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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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073 A010500 0.3460
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<PAGE> PAGE 22
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SIGNATURE DENNIS J. WESTLEY
TITLE SVP
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
12/31/96 N-SAR and is qualified in its entirety by reference to such N-SAR.
</LEGEND>
<CIK> 0000814436
<NAME> WILLIAM PENN INTEREST INCOME FUND
<SERIES>
<NUMBER> 1A
<NAME> US GOVERNMENT SECURITIES A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 56,974,195
<INVESTMENTS-AT-VALUE> 58,011,754
<RECEIVABLES> 363,593
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 58,375,347
<PAYABLE-FOR-SECURITIES> 19,407,750
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 114,098
<TOTAL-LIABILITIES> 19,521,848
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 38,408,157
<SHARES-COMMON-STOCK> 3,655,999
<SHARES-COMMON-PRIOR> 4,417,218
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (585,852)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,031,194
<NET-ASSETS> 38,853,499
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,921,775
<OTHER-INCOME> 0
<EXPENSES-NET> 429,237
<NET-INVESTMENT-INCOME> 2,492,538
<REALIZED-GAINS-CURRENT> 74,877
<APPREC-INCREASE-CURRENT> 1,103,589
<NET-CHANGE-FROM-OPS> 1,463,826
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,492,080
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 262,020
<NUMBER-OF-SHARES-REDEEMED> 1,167,532
<SHARES-REINVESTED> 114,293
<NET-CHANGE-IN-ASSETS> (8,884,944)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (661,721)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 280,365
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 571,856
<AVERAGE-NET-ASSETS> 43,108,000
<PER-SHARE-NAV-BEGIN> 10.80
<PER-SHARE-NII> .603
<PER-SHARE-GAIN-APPREC> (.220)
<PER-SHARE-DIVIDEND> .603
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.58
<EXPENSE-RATIO> .010
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
12/31/96 N-SAR and is qualified in its entirety by reference to such N-SAR.
</LEGEND>
<CIK> 0000814436
<NAME> WILLIAM PENN INTEREST INCOME FUND
<SERIES>
<NUMBER> 1B
<NAME> US GOVERNMENT SECURITIES C
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 56,974,195
<INVESTMENTS-AT-VALUE> 58,011,754
<RECEIVABLES> 363,593
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 58,375,347
<PAYABLE-FOR-SECURITIES> 19,407,750
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 114,098
<TOTAL-LIABILITIES> 19,521,848
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 38,408,157
<SHARES-COMMON-STOCK> 15,930
<SHARES-COMMON-PRIOR> 1,934
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (585,852)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,031,194
<NET-ASSETS> 38,853,499
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,921,775
<OTHER-INCOME> 0
<EXPENSES-NET> 429,237
<NET-INVESTMENT-INCOME> 2,492,538
<REALIZED-GAINS-CURRENT> 74,877
<APPREC-INCREASE-CURRENT> 1,103,589
<NET-CHANGE-FROM-OPS> 1,463,826
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,492,080
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15,492
<NUMBER-OF-SHARES-REDEEMED> 1,950
<SHARES-REINVESTED> 454
<NET-CHANGE-IN-ASSETS> (8,884,944)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (661,721)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 280,365
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 571,856
<AVERAGE-NET-ASSETS> 43,108,000
<PER-SHARE-NAV-BEGIN> 10.80
<PER-SHARE-NII> .518
<PER-SHARE-GAIN-APPREC> (.240)
<PER-SHARE-DIVIDEND> .518
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.56
<EXPENSE-RATIO> .016
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
12/31/96 NSAR and is qualified in its entirety by reference to such NSAR.
