Fund-raising is one of the college or university governing board's most basic and important responsibilities: The annual fund is the platform from which all other fund-raising activities flow, and the board plays a key role in planning, implementing, and monitoring comprehensive campaigns, which are major efforts, focused on long-range financial priorities, that involve all institutional resources and constituencies. Successful fund-raising programs are varied, but share some principles: collaboration of the institution's president, board, and senior development staff members; participation of informed and willing trustees; and direct linkage of fund-raising to the institution's mission, goals, and priorities. Fund-raising in public institutions is frequently delegated to separately incorporated nonprofit foundations, but the governing board is ultimately responsible for establishing the working agreements defining the foundation's relationship to the host institution. The trustees must be both advocates and active participants in implementing policies and strategies, and all board members must demonstrate their commitment with individual gifts. Fund-raising responsibilities of board members should be made explicit in the trustee job description and orientation. The board's development committee is responsible for ensuring that the institution has an active, well-organized, and adequately budgeted fund-raising program. The committee on trustees helps recruit board members committed to the institution's development. (MSE)