Domini Institutional Trust N-CSRS Certified semi-annual shareholder report (management investment company)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number 811-07599

DOMINI INSTITUTIONAL TRUST
(Exact Name of Registrant as Specified in Charter)

536 Broadway, 7^th Floor, New York, New York 10012
(Address of Principal Executive Offices)

Amy L. Domini
Domini Social Investments LLC
536 Broadway, 7^th Floor
New York, New York 10012
(Name and Address of Agent for Service)

Registrant's Telephone Number, including Area Code: 212-217-1100

Date of Fiscal Year End: July 31

Date of Reporting Period: January 31, 2005

Item 1.    Reports to Stockholders. 

A copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 follows. 

Domini Institutional Social Equity Fund^SM 

Semi-Annual Report
January 31, 2005 (Unaudited) 

The Way You Invest Matters^® 

Table of Contents 

	2			Letter from the President
	4			Performance Commentary
	8			Expense Example
	10			Social Profiles
				Domini Social Index Portfolio
	17			Portfolio of Investments
	24			Statement of Assets and Liabilities
	25			Statement of Operations
	26			Statements of Changes in Net Assets
	27			Financial Highlights
	28			Notes to Financial Statements
				Domini Institutional Social Equity Fund
	30			Statement of Assets and Liabilities
	31			Statement of Operations
	32			Statements of Changes in Net Assets
	33			Financial Highlights
	34			Notes to Financial Statements
	36			Proxy Voting Information
	36			Quarterly Portfolio Schedule Information
	Back Cover			For More Information

Letter from the President 

Dear Shareholders: 

This Semi-Annual Report comes at the end of a six-month period when we enjoyed an encouraging rise in stock prices. Bond markets have been stable, as purchasers accept the current low interest rate levels as necessary inflation fighters. It has been a positive yet quiet six months for investors. But while financial markets were stable, global events unfolded — events that gave us all an insight into what sorts of structures and events can bring out the best in people. 

As I write this letter, Asia and Africa are recovering from a devastating tsunami that swept through the Indian Ocean, killing more than 150,000 people. A tragedy of such proportions has had the effect of pulling together the world's citizens and of bringing out the best in relief workers, survivors, governments, and donors from around the globe. International reaction to the disaster was swift and generous. U.S. citizens gave a lot, and the U.S. government and private organizations cooperated with international governments and organizations to bring help to those who needed it. The capacity of people from many nations to move together in a somewhat well-coordinated effort to save lives and alleviate suffering gives one hope that such inspired behavior can spread into other areas of need. 

Over the course of my lifetime, the value we Americans place on international organizations has diminished remarkably. This international outpouring feels like a return to my childhood, when kids collected for UNICEF at Halloween, and every child felt important for having raised even just a few dollars for poor children in a faraway land. An "America first" attitude has robbed us of the more altruistic mood of those post-World War II days when Americans recognized the importance of international organizations. 

All too often in recent years, the willingness to pull together in a cooperative effort has been missing. Americans have taken the go-it-alone approach: the U.S. rejection of the Kyoto protocol, the war in Iraq undertaken in the face of international outrage, and threats of economic reprisals against France and other countries that disagree with us politically. Increasingly we hear influential voices on Wall Street and in Washington, D.C., dismiss the efforts of global entities to address humanity's needs. 

This attitude is bad for the world. Today we face achingly difficult challenges. AIDS kills more than two million people a year in sub-Saharan Africa alone, where in many countries one in five adults have HIV. About a million  people around the world die each year of measles, a disease viewed as archaic in the United States. Landmines kill or maim thousands of children each year. All this is set against the backdrop of wasted wealth in economically privileged countries. 

More U.S. cooperation could make a dramatic difference in promoting human health and a clean environment around the world — which would  

2

also increase goodwill toward the U.S. and make the world safer. We know that cooperation works. Commerce could not survive a day without global trading agreements and international legal systems. It is only global cooperation that has made possible the seamless telecommunications systems we take for granted today. 

Our go-it-alone attitude is also bad for the U.S. We are involved in the world, but too often in a narrowly self-serving way. In the name of competitiveness, large U.S. corporations evade taxes by incorporating in Bermuda, and seek out the cheapest labor in developing countries — thereby supporting overseas sweatshops, sending jobs overseas, and undercutting our nation's own small businesses with cheap imports. 

The increasing importance of the European Union has shown how international cooperation can be good not only for the economies of the countries that take part, but can also help foster consistent and higher standards for labor and environmental practices. As an example of how international cooperation can work and work well, the unfolding story of the European Union is well worth studying. The EU's efforts have focused not only on economic benefits, but on the rights of individuals and environmental protection — including new regulations that cover electronic products from design and manufacture to transport and disposal. 

By bringing together its legal structures and financial markets, Europe is very definitely able to compete with the United States, as the dramatic growth of the euro versus the dollar has demonstrated. Europe has demonstrated itself to be an economic peer to our own country. 

Global structures can be very positive, as we see in disaster relief, or they can devastate the economic landscape of a nation. For our own good and the good of the world, we in the United States should rededicate ourselves to standards of human rights, environmental sustainability, and economic fairness. We ought to support and embrace global humanitarian relief efforts and simultaneously build bridges based on true economic partnership with the rest of the world. 

Perhaps now, in the grim aftermath of this horrific disaster, we are beginning once again to recognize the strength of bonding together as concerned citizens and working to help one another. 

Very truly yours, 

Amy Domini
amy@domini.com 

3

Domini Institutional Social Equity Fund 

PERFORMANCE COMMENTARY 

Strong stock market returns in November and December helped turn the six months ended January 31, 2005, from a lackluster period into a fairly impressive one, with the Standard & Poor's 500 Index (S&P 500) gaining 8.2% and the Russell 2000 gaining 13.9%. The equity market began to recover in August, after a drop that followed disappointing second-quarter earnings releases, a weak July jobs report, and a sharp rise in crude oil prices. In the fourth quarter, with the U.S. presidential election decided and some relief from surging energy prices, there was a renewed interest in the equity markets. The S&P 500 gained 4.1% in November — its best month of the period — and ended 2004 with a gain of 10.9% for the year, hitting its highest point in three and a half years. 

U.S. equity markets slumped in the first month of 2005, with the S&P 500 losing 2.4%. Investors had apparently exhausted much of their buying power in December, leaving few remaining bidders to cushion share prices when oil prices began climbing again in early January. Major market averages fell in the first three weeks of January, but generally healthy profit reports helped stocks finish the month with a modest recovery. 

The performance of the Fund relative to the S&P 500 was hurt in part by its underweighting to the energy and utilities sectors, which were the top-performing sectors for the period. Excluded energy stocks ExxonMobil, ChevronTexaco, and ConocoPhillips gained 12.7%, 15.6%, and 18.5%, respectively. A huge dividend boost from TXU brought renewed investor attention and sizable returns to the utilities sector. TXU, an electric utility company that is excluded from the Fund's portfolio due to its ownership of nuclear power plants, gained 76.6% for the period. Exelon and Duke Energy, other top-performing utilities stocks excluded from the portfolio, gained 29.1% and 27.5%. 

The relative performance of the Fund was helped in part by its overweighting to the consumer discretionary sector and its underweighting to the pharmaceuticals industry. The consumer discretionary sector outperformed the S&P 500 for the period, gaining 11.9%. Home Depot, Walt Disney, and Target gained 22.9%, 25.1%, and 16.8%, respectively. Healthcare was the worst-performing sector for the period, gaining only 1.9% for the S&P 500. The exclusion of Pfizer, which fell 23.5%, was especially helpful to the Fund's relative performance. The Fund's overweighting to Johnson & Johnson, which gained 18.2% for the period, helped performance. 

4

Changes to the Domini 400 Social Index^SM 

The Domini Institutional Social Equity Fund invests in a portfolio designed to match the composition of the Domini 400 Social Index, the first socially and environmentally screened index in the world. The Index is maintained by our social research providers, KLD Research & Analytics, Inc. (KLD). 

To replace the ten companies removed from the Index during the six months ended January 31, the following ten companies were added to the Index: Schnitzer Steel Industries is a vertically integrated metals company that uses recycled materials in manufacturing metal products and recovers and processes scrap steel. Wainwright Bank & Trust is notable for its support of the rights of gays and lesbians. The telecommunications equipment company Polycom is notable for its efforts on behalf of education for the deaf. The financial services company BB&T is notable for its record of purchasing from businesses owned by women and minorities. Sovereign Bancorp's commitments to community include a microlending program that supports small entrepreneurs, and better performance than its peers in providing housing loans to minority and low- to moderate-income borrowers. 

Convergys is notable for its employee benefits, including a cash profit-sharing program. Monster Worldwide is notable for its awards of stock options, based on job performance. Retail firm Bed Bath & Beyond emphasizes customer service programs, such as requiring all managers to spend time regularly assisting customers. The healthcare company Affymetrix was added for reasons of industry diversification. General Growth Properties acquired Rouse, a company in the Fund's portfolio. 

