Sue Lamb’s Charitable Gift Annuity Story

Advancing the quality of health care in Hancock and western Washington Counties through philanthropic and community support for Maine Coast Memorial Hospital.

Sue Lamb, who was a champion of Maine Coast Memorial Hospital and a supporter of Maine Coast Memorial Hospital Foundation, was one of the first individuals to establish such a planned gift with the foundation. In return for her gift to the foundation, Sue received a fixed income that is unaffected by the vagaries and fluctuations of the investment world.
Friend of Maine Coast Memorial Hospital, Sue Lamb, was one of the first individuals to establish a planned gift annuity with the foundation.

The most common type of life income gift is a Charitable Gift Annuity (CGA). Gift annuities have benefited donors and non-profit organizations for over seventy years, and the foundation is pleased to extend this life-income program to all who are deeply committed to ensuring the future of excellence in healthcare.

For many a CGA can be a win/win proposition. Often with a CGA, the annuity is partially tax-free and the gift can be partially exempt from capital gain taxes. Additionally, the donor can take a large charitable deduction at the time of the gift.

The Charitable Gift Annuity enabled Sue to contribute to an institution she holds in the highest regard and receive a secure, high rate of return in the form of quarterly payments for the remainder of her life.

“I feel very strongly about the hospital,” said Sue. “We’re lucky to have it.”

Sue’s involvement with MCMH is multilayered. She received valued care at the Hospital and at the associated Somesville Rehabilitation and Southwest Harbor Medical Centers and served on the committee at Southwest Harbor Medical Center from 1991 until her passing in 2015.

The benefits of a Gift Annuity can be extremely attractive to seniors who are seeking a steady cash flow.

“It’s a good deal for me,” Sue explained in 2008. In addition to a substantial tax deduction, Sue received a lifetime annuity of 9.20 percent on her philanthropic gift.

Maine Coast Healthcare Foundation
50 Union Street
Ellsworth, ME 04605
phone 207-664-5548

 Maine Coast Memorial Hospital Foundation is a 501(c)(3) nonprofit organization.
All contributions are tax-deductible to the full extent provided by law.