Grinnell College is a private liberal arts college in Grinnell, Iowa, Unite States with a strong tradition of social activism. It was founded in 1846, when a group of transplanted New England Congregationalists formed the Trustees of Iowa College. It is ranked eleventh of the top liberal arts colleges in the nation by US News & World Report, and received the "Best All-Around" college rating from Newsweek magazine in 2004. Until recently, the estimated value of Grinnell's endowment was the highest among liberal arts colleges; as of 2007 it had the third-largest endowment among them. Grinnell additionally has the sixth highest endowment per student of all colleges and universities in the United States.