Domini Institutional Social Equity Fund — Performance Commentary  5

The Domini Institutional Social Equity Fund invests in the Domini Social Index Portfolio. The table and the bar chart below provide information as of January 31, 2005, about the ten largest holdings of the Domini Social Index Portfolio and its portfolio holdings by industry sector: 

TEN LARGEST HOLDINGS 

	COMPANY			% OF NET ASSETS			COMPANY			% OF NET ASSETS
	Microsoft Corporation			4.90			J.P. Morgan Chase & Co.			2.28
	Johnson & Johnson			3.30			Cisco Systems, Inc.			2.09
	American International Group, Inc.			2.96			Dell Inc.			1.81
	Intel Corporation			2.47			Wells Fargo & Company			1.78
	Procter & Gamble Company			2.32			Coca-Cola Company			1.74

PORTFOLIO HOLDINGS BY INDUSTRY SECTOR (% OF NET ASSETS) 

The holdings mentioned above are described in the Domini Social Index Portfolio's (DSIP) Portfolio of Investments at January 31, 2005, included herein. The composition of the DSIP is subject to change. 

6  Domini Institutional Social Equity Fund — Performance Commentary

Average Annual Total Returns 

							Domini Institutional Social Equity Fund (DISEF)								S&P 500
	As of 12-31-04			1 Year					9.83	%						10.87	%
				5 Year					−3.46	%						−2.30	%
				10 Year(1)					12.21	%						12.07	%
				Since Inception(1)					10.93	%						10.91	%
	As of 1-31-05			1 Year					4.38	%						6.22	%
				5 Year					−2.97	%						−1.78	%
				10 Year(1)					11.52	%						11.50	%
				Since Inception(1)					10.61	%						10.64	%

Comparison of $10,000 Investment in the
Domini Institutional Social Equity Fund and S&P 500 

Past performance is no guarantee of future results. The Fund's returns quoted above represent past performance after all expenses. Economic and market conditions change, and both will cause investment return, principal value, and yield to fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For performance information current to the most recent month-end, call 1-800-582-6757 or visit www.domini.com. A 2.00% redemption fee is charged on sales or exchanges of shares made less than 90 days after the settlement of purchase or acquisition through exchange, with certain exceptions. See the Fund's prospectus for further information. 

The table and the graph do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Total return for the Fund is based on the Fund's net asset values and assumes all dividends and capital gains were reinvested. An investment in the Fund is not a bank deposit and is not insured. You may lose money. Certain fees payable by the Fund were waived during the period, and the Fund's average annual total returns would have been lower had these not been waived. 

The Standard & Poor's 500 Index (S&P 500) is an unmanaged index of common stocks. Investors cannot invest directly in the S&P 500. 

(1) 

The Domini Institutional Social Equity Fund, which commenced operations on May 30, 1996, invests all of its assets in the Domini Social Index Portfolio (DSIP), which has the same investment objectives as the Fund. The DSIP commenced operations on June 3, 1991. Performance prior to the Fund's commencement of operations is the performance of the DSIP adjusted for expenses of the Fund. 

This material must be preceded or accompanied by the Fund's current prospectus. DSIL Investment Services LLC, Distributor. 03/05 

Domini Institutional Social Equity Fund — Performance Commentary  7

Domini Institutional Social Equity Fund 

Expense Example 

As a shareholder of the Domini Institutional Social Equity Fund, you incur two types of costs: 

• 

Transaction costs such as redemption fees deducted from any redemption or exchange proceeds if you sell or exchange shares of the Fund after holding them less than 90 days 

• 

Ongoing costs, including management fees 

This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. 

The example is based on an investment of $1,000 invested on August 1, 2004, and held through January 31, 2005. 

Actual Expenses 

The line of the table captioned "Actual Expenses" below provides information about actual account value and actual expenses. You may use the information in this line, together with the amount invested, to estimate the expenses that you paid over the period as follows: 

• 

Divide your account value by $1,000. 

• 

Multiply your result in step 1 by the number in the first line under the heading "Expenses Paid During Period" in the table. 

• 

The result equals the estimated expenses you paid on your account during the period. 

8

Hypothetical Expenses 

The second line of the table below provides information about hypothetical account values and hypothetical expenses based on the Fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund's return. The hypothetical account values and expenses may not be used to estimate actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other mutual funds. To do so, compare this 5% hypothetical example with the 5% hypothetical example that appears in the shareholder reports of the other funds. 

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as redemption fees. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher. 

	Domini Institutional Social Equity Fund			Beginning Account Value as of 8/1/2004							Ending Account Value as of 1/31/2005							Expenses Paid During Period* 8/1/2004 – 1/31/2005
	Actual Expenses				$	1,000.00						$	1,065.00						$	2.08
	Hypothetical Expenses (5% return before expenses)				$	1,000.00						$	1,023.19						$	2.04

* 

Expenses are equal to the Fund's annualized expense ratio of 0.40% multiplied by average account value over the period, multiplied by 184, and divided by 365. The example reflects the aggregate expenses of the Fund and the Domini Social Index Portfolio, the underlying portfolio in which the Fund invests. 

Domini Institutional Social Equity Fund — Expense Example  9

Domini Institutional Social Equity Fund 

Social Profiles 

Healthy and Organic Foods 

In this report to Domini shareholders, we profile several companies in the Fund's portfolio that we believe are leaders in organic farming and sustainable agriculture, support for small farmers, and Fair Trade. 

Some of the larger companies in the Fund's portfolio are paying increased attention to these issues. When General Mills bought Small Planet Foods in 1999 — the renamed combination of Cascadian Farm and Muir Glen — it became an important player in the large-scale production of organic food. J.M. Smucker derives approximately a quarter of its beverage sales from organic brands such as After the Fall, R.W. Knudsen, and Santa Cruz Organic. After a dialogue co-led by Domini and the Center for Reflection, Education and Action (CREA), Procter & Gamble, one of the world's largest coffee roasters, now offers a line of Fair Trade Certified^® coffee. Its product reached supermarket shelves in September 2004. 

A number of smaller companies in the Fund's portfolio have made sustainability a key part of their culture, providing leadership and strong examples for others. We have chosen some examples from among these smaller companies to profile here. 

Wild Oats Markets 

	Ticker: OATS			Website: www.wildoats.com
	Market Capitalization: $206 Million

In 2002, Wild Oats formed a partnership with Green Mountain Coffee Roasters. Fair Trade Certified organic coffee from Green Mountain currently accounts for 100% of Wild Oats' bulk coffee offerings, 100% of the coffee served at its in-house coffee bars, and 85% of the packaged coffee the company offers. In addition to approximately 560,000 pounds of Green Mountain Fair Trade coffee per year, Wild Oats sells an estimated 28,000 pounds of Fair Trade coffee from other vendors. 

The company also sells Fair Trade Certified pineapples and mangoes (when they are in season and meet the company's quality standards) as well as tea and chocolate. In 2004, Wild Oats replaced all of its organic bananas with Fair Trade organic bananas, and currently sells about 2.8 million pounds per year. 

The Fair Trade certification system helps alleviate poverty and promote small business in developing countries by guaranteeing a minimum price to producers of food, crafts, and other products. The Fair Trade seal assures the consumer that the product can be traced from the farm to the  

10

supermarket shelf, and that strict social and environmental standards have been met. The primary certifying body for Fair Trade products internationally is Fairtrade Labelling Organizations International (FLO), and Fair Trade products in the U.S. are certified by TransFair USA. By 2002, Fair Trade had become an international phenomenon, with sales totaling $180 million in North America and $70.6 million in the Pacific Rim. 

In October 2004, Oxfam America released its Supermarket Report Card, rating six supermarket chains on their commitment to carrying Fair Trade Certified products. Wild Oats received a grade of A in each of four categories: availability of Fair Trade coffee, shelf placement, active promotion, and range of products offered. Oxfam concluded that Wild Oats "leads the supermarket industry in its commitment to fair trade." 

Green Mountain Coffee Roasters 

	Ticker: GMCR			Website: www.greenmountaincoffee.com
	Market Capitalization: $173 Million

Green Mountain Coffee Roasters has made a substantial commitment to the Fair Trade and organic concepts. From fiscal year 2002 to fiscal year 2004, Green Mountain's purchases of conventional Fair Trade coffee rose from approximately 469,000 to 713,000 pounds, and its purchases of organic Fair Trade coffee increased from approximately 1,090,000 to 3,264,000 pounds. Virtually all the Fair Trade coffee purchased by Green Mountain is shade grown, a method that preserves vanishing wildlife habitat and discourages erosion. For example, members of the Oromia Coffee Farmers Cooperative Union in Ethiopia — the country's largest Fair Trade coffee producer, and a Green Mountain supplier — grow coffee plants under shade trees, prune them by hand, and intercrop them with other food crops such as citrus and bananas. Intercropping provides farmers with food as well as additional cash crops that can supplement the sale of coffee. 

Green Mountain provided startup funding to help coffee farmers in Indonesia establish a cooperative called the Gayo Organic Coffee Farmers Association (PPKGO). In its first three years the cooperative grew from 100 members to 455, and as of June 2000 was producing 17% of all Fair Trade coffee imported into the U.S. 

