The London School of Economics is a public research university located in London, England, and a member institution of the federal University of London. Founded in 1895, by Fabian Society members Sidney Webb, Beatrice Webb, Graham Wallas, and George Bernard Shaw, LSE joined the University of London in 1900 and established its first degree courses under the auspices of the university in 1901. LSE began awarding its own degrees in its own name in 2008, prior to which it awarded degrees of the University of London. The LSE is located in Westminster, Central London, near the boundary between Covent Garden and Holborn. The area is historically known as Clare Market. The LSE has more than 11,000 students, just under seventy percent of whom come from outside the UK, and 3,300 staff. It had an income of £415.1 million in 2019/20, of which £31.8 million was from research grants.