<PAGE> PAGE 1
000 B000000 12/31/1999
000 C000000 0000916490
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 THE TIMOTHY PLAN
001 B000000 811-08228
001 C000000 4076441986
002 A000000 1304 W FAIRBANKS AVE
002 B000000 WINTER PARK
002 C000000 FL
002 D010000 32789
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C020100 SMALL-CAP VALUE FUND
007 C030100 N
007 C010200 2
007 C020200 LARGE/MID-CAP VALUE FUND
007 C030200 N
007 C010300 3
007 C020300 FIXED INCOME FUND
007 C030300 N
007 C010400 4
007 C020400 MONEY MARKET FUND
007 C030400 N
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
010 A00AA01 UNIFIED FUND SERVICES INC
010 B00AA01 801-08136
010 C01AA01 INDIANAPOLIS
010 C02AA01 IN
010 C03AA01 46204
011 A00AA01 TIMOTHY PARTNERS, LTD
011 B00AA01 8-49589
011 C01AA01 WINTER PARK
011 C02AA01 FL
011 C03AA01 32789
012 A00AA01 UNIFIED FUND SERVICES INC
<PAGE> PAGE 2
012 B00AA01 84-9999999
012 C01AA01 INDIANAPOLIS
012 C02AA01 IN
012 C03AA01 46204
013 A00AA01 TAIT, WELLER & BAKER
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19103
014 A00AA01 TIMOTHY PARTNERS, LTD
014 B00AA01 8-49589
015 A00AA01 FIRSTAR BANK, NA
015 B00AA01 C
015 C01AA01 CINCINNATI
015 C02AA01 OH
015 C03AA01 45202
015 E01AA01 X
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 ROBINSON HUMPHREY
020 C000001 16
020 A000002 RAYMOND JAMES
020 C000002 9
020 A000003 FIRST ANALYSIS
020 C000003 5
020 A000004 MCDONALD & COMPANY
020 C000004 5
020 A000005 BEAR STEARNS
020 C000005 5
020 A000006 HAMBRECHT & QUIST
020 C000006 4
020 A000007 SOLOMON SMITH BARNEY
020 C000007 3
020 A000008 SCHROEDER SECS LTD
020 C000008 3
020 A000009 BREAN MURRAY
020 C000009 3
020 A000010 PAINE WEBBER
020 C000010 1
021 000000 64
022 A000001 FIRSTAR BANK TREASURY FUND
022 C000001 20983
022 D000001 17326
022 A000002 FIRSTAR BANK REPO
022 C000002 2394
022 D000002 0
022 A000003 FEDERAL HOME LOAN BANK
022 C000003 639
022 D000003 0
022 A000004 FMC
022 C000004 271
<PAGE> PAGE 3
022 D000004 0
022 A000005 US LEASING INTL
022 C000005 67
022 D000005 43
022 A000006 FNMA
022 C000006 49
022 D000006 0
022 A000007 PEP BOYS
022 C000007 48
022 D000007 0
022 A000008 TX STATE UNIV
022 C000008 47
022 D000008 0
022 A000009 CSX TRANSPORTATION
022 C000009 41
022 D000009 0
022 A000010 TRW INC
022 C000010 36
022 D000010 0
023 C000000 24712
023 D000000 17369
024 00AA00 N
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
<PAGE> PAGE 4
054 M00AA00 Y
054 N00AA00 Y
054 O00AA00 Y
055 A00AA00 N
055 B00AA00 N
056 00AA00 N
057 00AA00 N
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
008 A000101 TIMOTHY PARNERS, LTD
008 B000101 A
008 C000101 801-45766
008 D010101 WINTER PARK
008 D020101 FL
008 D030101 32789
008 A000102 AWAD & ASSOCIATES
008 B000102 S
008 C000102 801-10418
008 D010102 NEW YORK
008 D020102 NY
008 D030102 10022
<PAGE> PAGE 5
028 A010100 239
028 A020100 0
028 A030100 0
028 A040100 541
028 B010100 427
028 B020100 0
028 B030100 0
028 B040100 692
028 C010100 311
028 C020100 0
028 C030100 0
028 C040100 307
028 D010100 285
028 D020100 0
028 D030100 0
028 D040100 678
028 E010100 578
028 E020100 0
028 E030100 0
028 E040100 683
028 F010100 318
028 F020100 0
028 F030100 0
028 F040100 1371
028 G010100 2158
028 G020100 0
028 G030100 0
028 G040100 4272
028 H000100 538
029 000100 Y
030 A000100 58
030 B000100 5.50
030 C000100 0.00
031 A000100 12
031 B000100 0
032 000100 46
033 000100 0
034 000100 Y
035 000100 20
036 A000100 N
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 0
042 E000100 0
<PAGE> PAGE 6
042 F000100 0
042 G000100 0
042 H000100 100
043 000100 132
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.850
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
058 A000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 1000
062 A000100 N
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
<PAGE> PAGE 7
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 Y
066 E000100 N
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 N
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 Y
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 N