Starbucks 

	Ticker: SBUX			Website:www.starbucks.com
	Market Capitalization: $21.46 Billion

Starbucks has taken significant steps to support the coffee growers it buys from, improve the social and environmental impact of its sourcing  

Domini Institutional Social Equity Fund — Social Profiles  11

practices, and maintain the quality of the product. But as a large company, Starbucks continues to face criticism that it has not yet gone as far as it might. 

In 2001, Starbucks adopted a set of coffee sourcing guidelines, developed with the help of Conservation International. The Coffee and Farmer Equity (C.A.F.E.) Practices, as they are now called, do not include a commitment to Fair Trade, but they do represent an innovative approach to the challenge of responsible coffee sourcing. Growers can qualify as preferred suppliers by meeting a set of specific social, environmental, economic, and product quality criteria. Starbucks buys from its suppliers who are rated highly under the C.A.F.E. Practices first, pays them higher prices, and offers them better contracts. In fiscal year 2004, Starbucks bought 43.5 million pounds of coffee from preferred suppliers through this program (14.5% of total coffee purchases). Starbucks' Fair Trade purchases have grown from 653,000 pounds in fiscal year 2001 to 4.8 million pounds in fiscal year 2004. Though only 1.6% of the coffee Starbucks buys is Fair Trade Certified, the company has committed itself to buy 10 million pounds of Fair Trade coffee in fiscal year 2005. 

In its corporate social responsibility report for fiscal year 2004, Starbucks said it does not buy coffee and tea from crops that have been genetically modified, and will not do so unless independent long-term testing proves that such crops are safe for people, animals, and the environment. 

Starbucks began a partnership with the nonprofit Conservation Inter-
national in 1998, and has undertaken projects through the nonprofit's Conservation Coffee program in Mexico, Colombia, and Peru. According to the company, Starbucks pays farmers in the El Triunfo Biosphere Reserve in Chiapas, Mexico, a premium of 44% over local coffee prices for shade-grown beans. By using environmentally responsible growing methods, the farmers help protect an estimated 300 species of birds (including the endangered quetzal), 45 types of reptiles, and 30 species of mammals. 

United Natural Foods 

	Ticker: UNFI			Website: www.unfi.com
	Market Capitalization: $1.24 Billion

United Natural Foods is a leader in the distribution of organic foods in the U.S. In 2002, the company reported that organic products represented 20% of its sales. As of 2005, the company served 21,000 customers, and stored and shipped 43,000 different products. United's customers include Whole Foods Market and Wild Oats Markets. 

In addition to supermarkets, United reportedly derives 43% of its total sales from smaller independent "mom and pop" stores. It sells to hundreds of local buying clubs around the country. The company is seeking to  

12  Domini Institutional Social Equity Fund — Social Profiles

expand its business with school, corporate, and hospital cafeterias: Harvard University, Vassar College, and New York University are already clients. 

In 2002, United earned certification from Quality Assurance International (QAI) for its distribution operations. QAI audits United's facilities annually for compliance with its standards, which include physical segregation of organic foods and an audit log that allows foods to be traced back to their source. United supports a moratorium on the use of genetically modified organisms (GMOs) in food, and it sponsored a national grassroots campaign to require the labeling of genetically engineered foods. 

Hain Celestial 

	Ticker: HAIN			Website: www.hain-celestial.com
	Market Capitalization: $734 Million

Hain Celestial, a maker and distributor of natural and specialty foods, is committed to producing healthy and organic products. The company's major organic brands include Arrowhead Mills, Health Valley, Walnut Acres, and Imagine. As of 2005, Hain offered more than 800 certified organic products. 

Hain is a leader in opposing the use of genetically modified organisms in food. In 1999, the company's organic Earth's Best baby food became the first baby food to be certified free of GMOs. In 2001 the company said its corporate policy requires the use of non-genetically engineered ingredients when formulating and manufacturing any of its all-natural and organic products, which made up approximately 80% of the company's total products. Regulators have questioned whether companies can make non-GMO claims with certainty, and Hain came under some criticism when GMO ingredients were reportedly found in Hain products labeled GMO-free. The company questioned the accuracy of the study, but the controversy highlights the difficulties faced by companies that seek to promote GMO-free products. 

Hain has a policy against the use of any dairy products that may come from cattle treated with growth hormones. Some scientists and other critics argue that the use of recombinant bovine growth hormone (rBGH or rBST) to artificially increase milk production may pose health risks to humans as well as cattle, although the Food and Drug Administration has approved the use of such hormones. 

Domini Institutional Social Equity Fund — Social Profiles  13

Whole Foods Market 

	Ticker: WFMI			Website: www.wholefoodsmarket.com
	Market Capitalization: $5.53 Billion

Whole Foods' commitment to the environment drives the way it chooses the products it sells, and has helped to raise the bar for the supermarket industry. In 2003, Whole Foods became the first national supermarket to have its retail operations designated as "Certified Organic" by Quality Assurance International. To receive certification, retailers must adhere to standards set forth by the USDA's National Organic Program, submit documentation, and open its facilities to on-site inspection. 

Whole Foods stores carry extensive lines of organic produce and minimally processed products, and feature "green" departments that carry environmentally safe and recycled household products. The company seeks out and supports artisan food producers, organic farmers, and small-batch producers, and supports farmers who are making the transition from traditional to organic production. 

Whole Foods was one of the first U.S. companies to sign on in support of the Marine Stewardship Council, a London-based nonprofit that promotes sustainable fisheries and responsible fishing practices. The wild Alaska salmon sold at Whole Foods carries the logo of the Council, which has certified the Alaska salmon fishery as sustainable. Certified salmon is harvested from 30- to 50-foot fishing boats using trolling poles, gill nets, or purse seines. The number of salmon fishing permits is strictly limited, creating a fishery made up of individuals and families rather than corporations. 

14  Domini Institutional Social Equity Fund — Social Profiles

The Fund invests in a portfolio designed to replicate the Domini 400 Social Index.^SM All companies in the Fund's portfolio are measured against multiple standards of corporate accountability. We seek to avoid companies that manufacture alcohol, tobacco, or firearms, derive revenues from gambling operations, own or operate nuclear power plants, or earn significant revenues from weapons contracting. Before investing in any company, our social research providers at KLD Research & Analytics, Inc. (KLD) evaluate its social profile by weighing both strengths and weaknesses in the areas of community impact, diversity, employee relations, the environment, human rights, and product safety and usefulness. KLD is responsible for maintaining the Domini 400 Social Index and developing and applying its social and environmental standards. Special thanks to KLD for allowing us to reproduce portions of its research in these pages. 

 

For extensive information about how we use social and environmental criteria to choose our investments, including brief social profiles of every company in the Fund's portfolio, visit www.domini.com. 

Unlike other mutual funds, the Domini Institutional Social Equity Fund seeks to achieve its investment objective by investing all of its investable assets in a separate portfolio with an identical investment objective called the Domini Social Index Portfolio (DSIP). The companies discussed above can be found in the DSIP's Portfolio of Investments at January 31, 2005, included herein. The composition of the DSIP is subject to change. 

The preceding profiles should not be deemed an offer to sell or a solicitation of an offer to buy the stock of any of the companies noted, or a recommendation concerning the merits of any of these companies as an investment. 

Domini 400 Social Index^SM is a service mark of KLD Research & Analytics, Inc. (KLD), which is used under license. KLD is the owner of the Domini 400 Social Index. KLD determines the composition of the Index but is not the manager of the Domini Social Index Portfolio, the Domini Social Equity Fund, or the Domini Institutional Social Equity Fund. Certain portions of these social profiles are copyright © 2005 by KLD and are reprinted here by permission. 03/05 

Domini Institutional Social Equity Fund — Social Profiles  15

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16

Domini Social Index Portfolio 

Portfolio of Investments 

January 31, 2005 (Unaudited) 

