On May 14, 1755, The College of Philadelphia was formally established by Proprietary charter, evolving from an academy and charity school project proposed by Benjamin Franklin in 1749 and initiated in 1751. It was the first nonsectarian, higher education institution in the American colonies, which later became the University of Pennsylvania.

By organizing a medical faculty separate and distinct from the collegiate faculty, Penn’s trustees effectively created the first university in North America, though the corporate name continued as the College of Philadelphia until 1779.