The origins of the charitable status of elite schools in England is a neglected topic. This article reconstructs the debate on the funding of schools which led to the establishment of the Charity Commission in 1853 and argues that it was the obdurate refusal of the Anglican Church to surrender its control of secondary education which first delayed reform and then forced the compromise which resulted in the major public schools remaining outside the direct control of the new Commission. In conclusion, it argues that decisions which were taken in the mid-nineteenth century continue to resonate today, allowing elite schools catering for some of the richest families in the land to continue to operate as registered charities and benefit from significant financial support from the State. The article carries the implicit suggestion that this is but one of several controversial contemporary issues which might benefit from more detailed historical contextualisation.