Chief academic officers (CAOs) of independent colleges and universities are the principal leaders and managers of the academic programs of the institutions they serve. The core functions of higher education--teaching students, conducting scholarly research, and service to the academic community--usually fall under their purview. Despite these important responsibilities, few comprehensive studies have been conducted to examine the characteristics and duties of CAOs, and of these studies, none has focused on the CAOs of the nation's small and mid-sized private colleges and universities. Since 2008, the Council of Independent Colleges (CIC) has pursued a research agenda to support professional development for leaders of small and mid-sized private colleges and universities. The purpose of this study is to understand the characteristics, roles, and career aspirations of chief academic officers of CIC member colleges and universities. Who are these chief academic leaders? What career paths did they follow to reach their senior leadership positions? What are their duties and responsibilities? What further professional aspirations do they have? And, do substantive differences exist between the CAOs of independent colleges and those serving in other higher education settings? Responses from 1,140 chief academic officers to the ACE survey conducted in 2008 were analyzed, including 358 CIC CAOs. Specifically, comparisons were made between CAOs of CIC member colleges and universities and CAOs of four major sub-sector groups: (1) public baccalaureate and master's (BA/MA) level institutions; (2) private doctoral universities; (3) public doctoral universities; and (4) public two-year colleges. An appendix is included. It provides background information from previous studies and a description of the data analyzed and methodology employed in this study. (Contains 30 figures, 12 tables and 10 footnotes.) [This report was funded by the American Academic Leadership Institute.]