<?xml version="1.0" encoding="us-ascii"?>
<!--XBRL document created with Crossfire by Rivet Software version 5.3.152.0 http://www.rivetsoftware.com-->
<!--Based on XBRL 2.1-->
<!--Created on: 11/20/2012 1:40:16 PM-->
<!--Modified on: 11/20/2012 1:40:16 PM-->
<schema xmlns="http://www.w3.org/2001/XMLSchema" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" targetNamespace="http://clearwaterrei.com/20121108" xmlns:cik0000811161="http://clearwaterrei.com/20121108" xmlns:us-types="http://xbrl.us/us-types/2009-01-31" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:dei="http://xbrl.us/dei/2009-01-31" xmlns:rr="http://xbrl.sec.gov/rr/2010-02-28" elementFormDefault="qualified" attributeFormDefault="unqualified">
  <annotation>
    <appinfo>
      <link:roleType roleURI="http://clearwaterrei.com/role/DocumentRiskReturnSupplementUnlabeled" id="DocumentRiskReturnSupplementUnlabeled">
        <link:definition>000010 - Document - Risk/Return Supplement - (CLEARWATER INVESTMENT TRUST) {Unlabeled}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/DisclosureRiskReturnDetailDataElementsClearwaterGrowthFund" id="DisclosureRiskReturnDetailDataElementsClearwaterGrowthFund">
        <link:definition>000108 - Disclosure - Risk/Return Detail Data {Elements} - (CLEARWATER INVESTMENT TRUST)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/DocumentRiskReturnSummaryUnlabeledClearwaterTaxExemptBondFund" id="DocumentRiskReturnSummaryUnlabeledClearwaterTaxExemptBondFund">
        <link:definition>000301 - Document - Risk/Return Summary {Unlabeled} - (Clearwater Tax-Exempt Bond Fund)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/ScheduleShareholderFeesClearwaterTaxExemptBondFund" id="ScheduleShareholderFeesClearwaterTaxExemptBondFund">
        <link:definition>000302 - Schedule - Shareholder Fees - {Clearwater Tax-Exempt Bond Fund}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/ScheduleAnnualFundOperatingExpensesClearwaterTaxExemptBondFund" id="ScheduleAnnualFundOperatingExpensesClearwaterTaxExemptBondFund">
        <link:definition>000303 - Schedule - Annual Fund Operating Expenses - {Clearwater Tax-Exempt Bond Fund}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/ScheduleExpenseExampleTransposedClearwaterTaxExemptBondFund" id="ScheduleExpenseExampleTransposedClearwaterTaxExemptBondFund">
        <link:definition>000304 - Schedule - Expense Example {Transposed} - {Clearwater Tax-Exempt Bond Fund}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/ScheduleExpenseExampleNoRedemptionTransposedClearwaterTaxExemptBondFund" id="ScheduleExpenseExampleNoRedemptionTransposedClearwaterTaxExemptBondFund">
        <link:definition>000305 - Schedule - Expense Example, No Redemption {Transposed} - {Clearwater Tax-Exempt Bond Fund}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/ScheduleAnnualTotalReturnsClearwaterTaxExemptBondFundBarChart" id="ScheduleAnnualTotalReturnsClearwaterTaxExemptBondFundBarChart">
        <link:definition>000306 - Schedule - Annual Total Returns - {Clearwater Tax-Exempt Bond Fund}[Bar Chart]</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/ScheduleAverageAnnualTotalReturnsTransposedClearwaterTaxExemptBondFund" id="ScheduleAverageAnnualTotalReturnsTransposedClearwaterTaxExemptBondFund">
        <link:definition>000307 - Schedule - Average Annual Total Returns {Transposed} - {Clearwater Tax-Exempt Bond Fund}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/DisclosureRiskReturnDetailDataElementsClearwaterTaxExemptBondFund" id="DisclosureRiskReturnDetailDataElementsClearwaterTaxExemptBondFund">
        <link:definition>000308 - Disclosure - Risk/Return Detail Data {Elements} - (Clearwater Tax-Exempt Bond Fund)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/DocumentRiskReturnSummaryUnlabeledClearwaterInternationalFund" id="DocumentRiskReturnSummaryUnlabeledClearwaterInternationalFund">
        <link:definition>000401 - Document - Risk/Return Summary {Unlabeled} - (CLEARWATER INTERNATIONAL FUND)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/ScheduleShareholderFeesClearwaterInternationalFund" id="ScheduleShareholderFeesClearwaterInternationalFund">