	Security				Shares							Value
	Consumer Discretionary    14.9%
	American Greetings Corporation, Class A					19,100						$	461,074
	AutoZone, Inc. (a)					23,331							2,082,292
	Bandag, Inc.					2,400							116,160
	Bassett Furniture Industries					3,000							56,550
	Black & Decker Corp.					22,400							1,845,760
	Bed Bath & Beyond Inc.  (a)					81,900							3,299,751
	Bob Evans Farms, Inc.					9,300							226,548
	Centex Corporation					35,200							2,158,112
	Champion Enterprises, Inc. (a)					23,300							251,407
	Charming Shoppes, Inc.  (a)					29,400							244,020
	Circuit City Stores, Inc.					60,900							872,088
	Claire's Stores, Inc.					27,000							557,010
	Comcast Corporation, Class A (a)					374,958							12,069,898
	Cooper Tire and Rubber Company					22,500							486,225
	Dana Corporation					39,500							626,865
	Darden Restaurants, Inc.					44,200							1,306,552
	Delphi Automotive Systems Corporation					152,500							1,157,475
	Disney (Walt) Company (The)					571,900							16,373,497
	Dollar General Corporation					94,451							1,908,855
	Dow Jones & Company					17,400							663,288
	eBay Inc. (a)					184,486							15,035,609
	Emmis Communications Corporation, Class A  (a)					15,200							267,064
	Family Dollar Stores Inc.					47,000							1,572,150
	Fleetwood Enterprises, Inc. (a)					17,400							152,772
	Foot Locker, Inc.					39,200							1,055,264
	Gaiam, Inc. (a)					2,200							12,166
	Gap Inc.					251,587							5,537,430
	Genuine Parts Company					49,600							2,099,568
	Harley-Davidson, Inc.					83,200							5,001,152
	Harman International Industries, Inc.					18,620							2,265,123
	Hartmarx Corporation  (a)					8,500							72,675
	Home Depot, Inc. (The)					620,006							25,581,448
	Horton (D.R.), Inc.					66,200							2,633,436
	Interface, Inc., Class A  (a)					11,400						$	107,502
	Johnson Controls, Inc.					52,700							3,117,732
	KB Home					13,300							1,445,045
	Lee Enterprises, Inc.					11,000							490,050
	Leggett & Platt, Incorporated					54,700							1,558,950
	Limited Brands					109,530							2,595,861
	Liz Claiborne, Inc.					30,000							1,258,200
	Lowe's Companies, Inc.					217,300							12,383,927
	Mattel, Inc.					114,385							2,224,788
	May Department Stores Company					80,800							2,739,120
	Maytag Corporation					22,600							355,046
	McDonald's Corporation					348,000							11,271,720
	McGraw-Hill Companies					54,000							4,887,000
	Media General, Inc., Class  A					6,800							434,996
	Men's Wearhouse, Inc.  (a)					10,600							352,662
	Meredith Corporation					11,700							561,951
	Modine Manufacturing Company					8,700							274,311
	New York Times Company, Class A					41,800							1,625,184
	Newell Rubbermaid, Inc.					77,178							1,660,871
	Nordstrom, Inc.					38,700							1,867,275
	Omnicom Group, Inc.					52,700							4,473,703
	Oshkosh B'Gosh, Inc., Class A					2,700							52,515
	Penney (J.C.) Company, Inc.					78,700							3,362,064
	Pep Boys -- Manny, Moe & Jack					14,000							241,080
	Phillips-Van Heusen Corporation					7,200							195,912
	Pixar (a)					15,700							1,368,569
	Pulte Homes, Inc.					35,000							2,312,800
	Radio One, Inc. (a)					5,800							90,480
	RadioShack Corporation					44,300							1,467,216
	Reebok International Ltd.					15,800							703,574
	Ruby Tuesday, Inc.					19,200							488,448
	Russell Corporation					8,300							149,400
	Scholastic Corporation  (a)					9,700							332,225

17

Domini Social Index Portfolio / Portfolio of Investments (Continued) 

January 31, 2005 (Unaudited) 

	Security				Shares							Value
	Consumer Discretionary (Continued)
	Scripps (E.W.) Company (The), Class A					35,200						$	1,631,872
	Sears, Roebuck and Co.					58,800							2,954,700
	Snap-On Incorporated					15,050							498,306
	Spartan Motors, Inc.					3,100							34,286
	Stanley Works					23,600							1,122,416
	Staples, Inc.					140,323							4,594,175
	Starbucks Corporation  (a)					111,200							6,004,800
	Stride Rite Corporation					10,800							132,192
	Target Corporation					252,500							12,819,425
	Timberland Company (The) (a)					8,800							578,512
	Time Warner, Inc. (a)					1,227,900							22,102,200
	TJX Companies, Inc.					142,300							3,563,192
	Toys 'R' Us, Inc. (a)					60,520							1,298,154
	Tribune Company					88,656							3,544,467
	Tupperware Corporation					15,000							301,650
	Univision Communications, Inc., Class A (a)					71,000							1,939,010
	Valassis Communications Inc.  (a)					13,600							461,720
	Value Line, Inc.					2,600							108,576
	Visteon Corporation					34,000							252,280
	Washington Post Company, Class B					2,200							2,011,900
	Wendy's International, Inc.					32,100							1,258,961
	Whirlpool Corporation					18,500							1,262,809
													242,975,064
	Consumer Staples    12.6%
	Alberto-Culver Company, Class B					26,050							1,413,213
	Albertson's, Inc.					102,700							2,349,776
	Avon Products, Inc.					133,200							5,623,704
	Campbell Soup Company					114,100							3,345,412
	Church & Dwight Co., Inc.					17,700							609,411
	Clorox Company					60,000							3,565,200
	Coca-Cola Company					682,000							28,296,180
	Colgate-Palmolive Company					148,200							7,786,428
	Costco Wholesale Corporation					128,730							6,085,067
	CVS Corporation					111,100							5,149,485
	Estée Lauder Companies, Inc. (The), Class A					34,400							1,552,816
	General Mills Incorporated					106,300						$	5,632,837
	Gillette Company					277,238							14,061,511
	Green Mountain Coffee, Inc. (a)					1,800							44,010
	Hain Celestial Group, Inc. (The) (a)					8,700							175,044
	Heinz (H.J.) Company					97,600							3,690,256
	Hershey Foods Corporation					55,800							3,263,742
	Kellogg Company					115,400							5,151,456
	Kimberly-Clark Corporation					134,664							8,821,839
	Kroger Company (a)					206,100							3,524,310
	Longs Drug Stores Corporation					9,900							259,974
	McCormick & Company, Inc.					33,800							1,256,346
	Nature's Sunshine Products, Inc.					4,200							84,210
	PepsiAmericas, Inc.					39,000							828,750
	PepsiCo, Inc.					472,570							25,377,009
	Procter & Gamble Company					708,800							37,729,424
	Safeway Inc. (a)					123,000							2,318,550
	Smucker (J.M.) Company					16,805							783,953
	SUPERVALU, Inc.					36,900							1,166,409
	Sysco Corporation					178,600							6,245,642
	Tootsie Roll Industries, Inc.					9,649							310,408
	United Natural Foods, Inc. (a)					10,000							316,100
	Walgreen Company					283,100							12,062,891
	Whole Foods Market, Inc.					17,200							1,538,024
	Wild Oats Markets, Inc.  (a)					6,550							47,488
	Wrigley (Wm.) Jr. Company					51,300							3,611,007
													204,077,882
	Energy    1.8%
	Anadarko Petroleum Corporation					69,885							4,627,086
	Apache Corporation					91,924							5,002,504
	Cooper Cameron Corp.  (a)					15,600							879,996
	Devon Energy Corporation					134,344							5,463,770
	EOG Resources, Inc.					32,800							2,435,400
	Helmerich & Payne, Inc.					13,000							492,700

18

Domini Social Index Portfolio / Portfolio of Investments (Continued) 

January 31, 2005 (Unaudited) 

	Security				Shares							Value
	Energy (Continued)
	Kinder Morgan, Inc.					34,400						$	2,581,376
	Noble Energy, Inc.					16,300							964,471
	Pioneer Natural Resources Company					40,100							1,539,439
	Rowan Companies, Inc.  (a)					29,200							822,272
	Sunoco, Inc.					21,100							1,846,039
	Williams Companies, Inc.					147,500							2,479,475
													29,134,528
	Financials    23.4%
	AFLAC, Inc.					141,300							5,582,763
	Allied Capital Corporation					36,100							924,521
	AMBAC Financial Group, Inc.					29,900							2,298,712
	American Express Company					353,800							18,875,230
	American International Group, Inc.					726,376							48,151,465
	AmSouth Bancorporation					97,800							2,439,132
	BB&T Corporation					152,900							6,034,963
	Capital One Financial Corporation					67,500							5,283,900
	Cathay General Bancorp					12,990							471,927
	Chittenden Corporation					13,220							358,394
	Chubb Corporation					53,600							3,992,128
	Cincinnati Financial Corporation					47,274							2,085,729
	Comerica Incorporated					48,500							2,806,210
	Edwards (A.G.), Inc.					22,887							976,359
	Fannie Mae					270,165							17,447,256
	Fifth Third Bancorp					162,411							7,547,239
	First Horizon National Corporation					34,400							1,464,408
	FirstFed Financial Corp.  (a)					4,500							239,400
	Franklin Resources, Inc.					69,500							4,716,270
	Freddie Mac					190,400							12,431,216
	GATX Corporation					12,600							375,228
	General Growth Properties, Inc.					61,900							1,966,563
	Golden West Financial					85,600							5,531,472
	Hartford Financial Services Group (The)					81,700							5,497,593
	Heartland Financial USA, Inc.					4,200							88,494
	Janus Capital Group Inc.					68,026							1,008,826
	Jefferson-Pilot Corporation					39,325						$	1,962,318
	KeyCorp					113,400							3,789,828
	Lincoln National Corporation					49,800							2,297,772
	Marsh & McLennan Companies, Inc.					144,700							4,702,750
	MBIA, Inc.					40,600							2,425,444
	MBNA Corporation					356,675							9,480,422
	Medallion Financial Corp.					4,300							39,861
	Mellon Financial Corporation					118,600							3,480,910
	Merrill Lynch & Co., Inc.					259,060							15,561,734
	MGIC Investment Corporation					27,600							1,763,640
	Moody's Corporation					41,300							3,460,114
	Morgan (J.P.) Chase & Co.					993,212							37,076,604
	National City Corporation					182,800							6,498,540
	Northern Trust Corporation					61,200							2,670,768
	PNC Financial Services Group					78,700							4,239,569
	Progressive Corporation (The)					56,000							4,684,400
	Providian Financial Corporation (a)					82,200							1,371,096
	SAFECO Corporation					39,500							1,828,850
	Schwab (Charles) Corporation					384,400							4,320,656
	SLM Corporation					121,400							6,093,066
	Sovereign Bancorp, Inc.					96,000							2,183,040
	St. Paul Travelers Companies, Inc. (The)					186,764							7,011,121
	State Street Corporation					94,300							4,225,583
	SunTrust Banks, Inc.					100,100							7,209,202
	Synovus Financial Corporation					87,450							2,372,519
	U.S. Bancorp					523,721							15,737,816
	UnumProvident Corporation					80,900							1,389,053
	Wachovia Corporation					447,943							24,569,674
	Wainwright Bank & Trust Company					2,500							30,725
	Washington Mutual, Inc.					243,904							9,841,525
	Wells Fargo & Company					470,706							28,854,277

