The introduction of performance-based state funding of higher education can be traced to the late 1970s which eliminated bonuses, and replaced regular state funding in part or completely, with funding tied to achievement of state-defined performance goals, which often include student outcomes, like graduation and retention rates. In this article, the authors developed a visual model of inquiry to guide the study, one that drew upon Kezar's (2012, 2014) framework on organizational change, which allows for the consideration of various organization members throughout the change/transition process. The model depicts the hierarchical relationship between state performance-based funding policy; decisions by institutional leadership and senior administration, midlevel administration, and faculty and student-facing staff; and the impact on student outcomes.