The role of the college president as one of the chief actors in academic fund raising is examined against the background of today's period of financial caution and increased competition for philanthropic support. The paper first provides an overview of the state of the art of fund raising and some ways in which college and universities have responded to the continued emphasis on fund raising. Next, the paper outlines some basic characteristics of a fund raising executive and the alumni response. Finally, the involvement of the college president is discussed in the areas of major and special gifts, the annual fund, planned gifts, grants, and capital campaigns. It is noted that the college president has a responsibility to the successful management of the institution, and is therefore, obligated to a certain degree to fund raising programs. In addition, it is important that the president recognize the value of a strong cultivation program targeted at students in order to provide the base for senior giving programs, class gifts, and reunion giving. Contains 29 references. (GLR)