19

Domini Social Index Portfolio / Portfolio of Investments (Continued) 

January 31, 2005 (Unaudited) 

	Security				Shares							Value
	Financials (Continued)
	Wesco Financial Corporation					1,900						$	722,000
													380,490,275
	Health Care    12.9%
	Affymetrix, Inc. (a)					16,700							687,372
	Allergan, Inc.					36,105							2,742,175
	Amgen, Inc. (a)					353,200							21,983,168
	Bard (C.R.), Inc.					28,400							1,925,520
	Bausch & Lomb Incorporated					15,300							1,115,217
	Baxter International, Inc.					171,800							5,799,968
	Becton Dickinson and Company					70,100							3,971,165
	Biogen Idec Inc. (a)					93,250							6,057,520
	Biomet, Inc.					71,100							3,020,328
	Boston Scientific Corporation (a)					232,500							7,686,450
	CIGNA Corporation					39,300							3,153,825
	Cross Country Healthcare, Inc. (a)					8,600							142,416
	Forest Laboratories, Inc.  (a)					103,600							4,302,508
	Genzyme Corporation  (a)					63,500							3,696,335
	Guidant Corporation					88,538							6,418,120
	Hillenbrand Industries, Inc.					17,000							923,610
	Humana, Inc. (a)					42,900							1,470,183
	IMS Health, Inc.					66,813							1,562,088
	Invacare Corporation					7,700							358,358
	Invitrogen Corporation  (a)					14,500							996,295
	Johnson & Johnson					827,370							53,530,839
	King Pharmaceuticals Inc. (a)					66,200							695,762
	Manor Care, Inc.					24,700							853,385
	McKesson HBOC, Inc.					81,320							2,804,727
	MedImmune, Inc. (a)					69,800							1,651,119
	Medtronic, Inc.					337,100							17,694,379
	Merck & Co., Inc.					619,100							17,365,755
	Millipore Corporation  (a)					13,700							596,361
	Mylan Laboratories, Inc.					75,475							1,255,149
	St. Jude Medical, Inc.  (a)					98,400							3,865,152
	Stryker Corporation					112,800							5,542,992
	Synovis Life Technologies, Inc. (a)					2,600							26,494
	Thermo Electron Corporation (a)					47,100							1,410,174
	UnitedHealth Group Incorporated					185,230						$	16,466,947
	Waters Corporation (a)					33,400							1,639,272
	Watson Pharmaceuticals (a)					29,200							871,035
	Zimmer Holdings, Inc.  (a)					68,200							5,377,570
													209,659,733
	Industrials    6.2%
	3M Company					218,700							18,449,532
	Alaska Air Group, Inc.  (a)					6,900							205,551
	American Power Conversion					57,700							1,227,279
	AMR Corporation (a)					44,400							381,840
	Apogee Enterprises, Inc.					7,400							98,938
	Ault, Inc. (a)					1,200							3,252
	Avery Dennison Corporation					31,500							1,892,835
	Baldor Electric Company					8,800							246,664
	Banta Corporation					6,550							283,681
	Brady Corporation, Class A					11,000							312,290
	Bright Horizons Family Solutions, Inc. (a)					3,200							187,520
	CLARCOR, Inc.					6,450							351,332
	Cooper Industries, Inc., Class A					26,300							1,827,850
	Cross (A.T.) Company  (a)					3,800							19,798
	Cummins, Inc.					12,100							939,807
	Deere & Company					69,400							4,818,442
	Delta Air Lines, Inc. (a)					32,000							172,480
	Deluxe Corporation					13,100							501,337
	DeVry, Inc. (a)					18,100							321,094
	Donaldson Company, Inc.					25,400							791,972
	Donnelley (R.R.) & Sons Company					61,500							2,057,175
	Emerson Electric Company					118,000							7,934,320
	Fastenal Company					21,400							1,286,782
	FedEx Corporation					83,700							8,005,905
	Graco, Inc.					18,552							661,379
	Grainger (W.W.), Inc.					26,000							1,591,460
	Granite Construction Incorporated					10,625							264,563
	Harland (John H.) Company					7,600							276,640
	Herman Miller, Inc.					19,300							515,696
	HNI Corporation					17,100							689,985

20

Domini Social Index Portfolio / Portfolio of Investments (Continued) 

January 31, 2005 (Unaudited) 

	Security				Shares							Value
	Industrials (Continued)
	Hubbell Incorporated, Class B					15,160						$	750,723
	Ikon Office Solutions					38,800							417,100
	Illinois Tool Works, Inc.					83,400							7,254,132
	Ionics, Inc. (a)					6,200							271,932
	JetBlue Airways Corporation (a)					27,300							540,267
	Kadant Inc. (a)					3,700							71,410
	Kansas City Southern Industries, Inc. (a)					15,700							274,122
	Kelly Services, Inc.					8,475							246,623
	Lawson Products, Inc.					2,500							124,650
	Lincoln Electric Holdings, Inc.					11,000							353,650
	Masco Corporation					124,300							4,574,240
	Milacron, Inc. (a)					12,633							40,047
	Monster Worldwide, Inc. (a)					32,900							1,029,441
	Nordson Corporation					10,500							395,115
	Norfolk Southern Corporation					109,200							3,813,264
	Pitney Bowes, Inc.					64,900							2,903,626
	Robert Half International, Inc.					48,400							1,468,456
	Ryder System, Inc.					18,000							819,900
	Smith (A.O.) Corporation					5,200							140,972
	Southwest Airlines Co.					219,162							3,173,466
	SPX Corporation					20,830							872,777
	Standard Register Company					6,000							74,940
	Steelcase, Inc.					15,500							211,110
	Tennant Company					2,300							89,033
	Thomas & Betts Corporation (a)					15,100							441,071
	Thomas Industries, Inc.					4,000							155,960
	Toro Company					6,400							532,800
	Trex Company, Inc. (a)					3,700							181,484
	United Parcel Service, Inc., Class B					159,233							11,891,519
	Yellow Roadway Corporation (a)					14,180							802,871
													100,234,100
	Information Technology    20.7%
	3Com Corporation (a)					103,000							378,010
	Adaptec, Inc. (a)					27,400							164,400
	ADC Telecommunications, Inc. (a)					234,000							601,380
	Advanced Micro Devices, Inc. (a)					98,300							1,553,140
	Advent Software, Inc.  (a)					8,500						$	163,625
	Analog Devices, Inc.					105,500							3,786,395
	Andrew Corporation  (a)					43,800							572,028
	Apple Computer, Inc.  (a)					106,100							8,159,090
	Applied Materials, Inc.  (a)					472,400							7,511,160
	Arrow Electronics, Inc.  (a)					31,600							746,076
	Autodesk, Inc.					64,000							1,879,680
	Automatic Data Processing, Inc.					165,074							7,177,418
	BMC Software, Inc. (a)					60,800							1,023,264
	Borland Software Corporation (a)					21,100							181,038
	CDW Corporation					23,400							1,368,900
	Ceridian Corporation  (a)					39,700							702,690
	Cisco Systems, Inc. (a)					1,885,430							34,013,157
	Coherent, Inc. (a)					7,700							231,000
	Compuware Corporation (a)					109,800							757,620
	Convergys Corporation  (a)					42,000							600,180
	Dell Inc. (a)					703,700							29,386,512
	Dionex Corporation (a)					5,600							331,464
	Electronic Arts Inc. (a)					84,400							5,430,296
	Electronic Data Systems Corporation					142,100							3,043,782
	EMC Corporation (a)					675,800							8,852,980
	Entegris, Inc. (a)					19,000							168,910
	Gerber Scientific, Inc.  (a)					5,700							41,154
	Hewlett-Packard Company					851,110							16,673,245
	Hutchinson Technology Incorporated (a)					6,500							229,450
	Imation Corporation					9,100							313,859
	Intel Corporation					1,788,600							40,154,070
	Lexmark International Group, Inc. (a)					35,600							2,967,260
	LSI Logic Corporation  (a)					104,200							636,662
	Lucent Technologies, Inc. (a)					1,206,292							3,932,512
	Merix Corporation (a)					3,750							34,575
	Micron Technology, Inc.  (a)					169,400							1,763,454
	Microsoft Corporation					3,030,000							79,628,400
	Molex Incorporated					27,646							793,993