        <link:definition>000402 - Schedule - Shareholder Fees - {CLEARWATER INTERNATIONAL FUND}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/ScheduleAnnualFundOperatingExpensesClearwaterInternationalFund" id="ScheduleAnnualFundOperatingExpensesClearwaterInternationalFund">
        <link:definition>000403 - Schedule - Annual Fund Operating Expenses - {CLEARWATER INTERNATIONAL FUND}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/ScheduleExpenseExampleTransposedClearwaterInternationalFund" id="ScheduleExpenseExampleTransposedClearwaterInternationalFund">
        <link:definition>000404 - Schedule - Expense Example {Transposed} - {CLEARWATER INTERNATIONAL FUND}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/ScheduleExpenseExampleNoRedemptionTransposedClearwaterInternationalFund" id="ScheduleExpenseExampleNoRedemptionTransposedClearwaterInternationalFund">
        <link:definition>000405 - Schedule - Expense Example, No Redemption {Transposed} - {CLEARWATER INTERNATIONAL FUND}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/ScheduleAnnualTotalReturnsClearwaterInternationalFundBarChart" id="ScheduleAnnualTotalReturnsClearwaterInternationalFundBarChart">
        <link:definition>000406 - Schedule - Annual Total Returns - {CLEARWATER INTERNATIONAL FUND}[Bar Chart]</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/ScheduleAverageAnnualTotalReturnsTransposedClearwaterInternationalFund" id="ScheduleAverageAnnualTotalReturnsTransposedClearwaterInternationalFund">
        <link:definition>000407 - Schedule - Average Annual Total Returns {Transposed} - {CLEARWATER INTERNATIONAL FUND}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/DisclosureRiskReturnDetailDataElementsClearwaterInternationalFund" id="DisclosureRiskReturnDetailDataElementsClearwaterInternationalFund">
        <link:definition>000408 - Disclosure - Risk/Return Detail Data {Elements} - (CLEARWATER INTERNATIONAL FUND)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://clearwaterrei.com/role/DocumentDocumentAndEntityInformationElementsImported" id="DocumentDocumentAndEntityInformationElementsImported">
        <link:definition>000001 - Document - Document and Entity Information {Elements}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:linkbaseRef xlink:type="simple" xlink:href="cik0000811161-20121108_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Definition Links, all" />
      <link:linkbaseRef xlink:type="simple" xlink:href="cik0000811161-20121108_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Label Links, all" />
      <link:linkbaseRef xlink:type="simple" xlink:href="cik0000811161-20121108_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Presentation Links, all" />
    </appinfo>
  </annotation>
  <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
  <import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
  <import namespace="http://xbrl.sec.gov/rr/2010-02-28" schemaLocation="http://xbrl.sec.gov/rr/2010/rr-2010-02-28.xsd" />
  <import namespace="http://xbrl.us/us-types/2009-01-31" schemaLocation="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-types-2009-01-31.xsd" />
  <import namespace="http://xbrl.us/dei/2009-01-31" schemaLocation="http://taxonomies.xbrl.us/us-gaap/2009/non-gaap/dei-2009-01-31.xsd" />
  <element id="cik0000811161_S000000699Member" name="S000000699Member" nillable="true" type="us-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <element id="cik0000811161_S000024756Member" name="S000024756Member" nillable="true" type="us-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
  <element id="cik0000811161_ClearwaterInvestmentTrustAbstract" name="ClearwaterInvestmentTrustAbstract" nillable="true" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" xbrli:periodType="duration" />
  <element id="cik0000811161_SupplementTextBlock" name="SupplementTextBlock" nillable="true" type="us-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" />
</schema>
