<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000812073
<NAME> NORTH CAROLINA TAX-FREE BOND FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-2000
<PERIOD-END> AUG-31-2000
<INVESTMENTS-AT-COST> 13,686,055
<INVESTMENTS-AT-VALUE> 13,799,066
<RECEIVABLES> 209,631
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 3,238
<TOTAL-ASSETS> 14,011,935
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 44,028
<TOTAL-LIABILITIES> 44,028
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13,977,800
<SHARES-COMMON-STOCK> 1,319,562
<SHARES-COMMON-PRIOR> 1,333,178
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (122,904)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 113,011
<NET-ASSETS> 13,967,907
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 733,362
<OTHER-INCOME> 0
<EXPENSES-NET> 116,656
<NET-INVESTMENT-INCOME> 616,706
<REALIZED-GAINS-CURRENT> (122,904)
<APPREC-INCREASE-CURRENT> 329,262
<NET-CHANGE-FROM-OPS> 823,064
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 616,706
<DISTRIBUTIONS-OF-GAINS> 13,244
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 327,351
<NUMBER-OF-SHARES-REDEEMED> 392,920
<SHARES-REINVESTED> 51,953
<NET-CHANGE-IN-ASSETS> 60,120
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 13,244
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 48,035
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 186,778
<AVERAGE-NET-ASSETS> 13,711,865
<PER-SHARE-NAV-BEGIN> 10.43
<PER-SHARE-NII> 0.46
<PER-SHARE-GAIN-APPREC> 0.17
<PER-SHARE-DIVIDEND> 0.46
<PER-SHARE-DISTRIBUTIONS> 0.01
<RETURNS-OF-CAPITAL> .00
<PER-SHARE-NAV-END> 10.59
<EXPENSE-RATIO> 0.85
</TABLE>