EXHIBIT 23I
OPINION AND CONSENT OF COUNSEL
DAVID JONES & ASSOC., P.C.
4747 Research Forest Drive
Suite 180, # 303
The Woodlands, TX 77381
281-367-9409 (Phone)
281-367-8401 (Facsimile)
Quaker Investment Trust October 30, 2000
1288 Valley Forge, Suite 76
Valley Forge, PA 19460
Dear Sirs:
As counsel to The Quaker Investment Trust (the "Trust"), an unincorporated
business trust organized under the laws of the State of Massachusetts, I have
been asked to render my opinion with respect to the issuance of an indefinite
number of shares of beneficial interest of the Trust (the "Shares") representing
proportionate interests in The Quaker Core Equity Fund, Quaker Aggressive Growth
Fund, Quaker Large-Cap Value Fund, Quaker Mid-Cap Value Fund, Quaker Small-Cap
Value Fund, Quaker Small-Cap Growth Fund, Quaker Fixed-Income Fund, Quaker High
Yield Fund and Quaker Government Money Market Fund (the "Funds"). The Shares of
the Funds are series of the Trust consisting of four classes of shares, the
Institutional Class, Class A, Class B, Class C and Institutional Shares, all as
more fully described in the Prospectus and Statement of Additional Information
contained in Post-effective Amendment # 17 to the Trust's Registration Statement
on Form N-1A, to which this opinion is an exhibit, to be filed with the
Securities and Exchange Commission.
I have examined the Company's Declaration of Trust, by-laws, the Prospectus and
Statement of Additional Information contained in the Registration Statement, and
such other documents, records and certificates as deemed necessary for the
purposes of this opinion.
Based on the foregoing, I am of the opinion that the Shares, when issued,
delivered and paid for in accordance with the terms of the Prospectus and
Statement of Additional Information, will be legally issued, fully paid, and
non-assessable by the Trust. I also give my consent for the Trust to included
this opinion as an Exhibit to the Trust's Registration Statement on Form N-1A.
Very Truly Yours,
/s/ David D. Jones
David D. Jones
Attorney & Counselor at Law
