Yale University is a private Ivy League research university founded in 1701 as the “Collegiate School”. 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. The Collegiate School was renamed Yale College in 1718 to honor the school’s largest benefactor, Elihu Yale. The university’s assets include an endowment valued at $30,3 billion as of September 2019, the second largest endowment of any educational institution in North America. Its library, serving all constituent schools, holds more than 15 million volumes and is the third-largest academic library in the United States. Yale University is ranked among the 20 best universities in the world by all the major rankings.