In 1823, a report published by the Charity Commission revealed that over the centuries, the income from the bequest vastly exceeded the expenses of the boys' education. In response to the report, the Corporation of London indicated that it had taken, "great pains...by searching in the archives of the corporation and other places for the will of John Carpenter, without effect". Had the Corporation instead looked for the will of John Don, it would have received guidance in what to do with the money.