</LEGEND>
<CIK> 0000814436
<NAME> WILLIAM PENN INTEREST INCOME FUND
<SERIES>
<NUMBER> 2A
<NAME> QUALITY INCOME A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 42,126,906
<INVESTMENTS-AT-VALUE> 42,380,092
<RECEIVABLES> 1,742,979
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 44,123,071
<PAYABLE-FOR-SECURITIES> 12,409,328
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 102,460
<TOTAL-LIABILITIES> 12,511,788
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 32,056,227
<SHARES-COMMON-STOCK> 2,961,219
<SHARES-COMMON-PRIOR> 2,801,404
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (740,390)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 295,446
<NET-ASSETS> 31,611,283
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,001,368
<OTHER-INCOME> 0
<EXPENSES-NET> 233,117
<NET-INVESTMENT-INCOME> 1,768,251
<REALIZED-GAINS-CURRENT> 419,226
<APPREC-INCREASE-CURRENT> (697,750)
<NET-CHANGE-FROM-OPS> 1,489,727
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,767,265
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 586,715
<NUMBER-OF-SHARES-REDEEMED> 537,624
<SHARES-REINVESTED> 110,724
<NET-CHANGE-IN-ASSETS> 1,680,466
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (1,169,481)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 200,442
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 378,778
<AVERAGE-NET-ASSETS> 30,837,000
<PER-SHARE-NAV-BEGIN> 10.59
<PER-SHARE-NII> .592
<PER-SHARE-GAIN-APPREC> (.100)
<PER-SHARE-DIVIDEND> .592
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.49
<EXPENSE-RATIO> .007
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
12/31/96 NSAR and is qualified in its entirety by reference to such NSAR.
</LEGEND>
<CIK> 0000814436
<NAME> WILLIAM PENN INTEREST INCOME FUND
<SERIES>
<NUMBER> 2B
<NAME> QUALITY INCOME C
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 42,126,906
<INVESTMENTS-AT-VALUE> 42,380,092
<RECEIVABLES> 1,742,979
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 44,123,071
<PAYABLE-FOR-SECURITIES> 12,409,328
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 102,460
<TOTAL-LIABILITIES> 12,511,788
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 32,056,227
<SHARES-COMMON-STOCK> 52,266
<SHARES-COMMON-PRIOR> 24,159
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (740,390)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 295,446
<NET-ASSETS> 31,611,283
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,001,368
<OTHER-INCOME> 0
<EXPENSES-NET> 233,117
<NET-INVESTMENT-INCOME> 1,768,251
<REALIZED-GAINS-CURRENT> 419,226
<APPREC-INCREASE-CURRENT> (697,750)
<NET-CHANGE-FROM-OPS> 1,489,727
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,767,265
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 37,437
<NUMBER-OF-SHARES-REDEEMED> 10,939
<SHARES-REINVESTED> 1,609
<NET-CHANGE-IN-ASSETS> 1,680,466
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (1,169,481)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 200,442
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 378,778
<AVERAGE-NET-ASSETS> 30,837,000
<PER-SHARE-NAV-BEGIN> 10.59
<PER-SHARE-NII> .504
<PER-SHARE-GAIN-APPREC> (.120)
<PER-SHARE-DIVIDEND> .504
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.47
<EXPENSE-RATIO> .015
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
12/31/96 NSAR and is qualified in its entirety by reference to such NSAR.
</LEGEND>
<CIK> 0000814436
<NAME> WILLIAM PENN INTEREST INCOME FUND
<SERIES>
<NUMBER> 3A
<NAME> PENNSYLVANIA TAX-FREE INCOME A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 126,686,748
<INVESTMENTS-AT-VALUE> 130,196,876
<RECEIVABLES> 1,729,971
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 131,926,847
<PAYABLE-FOR-SECURITIES> 93,293
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 454,905
<TOTAL-LIABILITIES> 548,198
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 127,929,953
<SHARES-COMMON-STOCK> 11,755,483
<SHARES-COMMON-PRIOR> 10,950,369
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (61,432)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,510,128
<NET-ASSETS> 131,378,649
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,867,257
<OTHER-INCOME> 0
<EXPENSES-NET> 1,094,599
<NET-INVESTMENT-INCOME> 6,772,658
<REALIZED-GAINS-CURRENT> (82,525)
<APPREC-INCREASE-CURRENT> (2,919,813)
<NET-CHANGE-FROM-OPS> 3,770,320
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6,772,658
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,141,199
<NUMBER-OF-SHARES-REDEEMED> 1,617,410
<SHARES-REINVESTED> 281,325
<NET-CHANGE-IN-ASSETS> 7,422,035
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 21,093
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 833,858
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,618,322
<AVERAGE-NET-ASSETS> 128,284,000
<PER-SHARE-NAV-BEGIN> 11.31
<PER-SHARE-NII> .580
<PER-SHARE-GAIN-APPREC> (.270)
<PER-SHARE-DIVIDEND> .580
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.04
<EXPENSE-RATIO> .008
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
12/31/96 NSAR and is qualified in its entirety by reference to such NSAR.
