corporation dated as of August 19, 2008 (incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K filed by the Registrant with the SEC on August 25, 2008)
10.10		First Amendment to the Guaranty of Covanta Energy Corporation, dated as of November 11, 2008 (incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K filed by the Registrant with the SEC on November 14, 2008)
10.11		Sellers Omnibus Agreement, dated as of August 19, 2008, by and among Ridgewood Maine, L.L.C., Indeck Energy Services, Inc., and, for certain limited purposes, Ridgewood Renewable Power LLC (incorporated by reference to Exhibit 10.3 to the Current Report on Form 8-K filed by the Registrant with the SEC on August 25, 2008)
10.12		First Amendment to the Sellers Omnibus Agreement, dated as of November 11, 2008, by and among Ridgewood Maine, L.L.C. and Indeck Energy Services, Inc. and, for certain limited purposes, Ridgewood Renewable Power LLC (incorporated by reference to Exhibit 10.3 to the Current Report on Form 8-K filed by the Registrant with the SEC on November 14, 2008)

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Exhibit No.		Description
10.13		Certificate Sale Support Agreement, dated as of July 31, 2008, by and among Linwood 0708 LLC, Ridgewood Rhode Island Generation, LLC, Ridgewood Providence Power Partners, L.P., Rhode Island LFG Genco, LLC, Indeck Energy Services, Inc., Ridgewood Electric Power Trust I, Ridgewood Electric Power Trust III, Ridgewood Electric Power Trust IV, Ridgewood Electric Power Trust V, Ridgewood Power B Fund/Providence Expansion, and Ridgewood Renewable Power, LLC (incorporated by reference to Exhibit 10.4 to the Current Report on Form 8-K filed by the Registrant with the SEC on August 25, 2008)
10.14		First Amendment to the Certificate Sale Support Agreement, dated as of November 11, 2008, by and among Linwood 0708 LLC, Ridgewood Rhode Island Generation, LLC, Ridgewood Providence Power Partners, L.P., Rhode Island LFG Genco, LLC, Indeck Energy Services, Inc., Ridgewood Electric Power Trust I, Ridgewood Electric Power Trust III, Ridgewood Electric Power Trust IV, Ridgewood Electric Power Trust V, Ridgewood Power B Fund/Providence Expansion and Ridgewood Renewable Power, LLC (incorporated by reference to Exhibit 10.4 to the Current Report on Form 8-K filed by the Registrant with the SEC on November 14, 2008)
10.15		Agency Agreement, dated as of August 19, 2008, among Ridgewood Providence Power Partners, L.P., Ridgewood Rhode Island Generation, LLC, Linwood 0708 LLC, Ridgewood Power Management, LLC and Indeck Maine Energy, LLC. This Agency Agreement is also acknowledged by Ridgewood Electric Power Trust III, Ridgewood Electric Power Trust IV, Ridgewood Electric Power Trust V and Ridgewood Power B Fund/Providence Expansion (incorporated by reference to Exhibit 10.5 to the Current Report on Form 8-K filed by the Registrant with the SEC on August 25, 2008)
10.16		First Amendment to the Agency Agreement, dated as of November 11, 2008, among Ridgewood Providence Power Partners, L.P., Ridgewood Rhode Island Generation, LLC, Linwood 0708 LLC, Ridgewood Power Management, LLC and Indeck Maine Energy, LLC. This First Amendment to Agency Agreement is also acknowledged by Ridgewood Electric Power Trust III, Ridgewood Electric Power Trust IV, Ridgewood Electric Power Trust V and Ridgewood Power B Fund/Providence Expansion (incorporated by reference to Exhibit 10.5 to the Current Report on Form 8-K filed by the Registrant with the SEC on November 14, 2008)
10.17	#	Senior Executive Bonus Plan (incorporated by reference to Exhibit 10.6 to the Current Report on Form 10-Q filed by the Registrant with the SEC on November 7, 2008)
10.18	#	Amendment to Senior Executive Bonus Plan (incorporated by reference to Exhibit 10.1 to the Current Report on Form 10-Q filed by the Registrant with the SEC on November 9, 2009)
14		Code of Ethics, adopted on March 1, 2004 (incorporated by reference to Exhibit 14 to the Annual Report on Form 10-K by The Ridgewood Power Growth Fund with the SEC on March 1, 2006)
21		Subsidiaries of the Registrant (incorporated by reference to Exhibit 21 to the Annual Report on Form 10-K filed by the Registrant with the SEC on April 3, 2009)
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, Executive Vice President and 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.
#	A management contract or compensatory plan or arrangement required to be filed as an exhibit pursuant to Item 15(a)(3) of Form 10-K.

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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: March 25, 2010	By:	/s/ Randall D. Holmes
Date: February 25, 2011	By:	/s/ Jeffrey H. Strasberg
		Randall D. Holmes
		Jeffrey H. Strasberg
		President and Chief Executive Officer
		Chief Executive and Financial Officer
		(Principal Executive Officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following ~~persons~~person on behalf of the registrant and in the ~~capacities~~ capacity and on the ~~dates~~date indicated.

Signature	Capacity	Date
/s/ Randall D. Holmes	President and Chief Executive Officer	March 25, 2010
/s/ Jeffrey H. Strasberg	Chief Executive and Financial Officer	February 25, 2011
Randall D. Holmes	(Principal Executive Officer)
Jeffrey H. Strasberg	(Principal Executive, Financial and Accounting Officer)
/s/ Jeffrey H. Strasberg	Executive Vice President and Chief Financial Officer	March 25, 2010
Jeffrey H. Strasberg	(Principal Financial and Accounting Officer)
RIDGEWOOD RENEWABLE POWER LLC
(Managing Shareholder)
By: /s/ Randall D. Holmes	President and Chief Executive Officer of Managing Shareholder	March 25, 2010
By: /s/ Jeffrey H. Strasberg	Chief Executive and Financial Officer of Managing Shareholder	February 25, 2011
Randall D. Holmes
Jeffrey H. Strasberg

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RIDGEWOOD ELECTRIC POWER TRUST IV

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

	Page
Report of Independent Registered Public Accounting Firm	F-2
Consolidated Balance Sheets at December 31, 2009 and 2008	F-3
Consolidated Statement of Net Assets at December 31, 2010 and Consolidated Balance Sheet at December 31, 2009	F-3
Consolidated Statements of Operations for the years ended December 31, 2009 and 2008	F-4
Consolidated Statement of Changes in Net Assets for the period from November 20, 2010 to December 31, 2010	F-4
Consolidated Statements of Changes in Shareholders’ Equity (Deficit) for the years ended December 31, 2009 and 2008	F-5
Consolidated Statements of Operations for the period from January 1, 2010 to November 19, 2010 and for the year ended December 31, 2009	F-5
Consolidated Statements of Cash Flows for the years ended December 31, 2009 and 2008	F-6
Consolidated Statements of Changes in Shareholders’ Equity (Deficit) for the period from January 1, 2010 to November 19, 2010 and for the year ended December 31, 2009	F-6
Notes to Consolidated Financial Statements	F-7
Consolidated Statements of Cash Flows for the period from January 1, 2010 to November 19, 2010 and for the year ended December 31, 2009	F-7
Notes to Consolidated Financial Statements	F-8

F-1

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Managing Shareholder and Shareholders

Ridgewood Electric Power Trust IV

We have audited the accompanying consolidated ~~balance~~statement ~~sheets~~of net assets in liquidation (liquidation basis) of Ridgewood Electric Power Trust IV (a Delaware trust) as of December 31, 2010, and ~~subsidiaries~~the related consolidated statement of changes in net assets in liquidation (liquidation basis) for the period from November 20, 2010 to December 31, 2010. We also have audited the consolidated balance sheet as of December 31, 2009, and ~~2008~~the related statements of operations, changes in equity (deficit) and cash flows for the ~~related~~year ~~consolidated~~then ended, and the statements of operations, changes in ~~shareholders’~~ equity (deficit), and cash flows for the ~~years~~period ~~then~~from ~~ended.~~January 1, 2010 to November 19, 2010. These consolidated financial statements are the responsibility of the Trust'’s management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement. The Trust is not required to have, nor were we engaged to perform an audit of its internal control over financial reporting. Our ~~audit~~audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion. An audit ~~also~~ includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

