Questions and Answers With . . .
Since 1976, Finn Caspersen has been chairman of the Hodson Trust, overseeing an annual distribution of grants to four Maryland schools: Johns Hopkins University in Baltimore, St. John's College in Annapolis, Hood College in Frederick and Washington College in Chestertown, on the Eastern Shore. This year, each of the four schools will receive more than $1.6 million, according to an announcement last week.</br></br>Caspersen and his staff answered questions from staff writer Darragh Johnson about the Hodson Trust, which has as its motto: "Assisting in the advancement of education for decades."</br></br>A The Hodson Trust was settled in 1920 by the family of Beneficial Corporation founder Colonel Clarence Hodson to support excellence in education. . . . Colonel Hodson spent his youth in Crisfield, Maryland, where at the age of 25 he was elected president of the Bank of Crisfield and was the youngest bank president in the United States at the time. Throughout his 40-year business career, Hodson was director for more than 40 banks, trust and mortgage companies, insurance companies and public utilities. He applied his experience and knowledge to encourage state legislatures to enact laws to make small loans available to working-class Americans at affordable interest rates. His success forced unscrupulous loan sharks out of business.</br></br>Why did the trust select these four colleges as its recipients, instead of spreading the money, over the years, among other schools?</br></br>The trustees have discretion in determining how the gifts will be used. This year, St. John's is using the money to build a new dormitory. Hood's gift will go for scholarships. Washington College is in the midst of a campaign to raise $37 million, so their money will be for challenge grants, and Johns Hopkins is using the money for merit scholarships, summer internships and research on cancer at the medical school.