<PAGE> PAGE 1
000 B000000 09/30/99
000 C000000 0000799196
000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000
I000000 3.0 000 J000000 A
001 A000000 THE ELITE GROUP
001 B000000 811-4804
001 C000000 2066245863
002 A000000 1325-4TH AVE. #2144
002 B000000 SEATTLE
002 C000000 WA
002 D010000 98101
002 D020000 2509
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 THE ELITE GROUP GROWTH AND INCOME
007 C030100 N
007 C010200 2
007 C020200 THE ELITE GROUP INCOME
007 C030200 N
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 MCCORMICK CAPITAL MANAGEMENT
008 B00AA01 A
008 C00AA01 801-4804
008 D01AA01 SEATTLE
008 D02AA01 WA
008 D03AA01 98101
012 A00AA01 FIRST DATA INC
012 B00AA01 84-932
012 C01AA01 KING OF PRUSSIA
012 C02AA01 PA
012 C03AA01 19406
012 C04AA01 0903
013 A00AA01 TAIT, WELLER & BAKER
013 B01AA01 PHILADELPHIA
<PAGE> PAGE 2
013 B02AA01 PA
013 B03AA01 19103
015 A00AA01 UNITED MISSOURI BANK
015 B00AA01 C
015 C01AA01 KANSAS CITY
015 C02AA01 MO
015 C03AA01 64141
015 E01AA01 X
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
019 C00AA00 ELITEGROUP
020 A000001 PAINEWEBBER
020 B000001 13-2638166
020 C000001 267
020 A000002 BEAR, STRARNS AND COMPANY
020 B000002 13-3299429
020 C000002 119
020 A000003 CANTOR FITZGERALD AND COMPANY
020 B000003 13-3680184
020 C000003 16
020 A000004 PIPER JAFFREY US BANK
020 B000004 41-0953246
020 C000004 11
020 A000005 DAIN BOSWORTH
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020 C000005 5
020 A000006 RAYMOND JAMES
020 B000006 13-9141846
020 C000006 4
020 A000007 FIRST WASHINGTON
020 B000007 91-0288295
020 C000007 2
020 A000008 MORGAN STANLEY
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<PAGE> PAGE 3
022 A000003 BEAR STEARNS
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022 A000004 CANTOR FITZGERALD
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022 C000004 6271
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022 A000005 MERRILL LYNCH, PIECE, FINNIE & SMITH
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022 C000007 485
022 D000007 490
022 A000008 DONALD LUFKIN & JENERETTE
022 B000008 13-8177667
022 C000008 538
022 D000008 0
022 A000009 SPEAR LEADS
022 B000009 13-8885599
022 C000009 363
022 D000009 0
022 A000010 FITZGERALD, DAVIS & ASSOC.
022 B000010 13-1073010
022 C000010 148
022 D000010 0
023 C000000 46808
023 D000000 31629
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<PAGE> PAGE 4
026 H000000 N
027 000000 Y
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030 B00AA00 0.00
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<PAGE> PAGE 5
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
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054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
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055 A00AA00 N
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077 A000000 Y
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080 A00AA00 NATIONAL UNION FIRE INSURANCE COMPANY
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<PAGE> PAGE 6
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<PAGE> PAGE 7
070 G010100 N
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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SIGNATURE RICHARD S. MCCORMICK
TITLE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The following FDS has been rounded to the nearest thousand.
</LEGEND>
<CIK> 0000799196
<NAME> The Elite Group
<SERIES>
<NAME> The Elite Growth and Income Fund
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<CURRENCY> US DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
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<PERIOD-START> Oct-1-1998
<PERIOD-END> Sep-30-1999
<EXCHANGE-RATE> 1.00
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<SHARES-REINVESTED> 22
<NET-CHANGE-IN-ASSETS> (3,323)
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<RETURNS-OF-CAPITAL> 0.00
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<TABLE> <S> <C>
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The following FDS has been rounded to the nearest thousand.
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<CIK> 0000799196
<NAME> The Elite Group
<SERIES>
<NAME> The Elite Income Fund
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</TABLE>
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
ON INTERNAL CONTROL STRUCTURE
Shareholders and Board of Trustees
The Elite Group
Seattle, Washington
In planning and performing our audit of the financial statements of The
Elite Growth and Income Fund and The Elite Income Fund, each a series of shares
of The Elite Group, for the year ended September 30, 1999 we considered its
internal control structure, including procedures for safeguarding securities, in
order to determine our auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the requirements of Form
N-SAR, not to provide assurance on the internal control structure.
The management of the Funds is responsible for establishing and maintaining
an internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and related
costs of internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded against loss
from unauthorized use or disposition, and that transactions are executed in
accordance with management's authorization and recorded properly to permit
preparation of financial statements in conformity with generally accepted
accounting principles.
Because of inherent limitations in any internal control structure, errors
or irregularities may occur and not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it may
become inadequate because of changes in conditions or that the effectiveness of
the design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses, as defined above, as of
September 30, 1999.
This report is intended solely for the information and use of management
and the Securities and Exchange Commission, and should not be used for any other
purpose.
TAIT, WELLER & BAKER
Philadelphia, Pennsylvania
October 20, 1999
