Picture of Colonel Clarence Hodson

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November 29, 2012


COLLEGE RECEIVES $2 MILLION GIFT FROM THE HODSON TRUST

Frederick, Maryland—Tuesday, December 4, 2012—Hood College received more than $2 million from its largest benefactor, The Hodson Trust, that will be used for student scholarships, faculty and student research, continued funding of the new nursing program, campus improvements, and to provide tablet computers for all undergraduate students and faculty.

The largest portion of the gift will go to student scholarships and faculty-student research. The Hodson Scholarship Fund provides financial assistance to students and to the Hodson Trust Star Scholarship program, which was established five years ago for Maryland veterans who have served in the military in Iraq and Afghanistan and pays for 100 percent of students" costs not met by other scholarships or assistance.

The Hodson Summer Research Institute, established three years ago, funds collaborative faculty and student research. During the past three years the trust has provided special funding that supports current faculty research and establishes an endowment fund that supports future research initiatives.

"We are delighted to receive this early holiday gift from our most generous benefactor," said Hood College President Ronald J. Volpe. "This gift will fund those programs that have been identified in our strategic plan and will continue to secure Hood's bright future."

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Other parts of the gift will support campus improvements, including creating additional laboratories and classroom spaces in the Hodson Science Center and classrooms and office space in the Tatem Arts Center, and continued funding for the Hodson Endowed Chair in Nursing.

The trust will also fund the purchase of Apple iPads for full-time undergraduate students and full- and part-time faculty at the College. The College began a pilot program two years ago when it issued iPads to all incoming first-year students and integrated this technology into various components of its curriculum.

The Hodson Trust, whose investment in talented students is a top priority, has awarded the College nearly $74 million since 1936. Hood has used this money, donated by the trust and the Hodson Scholarship Foundation, to support scholarships, endowed professorships, academic programming, research grants and internships, athletic programs, 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.

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HODSON TRUST SALUTES SUPPORTED SCHOLARS

photo of graduates celebrating

Seated in front of the Hodson Scholars and Hodson-Gilliam Success Scholars are the six members of the Hodson Trust board. In the center of the first row behind them are Mohamed Hamouda, left, and Wyatt Larkin. Image: Will Kirk/homewoodphoto.jhu.edu

Baltimore, Maryland—November 29, 2012—Members of the board of the Hodson Trust and their guests came to the Homewood campus on Nov. 29 for the annual Hodson Scholars Luncheon. As this year's featured student speakers, Wyatt Larkin represented Hodson Scholars, and Mohamed Hamouda represented Hodson-Gilliam Success Scholars.

The Hodson Scholarship is awarded on the basis of academic merit and currently provides partial tuition support for 74 students.

The Hodson-Gilliam Success Scholarship (named in memory of James Gilliam, former member of the Hodson Trust board) replaces loan in the financial aid package and currently supports 61 outstanding students from underrepresented minority groups and others.

Since 1958, the Hodson Trust has awarded annual grants to Johns Hopkins University that have funded priorities across the campuses, including the construction of Homewood's Hodson Hall.

For 2012, the trust is providing more than $2 million for undergraduate scholarships, research in oncology, and the Hodson Curator of the University Archives, bringing the trust's cumulative contribution to more than $76 million.

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.ficial became one of the nation's most successful corporations.

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THANK YOU!, HODSON TRUST

Continuing more than nine decades of support, the Trust Awards the College more than $2 million to be used for scholarships, student internships and faculty development. 

Chestertown, Maryland—December 7, 2012—The Hodson Trust, Washington College's single largest benefactor, has awarded more than $2 million in 2012 to boost faculty development, fund merit scholarships and, new this year, offer financial support to WC students who take on valuable but low- or no-pay internships. These gifts continue a tradition of support that began more than nine decades ago.

photo of graduates celebrating

In announcing receipt of Hodson's 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. "As the economy struggles to fully recover, students and their families struggle to invest in a top-tier liberal arts education," says Reiss. "We are deeply grateful for The Hodson Trusts' steadfast support in these areas."

The new endowment for student internships, in the amount of $561,250, will remove the economic barrier that prevents many financially strapped students from accepting unpaid internships, despite their long-term career benefits. In a letter to The Hodson Trust, President Reiss wrote that "there is no substitute for putting into action the theories and practices learned in the classroom," but that paid internships are increasingly difficult to secure. Unpaid internships with their lack of wages, stipends, and/or travel expenses can restrict the pool of applicants. "Some families and students opt for short-term income over the long-term advantages of completing a successful internship. We want to remove such barriers to experiential learning through Hodson Trust Internship Grants."

The 2012 gift also boosts by another $200,000 the endowment for the Hodson Trust Chair in Economics, currently held by associate professor Lisa Daniels. The College's Hodson Trust Faculty Development Fund—which supports competitive grants for faculty research, scholarship, seminars and other advancement opportunities—received an additional $337,500 in funding, bringing the total endowment to more than $1 million dollars. An additional $26,250 was provided for current-year awards.

The Hodson 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 $240 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.

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