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A Gift to last a Lifetime
“Our CPA told us we were crazy when we first told him we planned to give nearly half of our beloved beach home to GBMC,” explained Dawn Dimmerman, mother of Radiation Oncology’s own Dr. Robert Brookland. Mrs. Dimmerman went on to say that the more they talked, the more she was convinced that the Gift Annuity was exactly what they wanted, “The effective payout rate, when you consider a portion of the payments are tax-free, was around 8%. You just cannot beat that in the stock or bond markets these days. And, best of all, the annuity payments will never change – for the rest of our lives!” Mrs. Dimmerman’s son, Dr. Brookland, also sits on the GBMC Foundation Board. It was his suggestion that lead the Dimmermans to pursue the gift with GBMC. “Often times you talk with prospective donors and it all seems too good to be true,” said GBMC Foundation’s Director of Gift Planning, John Jeppi. “However, when they find out that our program has been around for close to 20 years, and we follow the annuity rates as prescribed by the American Council on Gift Annuities, they begin to see that this arrangement significantly benefits GBMC as well as the donors.” The Dimmermans had the added advantage of knowing GBMC through Dr. Brookland. They understood that their annuity would be backed by the full faith and credit of GBMC Healthcare, an organization they trusted. Living in Philadelphia, they heard and read about the outstanding initiatives on which the hospital is working from Dr. Brookland. They saw their gift as a way to support the 40th Anniversary Campaign and help GBMC maintain its standing as the preferred hospital among Central Maryland residents. On May 16th, the same day a Northeaster blew into Long Beach Island, the Dimmermans and GBMC met at a small law firm to close the sale of the property with a buyer from New York. As a result of their generosity, the Dimmermans will receive an annuity of over $30,000 each year for the rest of their lives, along with a significant tax deduction on their tax return. President of the GBMC Foundation, Doug Smith, summed up the Hospital’s gratitude, “The Dimmermans were so kind and so patient throughout this entire process. Both they and GBMC were sailing into uncharted waters with this real estate gift. GBMC had never accepted appreciated Real Estate into a Charitable Gift Annuity before, and the Dimmermans had never contributed to a Gift Annuity program.” Smith said that given the level of trust between the Dimmermans and GBMC, the gift made sense for all parties involved, “It is so rewarding when you are dealing with people who care about the future of GBMC. It is doubly rewarding when you know that the transaction is a sound financial decision for such wonderful people and for GBMC -- an organization which we all know does so much for our community.”
GBMC Foundation Planned Giving content ©2008 VirtualGiving |
On April 24, 2003 it was official. Martin and Dawn Dimmerman irrevocably gifted
a 40 percent share of their $1.3 Million beachfront home on Long Beach Island,
NJ to GBMC. The planned gift represented a magnanimous gesture by the couple
to ensure the future of GBMC as one of Central Maryland’s finest hospitals.
The generous gift, given as a Charitable Gift Annuity, will also pay big dividends
to the Dimmermans over the rest of their lives.