SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15 (d) OF THE

                       SECURITIES AND EXCHANGE ACT OF 1934

        Date of Report (Date of Earliest Event Reported): March 14, 2006
                                                          --------------




                                   CHARTERMAC
               --------------------------------------------------
               (Exact Name of Registrant as Specified in Charter)




                                    Delaware
                 ----------------------------------------------
                 (State or other Jurisdiction of Incorporation)



         1-13237                                         13-3949418
------------------------                    ------------------------------------
(Commission File Number)                    (IRS Employer Identification Number)



                     625 Madison Avenue, New York, NY 10022
                    ----------------------------------------
                    (Address of Principal Executive Offices)



       Registrant's telephone number, including area code: (212) 317-5700
                                                           --------------



                                 Not Applicable
          -------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)



Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions:

__ Written communications  pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
__ Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
__ Pre-commencement  communications  pursuant to Rule 14d-2(b)under the Exchange
Act (17 CFR 240.14d-2(b))
__ Pre-commencement  communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))


<PAGE>



ITEM 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS;  ELECTION OF DIRECTORS;
APPOINTMENT OF PRINCIPAL OFFICERS.

On March 14, 2006,  CharterMac's  announced that CharterMac's  Board of Trustees
has named Marc D. Schnitzer the Chief Executive Officer,  effective immediately.
Mr.  Schnitzer,  who has been the President of CharterMac  since 2003, is also a
managing trustee of CharterMac.  Mr. Schnitzer will replace Stephen M. Ross, who
has served as interim Chief Executive Officer since November 2005. Mr. Ross will
continue  to  serve  as the  Chairman  of  CharterMac.  The  appointment  of Mr.
Schnitzer  as Chief  Executive  Officer by the Board of  Trustees  followed  the
recommendation  of a special  search  committee  of the Board of Trustees  which
conducted a search for a new Chief Executive Officer.

Mr.  Schnitzer,  45, joined  CharterMac's  predecessor in 1986. Over the past 20
years, Mr.  Schnitzer has built the Company's fund management  division into the
nation's  preeminent sponsor of tax credit investment funds.  During his tenure,
the Company raised more than $7 billion in equity from Fortune 500 companies for
investment  in tax credit  properties.  Mr.  Schnitzer is a frequent  speaker at
industry  conferences  sponsored  by  the  National  Council  of  State  Housing
Agencies,  the National Housing and Rehabilitation  Association and the National
Association of  Homebuilders.  He is a member of the Executive  Committee of the
Board of Directors of the National  Multi Housing  Council and a Vice  President
and member of the  Executive  Committee  of the  Affordable  Housing  Tax Credit
Coalition.  Mr. Schnitzer received his Master of Business  Administration degree
from The Wharton  School of The University of  Pennsylvania  and his Bachelor of
Science  degree in  business  administration,  summa cum laude,  from the Boston
University  School of  Management.  Additional  information  with respect to Mr.
Schnitzer may be found in  CharterMac's  annual proxy  statement  filed with the
Securities and Exchange Commission on May 17, 2005.




ITEM 9.01. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
           ------------------------------------------------------------------

(a).     Financial Statements
         --------------------

         Not Applicable

(b).     Pro Forma Financial Information
         -------------------------------

         Not Applicable

(c).     Exhibits
         --------

         99.1  Press  Release  dated March 14, 2006,  "CharterMac  Names Marc D.
         Schnitzer Chief Executive Officer".


<PAGE>



                                   SIGNATURES

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



                                                     CharterMac
                                                     (Registrant)



                                                     BY: /s/ Marc D Schnitzer
                                                         --------------------
                                                         Marc D. Schnitzer
                                                         Chief Executive Officer
         March 15, 2006


<PAGE>



EXHIBIT 99.1

AT THE COMPANY
--------------
Brenda Abuaf, Director of Shareholder Services
(800) 831-4826


           CHARTERMAC NAMES MARC D. SCHNITZER CHIEF EXECUTIVE OFFICER

NEW YORK,  NY - MARCH 14, 2006 - CharterMac  (NYSE:CHC)  (the  "Company")  today
announced  that the Company's  Board of Trustees has named Marc D. Schnitzer the
Chief Executive Officer, effective immediately.  Mr. Schnitzer, who has been the
President of CharterMac since 2003, is also a managing trustee of the Company.

