<PAGE> PAGE 1
000 B000000 08/31/94
000 C000000 0000894088
000 D000000 N
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000 F000000 Y
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000 I000000 3.0
000 J000000 A
001 A000000 THE JPM INSTITUTIONAL FUNDS
001 B000000 811-7342
001 C000000 6174230800
002 A000000 6 ST. JAMES AVENUE
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002 C000000 MA
002 D010000 02116
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007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C020600 THE JPM INSTITUTIONAL TAX EXEMPT BOND FUND
007 C030600 N
007 C010700 7
007 C020700 THE JPM INSTITUTIONAL TAX EXEMPT MONEY MKT FD
007 C030700 N
007 C010800 8
007 C010900 9
007 C011000 10
011 A00AA01 SIGNATURE BROKER DEALER SERVICES INC.
011 B00AA01 8-41134
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02116
012 A00AA01 STATE STREET BANK
012 B00AA01 85-50003
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02101
013 A00AA01 PRICE WATERHOUSE
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10020
015 A00AA01 STATE STREET BANK & TRUST
<PAGE> PAGE 2
015 B00AA01 C
015 C01AA01 BOSTON
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015 C03AA01 02101
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022 A000001 THE TAX EXEMPT BOND PORTFOLIO
022 B000001 04-3194405
022 C000001 18838
022 D000001 2571
022 A000002 TAX EXEMPT MONEY MARKET PORTFOLIO
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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
070 I010600 N
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<PAGE> PAGE 7
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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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SIGNATURE DONALD S RUMERY
TITLE ASSISTANT TREASURER
