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Prices Make Transformational Gift to GBMC’s Promise Project

May 31, 2021
Dick and Mickey Price appreciate the care their family has received at GBMC over the decades. In 2007, to demonstrate their profound gratitude, they became members of the Elizabeth Duncan Yaggy Society by contributing their first charitable gift annuity (CGA). To date, they have contributed six annuities and are now valued members of the Joseph S. Keelty Society.

Their most recent CGAs will benefit The Promise Project.

“When new medical technology was coming out in 1965, we thought we were the most modern hospital in the country,” Dick said. “Over the ensuing years, as you look around and see what other hospitals have done, we realize GBMC’s new expansion is going to bring a lot of opportunity that our community has come to expect here.”

Dick’s wife of 22 years, Mickey, added, “Once that new section is built, it’s going to be the top of the line for GBMC. And, as they bring the older rooms up to date, it’s just going to be best in class.”

When Dick says, “…we thought we were the most modern hospital in the country,” he is not talking in generalities. The Phoenix resident, who ran his family’s dairy farm for his lengthy career, and his wife have been intimately involved with GBMC from the beginning as well as with one of its founding hospitals, The Hospital for the Women of Maryland, of Baltimore City.

“I was born at Women’s Hospital, and my sister, Ruth Yates, and sister-in-law, Genie Price, both earned their nursing degrees from Women’s,” Dick said.

Dick was president of the Baltimore County Farm Bureau at the time of his recruitment to serve on the advisory committee for a new hospital in Baltimore County. The advisory committee dissolved a few years later, but Dick was one of the three members who were asked to serve on the newly formed GBMC Board of Trustees. He would also serve on the hospital’s Institutional Review Board for more than 35 years.

This is not Dick’s first experience seeing GBMC through an expansion. In July 1972, a Community Advisory Committee formed to “assist the hospital in implementing its long range expansion program,” according to a 1974 GBMC publication. Dick served as the chairman of that committee.

Dick and Mickey’s philanthropy through charitable gift annuities has as much to do with seeing the hospital they love expand and grow as it does providing for the most significant priority in their lives: their family.

“We added our two daughters – Valerie and Jocelyn – as beneficiaries on these last two gifts,” Dick said. “Both of them were born at Women’s Hospital and have been very interested in learning more about what goes on at GBMC and about healthcare itself.”

The Prices understand some individuals may be hesitant about CGAs, when they do not understand how they work. But having contributed these unique gifts to GBMC in 2007, 2016, 2019 and now 2021, they are venerable experts on the subject.

“Stock prices are at all-time highs and have a lot of capital gains built in for the long-term investor. God knows what’s going to happen in the future,” Dick said. “These annuities provide probably as high a rate as you can expect to get anywhere in terms of a guaranteed income stream.

“I know a lot of people are fearful to take the leap and contribute to a gift annuity. We have faith in GBMC. It’s definitely going to be around to make our annuity payments for the rest of our lives. After all, GBMC is an extremely valuable resource to our community that we must support, so it is around for generations to come.”
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