InAs ~~our opinion,~~described ~~the~~in ~~consolidated~~Note ~~financial~~1 ~~statements referred~~ to ~~above~~the ~~present~~consolidated ~~fairly, in~~financial ~~all material respects~~statements, the ~~financial~~ ~~position~~shareholders of Ridgewood Electric Power Trust IV ~~and~~approved ~~subsidiaries~~the assale of ~~December~~its ~~31,~~interests ~~2009~~in ~~and~~the ~~2008,~~landfill-gas business and, as a result, the ~~results~~ Trust’s plan of ~~their~~liquidation ~~operations~~became ~~and~~effective ~~their~~on ~~cash~~November ~~flows~~19, ~~for~~2010. The ~~the~~Trust ~~years~~has ~~then~~changed ~~ended,~~its ~~in conformity~~basis ~~with~~of accounting ~~principles~~for ~~generally~~periods ~~accepted~~subsequent into November 19, 2010 from the ~~United~~going-concern ~~States~~basis ~~of America~~to a liquidation basis.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated net assets in liquidation (liquidation basis) of Ridgewood Electric Power Trust IV as of December 31, 2010, the consolidated changes in its net assets in liquidation (liquidation basis) for the period from November 20, 2010 to December 31, 2010, the consolidated financial position as of December 31, 2009, and the consolidated results of its operations and its cash flows for the year then ended and for the period from January 1, 2010 to November 19, 2010 in conformity with accounting principles generally accepted in the United States of America.

/s/ GRANT THORNTON LLP

Edison, New Jersey

~~March~~February 25, ~~2010~~ 2011

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RIDGEWOOD ELECTRIC POWER TRUST IV
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED STATEMENT OF NET ASSETS AT DECEMBER 31, 2010 (Liquidation Basis)
AND CONSOLIDATED BALANCE SHEET AT DECEMBER 31, 2009 (Going Concern Basis)
(in thousands, except share data)
	December 31,			December 31,
	2009			2008
	2010			2009
ASSETS
Current assets:
Cash and cash equivalents	$	71,~~804~~121		$	117,~~683~~804
Unbilled receivables		-			6,572
Buyer holdback receivable		972			-
Other receivable		-			6,461
Due from affiliates		-			606
Security deposits		-			2,345
Prepaid expenses and other current assets		-			24
Due from affiliates		606			-
Total current assets		2,093			8,434
Prepaid expenses and other current assets		24			108
Investment		-			2,001
Total current assets		8,434			27,169
Total assets	$	2,093		$	10,435
Investments		2,001			6,458
LIABILITIES AND EQUITY (DEFICIT)
Total assets	$	10,435		$	33,627
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)
Current liabilities:
Accounts payable and accrued expenses	$	98715		$	~~1,194~~98
Due to Indeck Energy Services		-			7,828
Due to affiliates		136			-
Due to affiliates		-			2,771
Total liabilities	$	851			98
Total liabilities		98			11,793
Commitments and contingencies
Shareholders’ equity (deficit):
Equity (deficit):
Shareholders’ equity (476.8 Investor Shares
Investor Shareholders’ equity (476.8 Investor Shares issued
issued and outstanding)		10,502			21,884
and outstanding)					10,502
Managing Shareholder’s accumulated deficit
(1 management share issued and outstanding)		~~(165~~	)		(50165	)
Total shareholders’ equity		10,337			21,834
Total equity					10,337
Total liabilities and shareholders’ equity	$	10,435		$	33,627
Total liabilities and equity				$	10,435
Net assets in liquidation	$	1,242

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

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RIDGEWOOD ELECTRIC POWER TRUST IV
CONSOLIDATED STATEMENTS OF OPERATIONS
CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS
(in thousands, except per share data)
FOR THE PERIOD FROM NOVEMBER 20, 2010 TO DECEMBER 31, 2010
	Years Ended December 31,
(Liquidation Basis)
	2009			2008
(in thousands)
Power generation revenue	$	-		$	6,916
Shareholders’ equity at November 19, 2010	$	13,364
Renewable attribute revenue		-			1,436
Estimated future management fees to be incurred during liquidation		(79	)
Total revenues		-			8,352
Distributions to shareholders in December 2010		(11,148	)
Cost of revenues		-			7,283
Estimated liquidation accruals		(895	)
Gross profit		-			1,069
Net assets in liquidation at December 31, 2010	$	1,242
Operating expenses:
General and administrative expenses		613			3,408
Management fee to Managing Shareholder		655			527
Total operating expenses		1,268			3,935
Loss from operations		(1,268	)		(2,866	)
Other (expense) income:
Equity in loss of RILG		(2,700	)		(261	)
Equity in (loss) income of Maine Hydro		(426	)		254
Gain on disposition of Maine Hydro		2,158			-
Equity in loss of Indeck Maine		-			(509	)
Gain on disposition of Indeck Maine		-			7,197
Interest income, affiliates		-			416
Interest expense		-			(60	)
Other income		371			16
Total other (expense) income, net		(597	)		7,053
Net (loss) income		(1,865	)		4,187
Net loss attributable to noncontrolling interest		-			603
Net (loss) income attributable to Trust	$	(1,865	)	$	4,790
Managing Shareholder – Net (loss) income	$	(19	)	$	48
Shareholders – Net (loss) income		(1,846	)		4,742
Net (loss) income per Investor Share		(3,872	)		9,943

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

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RIDGEWOOD ELECTRIC POWER TRUST IV
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT)
CONSOLIDATED STATEMENTS OF OPERATIONS
YEARS ENDED DECEMBER 31, 2009 AND 2008
(Going Concern Basis)
(in thousands)
(in thousands, except per share data)
				Managing			Total
	Period from January 1, 2010 to November 19, 2010			Year Ended December 31, 2009
	Shareholders'			Shareholder			Shareholders'
Operating expenses:
	Equity			Deficit			Equity
General and administrative expenses	$	358		$	613
Balance at December 31, 2007	$	17,665		$	(93	)	$	17,572
Management fee to Managing Shareholder		275			655
Net income		4,742			48			4,790
Total operating expenses		633			1,268
Cash distributions		(985	)		(10	)		(995	)
Loss from operations		(633	)		(1,268	)
Capital contributions		462			5			467
Other income (expense):
Balance at December 31, 2008		21,884			(50	)		21,834
Equity in loss of RILG		(1,048	)		(2,700	)
Net loss		(1,846	)		(19	)		(1,865	)
Gain on disposal of RILG		4,697			-
Cash distributions		(9,536	)		(96	)		(9,632	)
Equity in loss of Maine Hydro		-			(426	)
Balance at December 31, 2009	$	10,502		$	(165	)	$	10,337
Gain on disposal of Maine Hydro		-			2,158
Other income		11			371
Total other income (expense), net		3,660			(597	)
Net income (loss)	$	3,027		$	(1,865	)
Managing Shareholder - Net income (loss)	$	30		$	(19	)
Shareholders - Net income (loss)		2,997			(1,846	)
Net income (loss) per Investor Share		6,287			(3,872	)

