This study examined whether the ACE fellows' mentorship experiences facilitated leadership development, the achievement of contract goals, and career benefits. The objective of the present study was to determine how former ACE fellows viewed the effectiveness of their mentorship experiences during their fellowship year in preparing them for future senior level leadership positions in institutions of higher education. The sample of the study consisted of 26 former ACE fellows who participated in a survey, and nine former ACE fellows who participated in interviews in-person or via telephone. This study found that the fellows' mentorship experiences did facilitate critical leadership development and learning. The respondents felt that they received significant opportunities for learning in leadership and the function of institutions of higher education. Much of this learning was facilitated through opportunities for organizational access and mentor access, which was granted in the course of the mentorship experience. In addition, this study found that fellows felt that they gained significant career benefits from the participation in a mentorship experience. However, concerning contract goal achievement, responses were mixed. This study postulates that in order to ensure the development of effective leadership for the future of U.S. institutions of higher education, Colleges and Universities ought to consider focusing resources upon the development of internal mentorship programs or possibly developing mentorship programs within a smaller network of local schools. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com/en-US/products/dissertations/individuals.shtml.]