It's an American private Ivy League research university in New Haven, Connecticut. Founded in 1701, it is the third-oldest institution of higher education in the United States and one of the nine Colonial Colleges chartered before the American Revolution. Chartered by Connecticut Colony, the "Collegiate School" was established by clergy in Saybrook Colony to educate Congregational ministers. It moved to New Haven in 1716 and shortly after was renamed Yale College in recognition of a gift from British East India Company governor Elihu Yale. Originally restricted to theology and sacred languages, the curriculum began to incorporate humanities and sciences by the time of the American Revolution. In the 19th century, the school introduced graduate and professional instruction, awarding the first Ph.D. in the United States in 1861 and organizing as a university in 1887. Its faculty and student populations grew rapidly after 1890 with rapid expansion of the physical campus and scientific research. Yale is organized into fourteen constituent schools: the original undergraduate college, the Yale Graduate School of Arts and Sciences and twelve professional schools. While the university is governed by the Yale Corporation, each school's faculty oversees its curriculum and degree programs. In addition to a central campus in downtown New Haven, the University owns athletic facilities in western New Haven, a campus in West Haven, Connecticut and forest and nature preserves throughout New England. The university's assets include an endowment valued at $25.4 billion as of June 2016, the second largest of any U.S. educational institution. The Yale University Library, serving all constituent schools, holds more than 15 million volumes and is the third-largest academic library in the United States.