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

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RIDGEWOOD ELECTRIC POWER TRUST IV
CONSOLIDATED STATEMENTS OF CASH FLOWS
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (DEFICIT)
(in thousands)
PERIOD FROM JANUARY 1, 2010 TO NOVEMBER 19, 2010 AND YEAR ENDED DECEMBER 31, 2009
	Years Ended December 31,
(Going Concern Basis)
	2009			2008
(in thousands)
Cash flows from operating activities:
				Managing
Net (loss) income attributable to Trust	$	(1,865	)	$	4,790
	Investor			Shareholder			Total
Adjustments to reconcile net (loss) income to net cash provided by
	Shareholders' Equity			(Deficit) Equity			Equity
(used in) operating activities:
Balance at December 31, 2008	$	21,884		$	(50	)	$	21,834
Depreciation and amortization		-			1,229
Net loss		(1,846	)		(19	)		(1,865	)
Change in rotable spare parts		-			(137	)
Cash distributions		(9,536	)		(96	)		(9,632	)
Interest income on notes receivable		-			(391	)
Balance at December 31, 2009		10,502			(165	)		10,337
Gain on disposition of Indeck Maine		-			(7,197	)
Net income		2,997			30			3,027
Gain on disposition of Maine Hydro		(2,158	)		-
Balance at November 19, 2010	$	13,499		$	(135	)	$	13,364
Net loss attributable to noncontrolling interest		-			(603	)
Equity interest in loss (income) of:
RILG		2,700			261
Maine Hydro		426			(254	)
Indeck Maine		-			509
Cash distributions from RILG		231			-
Cash distributions from Maine Hydro		-			963
Changes in operating assets and liabilities:
Accounts receivable		-			220
Unbilled receivables		6,572			698
Other receivable		6,461			-
Security deposits		2,345			(2,932	)
Prepaid expenses and other current assets		84			(99	)
Accounts payable and accrued expenses		(1,096	)		1,800
Accrued royalty expense		-			(142	)
Due to Indeck Energy Services		(7,828	)		-
Due to/from affiliates, net		(3,425	)		(316	)
Total adjustments		4,312			(6,391	)
Net cash provided by (used in) operating activities		2,447			(1,601	)
Cash flows from investing activities:
Proceeds on disposition of Maine Hydro		3,306			-
Proceeds on disposition of Indeck Maine		-			14,094
Exchange of cash for RILG interest		-			(96	)
Net cash provided by investing activities		3,306			13,998
Cash flows from financing activities:
Proceeds from affiliate loan payable		-			3,000
Repayment of affiliate loan payable		-			(3,000	)
Cash distributions to noncontrolling interest		-			(500	)
Cash distributions to shareholders		(9,632	)		(995	)
Net cash used in financing activities		(9,632	)		(1,495	)
Net (decrease) increase in cash and cash equivalents		(3,879	)		10,902
Cash and cash equivalents, beginning of year		11,683			781
Cash and cash equivalents, end of year	$	7,804		$	11,683
Supplemental disclosure of cash flow information:
Interest paid	$	-		$	52
Supplemental disclosure of noncash financing activities:
Exchange of assets for RILG membership interest:
Plant and equipment, net	$	-		$	(7,096	)
Intangibles, net		-			(724	)
Security deposit		-			(509	)
Minority interest		-			2,858
Net working capital, excluding cash		-			375
Noncash activity in connection with Indeck Maine sale:
Exchange of notes for membership units	$	-		$	5,654
Distribution of Indeck Maine unbilled receivables and deposits		-			10,468
Amounts due to Indeck Maine members		-			2,500

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

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Table of Contents

RIDGEWOOD ELECTRIC POWER TRUST IV
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Going Concern Basis)
(in thousands)

	Period from January 1, 2010 to November 19, 2010			Year Ended December 31, 2009
Cash flows from operating activities:
Net income (loss)	$	3,027		$	(1,865	)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Equity in loss of RILG		1,048			2,700
Gain on disposal of RILG		(4,697	)		-
Equity in loss of Maine Hydro		-			426
Gain on disposal of Maine Hydro		-			(2,158	)
Cash distributions from RILG		-			231
Changes in operating assets and liabilities:
Unbilled receivable		-			6,572
Other receivable		-			6,461
Security deposits		-			2,345
Prepaid expenses and other current assets		(5	)		84
Accounts payable and accrued expenses		(93	)		(1,096	)
Due to Indeck Energy Services		-			(7,828	)
Due to/from affiliates, net		(188	)		(3,425	)
Total adjustments		(3,935	)		4,312
Net cash (used in) provided by operating activities		(908	)		2,447

Cash flows from investing activities:
Proceeds from disposal of RILG		6,500			-
Buyer holdback receivable		(972	)		-
Amount held by Managing Shareholder on behalf of Trust		(5,251	)		-
Proceeds from disposal of Maine Hydro		-			3,306
Net cash provided by investing activities		277			3,306

Cash flows from financing activities:
Cash distributions to shareholders		-			(9,632	)

Net decrease in cash and cash equivalents		(631	)		(3,879	)
Cash and cash equivalents, beginning of year		7,804			11,683

Cash and cash equivalents, end of period	$	7,173		$	7,804

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

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Table of Contents

RIDGEWOOD ELECTRIC POWER TRUST IV

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollar amounts in thousands, except per share data)

1. DESCRIPTION OF BUSINESS

Ridgewood Electric Power Trust IV (the “Trust”) is a Delaware trust formed on September 8, 1994. The Trust began offering shares in February 1995 and concluded its offering in September 1996. The Trust has 476.8 investor shares of beneficial interest (“Investor Shares”) outstanding. Prior to the adoption of the Trust’s Plan of Dissolution (described below), the objective of the Trust iswas 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~~Historically, the Trust ~~has~~focused ~~been organized to invest~~ primarily in on power generation facilities located in the US. ~~The projects of the Trust have characteristics that qualify the projects for government incentives.~~

The Trust’s accompanying consolidated financial statements include the accounts of the Trust. ~~The~~and ~~Trust’s~~its ~~consolidated~~former ~~financial~~investments. ~~statements~~The ~~also~~Trust ~~include~~owned ~~the Trust’s~~a 35.242% interest in Rhode Island LFG Genco, LLC (“RILG”), ~~effective November 17, 2008,~~ which iswas ~~accounted~~sold ~~for~~in ~~under~~November ~~the~~2010 ~~equity method of accounting, as the Trust has the ability to exercise significant influence but does not control the operating~~ and ~~financial policies of the investment. The Trust owned a~~ 50% interest in Ridgewood Maine Hydro Partners, L.P. (“Maine Hydro”) ~~and a 25% interest in Indeck Maine Energy~~, ~~LLC (“Indeck Maine”),~~ which ~~were~~was sold in November 2009. ~~and~~Maine ~~December~~Hydro ~~2008,~~was ~~respectively,~~dissolved ~~as further discussed~~ in ~~Note 3~~September 2010.

~~Prior~~On to November 1719, ~~2008~~2010, the Trust, ~~owned a 64.3% interest in~~ Ridgewood ~~Providence~~ Electric Power ~~Partners,~~Trust ~~L.P.~~I (“~~Ridgewood~~Trust ~~Providence~~I”) ~~and~~(through ~~the~~its ~~remaining 35.7~~100% ~~noncontrolling~~ ~~interest~~ownership ~~was~~of ~~owned~~Ridgewood byOlinda LLC), Ridgewood Electric Power Trust III (“Trust III”). Onand ~~November~~Ridgewood ~~17,~~Power ~~2008,~~B ~~the~~Fund/Providence ~~Trust~~Expansion ~~contributed~~(“B ~~its~~Fund”, ~~64.3%~~and ~~interest~~together ~~in Ridgewood~~with ~~Providence~~the inTrust, ~~exchange~~Trust ~~for~~I aand ~~35.24%~~Trust ~~interest~~III, inthe ~~RILG.~~“Trusts”) ~~Effective November~~sold ~~17,~~all ~~2008,~~of ~~the~~their ~~interest~~respective inlimited ~~RILG~~liability iscompany ~~accounted~~membership ~~for~~interests ~~using~~in ~~the~~RILG ~~equity~~to ~~method of~~Broadrock ~~accounting~~Biopower ~~and~~I ~~therefore,~~LLC (the ~~Trust~~“Buyer”), noan ~~longer~~entity ~~consolidates~~affiliated ~~the~~with ~~assets, liabilities,~~Macquarie ~~revenues~~Group ~~and~~Limited, ~~expenses~~an ofAustralian ~~Ridgewood~~based ~~Providence~~international company, as further discussed ~~further~~ in Note 34.

~~The Managing~~On ~~Shareholder~~November is19, ~~marketing~~2010, ~~RILG~~the ~~for~~date of the sale of RILG, the Plan of Liquidation and Dissolution of Ridgewood Electric Power Trust IV (the “Plan of Dissolution”) became effective. ~~The~~Under the Plan of Dissolution, the business of the Trust shifted, and became limited to the disposal of its remaining assets and resolution of its remaining liabilities. Upon the completion of these activities, if successful, the Managing Shareholder ~~cannot predict~~expects to distribute any remaining cash to the ~~timing~~Trust’s shareholders and then proceed to terminate the Trust and its reporting obligations under the Securities Exchange Act of 1934, as amended (the ~~sale~~“Exchange Act”). The Trust is required to make adequate provisions to satisfy its known and unknown liabilities, which could substantially delay or limit the Trust’s ability to make future distributions to shareholders. The process of accounting for the Trust’s liabilities, including those that are presently unknown, may involve difficult valuation decisions, which could adversely impact the amount or ~~whether~~timing of any ~~sale~~future ~~will occur~~distributions by the Trust.

