Picture of Colonel Clarence Hodson

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December 1, 2010


Frederick, Maryland – December 7, 2010 – Hood College's largest benefactor has awarded more than $1.7 million to the college. In accepting the gift at an awards dinner recently held in Baltimore, Hood President Ron Volpe thanked the Hodson Trust board members for such a generous gift during these uncertain economic times and reported that the monies would be used for scholarships, the establishment of a research institute and for the college's new fitness center.

Funds will added to the Hodson Scholarship Fund, which provides financial assistance to students; to establish and begin funding the new Hodson Research Institute for faculty and student research; to the fitness center sections of the new Hood Athletic Center, scheduled to be completed next year; and to the Hodson Trust Star Scholarship program, established three years ago for Maryland veterans who have served in the military in Iraq and Afghanistan. That scholarship pays for 100 percent of students" costs not met by other scholarships or assistance.

The Hodson Trust, whose investment in talented students is a top priority, has awarded the college nearly $70 million since 1936. Hood has used this money, donated by the trust and the Hodson Scholarship Foundation, to support scholarships, endowed professorships, athletic programs, research grants and internships, and to build and upgrade campus facilities.

Throughout the college, the Hodson name is prevalent from scholarships for students and fellowships for faculty to a lecture series and named buildings. Some of the Hodson-named buildings and facilities are the Hodson Outdoor Theater, the Hodson Swimming Pool in the Gambrill Gymnasium, the Hodson Gallery in the Tatem Arts Center, the Hodson Science and Technology Center, the Beneficial-Hodson Library and Information Technology Center and the Hodson Auditorium in Rosenstock Hall.

Each year the Hodson grant is distributed among four Maryland institutions: Hood, Washington and St. John's colleges and The Johns Hopkins University.

The trust was settled in 1920 by the family of Col. Clarence Hodson, who grew up in Maryland. Hodson believed that credit should be available to the average American, a revolutionary idea in 1914 when he founded the Beneficial Loan Society. Beneficial became one of the nation's most successful corporations.

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Baltimore, Maryland – December 13, 2010 – The Hodson Trust has awarded $1.7 million to Johns Hopkins University to support undergraduate scholarships and research in oncology and nephrology. The grant was awarded following the Dec. 1 Hodson Scholars Luncheon, at which two students spoke of their gratitude for the Hodson Trust's support. Pictured are President Ronald J. Daniels, Hodson Scholar Yagmur Muftuoglu, Hodson-Gilliam Success Scholar Chelsea Gonzales and Hodson Trust Chairman Gerald L. Holm.

Since its first grant in 1958, the Hodson Trust has given Johns Hopkins nearly $73 million, most of which has been designated for undergraduate scholarships

The Hodson Trust was settled in 1920 by the family of Col. Clarence Hodson, who grew up in Maryland. Hodson believed that credit should be available to the average American, a revolutionary idea in 1914, when he founded the Beneficial Loan Society. Beneficial became part of Household International, now HSBC, in 1998.

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Chestertown, Maryland – December 21, 2010 – The Hodson Trust earlier this month awarded $1.7 million to Washington College to fund three strategic priorities. Washington College president Mitchell Reiss says the gift will fund scholarships and faculty research and help the College build the endowment for an existing professorship in economics.

“This generous gift, the latest in a long tradition of support from The Hodson Trust, will enable us to meet a number of important goals identified in the College's strategic plan,” Reiss adds.

The majority of the gift will add $1.2 million to the $16.6 million Hodson Trust (Merit) Scholarship Endowment, which provides four-year awards to full-time students who have demonstrated outstanding academic achievement, character and citizenship. At present, 49 students are receiving a combined $780,000 in annual scholarship support from the endowment; this year's gift will ultimately generate an additional $60,000 in annual scholarship funds. "Increasing endowment for student scholarships remains one of the College's most pressing needs, and The Hodson Trust has been a long and steadfast supporter in this regard," said Reiss.

This year's gift also provides $250,000 to establish The Hodson Trust Faculty Development Fund, which will more than double the resources now available to faculty for ongoing research, scholarship and professional development. The fund will provide competitive grants for scholarly work on campus, around the nation and across the globe. The Faculty's Service and Scholarship Committee will administer the fund and make awards based on a peer review of submitted applications. "The personal interactions and mentoring relationships between our professors and students remain a key aspect of our graduates" success. By helping our professors stay current, vital and actively involved in their areas of expertise, The Hodson Trust funding will nurture the very heart of our mission as a top-tier liberal arts college," observed Reiss.

Finally, The Hodson Trust has provided a $200,000 addition to the endowment that supports the Hodson Trust Professor of Economics, established in 1977 and recently valued at close to $367,500.

These gifts from The Hodson Trust add a new chapter to the story of a generous partnership that spans more than nine decades.

The Trust, established in 1920 by the family of Colonel Clarence Hodson, benefits four Maryland educational institutions: Washington College, Hood College, St. John's College and The Johns Hopkins University. Colonel Hodson grew up in Somerset County, Maryland, and went on to found the Beneficial Loan Society, a groundbreaking home mortgage business that grew into a major financial services corporation. An initial investment of $100 grew over the ensuing decades into a trust that has awarded almost $225 million to the four beneficiary institutions. For more information, visit www.hodsontrust.org.

Washington College is a private, independent college of liberal arts and sciences located in historic Chestertown on Maryland's Eastern Shore. Founded in 1782 under the patronage of George Washington, it was the first college chartered in the new nation. To learn more, please visit www.washcoll.edu.

These gifts from The Hodson Trust add a new chapter to the story of a generous partnership that spans more than nine decades.

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