Historic Gifts To University Of Northern Iowa, St. John’s College

This past week saw the University of Northern Iowa (UNI) in Cedar Falls, Iowa and St. John’s College in Annapolis, Maryland receive historic private gifts. At UNI, businessman and alum David Wilson pledged $25 million, the largest single gift in that school’s history. And at St. John’s College, the Hodson Trust has gifted $35.1 million to the college, the second largest donation in its history.

University of Northern Iowa

Wilson’s $25 million pledge to UNI will be used for the College of Business, which will be named the David W. Wilson College of Business in recognition of the gift. The donation will establish endowments within the college.

The David W. Wilson Scholars Endowed Fund will be used to provide scholarships for students in Tama County, Iowa, who have financial need. The first Wilson Scholarships will be awarded in the 2024-2025 academic year, with the anticipation that eventually four Wilson Scholars will be funded annually.

A second fund will establish the David W. Wilson Endowment for Integrity and Excellence that will expand on the ethics programs currently offered as part of the David W. Wilson Chair in Ethics as well as build a partnership with the Department of Philosophy and Religion. That fund will also provide funding for innovation in businesses and organizations.

“This is a historic moment for our campus. The Wilson College of Business will truly transform business education at UNI, taking our already premier business programs to new heights,” said UNI President Mark Nook in a university press release. “We’re honored that UNI’s first named college will stand as a testament to David’s belief in the power of education and will provide resources for the university to foster innovation for the future.”

A 1970 graduate of UNI, David Wilson is now chairman and CEO of Wilson Automotive, one of the country’s largest privately held auto dealerships. “This gift to UNI is made in the hope that this money will transform the university; transform the College of Business,” said Wilson. “I’m hoping this gift will ensure students will learn to do things the right way.”

St. John’s College

St. John’s College Annapolis announced last week that it had received $35.1 million from the Hodson Trust. That donation brings the college’s total endowment to $244.5 million. It will provide students with an additional $1.8 million in financial scholarship support annually.

“The Hodson Trust has long made a difference for our Annapolis students and for our campus,” says President Nora Demleitner in the announcement. “Their generosity with this final gift will ensure we can provide needed scholarship support to students for generations to come.”

The gift is part of the dissolution of The Hodson Trust. The Trust was established in 1920 by Col. Clarence Hodson, a banker who went on to found Beneficial Corporation, which grew into one of the largest consumer finance companies in the U.S. before being acquired by Household International Inc. in 1998.

Earlier last week, it was announced that as a result of its dissolution, the Hodson trust had made gifts of $54.7 million to Washington College, in Chestertown, Maryland and $54 million to Hood College, a liberal arts college in Frederick, Maryland. Both donations were the largest gifts ever received by those institutions.

According to the college, the Hodson Trust has bequeathed more than $100 million in gifts to St. John’s since 1965, including this latest disbursement. Funds from the trust have provided 1,300 St. John’s Annapolis undergraduates with academic scholarships and summer internships. The trust also has supported several new and renovated building projects on the St. John’s campus.