The Managing Shareholder ~~performs~~performed, or ~~arranges~~arranged for the performance of, the operation and maintenance of the projects invested in by the Trust and continues to perform the management and administrative services required for Trust operations. Among other services, the Managing Shareholder administers the Trust’s accounts, including tax and other financial information, and handles relations with the Trust’s shareholders. The Managing Shareholder also provides the Trust with office space, equipment and facilities and provides other services necessary for its operation.

Under the Plan of Dissolution, the Managing Shareholder has sole authority to conduct the Trust’s dissolution, liquidation and termination without additional shareholder approval. As of February 25, 2011, the Trust has not been liquidated, primarily due to holdback amounts due from the Buyer of RILG (see Note 4).

Since November 19, 2010, the Trust has made distributions to its investors of $10,728, or $22,500 per Investor Share. The Trust does not anticipate additional distributions until the Trust has completed the liquidation process, at which time, the Trust’s remaining cash, if any, will be distributed to the holders of Investor Shares and the Managing Shareholder on an 80%/20% basis.

The Trust has evaluated subsequent events and transactions through 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 consolidated financial statements.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a) ~~Principles~~ Basis of ~~Consolidation~~Presentation

The consolidated financial statements include the accounts of the Trust and its ~~majority-owned~~ ~~subsidiary~~former investments. All material intercompany transactions have been eliminated in consolidation.

The Trust uses the equity method of accounting for its investments in affiliates, which are 50% or less owned, as the Trust has the ability to exercise significant influence over the operating and financial policies of the affiliates but does not control the affiliate. The Trust’s share of the earnings or losses of the affiliates is included in the consolidated financial statements.

b) Use of Estimates

The preparation of consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”) requires the Trust to make estimates and assumptions that affect the reported 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 evaluates its estimates of assets, including investments, prepaid expenses and other current assets and recordable liabilities for litigation and other contingencies. The Trust bases its estimates and assumptions on historical experience, current and expected conditions and various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different circumstances or conditions.

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Table of Contents

RIDGEWOOD ELECTRIC POWER TRUST IV

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollar amounts in thousands, except per share data)

c) Revenue Recognition

Power generation revenue of RILG, is recorded in the month of delivery, based on the estimated volumes sold to customers at rates stipulated in the electric power sales contract. Adjustments are made to reflect actual volumes delivered when the actual volumetric information subsequently becomes available. Billings to customers for power generation generally occurs during the month following delivery. Final billings do not vary significantly from estimates.

Renewable attribute revenue is derived from the sale of the Renewable Portfolio Standards Attributes (“RPS Attributes”). Qualified renewable electric generation facilities produce RPS Attributes when they generate electricity. Renewable attribute revenue is recorded in the month in which the RPS Attributes are delivered, as Ridgewood Providence has substantially completed its obligations for entitled benefits, represented by the underlying generation of power within specific environmental requirements.

d) 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 December 31, 2009 and 2008, cash and cash equivalents exceeded federal insured limits by $7,447 and $11,413, respectively, all of which was invested either in US Treasury bills or money market accounts that invest primarily in US government securities.

e) Unbilled Receivables

Unbilled receivables consists of RPS Attributes distributed from Indeck Maine, for which revenue had been earned but for which no invoices had been generated under executed commitments as the certificates to be exchanged had not been issued by the appropriate regulatory body. The issuance of renewable certificates by the regulatory body only occurs once every three months.

f) Fair Value of Financial Instruments

At December 31, 2009 and 2008, the carrying value of the Trust’s cash and cash equivalents, unbilled receivables, other receivable, other current assets, security deposits, accounts payable and accrued expenses and other liabilities approximates their fair value due to their short-term nature.

g) Comprehensive (Loss) Income

The Trust's comprehensive (loss) income consists only of net (loss) income.

h) Income Taxes

i) Recent Accounting Pronouncements

Fair Value Measurements

In February 2008, the Financial Accounting Standards Board (“FASB”) issued guidance which delayed the effective date of fair value measurements for non-financial assets and non-financial liabilities for the Trust until January 1, 2009, except for items that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Trust adopted this guidance effective January 1, 2009, with no material impact on its consolidated financial statements.

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 its 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 its consolidated financial statements.

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Table of Contents

RIDGEWOOD ELECTRIC POWER TRUST IV

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollar amounts in thousands, except per share data)

~~In January~~The ~~2010~~consolidated financial statements for periods prior to November 20, 2010 were prepared on the ~~FASB~~going ~~amended~~concern ~~its~~basis ~~previous~~of ~~guidance~~accounting, towhich ~~clarify~~contemplates realization of assets and ~~provide additional~~satisfaction ~~disclosure~~of ~~requirements~~liabilities ~~relating~~in tothe ~~recurring~~normal ~~and~~course ~~non-recurring~~of ~~fair value~~business. ~~measurements~~Upon ~~and~~the ~~employers~~effectiveness of the Trust’s ~~disclosures~~Plan ~~about~~of ~~postretirement~~Dissolution ~~benefit~~on ~~plan assets~~November in20, ~~order~~2010, tothe ~~provide~~Trust ~~greater~~adopted ~~level~~the liquidation basis of ~~disaggregated~~accounting. ~~information~~This ~~and~~basis ~~more robust~~of ~~disclosures~~accounting ~~about~~is ~~valuation~~considered ~~techniques~~appropriate when, among other things, liquidation of the Trust is probable. Under this basis of accounting, assets are valued at their estimated net realizable values and ~~inputs~~liabilities toare ~~fair~~valued ~~value measurements~~at their estimated settlement amounts. ~~This~~The ~~guidance~~valuation ~~will~~of ~~become~~assets ~~effective~~and ~~for~~liabilities ~~interim~~requires management to make significant estimates and ~~annual reporting~~assumptions. ~~periods~~Upon ~~beginning~~conversion ~~after~~to ~~December~~the ~~15,~~liquidation ~~2009~~basis of accounting, ~~except~~the ~~for~~Trust ~~certain~~accrued ~~kind~~known estimated values of ~~disclosures~~ ~~for~~assets ~~which~~expected ~~effective~~to ~~date~~be isreceived ~~for~~and ~~fiscal~~known ~~year~~estimated ~~beginning~~costs ~~after~~expected ~~December 15,~~to ~~2010~~be incurred in liquidation. ~~The~~On ~~Trust~~an isongoing ~~currently~~basis, ~~evaluating~~the Trust evaluates the ~~impact~~estimates ofand ~~adopting~~assumptions ~~this~~that ~~guidance~~ can have a significant impact on ~~its consolidated~~the ~~financial~~Trust’s ~~statements~~reported net assets in liquidation. Actual amounts may differ materially and adversely from these estimates.

~~Noncontrolling Interests~~b) inUse ~~Consolidated~~of ~~Financial Statements~~Estimates