21

Domini Social Index Portfolio / Portfolio of Investments (Continued) 

January 31, 2005 (Unaudited) 

	Security				Shares							Value
	Information Technology (Continued)
	National Semiconductor Corporation					99,400						$	1,682,842
	Novell, Inc. (a)					108,100							623,737
	Novellus Systems, Inc.  (a)					38,300							1,001,545
	palmOne, Inc. (a)					13,904							359,766
	Paychex, Inc.					104,600							3,189,254
	Plantronics Inc.					13,400							498,614
	Polycom, Inc. (a)					29,400							508,032
	Qualcomm, Inc.					454,300							16,918,132
	Red Hat, Inc. (a)					53,700							582,645
	Sapient Corporation (a)					32,800							258,464
	Scientific-Atlanta, Inc.					42,900							1,300,299
	Solectron Corporation  (a)					262,000							1,302,140
	Sun Microsystems, Inc.  (a)					931,700							4,062,212
	Symantec Corporation  (a)					176,200							4,114,270
	Tektronix, Inc.					26,900							775,258
	Tellabs, Inc. (a)					132,700							944,824
	Texas Instruments, Inc.					478,400							11,103,664
	Xerox Corporation (a)					266,200							4,227,256
	Xilinx, Inc.					98,200							2,866,458
	Yahoo! Inc. (a)					379,060							13,346,703
													335,618,944
	Materials    1.7%
	Air Products & Chemicals, Inc.					63,100							3,717,221
	Airgas, Inc.					21,600							508,032
	Aleris International, Inc.  (a)					3,800							63,764
	Bemis Company, Inc.					30,400							881,600
	Cabot Corporation					17,900							626,500
	Calgon Carbon Corporation					10,100							92,920
	Caraustar Industries, Inc. (a)					7,200							97,200
	Crown Holdings, Inc.  (a)					48,900							659,661
	Ecolab, Inc.					71,900							2,419,435
	Engelhard Corporation					33,500							1,006,675
	Fuller (H.B.) Company					7,300							194,691
	Lubrizol Corporation					18,100							652,143
	MeadWestvaco Corp.					56,712							1,638,410
	Minerals Technologies, Inc.					5,300							331,144
	Nucor Corporation					44,900							2,521,584
	Praxair, Inc.					90,200							3,892,130
	Rock-Tenn Company, Class A					9,000							124,830
	Rohm & Haas Company					62,787							2,777,697
	Schnitzer Steel Industries, Inc., Class  A					5,800						$	199,810
	Sealed Air Corporation  (a)					23,000							1,179,900
	Sigma-Aldrich Corporation					19,900							1,250,715
	Sonoco Products Company					28,745							746,220
	Valspar Corporation					15,000							735,000
	Wausau-Mosinee Paper Corporation					15,700							232,674
	Wellman, Inc.					8,200							86,100
	Worthington Industries, Inc.					22,200							454,656
													27,090,712
	Telecommunication Services    4.8%
	AT&T Corporation					219,216							4,206,755
	BellSouth Corporation					506,200							13,282,688
	Citizens Communications Company					83,867							1,131,366
	SBC Communications, Inc.					923,928							21,952,529
	Sprint Corp. - - FON Group					393,600							9,379,488
	Telephone and Data Systems, Inc.					14,500							1,193,640
	Verizon Communications					772,122							27,479,822
													78,626,288
	Utilities    0.7%
	AGL Resources, Inc.					19,300							668,745
	Cascade Natural Gas Corporation					2,900							59,276
	Cleco Corporation					12,200							240,706
	Energen Corporation					9,700							568,808
	Equitable Resources, Inc.					17,900							1,021,016
	IDACORP, Inc.					9,700							293,813
	KeySpan Corporation					45,200							1,784,044
	MGE Energy, Inc.					4,400							158,004
	National Fuel Gas Company					21,800							614,760
	NICOR, Inc.					11,400							420,888
	NiSource, Inc.					73,647							1,686,516
	Northwest Natural Gas Company					6,500							220,675

22

Domini Social Index Portfolio / Portfolio of Investments (Continued) 

January 31, 2005 (Unaudited) 

	Security				Shares							Value
	Utilities (Continued)
	OGE Energy Corporation					22,900							598,835
	Peoples Energy Corporation					10,900						$	466,847
	Pepco Holdings, Inc.					47,500							1,037,875
	Questar Corporation					23,100							1,173,480
	Southern Union Company (a)					20,206							471,204
	WGL Holdings					12,600							382,536
													11,868,028

	Total Investments — 99.7%
	(Cost  $1,478,253,796) (b)						$	1,619,775,554
	Other Assets, less liabilities — 0.3%							4,809,083
	Net Assets — 100.0%						$	1,624,584,637

(a) 

Non-income producing security. 

(b) 

The aggregate cost for federal income tax purposes is $1,575,062,602, the aggregate gross unrealized appreciation is $300,611,847, and the aggregate gross unrealized depreciation is $255,898,895, resulting in net unrealized appreciation of $44,712,952. 

Copyright in the Domini 400 Social Index^SM is owned by KLD Research & Analytics, Inc., and the Index is reproduced here by permission. No portion of the Index may be reproduced or distributed by any means or in any medium without the express written consent of the copyright owner. 

SEE NOTES TO FINANCIAL STATEMENTS

23

Domini Social Index Portfolio 

Statement of Assets and Liabilities 

January 31, 2005 (unaudited) 

	ASSETS:
	Investments at value (Cost $1,478,253,796)				$	1,619,775,554
	Cash					3,226,984
	Dividends receivable					2,124,827
	Total assets					1,625,127,365
	LIABILITIES:
	Management fee payable (Note 2)					281,013
	Other accrued expenses					261,715
	Total liabilities					542,728
	NET ASSETS APPLICABLE TO INVESTORS' BENEFICIAL INTERESTS				$	1,624,584,637

SEE NOTES TO FINANCIAL STATEMENTS

24

Domini Social Index Portfolio 

Statement of Operations 

Six Months Ended January 31, 2005 (unaudited) 

	INVESTMENT INCOME:
	Dividends											$	21,539,516
	EXPENSES:
	Management fee (Note 2)				$	1,598,166
	Custody fees (Note 3)					116,811
	Professional fees					22,227
	Trustees fees					51,397
	Miscellaneous					104,533
	Total expenses					1,893,134
	Fees paid indirectly (Note 3)					(42,627	)
	Net expenses												1,850,507
	NET INVESTMENT INCOME												19,689,009
	Net realized loss on investments:
	Proceeds from sales				$	50,152,058
	Cost of securities sold					(52,657,409	)
	Net realized loss on investments												(2,505,351	)
	Net changes in unrealized appreciation of investments:
	Beginning of period				$	57,948,649
	End of period					141,521,758
	Net change in unrealized appreciation												83,573,109
	NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS											$	100,756,767

SEE NOTES TO FINANCIAL STATEMENTS

25

Domini Social Index Portfolio 

Statements of Changes in Net Assets 

				Six Months Ended January 31, 2005 (unaudited)								Year Ended July 31, 2004
	INCREASE IN NET ASSETS:
	From Operations:
	Net investment income					$19,689,009							$18,456,783
	Net realized loss on investments					(2,505,351)							(22,378,148)
	Net change in unrealized appreciation of investments					83,573,109							162,852,493
	Net Increase in Net Assets Resulting from Operations					100,756,767							158,931,128
	Transactions in Investors' Beneficial Interest:
	Additions					137,927,127							318,907,730
	Reductions					(141,012,928)							(269,267,844)
	Net Increase/(Decrease) in Net Assets from Transactions in Investors' Beneficial Interests					(3,085,801)							49,639,886
	Total Increase in Net Assets					97,670,966							208,571,014
	NET ASSETS:
	Beginning of period					1,526,913,671							1,318,342,657
	End of period					$1,624,584,637							$1,526,913,671

SEE NOTES TO FINANCIAL STATEMENTS

26

Domini Social Index Portfolio 

Financial Highlights 

				Six Months Ended January 31, 2005 (unaudited)							Year Ended July 31,
												2004							2003							2002							2001							2000
	Net assets (in millions)					$1,625							$1,527							$1,318							$1,239							$1,729							$1,974
	Total return					6.56%							12.01%							12.13%							(22.71)%							(17.28)%							8.94%
	Ratio of net investment income to average net assets (annualized)					2.46%							1.25%							1.32%							1.02%							0.78%							0.70%
	Ratio of expenses to average net assets (annualized)					0.23%	(2)						0.24%	(2)						0.23%	(1)(2)						0.22%	(2)						0.22%	(2)						0.24%	(1)(2)
	Portfolio turnover rate					3%							8%							8%							13%							19%							9%

(1) 

Reflects an expense reimbursement and fee waiver by the Manager of 0.01% and 0.002% for the years ended July 31, 2003 and 2000, respectively. Had the Manager not waived its fee and reimbursed expenses, the ratio of expenses to average net assets would have been 0.24% and 0.24% for the years ended July 31, 2003 and 2000, respectively. 

