University of Pennsylvania ranking 12. Located in Philadelphia, pennsylvania, the universityofpennsylvania (upenn, Penn) is a private research university, one of the Ivy League schools, a founding member of association of american universities, and a member of the Global University Presidents Forum. Founded in 1740, it is the fifth oldest higher education institution in the United States. It is also the first modern institution of higher learning in the United States engaged in science, technology and humanities education. Its founder is Benjamin Franklin, one of the famous founding fathers of the United States, ranking 12 in the world university rankings. The University of Pennsylvania is in a leading position in art, humanities, social sciences, business studies, architecture and engineering education, among which Wharton Business School is particularly famous.