~~In December 2007,~~The ~~the~~preparation ~~FASB~~of ~~issued guidance~~consolidated ~~regarding~~financial ~~noncontrolling interests~~statements in ~~consolidated~~accordance ~~financial~~with ~~statements,~~accounting ~~which~~principles ~~requires~~generally ~~that~~accepted ~~ownership interests~~ in ~~subsidiaries~~the ~~held~~United byStates ~~parties~~of ~~other~~America ~~than~~(“GAAP”) requires the ~~parent,~~Trust ~~and~~to ~~the~~make ~~amount of~~estimates ~~consolidated~~and ~~net~~assumptions ~~income~~that ~~attributable~~affect tothe ~~noncontrolling~~reported ~~interests,~~amounts beof ~~clearly identified~~the Trust’s assets, ~~labeled~~liabilities, revenues and ~~presented~~expenses, inincluding the ~~consolidated~~disclosure ~~financial statements within~~of ~~equity~~contingent assets and liabilities, ~~but~~as ~~separate~~well ~~from~~as the ~~parent’s~~reported ~~equity.~~amounts Itof ~~also requires~~changes ~~that~~in ~~once~~net aassets. ~~subsidiary~~The isestimates ~~deconsolidated,~~also ~~any~~affect ~~retained~~the ~~noncontrolling equity~~reported ~~investment~~estimated invalue ~~the~~of ~~former~~net ~~subsidiary~~realizable beassets ~~initially~~and ~~measured~~settlement atof ~~fair value~~liabilities. ~~Sufficient~~ ~~disclosures~~The ~~are~~Trust ~~required~~evaluates tothese ~~clearly~~estimates ~~identify~~ and ~~distinguish~~assumptions ~~between the~~on ~~interests~~an ofongoing ~~the~~basis. ~~parent~~The ~~and~~Trust ~~the~~evaluates ~~interests~~its estimates of ~~the~~assets ~~noncontrolling owners. This~~and ~~guidance became~~recordable ~~effective~~liabilities for ~~the~~litigation ~~Trust~~and ~~beginning January 1,~~other ~~2009~~contingencies. ~~Except~~The ~~for~~Trust ~~the~~bases ~~presentation~~its estimates and ~~disclosure~~assumptions ~~requirements~~on historical experience, ~~which~~ ~~are~~current ~~applied~~and ~~retrospectively~~expected ~~for~~conditions ~~all~~and ~~periods~~various ~~presented~~other ~~subsequent~~assumptions that are believed to be reasonable under the ~~adoption~~ circumstances, the ~~adoption~~results of ~~this~~ ~~guidance~~which ~~had~~form nothe ~~material~~basis ~~impact~~for onmaking ~~its consolidated~~judgments ~~financial~~about ~~statements~~the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different circumstances or conditions.

~~Subsequent Events~~c) Cash and Cash Equivalents

InThe ~~May 2009,~~Trust ~~the~~considers ~~FASB~~all ~~issued~~highly ~~guidance~~liquid ~~regarding~~investments ~~subsequent~~with ~~events~~maturities, ~~which~~when ~~establishes general~~purchased, ~~standards~~ of ~~accounting~~three ~~for~~months ~~and~~or ~~disclosure~~less ofas ~~events~~cash ~~that~~and ~~occur~~cash ~~after the balance sheet date but before financial statements are issued or are available to be issued~~equivalents. At ItDecember ~~requires~~31, ~~the~~2010 ~~disclosure~~and of2009, ~~the~~cash ~~date through which an entity has evaluated subsequent events~~ and ~~the~~cash ~~basis~~equivalents ~~for~~exceeded ~~that~~federal ~~date.~~insured ~~The~~limits ~~Trust adopted~~by ~~this~~$692 ~~guidance~~and ~~effective June 30~~$7, ~~2009~~447, ~~with no material impact on its consolidated financial statements. In February 2010~~respectively, ~~the~~all ~~FASB~~of ~~amended~~which ~~its previous~~was ~~guidance~~invested ~~regarding~~either ~~subsequent~~in ~~events~~US byTreasury ~~removing~~bills ~~the~~or ~~requirement~~money ~~for~~market ~~a registrant~~accounts tothat ~~disclose~~invest asolely ~~date~~in ~~through~~US ~~which~~government ~~subsequent events have been evaluated~~securities.

~~Consolidation of~~d) ~~Variable~~Fair ~~Interest~~Value ~~Entities~~of Financial Instruments

InAt ~~June 2009,~~December ~~the FASB amended previous guidance regarding the consolidation of variable interest entities (“VIE”). This guidance eliminates exceptions to consolidating qualifying special-purpose entities~~31, ~~contains~~2010 ~~new~~and ~~criteria for determining the primary beneficiary~~2009, ~~and increases~~ the ~~frequency~~carrying value of ~~required reassessments to determine whether a company is~~ the ~~primary beneficiary of a VIE. This guidance also contains a new requirement that any term, transaction, or arrangement that does not have a substantive effect on an entity~~Trust’s ~~status~~cash asand acash ~~VIE~~equivalents, aBuyer ~~company’s power~~holdback ~~over~~receivable afrom ~~VIE,~~the orRILG asale, ~~company’s~~prepaid ~~obligation~~expenses toand ~~absorb~~other ~~losses~~current orassets, ~~its~~accounts ~~right~~payable ~~to receive~~and ~~benefits~~accrued ofexpenses anapproximates ~~entity~~their ~~must~~fair bevalue ~~disregarded~~due ~~in applying the guidance~~ to ~~consolidation~~ oftheir ~~VIE.~~short-term ~~The Trust adopted this guidance effective January 1, 2010, with no material impact on its consolidated financial statements~~nature.

In December 2009, the FASB amended its previous guidance issued in June 2009 regarding the consolidation of VIE which replace 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 (1e) ~~the obligation~~ toComprehensive ~~absorb~~Income ~~losses of the entity or~~ (2Loss) the right to receive benefits from the entity. This amendment also requires additional disclosures about a reporting entity’s involvement with VIEs. This guidance will become effective for the fiscal year beginning after November 15, 2009, for interim periods within that first annual reporting period and for interim and annual reporting periods thereafter. The Trust is currently evaluating the impact of adopting this guidance on its consolidated financial statements.

~~FASB Accounting~~The ~~Standards~~Trust's ~~Codification~~comprehensive income (loss) consists only of net income (loss).

~~In June 2009, the FASB announced the FASB Accounting Standards Codification (the “Codification”~~f) as ~~the single~~Income 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 consolidated financial statements.Taxes

3. CHANGES IN NET ASSETS IN LIQUIDATION

Upon conversion to the liquidation basis of accounting on November 20, 2010, the Trust accrued known estimated values of assets expected to be received and known estimated costs expected to be incurred during liquidation. On an ongoing basis, the Trust evaluates the estimates and assumptions that could have a significant impact on Trust’s reported net assets in liquidation. Actual costs and income may differ materially and adversely from these estimates. If there are delays in liquidating the Trust, actual costs incurred during the liquidation process would increase, reducing net assets available in liquidation and for future distribution to shareholders. Presented below is a reconciliation of shareholders’ equity at November 19, 2010, measured on a going concern basis, and net assets at December 31, 2010, measured on a liquidation basis.

F-9

Table of Contents

RIDGEWOOD ELECTRIC POWER TRUST IV

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollar amounts in thousands, except per share data)

3. INVESTMENTS

Shareholders’ equity at November 19, 2010 (going concern basis)	$	13,364
Estimated future management fees to be incurred during liquidation		(79	)
Distributions to shareholders in December 2010		(11,148	)
Estimated professional fees to be incurred during liquidation1		(296	)
Other estimated liquidation accruals2		(599	)
Net assets in liquidation at December 31, 2010	$	1,242

1 This includes legal, accounting and other professional fees paid since November 19, 2010 ($16 through December 31, 2010) and expected to be incurred in the future relating to the wind down activities of the Trust.

2 This includes insurance, severance and other headcount expenses paid since November 19, 2010 ($208 through December 31, 2010) and expected to be incurred in the future relating to the wind down activities of the Trust.

For the purposes of the Trust’s estimates of fees and expenses to be incurred during liquidation, management has assumed that the liquidation of the Trust will be completed by September 30, 2011. If the liquidation of the Trust is not completed by that date, the actual expenses that the Trust will incur will likely increase.

4. INVESTMENTS

RILG

~~In October~~RILG ~~2007~~was owned 35.2% by the Trust, ~~RILG~~6.8% ~~was~~by ~~formed~~Trust asI, a19.6% ~~Delaware~~by ~~limited~~Trust ~~liability~~III ~~company~~and ~~which~~38.4% ~~must be~~by ~~dissolved~~B noFund. ~~later~~On ~~than~~November ~~December~~19, 312010, ~~2107. RILG~~the ~~has~~Trusts ~~electrical generating~~sold ~~capacity~~all of ~~20.4~~their ~~megawatts~~respective ~~and~~limited ~~associated~~liability ~~gas~~company ~~treatment~~membership ~~systems, located~~interests atin RILG to the ~~Central~~Buyer ~~Landfill~~for inan ~~Johnston~~initial aggregate gross sale price of $18,704, ~~Rhode~~of ~~Island~~which ($6,584 was allocated to the ~~“Landfill”)~~Trust. The ~~project~~ ~~includes~~initial ~~reciprocating~~gross ~~engine~~sale ~~generator~~price ~~sets~~included $1,010 in estimated net working capital of RILG which ~~are~~was ~~fueled~~subject byto ~~methane gas~~adjustment, ~~produced~~within by90 days ~~and~~following ~~collected~~the ~~from~~closing, to reflect the ~~Landfill.~~difference ~~RILG~~between isestimated ~~operated~~and ~~under~~actual ~~contract by~~net ~~Ridgewood~~working ~~Power~~capital ~~Management~~at ~~LLC~~closing. The ~~(“RPM”),~~Trust anrecorded ~~affiliate~~a gain of $4,697 on the ~~Managing Shareholder~~disposition of RILG, onwhich anis ~~at-cost~~included ~~basis~~in the accompanying consolidated statements of operations.

