Richard A. Rice Fund
This donor advised fund (DAF) permits the donor to recommend non-profit, charitable organizations or programs to receive distributions of income from this permanent endowment. The recommendations must be reviewed and approved by the BAF Board of Directors to assure compliance with state and federal guidelines. This arrangement allows the donor to support various initiatives as community needs and opportunities change over time. The donor was able to take advantage of the NIP state tax credit offering when creating this endowed fund.