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.
University of London
The reforms initiated by the 1898 act came into force with the approval of the new federal statutes in 1900. Many of the colleges in London became schools of the university, including UCL, King's College, Bedford College, Royal Holloway and the London School of Economics. Regent's Park College, which had affiliated in 1841, became an official divinity school of the university in 1901 (the new statutes having given London the right to award degrees in theology) and Richmond (Theological) College followed as a divinity school of the university in 1902; Goldsmiths College joined in 1904; Imperial College was founded in 1907; Queen Mary College joined in 1915; the School of Oriental and African Studies was founded in 1916; and Birkbeck College, which was founded in 1823, joined in 1920.