Baltimore, MD, December 13, 2001 — Washington College yesterday was awarded $2.4 million from The Hodson Trust, a charity established by the family of Colonel Clarence Hodson, founder of the Beneficial Corporation financial services firm. The award will be targeted toward scholarships, student internships, faculty chairs, endowments, research and large construction projects.
"Washington College has flourished as a result of The Hodson Trust's steadfast support of Maryland's private, independent colleges," said John S. Toll, President of Washington College. "We are grateful for the Trust's special commitment to higher education in the state."
Since 1920, The Hodson Trust has given over $110 million to fund academic merit scholarships as well as research grants, technology improvements, building construction, library expansion, athletic programs, faculty salaries and endowment funds at Johns Hopkins University, and Hood, St. John's and Washington colleges.
The Trust also has supported the efforts of the Campaign for Washington's College—the College's five-year, $72 million capital fundraising campaign launched in September 1999—by designing a challenge program that matches gifts to endowments of $100,000 or more, doubling the value of the contributions. Since 1999, nearly $9 million has now been raised in response to the Hodson Challenge, and Hodson Trust Chairman Finn M.W. Caspersen has approved an extension of the Challenge from $10 million to a total $15 million, an important catalyst to donors who welcome the opportunity to double their dollars while providing for the long-term financial health of the College.
"The Trust has leveraged our success in recruiting good students and in attracting and retaining gifted professors," added Toll. "We thank Finn Caspersen for his enthusiasm to extend the benefits of this challenge program."
For information on The Hodson Trust, visit www.hodsontrust.com.