The university bears the name of Honourable William McMaster, a prominent Canadian Senator and banker who bequeathed C$900,000 to the founding of the university. McMaster University was incorporated under the terms of an act of the Legislative Assembly of Ontario in 1887, merging the Toronto Baptist College with Woodstock College. It opened in Toronto in 1890. Inadequate facilities and the gift of land in Hamilton prompted the institution to relocate in 1930. McMaster was controlled by the Baptist Convention of Ontario and Quebec until it became a privately chartered, publicly funded non-denominational institution in 1957.