~~On November~~In ~~17,~~connection ~~2008,~~with the ~~Trust,~~indemnification ~~Ridgewood~~obligations ~~Electric~~of ~~Power~~the ~~Trust~~Trusts Iunder ~~(“Trust~~the ~~I”)~~interest purchase agreement for the RILG sale, ~~Trust~~ ~~III~~the ~~and~~Buyer ~~Ridgewood~~held ~~Power~~back B$3,000 ~~Fund/Providence~~of ~~Expansion~~the ~~(“B~~gross ~~Fund”)~~sale ~~entered directly~~price orof ~~indirectly~~RILG, ~~through~~of ~~one~~which or$1,056 ~~more~~was ~~subsidiaries~~allocated to the Trust, ~~into~~for a ~~series~~period of ~~agreements~~ ~~relating~~9 months toafter the ~~operations~~closing of ~~Ridgewood~~the ~~Providence~~sale. ~~and~~The ~~Ridgewood Rhode~~holdback ~~Island~~period ~~Generation~~is ~~LLC~~scheduled ~~(“RRIG”)~~to atend ~~the~~in ~~Landfill~~August 2011. ~~The~~ ~~principal~~Subsequent ~~purpose~~to ~~of these~~year-end, ~~agreements~~the estimated working capital calculation for RILG was tofinalized, ~~consolidate~~resulting in $238 being owed to the ~~activities~~Buyer, of which $84 was allocated to the Trust,. ~~Trust~~The Iworking capital adjustment resulted in a reduction of RILG’s portion of the Buyer’s holdback amount to $2,762, of which $972 will be allocated to the Trust ~~III~~. ~~and~~In Bthe ~~Fund~~absence of any claims for indemnification by the Buyer, atthe remaining holdback amount will be released to the ~~Landfill~~Trusts ~~under~~in ~~one~~August ~~entity,~~2011. ~~RILG,~~As ~~for~~of the ~~purposes~~issuance of ~~developing~~ athese ~~new~~financial ~~electric~~statements, ~~generating~~the ~~facility~~Buyer ~~and~~has ~~consolidating~~not ~~all~~notified ~~gas~~the ~~rights under~~Trusts ~~one~~of ~~entity~~any claims.

Pursuant to terms and conditions of a contribution agreement, the Trust, Trust I, Trust III and B Fund each contributed certain membership, partnership and economic interests that they held in Ridgewood Providence, RRIG, Rhode Island Gas Management LLC and Ridgewood Providence Power Corporation to RILG, in exchange for their allocable interests in RILG. As a result of the ~~reorganization,~~ ~~the Trust~~sale, ~~Trust~~none ~~I, Trust III and B Fund directly or indirectly own all~~ of the ~~equity~~Trusts ~~interests~~has inany ~~RILG.~~further ~~The~~obligations ~~Trust~~with ~~contributed~~respect ~~its~~to ~~64.3% interest~~the inexpansion ~~Ridgewood~~or ~~Providence~~development inof ~~exchange for its 35.24% interest in~~ RILG.

~~RILG~~Summarized ~~and several~~balance ofsheet ~~its~~data ~~affiliates had an agreement with a power marketer~~ for which they were committed to sell 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 RILG at ~~fixed~~December ~~prices~~31, ~~as defined in the agreement. 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 agreement~~ was ~~returned~~as by April 2009. All required RPS Attributes were supplied by April 2009 and the contract expired according to its terms on June 15, 2009. RILG currently has no long-term agreements for the sale of RPS Attributes.follows:

Historically, RILG sold electricity it produced partly at fixed prices pursuant to a long-term contract and partly at prevailing market prices. In July 2009, the purchaser under the long-term contract elected to exercise its one-time option to terminate its contract with RILG, effective January 2010. RILG currently sells all of its electrical output in the spot or day-ahead wholesale electricity market. RILG is currently seeking alternate arrangements for the sale of its 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.


Current Assets	$	3,128
Non-current assets		8,512
Total assets	$	11,640

Current liabilities	$	3,641
Members’ Equity		7,999
Total liabilities and equity	$	11,640

Trust share of RILG equity	$	2,001

On November 3, 2009, RILG received notice from the United States Department of Energy (“DOE”) that it had been awarded a grant of $15,000 towards the purchase of equipment relating to RILG expansion. The final detail of the award is subject to final contract negotiations between RILG and the DOE. As a result, the exact amount, and timing of the receipt of any award, cannot currently be predicted.

Summarized balance sheet data for RILG at December 31, 2009 and 2008 is as follows:

	December 31,
	2009		2008
Current Assets	$	3,128	$	4,120
Non-current assets		8,512		15,004
Total assets	$	11,640	$	19,124
Current liabilities	$	3,641	$	2,782
Members’ Equity		7,999		16,342
Total liabilities and equity	$	11,640	$	19,124
Trust share of RILG equity	$	2,001	$	4,931

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RIDGEWOOD ELECTRIC POWER TRUST IV

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollar amounts in thousands, except per share data)

Summarized statements of operations data for RILG for the ~~year~~period ~~ended~~from ~~December~~January 311, ~~2009 and~~ ~~from~~2010 to November 1719, ~~2008~~2010 toand for the year ended December 31, ~~2008~~2009 was is as follows:

	Year Ended			November 17 to
	Period from January 1, 2010 to			Year Ended
	December 31,			December 31,
	November 19, 2010			December 31, 2009
	2009			2008
Revenues	$	10,420		$	14,296
Revenues	$	14,296		$	2,200
Cost of revenues		10,281			16,973
Cost of revenues		16,973			2,050
Other expenses		3,112			4,985
Other expenses		4,985			890
Total expenses		13,393			21,958
Total expenses		21,958			2,940
Net loss	$	(2,973	)	$	(7,662	)
Net loss	$	(7,662	)	$	(740	)
Trust share of loss in RILG	$	(1,048	)	$	(2,700	)
Trust share of equity loss	$	(2,700	)	$	(261	)

The Trust share of loss in RILG is calculated from November 17, 2008, the date as which the Trust’s interest in RILG is accounted for using the equity method of accounting. The Trust’s share of RILG equity is not based on its 35.24% interest in RILG. Instead, it represents the carrying value of its net investment in Ridgewood Providence at the time of the reorganization, increased/decreased for its 35.24% share of earnings, losses and distributions of RILG that occurred subsequent to the reorganization.

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 consolidated statements of operations.

Due to a change in the estimated useful life of certain assets, RILG recorded additional depreciation expense of $3,337 ~~and $564~~ for the ~~years~~year ended December 31, 2009 ~~and 2008~~, ~~respectively,~~ which was included in equity loss in RILG in the accompanying consolidated statements of operations.

Maine Hydro

InThe ~~August 1996, the~~ Trust and Ridgewood Electric Power Trust V (“Trust V”) formed Ridgewood Maine Hydro Partners, L.P. (“Maine Hydro”) and in December 1996, acquired a portfolio of hydro-electric facilities located in Maine from CHI Energy, Inc. The Trust and Trust V owned equal interests in Maine Hydro.

On November 20, 2009, Maine Hydro entered into a purchase and sale agreement and sold for cash, all of the assets of Maine Hydro to KEI (USA) Power Management Inc. and certain of its subsidiaries, which are affiliated with Kruger Energy, Inc., a Canada-based international company. The total gross ~~purchase~~proceeds ~~price~~from of the sale, including a post-closing adjustment made in January 2010 for ~~estimated~~ working capital at the time of the sale, totaled $7,293, of which $3,646 was allocated to the Trust. The Trust recorded a gain of $2,158 on the ~~sale~~disposition of Maine Hydro, which is included in the accompanying consolidated statements of operations.

