In March 2002, anonymous donors contributed $13 million, the largest donation ever given to the college, to establish the 58,000 square foot (5,388 square meters) 2-story library named for past president, Peter H. Armacost. Fox Hall was demolished to make room for the library.$13-million given for Eckerd library - Document - Gale In Context: Biography The donation was taken as a "vote of confidence" from Eckerd College donors after an endowment shortfall Van de Werf, Martin,"Eckerd College President Retires After Endowment Is Found to Be Short $19-Million." The Chronicle of Higher Education46, 7 July 2000, p. A32. during the Armacost administration. It was later revealed that the donors involved were John and Rosemary Galbraith, a former Eckerd trustee and board chairman, as well as a retired mutual fund executive and philanthropist.
