CREATE TABLE table_203_721 (id DECIMAL, "school" TEXT, "location" TEXT, "control" TEXT, "type" TEXT, "enrollment" DECIMAL, "founded" DECIMAL)

which of the universities was founded first ?
SELECT "school" FROM table_203_721 ORDER BY "founded" LIMIT 1
SELECT "school" FROM "table_203_721" ORDER BY "founded" NULLS FIRST LIMIT 1