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 15022
<PAGE> PAGE 8
071 B000100 18919
071 C000100 22421
071 D000100 67
072 A000100 12
072 B000100 182
072 C000100 178
072 D000100 0
072 E000100 0
072 F000100 220
072 G000100 27
072 H000100 0
072 I000100 33
072 J000100 7
072 K000100 0
072 L000100 4
072 M000100 0
072 N000100 22
072 O000100 0
072 P000100 0
072 Q000100 35
072 R000100 19
072 S000100 26
072 T000100 132
072 U000100 3
072 V000100 0
072 W000100 115
072 X000100 643
072 Y000100 129
072 Z000100 -154
072AA000100 4062
072BB000100 6388
072CC010100 5469
072CC020100 0
072DD010100 0
072DD020100 0
072EE000100 0
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 85
074 B000100 0
074 C000100 0
074 D000100 360
074 E000100 0
074 F000100 23783
074 G000100 0
074 H000100 0
074 I000100 3452
074 J000100 12
074 K000100 204
<PAGE> PAGE 9
074 L000100 36
074 M000100 39
074 N000100 27971
074 O000100 47
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 77
074 S000100 0
074 T000100 27847
074 U010100 1091
074 U020100 1208
074 V010100 12.26
074 V020100 11.88
074 W000100 0.0000
074 X000100 4416
074 Y000100 0
075 A000100 0
075 B000100 25818
076 000100 0.00
080 A000100 CHUBB INSUANCE CO.
080 C000100 500000
081 A000100 N
081 B000100 0
082 A000100 Y
082 B000100 10000
083 A000100 N
083 B000100 0
084 A000100 N
084 B000100 0
085 A000100 N
008 A000201 TIMOTHY PARTNERS, LTD
008 B000201 A
008 C000201 801-45766
008 D010201 WINTER PARK
008 D020201 FL
008 D030201 32789
008 A000202 FOX ASSET MANAGEMENT INC
008 B000202 S
008 C000202 801-26397
008 D010202 LITTLE SILVER
008 D020202 NJ
008 D030202 07739
028 A010200 271
028 A020200 0
028 A030200 0
028 A040200 0
028 B010200 383
028 B020200 0
<PAGE> PAGE 10
028 B030200 0
028 B040200 0
028 C010200 158
028 C020200 0
028 C030200 0
028 C040200 0
028 D010200 165
028 D020200 0
028 D030200 0
028 D040200 2
028 E010200 425
028 E020200 0
028 E030200 0
028 E040200 36
028 F010200 199
028 F020200 6
028 F030200 0
028 F040200 0
028 G010200 1601
028 G020200 6
028 G030200 0
028 G040200 38
028 H000200 160
029 000200 Y
030 A000200 8
030 B000200 5.50
030 C000200 0.00
031 A000200 1
031 B000200 0
032 000200 7
033 000200 0
034 000200 Y
035 000200 0
036 A000200 N
036 B000200 0
037 000200 N
038 000200 0
039 000200 N
040 000200 Y
041 000200 Y
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 100
043 000200 2
044 000200 0
045 000200 Y
<PAGE> PAGE 11
046 000200 N
047 000200 Y
048 000200 0.850
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
062 A000200 N
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
071 A000200 1469
071 B000200 58
071 C000200 725
071 D000200 8
072 A000200 12
072 B000200 3
072 C000200 8
072 D000200 0
<PAGE> PAGE 12
072 E000200 0
072 F000200 3
072 G000200 2
072 H000200 0
072 I000200 0
072 J000200 0
072 K000200 0
072 L000200 0
072 M000200 0
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 6
072 R000200 0
072 S000200 0
072 T000200 2
072 U000200 0
072 V000200 0
072 W000200 7
072 X000200 20
072 Y000200 12
072 Z000200 3
072AA000200 3
072BB000200 15
072CC010200 0
072CC020200 0
072DD010200 2
072DD020200 1
072EE000200 3
073 A010200 0.1300
073 A020200 0.0400
073 B000200 0.0800
073 C000200 0.0000
074 A000200 0
074 B000200 0
074 C000200 0
074 D000200 0
074 E000200 0
074 F000200 1400
074 G000200 0
074 H000200 0
074 I000200 83
074 J000200 0
074 K000200 12
074 L000200 116
074 M000200 1
074 N000200 1612
074 O000200 42
074 P000200 0
074 Q000200 0
074 R010200 0
<PAGE> PAGE 13
074 R020200 0
074 R030200 0
074 R040200 40
074 S000200 0
074 T000200 1530
074 U010200 13
074 U020200 24
074 V010200 9.83
074 V020200 9.78
074 W000200 0.0000
074 X000200 214
074 Y000200 0
075 A000200 0
075 B000200 832
076 000200 0.00
080 A000200 CHUBB INSURANCE CO.
080 C000200 500000
081 A000200 N
081 B000200 0
082 A000200 Y
082 B000200 500000
083 A000200 N
083 B000200 0
084 A000200 N
084 B000200 0
085 A000200 N
085 B000200 N
008 A000301 TIMOTHY PARTNERS, LTD
008 B000301 A
008 C000301 801-45766
008 D010301 WINTER PARK
008 D020301 FL
008 D030301 32789
008 A000302 CARR & ASSOCIATES, INC.
008 B000302 S
008 C000302 801-55060
