A description of unionization among college faculty from January 1 through December 31, 1987 focuses on agents elected, the American Federation of Teachers, the National Education Association, the American Association of University Professors, no-agent elections, decertifications, strikes, legislation, demographic analysis, and first contracts signed. Of note in 1987 is the lack of organizing of any new full-time faculty bargaining units for the first time in 16 years. Also, only one election was held where the target group for organizing the drive was full-time, tenure-track faculty. Updated institutional listings are given in this directory, which resolves questions about contract status, agent affiliation, and contract expiration for campuses where follow-up answers had not been received for several years. Statistical information is provided on faculty contracts and bargaining agents in public and private U.S. institutions; adjunct faculty contracts and bargaining agents in the United States; faculty collective bargaining at Canadian universities; summary of U.S. elections in 1987; a statistical analysis consisting of 17 tables; and no-agent votes from 1971-1987. An index of U.S. and Canadian institutions cited is featured. (SM)