<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000202662
<NAME> THE MUNICIPAL FUND ACCUMULATION PROGRAM, INC.
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                        508292785
<INVESTMENTS-AT-VALUE>                       546617262
<RECEIVABLES>                                  9895714
<ASSETS-OTHER>                                  390999
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               556903975
<PAYABLE-FOR-SECURITIES>                       3775979
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      1278596
<TOTAL-LIABILITIES>                            5054575
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     517827810
<SHARES-COMMON-STOCK>                         29271710
<SHARES-COMMON-PRIOR>                         30266155
<ACCUMULATED-NII-CURRENT>                      1242380
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (5545267)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      38324477
<NET-ASSETS>                                 551849400
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                             33814509
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (4665233)
<NET-INVESTMENT-INCOME>                       29149276
<REALIZED-GAINS-CURRENT>                      (696677)
<APPREC-INCREASE-CURRENT>                   (10598099)
<NET-CHANGE-FROM-OPS>                         17854500
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                   (29051296)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        5183981
<NUMBER-OF-SHARES-REDEEMED>                  (7650329)
<SHARES-REINVESTED>                            1471903
<NET-CHANGE-IN-ASSETS>                      (29829178)
<ACCUMULATED-NII-PRIOR>                        1144400
<ACCUMULATED-GAINS-PRIOR>                    (4848591)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          2806869
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                4665233
<AVERAGE-NET-ASSETS>                         556809872
<PER-SHARE-NAV-BEGIN>                            19.22
<PER-SHARE-NII>                                    .98
<PER-SHARE-GAIN-APPREC>                          (.37)
<PER-SHARE-DIVIDEND>                             (.98)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              18.85
<EXPENSE-RATIO>                                    .83
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>