"Marc has been an  exceptional  leader  during  his tenure as  President  of the
Company," said Stephen M. Ross,  Chairman of CharterMac.  "His strategic  vision
for CharterMac, combined with his operational and management skills, make Marc a
strong and unifying force within our organization. He is a recognized and highly
regarded  figure within the real estate finance  industry.  Our belief that Marc
was the best  candidate to lead  CharterMac  was further  verified by the search
process  conducted  by a  special  committee  of our  Board of  Trustees,  which
concluded  that Marc was the clear  choice  for Chief  Executive  Officer of our
Company."

Mr.  Schnitzer will replace Mr. Ross, who has served as interim Chief  Executive
Officer since November, 2005. Mr. Ross will continue to serve as the Chairman of
CharterMac.

Mr.  Schnitzer,  45, joined  CharterMac's  predecessor in 1986. Over the past 20
years, Mr.  Schnitzer has built the Company's fund management  division into the
nation's  preeminent sponsor of tax credit investment funds.  During his tenure,
the Company raised more than $7 billion in equity from Fortune 500 companies for
investment  in tax credit  properties.  Mr.  Schnitzer is a frequent  speaker at
industry  conferences  sponsored  by  the  National  Council  of  State  Housing
Agencies,  the National Housing and Rehabilitation  Association and the National
Association of  Homebuilders.  He is a member of the Executive  Committee of the
Board of Directors of the National  Multi Housing  Council and a Vice  President
and member of the  Executive  Committee  of the  Affordable  Housing  Tax Credit
Coalition.  Mr. Schnitzer received his Master of Business  Administration degree
from The Wharton  School of The University of  Pennsylvania  and his Bachelor of
Science  degree in  business  administration,  summa cum laude,  from the Boston
University School of Management.

CharterMac,   through  its   subsidiaries,   is  one  of  the  nation's  leading
full-service  real  estate  finance  companies,  with a strong core focus on the
multifamily  industry.  CharterMac  offers  capital  solutions to developers and
owners  of  multifamily  rental  housing  throughout  the  country  and  quality
investment products to institutional and retail investors. For more information,
please visit CharterMac's  website at  http://www.chartermac.com  or contact the
Shareholder Services Department directly at (800) 831-4826.

CERTAIN  STATEMENTS  IN  THIS  PRESS  RELEASE  MAY  CONSTITUTE   FORWARD-LOOKING
STATEMENTS  WITHIN THE MEANING OF THE "SAFE  HARBOR"  PROVISIONS  OF THE PRIVATE
SECURITIES  LITIGATION  REFORM  ACT OF  1995.  THESE  STATEMENTS  ARE  BASED  ON
MANAGEMENT'S  CURRENT  EXPECTATIONS  AND  BELIEFS AND ARE SUBJECT TO A NUMBER OF
FACTORS AND  UNCERTAINTIES  THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY
FROM  THOSE  DESCRIBED  IN  THE  FORWARD-LOOKING  STATEMENTS.  THESE  RISKS  AND
UNCERTAINTIES  ARE DETAILED IN  CHARTERMAC'S  MOST RECENT  ANNUAL REPORT ON FORM
10-K, AND IN ITS OTHER FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION. SUCH
FORWARD-LOOKING  STATEMENTS  SPEAK  ONLY AS OF THE DATE OF THIS  PRESS  RELEASE.
CHARTERMAC EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO RELEASE PUBLICLY
ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING  STATEMENTS  CONTAINED HEREIN TO
REFLECT ANY CHANGE IN CHARTERMAC'S EXPECTATIONS WITH REGARD THERETO OR CHANGE IN
EVENTS, CONDITIONS, OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENT IS BASED.