008 D010302 NEW YORK
008 D020302 NY
008 D030302 10038
028 A010300 62
028 A020300 0
028 A030300 0
028 A040300 0
028 B010300 122
028 B020300 0
028 B030300 0
028 B040300 0
028 C010300 78
028 C020300 0
028 C030300 0
028 C040300 0
<PAGE> PAGE 14
028 D010300 73
028 D020300 0
028 D030300 0
028 D040300 0
028 E010300 60
028 E020300 0
028 E030300 0
028 E040300 75
028 F010300 116
028 F020300 5
028 F030300 0
028 F040300 4
028 G010300 511
028 G020300 5
028 G030300 0
028 G040300 79
028 H000300 0
029 000300 Y
030 A000300 5
030 B000300 5.50
030 C000300 0.00
031 A000300 0
031 B000300 0
032 000300 5
033 000300 0
034 000300 Y
035 000300 20
036 A000300 N
036 B000300 0
037 000300 N
038 000300 0
039 000300 N
040 000300 Y
041 000300 Y
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 100
043 000300 1
044 000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.600
048 A010300 0
048 A020300 0.000
048 B010300 0
<PAGE> PAGE 15
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
062 A000300 N
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
071 A000300 376
071 B000300 43
071 C000300 195
071 D000300 22
072 A000300 12
072 B000300 8
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 1
072 G000300 2
072 H000300 0
072 I000300 0
072 J000300 0
<PAGE> PAGE 16
072 K000300 0
072 L000300 0
072 M000300 0
072 N000300 0
072 O000300 0
072 P000300 0
072 Q000300 6
072 R000300 0
072 S000300 0
072 T000300 1
072 U000300 0
072 V000300 0
072 W000300 6
072 X000300 16
072 Y000300 14
072 Z000300 6
072AA000300 0
072BB000300 0
072CC010300 0
072CC020300 8
072DD010300 2
072DD020300 3
072EE000300 0
073 A010300 0.1300
073 A020300 0.1200
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 0
074 D000300 325
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 132
074 J000300 0
074 K000300 14
074 L000300 11
074 M000300 1
074 N000300 481
074 O000300 48
074 P000300 0
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 8
074 S000300 0
074 T000300 425
074 U010300 13
<PAGE> PAGE 17
074 U020300 25
074 V010300 9.83
074 V020300 9.78
074 W000300 0.0000
074 X000300 53
074 Y000300 0
075 A000300 0
075 B000300 247
076 000300 0.00
080 A000300 CHUBB INSURANCE CO.
080 C000300 500000
081 A000300 N
081 B000300 0
082 A000300 Y
082 B000300 10000
083 A000300 N
083 B000300 0
084 A000300 N
084 B000300 0
085 A000300 N
085 B000300 N
008 A000401 TIMOTHY PARTNERS, LTD.
008 B000401 A
008 C000401 801-45766
008 D010401 WINTER PARK
008 D020401 FL
008 D030401 32789
008 A000402 CARR & ASSOCIATES, INC.
008 B000402 S
008 C000402 801-55060
008 D010402 NEW YORK
008 D020402 NY
008 D030402 10038
028 A010400 34
028 A020400 0
028 A030400 0
028 A040400 0
028 B010400 159
028 B020400 0
028 B030400 0
028 B040400 0
028 C010400 149
028 C020400 1
028 C030400 0
028 C040400 8
028 D010400 113
028 D020400 1
028 D030400 0
028 D040400 21
028 E010400 215
028 E020400 2
<PAGE> PAGE 18
028 E030400 0
028 E040400 87
028 F010400 380
028 F020400 3
028 F030400 0
028 F040400 180
028 G010400 1050
028 G020400 7
028 G030400 0
028 G040400 296
028 H000400 0
029 000400 N
030 A000400 0
030 B000400 0.00
030 C000400 0.00
031 A000400 0
031 B000400 0
032 000400 0
033 000400 0
034 000400 N
035 000400 0
036 B000400 0
037 000400 N
038 000400 0
039 000400 N
040 000400 N
041 000400 N
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.600
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
<PAGE> PAGE 19
048 K010400 0
048 K020400 0.000
062 A000400 N
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
071 A000400 0
071 B000400 0
071 C000400 0
071 D000400 0
072 A000400 12
072 B000400 8
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 1
072 G000400 2
072 H000400 0
072 I000400 0
072 J000400 0
072 K000400 0
072 L000400 0
072 M000400 0
072 N000400 0
072 O000400 0
072 P000400 0
072 Q000400 3
072 R000400 0
072 S000400 0
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 3
072 X000400 9
072 Y000400 8
072 Z000400 7
072AA000400 0
<PAGE> PAGE 20
072BB000400 0
072CC010400 0
072CC020400 0
072DD010400 7
072DD020400 0
072EE000400 0
073 A010400 0.0200
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 741
074 D000400 0
