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Hood receives $2.5 million from Hodson Trust

Friday, December 13, 2013

FREDERICK, Md.—Hood College has received $2.5 million from The Hodson Trust that will go to academic initiatives and student scholarships.

The largest portions of the gift will go to the College's nursing program, including $425,000 to help fund the Hodson Trust Professorship in Nursing; and $250,000 for equipment for a new nursing lab facility in the Hodson Science and Technology Center.

The gift also includes $400,000 to fund faculty research. The trust has provided nearly $1 million in recent years to create and sustain an endowment fund for the summer research institute, which supports important faculty research initiatives across academic disciplines. Also included in the gift is $925,000 toward the Hodson Trust Scholarship Endowment for student scholarships and $500,000 toward construction and upgrades to Tatem Arts Center and the Hodson Science and Technology Center.

"We appreciate the Hodson Trust’s ongoing generosity, which throughout the years has provided funding for important college initiatives, including faculty research, academic programming and student scholarships," said President Ronald Volpe. "The successes Hood has realized during this critical transformational period could not have occurred without the significant and continuing support from the Hodson Trust. For that we are grateful."

The Hodson Trust, whose investment in talented students is a top priority, has awarded the College more than $76 million since 1936. 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 include the Hodson Fitness Center in the new campus athletic center, Hodson Outdoor Theater, the Hodson Swimming Pool, the Hodson Gallery in the Tatem Arts Center, the Hodson Science and Technology Center, the Beneficial-Hodson Library and Information Technology Center and more.

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.