SUBSCRIPTION AGREEMENT BETWEEN THE TRUST AND THE INVESTORS DAVLIN PHILANTHROPIC FUNDS LETTER OF INVESTMENT INTENT

SUBSCRIPTION AGREEMENT BETWEEN THE TRUST AND THE INVESTORS

XXXXXX PHILANTHROPIC FUNDS

LETTER OF INVESTMENT INTENT

May 1, 2008

To the Board of Trustees of Xxxxxx Philanthropic Funds:

The undersigned (the “Purchaser”) hereby subscribes to purchase a beneficial interest (the “Interest”) of the Xxxxxx Philanthropic Fund, in the amount of $100,000 for 10,000 shares at net asset value of $10.00 per share, in consideration for which the Purchaser agrees to transfer to you upon demand cash in the amount of $100,000.

The Purchaser agrees that the Interest is being purchased for investment purposes only and with no present intention of reselling or redeeming said Interest.

Xxxxxx Fund Advisors, LLC

By: /s/ _________________

     Xxxxxxx X.X. Xxxxxx

      President