The success of an institution's fundraising program increasingly relies on the leader's ability to nurture relationships with major donors and alumni and articulate, as well as execute, a vision for the institution donors can support. Leadership stability becomes critically important because longer spells of service by presidents, deans, and heads of school ultimately lead to stronger relationships with donors, alumni, and other potential benefactors. Continuity and stability in leadership leads to confidence on the part of donors and potential donors. Some donors think of their charitable contributions as investments, and an untimely change in leadership can create a sense of unease among donors. Sometimes, when managed effectively though, a change of leadership can enhance rather than hurt an institution's fundraising efforts. A successful leadership transition requires advance planning, a good working relationship between the new leaders and development staff and trustees, and a communication strategy built around constant, honest communication with key donors. A leadership change has the potential to stall fundraising momentum. Whether it's the president or the chief development officer who's moving on, it's important to ensure that donors have multiple relationships within an institution.