The group's efforts for the institution began to crystallize in 1845, when Stephen William Taylor, a professor at Madison University (now Colgate University) in Hamilton, New York, was asked to prepare a charter and act as general agent for the development of the university. The charter for the University at Lewisburg, granted by the Pennsylvania General Assembly and approved by the governor on February 5, 1846, carried one stipulation–that $100,000 ($ today) be raised before the new institution would be granted full corporate status. More than 4,000 subscribers ultimately contributed, including a small boy who gave 12 cents ($ today).