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 8
074 L000400 96
074 M000400 0
074 N000400 845
074 O000400 0
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 85
074 S000400 0
074 T000400 760
074 U010400 760
074 U020400 0
074 V010400 1.00
074 V020400 0.00
074 W000400 0.0000
074 X000400 81
074 Y000400 0
075 A000400 0
075 B000400 4091
076 000400 0.00
080 A000400 CHUBB INSURANCE CO.
080 C000400 500000
081 A000400 N
081 B000400 0
082 A000400 Y
082 B000400 10000
083 A000400 N
083 B000400 0
<PAGE> PAGE 21
084 A000400 N
084 B000400 0
085 A000400 N
085 B000400 N
SIGNATURE ARTHUR D ALLY
TITLE PRESIDENT
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
ON INTERNAL CONTROL STRUCTURE
Shareholders and Board of Trustees
The Timothy Plan
Winter Park, Florida
In planning and performing our audit of the financial statements of The Timothy
Plan Small-Cap Value Fund, The Timothy Plan Large/Mid-Cap Value Fund, The
Timothy Plan Fixed Income Fund and The Timothy Plan Money Market Fund, each a
series of shares of The Timothy Plan for the year ended December 31, 1999, we
considered their 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
December 31, 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
February 25, 2000
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 11
<NAME> Small Cap Value Fund - Class A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-START> Jul-1-1999
<PERIOD-END> Dec-31-1999
<INVESTMENTS-AT-COST> 22215871
<INVESTMENTS-AT-VALUE> 27595507
<RECEIVABLES> 48263
<ASSETS-OTHER> 214495
<OTHER-ITEMS-ASSETS> 28252
<TOTAL-ASSETS> 27971464
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 123539
<TOTAL-LIABILITIES> 123539
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25814592
<SHARES-COMMON-STOCK> 1091427
<SHARES-COMMON-PRIOR> 13360822
<ACCUMULATED-NII-CURRENT> (153596)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3346303)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5379636
<NET-ASSETS> 13376897
<DIVIDEND-INCOME> 178418
<INTEREST-INCOME> 181866
<OTHER-INCOME> 0
<EXPENSES-NET> 513880
<NET-INVESTMENT-INCOME> (153596)
<REALIZED-GAINS-CURRENT> (2321822)
<APPREC-INCREASE-CURRENT> 5469363
<NET-CHANGE-FROM-OPS> 2993945
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3121258
<NUMBER-OF-SHARES-REDEEMED> 4460818
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (2547761)
<ACCUMULATED-NII-PRIOR> 79049
<ACCUMULATED-GAINS-PRIOR> (3295834)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 220068
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 643475
<AVERAGE-NET-ASSETS> 12354213
<PER-SHARE-NAV-BEGIN> 10.89
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> 1.39
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.26
<EXPENSE-RATIO> 1.60
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 12
<NAME> Small Cap Value Fund - Class B
<S> <C>
<PERIOD-TYPE> Year
<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-START> Jul-1-1999
<PERIOD-END> Dec-31-1999
<INVESTMENTS-AT-COST> 22215871
<INVESTMENTS-AT-VALUE> 27595507
<RECEIVABLES> 48263
<ASSETS-OTHER> 214495
<OTHER-ITEMS-ASSETS> 28252
<TOTAL-ASSETS> 27971464
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 123539
<TOTAL-LIABILITIES> 123539
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25814592
<SHARES-COMMON-STOCK> 1207799
<SHARES-COMMON-PRIOR> 1342912
<ACCUMULATED-NII-CURRENT> (153596)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2321822)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5469363
<NET-ASSETS> 14350941
<DIVIDEND-INCOME> 178418
<INTEREST-INCOME> 181866
<OTHER-INCOME> 0
<EXPENSES-NET> 513880
<NET-INVESTMENT-INCOME> (153596)
<REALIZED-GAINS-CURRENT> (2321822)
<APPREC-INCREASE-CURRENT> 5469363
<NET-CHANGE-FROM-OPS> 2993945
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2412768
<NUMBER-OF-SHARES-REDEEMED> 3732982
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (2547761)
<ACCUMULATED-NII-PRIOR> 89141
<ACCUMULATED-GAINS-PRIOR> (1746792)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 220068
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 643475
