After Lee's death, the university continued his program of educational innovation, modernization, and expansion. In 1905, the Board of Trustees formally organized a School of Commerce in order to train students in business and finance alongside the college and the School of Law. In 1995, Ernest Williams II of the Class of 1938 endowed the School of Commerce which was renamed the Ernest Williams II School of Commerce, Economics, and Politics. The Williams School is one of the few accredited schools of business at a top liberal arts college and consists of departments of Business, Economics, Politics, and Accounting. Also in 1905, Andrew Carnegie donated $55,000 to the university for the erection of a new library.