(2) 

Ratio of expenses to average net assets includes indirectly paid expenses. Excluding indirectly paid expenses, the expense ratios would have been 0.24%, 0.24%, 0.23%, 0.22%, 0.21%, and 0.21%, for the six months ended January 31, 2005, and for the years ended July 31, 2004, 2003, 2002, 2001, and 2000, respectively. 

SEE NOTES TO FINANCIAL STATEMENTS

27

DOMINI SOCIAL INDEX PORTFOLIO 

NOTES TO FINANCIAL STATEMENTS 

JANUARY 31, 2005 (UNAUDITED) 

1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES 

Domini Social Index Portfolio is registered under the Investment Company Act of 1940 as a diversified, open-end management investment company that was organized as a trust under the laws of the State of New York on June 7, 1989. The Portfolio intends to correlate its investment portfolio as closely as is practicable with the Domini 400 Social Index,^SM which is a common stock index developed and maintained by KLD Research & Analytics, Inc. The Declaration of Trust permits the Trustees to issue an unlimited number of beneficial interests in the Portfolio. The Portfolio commenced operations effective on August 10, 1990, and began investment operations on June 3, 1991. 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The following is a summary of the Portfolio's significant accounting policies. 

(A) Valuation of Investments. The Portfolio values securities listed or traded on national securities exchanges at the last sale price or, if there have been no sales that day, at the mean of the current bid and ask price which represents the current value of the security. Securities listed on the NASDAQ National Market System are valued using the NASDAQ Official Closing Price (NOCP). If an NOCP is not available for a security listed on the NASDAQ National Market System, the security will be valued at the last sale price or, if there have been no sales that day, at the mean of the current bid and ask price. Portfolio securities for which there are no such quotations or valuations are valued at fair value as determined in good faith by or at the direction of the Portfolio's Board of Trustees. 

(B) Dividend Income. Dividend income is recorded on the ex-dividend date. 

(C) Federal Taxes. The Portfolio will be treated as a partnership for U.S. federal income tax purposes and is therefore not subject to U.S. federal income tax. As such, each investor in the Portfolio will be taxed on its share of the Portfolio's ordinary income and capital gains. It is intended that the Portfolio will be managed in such a way that an investor will be able to satisfy the requirements of the Internal Revenue Code applicable to regulated investment companies. 

28

(D) Other. Investment transactions are accounted for on the trade date. Gains and losses are determined on the basis of identified cost. 

2. TRANSACTIONS WITH AFFILIATES 

(A) Manager. Domini Social Investments LLC (Domini) is registered as an investment adviser under the Investment Advisers Act of 1940. The services provided by Domini consist of investment supervisory services, overall operational support, and administrative services. The administrative services include the provision of general office facilities and supervising the overall administration of the Portfolio. For its services under the Management Agreement, Domini receives from the Portfolio a fee accrued daily and paid monthly at an annual rate equal to 0.20% of the Portfolio's average daily net assets. 

(B) Submanager. SSgA Funds Management, Inc. (SSgA) provides investment submanagement services to the Portfolio on a day-to-day basis pursuant to a Submanagement Agreement with Domini. SSgA does not determine the composition of the Domini 400 Social Index.^SM  The Index's composition is determined by KLD Research & Analytics, Inc. 

3. INVESTMENT TRANSACTIONS 

For the six months ended January 31, 2005, cost of purchases and proceeds from sales of investments, other than U.S. government securities and short-term obligations, aggregated $68,589,159 and $50,152,058, respectively. For the six months ended January 31, 2005, custody fees of the Portfolio were reduced by $42,627, which was compensation for uninvested cash left on deposit with the custodian. 

Domini Social Index Portfolio — Notes to Financial Statements  29

Domini Institutional Social Equity Fund 

Statement of Assets and Liabilities 

January 31, 2005 (Unaudited) 

	ASSETS:
	Investment in Domini Social Index Portfolio, at value (Note 1)				$	219,425,016
	Receivable capital shares					10,000
	Total assets					219,435,016
	LIABILITIES:
	Management fee payable					10,000
	Other accrued expenses					26,558
	Total liabilities					36,558
	NET ASSETS				$	219,398,458
	NET ASSETS CONSIST OF:
	Paid-in capital				$	312,006,513
	Undistributed net investment income					292,656
	Accumulated net realized loss from Portfolio					(45,289,262	)
	Net unrealized depreciation from Portfolio					(47,611,449	)
					$	219,398,458
	Shares outstanding					12,625,260
	NET ASSET VALUE, OFFERING PRICE AND REDEMPTION PRICE PER SHARE ($219,398,458 ÷ 12,625,260)				$	17.38

SEE NOTES TO FINANCIAL STATEMENTS

30

Domini Institutional Social Equity Fund 

Statement of Operations 

Six Months Ended January 31, 2005 (unaudited) 

	INCOME:
	Investment income from Portfolio				$	2,861,197
	Expenses from Portfolio					(244,455	)
	Net investment income from Portfolio					2,616,742
	EXPENSES:
	Sponsor fee (Note 2)					263,780
	Professional fees					6,464
	Miscellaneous					27,822
	Printing					5,490
	Trustees fees					17,229
	Accounting fees					6,123
	Transfer agent fees					875
	Total Expenses					327,783
	Fees Waived (Note 2)					(150,232	)
	Net Expenses					177,551
	NET INVESTMENT INCOME					2,439,191
	NET REALIZED AND UNREALIZED GAIN FROM PORTFOLIO:
	Net realized loss from Portfolio					(330,277	)
	Net change in unrealized appreciation from Portfolio					11,181,651
	Net realized and unrealized gain from Portfolio					10,851,374
	NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS				$	13,290,565

SEE NOTES TO FINANCIAL STATEMENTS

31

Domini Institutional Social Equity Fund 

Statements of Changes in Net Assets 

				Six Months Ended January 31, 2005 (Unaudited)							Year Ended July 31, 2004
	INCREASE/(DECREASE) IN NET ASSETS:
	FROM OPERATIONS:
	Net investment income				$	2,439,191						$	2,180,938
	Net realized loss from Portfolio					(330,277	)						(3,021,538	)
	Net change in unrealized appreciation from Portfolio					11,181,651							22,878,879
	Net Increase in Net Assets Resulting from  Operations					13,290,565							22,038,279
	Distributions and/or Dividends:
	Dividends to shareholders from net investment income					(2,605,948	)						(1,899,672	)
	Net Decrease in Net Assets from Dividends and/or Distributions					(2,605,948	)						(1,899,672	)
	Capital Share Transactions:
	Proceeds from sale of shares					16,511,702							41,269,412
	Net asset value of shares issued in reinvestment of dividends and distributions					2,019,371							1,469,111
	Payments for shares redeemed					(8,603,700	)						(53,867,535	)
	Net Increase/(Decrease) in Net Assets from Capital Share Transactions					9,927,373							(11,129,012	)
	Total Increase in Net Assets					20,611,990							9,009,595
	NET ASSETS:
	Beginning of period					198,786,468							189,776,873
	End of period (including undistributed net investment income of $292,656 and $459,413, respectively)				$	219,398,458						$	198,786,468
	OTHER INFORMATION
	Share Transactions:
	Sold					972,972							2,549,303
	Issued in reinvestment of dividends and/or distributions					115,856							91,218
	Redeemed					(497,883	)						(3,339,475	)
	Net Increase/(Decrease)					590,945							(698,954	)

SEE NOTES TO FINANCIAL STATEMENTS

32

Domini Institutional Social Equity Fund 

Financial Highlights 

				Six Months Ended January 31, 2005 (Unaudited)							Year Ended July 31,
												2004							2003							2002							2001							2000
	For a share outstanding for the period:
	Net asset value, beginning of period					$16.52							$14.90							$13.51							$18.53							$23.15							$21.50
	Income/(loss) from investment operations:
	Net investment income					0.20							0.18							0.19							0.17							0.14							0.12
	Net realized and unrealized gain/(loss) on investments					0.87							1.60							1.41							(4.28)							(4.14)							1.79
	Total income/(loss) from investment operations					1.07							1.78							1.60							(4.11)							(4.00)							1.91
	Less dividends and distributions:
	Dividends to shareholders from net investment income					(0.21)							(0.16)							(0.21)							(0.16)							(0.12)							(0.12)
	Distributions to shareholders from net realized gain					—							—							—							(0.75)							(0.50)							(0.14)
	Total dividends and distributions					(0.21)							(0.16)							(0.21)							(0.91)							(0.62)							(0.26)
	Net asset value, end of period					$17.38							$16.52							$14.90							$13.51							$18.53							$23.15
	Total return					6.50%							11.97%							12.05%							(23.05)%							(17.37)%							8.85%
	Portfolio turnover*					3%							8%							8%							13%							19%							9%
	Ratio/supplemental data (annualized):
	Net assets, end of year (in millions)					$219							$199							$190							$243							$416							$463
	Ratio of expenses to average net assets					0.40%(1)							0.37%(1)							0.30%(1)							0.30%(1)							0.30%(1)							0.30%(1)
	Ratio of net investment income to average net assets					2.31%							1.13%							1.24%							0.93%							0.69%							0.60%

* 

For the Portfolio in which the Fund invests. 