                                       ###
[{"type": "8-K", "sequence": "1", "filename": "f8k_dec2005-charter2nd.txt", "description": "CHARTER SECOND 8-K DECEMBER 2005", "secsgml_size_bytes": 9580}]
{"company-data": {"conformed-name": "CHARTERMAC", "cik": "0001043325", "assigned-sic": "6500", "irs-number": "133916825", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13237", "film-number": "06694373"}, "business-address": {"street1": "625 MADISON AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "2124215333"}, "mail-address": {"street1": "625 MADISON AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10022"}, "former-company": {"former-conformed-name": "CHARTER MUNICIPAL MORTGAGE ACCEPTANCE CO", "date-changed": "19970801"}}
SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15 (d) OF THE

                       SECURITIES AND EXCHANGE ACT OF 1934

        Date of Report (Date of Earliest Event Reported): March 14, 2006
                                                          --------------

                                   CHARTERMAC
               --------------------------------------------------
               (Exact Name of Registrant as Specified in Charter)

                                    Delaware
                 ----------------------------------------------
                 (State or other Jurisdiction of Incorporation)

         1-13237                                         13-3949418
------------------------                    ------------------------------------
(Commission File Number)                    (IRS Employer Identification Number)

                     625 Madison Avenue, New York, NY 10022
                    ----------------------------------------
                    (Address of Principal Executive Offices)

       Registrant's telephone number, including area code: (212) 317-5700
                                                           --------------

                                 Not Applicable
          -------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions:

__ Written communications  pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
__ Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
__ Pre-commencement  communications  pursuant to Rule 14d-2(b)under the Exchange
Act (17 CFR 240.14d-2(b))
__ Pre-commencement  communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
ITEM 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS;  ELECTION OF DIRECTORS;
APPOINTMENT OF PRINCIPAL OFFICERS.

On March 14, 2006,  CharterMac's  announced that CharterMac's  Board of Trustees
has named Marc D. Schnitzer the Chief Executive Officer,  effective immediately.
Mr.  Schnitzer,  who has been the President of CharterMac  since 2003, is also a
managing trustee of CharterMac.  Mr. Schnitzer will replace Stephen M. Ross, who
has served as interim Chief Executive Officer since November 2005. Mr. Ross will
continue  to  serve  as the  Chairman  of  CharterMac.  The  appointment  of Mr.
Schnitzer  as Chief  Executive  Officer by the Board of  Trustees  followed  the
recommendation  of a special  search  committee  of the Board of Trustees  which
conducted a search for a new Chief Executive Officer.

Mr.  Schnitzer,  45, joined  CharterMac's  predecessor in 1986. Over the past 20
years, Mr.  Schnitzer has built the Company's fund management  division into the
nation's  preeminent sponsor of tax credit investment funds.  During his tenure,
the Company raised more than $7 billion in equity from Fortune 500 companies for
investment  in tax credit  properties.  Mr.  Schnitzer is a frequent  speaker at
industry  conferences  sponsored  by  the  National  Council  of  State  Housing
Agencies,  the National Housing and Rehabilitation  Association and the National
Association of  Homebuilders.  He is a member of the Executive  Committee of the
Board of Directors of the National  Multi Housing  Council and a Vice  President
and member of the  Executive  Committee  of the  Affordable  Housing  Tax Credit
Coalition.  Mr. Schnitzer received his Master of Business  Administration degree
from The Wharton  School of The University of  Pennsylvania  and his Bachelor of
Science  degree in  business  administration,  summa cum laude,  from the Boston
University  School of  Management.  Additional  information  with respect to Mr.
Schnitzer may be found in  CharterMac's  annual proxy  statement  filed with the
Securities and Exchange Commission on May 17, 2005.

ITEM 9.01. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
           ------------------------------------------------------------------

(a).     Financial Statements
         --------------------

         Not Applicable

(b).     Pro Forma Financial Information
         -------------------------------

         Not Applicable

(c).     Exhibits
         --------

         99.1  Press  Release  dated March 14, 2006,  "CharterMac  Names Marc D.
         Schnitzer Chief Executive Officer".
SIGNATURES

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

                                                     CharterMac
                                                     (Registrant)

                                                     BY: /s/ Marc D Schnitzer
                                                         --------------------
                                                         Marc D. Schnitzer
                                                         Chief Executive Officer
         March 15, 2006
EXHIBIT 99.1

AT THE COMPANY
--------------
Brenda Abuaf, Director of Shareholder Services
(800) 831-4826

           CHARTERMAC NAMES MARC D. SCHNITZER CHIEF EXECUTIVE OFFICER

NEW YORK,  NY - MARCH 14, 2006 - CharterMac  (NYSE:CHC)  (the  "Company")  today
announced  that the Company's  Board of Trustees has named Marc D. Schnitzer the
Chief Executive Officer, effective immediately.  Mr. Schnitzer, who has been the
President of CharterMac since 2003, is also a managing trustee of the Company.

