London School of Economics
The London School of Economics was founded in 1895 by Beatrice and Sidney Webb, initially funded by a bequest of £20,000 from the estate of Henry Hunt Hutchinson. Hutchinson, a lawyer and member of the Fabian Society, left the money in trust, to be put "towards advancing its [The Fabian Society's] objects in any way they [the trustees] deem advisable". The five trustees were Sidney Webb, Edward Pease, Constance Hutchinson, William de Mattos and William Clark.
City and Guilds of London Art School
In 1879 Sparkes secured the involvement in the art school of the newly founded City and Guilds of London Institute, which received financial backing from 16 Livery Companies. The new backing secured the financial future of the school without the strings attached to government funding. Under the new arrangement, the art school moved to a new building in Kennington Park Road, which it still occupies, and Lambeth School of Art was renamed the South London Technical School of Art. In 1937 it changed its name to the City and Guilds of London Art School, reflecting the historical and continued support of the city of London Livery Companies.