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.
London Institution
The London Institution was an educational institution founded in London in 1806 (not to be confused with the British Institution for Promoting the Fine Arts in the United Kingdom founded the previous year, with which it shared some founders). It preceded the University of London in making scientific education widely available in the capital to people such as the Dissenters who adhered to non-orthodox religious beliefs and were consequently barred from attending Oxford University or Cambridge University.