New ways of thinking about governance are beginning to transform the leadership strategies of many people who serve in nonprofit organizations. How specifically can the time and talents of higher education trustees be used more effectively to advance the interests of colleges and universities? How many college and university boards govern like managers rather than leaders? Are there innovative ways to change governance structures and processes to transform boards from good ones to truly great ones? In this article, the authors discuss the cases of several corporations and universities as examples of ways in which other college and university boards can begin to think strategically about the strengths they need to cultivate to improve their institutions' governance.