Panning from Magdalen College to the street. Magdalen College is one of the constituent colleges of the University of Oxford in England. As of 2011, the college had an estimated financial endowment of £168.1 million. Magdalen stands next to the River Cherwell and has within its grounds a deer park and Addison's Walk. The large, square Magdalen Tower is an Oxford landmark. Magdalen College was founded in 1458 by William of Waynflete, Bishop of Winchester. The founder's statutes included provision for a choral foundation of men and boys and made reference to the pronunciation of the name of the College in English. The college received another substantial endowment from the estate of Sir John Fastolf of Caister Castle in Norfolk.