December 5, 1996
BALTIMORE -- The Hodson Trust, established more than 75 years ago to support higher education in Maryland, has awarded nearly $8.9 million to four colleges, almost doubling last year's grant.

"The Hodson Trust was established to support excellence in education and helps create opportunities for the leaders of tomorrow. Its commitment to higher learning, and the commitment of the educational institutions it supports, can only be measured by the many successes of the students who benefit," said Finn M.W. Caspersen, chairman of The Hodson Trust and chairman and chief executive officer of Beneficial Corporation. of Wilmington, Del.

The Hodson Trust was established in 1920 by the family of Beneficial founder Col. Clarence Hodson and benefits Hood College, St. John's College, Washington College and The Johns Hopkins University.

The private trust holds Beneficial Corporation stock as an investment, and uses the earnings from that stock and other investments to fund educational programs.

"The substantial increase in funding allows many more students to benefit from the educational opportunities afforded to them," said Caspersen. "The Hodson Trust is honored to help broaden the horizons of these fine students as they begin their journey toward successful careers."

Grants for 1996 are: $2,584,000.48 each to Washington and Hood colleges and to The Johns Hopkins University; and $1,120,926.96 to St. John's College. Each total includes $250,000 cash and stock grants for endowments for scholarships and other educational purposes.

Shirley D. Peterson, president of Hood College, said, "The undergraduates entering Hood College face unlimited educational opportunities thanks to the extreme generosity of the Hodson Trust.

"Hood's faculty and the Hodson Scholars who benefit from the Minority and Merit scholarship programs are grateful for Hodson Trust's enduring support of our educational programs and technological resources," Peterson said.

Dr. William R. Brody, president of The Johns Hopkins University, said, "The Hodson Trust's generous support allows distinguished undergraduate students to benefit from the best educational facilities on the East Coast.

"This year's grant -- an unexpected and amazing contribution -- is indicative of Hodson Trust's commendation of academic excellence," Brody said.

Christopher B. Nelson, president of St. John's College, said, "This year's overwhelming grant from the Hodson Trust enables St. John's to continue providing the highest quality education to talented young adults eager to pursue their dreams.

"This increase in funds benefits not only those students receiving Hodson Scholarships, but all St. John's students because the Trust also supports many academic programs and facilities throughout campus," said Nelson. "We have no words adequate to the munificence of the Hodson Trust, whose support year in and year out undergirds all that we do. We are very grateful."

John S. Toll, president of Washington College, said, "For many years the Hodson Trust has been the single most important supporter of Washington College, Maryland's first chartered college.

"All of this year's funds support scholarships, thereby permitting Washington College to continue accepting a diverse mixture of especially able students," Toll said. "The bulk of the funds will be invested as endowment in the Hodson Scholarship Foundation, thus creating additional Hodson Scholarships that will continue indefinitely, assuring that capable students will always be able to receive the special benefits of a Washington College education."