IMPORTANT NOTICE TO NON-US CITIZENS

The Quaker Funds are offered only to citizens and residents of the United States. All information contained on this web site is intended for only United States citizens and residents. The Quaker Funds are not offered to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.

PRIVACY POLICY

Last modified November 17, 2006.

Your personal privacy is important. At the Quaker Funds, including its subsidiaries and affiliated entities, we recognize that whether you are an existing customer or are considering a relationship with us, you have an interest in how we collect, retain and use information about you and your relationship with us.

We are committed to protecting your confidential information. We do this by maintaining standards and procedures designed to prevent the accidental disclosure of such information and/or its misuse. Our Customer Privacy Policy, which outlines how we accomplish the protection of your information, is set forth below.

I. Information Collection

We may collect “non-public personal information” about you from the following sources:
• Information we receive from you on Account Applications and other account forms you provide to us;
• Information about your transactions with us, our affiliates, and other entities;
• Information we receive from third parties, such as credit bureaus, the IRS, and others.

“Non-public personal information” is non-public information about you that we obtain in connection with providing a financial product or service to you. For example, non-public personal information includes information regarding your account balance, shares held, which funds you own, your investment history, etc.

II. Information Use & Sharing With Third Parties

We are permitted under law to share information about our experiences or transactions with you or your account (such as your account balance, shares owned, and investment history) with affiliates. We may also share additional information about you or your account (such as information we receive from account applications and other correspondence) with our affiliates. We do not disclose information to our affiliates that does not directly relate to our, or our affiliates’, experiences or transactions with your account.

We are also permitted under law to disclose non-public information about you to “non-affiliated third parties” in certain circumstances. We may share certain kinds of customer information with these third parties solely to facilitate the offering, administration collection and delivery of our services to you, and only under strictly controlled circumstances designed to protect the privacy of your information. We require any non-affiliated third party with whom we share such information to execute our Confidentiality and Consumer Privacy Protection Agreement. Under that agreement, those parties are not allowed to release, use for their own purposes, or sell, transfer or provide any customer information we share with them to any other party.

You should be aware that there may be occasions where we are legally required to disclose information about you, such as in response to governmental or court order.

If you decide to close your account with us, we will continue to adhere to these privacy policies. Lastly, we do not sell customer lists or individual customer information.

III. Security Standards

At The Quaker Family of Funds and our affiliates, employee access to customer information is authorized for business purposes only and only for employees who need to now such information. We regularly train our employees on privacy and privacy security, and we have established and continuously maintain standards and procedures to protect the privacy of your information.

When you use our on-line (Internet) products and services, we may collect information about you to personalize our services to you, but we do not share any such information or your email information to anyone other than our affiliates, unless compelled to do so under law.

IV. Accuracy

We continually strive to maintain complete and accurate information about you and your accounts. Should you ever believe that our records are inaccurate or incomplete, please call us immediately at 800.220.8888. We will investigate your concerns and correct any inaccuracies. We will also confirm to you the actions we have taken concerning your account. You may also write to us at the Quaker Funds, Inc., c/o US Bancorp Fund Services, LLC, PO Box 701, Milwaukee, WI 53201-0701.

PROXY POLICY

Form N-Q Filing and Proxy Voting Policies and Procedures

Each Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission for the first and third quarters of each fiscal year on Form N-Q. Each Fund’s Forms N-Q, as well as a description of the policies and procedures that the Fund uses to determine how to vote proxies (if any) relating to portfolio securities is available without charge (i) upon request, by calling (800) 220-8888; (ii) on the Trust’s web-site at http://www.quakerfunds.com; and (iii) on the SEC’s web-site at http://www.sec.gov. Each Fund’s Forms N-Q may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC; information on the operation of the Public Reference Room may be obtained by calling 800.SEC.0330.

Information (if any) regarding how the Funds voted proxies relating to portfolio securities during the most recently disclosed 12-month period ended June 30 is available (i) without charge, upon request, by calling (800) 220-8888; and (ii) on the SEC’s web-site at http://www.sec.gov.

TERMS OF USE

Last modified January 30, 2004.

ALL CONTENT ON THIS SITE IS SUBJECT TO APPLICABLE STATUTES AND REGULATIONS, FURNISHED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT.

Third Party Content, Products and Services (Including Links)

We permit links from other websites and may permit links to this website simply as a convenience to visitors. The existence of a particular link does not indicate an endorsement by us of the linked site. Unless otherwise indicated, the linked sites are not under our control and we are not responsible for the content of any linked site or any link contained in a linked site, or any changes or updates to such sites. We make no representations about the accuracy or completeness of the information contained on any linked sites and assume no liability for the content or presentation of linked sites.

We are not responsible, and assume no liability, for content displayed on this website that may be provided by another party. We are not responsible for the accuracy or completeness of any such content.

You must obtain prior written permission to link to this website. Please make your request in writing by contacting us at:

By mail:
Quaker Funds, Inc.
Attn: Copyright Agent
1180 W. Swedesford Rd., Suite 150
Berwyn, PA 19312

By e-mail:
copyrightagent@quakerfunds.com

Please include the URL of your site and an explanation for the link to our site with your request.

Permissible Use of Materials

You may download or print a copy of the information or materials contained on this website provided that the copy retains all copyright and other proprietary notices contained on the materials. Any other copying, republication or redistribution, reproduction, uploading, posting, or transmittal of the text or graphics on this website, including, without limitation, linking or framing, is expressly prohibited without our prior written permission.

You may not include our corporate name or any of our trademarks or any variation of them, as a metatag, hidden textual element, or any other indicator that may create an impression of an affiliation, relationship, or endorsement between any other party and us or our subsidiaries or affiliates.

Site Operation

We operate this website from offices within the United States of America. We do not represent that the information on this website is appropriate or available for use in other locations. Access from certain locations may be strictly prohibited. Those who access this site do so on their own initiative and are responsible for  compliance with all applicable local laws. The laws of the Commonwealth of Pennsylvania will govern any claims relating to the information contained on this website.

If you take legal action relating to this website, you agree to file such action only in the Supreme Court of the Commonwealth of Pennsylvania, and you consent and submit to the personal jurisdiction of those courts for the purpose of litigating any such action. Your use of this website means that you accept the terms and conditions contained on this website.

No Offers

The information contained on this website does not constitute an offer or solicitation for the sale of any security in any jurisdiction where we are not licensed to conduct business or where the security is not available for sale. No security is offered or will be sold in any jurisdiction in which such offer or solicitation would be unlawful. Securities products are offered for sale by prospectus only.

Subject to Change

Our Privacy Notice and Legal Notices may be changed from time to time. We will notify you of any changes by posting a message on this website's homepage. We recommend that you review these notices periodically for changes.