[2][3] Although founded in 1846 by a group of Methodist clergymen as the Illinois Conference Female Academy, the first class was not held until 1848.

However David Jesse of The Detroit Free Press wrote that for much of its history in the 20th century, the 2000s, and 2010s, the college had an unstable financial situation.

"[8] By the start of the 2018–2019 academic year, MacMurray's finances had worsened and the college was pursuing different strategies to resolve them.

The college cited "declining enrollments, rising competitive costs, and an insufficient endowment," as well as the impact of the COVID-19 pandemic on education.

[13] After the North Central Association dissolved in 2014, MacMurray's institutional accreditation was through the Higher Learning Commission.

[14] MacMurray had been ranked a Top 20 School in Washington Monthly magazine's ratings of colleges's "contribution to the public good",[15] placing No.

[16] In the 2013–14 academic year, MacMurray offered a 26-major, 16-minor[17] liberal arts curriculum with associate, bachelor, master and doctoral degrees.

Some of the college's top majors include nursing, criminal justice, homeland security, deaf and hard-of-hearing education and American Sign Language interpreting, teacher preparation and social work.

[18] Beginning with the fall semester of 2014, MacMurray began offering online degrees in business administration and homeland security.

[23] Center for Learning Excellence staff members are certified by the Kellogg Institute for the Training and Certification of Developmental Educators.

[5] Jesse stated that MacMurray students tended to be "blue collar" and studied less highly paid majors than those at Illinois College, with this contributing to the school's woes as it could not get the needed donations from alumni.

[26] Kendall and Norris were unoccupied during the 2009–10 school year while undergoing renovations that included sprinkler systems and aesthetic improvements.

[29] On June 16–17, 2011, MacMurray College suffered damage from widespread flooding that affected the entire eastern section of the City of Jacksonville.

[31] On July 26, President Colleen Hester made a plea to all members of the Illinois Great Rivers Conference of the Methodist Church.

College officials cited the on-going coronavirus pandemic and resulting economic disruption factors that hastened the decision based on MacMurray's continued financial struggles.