By Indenture dated the 12th and 13th June 1760, Renald Allen and Sarah his wife, and George Ekins, in consideration of £260 paid by Abigail Bailey and Ann Levett, Widows, and by their direction conveyed a house, and close of 4 acres adjoining, and certain pieces of open field land in the parish of Hargrave, in the county of Northampton, to nine Trustees, upon trust that they should pay so much of the clear yearly rent thereof as they or the majority of them should think proper, to such person as should be elected by them to teach in reading such poor children of the parishes of Chelveston and Caldecott as by the Trustees should be chosen, and that if after such payment there should remain any surplus after payment of all taxes and other outgoings and repairs of the said premises, the same should be applied to such charitable uses, as the said Trustees, or the major part of them should think proper. It was also provided that the Trustees might at any time thereafter make such alterations in disposing the said charity as they should think fit so that the whole clear yearly rent of the said premises be disposed of to charitable uses.
By an inclosure award in 1807 a farm at Hargrave comprising a house and 20 acres of land were allotted in lieu of the land included in the original purchase.
A schoolroom was erected for the charity by means of income saved during a vacancy in the Mastership. It appears to have been built on the waste of the Manor.
By an Order of the Charity Commissioners dated 29th May 1863, the Vicar and Churchwardens of the Parish of Chelveston for the time being and two other persons were appointed Trustees to act jointly with the surviving Trustees: and the real estate belonging to the Charity was vested in the Official Trustee of Charity Lands.
A new School was built in 1865, and by an Indenture dated 25th September 1865, the land containing 1 rood 21½ perches whereon the school known, as "Chelveston School" and Schoolmaster's house had lately been built was in consideration of the sum of £30 conveyed to the Trustees of the School Charity without any express trusts.
By an Order of the Charity Commissioners dated 8th February 1808, Trustees were appointed and the real estate belonging to the Foundation was vested in the Official Trustee of Charity Lands.
By an Order of the Charity Commissioners, dated 20th June 1899, further Trustees were appointed.
The endowment consists of the School Premises containing 1 rood 21½ perches and 24 acres 0 roods 36 perches of land in Hargrave let at a yearly rent of £19.
It is estimated that when certain repairs to the farm building are completed and paid for, the net income will be about £27.
The income has been applied to the general expenses of the school, which has accommodation for 104 children and an average attendance of 48.
The Charity Commissioners, by a Scheme dated I8th May 1906, determined that the whole of the endowment of the Foundation is held for educational purposes. Clause 13 provides that one-third of the net income shall he paid by the Trustees to the Managers of the School towards the maintenance (including insurance) and improvement of the school buildings of the Foundation.
Clause 14 provides that the remaining two-thirds of the net income shall be applied in the maintenance of Scholarships tenable at a Public Elementary School or a Secondary School or at an institution of technical, professional, or industrial instruction approved by the Trustees, to be awarded to boys and girls whose parents are bona fide residents in the parish, and who are scholars at a Public Elementary School.