The University of Oklahoma was founded in 1890 and held its first classes in 1892 under its first president David Ross Boyd. In 1893, the university built its first building, which burned down in 1903. However, President Boyd continued educating students. In 1932, 167 acres was added to the university. David Boren was elected president in 1994 and has raised over $500 million for the university in the last 15 years. In 2011, the University of Oklahoma was ranked number one among public universities for freshman National Merit Scholars.