The University of Edinburgh (abbreviated as Edin. in post-nominals), founded in 1582, is the sixth oldest university in the English-speaking world and one of Scotland's ancient universities. The university is deeply embedded in the fabric of the city of Edinburgh, with many of the buildings in the historic Old Town belonging to the university. It is a member of both the Russell Group, and the League of European Research Universities, a consortium of 21 research universities in Europe. It has the third largest endowment of any university in the United Kingdom, after the universities of Cambridge and Oxford. The annual income of the institution for 2016–17 was £905.8 million of which £265.3 million was from research grants and contracts, with an expenditure of £847.5 million. The university played an important role in leading Edinburgh to its reputation as a chief intellectual centre during the Age of Enlightenment, and helped give the city the nickname of the Athens of the North. Alumni of the university include some of the major figures of modern history, including physicist James Clerk Maxwell, naturalist Charles Darwin, philosopher David Hume, mathematician Thomas Bayes, surgeon Joseph Lister, signatories of the American declaration of independence James Wilson, John Witherspoon and Benjamin Rush, inventor Alexander Graham Bell, first president of Tanzania Julius Nyerere, and a host of famous authors such as Sir Arthur Conan Doyle, Robert Louis Stevenson, J.M. Barrie and Sir Walter Scott. Associated people include 23 Nobel Prize winners, 2 Turing Award winners, 1 Abel Prize winner, 1 Fields Medal winner, 2 Pulitzer Prizewinners, 3 Prime Ministers of the United Kingdom, 2 currently-sitting UK Supreme Court Justices, and several Olympic gold medallists. It continues to have links to the British Royal Family, having had the Duke of Edinburgh as its Chancellor from 1953 to 2010 and Princess Anne since 2011. Edinburgh receives approximately 60,000 applications every year, making it the second most popular university in the UK by volume of applications. After St Andrews, it is the most difficult university to gain admission into in Scotland, and 9th overall in the UK.