In 1887 William Vanderbilt Jr. offered a substantial financial sum to the IEA. With the support of Dodge, Vanderbilt appointed Nicholas Murray Butler, the future longest-serving president of Columbia University and Nobel Peace Prize recipient, as new president of the IEA. The IEA decided to provide schooling for the teachers of the poor children of New York City. Thus, in 1887–1888, it employed six instructors and enrolled thirty-six juniors in its inaugural class as well as eighty-six special students. To reflect the broadening mission of education beyond the original philanthropic intent set forth by Dodge, the IEA changed its name to the New York School for the Training of Teachers, and received its temporary charter from the New York State Board of Regents.