<AVERAGE-NET-ASSETS> 13422923
<PER-SHARE-NAV-BEGIN> 10.70
<PER-SHARE-NII> (0.11)
<PER-SHARE-GAIN-APPREC> 0.29
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.88
<EXPENSE-RATIO> 2.35
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 13
<NAME> Small Cap Value Fund - Class C
<S> <C>
<PERIOD-TYPE> Year
<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-START> Jul-31-1999
<PERIOD-END> Dec-31-1999
<INVESTMENTS-AT-COST> 22215871
<INVESTMENTS-AT-VALUE> 27595507
<RECEIVABLES> 48263
<ASSETS-OTHER> 214495
<OTHER-ITEMS-ASSETS> 28252
<TOTAL-ASSETS> 27971464
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 123539
<TOTAL-LIABILITIES> 123539
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25814592
<SHARES-COMMON-STOCK> 11184
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (153596)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2321822)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5469363
<NET-ASSETS> 120087
<DIVIDEND-INCOME> 178418
<INTEREST-INCOME> 181866
<OTHER-INCOME> 0
<EXPENSES-NET> 513880
<NET-INVESTMENT-INCOME> (153596)
<REALIZED-GAINS-CURRENT> (2321822)
<APPREC-INCREASE-CURRENT> 5469362
<NET-CHANGE-FROM-OPS> 2993945
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 157951
<NUMBER-OF-SHARES-REDEEMED> 45938
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (2547761)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 220068
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 643475
<AVERAGE-NET-ASSETS> 88746
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (0.05)
<PER-SHARE-GAIN-APPREC> 0.69
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.74
<EXPENSE-RATIO> 2.35
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 21
<NAME> Large/Mid Cap Value Fund - Class A
<S> <C>
<PERIOD-TYPE> Year
<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-START> Jul-1-1999
<PERIOD-END> Dec-31-1999
<INVESTMENTS-AT-COST> 1483221
<INVESTMENTS-AT-VALUE> 1482781
<RECEIVABLES> 116356
<ASSETS-OTHER> 13794
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1612931
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 83268
<TOTAL-LIABILITIES> 83268
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1544734
<SHARES-COMMON-STOCK> 87406
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 2891
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (11165)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (440)
<NET-ASSETS> 85879
<DIVIDEND-INCOME> 7624
<INTEREST-INCOME> 2569
<OTHER-INCOME> 0
<EXPENSES-NET> 7302
<NET-INVESTMENT-INCOME> 2891
<REALIZED-GAINS-CURRENT> (11165)
<APPREC-INCREASE-CURRENT> (440)
<NET-CHANGE-FROM-OPS> (8714)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1689
<DISTRIBUTIONS-OF-GAINS> 1913
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 90654
<NUMBER-OF-SHARES-REDEEMED> 3623
<SHARES-REINVESTED> 375
<NET-CHANGE-IN-ASSETS> 1529663
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3228
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 19829
<AVERAGE-NET-ASSETS> 10402230
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> (0.30)
<PER-SHARE-DIVIDEND> 0.02
<PER-SHARE-DISTRIBUTIONS> (0.04)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.68
<EXPENSE-RATIO> 1.60
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 22
<NAME> Large/Mid Cap Value Fund - Class B
<S> <C>
<PERIOD-TYPE> Year
<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-START> Jul-1-1999
<PERIOD-END> Dec-31-1999
<INVESTMENTS-AT-COST> 1483221
<INVESTMENTS-AT-VALUE> 1482781
<RECEIVABLES> 116356
<ASSETS-OTHER> 13794
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1612931
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 83268
<TOTAL-LIABILITIES> 83268
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1544734
<SHARES-COMMON-STOCK> 56057
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 2891
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (11605)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (440)
<NET-ASSETS> 524605
<DIVIDEND-INCOME> 7624
<INTEREST-INCOME> 2569
<OTHER-INCOME> 0
<EXPENSES-NET> 7302
<NET-INVESTMENT-INCOME> 2891
