Founded by Mr. and Mrs. Robert C. Rice in memory of Mr. Rice’s father for scholarships to McDaniel College or University of Maryland.

Millard Milburn Rice was born in 1894 in Jefferson, graduating valedictorian from Jefferson High in 1910. After graduation, Mr. Rice enlisted and served in World War I. Upon returning, he went to work in Kansas at the Kansas City School of Accounting, Law and Finance. He was a banker from 1940 to 1967. Two funds bear the Rice name. The Millard Milburn Rice Memorial Scholarship Fund was founded by his son Robert C. Rice, together with his wife, to support an annual scholarship to either McDaniel College or University of Maryland. It helps others receive a formal education as Mr. Rice desired. The Millard Milburn Rice and Mabel Long Rice Family Endowment Fund was created through a charitable trust as an unrestricted fund to support worthy charitable endeavors throughout the local community in the Rice name.