<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Krupp
Institutional Mortgage Fund L.P. Financial Statements for the quarter ended
March 31, 1996 and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                         649,385
<SECURITIES>                                         0
<RECEIVABLES>                               28,312,906
<ALLOWANCES>                                16,524,000
<INVENTORY>                                          0
<CURRENT-ASSETS>                            13,042,517
<PP&E>                                         114,386<F1>
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              13,156,903
<CURRENT-LIABILITIES>                            6,298
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                    13,150,605<F2>
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                13,156,903
<SALES>                                              0
<TOTAL-REVENUES>                               173,494
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                30,904
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   141,164
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0
<FN>
<F1>Other Assets.
<F2>Includes Limited Partner equity of $13,318,703 and General Partner deficit of
($168,098).
</FN>