<REALIZED-GAINS-CURRENT> (11165)
<APPREC-INCREASE-CURRENT> (440)
<NET-CHANGE-FROM-OPS> (8714)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1056
<DISTRIBUTIONS-OF-GAINS> 1196
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 56227
<NUMBER-OF-SHARES-REDEEMED> 404
<SHARES-REINVESTED> 234
<NET-CHANGE-IN-ASSETS> 1529663
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3228
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 19829
<AVERAGE-NET-ASSETS> 52589164
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> (0.62)
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> (0.04)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.36
<EXPENSE-RATIO> 2.35
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 23
<NAME> Large/Mid Cap Value Fund - Class C
<S> <C>
<PERIOD-TYPE> Year
<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-START> Jul-1-1999
<PERIOD-END> Dec-31-1999
<INVESTMENTS-AT-COST> 1483221
<INVESTMENTS-AT-VALUE> 1482781
<RECEIVABLES> 116356
<ASSETS-OTHER> 13794
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1612931
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 83268
<TOTAL-LIABILITIES> 83268
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1544734
<SHARES-COMMON-STOCK> 16331
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 2891
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (11165)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (440)
<NET-ASSETS> 159179
<DIVIDEND-INCOME> 7624
<INTEREST-INCOME> 2569
<OTHER-INCOME> 0
<EXPENSES-NET> 7302
<NET-INVESTMENT-INCOME> 2891
<REALIZED-GAINS-CURRENT> (11165)
<APPREC-INCREASE-CURRENT> (440)
<NET-CHANGE-FROM-OPS> (8714)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 315
<DISTRIBUTIONS-OF-GAINS> 357
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 16260
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 71
<NET-CHANGE-IN-ASSETS> 1529663
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3228
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 19829
<AVERAGE-NET-ASSETS> 663679
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> (0.21)
<PER-SHARE-DIVIDEND> 0.02
<PER-SHARE-DISTRIBUTIONS> (0.04)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.75
<EXPENSE-RATIO> 2.35
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 31
<NAME> Fixed Income Fund - Class A
<S> <C>
<PERIOD-TYPE> Year
<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-START> Jul-31-1999
<PERIOD-END> Dec-31-1999
<INVESTMENTS-AT-COST> 464258
<INVESTMENTS-AT-VALUE> 456336
<RECEIVABLES> 10687
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 15549
<TOTAL-ASSETS> 482572
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 57597
<TOTAL-LIABILITIES> 57597
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 433165
<SHARES-COMMON-STOCK> 12650
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 5561
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (375)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (375)
<NET-ASSETS> 124062
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7580
<OTHER-INCOME> 0
<EXPENSES-NET> 2019
<NET-INVESTMENT-INCOME> 5561
<REALIZED-GAINS-CURRENT> (375)
<APPREC-INCREASE-CURRENT> (7922)
<NET-CHANGE-FROM-OPS> (2736)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1608)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 20270
<NUMBER-OF-SHARES-REDEEMED> 7783
<SHARES-REINVESTED> 163
<NET-CHANGE-IN-ASSETS> 424975
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 689
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16375
<AVERAGE-NET-ASSETS> 118321
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.12
<PER-SHARE-GAIN-APPREC> (0.18)
<PER-SHARE-DIVIDEND> (0.13)
<PER-SHARE-DISTRIBUTIONS> (0.13)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.81
<EXPENSE-RATIO> 1.35
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 32
<NAME> Fixed Income Fund - Class B
<S> <C>
<PERIOD-TYPE> Year
<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-START> Jul-1-1999
<PERIOD-END> Dec-31-1999
<INVESTMENTS-AT-COST> 464258
<INVESTMENTS-AT-VALUE> 456336
<RECEIVABLES> 10687
