As part of a 1974 comprehensive study of private higher education in Indiana, institutional goal perceptions and preferences were investigated, and comparisons to a 1971 study of major U.S. universities were made. Presidents, administrators, and faculty members rated the current importance of 53 goals as well as the importance they believed each goal should have, using the Inventory of Institutional Goals, which is appended. The top seven goals as reported in a composite of all respondents were: insuring confidence of contributors, protecting institutional autonomy, insuring favorable appraisal of those validating the quality of programs, securing financial soundness, keeping costs low, and, in the 6th and 7th positions, developing students' inner character and producing well-rounded students. For preferred goals, the highest preference was to maintain top quality in all programs. Insuring good administration and securing financial soundness were also among the top five goal preferences, as were the student-oriented aims of developing well-rounded students and inner character. Compared to faculty, presidents were more likely to view the goals hierarchy as satisfactory. Faculty respondents felt that involving faculty in institutional governance and insuring democractic procedures were underemphasized, while presidents felt these two goals were overemphasized. (SW)