December 22, 1918
The alumnae association announced that an anonymous donor had agreed to help in their efforts to close the nearly $400,000 debt and deficit disclosed by an audit in July. The problems arose from the recovery from the fire in Main, rising administrative expenses—some of them associated with war efforts—and wartime inflation of costs for necessary permanent improvements to the physical plant.
The donor offered a matching gift if the alumnae raised $150,000 by March 1, 1919. On February 28, the alumnae had completed their task, and the following day President MacCracken announced that the college was free of debt and deficit, owing to the anonymous matching gift and to $120,000 raised through subscriptions and $80,000 dollars from the company insuring Main Building.
By May the alumnae had raised over $450,000.