(1) 

Reflects a waiver of fees by the Manager of the Portfolio and the Sponsor of the Fund. Had the Manager and the Sponsor not waived their fees, the ratio of expenses to average net assets would have been 0.54%, 0.54%, 0.53%, 0.50%, 0.50%, and 0.51%, for the six months ended January 31, 2005, and for the years ended July 31, 2004, 2003, 2002, 2001, and 2000, respectively. 

SEE NOTES TO FINANCIAL STATEMENTS

33

Domini Institutional Social Equity Fund 

Notes to Financial Statements 

January 31, 2005 (Unaudited) 

1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES 

Domini Institutional Social Equity Fund is a series of the Domini Institutional Trust. The Trust is a Massachusetts business trust registered under the Investment Company Act of 1940 as an open-end management investment company. The Fund invests substantially all of its assets in the Domini Social Index Portfolio, a diversified, open-end management investment company having the same investment objectives as the Fund. The value of such investment reflects the Fund's proportionate interest in the net assets of the Portfolio (approximately 13.5% at January 31, 2005). The financial statements of the Portfolio are included elsewhere in this report and should be read in conjunction with the Fund's financial statements. The Fund commenced operations on May 30, 1996. 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The following is a summary of the Fund's significant accounting policies. 

(A) Valuation of Investments: Valuation of securities by the Portfolio is discussed in Note 1 of the Portfolio's Notes to Financial Statements, which are included elsewhere in this report. 

(B) Investment Income and Dividends to Shareholders: The Fund earns income daily, net of Portfolio expenses, on its investments in the Portfolio. Dividends to shareholders are usually declared and paid quarterly from net investment income. Distributions to shareholders of realized capital gains, if any, are made annually. Distributions are determined in conformity with income tax regulations, which may differ from generally accepted accounting principles. Reclassifications have been made to the Fund's components of net assets to reflect income and gains available for distribution (or available capital loss carryovers, as applicable) under income tax regulations. 

(C) Federal Taxes: The Fund's policy is to comply with the provisions of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all of its taxable income, including net realized gains, if any, within the prescribed time periods. Accordingly, no provision for federal income or excise tax is deemed necessary. 

34

(D) Other: All net investment income and realized and unrealized gains and losses of the Portfolio are allocated daily pro rata among the Fund and the other investors in the Portfolio. 

2. TRANSACTIONS WITH AFFILIATES 

(A) Manager. The Portfolio has retained Domini Social Investments LLC (Domini) to serve as investment manager and administrator. The services provided by Domini consist of investment supervisory services, overall operational support, and administrative services, including the provision of general office facilities and supervising the overall administration of the Portfolio. For its services under the Management Agreement, Domini receives from the Portfolio a fee accrued daily and paid monthly at an annual rate equal to 0.20% of the Portfolio's average daily net assets. 

(B) Submanager. SSgA Funds Management, Inc. (SSgA) provides investment submanagement services to the Portfolio on a day-to-day basis pursuant to a Submanagement Agreement with Domini. SSgA does not determine the composition of the Domini 400 Social Index.^SM The Index's composition is determined by KLD Research & Analytics, Inc. 

(C) Sponsor. Pursuant to a Sponsorship Agreement, Domini provides the Fund with the administrative personnel and services necessary to operate the Fund. In addition to general administrative services and facilities for the Fund similar to those provided by Domini to the Portfolio under the Management Agreement, Domini answers questions from the general public and the media regarding the composition of the Index and the securities holdings of the Portfolio. For these services and facilities, Domini receives fees computed and paid monthly from the Fund at an annual rate equal to 0.25% of the average daily net assets of the Fund. Domini is contractually waiving its fee to the extent necessary to keep the aggregate annual operating expenses of the Fund (including the Fund's share of the Portfolio's expenses but excluding brokerage fees and commissions, interest, taxes, and other extraordinary expenses), net of waivers and reimbursements, at no greater than 0.40% of the average daily net assets of the Fund until November 30, 2005, absent an earlier modification by the Board of Trustees, which oversees the Fund. A similar fee waiver arrangement was in effect in prior periods. For the six months ended January 31, 2005, Domini waived fees totaling $150,232. 

3. INVESTMENT TRANSACTIONS 

For the six months ended January 31, 2005, additions and reductions in the Fund's investment in the Portfolio aggregated $16,501,702 and $9,404,014, respectively. 

Domini Institutional Social Equity Fund — Notes to Financial Statements  35

Proxy Voting Information 

The Domini Funds' Proxy Voting Policies and Procedures are available, free of charge, by calling 1-800-762-6814, by visiting www.domini.com/shareholder-advocacy/Proxy-Voting/index.htm, or by visiting the EDGAR database on the Securities and Exchange Commission's (SEC) website at www.sec.gov. All proxy votes cast for the Domini Funds are posted to Domini's website on an ongoing basis over the course of the year. An annual record of all proxy votes cast for the Funds during the most recent 12-month period ended June 30 can be obtained, free of charge, at www.domini.com, and on the EDGAR database on the SEC's website at www.sec.gov. 

Quarterly Portfolio Schedule Information 

The Domini Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Domini Funds' Forms N-Q are available on the EDGAR database on the SEC's website at www.sec.gov. These Forms may also be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. Information about the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The information on Form N-Q is also available to be viewed at www.domini.com. 

36

DOMINI FUNDS 

P.O. Box 9785
Providence, RI 02940-9785
1-800-582-6757
www.domini.com 

Investment Manager and Sponsor: 

Domini Social Investments LLC
536 Broadway, 7th Floor
New York, NY 10012 

Investment Submanager: 

SSgA Funds Management, Inc.
State Street Financial Center
One Lincoln Street
Boston, MA 02111 

Distributor: 

DSIL Investment Services LLC
536 Broadway, 7th Floor
New York, NY 10012
1-800-762-6814 

Transfer Agent: 

PFPC Inc.
760 Moore Road
King of Prussia, PA 19406 

Custodian: 

Investors Bank & Trust Company
200 Clarendon Street
Boston, MA 02116 

Independent Registered Public Accounting Firm: 

KPMG LLP
99 High Street
Boston, MA 02110 

Legal Counsel: 

Bingham McCutchen LLP
150 Federal Street
Boston, MA 02110 

CUSIP# 257131102 

				Printed on recycled paper

Item 2.	Code of Ethics.

(a)	Not applicable to a semi-annual report.

(c)	Not applicable.

(d)	Not applicable.

Item 3.	Audit Committee Financial Expert.

Not applicable to a semi-annual report.

Item 4.	Principal Accountant Fees and Services.

Not applicable to a semi-annual report.

Item 5.	Audit Committee of Listed Registrants.

Not applicable to the registrant.

Item 6.	Schedule of Investments.

The Schedule of Investments is included as part of the report to stockholders filed under Item 1.

Item 7.	Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable to the registrant.

Item 8.	Portfolio Managers of Closed-End Management Investment Companies.

Not applicable to the registrant.

Item 9.	Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable to the registrant.

Item 10.	Submission of Matters to a Vote of Security Holders.

There have been no material changes to the procedures by which shareholders may submit recommendations for nominees to the registrant's Board of Trustees.

Item 11.	Controls and Procedures.

(a)

Within 90 days prior to the filing of this report on Form N-CSR, Amy L. Domini, the registrant's President and Principal Executive Officer, and Carole M. Laible, the registrant's Treasurer and Principal Financial Officer, reviewed the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) of the Investment Company Act of 1940) and evaluated their effectiveness. Based on their evaluation, Ms. Domini and Ms. Laible determined that the disclosure controls and procedures adequately ensure that information required to be disclosed by the registrant in this report on Form N-CSR is recorded, processed, summarized, and reported within the time periods required by the Securities and Exchange Commission's rules and forms.

(b)	There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 12.	Exhibits.

(a)(1)	Not applicable to a semi-annual report.

(a)(2)	Separate certifications required by Rule 30a-2(a) under the Investment Company Act of 1940 for each principal executive officer and principal financial officer of the registrant are filed herewith.

(a)(3)	Not applicable to the registrant.

(b)	A single certification required by Rule 30a-2(b) under the Investment Company Act of 1940, Rule 13a-14b or Rule 15d-14(b) under the Securities Exchange Act of 1934, and Section 1350 of Chapter 63 of Title 18 of the United States Code for the chief executive officer and the chief financial officer of the registrant is filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

DOMINI INSTITUTIONAL TRUST

By:				/s/ Amy L. Domini
				Amy L. Domini
				President
Date:				April 1, 2005

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:				/s/ Amy L. Domini
				Amy L. Domini
				President (Principal Executive Officer)
Date:				April 1, 2005
By:				/s/ Carole M. Laible
				Carole M. Laible
				Treasurer (Principal Financial Officer)
Date:				April 1, 2005