The Foundation

The History of the Foundation

Richard Reeve died on 31 August 1702 and left the majority of his estate to the Minister and Churchwardens of St Sepulchre for the education and maintenance of poor children of the parish.  The Reeve’s Foundation was established in 1706.

In 1705 the Trustees established the charity as follows:

• £18 per annum was to paid to the parish schools for the education of 3 girls and 3 boys
• A maximum of £7 was to be spent per child on clothes and apprenticeship
• No more than 2 children were to be apprenticed from the schools in any one year
• The residue of the estate was to be used for the maintenance, education and apprenticeship of other poor children from the parish Nurse Book and workhouse

Shares in East India and Bank of England stocks, plate and lace were sold and the money was reinvested in freehold property. The Foundation purchased properties in Golden Square and much of its income is still derived from these properties today.

The Foundation suffered serious decline until 1747, when much of the endowment was incorporated into general parish funds but it wasn’t until Dr Shackleford was appointed at St Sepulchre in 1786 that the Foundation's fortunes were restored. It was decided that the funds would be used for the education, boarding, clothing and apprenticeship of eight or more boys chosen from the workhouse. On reaching the age of 13 or 14 the boys were put into apprenticeships.   

In 1830 the Reverend Mr Natt became the minister of St Sepulchre and set about tightening up the administration of the charity. The value of the endowment grew throughout the nineteenth century and in 1869, a new Charity Commission scheme enabled the Foundation to assist up to five hundred children with their education.

The 1894 scheme made broader provisions, including an annual payment to Christ’s Hospital to guarantee thirty places for Reeve’s scholars.

During the twentieth century, the Foundation's fortunes fluctuated but the Governors remained alert to the changing educational needs of young people. In 1991 the Charity Commission approved the expansion of the area of benefit to encompass the London Boroughs of Camden and Islington and the City of London. Furthermore, in recognition of the need for people to retrain, permission was given to make grants to applicants up to the age of 40 in certain circumstances.

In 2005 the Reeve’s Foundation changed its name to Richard Reeve's Foundation.