This article presents a statement of the Board of Directors of the Association of American Colleges and Universities, which was endorsed by member representatives at the association's 2006 annual meeting. In their statement, the Board of Directors revisit the basic principles and discuss the role of academic freedom. Four misconceptions about intellectual diversity and academic freedom are addressed in the paper. This document articulates an ideal that is based on historic conceptions of academic freedom and extends those precepts to include responsibilities for the holistic education of students.