"At the crux of Master’s accreditation woes is an existential dilemma. The college seems sure to struggle to remain accredited under MacArthur’s leadership. But can it survive financially without its president? Full-time enrollment fell by nearly 90 students, about 7 percent, from 2014 to 2017, according to federal data. The university has also had to spend more money because of a tuition reset and a decline in auxiliary revenues, the accreditation report said. ... The university receives between $3 million and $4 million a year in donations for operational expenses, the accreditation review said, and the university is projecting annual gifts totaling $5 million a year for the next three years — money that might not materialize without the fund-raising prowess of the president."