<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Krupp
Institutional Mortgage Fund L.P. Financial Statements for the nine months
ended September 30, 1996 and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                       1,236,306
<SECURITIES>                                         0
<RECEIVABLES>                               23,505,336
<ALLOWANCES>                                16,524,000
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                           2,506<F1>
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               8,270,877
<CURRENT-LIABILITIES>                           18,900
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                     8,251,977<F2>
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                 8,270,877
<SALES>                                              0
<TOTAL-REVENUES>                               421,934
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                81,438
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   340,496
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0
<FN>
<F1>Other assets.
<F2>Includes Limited Partner equity of $8,421,132 and general Partner deficit of
($169,155).
</FN>