Frederick, Maryland – December 7, 2011 Hood received nearly $2 million from its largest benefactor, The Hodson Trust, that will be used for scholarships, research and campus improvements.
The largest portion of the gift will go to student scholarships—the Hodson Scholarship Fund, which provides financial assistance to students, and the Hodson Trust Star Scholarship program, established four 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.
Funds will also go toward faculty research, campus improvements, including continued residence hall upgrades and other campus improvements, and the Hodson Endowed Chair in Nursing.
The Hodson Trust, whose investment in talented students is a top priority, has awarded the college nearly $72 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 Fitness Center in the new campus athletic center, 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.
Baltimore, Maryland December 15, 2011 The Hodson Trust this month awarded nearly $2 million to Johns Hopkins University to support undergraduate scholarships, research in oncology and nephrology, and the Hodson Curator of the University Archives. The grant was awarded Dec. 1 following the annual Hodson Scholars Luncheon, at which two students expressed their gratitude for the Hodson Trust's support.
Pictured are Hodson Trust Chairman Gerald L. Holm, Hodson-Gilliam Success Scholar Dominique Marshall, Hodson Scholar Hugo Cervantes and Johns Hopkins President Ronald J. Daniels.
Since its inaugural grant to Johns Hopkins in 1958, the Hodson Trust has given the university more than $74 million, mostly for undergraduate scholarships and for the construction of Hodson Hall.
The Hodson Trust was settled in 1920 by the family of Col. Clarence Hodson, who grew up in Maryland. Hodson believed that financial 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.
Chestertown, Maryland December 19, 2011 The Hodson Trust, Washington College's single largest benefactor, has awarded $2,004,250 in grants to fund scholarships, faculty development and technology upgrades to the school it has supported for more than nine decades.
In announcing receipt of Hodson's generous annual gift, College President Mitchell B. Reiss explained that more than $1 million is earmarked for the Hodson Trust Merit Scholarship Fund, which provides four-year awards to full-time students who have demonstrated outstanding academic achievement, character and citizenship. Sixty-four current Washington College students receive merit scholarships funded by the Trust. "In this economic climate, these scholarships are vitally important as students and families stretch their resources to meet the cost of a private education," says Reiss. "The Hodson Trust's steadfast support in this area is greatly appreciated."
An additional $44,764 will support ongoing Hodson Trust Star Scholarships for veterans of the U.S. wars in Iraq and Afghanistan. Washington College currently has three veterans enrolled under the program.
Professional development for the faculty is another priority traditionally supported by The Hodson Trust. This year's gift will add $412,500 to the endowment of the Hodson Trust Faculty Development Fund, established last year to fund competitive grants for faculty research, scholarship, seminars and other opportunities for learning and advancement. An additional $37,500 is available to support grant awards in the coming year. "Our gifted faculty, and the myriad ways in which they share their enthusiasm and expertise with our students, is at the heart of our mission," said Reiss. "By empowering the faculty to stay current and engaged in their subject areas, we can continue to inspire our students to pursue their own passions."
The 2011 gift also boosts by $200,000 the endowment for the Hodson Trust Chair in Economics, currently held by associate professor Lisa Daniels.
In response to the College's technology needs, The Hodson Trust has earmarked $300,000 to help pay for upgrades in admissions software and website architecture. Over the next two years the College will implement a new software program for prospective students and introduce a new website design and content management system.
The Hodson Trust's generous support of Washington College began more than nine decades ago. The Trust was established in 1920 by the family of Colonel Clarence Hodson to benefit four private educational institutions in Maryland: Washington College, Hood College, St. John's College and The Johns Hopkins University.
Colonel Hodson, who grew up in Somerset County, founded 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 more than $230 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 founded in Chestertown 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.