# Carlisle Tax Credit Advisors

> Carlisle Tax Credit Advisors is an SEC-registered investment advisory firm, registered since 2013, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 151461
- Filed as: CARLISLE TAX CREDIT ADVISORS
- Legal name: Carlisle Tax Credits LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/151461
- AdvisorCensus page: https://advisorcensus.com/firm/carlisle-tax-credit-advisors-151461

## Quick answers

**How is Carlisle Tax Credit Advisors compensated?**
On its Form ADV (Item 5.E, October 2026), Carlisle Tax Credit Advisors reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Is Carlisle Tax Credit Advisors registered with the SEC or a state?**
Carlisle Tax Credit Advisors is an SEC-registered investment advisory firm, registered since 2013. Status as filed: Approved. CRD 151461.

**How much does Carlisle Tax Credit Advisors manage?**
Carlisle Tax Credit Advisors reports $444,183,271 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (0% discretionary).

**How have Carlisle Tax Credit Advisors' assets and staff changed since 2021?**
In the Form ADV data for Carlisle Tax Credit Advisors: Regulatory assets under management: $469,838,904 in the October 2021 data and $444,183,271 in the October 2026 data, down 5%. Total employees: 6 in October 2021 and 8 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Carlisle Tax Credit Advisors serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (4); insurance companies (2).

**Does Carlisle Tax Credit Advisors report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/151461

**What changed in Carlisle Tax Credit Advisors' recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $498,102,003 to $444,183,271 (-11%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)

### Regulatory assets under management (Item 5.F)
- Total: $444,183,271
- Discretionary: $0
- Non-discretionary: $444,183,271

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 4 | $254,096,017 |
| Insurance companies | 2 | $190,087,254 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Other

### Firm details
- Registered since: 2013 (13 years)
- Employees: 8 total, 5 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: MA, PA, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Lowell, MA

### Websites listed on Form ADV (Item 1.I)
- carlisletaxcredits.com
- LinkedIn @carlisle-tax-credit-advisors-llc

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $469,838,904 | 6 | March 24, 2021 |
| October 2022 | $477,057,633 | 5 | March 31, 2022 |
| October 2023 | $468,234,769 | 6 | March 30, 2023 |
| October 2024 | $472,797,962 | 6 | April 1, 2024 |
| October 2025 | $498,102,003 | 7 | April 1, 2025 |
| October 2026 | $444,183,271 | 8 | March 31, 2026 |

Regulatory assets under management: $469,838,904 in the October 2021 data and $444,183,271 in the October 2026 data, down 5%.
Total employees: 6 in October 2021 and 8 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $498,102,003 to $444,183,271 (-11%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Carlisle Tax Credit Advisors (CRD 151461): Form ADV filing data as of October 2026.