In 1847 a Congregational Society in Concord, New Hampshire, invited the Institute to relocate to Concord and made available a disused Congregational church building with a capacity of 1200 people. Other citizens of Concord covered the remodeling costs. One stipulation of the invitation was that the Institute remain in Concord for at least 20 years. The charter issued by New Hampshire designated the school the "Methodist General Biblical Institute," but it was commonly called the "Concord Biblical Institute." The school graduated its first class in 1850.