I've run several different campaigns of a game my friends and I refer to as Magus. The basic assumption common to all of them is that sorcery exists in the modern world.
Only a small circle of people realize this fact--the sorcerors themselves and descendents of heroes of the past.
This particular manifestation of Magus concentrates on events in the lives of students, faculty, and staff of Glastonbury University. Glastonbury University was founded in the mid-1800's and now educates children of the supernatural underground in such important topics as swordsmanship, sorcery, heraldry and other topics that seem likely to help keep them alive.
Not that everyone realizes this. Many of the students think Glastonbury University is just an exceptionally eccentric liberal arts college.