Foxe was assisted in his foundation by his friend Hugh Oldham, Bishop of Exeter, and Oldham's steward, William Frost. Oldham was a patron of education and donated £4,000 and land in Chelsea towards the foundation. For this, he was styled "præcipuus benefactor" (principal benefactor) by Foxe, remembered in daily prayers and a scholarship was established for students from Lancashire, where Oldham was born. Frost bequeathed his estate in Mapledurwell to the college, for which he and wife were remembered in a yearly prayer and a scholarship was founded for his descendants.