Summarized ~~balance~~ ~~sheet~~statements ~~data~~of operations for Maine Hydro atfor ~~December~~the 31period from January 1, ~~2008~~2009 isto November 20, 2009 was as follows:

Current assets	$	1,583
Revenues	$	2,331
Noncurrent assets		2,137
Cost of revenues		2,089
Total assets	$	3,720
Other expenses, net		1,094
Current liabilities	$	668
Total expenses		3,183
Partners' equity		3,052
Net loss	$	(852	)
Total liabilities and partners' equity	$	3,720
Trust share of loss in Maine Hydro	$	(426	)
Trust share of Maine Hydro equity	$	1,526

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RIDGEWOOD ELECTRIC POWER TRUST IV

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollar amounts in thousands, except per share data)

~~Summarized statements~~5. TRANSACTIONS ofWITH ~~operations~~MANAGING ~~for~~SHAREHOLDER ~~Maine~~AND ~~Hydro for the period from January 1, 2009 to November 20, 2009 and for the year ended December 31, 2008 is as follows:~~AFFILIATES

	2009			2008
Revenues	$	2,331		$	5,473
Cost of revenues		2,089			3,104
Other expenses, net		1,094			1,860
Total expenses		3,183			4,964
Net (loss) income	$	(852	)	$	509
Trust share of (loss) income in Maine Hydro	$	(426	)	$	254

The Trust operates pursuant to the terms of a management agreement with the Managing Shareholder (“Management Agreement”). Under the terms of the Management Agreement, the Managing Shareholder provides certain management, administrative and advisory services and provides office space to the Trust. The Trust paid the Managing Shareholder an annual management fee of $310 and $655 for the years ended December 31, 2010 and 2009, respectively, an amount equal to 3% of the Trust’s prior year net asset value, as compensation for the services the Managing Shareholder provides to the Trust. The management fee is to be paid in monthly installments and, to the extent that the Trust does not pay the management fee on a timely basis, the Trust accrues interest at an annual rate of 10% on the unpaid balance.

~~Indeck Maine~~Under an Operating Agreement with the Trust, an affiliate of RRP, Ridgewood Power Management LLC (“RPM”), provided management, purchasing, engineering, planning and administrative services to the projects operated by the Trust. RPM charged the projects at its cost for these services and for the allocable amount of certain overhead items. Allocations of costs were on the basis of identifiable direct costs or in proportion to amounts invested in projects managed by RPM. For the years ended December 31, 2010 and 2009, RPM charged the Trust’s projects $240 and $581, respectively, for overhead items allocated in proportion to the amount invested in projects managed by RPM. In addition, for the years ended December 31, 2010 and 2009, RPM charged the Trust’s projects $3,787 and $6,465, respectively, for identifiable direct expenses. These charges may not be indicative of cost that would have been incurred if the projects were not operated by RPM. While in liquidation, RPM will continue to provide nominal administrative services to the Trust.

~~On December~~Under 22the Trust’s Declaration of Trust (“Declaration of Trust”), ~~2008~~the Managing Shareholder is entitled to receive, ~~Indeck~~concurrently ~~Maine~~with ~~completed~~the shareholders of the ~~sale~~Trust, ~~and~~other ~~transferred~~than ~~100~~the Managing Shareholder, 1% of all distributions from operations made by the ~~membership~~ ~~interests~~Trust in ~~Indeck~~a ~~Maine~~year tountil ~~Covanta~~the ~~Energy~~shareholders ~~Corporation~~have ~~for~~received ~~an aggregate~~distributions ~~price~~in that year equal to 14% per annum of ~~$53~~their equity contribution. Thereafter,~~858,~~ ~~which~~the ~~includes~~Managing anShareholder ~~estimated~~is ~~net~~entitled ~~working~~to ~~capital~~receive 20% of ~~$3,111~~ asthe ~~defined~~distributions infor the ~~purchase~~remainder ~~and~~of ~~sale~~the ~~agreement,~~year. asThe ~~amended,~~Managing ~~less~~Shareholder ~~estimated retention~~is ~~and~~entitled ~~vacation~~to ~~payments~~receive 1% of $1the proceeds from dispositions of Trust property until the shareholders,~~162~~ ~~relating~~other than the Managing Shareholder, have received cumulative distributions equal to ~~RPM~~their ~~staff~~original ~~based~~investment at(“Payout”). After Payout, the ~~Indeck~~ ~~Maine~~Managing ~~facilities.~~Shareholder ~~The~~is ~~Trust~~entitled ~~recorded~~to areceive ~~gain~~20% of ~~$7,197~~all onremaining distributions of the ~~sale~~Trust. ~~of Indeck~~Distributions ~~Maine~~to inthe Managing Shareholder for the ~~accompanying~~years ~~consolidated~~ended ~~statement~~December ~~of operations~~31, 2010 and 2009 were $420 and $96, respectively. The Trust reached Payout in December 2010.

~~Immediately prior~~The Trust’s income is allocated to the ~~sale~~Managing inShareholder ~~2008,~~until ~~Indeck~~the ~~Maine~~profits ~~transferred~~so toallocated aequal ~~wholly-owned~~distributions ~~subsidiary of~~to the ~~Trust~~Managing Shareholder. Thereafter, ~~specific~~income ~~accounts~~is ~~receivable~~allocated among the shareholders, ~~deposits~~other ~~and~~than ~~rights~~the Managing Shareholder, in proportion to ~~future~~their ~~cash flows~~ownership of Investor Shares. AsIf ~~these~~the ~~amounts were~~Trust ~~collected~~has net losses for a fiscal period, inthe ~~accordance~~losses ~~with~~are anallocated ~~agreement between~~99% to the ~~Trust~~shareholders, ~~Trust~~ Vother ~~and~~than ~~Indeck~~the ~~Energy~~Managing ~~Services~~Shareholder, ~~Inc.~~and ~~(“IES”), 45~~1% ~~was~~ ~~distributed~~ to ~~IES,~~the ~~27.5%~~Managing ~~distributed~~Shareholder, subject to ~~Trust~~certain Vlimitations ~~and~~as ~~the Trust retained~~set forth in the ~~other~~Declaration 27of Trust.~~5%.~~ ~~During~~Losses ~~2009~~allocated to shareholders, other than the ~~entire amount due~~Managing toShareholder, ~~Trust~~are Vapportioned ~~and~~among ~~IES~~them ~~was~~in ~~distributed~~proportion to their ownership of Investor Shares.

~~Summarized statement~~Under the terms of ~~operations~~the ~~data~~Declaration ~~for~~of ~~Indeck~~Trust, ~~Maine~~if ~~for~~the Adjusted Capital Account (as defined in the ~~period~~Declaration ~~from~~of ~~January~~Trust) 1of a shareholder, ~~2008~~ other than the Managing Shareholder, would become negative using General Allocations (as defined in the Declaration of Trust), losses and expenses will be allocated to ~~December~~the 22Managing Shareholder. Should the Managing Shareholder’s Adjusted Capital Account become negative, ~~2008~~then isany such items of income or gain will be allocated entirely to the Managing Shareholder until such time as ~~follows:~~the Managing Shareholder’s Adjusted Capital Account becomes positive. This mechanism does not change the allocation of cash distributions, as discussed above.

Revenues	$	37,421
Cost of revenues		35,776
Other expenses, net		2,105
Total expenses		37,881
Net (loss) income	$	(460	)
Trust share of (loss) income in Indeck Maine	$	(509	)

~~During the~~RRP ~~second~~owns ~~quarter~~2.0331 ofInvestor ~~2008,~~Shares ~~management~~of ~~fees due to IES’ board members totaling $933 was forgiven by~~ the ~~members~~Trust. ~~Indeck~~The ~~Maine~~Trust ~~has~~granted ~~recorded~~the ~~this~~Managing ~~forgiveness~~Shareholder as a ~~capital~~single ~~contribution.~~Management ~~The~~Share ~~Trust~~representing ~~and~~the ~~Trust~~Managing VShareholder’s ~~have~~management ~~each~~rights ~~recorded~~and ~~this forgiveness~~rights asto adistributions ~~deemed capital contribution~~ of ~~$467~~cash flow.