"Marc has been an  exceptional  leader  during  his tenure as  President  of the
Company," said Stephen M. Ross,  Chairman of CharterMac.  "His strategic  vision
for CharterMac, combined with his operational and management skills, make Marc a
strong and unifying force within our organization. He is a recognized and highly
regarded  figure within the real estate finance  industry.  Our belief that Marc
was the best  candidate to lead  CharterMac  was further  verified by the search
process  conducted  by a  special  committee  of our  Board of  Trustees,  which
concluded  that Marc was the clear  choice  for Chief  Executive  Officer of our
Company."

Mr.  Schnitzer will replace Mr. Ross, who has served as interim Chief  Executive
Officer since November, 2005. Mr. Ross will continue to serve as the Chairman of
CharterMac.

Mr.  Schnitzer,  45, joined  CharterMac's  predecessor in 1986. Over the past 20
years, Mr.  Schnitzer has built the Company's fund management  division into the
nation's  preeminent sponsor of tax credit investment funds.  During his tenure,
the Company raised more than $7 billion in equity from Fortune 500 companies for
investment  in tax credit  properties.  Mr.  Schnitzer is a frequent  speaker at
industry  conferences  sponsored  by  the  National  Council  of  State  Housing
Agencies,  the National Housing and Rehabilitation  Association and the National
Association of  Homebuilders.  He is a member of the Executive  Committee of the
Board of Directors of the National  Multi Housing  Council and a Vice  President
and member of the  Executive  Committee  of the  Affordable  Housing  Tax Credit
Coalition.  Mr. Schnitzer received his Master of Business  Administration degree
from The Wharton  School of The University of  Pennsylvania  and his Bachelor of
Science  degree in  business  administration,  summa cum laude,  from the Boston
University School of Management.

CharterMac,   through  its   subsidiaries,   is  one  of  the  nation's  leading
full-service  real  estate  finance  companies,  with a strong core focus on the
multifamily  industry.  CharterMac  offers  capital  solutions to developers and
owners  of  multifamily  rental  housing  throughout  the  country  and  quality
investment products to institutional and retail investors. For more information,
please visit CharterMac's  website at  http://www.chartermac.com  or contact the
Shareholder Services Department directly at (800) 831-4826.

CERTAIN  STATEMENTS  IN  THIS  PRESS  RELEASE  MAY  CONSTITUTE   FORWARD-LOOKING
STATEMENTS  WITHIN THE MEANING OF THE "SAFE  HARBOR"  PROVISIONS  OF THE PRIVATE
SECURITIES  LITIGATION  REFORM  ACT OF  1995.  THESE  STATEMENTS  ARE  BASED  ON
MANAGEMENT'S  CURRENT  EXPECTATIONS  AND  BELIEFS AND ARE SUBJECT TO A NUMBER OF
FACTORS AND  UNCERTAINTIES  THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY
FROM  THOSE  DESCRIBED  IN  THE  FORWARD-LOOKING  STATEMENTS.  THESE  RISKS  AND
UNCERTAINTIES  ARE DETAILED IN  CHARTERMAC'S  MOST RECENT  ANNUAL REPORT ON FORM
10-K, AND IN ITS OTHER FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION. SUCH
FORWARD-LOOKING  STATEMENTS  SPEAK  ONLY AS OF THE DATE OF THIS  PRESS  RELEASE.
CHARTERMAC EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO RELEASE PUBLICLY
ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING  STATEMENTS  CONTAINED HEREIN TO
REFLECT ANY CHANGE IN CHARTERMAC'S EXPECTATIONS WITH REGARD THERETO OR CHANGE IN
EVENTS, CONDITIONS, OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENT IS BASED.

                                       ###