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Fred C. Lynam

The Directors of Bar Harbor Banking and Trust Company obviously took those words very seriously.

The Hattie A. and Fred. C. Lynam Trust was established August 4, 1942 with assets from the Fred C. Lynam Estate totaling $189,921.06.

The first year a bequeathed charitable donation was paid was 1948 in the amount of $200.  In 1949, the non-profits Mr. Lynam named in his Will were contributed to for a total of $1,000 and three scholarships were granted totaling $250.

From 1949 forward, the Trust has donated to the named non-profits in the Will and has granted scholarships as well as loaned funds to students.

By the end of 1952 assets from the trust had grown to approximately $400,000. and that was after all beneficiaries, bequests to the named charitable organizations were paid as well as granting many scholarships.

The Fred C. Lynam fund has grown immensely since its fledgling years.  In the year 2001, the Trust donated $15,000 to non-profit organizations and granted for the calendar year 2001, 143 scholarships approximating over $204,000.

The Fred C. Lynam Trust has donated to many non-profit organizations on the Island and off; non-profits such as Friends of Acadia, Summer Festival of the Arts, College of the Atlantic, Camp Beech Cliff, Kneisel Hall, St. Saviour’s Episcopal Church, Mount Desert Island Hospital, Jesup Memorial Library, Hancock County Scholarship Program, Bar Harbor Division of Community Health Services (now part of Blue Hill Memorial Hospital’s Home Care division), Bar Harbor VIA, Kid’s Corner, MDI YMCA and the YWCA Mount Desert Island, to name just a few.

We have received many letters from students and teachers requesting assistance for programs.  The Trust has contributed to purchases of band instruments for local schools; provided medical educational grants so caring community members may help others in need; MDI Lions Club for alcohol and drug free graduation parties; special awards to gifted students so they may attend out-of-state programs so each applicant may have the opportunity to hone their talent.  We even have a heart-felt letter from a young man who wanted to attend a summer camp to give his mom a break because he “wasn’t always as good as he could be for his mom” and he knew going to camp would be beneficial for him also.

This same fund has loaned thousands of dollars to local students who wouldn’t otherwise have been able further their education without assistance.

From its relatively small beginnings in 1942, by today’s standards, and into a new century, as of December 31, 2003, the Hattie A. and Fred C. Lynam Trust has donated to charitable and non-profit organizations over $800,000 and granted more than 3800 scholarships in excess of $3 million.  As of this writing, the Trust has a market value over $4 million.

I don’t know if Mr. Lynam envisioned the Trust to have such an impact on his community.  We owe a huge debt of gratitude to this man who had the foresight to include in his Will the establishment of a Trust unto which so many have benefited and continue to to this day.

Mr. Lynam was a wise man with remarkable foresight. His legacy continues to thrive and benefit Island residents as much as his physical presence, values, and vision influenced the growth of Bar Harbor over 100 years ago.

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