The Trust ~~assigned~~ ~~the~~records ~~excess~~short-term ~~purchase~~payables ~~price~~to ~~over~~and ~~the~~receivables ~~net~~from ~~assets~~its ~~acquired~~affiliates toin ~~fixed~~the ~~assets~~ordinary course of business. The ~~Trust~~amounts ~~depreciated~~payable ~~the~~to ~~fixed~~and ~~assets~~receivable ~~over~~from ~~their~~its ~~remaining~~affiliates, ~~useful~~other ~~lives~~than ~~using the~~amounts ~~unit~~relating ofto ~~production~~management ~~method. Depreciation~~fees ~~expense~~owed ofto ~~$279~~RRP, ~~for~~do ~~the~~not ~~year ended~~bear interest. At December 31, ~~2008,~~2010 ~~was~~and ~~included~~2009, in the ~~equity~~Trust ~~loss~~had outstanding receivables from ~~Indeck~~and ~~Maine~~payables in to affiliates, including estimated amounts that may be incurred while the ~~accompanying~~Trust ~~consolidated~~is ~~statements~~in ofliquidation, ~~operations.~~as follows:

4. ROYALTY EXPENSE

Prior to the formation of RILG, Ridgewood Providence and RRIG entered into agreements with Rhode Island Resource Recovery Corporation (“RIRRC”), the owner and operator of the Landfill, for the purpose of leasing the sites at the Landfill and to obtain the landfill gas rights necessary to operate the projects. The projects may occupy the site and take delivery of landfill gas for as long as the projects are able to generate electricity from such gas.

Under the prior existing RPS Attribute agreement between Ridgewood Providence and RIRRC, Ridgewood Providence is required to pay 15% net revenue royalties from the sale of its RPS Attributes to each of RIRRC and Ridgewood Gas Services LLC. In addition, Ridgewood Providence is also required to pay, as royalty, 18% of power generation revenue to RIRRC. Similarly, RRIG is required to pay a royalty to RIRRC equal to 15% of net revenues plus an amount equal to $0.18/MMBtu (adjusted for CPI) plus an amount equal to 10% of the net profits generated by RRIG in excess of a threshold profit level. The portion of the RRIG payment based on net profit is only to be made after RRIG has received a minimum return on its investment in the projects.

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RIDGEWOOD ELECTRIC POWER TRUST IV

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollar amounts in thousands, except per share data)

Effective November 17, 2008, RILG entered into new agreements with RIRRC which provide for a royalty of 15% of net revenue subject to certain credits, provided, however, that the existing royalty arrangement will remain in effect until the commercial operation of the new electric generating plant.

	Due From		Due To
	2009		2010

Ridgewood Power Management LLC	$	4		61
Ridgewood Renewable Power LLC		9		44
RILG		592		-
Trust I		-		29
Other affiliates		1		2
Total	$	606	$	136

For the period from January 1, 2008 to November 16, 2008, royalty expense paid by Ridgewood Providence to RIRRC amounted to $1,702, which is included in cost of revenues in the accompanying consolidated statements of operations. As the Trust’s interest in RILG is accounted for using the equity method of accounting, royalty expense for the year ended December 31, 2009 and from November 17, 2008 to December 31, 2008, is included in equity loss of RILG in the accompanying consolidated statement of operations.

5. COMMITMENTS AND CONTINGENCIES

RILG is obligated, under the terms of various agreements with RIRRC, to construct a new electric generating facility at the Landfill and 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 or June 1, 2013. RILG is also 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. If RILG fails to comply with these obligations, it could be subject to monetary damages and also forfeit its contracted gas rights. While the full cost of the expansion activities is not yet known, it is the opinion of the Managing Shareholder that RILG has insufficient capital to meet all of its obligations to expand its Landfill operations. As a result, for the development efforts to be completed, RILG must either be sold to entities that can invest in the development of these projects or 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.

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 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.

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.

6. TRANSACTIONS WITH MANAGING SHAREHOLDER AND AFFILIATES

The Trust operates pursuant to the terms of a management agreement (“Management Agreement”). Under the terms of the Management Agreement, the Managing Shareholder provides certain management, administrative and advisory services and office space to the Trust. The Trust paid the Managing Shareholder an annual management fee of $655 and $527 for the years ended December 31, 2009 and 2008, respectively, as compensation for the services the Managing Shareholder provides to the Trust, which was equal to 3% of the Trust’s prior year net asset value. The management fee is to be paid in monthly installments and, to the extent that the Trust does not pay the management fee on a timely basis, the Trust accrues interest at an annual rate of 10% on the unpaid balance.

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Table of Contents

RIDGEWOOD ELECTRIC POWER TRUST IV

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollar amounts in thousands, except per share data)

Under the Operating Agreement with the Trust, RPM provides management, purchasing, engineering, planning and administrative services to the projects operated by the Trust. RPM charges the projects at its cost for these services and for the allocable amount of certain overhead items. Allocations of costs are on the basis of identifiable direct costs or in proportion to amounts invested in projects managed by RPM. For the years ended December 31, 2009 and 2008, RPM charged the projects $581 and $947, respectively, for overhead items allocated in proportion to the amount invested in projects managed. In addition, for the years ended December 31, 2009 and 2008, RPM charged the projects $6,465 and $26,837, respectively, for direct expenses allocated in proportion to the amount invested in projects managed. These charges may not be indicative of costs incurred if the projects were not operated by RPM.

Under the Declaration of Trust, the Managing Shareholder is entitled to receive, concurrently with the shareholders of the Trust other than the Managing Shareholder, 1% of all distributions from operations made by the Trust in a year until the shareholders have received distributions in that year equal to 14% per annum of their equity contribution. Thereafter, the Managing Shareholder is entitled to receive 20% of the distributions for the remainder of the year. The Managing Shareholder is entitled to receive 1% of the proceeds from dispositions of Trust property until the shareholders other than the Managing Shareholder, have received cumulative distributions equal to their original investment (“Payout”). After Payout, the Managing Shareholder is entitled to receive 20% of all remaining distributions of the Trust. Distributions to the Managing Shareholder were $96 and $10 for the years ended December 31, 2009 and 2008, respectively. The Trust has not yet reached Payout.

Income is allocated to the Managing Shareholder until the profits so allocated equal distributions to the Managing Shareholder. Thereafter, income is allocated among the shareholders other than the Managing Shareholder in proportion to their ownership of Investor Shares. If the Trust has net losses for a fiscal period, the losses are allocated 99% to the shareholders other than the Managing Shareholder and 1% to the Managing Shareholder, subject to certain limitations as set forth in the Declaration of Trust. Amounts allocated to shareholders other than the Managing Shareholder are apportioned among them in proportion to their capital contributions.

Under the terms of the Declaration of Trust, if the Adjusted Capital Account (as defined in the Declaration of Trust) of a shareholder other than the Managing Shareholder would become negative using General Allocations (as defined in the Declaration of Trust), losses and expenses will be allocated to the Managing Shareholder. Should the Managing Shareholder’s Adjusted Capital Account become negative and items of income or gain occur, then such items of income or gain will be allocated entirely to the Managing Shareholder until such time as the Managing Shareholder’s Adjusted Capital Account becomes positive. This mechanism does not change the allocation of cash, as discussed above.

In accordance with the Declaration of Trust, upon or prior to the first distribution by the Trust in liquidation, the Managing Shareholder is required to contribute to the capital of the Trust an amount equal to any deficit in the tax basis capital account of the Managing Shareholder calculated just prior to the date of such distribution. As of December 31, 2008, the last date such calculation was made, the Managing Shareholder would have been required to contribute $119 to the Trust prior to the Trust making any liquidating distributions.

RRP owns 2.0331 Investor Shares of the Trust. The Trust granted the Managing Shareholder a single Management Share representing the Managing Shareholder’s management rights and rights to distributions of cash flow.

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 December 31, 2009 and 2008, the Trust had outstanding receivables and payables as follows:

	Due From		Due To
	2009		2008
Ridgewood Power Management LLC	$	4	$	20
Ridgewood Renewable Power LLC		9		8
Trust V		-		2,570
Maine Hydro		-		2
RILG		592		171
Other affiliates		1		-
Total	$	606	$	2,771

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Filing Compare · RIDGEWOOD ELECTRIC POWER TRUST IV