Four Md. colleges to share $6.7 million from Hodson Trust

December 03, 1998|By Michael Hill | Michael Hill,SUN STAFF

The Hodson Trust, set up 78 years ago to support four private colleges in Maryland, handed out its annual grants yesterday, $6.7 million going to the Johns Hopkins University, Hood College, St. John's College and Washington College.

Hopkins, Hood and Washington each get $1.94 million, while St. John's receives $881,839, according to an enrollment-based formula written into the original agreement.

Hood will spend this year's gift on construction of a science center. St. John's will put the money toward a technology endowment, the athletic program and faculty salaries. At Washington, the money will go to scholarships, as will part of the Hopkins grant, with the rest of the Hopkins award supporting oncology research in East Baltimore.

Finn Caspersen, head of the trust, said the grants are expected to grow in the next few years.

Once tied to the stock of Beneficial Finance Corp., the $450 million trust is being invested in higher-yield start-up companies since Beneficial was bought by Household Finance.

Pub Date: 12/03/98

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