Originally part of the Ratcliffe Charity founded in 1536 by Nicholas Gibson (see below), to provide an almshouse for 14 men and women and a school for 30 boys. The greater part of the income is paid over to the Coopers' Co. & Coborn Educational Foundation which succeeded the Stepney & Bow Educational Foundation in 1972. A payment is also made to the Ratcliffe Pension Charity.