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 15549
<TOTAL-ASSETS> 482572
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 57597
<TOTAL-LIABILITIES> 57597
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 433165
<SHARES-COMMON-STOCK> 24808
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 5561
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (375)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (375)
<NET-ASSETS> 124062
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7580
<OTHER-INCOME> 0
<EXPENSES-NET> 2019
<NET-INVESTMENT-INCOME> 5561
<REALIZED-GAINS-CURRENT> (375)
<APPREC-INCREASE-CURRENT> (7922)
<NET-CHANGE-FROM-OPS> (2736)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3093)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 24671
<NUMBER-OF-SHARES-REDEEMED> (179)
<SHARES-REINVESTED> 316
<NET-CHANGE-IN-ASSETS> 424975
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 689
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16375
<AVERAGE-NET-ASSETS> 83992
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.15
<PER-SHARE-GAIN-APPREC> (0.22)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.80
<EXPENSE-RATIO> 2.10
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 33
<NAME> Timothy Fixed Income Fund - Class C
<S> <C>
<PERIOD-TYPE> Year
<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-START> Jul-31-1999
<PERIOD-END> Dec-31-1999
<INVESTMENTS-AT-COST> 464258
<INVESTMENTS-AT-VALUE> 456336
<RECEIVABLES> 10687
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 15549
<TOTAL-ASSETS> 482572
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 57597
<TOTAL-LIABILITIES> 57597
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 433165
<SHARES-COMMON-STOCK> 12650
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 5561
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (375)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (375)
<NET-ASSETS> 57827
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7580
<OTHER-INCOME> 0
<EXPENSES-NET> 2019
<NET-INVESTMENT-INCOME> 5561
<REALIZED-GAINS-CURRENT> (375)
<APPREC-INCREASE-CURRENT> (7922)
<NET-CHANGE-FROM-OPS> (2736)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (753)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5850
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 77
<NET-CHANGE-IN-ASSETS> 424975
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 689
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16375
<AVERAGE-NET-ASSETS> 55656
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.09
<PER-SHARE-GAIN-APPREC> (0.20)
<PER-SHARE-DIVIDEND> (0.13)
<PER-SHARE-DISTRIBUTIONS> (0.13)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.76
<EXPENSE-RATIO> 2.10
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 4
<NAME> The Timothy Plan Money Market
<S> <C>
<PERIOD-TYPE> Year
<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-START> Jul-1-1999
<PERIOD-END> Dec-31-1999
<INVESTMENTS-AT-COST> 740943
<INVESTMENTS-AT-VALUE> 740943
<RECEIVABLES> 443
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 51093
<TOTAL-ASSETS> 792479
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 32295
<TOTAL-LIABILITIES> 32295
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 760184
<SHARES-COMMON-STOCK> 760184
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 6827
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 760184
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8219
<OTHER-INCOME> 0
<EXPENSES-NET> 1392
<NET-INVESTMENT-INCOME> 6827
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 6827
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6827)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1049384
<NUMBER-OF-SHARES-REDEEMED> 296027
<SHARES-REINVESTED> 6827
<NET-CHANGE-IN-ASSETS> 760184
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 973
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 9417
<AVERAGE-NET-ASSETS> 34564150
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.02
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.85
</TABLE>