</LEGEND>
<CIK> 0000814436
<NAME> WILLIAM PENN INTEREST INCOME FUND
<SERIES>
<NUMBER> 3B
<NAME> PENNSYLVANIA TAX-FREE INCOME C
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 126,686,748
<INVESTMENTS-AT-VALUE> 130,196,876
<RECEIVABLES> 1,729,971
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 131,926,847
<PAYABLE-FOR-SECURITIES> 93,293
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 454,905
<TOTAL-LIABILITIES> 548,198
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 127,929,953
<SHARES-COMMON-STOCK> 149,862
<SHARES-COMMON-PRIOR> 14,669
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (61,432)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,510,128
<NET-ASSETS> 131,378,649
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,867,257
<OTHER-INCOME> 0
<EXPENSES-NET> 1,094,599
<NET-INVESTMENT-INCOME> 6,772,658
<REALIZED-GAINS-CURRENT> (82,525)
<APPREC-INCREASE-CURRENT> (2,919,813)
<NET-CHANGE-FROM-OPS> 3,770,320
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6,772,658
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 153,114
<NUMBER-OF-SHARES-REDEEMED> 20,735
<SHARES-REINVESTED> 2,814
<NET-CHANGE-IN-ASSETS> 7,422,035
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 21,093
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 833,858
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,618,322
<AVERAGE-NET-ASSETS> 128,284,000
<PER-SHARE-NAV-BEGIN> 11.31
<PER-SHARE-NII> .492
<PER-SHARE-GAIN-APPREC> (.280)
<PER-SHARE-DIVIDEND> .492
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.03
<EXPENSE-RATIO> .016
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
12/31/96 NSAR and is qualified in its entirety by reference to such NSAR.
</LEGEND>
<CIK> 0000814436
<NAME> WILLIAM PENN INTEREST INCOME FUND
<SERIES>
<NUMBER> 4
<NAME> MONEY MARKET INCOME
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 18,491,065
<INVESTMENTS-AT-VALUE> 18,491,065
<RECEIVABLES> 14,538
<ASSETS-OTHER> 172,400
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 18,678,003
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,627
<TOTAL-LIABILITIES> 1,627
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 18,676,376
<SHARES-COMMON-STOCK> 18,676,376
<SHARES-COMMON-PRIOR> 12,041,397
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 18,676,376
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 843,122
<OTHER-INCOME> 0
<EXPENSES-NET> 101,520
<NET-INVESTMENT-INCOME> 741,602
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 741,602
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 741,602
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 29,466,823
<NUMBER-OF-SHARES-REDEEMED> 23,510,154
<SHARES-REINVESTED> 678,310
<NET-CHANGE-IN-ASSETS> 6,634,979
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 78,420
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 163,980
<AVERAGE-NET-ASSETS> 15,705,000
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .047
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .047
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .006
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
12/31/96 NSAR and is qualified in its entirety by reference to such NSAR.
</LEGEND>
<CIK> 0000814436
<NAME> WILLIAM PENN INTEREST INCOME FUND
<SERIES>
<NUMBER> 5
<NAME> NEW YORK TAX-FREE INCOME A
<S> <C>
<PERIOD-TYPE> 9MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 248,492
<INVESTMENTS-AT-VALUE> 252,737
<RECEIVABLES> 3,438
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 256,175
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 105
<TOTAL-LIABILITIES> 105
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 251,825
<SHARES-COMMON-STOCK> 25,179
<SHARES-COMMON-PRIOR> 0
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</TABLE>
